Month: October 2022

Kayan Hydro v. Land Office 

The Kayan Cascade Hydroelectric Power Plant (PLTA) located in North Kalimantan is said to be the largest hydropower plant in Southeast Asia because it will use an area of more than 2,600 hectares and five dams to generate 9,000 MW of electricity. The development of this hydropower plant has been discussed since 2011, with initial cooperation with investors from China. However, there is not much news about the progress of the project until in early October 2022, when the initiator of the PLTA Kayan, PT Kayan Hydro Energy (PT KHE) signed a construction agreement with Sumitomo Corporation. PT KHE at the time claimed to already have the necessary permits, but towards the end of last week, PT KHE filed two lawsuits against the Minister of Agrarian Affairs or the Head of the National Land Agency.

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More on the Corruption in Kuansing & Adimulia Agrolestari

Towards the end of 2021, the Corruption Eradication Commission (KPK) arrested several parties, including the then Regent of Kuantan Singingi (Kuansing), Andi Putra, following a sting operation in Riau. The Regent is the sixth regional leader the KPK has arrested in 2021 and yet another Golkar politician embroiled in corruption. The investigation and inquisition process were conducted far from media coverage. Andi has even been declared guilty several months ago, but the KPK continue developing the case. Last week, the KPK announced their development of investigation and named three suspects.

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PDIP on Jokowi-Megawati

The relationship between President Joko “Jokowi” Widodo and Megawati Soekarnoputri has always been a subject of speculation ahead of 2024 race. In that regard, Secretary General of the ruling party PDIP, Hasto Kristiyanto, recently made an interesting statement. Hasto stated that Megawati and President Jokowi will have an intensive meeting before PDIP announces its presidential candidate.

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New Ammunitions for PDIP

Six retired generals have joined the ruling party PDIP. One of them is Lt. Gen. (ret) Ganip Warsito, former chief of staff of the Indonesian Military (Kasum TNI) and former head of the National Disaster Mitigation Agency (BNPB).

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9M/22 Results: Telkom vs Indosat

Telkom (TLKM), market leader, is now valued 3x equity, while Indosat (ISAT), the second largest in the telecommunication sector, is valued 1.78x equity only. TLKM is traded with PE multiple nearly 20, while ISAT is traded with PE multiple 10 only. 

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