Shares of cellular operator XL Axiata (EXCL) lost 4.6% to Rp2,280 on Wednesday (March 27), valued at Rp31.1 trillion, with sentiment undermined by the development on the consolidation or merger with Smartfren Telecom (FREN) which was traded flat at Rp50 yesterday, valued at Rp16.77 trillion.
Read MoreIn mid 2023, the investigation into allegations of corruption at the root of the problem which caused the cooking oil shortage and price surcharge developed after the Attorney General’s Office (AGO) announced that it had named three groups of companies as suspects. However, until now there are still many questions remaining, especially regarding the Government’s responsibility. The companies tried to file a State Administrative lawsuit against the Minister of Trade soon after and received interesting decisions, but despite the decision, today, trial on the case of alleged corruption will commence.
Read MoreThe Satuan Tugas Penanganan Hak Tagih Negara Dana Bantuan Likuiditas Bank Indonesia (Satgas BLBI) continues to work in summoning obligors who can be traced. In the last few announcements we know that the parties summoned are small debtors, those who were able to ignore their obligations after various creditors (who were BLBI obligors) experienced problems. As the financial institutions that gave them loans collapsed, there was no one left to supervise the settlement of these debtors’ obligations, therefore after two years of work and focusing on big BLBI obligors, now the Satgas has started summoning these small debtors, although some of them still have large amounts of obligations.
Read MoreThe upcoming meeting between the fifth President Megawati Soekarnoputri, the matriarch of PDIP, and President-elect Prabowo Subianto, who is the chairman of Gerindra Party, could be determining for Indonesia’s political landscape in the next five years. If PDIP joins Prabowo’s administration, we may see the retired General rules the country without opposition.
Read MoreThe outgoing President Joko “Jokowi” Widodo will end his term in October 2024, so it is still seven months away before the President-elect Prabowo Subianto takes over the office. However, the shift of power from Jokowi to Prabowo may be starting from now. In that regard, it is worth to highlight, among others, the recent job rotation instituted in the Indonesian Military (TNI).
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