Dian Swastatika Sentosa (DSSA), owned by Sinar Mas Group, booked net profit of US$749.57 million in the first nine months (9M) to September of 2023, declined 5.8% year on year (y/y) inline with lower revenues and higher selling expenses. DSSA’s revenues was down 1.5% to US$4.09 billion while selling expenses rose 13.7% to US$397.7 million.
Read MoreSome advocates, who associate themselves with the so-called Tim Pembela Demokrasi Indonesia (TPDI) or the Indonesian Democracy Defense Team and the so-called Perekat Nusantara, sent a subpoena to President Joko “Jokowi” Widodo. These advocates, especially those from TPDI, are not nobody. Historically speaking, TPDI is strongly affiliated to Megawati Soekarnoputri, the matriarch of the ruling party PDIP.
Read MoreAKR Corporindo (AKRA), the largest distributor of fuel in the private sector, has in December 4, 2023 entered into a joint development agreement with BP Gas & Power Investments Limited (bp) to jointly develop a LNG import project involving a regasification terminal in Java Integrated Industrial and Port Estate at Gresik, East Java, Indonesia (JIIPE).
Read MoreIDX-listed tile manufacturer PT Keramika Indonesia Assosiasi Tbk (KIAS) has started filing lawsuits against the Satgas BLBI and other parties since the middle of this year, however these lawsuits do not seem to adequately represent the problems the company is facing, yet. This week, a third lawsuit was filed, and the company’s subsidiary also filed a separate but related lawsuit.
Read MoreWe know, in Indonesia, corruption can occur in any situation, including in a pandemic. The Ministry of Social Affairs, which is supposed to guarantee the welfare of the Indonesian people, is not immune from this extraordinary criminal practice. After previously the Corruption Eradication Commission (KPK) succeeded in ensnaring the Minister of Social Affairs, Juliari Batubara, now the KPK has uncovered another corruption scheme which is still related to aid for the people affected by COVID-19.
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