Discussion & Analysis

Fully Compliant

Otherwise known as Digital Securities, Programmable Securities or Smart Securities, Security Tokens are regulated financial securities offered to investors via STOs or Digital Security Offering (DSOs).

Security Tokens must comply with jurisdictional securities and banking financial regulations. These 2nd generation tokens provide an array of different financial rights to an investor such as equity, dividends, profit share rights, voting rights, buy-back rights, etc.

Security tokens often represent a right to an underlying asset such as a pool of real estate, cash flow, or holdings in another fund. These rights are written into a smart contract and the tokens are traded on a regulated blockchain-powered exchange. The IndoVest Token will give the Token Holder the right to receive cumulative quarterly dividends equal to 65% of the Company’s Net Income After Taxes.

Read about Problems with the Status Quo >

Discussion & Analysis

Problems with the Status Quo

Some assets are illiquid because their markets are incredibly shallow.

The settlement and transfer of securities is slow and unwieldy.

Private markets have poor transparency, making regulatory and investor oversight difficult.

Read what tokenization accomplishes >
IndoVest Token

What Tokenization Accomplishes

  • Fractional exposure/ownership
  • Easier transfer and settlement
  • Built in regulatory compliance in the blockchain so it is immutable

Impact on Market

  • More investors mean deeper markets
  • Easier logistics increase efficiency
  • More jurisdictions means increased number of investors and increased liquidity
IndoVest Token

Problems Security Tokens Solve

  • Creation of financial products the largely in the purview of siloed financial institutions
  • Digital or Smart Securities with open, programmable, embedded logic could allow for an explosion of financial innovation
  • Financial products will still require regulatory oversight
  • Critical infrastructure will need to be built out to support accelerated innovation
  • Administration (i.e. compliance and disclosure requirements) will need to improve to support technical progress
  • Globally Integrated Markets
  • Wider Investor Base
  • Removal of Friction
  • Fractional Asset Ownership
  • Liquidity Follows Value: small micro-cap assets will not have liquid markets
  • Market makers will be required
  • Premise of retail investors purchasing an extremely wide offering of assets at scale is not proven yet
Asset Interoperability
  • Incompatibility between classes increases transfer friction, and decreases malleability
  • Blockchain provides open standards to build upon, allowing the creation of an efficient financial market infrastructure
  • Parallels can be drawn to the creation of open web standards enabling web innovation
  • Incorrect approach to developing interoperable token standards will yield siloed systems (and a return to the current paradigm)
Automated Compliance
  • Favorable for issuers (ease of use) and regulators (ease of monitoring)
  • Assist investors and issuers in navigating cross- border and cross-asset regulatory requirements
  • Efficiency (and presumably liquidity) gains as the regulatory compliance is hardwired into the token architecture)
  • Additional disclosure requirements could outweigh cost savings
  • Administrative burden
Rapid Settlement
  • Transform the service provider function (lawyers, bankers, agents) into more advisory functions
  • Mitigating counterparty and other risks
  • Lowers margin requirements for clearing agency members
  • Reduce pro-cyclical margin and liquidity demands (especially during periods of market volatility)
  • Front-running trades (although this can be mitigated through implementing zero-knowledge proofs and capped gas limits)
  • Recoverability of tokenized stock with regards to failed trades
  • ‘Paper’ transfer of ownership in the real-world will still require time, even if rapid settlement is possible
Cost Reduction
  • Various layers in financial transactions to reach settlement are costly
  • Automation through smart contract finality should abstract these costs away
  • Potential for increased wash trading activity (given lower costs) in order to boost volumes, however automated compliance and easier regulatory oversight should mitigate this
  • Adding blockchain wrapper to financial products does not guarantee cost reductions
Fractional Ownership
  • Improves accessibility to assets encumbered by high unit costs (e.g. Art, Real Estate)
  • Wider syndication to a pool of investors can lower the cost of capital for issuers
  • Transferability of ownership rights and actual ownership of asset not clear (at 51% stake for example)
  • Separation of ownership rights to cash flow generative assets (i.e. property) vs. non-cash flow generative assets (i.e. art)
  • Currently possible (i.e. not blockchain-native) but has not seen wide usage
Mitigating Manipulation
  • Open and real-time verifiable securities ledger should usher behavioral best practices
  • Prevents naked short selling
  • Oracle problem will not be solved by putting securities on the blockchain

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Chairman of the Board, Member of Investment Committee and Founder

Mr. McLoughlin was formerly a Director Adjoint (Deputy Director) at Banque Paribas for 23 offshore Trusts and Mutual Funds; he worked for 10 years as an Institutional Fund Manager at the Abu Dhabi Investment Authority (Sovereign Wealth Fund); Senior Analyst at JP Morgan; Laurence Prust & Co.; SHK & Co. (50% owned by Merrill Lynch); Fund Manager Japan & Asia Pacific Abu Dhabi Investment Corp. (100% owned subsidiary of ADIA) and Citicorp. From 2003 through 2012 Mr. McLoughlin has exceptional experience with over 80 transactions (see Transaction List) in the following industries: Coal; Oil & Gas; Gold & Precious Metals; Base Metals; Diversified Trading; Financial & Property and Technology. Mr. McLoughlin’s references are generally world renowned financial figures in finance, investment banking, asset management and M&A.



Director, Chief Compliance Officer,
 Member of the Investment Committee, & Founder

Mr. Beggs served with distinction in the Military Service of the UK for 11 years (Captain – retired). Mr. Beggs worked at Swiss Bank London as Associate Director and Savory Milln London as Associate Director; Swiss Bank International (Singapore) as Director and Country Manager Australia, Singapore; Heron Group – Founder and Managing Director; Kroll Associates, Hong Kong - Singapore and South East Asia Representative; Kroll Associates, Singapore – Director and Country Manager; Kroll Associates, Australia - Director and Country Manager; TRW Group, Malaysia and Thailand - Director Logistics, Operations and Business Development and Aquantum Asia, Singapore and Australia - Founder and Principal Advisor.



Director, General Counsel, Secretary, 
Member of the Investment Committee & Founder

Mr. Wood is the founding partner in the law firm of Wood & Associates, LLP. For over 30 years Mr. Wood has practiced in the areas of personal injury and criminal law with a particular emphasis on international issues. He has participated in large product liability lawsuits as well as major felony trials across the country, as well as represented foreign countries before United States courts. Mr. Wood’s clients have ranged from The Country of Libya to International high-profile clients, to people severely injured or killed by defective products. His advice and counsel is are sought by people and institutions from all parts of the world. Randell Wood has brought significant product liability actions on behalf of injured consumers against foreign corporations, negotiated international prisoner exchanges between countries, and been called upon to represent foreign nations before United States courts and tribunals. His cases are often controversial, and have included litigation involving international financial frauds, federal criminal conspiracy trials, and compliance with anti-terrorism financial regulations and United Nation resolutions. He has been asked by nations to assist in cross-border, multi-jurisdictional asset recovery, and repatriating of the proceeds of corruption, including use of the United Nations Convention against Corruption (UNCAC). Early in his practice he worked as a prosecutor for the City of Springfield and served at judicial appointment as the special prosecutor for the 39th Judicial Circuit. Mr. Wood received his Bachelor of Science from Southwest Missouri State University in 1975. He attended Graduate School at Southwest Missouri State University from 1975 to 1976 studying Counseling Psychology. Mr. Wood then went on to receive his Juris Doctorate from the University of Missouri at Kansas City in 1979.



Founder and President Commissioner of Masindo Artha Sekuritas PT

Mrs. Soeharsono has been the President Commissioner of Masindo Artha Sekuritas PT and an investment banker for the past 25 years. Industry expertise includes oil & gas, mining, infrastructure development, finance and acquisition, financial services and additional industries. Mrs. Soeharsono has a Bachelor of Science in Banking and Finance from San Francisco State University.



Director & Member of Investment Committee

Mr. Davis co-founded Interactive Exploration Solutions Inc., (INEXS) in 1990 to provide premium quality geoscience and reservoir engineering consulting services to the worldwide oil and gas industry. He is actively involved with the management of many of the company’s largest projects, including restructuring, expert testimony and reports, bankruptcy litigation support, asset valuations, sell side mandates, field evaluations, and major acquisitions. He leads a team of twenty-five petroleum engineers, geologists, geophysicists, and accountants. His skills include strategic planning, leadership, presentation, business development, project management, and communication. Since the commodity price drop in 2014, Craig has led a diverse team rendering technical studies and reports that include several or all the following: Mergers & Acquisitions, Asset Valuations, Basin Studies, Expert Reports, Expert Witness Testimony, Litigation Support, and extended technical depositions for cases involving Magnum Hunter, Sabine, Energy XXI, New Gulf Resources, Saratoga, Stone, Ultra, and Sandridge. On behalf of banks, private equity, and private capital the team has performed due diligence evaluations for dozens of assets, and provided independent analyses of company operating costs and G&A. Craig led technical teams on various field development and exploration projects for clients in Venezuela, Turkey, the UK, Indonesia, Belize, Eritrea, Norway, Grenada, India, The Netherlands, Nigeria, Mexico, and numerous locations throughout the United States, including the Gulf of Mexico, leading to several major oil discoveries. Craig has led teams working more than one hundred buy-side mandates for PDP, field development, and pure acreage play acquisitions for both conventional and unconventional basins and plays in the United States and internationally.


Richard Ballard

Co-Chairman of the Board of Directors, COO, Member of Investment Committee, CEO of Biometrics Division

Mr. Ballard is a recognized global sales, marketing and operations leader with over 35 years of business to consumer, business to business and business to government leadership at Panasonic and PepsiCo. Mr. Ballard served Panasonic Enterprise Solutions Company, Panasonic North America (PESCO) for 14 years in various roles, attaining the position of Executive Vice President of Sales and Marketing. As one of the founding architects in the formation of PESCO, Mr. Ballard was responsible for PESCO’s Direct Sales, Marketing and Operations teams with collaborative oversight of the Solutions and Delivery teams. The North American markets for which he was responsible included Professional and Collegiate Sports, Entertainment, Digital Out of Home, Place Based Networks, Smart Cities, Connectivity (Wi-Fi), Eco and Education verticals. Prior to his tenure at PESCO, Mr. Ballard enjoyed a long and diverse 23-year career at PepsiCo, where he held several domestic and international executive positions in sales, marketing and operations, including Director of International Sales where he led international global sales and marketing organization development plans and execution for Europe, Asia, South and Central America, Middle East, Russia and Africa for PepsiCo beverage products.


IndoVest Capital

Security Token and IndoVest Capital Ltd. - Ecosystem & Platform Introduction

IndoVest Capital Inc. (“IndoVest” or the “Company”) is a newly formed private equity company whose mandate is direct investment in Indonesia in the following industries: oil & gas, mining & refining, infrastructure and renewable energy. The primary purpose of IndoVest is to maximize cash flow via project finance investments in collaboration with the Indonesian government whenever possible (for example, the Indonesian Government Owned Oil & Gas Major).

The primary reason IndoVest is using a security token to raise $2 to $4 billion in permanent equity capital is to provide a liquid exit strategy for investors within one year, when the IndoVest Token will be registered on various exchanges around the world. The Company’s investments will have high ROI/IRR hurdle rates and relatively low risk characteristics for the purpose of generating substantial cumulative quarterly dividends equal to 65% of Net Income to be paid future IndoVest Security Token Holders.

The problems with passive investing in Indonesia which IndoVest and its security token solve:

  • The Indonesian Stock Exchange (IDX) total market capitalization is only US $503 billion (September, 2019) and the stocks are thinly traded.
  • Many of the best companies are privately held.
  • Investing in the oil & gas, mining & refining, renewable energy and infrastructure sectors must be done in collaboration with the government.
  • Corruption, which requires the expenditure of substantial legal fees and audit fees to prevent.

The fundamental benefits to investors of IndoVest using a Security Token to raise permanent private equity capital for investment are:

  • The payment of cumulative quarterly dividends, equal to 65% of the Net Income After Taxes;
  • The democratization of private equity fund investments – the IndoVest Token will be priced at $100 each.
  • Opportunity for large passive investors who want to safely invest $5 million to $250 million in Indonesia in oil & gas, mining & refining, renewable energy and infrastructure.
  • There is an exit strategy (within the first year) that is readily available when the IndoVest Token is registered on exchanges around the world after the STO is complete. Unlike typical PEF investments where the investor is locked up for 10+ years.

The other disruptive aspect of the Security Token is that the Company will be making high quality investments with low risk profiles and exceptionally high IRRs, often in partnership with the Indonesian government, just like large, top tier, professionally managed institutional quality private equity funds would (such as Apollo Global Management, Blackstone Group, Carlyle Group, KKR, etc.), which usually only very wealthy people and institutional investors that can afford to invest at least $5 to $25 million can participate in[1].

With IndoVest Capital’s Security Token, individual investors can participate directly in the Company’s interest income, dividend income and realized capital gains simply by purchasing the Security Token for $100.00 each in the STO. The Security Token therefore, represents the democratization of Private Equity Fund investments. In addition to creating real, fundamental cash value for the Security Token, in order to properly protect the token holders, the Company will operate with transparency; proper corporate governance; certified annual financial statements; quarterly financial statements; a lockup period for founders and insiders who own the Security Token properly coded into the platform and a fixed limit of 200 million Security Tokens issuance forever with no ability to alter that limitation. There will be Smart Contract based Fund Protocols which provides security (fraud protection) and transparency for investors via decentralized and immutable fund ledgers.

The purpose of IndoVest Capital Ltd.’s STO is to raise permanent equity capital for a private equity fund that has created a unique opportunity to invest in Indonesia in collaboration with Masindo Artha Sekuritas and the Indonesian government in the oil & gas, mining and refining, infrastructure and renewable energy sectors. INEXS is the Company’s oil & gas advisory firm – INEXS is located in Houston, Texas and advises five of the largest oil & gas companies in the world and three of the largest private equity funds that invest in oil & gas. CVMR is the Company’s mining and refining advisory firm and is located in Toronto, Canada. CVMR provides technology and builds refineries for three of the largest mining companies in the world, the US Department of Defense, Boeing, GM and 3M, etc. CVMR has the most technologically advanced metal powder refineries in the world located in the US, Germany, China and Africa. The security token is simply an efficient way to issue a security in multiple jurisdictions (countries) with the most important elements permanently embedded in the blockchain ledger. The primary advantage of the security token is future liquidity - so instead of being locked up in a private equity fund for a minimum 10 year period, we expect that the security tokens will achieve substantial liquidity within 6 months to one year subsequent to the closing of the STO.

These primary security token characteristics are:

  • The security token holder receives a total of 65% of the NIAT on a quarterly basis - this is almost exactly equal to the 1/3 GP to 2/3 LP split you typically see in real estate investment partnerships.
  • The total number of security tokens that can be issued during the entire life of the private equity fund/IndoVest Capital is 200 million;
  • As long as the security token continues to appreciate in price over time due to the cash dividends received by token holders, the issuance of additional tokens in secondary offerings will be anti-dilutive.
  • Founder/insider tokens are restricted to 20% of the issued and outstanding tokens at all times.
  • All founder/insider tokens issued have a three year lock up period - this is also permanently embedded in the blockchain ledger. This means that founders and insiders can only sell 8.33% of their tokens every quarter, 33.33% every year.
  • STO issuance price is $100.00 per security token. The IndoVest token will not be listed for trading on any exchanges until after the STO is completed, thereby ensuring that all investors pay $100.00 per token.
  • The Company intends to raise $2 billion to $4 billion in the STO by issuing 20 million to 40 million tokens. This will result in the issuance of 5 to 10 million founder/insider tokens.
  • During the STO, IndoVest will do rolling closes in tranches of $250 million each. The Company becomes fully operational when the first $500 million is raised.

[1] Non-scalable fund administration results in high minimum investment requirements that exclude most accredited investors.


CVMR® (Chemical Vapour Metal Refining Inc.)

CVMR®'s processes do not melt the metals as is done in the usual smelting processes. CVMR®'s plants are pollution-free and completely neutral to the environment. They create no air, water or soil pollution of any kind. CVMR®'s plants are hermetically sealed and all gases used in its various processes of vapourizing the metals are recycled.

All CVMR®'s refining/manufacturing plants are built on a modular basis, enabling a substantial degree of flexibility, allowing a plant to be built and to grow in size gradually, in different phases. Each phase is self-sufficient and pays off its own capital cost in a short period and continues to operate
as a module within the larger, fully integrated operation.

The production of metal powders inevitably attracts highly-valued sophisticated industries with high-paying industrial jobs as secondary industries that CVMR®'s products can feed into just-in-time delivery, enhancing any host country’s economy far beyond the value-added to the mined and recycled metals or CO2. CVMR®'s products have had a very strong, dependable export market for high value metal powders and complex net shapes in the past 35 years.

Client List (including but not limited to):

US DOE, Canadian Department of Defense, NASA, General Motors, Sama Resources Inc., Vale- INCO, Galvanoform, Brush Wellman, Falconbridge (Glencore/Xstrata), US Bureau of Engraving.

Go to CVMR Website >


Masindo Artha Sekuritas

Masindo was established in 1993, in order to service institutional clients, both local and international, and high net worth individuals. It is one of the few independent securities brokerage and investment banking firms in Indonesia and, consequently, provides completely objective advice. As a full member of IDX, Masindo has and still retains the following licenses: Security Trading, Corporate Finance, Asset Management, Corporate & Economic Research and Bond Issuance. Masindo offers a full range of services including Stock Broking, Underwriting, Initial Public Offerings, Investment Banking and Investment Management Advisory Services, Capital Raising in the Debt and Equity Capital Markets. Counterparty Institutional relationships exist with Deutsche Bank, HSBC, DBS Bank, Barings Bank, SHK & Co., Banque Paribas and many others.

Masindo Artha Sekuritas PT is the Exclusive Buy-Side Investment Banking Advisor to IndoVest Capital Inc. in Indonesia. Effy Soeharsono is the President Commissioner of Masindo Sekuritas PT for the past 25 years

Masindo is a well-respected full service, fully licensed, investment bank and institutional brokerage firm located in Jakarta, Indonesia. Masindo is a full member of the Jakarta Stock Exchange (JKSE ; Now “IDX”). As a full member of IDX, Masindo has and still retains the following licenses: Security Trading, Corporate Finance, Asset Management, Corporate & Economic Research and Bond Issuance. Counterparty Institutional relationships exist with Deutsche Bank, HSBC , DBS Bank , Barings Bank, SHK & Co. , Banque Paribas and many others.

Masindo provides clients with discretionary investment management services. Its philosophy is to achieve long term capital growth by identifying and selecting fundamentally sound and undervalued companies along with companies that have significant potential for growth.

Go to Masindo Website >


Indonesia Renewable Energy Sector

Natural gas resources have a crucial role in the transition [toward cleaner energy]. Indonesia has more gas reserves than oil and the former is also much cleaner,” said the president director of energy firm PT Q Energy South East Asia David Braithwaite, who is also the report’s researcher. Above and beyond the economics of the oil and gas sector when compared to renewables is the fact that Indonesia has committed to going 23% renewable by 2025 as part of the Paris Climate Agreement.

Indonesian leaders have committed to going 23% renewable by 2025 per Paris Climate Agreement. With Indonesian regional governments providing fiscal and non-fiscal incentives to encourage the development of renewable energy, this is a great time for wealthy individuals to take climate action into their own hands.

Indonesia has the natural resources to become a global leader in saving the environment. Whether it’s Wind, Solar, Tidal or Geothermal—Indonesia has abundant sources of renewable energy potential.

Geothermal Potential
The benefit of existing along the Ring of Fire is the abundance of geothermal energy waiting to be harnessed. Indonesia has 29 GW of potential geothermal energy across 285 locations. That’s 40% of the world’s total geothermal energy stores. Indonesia is currently harnessing only 4-5% of Geothermal potential.

Tidal/Hydro Potential
Indonesia has a total 75,670 MW potential of electricity generated from hydro or tidal sources, 60MW of this is tidal. As an archipelago, Indonesia is rich in coastlines, which provide the perfect wind and ocean currents for harnessing tidal power. Only 5% of potential is currently in use.

Wind potential
Indonesia has 9.3 GW of on shore Wind potential. 85% In Java, Bali, Sulawesi and Nusa Tenggara.

Renewable Energy
50 million Indonesians (20% of the population) remain without electricity. One reason for this is the price of getting coal and diesel energy to the many outlying islands is so expensive. 3,000 kW per hour to get to the poorest and most remote communities. For perspective, that’s roughly double the price of electricity in Australia. That’s why localised, renewable energy sources must be set up to provide for Indonesian’s on the sidelines. These 50 million people need electricity. Providing immediate clean energy will not only ensure that their precious ecosystems are sustained for generations to come. It will deliver a sustainable Indonesia. It is clear that based on the abundance of renewable energy resources and the massive opportunity for buildout in this space that IndoVest will be well positioned to capitalize and be a leader in helping Indonesia achieve its renewable energy production and sustainability goals.



Such spending would build on President Joko Widodo’s strategy of using infrastructure as a key plank to boost economic growth and spread wealth beyond the main island-powerhouse of Java, where the capital is located. The proposed investments exceeds Indonesia’s previous $350 billion infrastructure drive—then the larges in the nation’s history—set during Jokowi’s first term. The new spending plan is equivalent to about 5.7% of gross domestic product from 2020 to 2024, during which the government has targeted economic growth of 5.4% to 6%, according to the draft of the proposal.

According to the draft plan, about 17% of the infrastructure spending will go toward energy. In the last year, the Indonesian government has announced 13 economic policy packages (“deregulation packages”) focusing on the deregulation of investment and tax incentives.

Building critical ports and facilities is particularly complicated and costly in Indonesia because the country is dispersed across 17,000 islands through an area spanning the distance between New York and London. “The only way for Indonesia to have higher economic growth is connectivity,” Brodjonegoro said in Jakarta. “We are planning to establish the equivalent of a highway for the skies by building airstrips or smaller airports for connectivity” in remote areas such as the Papua region, he said. The proposal is a “positive breath of fresh air” for Indonesian state-owned construction companies, said Evan Hadiwidjaja, head of research at PT Sinarmas Sekuritas.

This ambitious plan could benefit their longer term pipeline although their balance sheets could be strained, he said. Shares of state-owned builders reversed earlier gains to close lower Thursday, as a selloff in Indonesian and other Asian stocks deepened on concern that the trade war between the U.S. and China will escalate. Despite the potential benefits, massive projects have been challenging for the government to finance in recent years, partly due to low tax compliance in Indonesia and weak commodity prices that have strained the state budget.

Several projects have been shelved or delayed, even as bodies including the World Bank have warned of a massive infrastructure gap limiting economic growth. Indonesia has been expanding at about 5% a year. While the government is aiming for growth of 5.3% to 5.6% next year, that’s still short of the 7% Jokowi had targeted before his first term began. The president, popularly known as Jokowi, is expected to be confirmed for a second term when official results of the April 17 election are announced next week.

The ministry is preparing final documents on the investment plan to present to the president for approval, a ministry spokesman said. The proposed investments exceed the $350 billion infrastructure drive -- then the largest in the nation’s history -- set during Jokowi’s first term. The new spending plan is equivalent to about 5.7% of gross domestic product from 2020 to 2024, during which the government has targeted economic growth of 5.4% to 6%, according to the draft of the proposal. The government is open to the possibility of financing some projects through debt, Brodjonegoro said. According to the draft plan, about 17% of the infrastructure spending will go toward energy, followed by 10% for irrigation.

The Indonesian government has in recent years put in place a robust institutional framework to support its infrastructure plans. In the last year it has announced 13 economic policy packages (“deregulation packages”) focusing on the deregulation of investment and tax incentives. The government expects these deregulation packages to improve Indonesia’s competitiveness and help to attract investment by cutting bureaucracy and providing greater legal and business certainty. A key target announced by the President is to raise Indonesia’s position in the World Bank’s Ease of Doing Business index to 40 by 2019. Indonesia has moved to position 109 in 2016, out of 189 economies, but it is still behind directly competing Association of Southeast Asian Nations (ASEAN) countries such as Singapore, Malaysia and Thailand.

The government expects that the impact of the deregulation program will be more significant in the coming years since it plans to speed up implementation of deregulation packages at the working level. All of this deregulation, along with the commitment to infrastructure spend points towards the opportunity for IndoVest to be a significant contributor to the build out of infrastructure in Indonesia given our strong positioning for public private partnerships and other select investments.

Over the past decade, Indonesia has been a consistent performer in an otherwise weak and volatile global economy. GDP Growth has averaged
5.3% a year
from 2000 to 2018 and the economy has proven remarkably resilient, withstanding
numerous shocks including the global financial crisis of 2008–09,
the end of the China-fueled commodity boom around late 2011,
and acute market pressures during the ‘taper tantrum’ of May 2013.


Oil & Gas

Cutting dependence on imported crude will promote growth, maintain fiscal stability, and support national security. We estimate that maintaining 2016 production levels could unlock up to $120 billion in added GDP over the next decade—equivalent to an additional 1.4% of GDP growth a year. If current trends persist by 2026, the gap will reach 2.3 million barrels of oil equivalent per day. Indonesia will need to import 2.5 times its production, putting significant pressure on the country’s currency and energy security. If current trends persist by 2026, the gap will reach 2.3 million barrels of oil equivalent per day. Indonesia will need to import 2.5 times its production, putting significant pressure on the country’s currency and energy security. However, Indonesia has a choice to generate substantial revenues for itself.


Mining & Refining

CVMR® Indonesian Laterite Ore Processing Refinery: this $473 million CVMR® refinery that produces nickel and iron carbonyl powders will be paid for by Indonesia Investments from the STO proceeds and has a projected annual pre-tax ROI of 65.6%. The most important thing about metal powders is that they generally sell for 6 to over 10 times the price of the underlying metal, therefore significantly mitigating commodity pricing risks. Indonesia Investments will be working closely with the Indonesian Ministry of Energy and Mineral Resources on all mining and refining investments.


Masindo Artha Sekuritas

Masindo was established in 1993, in order to service institutional clients, both local and international, and high net worth individuals. It is one of the few independent securities brokerage and investment banking firms in Indonesia and, consequently, provides completely objective advice. As a full member of IDX, Masindo has and still retains the following licenses: Security Trading, Corporate Finance, Asset Management, Corporate & Economic Research and Bond Issuance.

Masindo offers a full range of services including Stock Broking, Underwriting, Initial Public Offerings, Investment Banking and Investment Management Advisory Services, Capital Raising in the Debt and Equity Capital Markets. Counterparty Institutional relationships exist with Deutsche Bank, HSBC, DBS Bank, Barings Bank, SHK & Co., Banque Paribas and many others. Effy Soeharsono is the President Commissioner of Masindo Sekuritas PT and is the Exclusive Buy-Side Investment Banking Advisor to IndoVest Capital Inc. in Indonesia.

Go to Masindo Website >


Interactive Exploration Solutions Inc.

The INEXS technical teams of reservoir engineers, pipeline and refinery engineers, geologists, petrophysicists, and geophysicists have worked hundreds of the major petroleum basins and projects worldwide. INEXS teams have generated independent asset valuations for companies in virtually every basin in North America and 40 countries around the world. INEXS provides technical valuation and operational insight, clarity, and accuracy for oil companies, banks, capital providers, investment funds, law firms, and creditors.

INEXS has provided the technical heavy lifting for more than a dozen sell-side mandates with assets in the Permian, Utica/Marcellus, Haynesville/Cotton Valley, GOM, and Eagle Ford for Chevron, BP, Marathon, and several others. INEXS has worked the buy-side on over 100 asset acquisitions over the past 20 years.

INEXS has extensive experience providing detailed analysis of producing fields to identify additional proved reserves, new drilling opportunities, and operational efficiencies. INEXS teams have worked dozens of fully integrated reservoir studies to model production, enhance reserves, model water flood and CO2 flood projects, and options for production optimization.

Investment in Indonesia’s oil and gas industry is attractive for multiple reasons:

  • Oil and gas production activity is prevalent over much of the country
  • Many fields have suffered from improper exploitation practices and are candidates for remediation
  • Many existing concessions represent underperforming fields with significant redevelopment potential
  • There are many EOR water-flood, gas re-injection, and infill-drill candidates
  • Many fields can become productive with CO2 injection or other enhanced recovery processes
  • There have been numerous successful EOR projects already completed by Pertamina confirming the success of EOR as an ongoing program

Indonesia Oil & Gas Investment Opportunities:
The country of Indonesia has been producing oil and gas for more than 100 years, however production has declined in recent years while domestic demand has increased, forcing Indonesia to now import significant amounts of oil to meet that demand. The government passed new legislation in 2018 with more attractive terms for investment capital to flow into the oil and gas industry.

  • Indonesia’s national oil consumption is at its highest level since 1965 and has been growing at an average 2.8% per annum for the last decade.
  • This tracks a corresponding economic growth averaging 5.6% over the same period, along with a rising per capita energy consumption. 

  • As a result the country’s proven oil reserves have been on a declining trend since 2000. 

  • Indonesia is importing 57% of its oil demand, which will continue to increase unless it can significantly bolster domestic production.

Go to INEXS Website >


Tokensoft Scope of Service

TokenSoft engineers also developed the ERC-1404 standard, an open standard that allows issuers to control investor limits, manage investor whitelists, and implement compliance requirements globally. ERC-1404 also can be used to implement with other standards like Polymath’s ST-20 or Harbor’s R-Token.

Comprehensive Regulatory Compliance Support: Offering and issuing a digital asset can involve a variety of regulations. At TokenSoft, their clients typically require a range of services that encompass banking, securities and tax laws globally. Additionally, as regulators around the world seek to adapt to global trends, laws and regulations remain fluid. TokenSoft has served its clients in this environment through the Swiss Financial Market Supervisory Authority (FINMA) guidance to the Bank Secrecy Act and FinCEN anti-money laundering and beneficial ownership requirements.
Auditing & Reporting: TokenSoft has been uniquely positioned to meet the auditing standards of the big four auditing firms. The level of tracking and transparency our platform provides enables our clients to meet the most complex tax and reporting requirements.
Cold-Storage Administration of Smart Contract: Online exposure to the ownership or administration functions of a smart contract can put your operations at risk. With a potential $100 million- $1 trillion+ in market cap trading, it’s important to take the safest route. Managing your contract through online wallets, carries high risk of malware or hacking exposure. Using the Knox Wallet, the first custody solution of digital securities, you can administer your funds securely, with no risk of malware exposure.
Institutional Support: TokenSoft clients may seek to onboard institutional investors or qualified purchasers. These investors carry unique needs that TokenSoft has been able to provide. Whether it is particular experience or institutional grade custodial requirements, TokenSoft provides the tools necessary to meet these needs.

Go to Tokensoft Website >


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Due Diligence and Investor Documents: Due to country specific regulations we are required to gather your information to determine your eligibility as an investor. Please provide us with accurate information about yourself and/or your institution. We will carefully review your information and send you the documents upon approval.



Full Service Law Firm Capabilities - Dentons today is radically different compared to the Dentons that existed several years ago. We have been listening to what our clients really want and are investing in transformative technologies to increase collaboration and consistency, and improve client service.

Top Tier Technical Expertise – We value technical expertise above all else. We are however mindful that we must offer our clients practical, logical and creative solutions which serve their commercial and strategic purposes, which are also compliant with laws at the same time. Our practices are consistently ranked highly by Chambers and The Legal 500.

Top 10 Acritas 2018 Global Elite Brand – Dentons is the world's first polycentric global law firm. A top 10 firm on the Acritas 2018 Global Elite Brand Index, the Firm is committed to challenging the status quo in delivering consistent and uncompromising quality and value in new and inventive ways. Driven to provide clients a competitive edge, and connected to the communities where its clients want to do business, Dentons knows that understanding local cultures is crucial to successfully completing a deal, resolving a dispute or solving a business challenge.

Highly Ranked for Client Service – Leading global clients rank Dentons number three in client service, according to a survey released by BTI Consulting Group. The rankings of the 319 law firms recognized in the BTI Client Service A-Team 2018 are the result of 350 in-depth interviews with legal decision makers at the world's leading organizations. The analysis is based on 17 objective factors, which corporate counsel consider the most important and influential in a law firm relationship. We are gratified by the trust that clients have placed in us and this ranking serves to spur us to provide even better service to our clients.

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