Singapore (PRWEB) February 20 2009 — MSI Global Alliance (MSI) is delighted to announce the admission of Lubis Santosa & maulana (LSM)  to its growing worldwide membership of independent law and accountancy firms.

LSM was selected from a number of candidate firms in Jakarta and brings additional strength to an Asia legal membership that also includes leading independent law firms Lehman Lee & Xu (China), Chooi & Company (malaysia), ONC Lawyers (Hongkong), Kojima Law Offfices (Japan), and Rajinder Narain & Co and Chandan Associates (India).
The appointment enables LSM, a Legal 500 and chambers and Partners recommended firm, to remain fully independent, while broadening the scope of services available to its clients through access to a carefully selected worldwide association of over 250 independent law and accounting firms in 100 countries.

With multinational corporations comprising a growing share of LSM client base, the need to refer clients to trusted, independent law firms with strong commercial teams and international experience in other jurisdictions has become hugely important. Membership will allow LSM to continue to benefit from existing law firm relationships, while accessing an additional source of referrals from overseas.

LSM is a 30-lawyer, full service law firm established in 1986 whose practice encompasses nearly every major area of law, but is divided intro three major practice groups: Corporate and Commercial, Intellectual Property and Dispute Resolution.
Todung Mulya Lubis, LSM’s Senior Partner, says:”MSI Global Alliance membership acknowledges our standing in the South East Asian region and will benefit our clients as well as boost our profile in Indonesia.

“Our admission to MSI Global Alliance also nends a message to Indonesian companies that we are ready and capable of assisting them with global transactions.”
James Mendelssohn, MSI’s Chief Executive, says:”Lubis Santosa & Maulana ia an impressive firm that has been able to meet our stringent membership criteria of impeccable service standards and a broad, internationally oriented, commercial practice. The firm will play an important part in the growth of our membership in South East Asia.
“MSI continues to appoint strong independent firms, with six firms having joined already in 2009. The economic downturn provides a good opportunity for the medium sized firm with established international links as in house counsel and CFOs go in search of professional firms that offer better value through partner involvement, lower fees and international expertise.”

Mendelssohn continues:”while some firms are battening down the hatches, the more entrepreneurial firms are out there networking, connecting. referring, learning and doing their best to keep business flowing and confidence growing. This type of firm is certainly to be found within MSI, with managing partners recognising that to do nothing, however tempting, is a big risk.
“We are exploring opportunities to appoint further members in South East Asia, including Cambodia, Laos, Macau, South Korea Taiwan and Vietnam, and interested firms are invited to come forward.”

Clients doing business in Indonesia now have access to the full range of professional services through LSM and MSI’s accounting firm member in Jakarta, Sulaimin & Rekan.
About MSI Global Alliace
MSI is an international association of independent proffesional firms, with over 250 member firms in 100 countries. MSI was formed in 1990 in response to the growing need for cross border cooperation between proffesional servises firms. For more information on MSI and its member firms, please go to www.msiglobal.org

Jakarta Globe

Friday, April 3,2009

After 12 years in mothballs, a subsidiary of state oil and gas firm PT Pertamina plans to revive the Karaha Bodas geothermal project in Garut district, West Java Province , at an estimated investment of as much as $60 million, atop company official said on Thursday.
The project was halted in 1997, the height of the Asian financial crisis, by President Habibie, following allegations of corruption and inflated estimates of potential reserves by PT Karaha Sodas Co., or KBC.KBC was a joint venture between the US-based energy companies Caithness Energy and Florida Power and Light Group Inc., and Japanese power developer Japan Tomen Power Holdings Corp., together with local partner PT Sumarah Dayasakti.

At the time, Pertamina said that Karaha Bodas^‘s proven re-serves were only 30 megawatts, but KBC claimed they amounted to some 400 MW. The dispute eventually went to arbitration, with the panel finding against Pertamina in 1999, and ordering the state firm to pay $261 million in damages to KBC for the money it had already spent and loss of future profits.“Pertamina will start the construction of the geothermal project nextyear and expects to bring online all of the 30 MW in proven reserves,” Abadi Poernomo, president director of Pertamina Geothermal Energy, or PGE, told the Jakarta Globe by telephone. “The price for geothermal electricity is higher now than it was previously, thus clearing the way for us to reusrrect the project.” He said that the investment would be financed by a Pertamina loan to PGE. “it would be a corporate loan to us. Pertamina can come up with some $50 million to $60 million,” he added. Abadi also expressed the hope that the seemingly intractable legal dispute between Pertamina and KBC would be resolved soon. Although Pertamina finally paid the arbitration panel’s award to KBC, it still refuses to accept liability, and has since tried to recover the money in the United States, Singapore, Hongkong and Canadian courts, arguing that KBC was guilty of corruption and of inflating reserves. Abadi declined to elaborate further on the legal issues.
 According to lawyer Todung Mulya Lubis, the chairman of Transparancy International Indonesia, Pertamina had little chance of reversing the arbitration award as overseas courts were very reluctant to do so for fear of damaging the arbitration system. “I m not optimistic that Pertamina will be able to over turn the arbitration award against KBC, unless Pertamina has very strong reasons that would persuade the court to do so. Pertamina however, doesn’t have such reasons. KBC won because it argued its case very well before the arbitration panel.” Regarding the pricing of the Karaha Bodas power, Abadi said that Pertamina was currently in talks with state power utility PT Perusahaan Listrik Negara, or PLN.The revived Karaha Bodas project forms part of phase teo of PLN’s “fast-tract” generating capacity expansion program, and is expected to be finished by 2013, Abadi said.

Todung Mulya Lubis

Mayapada Tower 5th Floor

Jl. Jend. Sudirman Kav. 28 Jakarta 12920, Indonesia

Phone : 6221. 521.1931 (hunting) Fax : 6221. 521.1930