Jokowi’s meeting with SBY

President Joko “Jokowi” Widodo and his predecessor Susilo Bambang Yudhoyono (SBY) finally met at the State Palace Jakarta yesterday (Mar. 9). The President’s Spokesperson Johan Budi told the press that the meeting was held per SBY’s request. The request, Johan...

The E-KTP Graft Case: The Indictment (Part III)

After the Commission II of the House of Representatives (DPR) agreed to provide the Ministry of Home Affairs with the budget for their electronic identity card (E-KTP) card project, bribes were supposedly distributed. In February 2011, the two defendants Irman and...

The E-KTP Graft Case: The Indictment (Part II)

In the first trial of the two defendants in the E-KTP graft case—Sugiharto and Irman—the prosecutors laid out the chronology of the case and other details, such as information on the compensation scheme promised. The discussion between Irman, Sugiharto, Diah...

Market Snapshots & Corporate Actions

Foreign investors continued buying local stocks on Thursday (Mar 9) as they booked net buy of Rp156.6 billion, cutting year-to-date net sell to Rp1.14 trillion. The composite index of the Indonesia Stock Exchange (IDX) gained 0.16% to close at 5,402 yesterday. Foreign...

The E-KTP Graft Case: The Indictment (Part I)

On March 9, 2017, the Corruption Court of the Central Jakarta District Court held the first hearing on the trial of the two defendants in the electronic identity card (E-KTP) procurement graft case, i.e., Sugiharto and Irman. The prosecutors of the Corruption...

Banking Results: Mega & J Trust

Bank Mega (MEGA), controlled by businessman Chairul Tandjung (who is known for having a close relationship with the Sixth President Susilo Bambang Yudhoyono), booked profit after tax of Rp1.16 trillion in 2016, a 10% growth from Rp1.05 trillion in 2015 supported by...

Hajj & Umrah Players (2): Al Amin Group

Like Maktour Group we discussed in the previous article, PT Al Amin Universal (Al Amin Group) is known as Hajj and minor hajj pilgrimage (Umrah) tour and travel company targetting midle-up market. Like Maktour, owner of Al Amin Group is a politician in the country....

Those Continue to Invest in Indonesia: Coca-Cola

PT Coca-Cola Amatil Indonesia, subsidiary of ASX-listed Coca Cola Amatil, has just inaugurated its new distribution center in Pandaan, Pasuruan, East Java, which was built with US$60 million. The distribution center will likely be benefited from new toll roads being...

The E-KTP Graft Case: State Budget Credibility?

The first trial of the corruption case related to the Rp5.9 trillion procurement of electronic IDs (e-KTP) has revealed possible involvement of the country’s politicians and high-ranking government officers. The Corruption Eradication Commission (KPK), in their...
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