Indira Setyowati


Ms. Indira Setyowati graduated with cum laude predicate from Universitas Gadjah Mada and during her working experience, she has extensive knowledge capital markets (including bond issuance) and multi-finance transactions.

Ms. Indira Setyowati graduated with cum laude predicate from Universitas Gadjah Mada. She participated in Foreign Direct Investment Arbitration Moot where she managed to lead the team to finish the Asia Pacific Oral Rounds in 3rd Place and enabled her team to proceed to the Global Oral Rounds in Frankfurt am Main, Germany and actively participated in various organizations, including  the Asian Law Students’ Association (ALSA). .

Prior to joining Walalangi & Partners, she was with one of the prestigious law firms in Indonesia, where she assisted multiple prominent capital market transactions, including the issuance of IDR 4 trillion Bonds by a state-owned company offered in London and Singapore Stock Exchange.

In Walalangi & Partners, she has been successfully assisting and advising clients in the following prestigious deals:

  • Counsel to major Japanese consumer credit supplier Orient Corp in the acquisition of a majority interest in an Indonesian finance company PT. Mizuho Balimor Finance from Mizuho Bank. Established in 1989, PT. Mizuho Balimor Finance has capital of 448 billion rupiah and receivables of around USD 190 million. The acquisition would allow Orient Corp to tap into the growing Indonesian car loan market, and will enable Orient Corp to expand its local arm’s business to used vehicles. This will be Orico’s third overseas arm following those in Thailand and the Philippines.
  • Advising Bizzy Group in its financing and internal restructuring of 9 e-commerce, logistics and distribution companies, involving acquisitions and capital reductions in various companies, including structuring of more than IDR 600 billion Mudharabah Financing to the acquirors.
  • Counsel to Hokkan Holdings Corporation (Hokkan), one of the largest Japanese bottling and packaging maker companies, in its 1,262 billion Indonesian Rupiah or approximately 9.5 billion yen acquisition of beverage package manufacturing business from 7 group companies of PT. Deltapack Industri (DPI group), which includes transfer and assignment of substantial DPI group’s moveable and immovable assets as well as business portfolios.
  • Assisting Oriente Group, including PT Oriente Mas Sejahtera, a P2P company, in the preparation of various products and  transactional documents.


  • Sinta Dwi Cestakarani/Andhika Indrapraja/Indira Setyowati, Fintech 2021, The International Comparative Legal Guide (ICLG), Global Legal Group, 2021.
  • Researcher for the preparation of publication Indonesian Financial Technology for International Comparative Legal Guide (ICLG) in 2019.
  • Researcher for the preparation of publication Indonesian Banking Regulation for Getting the Deal Through (GTDT) in 2019.
  • Researcher for the preparation of publication Indonesian Banking Regulation for Global Legal Insights (GLI) in 2019.