Boy Thohir in his capacity as chairman of Indonesia-China Committee of Chamber of Commerce and Industry (KADIN Indonesia) organized an event at PIK-2, a township developed by Aguan (Agung Sedayu Group) and Anthony Salim (Salim Group), last weekend to shore up support for Prabowo-Gibran.
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The wave of resignation continues since Mahfud MD, who is running in 2024 presidential election as the running mate of Ganjar Pranowo, decided to leave the administration of President Joko “Jokowi” Widodo. The most recent one is the resignation of Basuki Tjahaja Purnama a.k.a Ahok, who was known as Jokowi’s political ally, from the state-owned oil and gas company PT Pertamina (Persero). Who else will follow Mahfud and Ahok? Will their resignation affect the outcome of the election?
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The final presidential debate last night was full of rhetorics from three candidates. None of them, unfortunately, came up with bold initiatives to address two main issues debated: education and healthcare. These are key sectors to prepare Indonesians avoiding the middle income trap.
Read MoreIn just about one year, since the end of 2022, PT Rekayasa Industri (Rekind)—a subsidiary of PT Pupuk Indonesia Holding Company (Persero) and State-owned EPCC company, has faced continuous legal problems. Apart from one high-profile case, there are at least 10 lawsuits filed against the company at the Central Jakarta District Court, nine of which are PKPU lawsuits. The company creditors seek to force the company to restructure its debt. After many attempts, the ninth lawsuit filed in September 2023 was granted by the court. Rekind entered its temporary PKPU period. Luckily, within about three months, Rekind was able to convince its creditors and resolve the dispute with a peace agreement.
Read MoreOver two years since 2016, PT Eterindo Wahanatama Tbk (ETWA), a chemical products trader, has been sued four times by its creditors and all lawsuits are related to debts issues. Fortunately the company was able to resolve its issues out of court. The last lawsuit filed in the middle beginning of 2018 was also withdrawn by the plaintiff. The situation has toned down slightly for the company, the pandemic can be overcome without many obstacles, or so we thought. Towards the end of 2023, PT Bank Rakyat Indonesia (Persero) Tbk (BBRI) filed a new PKPU lawsuit against the company, but this time there are other defendants, i.e., three subsidiaries. The process runs very quickly and is relatively far from media coverage. In just four months after the lawsuit was registered, Eterindo was declared bankrupt.
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