Indonesia is getting strong on the Martial Arts scene with the new film Merantau (2009), which is radiating strong vibe of the first Ong Bak. Although Iko Uwais seems to be less charismatic, and his physical abilities are less impressive than Tony Jaa's, this movie still looks like very good action entertainment. You can't really put anyone on Jaa's level, so it's not fair to compare them anyway.
Merantau will be released in August, first in Indonesia and Asian markets, and later on DVD's in the Western hemisphere, I doubt it will see any theatrical release here. I just hope DVD distributors won't call it Ong Bak 3, like they did to Tom Yum Goong.
Source: Official website via twitch
Visit the video page of the movie to see lots of behind the scenes footage, including stunts and fighting scenes.