KJPP Rengganis, Hamid & Rekan (KJPP RHR) was established in 2008 to provide independent valuation and advisory services. The transformation from a corporation (previously PT Heburinas Nusantara in association with CBRE) to a partnership (KJPP RHR) is to comply with the Ministry of Finance (MOF) regulation No. 125/PMK.01/2008. The firm has all the track record of PT HBN (est. in 1984) and has been registered in the MOF, Otoritas Jasa Keuangan (Financial Services Authority – OJK) and all major government and private banks. Since 1 March 2011, KJPP RHR have ‘strategic alliance’ with CBRE to conduct valuation and advisory services in Indonesia. Partners have licenses in property and business valuation, and currently there are 24 public valuers (licensed in MOF) and 100+ registered valuers in MAPPI (Indonesian Society of Appraisers). Over the years, KJPP RHR also established ten branches in Indonesia, including in Surabaya, Bali, Medan, Makassar, Yogyakarta, Semarang, Jakarta, Batam, Mataram, and Bandung.