Author: yosefardi.com

Cabinet Reshuffle Rumors (2)

The Expert Staffer of the Presidential Staff Office (KSP) Ali Mochtar Ngabalin, who is also a Golkar Party politician, told Kompas that President Joko “Jokowi” Widodo will announce changes to the cabinet this week. If that’s true, it would be the second round of cabinet reshuffle in Jokowi’s second term. 

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On North Sumatera DPRD Graft Case : The End?

In April 2018, the Corruption Eradication Commission (KPK) named 38 former members of the North Sumatera Regional Legislative Council (DPRD) as suspects of graft. The development came as a result of investigation into the case of corruption that brought down the disgraced Governor of North Sumatera Gatot Pujo Nugroho. The KPK had previously named 12 politicians suspects in the same case over the span of 2015 and 2016. The trials of the suspects ended in August 2019, but the KPK continued its investigation. Entering 2020, the KPK announced that it had named 14 new suspects in the case. All of whom are former members of the DPRD. The trials of all remaining suspects started in the same year. The trial ended this week as the court read the decisions for all the remaining suspects.  

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Lawsuits against Bukalapak

One of the largest e-commerce companies in Indonesia, PT Bukalapak.com, was sued at the South Jakarta District Court. The trial started this week. The cause of the dispute between the parties is not yet clear. Apart from this lawsuit, Bukalapak has another lawsuit on trial in the same court.

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Corporate Actions & Results

Hospital operator Sarana Meditama Metropolitan (SAME), operator of Omni Hospitals, suffered a loss of Rp449 billion in 2020, widening from a loss of Rp114 billion in 2019 as operating profit loss widened to Rp263 billion from 28 billion. Revenue also declined 4.1% year on year (y/y) to Rp508 billion. But in the fourth quarter (Q4) of 2020, SAME turned to profit (Rp8 billion), compared to Rp410 billion loss in Q3 of 2020.

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Global Growth Gaining Momentum

Global demand picks up amid progress on the COVID-19 vaccination around the world. Still, re-lockdown in Europe and the United States due to pandemic re-escalation may impede global production recovery and the global supply shortage. China may benefit from said situations in Europe and the United States (US), as China’s exports grew at a brisk pace in March, jumping 30.6% while imports rose 38.1% in US Dollar terms compared to a year ago.

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Market Snapshots

Global stock markets were mixed on Tuesday (April 13) amid the development of the coronavirus vaccination. United States (US) stocks were mixed on Tuesday, with the Dow Jones falling slightly and the S&P 500 little changed, while the Nasdaq edged up as the Food and Drug Administration called for a pause in the use of Johnson & Johnson coronavirus vaccine. 

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COVID-19 Situation Report: April 13, 2021

According to the Ministry of Health, as of six p.m. on April 13, 2021, precisely 10,377,734 people had received the first shot of the coronavirus vaccine, of which 5,433,715 had received the full dose. Indonesia began its vaccination program on Jan. 13, targeting healthcare workers. By Feb. 17, it launched the second stage targeting public service workers and elderlies.

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Gold Struggles for Traction

Gold struggled to gain traction on Tuesday and got stuck around the $1,730/oz level as a slight uptick in US Treasury yields spooked investors away from the non-yielding metal. In the absence of significant fundamental drivers,...

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Asian Shares Rise

Asian equities lifted in early Tuesday trade as US stock futures held near record highs with investors optimistic ahead of US corporate earnings season and data releases later this week, while bond yields rose only slightly as...

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