Day: December 20, 2023

On Firli Bahuri Case

Last month, the Chief of the Corruption Eradication Commission (KPK), Filri Bahuri, was named a suspect in the alleged extortion case committed against Syahrul Yasin Limpo (NasDem). Syahrul, who was the Minister of Agriculture at the time of the incident, is a suspect in a case of alleged corruption being investigated by the KPK, while the alleged extortion that ensnared Firli is being investigated by the Indonesian National Police (POLRI). Firli insisted that he is not guilty, that the case was made up as a revenge from the current Chief of the Jakarta Metropolitan Office, Karyoto. The claim was put forward to the public when Firli decided to file for a pre-trial against the POLRI’s decision. This week, the court declared that the pre-trial petition cannot be accepted.

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The East Jakarta Land Mafia Case : The End?

Nearly three years ago we were exposed to the case of alleged corruption related to a land acquisition for the DP 0% housing program, which was the flagship program of then Governor Anies Baswedan. The case was investigated by the Corruption Eradication Commission (KPK) and managed to ensnare individual and corporate suspects, including Yoory Corneles Pinontoan, the former president director of the Regional Public Corporation Pembangunan Sarana Jaya (PD Sarana Jaya). The suspects were found guilty in the last week of February 2022 then the POLRI entered the picture. Nearly a year after the verdict was given, earlier this year, the National Police’s Criminal Investigation Unit (Bareskrim POLRI) announced a new and similar case and named Yoory as a suspect. The proceedings continue far from media coverage and recently the prosecutors read their demands.

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Corporations to Watch: BREN & META

Shares of Barito Renewables Energy (BREN), a holding company and part of the Barito Pacific Group owned by Prajogo Pangestu, opened slightly higher by 1% to Rp7,400 this morning to make a market capitalization of Rp987 trillion, second largest on the Indonesia Stock Exchange (IDX).

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IPO to Watch: Multi Spunindo Jaya

PT Multi Spunindo Jaya Tbk (MSJA), engaging in personal care product business, has kicked off its initial public offering (IPO) for 882.3 million shares, representing 15% of total issued and paid-up capital, priced at range of Rp250-350 per share, to raise total proceeds of maximum Rp308.82 billion.

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Rini Soemarno

Rini Soemarno, former minister of state-owned enterprises (MSOEs, 2014-2019), reappeared in public few days ago to declare support to the Prabowo-Gibran campaign in 2024 election. She brings with her a claim of support from thousands of members of MDS Coop, a cooperative she established.

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