All out for self-sufficiency

Jan 8, 2026 | Market

President Prabowo Subianto proclaimed Indonesia’s self-sufficiency in rice, which was achieved on December 31, 2025. By not importing rice in that year, the President said his administration achieved the self-sufficiency three years ahead of target. He didn’t mention...

Chasing revenue without growth

Jan 8, 2026 | Market

Indonesia’s plan to pursue a tax revenue target of Rp 2,357.7 trillion in 2026 sounds bold on paper. Finance Minister Purbaya Yudhi Sadewa, the government insists that the target will be achieved not through new taxes or higher rates, but via tighter compliance,...

Land seizures and the quiet dismantling of legal certainty

Jan 8, 2026 | Law, Market

President Prabowo Subianto’s plan to seize another four to five million hectares of oil palm plantations in 2026 is being sold as a triumph of law enforcement. In reality, it risks becoming something far more troubling: a state-sanctioned admission that Indonesia has...

Djarum strengthens F&B business

Jan 8, 2026 | Market

Shares of Unilever Indonesia (UNVR), market leader for personal care business, slipped by 0.38% to Rp2,600 after the company’s announcement to sell its Sariwangi brand to Djarum Group. The company has recently entered into an agreement to divest its tea business under...

KDMP: The devil is in the detail

Jan 8, 2026 | Market

The Red-and-White Village Cooperative (KDMP) is the second largest program of Prabowo administration this year after the free meal program in terms of money to be spent. Capped Rp3 billion per cooperative, we’re talking about a combined Rp240 trillion. How this will...

Prabowo’s national car & KG Mobility

Jan 8, 2026 | Industries

Sigit Puji Santosa, chief technology officer (CTO) of sovereign wealth fund Danantara, who is also CEO of state defence contractor PT Pindad, revealed the company’s plan to develop an industrial estate in Subang, West Java province to kick start production of the...

Lessons learned from Brazil’s PNAE

Jan 7, 2026 | Politics

Recently, Prabowo Subianto once again touted Indonesia’s free nutritious meal program (MBG), praising the country for surpassing Brazil in the number of recipients. He pointed out that while Brazil took 11 years to reach 40 million recipients, Indonesia exceeded 55...

Speculations on INET & the controlling shareholder

Jan 7, 2026 | Market

Shares of PT Sinergi Inti Andalan Prima Tbk (INET), an Internet service provider (ISP), surged 16.1% on Tuesday (Jan 6) on the company’s plan to raise a combined Rp4.2 trillion from the issuance of new shares (rights issue) and bonds to finance expansion of fiber...

When even Astra walks away, Indonesia’s fintech delusion is exposed

Jan 7, 2026 | Market

The quiet exit of PT Astra Welab Digital Arta, better known as Maucash, should have triggered alarm bells across Indonesia’s financial sector. Instead, it passed almost unnoticed—treated as just another corporate adjustment in a slowing economy. That complacency is...

Garuda Spark and the Illusion of Startup Success in a Tech Winter

Jan 7, 2026 | Market

Indonesia’s government is once again celebrating numbers. Ten startups incubated in three months. Six innovation hubs promised by 2026. Millions of digital talents trained. Through programs such as Garuda Spark, the Ministry of Communication and Digital Affairs...