Bailing out Sritex & Potential moral hazard
President Prabowo Subianto has reportedly tasked four ministries to rescue Sritex (SRIL), which has recently been declared bankrupt. They are ministry of industry, finance, state-owned enterprises, and manpower. As a follow up of the instruction, minister of industry Agus Gumiwang Kartasasmita, a politician from Golkar party, has met Iwan Setiawan Lukminto, chairman and owner of Sritex.
Key Takeaways from public housing discussion (1)
So, some property businessmen, including Alexander Tedja from Pakuwon Jati (PWON) and Budiarsa Sastrawinata from Ciputra Development (CTRA), have been gathered at the ministry of public housing on Monday (Oct 28) to discuss the ambitious housing project from president Prabowo Subianto.
Prabowo’s First Week: New policies
Some new policies have been informally published. High-ranking officers, including cabinet members, are not allowed to use imported cars for their official vehicle. Mathematics, meanwhile, will be taught early on at the kindergarten (pre-school) level, and that import of waste will be stopped soon.
The overpriced Capital Financial
Shares of Capital Financial Indonesia (CASA) opened flat at Rp540 this morning to make a market capitalization of Rp29.42 trillion, while subsidiary Bank Capital Indonesia (BACA) gained 2.27% to Rp135 (market cap of Rp2.67 trillion). While BACA is valued around half...
Bakrie’s Overvalued VKTR So Far
Shares of PT VKTR Teknologi Mobilitas Tbk, a company controlled by the Bakrie Family, ended substantially lower by 4.9% to Rp156 on Thursday (Oct 25) as investors responded negatively the company’s performance in the first nine months of 2024, where it posted net...
Excessive optimism from Prabowo’s brother
Hashim Djojohadikusumo, brother of president Prabowo Subianto, is not having an official position in the cabinet, but continues to become ‘main source’ of information for business people. On Tuesday, Hashim shared what he considered ‘good news’ with business people attending a gathering organized by Indonesian Chamber of Commerce and Industry (KADIN Indonesia).
More questions on Prabowo’s Food Estate Projects
Talk is cheap. One minister initially said the government will develop one million hectares of food estate in Merauke, South Papua province. The other minister later said ‘there will be three million hectares, consisting two million for rice fields and one million for sugarcane.’ “I actually asked his team, is it just a project or a serious program…The previous food estate programs failed because people involved there only see them as ‘projects’, don’t care about the outcome,” said one businessman.
Prabowo’s Palm-Biodiesel-Gasoline Ambition
“We can produce biodiesel and replace petroleum diesel with B100. We can also convert palm oil into gasoline. The question, is it feasible? To me, it is a zero-sum-game in the context of trade balance,” CEO of one biodiesel producer commented on President Prabowo Subianto’s energy self-sufficiency rhetorics.
Prabowo’s Ambitious Projects: Food Estate & Transmigration
President Prabowo Subianto has an ambitious project to revitalise the transmigration program of Soeharto regime in order to support his food estate program in some areas. Prabowo has established a transmigration ministry, which will soon demand huge boost in budget to...
Market Response: Thanks to Prajogo & Aguan
Major stock market indexes in the region ended substantially lower Tuesday (October 22) with All Ordinaries down 1.6%, Nikkei 225 lost 1.4%, while Kospi fell 1.3%. Composite index of Indonesia Stock Exchange (IDX), however, ended slightly higher by 0.21%. It has...