Author: yosefardi.com

Free lunch: The devil is in the details

The government and president elect Prabowo Subianto have agreed to set aside Rp71 trillion in the State Budget 2025 to finance the free lunch program. The additional expenses, according to finance minister Sri Mulyani Indrawati, will not break the budget deficit cap (3% GDP). 

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Amending the Constitution: More Maneuvers

After the maneuver from the Speaker of the People’s Consultative Assembly (MPR), Bambang Soesatyo  a.k.a Bamsoet, now the Speaker of the Regional Representatives Council (DPD) La Nyalla Mattalitti is pushing for the amendment to the 1945 Constitution. What are these politicians looking for?

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Jakarta Election: The Bargain Game

There is no governor candidate who has secured a ticket to enter this year’s gubernatorial election in Jakarta, not even Anies Baswedan, who will run as incumbent. Political parties are still waiting before determining the coalition for the Jakarta election, and they have to form a coalition knowing that there is no political party that can endorse a pair of governor & vice governor candidates alone. This is a bargain game since the coalition for Jakarta election could be related to the establishment of the next administration of Prabowo-Gibran.

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Seed of conflicts (1): StarLink

The government have been under pressure from existing business players and lawmakers (DPR), including those within the ruling coalition, related to permits and operations of Elon Musk’s Starlink in Indonesia. While the opposition mainly raised concern on Starlink’s impact to state company Telkom, owners and operators of BTS (mostly politically connected) have joined the ride in demanding scrutiny. 

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Significant Correction of BRPT’s Financials

Shares of diversified group Barito Pacific (BRPT), controlled by the family of Prajogo Pangestu, gained 3.83% to Rp950 on Friday last week (June 21), to make a market capitalization of Rp89.06 trillion even when the company reported a significant corrections of its financial performance in the first quarter (Q1) of 2024.

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Revisiting Blibli

Shares of online shopping mall Blibli.com (PT Global Digital Niaga Tbk/BELI)), owned by Djarum Group, declined 0.43% to Rp460 on Friday last week (June 21), to make market capitalization of Rp56.68 trillion. The stock fell 4.17% so far this year, as some continue to ask about the Company’s earning prospect.

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Erick’s future 

President elect Prabowo Subianto met leaders of political parties within his ruling coalition on Thursday (Jun 20) in Jakarta. They were Airlangga Hartarto (chairman of Golkar Party), Agus Harimurti Yudhoyono (Democratic Party), Zulkifli Hasan (PAN), and Anis Matta (Gelora). Leaders of other coalition members, including Kaesang Pangarep (PSI, son of outgoing president Jokowi), were not there.

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