Day: August 9, 2016

The Bet on Go-Jek

Posted by | Aug 9, 2016 |

The big news last week was that Go-Jek had secured US$550 million in a row of funding led by KKR & Co and Warburg Pincus. The deal supposedly valued Go-Jek at US$1.3 billion. Around the time the news broke, one of the founders of Go-Jek Michelangelo Moran shared an article in his Facebook timeline in which Go-Jek was mentioned as the first Indonesian unicorn; Michelangelo Moran congratulated his colleagues for that announcement. Indeed, this is a big deal for Go-Jek, but is it too big a deal?

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They Who Could Be the Next Vice Minister of ESDM and the Next Chief of SKK Migas

Posted by | Aug 9, 2016 |

A Minister of Energy and Mineral Resources (ESDM) in Indonesia must not only be proficient in the field, he or she must also possess integrity and the courage to reform the energy sector. To do that the minister will need the help of able deputies and subordinates. The choice matters. Ever since the appointment of Archandra Tahar as the new Minister of ESDM many has begun to wonder whether he will bring in new people to help him do the job. Rumors are out there that Minister Archandra will bring in Darmawan Prasodjo as the new Chief of the Speacial Taskforce of Upstream Oil and Gas Activities (SKK Migas) and Johanes Widjanarko as the new Vice Minister of ESDM.

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What if Tax Amnesty Fails…

Posted by | Aug 9, 2016 | , ,

President Joko ‘Jokowi’ Widodo continued his nationwide roadshow to sell the tax amnesty program. When he talked before 3500 participants, presumably taxpayers, in Bandung, West Java yesterday, tax office had collected Rp231 billion from Rp10.9 trillion of declared and repatriated assets.

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DPR’s Job Performance

Posted by | Aug 9, 2016 |

The House of Representatives (DPR) had five periods of deliberation for the 2015-2016 calendar. And yet they lawmakers have only managed to show a slight increase in performance when compared to 2014-2015 calendar of deliberation. For 2014-2015 had entered 41 Bills in the list of prioritized legislation for 2015, but only 3 of the Bills were deliberated into Law:

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Forest Fire Investigation in Riau and the Question of Legal Certainty

Posted by | Aug 9, 2016 |

After nearly a year of investigation, in July 2016 the Riau Regional Police (Polda Riau) decided to issue a Warrant for the Termination of Investigation (SP3) to 15 companies with plantation and forestry license that were previously accused of being the perpetrators of the 2015 forest fires. Many quickly expressed their disappointment, especially remembering that President Joko “Jokowi” Widodo had clearly promised firm punishment for the perpetrator of what was considered to be the worst forest fire in Indonesia’s history. That said, the objections seem to have waned, perhaps because of the flurry of other issues that has come since. So where are we today with this issue? Has the SP3 closed the chapter?

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2017 Aceh Election: The Independent Candidates

Posted by | Aug 9, 2016 |

The incumbent Governor of Aceh Zaini Abdullah has finally registered himself and his running mate the incumbent Regent of Aceh Tengah Nasaruddin as an independent pair of candidates. Zakaria Saman also registered himself and his running mate Teuku Alidinsyah to the local election (KPUD) of Aceh as an independent pair to participate in the Aceh’s 2017 gubernatorial election. If they are all able to pass the verification process, they could face three other pair of governor cand vice governor candidates from three different coalition of political parties.

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First Half Capex & Second Half Growth

Posted by | Aug 9, 2016 | , ,

We have completed collecting data about the real capital expenditures (cash-basis) from 103 companies listed in the stock and bond market. Unlike the first batch of 64 companies, the second batch led to overall 0.7% growth to Rp52.9 trillion of cash used by 103 companies in investing activities, mostly to acquire fixed assets.

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Market & Economic Optimism

Posted by | Aug 9, 2016 |

On Monday August 8, Bank Indonesia (BI, the Central Bank) reported that consumers’ confidence level in July had improved compared to the previous month, along with the consumers’ expectation of current economic development.

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Oil & Gas Journal

Posted by | Aug 9, 2016 |

Crude futures advanced 2.9% to $43.02 a barrel in New York on Monday, after tumbling more than 20% into a bear market last week. Members of the Organization of Petroleum Exporting Countries (OPEC) are in “constant deliberations” on stabilizing the market. Prices are expected to rise in the latter part of 2016, Mohammed bin Saleh Al-Sada, Qatar’s energy minister and holder of OPEC’s rotating presidency, said on the group’s website.

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