Infrastructure Journal No. 03/2017

Indonesia’s sixth president Susilo Bambang Yudhoyono and his network continued to criticize Jokowi-Kalla administration’s infrastructure development. But, looks like President Jokowi is determined to push for faster development instead, especially for power plants, ports, airports, railways, toll roads, bridges, and mass transportation projects.

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SBY vs Jokowi-Antasari

The former chief of the Corruption Eradication Commission (KPK) Antasari Azhar is right for asking the former President Susilo Bambang Yudhoyono (SBY) to stop complaining, and instead to start doing something constructive, such as revealing the real killer of the Managing Director of PT Putra Rajawali Banjaran Nasruddin Zulkarnaen. Furthermore, Antasari, who have enjoying freedom after Jokowi’s administration gave him a parole a few months back, is also right for denying SBY’s claim that the State is in chaos. Antasari said that things were being implemented, which would not be possible if the States is in chaos. Antasari was perhaps alluding to Jokowi’s massive infrastructure development projects, which is in a way a jab for SBY, who is notorious for failed infrastructure development.

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Investment Update

The global investment in oil and gas upstream grew by 3% to US$450 billion after falling in the past 2 years. But concern emerges in the wake of U.S.’ new policy initiated by new elect President Donald Trump. Now crude oil price is expected to increase 30% this year, to US$57 per barrel from US$44 in 2016. Oil and gas companies have started boosting their investment in oil and gas upstream sector, but crude oil price might have a small jump amid the supply issue.

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SBY vs Antasari

Former President Susilo Bambang Yudhoyono’s (SBY) posted a tweet on the social media platform Twitter a few days ago. And it looks like what he posted has backfired. The former chief of the Corruption Eradication Commission (KPK) Antasari Azhar, for example, took note of the tweet, and gave SBY, who is also the Chairman of the Democratic Party, the suggestion to help reveal his case instead of saying that the State was is in chaos. Antasari, who was sentenced to 18 years for murder, as we all know, believe that he was a victim of high-level political plot executed under SBY’s regime.

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The Fate of FPI

By the end of 2016, we saw the Islam Defenders Front (FPI) leading a band of religious conservatives to accuse the Governor of Jakarta Basuki “Ahok” Tjahaja Purnama of blasphemy. This movement briefly threatened the stability of the nation, and emboldened the FPI to broadcast their deranged extremist views. An example of such views would be the accusation that the Central Bank had incorporated the logo of the banned communist party into the newly designed rupiah bills. The public has grown anxious to the point that calls for the disbandment of FPI emerged once more. Will the Government disband the FPI this time?

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The Trial of Amran Mustary: PDIP’s Involvement

The trial of the former Head of the IX National Roads Implementing Board (BPJN IX) Amran HI Mustary continues. From the process, we’ve discovered that Amran, who allegedly received bribes in connection with the Trans-Seram road project, is close to several politicians from Megawati Soekarnoputri’s PDIP party. Amran was accused of using a portion of the bribe money he received to finance the campaign of the current Regent of North Halmahera Rudi Erawan back in 2015.

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Market Snapshots & Corporate Actions

Wall Street closed mainly lower on Monday (Jan 23) amid uncertainties over Trump’s growth policies after the President struck a protectionist tone, tradingeconomics.com reported. The U.S. dollar fell to a seven-week low of US$100.2 against a currency basket. European stocks also fell on Monday following concerns over Trump’s policies. Trump has delivered a speech in which he promised to pursue a protectionist policy but failed to offer further details on his pro-growth infrastructure spending and tax cuts plans. Meanwhile Asian stocks closed mixed yesterday as investors awaited President Donald Trump to offer further details of his promised stimulus plan.

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Commodities & Indonesian Economy

Brent crude oil retreated 0.29% to US$55.3 per barrel Monday (Jan 22), but the commodity gained 81.12% year-on-year. Natural rubber inched up 0.07% to 287 yen/Kg in Tokyo, but the commodity already gained 78% year-on-year. Thermal coal also inched up 0.34% to US$83.8, but gained 60% year-on-year.

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RIMO & The Suspicious RTO of Hokindo Property

PT Rimo International Lestari (RIMO) TBk, a small retail company with total assets of Rp34 billion, has relaunched the reverse takeover (RTO) of property company PT Hokindo Properti Investama for total consideration of Rp4.06 trillion, roughly half of the earlier plan. After the RTO, RIMO will have total assets of Rp4.75 trillion.

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The World of Tommy Winata (1): Teddy Uban

Artha Graha Peduli, social organization of Artha Graha group (controlled by Tommy Winata), placed one full page of obituary on Hidajat Lukman AKA Teddy Uban and Maxwell Armand last Saturday (Jan 21). Teddy passed away at Mitra Kemayoran Hospital (unknown when, but his body was laid at army hospital RSPAD Gatot Subroto before the cremation), while Maxwell passed away at RSPAD Gatot Subroto.

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