Day: February 28, 2024

On Forza Land Bankruptcy

Feb 28, 2024 | ,

It has only been three years since PT Forza Land Indonesia Tbk (FORZ, formerly PT Megah Satu Properti) launched its plan to offer the company’s shares through initial public offering (IPO), and two years since the plan was realized in April 2017, the company are already facing issues. In 2019, the Commercial Court of the Central Jakarta District Court registered two lawsuits on Suspension of Debts Payment (PKPU) against the company. The dispute can be resolved with peace agreement, but not for long. By 2022, Forza Land had been declared bankrupt after the court decided to annul the previously agreed peace agreement. Legal problems continue to this day.

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Honorary General Rank for Prabowo?

Honorary General Rank for Prabowo?

Feb 28, 2024 |

Four months ago, we have talked about the possibility of President Joko “Jokowi” Widodo awarding Minister of Defense Prabowo Subianto an honorary four-star rank general. Today, on Feb. 28, the President is indeed scheduled to bestow an honorary four-star rank general on Prabowo.

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Banking Results: Irony of Indonesian Economy

Feb 28, 2024 |

In the past few days, Kompas, the largest newspaper in the country, run headlines about difficulties of low-to-middle income group to move up the ladder due to the so-called ‘income deficit’. Income growth was slower than cost of living, worsened by deindustrialization in the past few decades. 

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Consistently undervalued: Astra

Consistently undervalued: Astra

Feb 28, 2024 |

Shares of Astra International (ASII), market leader for automotive products, ended higher by 1% to Rp5,175 on Tuesday (Feb 27) to make a market capitalization of Rp209.5 trillion, slightly above electric vehicle (EV) startup VinFast Auto Ltd (Rp203 trillion). Astra is 43% below its peak seven years ago.

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