Author: yosefardi.com

Jokowi and Kalla: Advantages and Risks

There are definitely those who are enthusiastic with the prospect of pairing Joko “Jokowi” Widodo with former vice president Jusuf Kalla. We can see why that’s the case. Jusuf Kalla’s output-oriented leadership, and his agility are certainly appealing and may therefore make him a match for Jokowi. But there ought to be other considerations beyond matching work ethos and complementary experience.

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Jokowi and Kalla: Possibility

Various observers, pollsters, and national media outlets have revisited the possibility of pairing Joko “Jokowi” Widodo with Jusuf Kalla. They predicted and claimed that the pair is the best solution for the country’s problems. We’d like to challenge this claim. But before we do so, let’s look at who’s been saying what.

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Mitsui & Changing Dynamics of Indonesian Portfolios

Mitsui, one of the world’s largest trading houses, has on Thursday (Mar 13) signed the transfer of its ownership in stand-alone ammonia company PT Kaltim Pacific Amoniak (KPA) to state-owned ammonia-urea producer PT Pupuk Kaltim, days after it completed the transfer of shares in PT Amoco Mitsui PTA Indonesia to BP.

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Market Snapshots & Corporate Actions

Composite index of Indonesia Stock Exchange (IDX) opened lower by 0.91% this morning, eating out all of yesterday’s gains, tracking peers in the region and global fears. Nikkei 225 leads losers in the region with 2.6% fall, while All Ordinaries down 1.14%. In this report: PGN, Sido Muncul, and Mitra Pinasthika.

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Labor Movement Post Mineral Export Ban

A number of companies have laid off their workers following the implementation of the mineral export ban policy. The Government has been reluctant to admit this. The Director General for Mineral and Coal, R. Sukhyar, played the semantics card with Yosef Ardi News. R. Sukhyar admitted of receiving reports about layoffs in West Kalimantan and Sulawesi, but the Director General insisted that they’re not classified as mass layoffs. What’s the state of this affair today?

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China Slowdown & Our Economy

Dow Jones Industrial Average (DJIA) collapsed 1.41% yesterday allegedly on new signs of a slowdown in China and overdue correction of DJIA after years of rally. Asian stocks followed this morning with Nikkei 225 falling 2.55%, while All Ordinaries losing 1.25%. What a further slowdown in China means to Indonesian economy and rupiah?

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Bakrie Strikes Back?

Shares of Bakrie Sumatra Plantation (UNSP), a palm oil and natural rubber producer controlled by Bakrie Group, have been traded at Rp50 since August 2013. On Thursday, March 13, 2014, the stock surged 34% to Rp67 with 400 million shares exchanged hands. The last time we saw more than 100 million shares trading was in June 2013.

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When TAXI is Faster than GARUDA

Express Transindo (TAXI), operator of Express taxi, booked net profit of Rp132 billion last year, surged by 67% from 2012. Its profit was bigger than flag carrier Garuda Indonesia (GIAA). It was also faster because it posted 31.9% growth, while Garuda only moved up 7%. It is a pitty that the largest player Blue Bird failed to seize the opportunity.

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The Importance of Legal & Property System

Whenever I think about the challenge of reorganizing Jakarta, I recall Hernando de Soto’s “Mystery of Capital: Why Capitalism Triumphs in the West and Fails Everywhere Else”. De Soto’s book examines the conversion of capital and argues that at the heart of the process is the right legal and property rights system for a given society. De Soto argues that most people opt for extralegal arrangements because the legal alternative is too costly and do not reflect the local concept of property ownership.

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Continues Gold-Copper Bet from Saratoga, Provident & Salim Group

Gold has long left its bottom. It is closer to US$1400 per ounce again. Two Indonesian equity firms Saratoga and Provident, interestingly, continue to bet on the precious material. Other than offering A$90 million settlement for the dispute over Tujuh Bukit gold project in East Java, Provident and Saratoga pledged more investments in other gold projects.

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