Double blow: Corruption in the free meal program

Jun 3, 2026 | Market, Politics

A lot of people, including foreign investors, have long questioned effectiveness of Prabowo administration’s costly free meal program. Indonesians have also long suspected corruption in the program, but had only been confirmed at grandeur scale with the arrest of...

Further market corrections: What’s next?

Jun 3, 2026 | Market

Composite index of IDX (IHSG/JCI) pared some losses to end lower by 4.11% Wednesday (Jun 3), while rupiah depreciated further and was traded above psychological level Rp18,000/US dollars in some banks.  IHSG dropped as much as 5.4% before recovery of some inflated...

Revisiting Harum Energy

Jun 3, 2026 | Market

PT Harum Energy Tbk (HRUM), a coal and nickel producer controlled by the family of Kiki Barki, is scheduled to hold a public expose today (Jun 3) where investors will have the chance to discuss issues like production cut (for coal and nickel), centralization of export...

Leadership Change at BGN: What’s Up?

Jun 3, 2026 | Politics

President Prabowo Subianto has officially removed Dadan Hindayana from his position as Head of the National Nutrition Agency (BGN) and appointed Nanik Sudaryati Deyang as his replacement. The sudden leadership change was announced by Minister of State Secretary...

Company to watch: Modernland Realty

Jun 3, 2026 | Market

Singapore Court has on May 26 granted an application for a statutory moratorium to Modernland Overseas Pte Ltd (MLO), subsidiary of IDX-listed property developer Moderland Realty (MDLN), until August 31, 2026.  Until that data, no order may be made, and no resolution...

Tax first, rules later?

Jun 3, 2026 | Law, Market

Ambition to expand tax collection from the digital economy is understandable. As more Indonesians pay for streaming subscriptions, cloud services, software licenses, AI platforms, and online games from overseas providers, the government has a legitimate interest in...

Lost in translation

Jun 3, 2026 | Politics

President Prabowo Subianto’s recent call for French to be taught across Indonesian schools has generated curiosity, excitement and skepticism in equal measure. Presented during a state visit to France and in the presence of President Emmanuel Macron, the proposal was...

New faces of nutrition agency

Jun 3, 2026 | Politics

President Prabowo Subianto recently removed BGN chief Dadan Hindayana and replaced him with Nanik S. Deyang. At the same time, both deputy heads—Sony Sonjaya and Lodewyk Pusung—were dismissed. Their replacements are Agustina Arumsari, a senior state auditor from BPKP,...

False recovery of stocks, rupiah remains under pressure

Jun 2, 2026 | Market

Composite index of IDX (IHSG) ended higher by 1.1% Tuesday (June 2), while Rupiah weakened 0.19%. Rupiah yet to cross the psychological level (Rp18,000), but remains under pressure from both global and domestic issues. IHSG recovered mostly due to rally in high...

Key takeaways from April 2026 tourism & transportation data

Jun 2, 2026 | Market

Iran war, which led to soaring oil prices, hurt domestic air transportation significantly in April 2026 despite Lebaran holidays. Arrival of foreign tourists from the Middle East and Europe also dropped substantially in the month. Air travel The Central Bureau of...