Recent Articles
DJBC and the Problematic Supercars
The Directorate General of Customs and Excise (DJBC) is once again under attack. Initially DJBC was criticized for implementing the Regulation of the Minister of Trade in a reckless way, but the issue quickly raises other problems which have long been the subject of criticism. Some have come forward to claim their possessions which have been held back even after years without clarity, some complained about the unreasonable fines, but some are trying to ride the wave. In the middle of the mayhem, a Malaysian businessman, Kenneth Koh Kiek Lun, submitted a report against the DJBC to the Attorney General’s Office (AGO) on allegations of abuse of authority. At the heart of the problem is a baffling case of alleged supercars smuggling which had been uncovered since 2022. The case, interestingly, also concerns one Rudy Salim Gunawan of Prestige Image Motorcars.
Business
Stuck at Five
Indonesia's economy remains resilient amidst increasing global uncertainty, but very difficult to move above six percent and way below the dream of seven percent annual growth of Jokowi. Data from the Central Statistics Agency (BPS) shows that economic growth in the first quarter (Q1) of 2024 was 5.11% year on year (y/y), an increase compared to growth in the previous quarter of 5.04% (y/y).
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Dollar Stabilizes as Fed Outlook Mulled
The dollar index stabilized above 105 on Tuesday as investors continued to assess the outlook for Federal Reserve monetary policy in light of recent central bank commentary. New York Fed President John Williams stated that...
Palm Oil Extends Gains
Malaysian palm oil futures jumped over 1.5% to above MYR 3,920 per tonne, increasing for the second session in a row amid a weaker ringgit and sustained gains in soyoil due to potentially crop-damaging weather in Brazil and...
US Economic Optimism Index Continues to Decline
The RealClearMarkets/TIPP Economic Optimism Index in the US fell to 41.8 in May 2024, the lowest level in five months, from 43.2 in April and much worse than forecasts of 44.1. The Six-Month Economic Outlook, which measures how...
Profiles
Dahlan Iskan and PT Energi Sterila Higiena
PT Energi Sterila Higiena (Ensterna/Sterina) claims to be the pioneer in Indonesia commercial irradiation services and perhaps this is true. This seems to be the first time a company in the field of nuclear technology has appeared to the public. Behind the company is a familiar name, Dahlan Iskan. The former Minister of State-Owned Enterprises (BUMN) is reportedly one of the company's founders. Unfortunately, this information became public after the company was involved in legal problems.