Partners

jennifer.tumbuan@tumbuanpartners.com

Jennifer B. Tumbuan

Managing Partner

Jennifer B. Tumbuan has been a partner of T&P since April 2011. She has been in practice since 1998. Prior to joining T&P, she was the retained general counsel of a private equity for about 3 years and prior to that, she was a senior associate in a major and reputable law firm in Jakarta. She graduated in 1998 from the Faculty of Law, University of Indonesia. In 2003 she earned her LL.M degree from the Faculty of Law, Leiden University in the Netherlands, majoring in International Business Law. She is admitted to practice as an Advocate and Capital Market Legal Consultant in Indonesia and a registered receiver and administrator in the Ministry of Law and Human Rights and also a member of Indonesian Curators and Administrators Association (Asosiasi Kurator dan Pengurus Indonesia or AKPI).

Within T&P, she has been intensively involved in the issuance of capital market securities (equity and debt) by Indonesian companies through the Indonesian capital market and overseas capital markets, including IPOs, rights issues, bonds and promissory notes; banking and finance; acquisitions, debt restructuring and mining projects in Indonesia and general corporate work.

Her professional experience covers acting as legal adviser to among others:

  • an Indonesian asset management company as arranger of numerous MTN holders as secured creditors during the Suspension of Debt Payment (Penundaan Kewajiban Pembayaran Utang – PKPU) proceeding of an Indonesian public listed property developer company
  • PT Bank Mandiri (Persero) Tbk as the lender in connection with the provision of a loan to PT Telekomunikasi Indonesia (Persero) Tbk and its subsidiaries as joint borrower with a total committed and a non-revolving credit facility of up to IDR5,113 trillion
  • an Indonesian public listed mining company in its plan to issue a guaranteed senior secured notes through its affiliate, with a principal amount between US$500 million to US$1 billion and international offering pursuant to Regulation S or 144 A
  • PT J Resources Asia Pasifik Tbk. as the issuer in the Shelf Bonds offering by the name “Penawaran Umum Obligasi Berkelanjutan I J Resources Asia Pasifik Tahap I Tahun 2019” with a targeted fund to be raised amounting ±US$220 million (IDR3 trillion)
  • various venture capital firms in their proposed investments in several Indonesian start-up companies or small/medium enterprises in various industries such as amongst others GudangAda (FMCG marketplace), FinAccel (fintech), Artotel (hospitality), Carro (car marketplace), Docquity (web learning platform), Kaodim (services marketplace), Chope (restaurant booking platform), Carsome (car marketplace), Alodokter (healthcare services platform) and Cekaja (fintech)
  • various start-up companies and small/medium enterprises in their proposed corporate restructuring, financing and/or general corporate matters
  • PT Bumi Serpong Damai Tbk. in its Real Estate Investment Trust Project together with other shareholders of PT Plaza Indonesia Realty Tbk. (“PIR”), with the acquisition value of PIR shares of US$915 million
  • Asuransi Jiwa Bumiputera 1912, the century-old Indonesian mutual life insurer and the first and only national insurer owned by its policy holders (mutual society) in its proposed restructuring with the object to improve its finances and meet growing obligations, as has been instructed by the Non-Bank Financial Industry division (Industri Keuangan Non-Bank/IKNB) of the Indonesian Financial Services Authority (Otoritas Jasa Keuangan/OJK)
  • PT Karyadibya Mahardhika and PT Surya Mustika Nusantara, both being the sister companies of PT Gudang Garam Tbk in the acquisition of all their shares by a Japanese Tobacco company namely Japan Tobacco Inc
  • both PT Bank Mandiri (Persero) Tbk as the creditor and agent, as well as PT Semen Padang as the debtor, in the Syndicated Loan Agreement in the amount of IDR1,950 trillion (equivalent to ±US$160 million) for the financing of Indarung VI cement plant with a total project investment amount of approximately IDR4 trillion (equivalent to ±US$330 million)
  • PT Borneo Lumbung Energi & Metal Tbk in its US$1 billion acquisition of 23,8% shares in Bumi plc, an indirect shareholder of a.o. PT Bumi Resources Tbk, PT Bumi Resources Minerals Tbk, PT Berau Coal Energy Tbk, PT Darma Henwa Tbk and PT Newmont Nusa Tenggara, and in its US$1 billion acquisition financing with Standard Chartered Bank
  • PT J Resources Asia Pasifik Tbk in its rights issue of ± US$161.3 million and in its acquisition of PT J resources Nusantara which owns Indonesian and Malaysian gold mining assets
  • PT Fast Food Indonesia Tbk (KFC) in its bond offering

Other Achievements

  • As a Speaker in a Seminar held by the Association of Ventura Fund for Startup in Indonesia (Amvesindo/Asosiasi Modal Ventura Untuk Startup Indonesia) with the topic “Venture Capital Company”
  • As a resources person in the Round Table Discussion on Business Entity Registration and Operations in Indonesia (World Bank Group)
  • As a Speaker in a Seminar held by Indonesian Stock Exchange with the topic “Road to Go Public with Moore Stephen”
  • As a Vice Chairman of Advocate Education Committee/Wakil Ketua Komite Pendidikan Advokat of the Indonesian Advocates Association (Perhimpunan Advokat Indonesia/PERADI)
  • As a Vice Chairman of IT and Publication of Association of Capital Market Legal Consultants/Wakil Ketua Koordinator Bidang IT dan Publikasi of Capital Market Lawyers’ Association (Himpunan Konsultan Hukum Pasar Modal/HKHPM)
  • As a participant in, moderator in or master ceremony of several seminar held by Himpunan Konsultan Hukum Pasar Modal/HKHPM, for among others the following topics :
  1. Fintech – Regulations, Technological Devices and its Supervision for Illegal Fintech” (June 2019)
  2. Draft Law of State Owned Enterprises (March 2019)
  3. Standard Legal Due Diligence and Legal Opinion (February 2019)
  4. Capital Market Instrument for Infrastructure Projects in Indonesia (August 2018)
  5. The participation of Legal consultant in handling banks with problems (July 2018)
  6. Legal aspects of Fintech (February 2018)
  7. New standard profession for Capital Market Lawyers (January 2018)
  • Pro Bono : provided legal advice and problem solving to certain communities such as school, religious institution

Acknowledgements and Awards

  1. Asialaw Profiles
  • Leading Lawyer in Banking and Finance, Capital Markets, Year 2018
  • Leading Lawyer in Banking, Year 2014
  1. ALB Indonesia Law Awards
  • Finalist Dealmaker of the Year, 2019
  • Finalist Woman Lawyer of the Year, 2019
  • Finalist Managing Partner of the Year, 2018
  • Finalist Managing Partner of the Year, 2018
  • Finalist Woman Lawyer of the Year, 2018
  • Finalist Managing Partner of the Year, 2017
  • Finalist Woman Lawyer of the Year, 2017
  • Finalist Managing Partner of the Year, 2016
  • Finalist Woman Lawyer of the Year, 2016
  • Finalist Managing Partner of the Year, 2015
  1. ALB South East Asia Law Awards
  • Finalist Regional Managing Partner of the Year, 2019
  • Finalist Woman Lawyer of the Year, 2019
  • Finalist Managing Partner of the Year, 2016
  • Finalist Managing Partner of the Year, 2015

Professional Organizations

  • PERADI/Perhimpunan Advokat Indonesia (Indonesian Advocates Association – Vice Chairman of Advocate Education Committee/Wakil Ketua Komite Pendidikan Advokat
  • HKHPM/Himpunan Konsultan Hukum Pasar Modal – Vice Chairman of IT and Publication of Association of Capital Market Legal Consultants/Wakil Ketua Koordinator Bidang IT dan Publikasi
  • Amvesindo/Asosiasi Modal Ventura Untuk Start-Up Indonesia (the Association of Venture Capital For Indonesian Start-Up) – Head of Legal and Government
  • AAI/Asosiasi Advokat Indonesia (Association of the Indonesian Advocates)
  • IKANED/Ikatan Keluarga & Alumni Netherlands (Netherlands Alumni Association in Indonesia)
  • AKPI/Asosiasi Kurator dan Pengurus Indonesia (Indonesian Curators and Administrators Association)

Languages

  • Bahasa Indonesia
  • English

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