Irrationality continues

Dec 19, 2025 | Market

Shares of Bumi Resources (BUMI), the largest coal producer by volume, advanced 1.2% to Rp344 this morning to make a market capitalization of Rp127.7 trillion. While it is valued less than three times equity, the stock is now traded with PE multiple 190, among the most...

Low-Wage Reality

Dec 19, 2025 | Market

I was inside the hall during the Indonesia Economic Prospects (IEP) forum when the latest labor data was unveiled. The presentation was clinical, the graphs were neat — but the truth they exposed was deeply uncomfortable: Indonesia is increasingly becoming a low-wage...

The Dumai-Sei Mangke gas pipeline project

Dec 19, 2025 | Market

The Ministry of Energy and Mineral Resources has signed a contract for engineering, procurement, and construction (EPC) work package for the construction of the Dumai – Sei Mangke (Dusem) section for gas transmission pipeline, a major national strategic project. The...

What Genting will do in Sentul?

Dec 19, 2025 | Market

Genting Plantations Bhd, one of the largest plantation companies in the region, mainly because of Indonesian operation in recent years, has completed the acquisition of two adjacent land parcels in Sentul City, Bogor, West Java province. The company, which controls...

Who’s behind Prime Group International?

Dec 19, 2025 | Commodities

Prime Energy Natuna Pte Ltd, member of Prime Group International, has acquired some oil and gas assets in Natuna, Riau Islands from UK-based Harbour Energy Plc for US$215 million. Who’s behind? Prime Energy Natuna Pte Ltd acquires Harbour Energy’s 28.67% participating...

Update on Hajj Villages

Dec 18, 2025 | Market

Indonesia has recently signed a $500 million conditional agreement for the acquisition of a hotel and a 5-hectare land in Makkah, Saudi Arabia, as part of the Hajj Village plans. On top of that, the sovereign fund Danantara is currently in the top two bidders to...

A Wage Policy Written in Pencil

Dec 18, 2025 | Market

President Prabowo Subianto’s decision to finally sign the government regulation on wages for 2026 was supposed to end months of uncertainty. Instead, it has exposed a deeper problem in Indonesia’s economic governance: policies are no longer designed to provide...

Nickel & Wetar Project weigh on Merdeka Copper

Dec 18, 2025 | Commodities

Merdeka Copper Gold (MDKA), co-owned by Provident Capital Group, Saratoga, and Garibaldi ‘Boy’ Thohir, booked net loss of US$34.8 million in Jan-Sep 2025. Gold price hike helped the company in reducing the net loss, but Wetar Copper project and nickel business...

Solar industry update

Dec 18, 2025 | Industries

Trade wars and energy transition programs give Indonesia an opportunity to host solar panel manufacturers relocated from China. Policy stability, however, is needed because of competition with neighbouring countries like Vietnam and Malaysia. Photovoltaic module...

West Java’s Housing Freeze Policy

Dec 17, 2025 | Market

West Java Governor Dedi Mulyadi’s decision to suspend housing construction permits across the province has quickly evolved from an environmental policy into a national governance problem. What was framed as disaster mitigation is now testing the limits of...