Author: yosefardi.com

Tjahjo Kumolo passes away

Tjahjo Kumolo, minister of state apparatus and bureaucratic reform (Menpan RB), who is senior politician from PDIP, has passed away at Abdi Walujo hospital, Jakarta Friday (July 1st). Born December 1st, 1957 in Surakarta, Central Java, Tjahjo was interior minister in the first term of Joko ‘Jokowi’ Widodo (2014-2019). 

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Notes on PLN’s First Quarter Financials

State utility firm PT Perusahaan Listrik Negara (PLN) booked net profit of Rp5.36 trillion in the first quarter of 2022, increased from Rp4.9 trillion in the corresponding period last year. PLN’s financials reflected growing economic activities of the country in the first quarter.

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Airlangga-Zulkifli: Pros and Cons

There has been a speculation on the possibility of a coalition between Golkar Party, the National Mandate Party (PAN), and the United Development Party (PPP) which might pair up Airlangga Hartarto with Zulkifli Hasan for the 2024 presidential race. Let’s talk a bit about this potential pairing.

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The New Deputy Speaker of MPR

Yandri Susanto, the deputy chairman of the National Mandate Party (PAN), has been sworn in as the new deputy speaker of the People’s Consultative Assembly (MPR), the highest legislative body in Indonesia. Yandi is replacing Zulkifli Hasan, who was recently appointed by President Joko “Jokowi” Widodo as the new Minister of Trade. Who is Yandri?

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E-Cigarette Players (1): Smoore

The Indonesia government has already increased the excise tariff for e-cigarette with a minimum increase of 17.5% starting January 1, 2022. The official increase in excise rates was marked by the issuance of Minister of Finance Regulation (PMK) Number 193/PMK.010 of 2021 concerning Excise Tariffs for Tobacco Products in the Form of E – Cigarettes and Other Tobacco Processing Products. The rules were set on December 17, 2021 by the Minister of Finance Sri Mulyani Indrawati and promulgated on December 20, 2021.

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The UnHolywings

Less than two weeks ago a controversial promotional poster appeared on social media. Holywings, a business group that carries the concept of a bar, pub and restaurant, provides free liquor for its visitors named “Muhammad” and “Maria”. In a country that respects religion above all things, this promotion is considered insulting to two religions at once. Who would have guessed, this poster became an entry point for many parties to bring down Holywings, who has often been associated with the notorious advocate, Hotman Paris Hutapea.

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New Provinces and the Future of Papua

At mid-day of Thursday, June 30, 2021, the House of Representatives approved three Bills related to the New Autonomous Region (DOB) in Papua. With this decision, there are now five provinces on the island of Papua and 37 provinces throughout Indonesia. However, this decision was accompanied by various rejections and new problems.

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Q&A with Freeport CEO (1)

Freeport Indonesia’s concession will only expire in 2041, but the company has asked the government to start talks about extension of the world’s largest copper and gold mine. We recently interviewed Tony Wenas, president director of the company. 

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Indonesian startups: Fresh Factory

The overheated global venture capital climate might have eventually cooled down in recent months, but national media reported that last Monday Fresh Factory, an integrated cold chain fulfillment and enabler startup, secured US$4.5 million of seed funding led by East Ventures with participation of PT Saratoga Investama Sedaya (SRTG), Trihill Capital, Indogen Capital, Prasetia Dwidharma, Number Capital, Y Combinator, and some angel investors. 

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The case hanging in balance, Indosurya?

So, Henry Surya, son of Surya Effendy (founder of Indosurya Group), has recently been released from the police custody as time lapsed before the State prosecutor concluding dossiers related to Kospin Indosurya scandal (US$1 billion plus losses). The chief detective of the national police, however, vows to detain Henry again because his alleged crime hurts tens of thousands members and investors of Indosurya cooperative.

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