In February 2014, Lana Soelistianingsih, economist at Samuel Aset Manajemen, predicted rupiah would strengthen significantly to Rp10,000 per USD if Jokowi, who was tipped potential president candidate, was elected president. Back then, rupiah was traded at Rp11,790 per US dollar. Now, after two terms in office, rupiah is traded at Rp15,656, depreciated 33%.
Read MoreIt seems like the ruling party PDIP is not learning from their defeat in the 2024 presidential election. The Party has not been proactive in approaching the other political parties to join their cause of becoming the opposition to the next administration of Prabowo Subianto and Gibran Rakabuming Raka, who is the eldest son of President Joko “Jokowi” Widodo.
Read MorePresident Joko “Jokowi” Widodo held a dinner meeting with media mogul Surya Paloh, who is the chairman of Nasdem Party, at the State Palace Jakarta last night (Feb. 18). The meeting is worth highlighting in relation to Nasdem’s position after 2024 election in Jokowi’s administration and the next administration of Prabowo-Gibran.
Read MoreMinister of Energy and Mineral Resources (ESDM) Arifin Tasrif said he had agreed the divestment price value for 14% shares of Nickel producer Vale Indonesia (INCO) at around Rp3,000 per share, below current market price or a discount price. INCO was traded at Rp3,690 on Friday last week (February 16), dropped 7.75%, to make market capitalization of Rp36.67 trillion.
Read MoreCoal miner Petrindo Jaya Kreasi (CUAN), owned by Prajogo Pangestu, and Bayan Resources (BYAN)—controlled by Dato Low Tuck Kwong, are two of the most expensive stocks in the market. CUAN has fallen significantly (around 50%) from peak, but might see further corrections.
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