Fiscal rescue—or fiscal control?

Apr 27, 2026 | Market, Politics

The Home Affairs Minister Tito Karnavian announced Rp1 trillion in incentives for high-performing regional governments. The policy was framed as a reward for innovation and discipline. But beneath the surface, is this really fiscal support—or a new mechanism of...

Unpaid Honorary Teachers

Apr 27, 2026 | Politics

A total of 3,823 honorary teachers in West Java have reportedly gone unpaid; some for two months, others for four. The issue stems not from a lack of funding, but from the central government’s policy that no longer recognizes honorary teachers as a legitimate...

Off-budget defense: Reform undone?

Apr 27, 2026 | Market, Politics

A recent draft of the Government Regulation on the Duties of the National Armed Forces (RPP Tugas TNI) has sparked concern among researchers, including those from National Research and Innovation Agency (BRIN). The controversy centers on a seemingly technical clause:...

Two terms for presidents, unlimited for party bosses?

Apr 27, 2026 | Politics

The Corruption Eradication Commission (KPK) proposed limiting political party chairpersons to two terms. The reaction from party elites was swift—and telling. They rejected it almost outright, invoking autonomy, legal technicalities, and the familiar argument that the...

Squeezed margins at DSNG & STAA

Apr 27, 2026 | Market

Palm oil producer Dharma Satya Nusantara (DSNG) booked net profit of Rp430.4 billion in the first quarter of 2026, an increase of 17% from the corresponding period last year even when its operating margins were squeezed. DSNG actually reported 7.7% growth in sales...

Market pressures update

Apr 27, 2026 | Market

Financial markets opened this week with fading hopes of immediate reopening of the Strait of Hormuz following the cancelled US-Iran talks in Islamabad. Iran, whose economy is on the brink, however, has stepped up diplomatic efforts which might lead to reopening of the...

Those continue to invest: TSH Resources

Apr 27, 2026 | Commodities, Market

KLSE-listed TSH Resources Berhad is among Malaysian companies aggressively expanding plantation in Indonesia. The most recent is the company’s acquisition of PT Dinamika Alam Segar (DAS). TSH Resources, through its indirect subsidiary PT Sarana Prima Multi Niaga,...

Stronger Q1 for AKRA

Apr 27, 2026 | Market

AKR Corporindo (AKRA), distributor of fuel and chemical products, posted net profit of Rp656.5 billion in the first quarter of 2026, an increase of 16.1% from the corresponding period last year despite difficulties in the retail distribution related to import...

Upstream weighs on Pertamina Gas

Apr 26, 2026 | Market

PT Perusahaan Gas Negara Tbk (PGAS), subsidiary of state oil and gas company Pertamina, booked net profit of US$90.5 million in the first quarter of 2026, jumped by 46% from the corresponding period last year despite lower sales revenues. Sales revenues declined 3.8%...

BankJago: Improved, but not exponential

Apr 26, 2026 | Market

Shares of digital bank Jago (ARTO) ended substantially lower by 4.1% to Rp1,300 on Friday (Apr 24) even when the bank reported a strong net profit growth of 43% in the first quarter of 2026.  At the last quoted price, Bank Jago was traded with PE multiple 54, way...