Author: yosefardi.com

Everybody Wants a Piece of the Pie

PP Muhammadiyah, the second largest Islamic organization in Indonesia, is finally following the footsteps of the Nahdlatul Ulama (NU), the largest Islamic organization in the country, in accepting the odd policy issued by the outgoing President Jokowi, which allows a religion-based mass organization (ormas) to control special mining permit and or special mining concession (WIUPK). Muhammadiyah will announce its official decision tomorrow (Jul. 27) during its National Consolidation meeting held in Yogyakarta.

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Nickel-EV Journal

Shares of nickel miners were mostly under pressure Thursday (Jul 25) due to downfall of nickel prices related to persistent oversupply concern among market participants. The commodity was traded at US$15,817 per ton, down 7.26% from last month and lost nearly 26% from a year ago. In the first half of 2024, demand for primary nickel was helped by stainless steel, while EV batteries provided little incentives.

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Revisiting Cinema XXI

Shares of Cinema XXI (CNMA), the largest operator in the country, ended lower by 1.8% to Rp216 on Thursday (Jul 26). That means the stock is still way below the initial public offering (IPO) price (Rp270) less than a year ago. 

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Alwin Albar Corruption Scandals

This week we were confused by the news that Alwin Albar, one of the suspects in the PT Timah corruption scandal, had gone on trial. Alwin was only made a suspect in March 2024 so for the dockets of the case to be expedited within only three months is impossible. Later, we learned that Alwin faced the current trial as a defendant in another case of alleged corruption, while he served as director at PT Timah. This can only mean that at the same time during his tenure Alwin is suspected of being connected to two cases of corruption. How diligent.

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KPPU Latest Investigation : Chiyoda’s Alleged Conspiracy

The Business Competition Supervisory Commission (KPPU) has begun holding an Assembly Session in the Preliminary Investigation stage regarding the rarely heard allegation of conspiracy to obtain company secrets. This allegation implicates PT Chiyoda Kogyo Indonesia (PT CKI), subsidiary of Chiyoda Kogyo Co Ltd, manufacturer of tube deforming processing machinery, BECS Master. What really happened?

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KPK Leadership Selection: The Candidates (2)

Pretty much as predicted, the selection of the new leaders of the Corruption Eradication Commission (KPK) has given the opportunity to both those in power and those in the opposition to put their guys at the helm of the Agency for the next period of 2024-2029. In the previous article, we’ve mentioned two candidates: Sudirman Said, who is known close to Jusuf Kalla and Anies Baswedan, and Ike Edwin, a retired two-star police general and now a politician from Susilo Bambang Yudhoyono’s (SBY) Democratic Party. In this article, let’s talk about some other candidates worth highlighting for their political connections.

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Antam: The Biggest Irony of Resource Nationalism

Shares of Aneka Tambang (ANTM), a state company involved in gold, bauxite, and nickel mining, ended slightly lower at Rp1,310 on Wednesday (Jul 25) to make a market capitalisation of Rp31.5 trillion, on par with equity (Rp31.4 trillion). The company, which has been rocked by various scandals and corruption cases, was worth way below Harita Nickel (Rp57.1 trillion) despite the fact that it has long sit over huge nickel resources. 

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Hamzah Haz Passes Away

2024 has been an unfortunate year for the Islamic party PPP. The Party failed to pass the parliamentary threshold in the 2024 legislative election and consequently they will be excluded from the House of Representatives (DPR) for 2024-2029 period. On Wednesday (Jul. 24), former Chairman of PPP Hamzah Haz, who once served as Vice President (VP) during Megawati Soekarnoputri’s presidency from 2001 to 2004, passed away at 84 years old.

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