Author: yosefardi.com

The Medan Election: Political Breakups & Polling War

The city election of Medan, the capital city of North Sumatera province, is another regional election that is important to watch because the son-in-law of President Joko “Jokowi” Widodo Bobby Afif Nasution will compete against the incumbent candidate in the race. The race is heating up lately with political breakups among the supporters of both contenders.

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COVID-19 Vaccine & Geopolitical Issue (2)

The Ministry of Foreign Affairs summoned China’s Deputy Ambassador for Indonesia for a meeting on Sep. 13, following the latest stand-off between Indonesian authorities and China’s Coast Guard in the Natuna Sea. In the said meeting, the Foreign Affairs Ministry firmly voiced Indonesia’ rejection of China’s nine-dash line claim in the Natuna Sea. Will it affect China’s commitment to supply COVID-19 vaccine to Indonesia?

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Luhut & His Critics (2)

Some parties continue to criticize the appointment of Coordinating Minister for Maritime & Investment Affairs General (ret) Luhut Binsar Pandjaitan for supervising COVID-19 mitigation work in nine provinces. They urged President Joko “Jokowi” Widodo to return the supervisory authority to the Minister of Health Lt. Gen. (ret) Dr. dr. Terawan Agus Putranto.

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Additional Budget for POLRI

The uncertainty due to the prolonged pandemic has led many Ministries and State institutions to propose an increase of their 2021 budget. Among the said institutions are the National Police (POLRI), the Attorney General’s Office (AGO), and the Corruption Eradication Commission (KPK). POLRI will receive the largest budget with a total value of more than Rp111 trillion.

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Supreme Court & Reduction of Punishment for Graft Convicts

The Supreme Court decided to grant the Reconsideration (PK) petition submitted by former member of the House Commission V of the House of Representatives, one Musa Zainuddin (PKB). Musa is one of the dozens of convicts in the Trans-Seram corruption case. Musa was previously sentenced to nine years in prison, but Musa only needs to serve six years with the recent Supreme Court decision. This decision adds to the length of the list of Supreme Court decisions alleviating graft convicts’ punishment.

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Corporate Actions

The Vice Minister of State-Owned Enterprises (SOEs), Kartika Wirjoatmodjo, recently said that PT Dayamitra Telekomunikasi (Mitratel), subsidiary of state telco operator Telekomunikasi Indonesia (TLKM) Telkom, was considering listing its shares at Indonesia Stock Exchange (IDX). There is no further detail on the targetted initial public offering (IPO) time of the telecommunication tower leasing provider.

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Market & Rates

Global stock markets closed in red on Thursday (Sep. 17) as investors digested key central bank meetings and a weak United States (US) jobless claims report. US stocks tumbled yesterday as a steep sell-off in Big Tech damped sentiment. On the macro side, data was mixed, as weekly jobless claims totaled 860 thousand and beat the 875 thousand expected by economists, but housing starts missed estimates and dropped in August 0.9% on a monthly basis. 

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BoE to Hint at More Stimulus

The Bank of England will likely leave the bank rate at a record low of 0.1% on Thursday and the size of its bond-buying program at £745 billion. Although no action is seen in the September meeting, the central bank is expected...

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