MNC Kapital Indonesia (BCAP), owned by Hary Tanoesoedibjo, announced on Tuesday (January 23) that it divests 40% of its shares in PT MNC Guna Usaha Indonesia (MNC Leasing) to the giant from China, Shandong Heavy Industry Group (SHIG).
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Shares of coal miner Bayan Resources (BYAN), owned by Low Tuch Kwong, opened lower by 1.5% to Rp19,500 this morning (January 24) to make market capitalization of Rp650 trillion. BYAN, one of the largest coal miners in Indonesia, is now valued 14.8 times equity, making it the most expensive stock in the coal sector.
Read MoreTowards the end of 2023, a lawsuit on breach of contract was filed to the Central Jakarta Court. One of the plaintiffs is PT Lamicitra Nusantara while one of the defendants is PT Dana Tabungan dan Asuransi Pegawai Negeri (Persero) or better known as PT Taspen (Persero). Recently the court decided that the dispute ended with peace. The court did not reveal the information on the cause of dispute between the parties, but the names of the parties reminded us of the Taspen scandal that occurred three decades ago.
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The State Asset Management Institute (LMAN), which is responsible for carrying out land acquisition for various National Strategic Projects (PSN), recently announced that the land acquisition process for the development of the new capital city Nusantara (IKN) has absorbed RP1.43 trillion of budget throughout 2023. This amount is compensation money paid to landowners, both residents and business actors. The total funding allocation provided for land acquisition as a whole is Rp3.42 trillion, meaning that the remaining budget is only less than Rp2 trillion and LMAN and the Ministry of Finance have mentioned the possibility that funding needs will increase as construction is still far from complete.
Read MoreThere has been a lot of questions and criticisms on President Joko “Jokowi” Widodo regarding his neutrality during the 2024 presidential race. The same thing goes to the ministers, state apparatus, military and the police. Most recently, Ganjar Pranowo, a presidential candidate from a coalition led by the ruling party PDIP, made a suggestion to the ministers who are now competing in 2024 race, including his own running mate Mahfud MD and his rival Prabowo Subianto, to resign from the cabinet to avoid conflict of interest. Jokowi himself should have taken a campaign leave because his son is in the race.
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