Sinta Dwi Cestakarani

Senior Associate

Ms. Sinta Dwi Cestakarani is a talented and experienced Indonesian lawyer with almost a decade of experience in assisting domestic and international clients. Her main areas of practice encompass banking & finance, M&A, mining, and technology media and telecommunications (TMT). She is recognized by IFLR1000 2023-2024 (33rd Edition) as Leading Lawyer – Rising Star.

 

Sinta Dwi Cestakarani obtained her Bachelor of Laws degree from Universitas Padjadjaran, where she graduated with a cum laude honor.

Prior to joining Walalangi & Partners, Sinta Dwi Cestakarani worked for one of the biggest law firms in Indonesia. Sinta Dwi Cestakarani has been involved in assisting domestic and foreign companies in various notable transactions and advisory work predominantly in the areas of banking & finance, M&A, mining, TMT , and fintech business. Due to her numerous great achievements in a relatively short time, she was recognized as one of “11 inspiring NexGen Lawyers of 2019” by HukumOnline.

Some of the noteworthy projects and transactions she has handled include the following:

  • Lead counsel to Ascent Fund III VCC , a prominent venture capital firm based in Singapore, in their strategic investment in one of the biggest innovative tech-enabled healthcare solutions providers in Indonesia, through subscription of convertible notes. The transaction includes combination of elements of business restructuring with a sophisticated convertible notes issuance structure. The legal expertise and strategic foresight were instrumental in navigating the complexities of this significant venture, ultimately contributing to the success of this groundbreaking collaboration.
  • Counsel to one of biggest power companies in Japan, in structuring and preparing various loan agreements for its financing to an Indonesian borrower, engaging in roof-top solar business and preparing various Indonesian law governed security documents to secure the lender’s preference rights, including pledge of shares agreements, power of attorney to vote and sell shares and the fiducia security to secure the shareholder’s loan.
  • Counsel to MUFG Bank in total approximately EUR 596 million acquisition of 100% shares of HC Consumer Finance Philippines, Inc and 85.0% shares of PT Home Credit Indonesia, subsidiaries of Home Credit B.V. The acquisition is done through MUFG Bank and its consolidated subsidiaries Bank of Ayudhya Public Company Limited, the fifth largest commercial bank in Thailand and PT. Adira Dinamika Multi Finance.
  • Counsel to one of the largest Japanese trading companies in its pilot smart city project in a Greater Jakarta Area, focusing on legal requirements for online platform, personal data processing and data transfer.
  • Counsel to Mitsubishi Corporation and Sinar Mas Land on the inauguration of the PoC of Indonesia’s first autonomous electric vehicle at Q-Big BSD City, using first intelligent transportation system of French-made shuttle bus Navya Arma. The 15-passenger self-driving electric vehicle has a battery capacity of 33 kWh and is equipped with Global Positioning System (GPS) and Light Radar (LIDAR) sensor. This goes in parallel with the vision of G20, i.e., to go towards smart green cities, more low-carbon mobility, and less traffic congestion.
  • Advising a primary provider of natural gas to the main cities of Japan on the implementation of its group companies’ global whistle-blowing system which legal analysis covers Indonesian personal data protection.
  • Counsel to Mitsui & Co., Ltd and Penske Truck Leasing, the largest commercial vehicle leasing company in North America, in the establishment of their  truck operating lease business in Indonesia together with CSM Corporatama, a subsidiary of Indomobil under the major Indonesian conglomerate Salim Group. Through this project, the parties plan contribute to the Indonesian economy by providing well-maintained trucks to tackle issues in freight transportation which would reduce road infrastructure damages and traffic accidents.
  • Advising an emerging Indonesian marketplace platform start-up that facilitates small-medium size enterprises in selling their products online and help them with bookkeeping – in relation to (i) analysis of data collection and storage, payment initiation, administration and verification of source of fund, e-money issuance, (ii) structuring its existing business activities and key licensing requirements, (iii) payment services provider (PSP) license, scope of activities, shareholding and voting rights of foreign shareholders and capitalization and (iv) analysis on its share acquisitions plan of PSP companies.
  • Advising a leading Japanese telecommunication and a Japanese Fortune Global 500 company on various Indonesian law’s regulatory framework related to its proposed investment in various digital payment and finance sectors in Indonesia, including among others, mobile payment and Q&R code based payment services, online loyalty point related services, digital banking and financing, small loan online services, digital consumer finance (including buy now pay later (BNPL) arrangement), and digital insurance.
  • Counsel to a Singapore based boutique finance firm, in structuring various contractual arrangements for the sale and purchase of coal purchase option and coal commodity from  Indonesian group of companies engaging business in coal mining and trading, including optimizing the legal and commercial structure and the payment structure arrangement, to maximize protection for the client’s interest and ensuring the compliance of all transaction agreements with Indonesian laws and regulation.
  • Advising one of the most rapid growing technology and game companies based in the US, with approximately 36.2 million daily users, on various Indonesian regulatory matters to include gaming regulations, gaming applications rating, registration requirements, content requirements and restrictions as well as personal data protection.
  • Advising a leading Japanese video game developer and publisher listed on the Tokyo Stock Exchange (CCOEF) with headquarter in Osaka, on Indonesian regulatory matters relating to progressive business model development plan, including online games offerings, digital currency and payments, loot box features, business and games rating registration requirements, consumer protection, and personal data privacy rules.
  • Advising a Japanese-affiliated company on Indonesian law aspects in relation to its proposed establishment and development of internet-based platform to be used for holding cross-border e-sport tournaments, particularly, with respect to its proposed business model and payment arrangements, including the use of digital currency, such as cryptocurrency, and limitations on its use, as well as advising on compliance issues, including, personal data protection rules, creditworthiness scoring activities under OJK regulations, and obligations of an electronic system operator.
  • 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.
  • Counsel to Toyota Tsusho Corporation in its real property and phase III residential expansion, through land acquisition and residential towers development, located in Cikarang Bekasi, with a total investment value of IDR 910,000,000,000 or approximately ¥7,142 million. This is the continuation of the successful establishment and operation of the preceding AXIA Phase I and AXIA Phase II.
  • Advising a Japanese leading logistics company in the restructuring of its numerous Indonesian logistic subsidiaries engage in freight forwarding services, bonded logistic center and storage and other storage business. The transaction involves various and complex corporate actions including merger and transfer of business between the group companies and compliance of various regulatory requirements.

Seminars and Publications:

  • A speaker on “Personal Data Protection” at in-house seminar of Astra and Toyota group companies in 2024. The in-house seminar helped Astra and Toyota group companies to navigate the safeguard personal data processing, especially in relation to the compliance of personal data sharing and role of data protection officer.
  • Luky I. Walalangi/Miriam Andreta/Siti Kemala Nuraida/Sinta Dwi Cestakarani, Investing in…. 2024 Global Practice Guide – Trends and Developments, Chambers & Partners, 2024.
  • Luky I. Walalangi/Sinta Dwi Cestakarani/Rendi Prahara Septiawedi/Yuki Tresnaningtyas/Alan Sylvester Chandra: Practice Area Overview: Corporate/M&A 2023, Chambers Global Guide, 2023.
  • Luky Walalangi/Jeanne Elisabeth Donauw/Siti Kemala Nuraida/Sinta Dwi Cestakarani, Chambers Global Practice Guide on Doing Business In Indonesia – Trends & Developments 2021.
  • Miriam Andreta/Sinta Dwi Cestakarani/Prisca Octavia Rumokoy, Lexology Getting The Deal Through, Banking Regulation, 2021.
  • Sinta Dwi Cestakarani/Andhika Indrapraja/Indira Setyowati, Fintech 2021, The International Comparative Legal Guide (ICLG), Global Legal Group, 2021.
  • Sinta Dwi Cestakarani/Anggarara Hamami/Jovico Nicolaus Honanda, Fintech 2020, The International Comparative Legal Guide (ICLG), Global Legal Group, 2020.
  • Luky I. Walalangi/Sinta Dwi Cestakarani/Andhika Indrapraja, Data Protection 2019, Asian Legal Business (ALB) Supplements 2019.
  • Sinta Dwi Cestakarani, NexGen Lawyers 2019, HukumOnline
  • Sinta Dwi Cestakarani/R. Wisnu Renansyah Jenie/Femalia Indrainy Kusumowidagdo, The International Comparative Legal Guide to: Corporate Governance 2019, Global Legal Group (GLG), 2019.
  • Luky I. Walalangi/Hans Adiputra Kurniawan/Sinta Dwi Cestakarani, Fintech 2019 Edition, The International Comparative Legal Guide (ICLG), Global Legal Group, 2019.
  • Luky I. Walalangi/Miriam Andreta/Sinta Dwi Cestakarani, Indonesia, Pitfalls of Creditor Security in Indonesia, Global Banking & Financial Policy Review 2018/2019, IFLR Yearbooks, 2018/2019.