Thin trading, net sell

Jun 24, 2026 | Market

Composite index of IDX (IHSG/JCI) dropped 3.56% Wednesday (Jun 24) following MSCI’s persistent threat of downgrading status of Indonesian stock market from emerging to frontier and further correction of rupiah. External pressures actually eased off with Brent crude...

Oil & Gas Journal: Pertamina’s BOD Bonus

Jun 24, 2026 | Market

Shareholder/Danantara opted to maintain the current board of state oil and gas company Pertamina. Tuesday’s shareholder meeting only replaced Heru Pambudi, former secretary general of ministry of finance, with Robert Leonard Marbun (new) as commissioner. That’s an...

Those continue to expand: Nickel Industries

Jun 24, 2026 | Commodities, Market

Shares of Nickel Industries Ltd, which operates mines, RKEF, and HPAL nickel smelters in Indonesia, advanced 0.75% to A$0.94 on the Australia Stock Exchange (ASX) this morning as investors responded positively the company’s framework agreement for a long-term nickel...

Miiltary training for KDMP and KNMP managers

Jun 24, 2026 | Market, Politics

The Red-White Village Cooperative (KDMP) and the Red-White Fishermen’s Village (KNMP) are being promoted as instruments to strengthen economic independence in rural communities. Curiously, their managers are also required to undergo basic military training in addition...

A tragic cost of policy militarization

Jun 24, 2026 | Market, Politics

The deaths of two candidates for the Merah Putih Village Cooperative (Kopdes) management program during military-style training should force Indonesia to ask an uncomfortable question: why are future cooperative managers being trained like soldiers in the first place?...

The politics of a phone call

Jun 24, 2026 | Market, Politics

In politics, symbolism often matters as much as substance. That is why Deputy Speaker of the House Sufmi Dasco Ahmad’s decision to publicly call Pertamina’s leadership during a national labor gathering deserves closer attention. On the surface, the episode appeared...

The politics of 8 percent rule

Jun 24, 2026 | Market

The most interesting aspect of 8 percent cap on ride-hailing platform commissions is not the number (Prabowo’s magic number) itself. It is the political process behind it. Beginning July 1, Grab and GoTo will implement the new commission structure that allows online...

Legalizing money laundering

Jun 24, 2026 | Market

Indonesia has basically legalized money laundering with the amendment of P2SK (Financial Sector Development and Strengthening) Law. Corruption money from free meal (MBG), village cooperatives (KDMP), or illicit money from illegal mining, logging, fishing, money from...

Rupiah & Prabowo’s statements

Jun 24, 2026 | Market

Rupiah moved closer to psychological level Rp18,000 per USD Tuesday (Jun 23) as DXY (US Dollar Index) gained to 101.4. President Prabowo Subianto’s statements regarding the currency on Tuesday didn’t help at all in the context of outlook. Prabowo blamed the past,...

Five more months of uncertainty

Jun 24, 2026 | Market

MSCI gives Indonesian authorities till November to address concerns from global institutional investors on transparency of share ownership structure and the coordinated trading practices in the stock market. For now, Indonesia is kept in the emerging market category,...