Author: yosefardi.com

A Lonely Prabowo

Took less than 48 hours only to part ways. They were united, seen together in every single event. Those days are gone. President candidate Prabowo Subianto was on his own celebrating victory in April 17 election in front of his residence at Kertanegara, South Jakarta after attending Friday prayers at Al-Azhar Mosque nearby. Where was running mate Sandiaga Uno?

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Sandiaga’s Suicidal Move

After 24 hours of speculations, Sandiaga Salahudin Uno finally appeared in public alongside Prabowo Subianto Thursday night. Prabowo, for the third time in 24 hours after the closing of polling stations, declared victory in the presidential election even when international leaders congratulated incumbent president Joko ‘Jokowi’ Widodo. 

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Asian Shares End Lower

The Shanghai Composite index closed 0.4% lower at 3,250 on Friday despite signs of progress in US-China trade negotiations and stronger-than-expected economic data released earlier in the week, as investors booked recent...

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Robert Tantular’s Judicial Review

The Bank Century bailout case is arguably one of the biggest corruption cases. Robert Tantular is the name we cannot forget for his affiliation in this case. This case has only brought down the former Deputy of Bank Indonesia (BI) for Monetary and Foreign Exchange Management Division one Budi Mulya, while the owner of Bank Century Robert Tantular was snared with four different regular criminal charges. Robert surprised everyone at the end of 2018 when he was released on parole though he’s supposed to spend over 20 years in prison. After he was released, he submitted a Judicial Review petition at the Constitutional Court questioning his trials and its procedures which he deemed unfair.

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The Latest on the Land Case Involving the Shah Family

Two months ago we reported that the North Sumatera Regional Police (Polda Sumut) had named one Musa Idi Shah (or Idishah – familiarly known as Dody), the brother of the current Vice Governor of North Sumatera one Musa Rajek Shah (or Rajekshah – familiarly known as Ijeck), a suspect of violation in the process of conversion of protected forests land into palm plantations. Last week, the police escalated the status of the case’s investigation on Ijeck into inquisition, although Ijeck is still a witness today. The police scheduled an examination several days after the inquisition process was announced but Ijeck did not answer the summon. The police said they would schedule another examination soon.

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Corporate Actions

Plantation firm Astra Agro Lestari (AALI) allocates capital expenditure (capex) of Rp1.7 trillion for this year, equal to last year’s capex, used for its planting, expanding plant’s capacity, and infrastructure (roads and bridges). The Company’s internal cash will fund the capex.

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Corporate Results: Garuda & Intermedia

Flag carrier Garuda Indonesia (GIAA) booked a net profit of US$19.74 million in the first quarter (Q1) of 2019, against loss of US$64.27 million in the corresponding period of 2018, as revenues grew 11.8% to US$1.09 billion from previous US$983 million. Garuda also cut its total expenses by 0.8% to US$1.05 billion, then it booked positive operating profit (US$49.47 million), compared to loss US$66.08 million in Q1 last year.

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