18 December 2023
Dear clients and friends of Gen Advisory Pty Ltd,
Re: Establishment of PT. Generasi Lukman Indonesia
I am writing to advise today that I have established a niche, Jakarta-based Indonesian company named PT. Generasi Lukman Indonesia (“PT. GLI”) – of which I am the proprietor and director. This establishment was effective 28 November 2023.
PT. GLI will:
support organisations, including clients of Gen Advisory Pty Ltd (“Gen Advisory”), wishing to operate in the Indonesian jurisdiction; and
represent a “sister company” of, but separate entity from, Gen Advisory Pty Ltd.
The purpose of this letter is to highlight what impacts, if any, PT. GLI’s establishment will have on you – our valued clients and friends of Gen Advisory.
Impacts on you
I confirm that PT. GLI’s establishment will have no impact on Gen Advisory’s existing clients and friends. Gen Advisory’s commitment to helping our clients meet their business objectives and regulatory requirements remains unchanged.
With respect to operational matters:
In 2024 and 2025, I will be based predominantly in Jakarta, Indonesia – on a 2-year Indonesian limited stay permit.
During this period, Gen Advisory’s Head of Licensing and Financial Sector Regulation Clement Fernandez will have a more active role in managing Gen Advisory.
I will also continue to travel to Sydney on a periodic and “as needs” basis.
Hendra Fahrizal has been appointed Commissioner of PT. GLI.
Prior to joining Gen Advisory and PT. GLI, Hendra had worked at Bangkok Bank PLC and the Qatar National Bank in Indonesia.
Gen Advisory’s Financial Inclusion and Research Analyst, Fitria Susanti, will be appointed PT. GLI’s second Commissioner when she returns from parental leave in 2024. Fitria will retain her current Gen Advisory position.
Apart from the above changes, Gen Advisory Pty Ltd will be operating “business as usual”.
For the majority of Gen Advisory’s clients and friends, you will not experience any changes to the way we currently interact and communicate with you.
For Gen Advisory clients and friends which have an interest in the Indonesian jurisdiction: PT. GLI’s establishment will enhance our team’s ability to support you.
Should you have any questions regarding PT. GLI’s establishment and how this might impact you, please do not hesitate to contact either:
In the interim: On behalf of the Gen Advisory and PT. GLI teams, I thank you in advance for your support of our future aspirations in Indonesia.
cc: Clement Fernandez – Head of Licensing & Fin Sector Regulation, Gen Advisory Pty Ltd.
Note: To download a printable version of the above letter, please click here.