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Covering Etomidate, SKP, Labuan IBFC, Smuggling, PRISM Submission. Coverage includes Indonesia’s SKP reduction for doctors, Singapore’s etomidate vaporiser charges and PRISM submission updates, Labuan IBFC’s new commodity trading guidelines, and smuggling enforcement actions impacting the ASEAN region.
Regulatory news, updates, and insights for countries in the ASEAN region presented by the Carver Agents team
Welcome to Carver's ASEAN Regulatory Updates for October 03, 2026.
In Indonesia, the Financial Services Authority, known as OJK, has officially revoked the business license of PT Credit Saison Indonesia Finance. This revocation follows the company's failure to resolve issues while under special supervision status. PT Credit Saison Indonesia Finance is now prohibited from conducting financing business and must proceed with liquidation. The company is required to settle all rights and obligations with debtors, creditors, and other parties. Additionally, PT Credit Saison Indonesia Finance must hold a general shareholders meeting within 30 working days from the license revocation to decide on company dissolution and to form a liquidation team. Clear information must be provided to stakeholders about the settlement mechanism.
Also in Indonesia, the Ministry of Health has lowered the Continuing Professional Development, or SKP, requirement for doctors and specialists from 250 to 160 SKP points every five years. The focus of SKP fulfillment now emphasizes service-related activities over learning and community service. Doctors must meet the 160 SKP requirement to renew their practice licenses. Implementation will be guided by an upcoming Minister of Health decree on SKP management.
The Indonesia Deposit Insurance Corporation, known as LPS, has maintained the guaranteed interest rates for deposits effective from October 1, 2026, to January 31, 2027. For Rupiah deposits in general banks, the guaranteed rate remains at 3.75 percent, while for Rupiah deposits in Bank Perekonomian Rakyat, it is maintained at 6.25 percent. Foreign currency deposits in general banks have a guaranteed rate of 2.00 percent. Banks are required to publicly display the maximum guaranteed interest rate and maximum insured deposit value at all branches and accessible locations. Depositors must be informed that deposits with interest rates exceeding the guaranteed rate are not covered by LPS insurance. LPS will continue to evaluate the guaranteed interest rates monthly.
Turning to Singapore, the Health Sciences Authority has charged a 33-year-old and an 18-year-old male for alleged importation and possession for the purpose of supply of etomidate vaporiser pods. These charges are under the Tobacco and Vaporisers Control Act 1993.
Singapore’s Health Sciences Authority has also issued regulatory updates for therapeutic product registration. Revisions have been made to Appendix 17 in the PRISM submission guidance, clarifying packaging configuration and submission requirements for individual or multiple packaging configurations under a single product registration. Updates have also been made to Appendices 2A, 3A, 13A, and 14A to reflect these changes. Additionally, the HSA announced an upcoming revision and consultation on the Minor Variation Checklist.
In Malaysia, Labuan International Business and Financial Centre has released an exposure draft on guidelines for establishing Labuan International Commodity Trading Companies. The draft introduces Environmental Commodities as a new qualifying commodity and differentiates revenue thresholds for agriculture and non-agriculture LITCs. New operational and capital requirements include minimum annual turnover, business spending, and external funding sourced from Labuan or Malaysian banks. LITCs must also employ at least two professional traders with specified responsibilities.
Also in Malaysia, Mr. Syahrul Imran Mahadzir delivered welcoming remarks highlighting enforcement actions taken against Labuan licensed entities for anti-money laundering and counter-financing of terrorism non-compliances from 2018 to 2026. A national symposium was held to enhance understanding and governance of non-profit organizations to mitigate terrorist financing risks. Non-profit organizations must understand and manage their own risks, strengthen governance oversight, and maintain clear records of funds and transactions. Entities are required to comply with AML and CFT requirements, including due diligence, reporting, and appointing compliance officers. Regulators and financial institutions are urged to apply proportionate, risk-based measures to protect the sector’s integrity and national security.
That wraps up today's regulatory updates. Visit carveragents.ai for more information.