Day: February 15, 2024

2024 Election Result (4): Lalaland

The party at Prabowo-Gibran camp started Wednesday (Feb 14) afternoon with Prabowo’s long speech. This morning, data from the General Election Commission (KPU) pointed to 55.97% votes for Prabowo-Gibran from 39.33% votes counted nationwide. This is a landslide victory because Prabowo win in almost all provinces, bigger than Jokowi’s victories in 2014 and 2019, among others thanks to huge support from Jokowi and his supporters who believe that Prabowo’s victory is like a ‘third term for Jokowi’.

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Political Dynamics to Watch: Jokowi-Prabowo Relationship

Apart from the dynamics between political parties, it’s truly worth monitoring the relationship dynamics between President Joko “Jokowi” Widodo and Prabowo Subianto, who based on quick count from all polling agencies wins 2024 race and will become his successor. The dynamics between these two key figures will affect the remaining eight months of Jokowi’s administration and the next administration under Prabowo.

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Anyone Ready to become the Next Opposition?

Quick count from all polling agencies, including Litbang Kompas, the research division of Kompas (the largest newspaper in Indonesia), pointed to a landslide victory for Prabowo-Gibran in one round. Ganjar-Mahfud and Anies-Muhaimin, however, have not yet conceded, waiting for the real count from the General Election Commission (KPU). Moreover, Ganjar-Mahfud believes that there is a structured, massive, and systematic fraud in the election.

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FY/23 Results: FASW & ARNA

Paper producer Fajar Surya Wisesa (FASW), which was linked to the family of Airlangga Hartarto (coordinating minister for the economy, chairman of Golkar Party), but then majority acquired by Siam Cement Group (Thailand), suffered loss of Rp626 billion in 2023, against profit of Rp120 billion in 2022, as sales fell 29.3% year on year (y/y) to Rp7.72 trillion.

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Post Election Market Outlook

Quick count from some polling agencies pointed to a landslide victory for Prabowo Subianto-Gibran Rakabuming Raka, followed by Anies Baswedan-Muhaimin Iskandar, and Ganjar Pranowo-Mahfud MD. Real count from the General Election Commission (KPU) with nearly 40% votes counted also pointed to a victory of Prabowo-Gibran. 

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