Under-invoicing and transfer pricing investigation (1): Palm oil

Jun 7, 2026 | Market

Directorate general of tax at ministry of finance is currently investigating 32 palm oil companies suspected of their involvement in under-invoicing and transfer pricing practices. Interestingly, some palm oil companies have since last year reduced significantly their...

SCG Chemicals’ divestment of Chandra Asri

Jun 7, 2026 | Industries, Market

Shares of Chandra Asri Pacific (TPIA), the largest petrochemical company in Indonesia venturing into oil refinery business in Singapore, ended substantially lower by 5.1% to Rp1,305 on Friday (Jun 5) due to broad market sentiment and divestment of 11.82 billion shares...

Fiscal sustainability & PLN’s financials

Jun 7, 2026 | Market

State electricity utility PT Perusahaan Listrik Negara (PLN) has just released full year 2025 financial statement, where it posted net profit of Rp7.01 trillion, collapsed 67% from 2024 despite substantial increase in electricity subsidy and cost compensation payment...

Market corrections & the scapegoats

Jun 5, 2026 | Market

Composite index of IDX (IHSG/JCI) crashed 4.2% Friday (Jun 5), while rupiah weakened further to Rp18,130 per US dollar in some banks. Pretty much as predicted, government’s supporters blamed foreign investors/powers behind the corrections. It was a broad market...

Rewriting the rules, but keeping the same mentality?

Jun 5, 2026 | Market

Government’s PR agencies/influencers/economists boasted the establishment of Danantara’s DSI to control export of coal, palm oil and ferro alloys as an act of rewriting the rules. How many times Prabowo writing new rules but leading to the same old results? Indonesia...

Tony Robbins: Prabowo’s New Friend

Jun 5, 2026 | Profiles

The appearance of American motivational speaker Tony Robbins at the recent MBG consolidation event in Sentul has sparked public curiosity. Introduced by Prabowo Subianto as a friend who overcame poverty to achieve extraordinary success, Robbins was invited to share...

Mineral Exchange?

Jun 5, 2026 | Commodities, Market

The government’s plan to establish a National Mineral Exchange is being presented as a bold step toward economic sovereignty. The argument is simple: Indonesia is one of the world’s largest producers of nickel and other strategic minerals, yet prices are often...

Latest survey of Poltracking

Jun 5, 2026 | Politics

A new Poltracking survey shows that 72.2 percent of Indonesians are satisfied with the government’s performance, while public trust stands even higher at 74.2 percent. On paper, those numbers suggest a comfortable political position. Yet a closer reading of the...

Said Iqbal to enter the Palace?

Jun 5, 2026 | Politics

Rumors that labor leader Said Iqbal may soon be appointed as a Presidential Special Staff member on labor affairs have sparked intense discussion across Indonesia’s labor movement. While the Presidential Palace has yet to confirm the appointment, the speculation has...

Patriot Bond II, Merah Putih Bond

Jun 5, 2026 | Market

We first published an article about Patriot Bonds II in early December 2025 quoting some conglomerates approached by the government/Danantara. Given tight State budget, Danantara will eventually issue new series to indirectly finance ‘public/government programs’. “I’d...