Day: February 2, 2017

Jokowi’s ‘Bumiputera Policy’

President Joko ‘Jokowi’ Widodo talked a little bit more about the new policy package being drafted in a bid to reduce economic disparity on Thursday (Feb 2nd). The President mentioned about 12.7 million hectares of land to be distributed to smallholders under what he considered a ‘land reform’. This is probably the third time in one week the president addressed the politically sensitive ‘economic disparity’ issue.

Read More

Controversy Arising from Ahok’s Trial

The Governor of Jakarta Basuki “Ahok” Tjahaja Purnama, who’s standing trial for blasphemy, has sat through eight trial sessions. The trials have been widely documented and reported by the press. But the eighth trial, which was held last Tuesday, could be the one proceeding that have produced the most headlines. The reason for that is a piece of information implied by Ahok’s lawyer while cross-examining the witness present in said proceeding K.H. Ma’ruf Amin. Ahok’s lawyer suggested that the chairman of MUI (and religious leader of the Nadhlatul Ulama, which is the largest Muslim organization in the country) may have once spoken to the Sixth President of the Republic Susilo Bambang Yudhoyono (SBY) over the phone, and that in said phone conversation, SBY urged Ma’ruf Amin to release a fatwa wherein Ahok is declared guilty of defaming the Qur’an and of insulting Ulemas.

Read More

On Goldman Sachs v. Benny Tojkro: Revisiting Beckkett v. Deutsche Bank (Part II)

The dispute between Singapore-based Beckkett Pte Ltd (an entity controlled by Indonesian tycoons Sukanto Tanoto and Hashim Djojohadikusumo), and Deutsche Bank A.G. (DAX:DBK) Singapore in the South Jakarta District Court reminded us that the Court once dismisses a shares lien lawsuit with the argument that a transfer of rights to shares can be conducted in private. And so we wonder, how will the dispute between Benny Tjokrosaputro and Goldman Sachs International end?

Read More

People on the Move

Bambang Brodjonegoro, minister of National Development Planning, might resign if he is elected president of UN’s International Fund for Agricultural Development (IFAD). Bambang, former minister of finance, secured full support from President Joko ‘Jokowi’ Widodo to get the prestigious seat. If elected, the President has room to continue the so-called ‘political consolidation’ through a ‘limited cabinet reshuffle’.

Read More

On Goldman Sachs v. Benny Tojkro: Revisiting Beckkett v. Deutsche Bank (Part I)

The dispute between Benny Tjokrosaputro and Goldman Sachs International (subsidiary of Goldman Sachs Group Inc (NYSE:GS)) in the South Jakarta District Court have been running for almost five months now. The parties failed to reach an agreement during the mediation process, and now Goldman Sachs International has officially filed a counter-lawsuit. What’s interesting here is that a similar situation involving big names also happened several years ago. We’re talking about the shares lien dispute between Singapore-based Beckkett Pte Ltd, controlled by Indonesian tycoons Sukanto Tanoto and Hashim Djojohadikusumo, and Deutsche Bank A.G. (DAX:DBK).

Read More

Revisiting The Bakries (3)

After noticing that several Bakrie-related share had woken up, some have begun to wonder whether or not the group would return to maneuver in politics. Bakrie’s influence in politics, as we all know, weakened after the Red-and-White opposition group (KMP) fell apart, and the leadership in the Golkar Party switched to Novanto, who then issued a warning letter to Bakrie on Nov. 9, 2016. Since then, we rarely saw Aburizal “Ical” Bakrie making (controversial) political statements in public.

Read More

Improving Situation for Corporations

Leading global information and measurement company Nielsen reported that corporates’ spending for advertisement on televisions rose 14% in 2016 to Rp134.8 trillion, from Rp118 trillion in 2015, reflecting a return of market trust/confidence. The economy slowed down in 2014-2015, but it was recovering in 2016. Nielsen also sees accelerating economic growth (hence boosting people’s purchasing power) and relatively low inflation (3.02% y/y in December 2016) as the right context for rising consumer spending in Indonesia, Southeast Asia’s largest economy.

Read More

Bakrie, PSSI, and the New Football League

The Indonesian Football Association (PSSI), under the leadership of Lt. Gen. Edy Rahmayadi, has appointed PT Liga Indonesia Baru as the new operator of the country’s new football league, which will be named Liga 1. The PSSI, however, has not yet revealed the composition of the board of commissioners and directors, as well as the composition of shareholders of PT Liga Indonesia Baru. Nevertheless, the Company’s name sounds similar to the name of the previous operator. which was widely known to be related to the Bakrie Group.

Read More

Brighter Side of Manufacturing Industry

Other than rally in commodities, manufacturing may start to contribute more to Indonesian economy this year. Domestic capacity of pulp, raw material for paper, for example, will grow significantly by 31% to 10.43 million tons with commercial operation of Sinarmas Group’s new pulp mill in Ogan Komering Ilir Regency, South Sumatra province this month. This will be followed with commercial operation of Sinarmas’ new tissue plant and RGE Group’s dissolving pulp plant next year.

Read More

Markets Rebound & Positive Economic Data

The composite index of the Indonesia Stock Exchange (IDX) gained 0.62% to close at 5,327 on Wednesday (Feb 1) following global markets. It rebounded as sentiments were supported by positive economic data and corporate earning reports. Foreign investors booked net buy of Rp363.9 billion in local stocks, cutting year-to-date net sell to Rp602.9 billion. The rupiah, meanwhile, weakened further to Rp13,349 against the U.S. dollar yesterday.

Read More
error: Content is protected !!