Everybody falls, except Dato Tahir

Two months have gone since MSCI shocked Indonesian stock market. Most inflated stocks have fallen. Some lost more than 70%. Mayapada Hospital (SRAJ) and Maha Properti (MPRO), two companies controlled by Dato Tahir, however, lost only 8.9% and 18.5% in the period. MD...

Amman Mineral’s missed opportunity

Amman Mineral International (AMMN), the second largest gold and copper producer in the country, missed the opportunity to report a record net profit last year. While others reported strong financial performance from higher price of gold and copper, AMMN suffered 61%...

Reality check on Chandra Asri

Shares of Chandra Asri Pacific (TPIA), involved in oil refining and petrochemicals, declined 3.3% to Rp5,075 in the morning session Thursday (Mar 26) amidst uncertainties in the Middle East. The stock has lost 50% from its recent peak despite accounting gain from...

Prabowo wants more from minerals

Mining companies should brace for some policy changes going forward because President Prabowo Subianto has ordered energy & mineral resources minister Bahlil Lahadalia to get fairer shares from the country’s mineral resources. After a limited cabinet meeting at...

The $2 billion question: where did Fortnite users go?

The layoffs at Epic Games—more than 1,000 employees cut as Fortnite continues to lose momentum—are not just another chapter in the tech industry’s long list of restructurings. They signal something deeper: a redistribution of attention, time and money in the global...

Built fast, or built right?

Sekolah Rakyat program is being sold as a bold intervention to break the cycle of poverty through education. With a target of more than 100 new schools in its second phase alone—promised to be completed by June 2026—the initiative signals urgency, ambition, and...

KPK setting a bad precedent

The KPK’s flip-flop decision in Yaqut Cholil Qoumas’ case has set a bad precedent. Now, the family of Immanuel Ebenezer also plans to apply to have his detention converted to house arrest. The request is not based solely on medical grounds, but also on a wish for him...

Indonesia plays, others profit

When Savvy Games Group acquired Moonton from ByteDance for roughly US$6 billion, it did more than transfer ownership of one of the world’s most popular mobile games. It marked a deeper shift in who controls the digital ecosystems that millions of Indonesians inhabit...

The fall of RISE

Shares of PT Jaya Sukses Makmur Sentosa Tbk (RISE), a property developer, ended lower by 2.91% to Rp2,000 on Wednesday (Mar 25). That means the stock has fallen 80% from its peak in late November 2025. That’s not enough though. At the last quoted price, RISE was...

More stainless steel capacity

Indonesia exported nearly US$28 billion worth of iron and steel (HS72) products last year, an increase of 8.4% from 2024, thanks to higher domestic production capacity. The country is set to generate more export revenues from the sector with new facilities entering...
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