Founder and Managing Partner


(6221) 574-7181

Highly regarded

Bahasa Indonesia

Bar admissions:




Practice areas:

Capital markets
Project finance
Restructuring and insolvency

Industry sectors:

Financial services
Industrials and manufacturing
Investment management
Real estate

Dr. Yozua Makes founded Makes & Partners in 1993 and has more than 35 years of experience in transnational mergers and acquisitions, corporate finance, project finance, foreign investment and a broad range of complex cross-border commercial transactions.

Yozua is astute in advising investors, and domestic and global companies in complex cross-border project developments, including providing strategy and assistance in structuring, negotiating and drafting transactional, corporate, and commercial agreements spanning across various industries and sectors. He is commended by clients for being a ‘razor sharp’ lawyer with comprehensive skills, adept in addressing legal, commercial, operational, financial, and even optical issues.

Yozua is a firm believer that solving a legal problem is much more than just knowing the law and, therefore, his legal advice is well formulated and inclusive of not only the client's legal interests but also their commercial well-being.

He has been recognized with several awards and recognitions including,among others; (i) Highly Regarded Leading Lawyers by IFLR1000 (2023) (ii)Elite Practitioner by Asialaw (2023) (iii) Shortlisted as Managing Partner of the Year at the Legal 500 South East Asia Awards (2023) (iv) Eminent Practitioner in Capital Markets by Chambers and Partners Asia Pacific (2023) (v) Eminent Practitioner in M&A by Chambers and Partners Asia Pacific (2023) (vi) Hall of Fame by Legal 500 (2022) (vii) Managing Partner of the Year at the ALB Indonesia Law Awards (2022) (viii) Top 100 Lawyers by Asia Business Law Journal the “A” List (2020, 2021 and 2022)

  • Yozua assisted PT Bank Mandiri (Persero) Tbk with its issuance of shelf/continuous green bonds and medium-term notes.
  • Yozua is currently assisting PT Bentoel International Investama Tbk, a giant multinational tobacco company in carrying out a Go-Private process. 
  • Yozua advised the international banks in the mega IPO of PT Dayamitra Telekomunikasi Tbk., (“Mitratel”) a subsidiary of state-owned PT Telkom Indonesia (Persero) Tbk. which was also hailed as the second largest IPO in the history of the IDX to date.
  • Yozua advised PT Global Digital Niaga (popularly known as Blibli) in its mega IPO which was hailed as the second biggest IPO in the IDX in 2022, and the fifth biggest IPO in the history of the IDX to date
  • Yozua and his team were involved in the intensive deal regarding the public offering of Dana Investasi Real Estat (Real Estate Investment Fund or "DIRE") Simas Plaza Indonesia by PT Sinarmas Asset Management, which included the sale of majority shares of PLIN. DIRE Simas Plaza Indonesia is the largest DIRE that has ever been offered in Indonesia, and the first DIRE whose units were listed on the Indonesian Stock Exchange.
  • Yozua advised on the mega acquisition of 94.03% shares in PT Solusi Tunas Pratama Tbk. (“STP”) by PT Profesional Telekomunikasi Indonesia (“Protelindo”) (the largest independent tower operator in Indonesia that offers passive infrastructure services to telecommunication companies, and owns and operates more than 28,000 towers and nearly 53,000 tenants), with more than 28,000 towers and nearly 53,000 tenants, from certain sellers through a rigorous bidding process. Since STP was a public listed company and Protelindo was a subsidiary of a public listed company, the Makes team under the supervision of Yozua had to maneuver a number of risks and develop strategies to fulfill the capital market requirements and solve all the legal issues.
  • Yozua acted for PT First Media Tbk and Asia Link Dewa Pte. Ltd, the two largest shareholders of PT Link Net Tbk (one of Indonesia’s biggest cable TV operators and fixed broadband internet provider), in the sale of their shares to Axiata, a Malaysian multinational telecommunications conglomerate. This was surely a milestone for Indonesia’s high-speed broadband market that otherwise remains deeply underpenetrated, as it showcased the client’s ability to provide a wider and more comprehensive product.

  • Banking and finance
  • Capital markets
  • Corporate and M&A
  • Restructuring and insolvency

  • Banking and financial services
  • Real estate
  • Technology and telecommunications

  • Appointed as a member and Indonesia’s representative in the recently established Southeast Asia Advisory Panel of Temasek (TSEAP), Singapore’s sovereign wealth fund.
  • Appointed by the President of Indonesia as one of the 5 highly distinguished members of the supervisory board of the Indonesian Investment Authority (Lembaga Pengelola Investasi), the first ever Indonesian sovereign wealth fund tasked to manage the investments of the central government and optimize economic growth.
  • Appointed as a member of the supervisory board of the Indonesian Chamber of Commerce and Industry (“KADIN”).
  • Registered Capital Market Lawyer with the Financial Services Authority (Otoritas Jasa Keuangan or “OJK”)

  • Bachelor of Law / Sarjana Hukum (S.H.), University of Indonesia, 1984
  • Master of Laws (LL.M.), University of California at Berkeley (Boalt Hall School of Law), 1987
  • Master in Management (M.M.), Asian Institute of Management, Manila Philippines, 1991
  • Advance Management Program (Alumni Degree), Harvard Business School, 2006
  • Doktor Ilmu Hukum (PhD), University of Indonesia, 2016.