Day: August 13, 2024

Muhaimin’s Reelection & KIM Plus Scenario

PKB, the largest Islamic party in the country, confirmed that the Party will join forces with Gerindra, a political party led by President-elect Prabowo Subianto, in this year’s gubernatorial elections in major provinces such as Jakarta, West Java, and Central Java. PKB will also announce the joining of the Party into Prabowo-Gibran’s coalition to support the next administration during the Party’s chairmanship congress on Aug. 25.

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Golkar’s Next Chairmanship & Jokowi-Prabowo’s Dynamics

Today (Aug. 13), Golkar, the largest political party in Prabowo-Gibran’s coalition, will announce its acting chairman to replace Airlangga Hartarto, who has just resigned from his position. It looks like Agus Gumiwang Kartasasmita, one of Golkar’s deputy chairmen, will replace Airlangga. It is clear, however, whether Agus will later be elected as the new definitive chairman of Golkar in the Party’s chairmanship congress (Munas) or the Party’s extraordinary congress (Munaslub). This might depend on the dynamics between the outgoing President Jokowi and President-elect Prabowo Subianto. Someone else such as Bahlil Lahadalia, who is known very close to Jokowi and also have a good relationship with Prabowo, could come out the other end triumphant.

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Bahlil Lahadalia at al

In the end, it is all about Bahlil Lahadalia, minister of investment, who will likely become the new chairman of Golkar, the second largest political party in the new parliament (2024-2029). Bahlil, who was also recently tipped as new energy and mineral resources minister, played crucial role in getting both Nahdlatul Ulama (NU) and Muhammadyah, two of the largest Moslem organisations, on board for Jokowi administration’s policy in granting mining concessions to religious organizations. 

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Steel Industry Update

In a recent development in steel industry, India’ stainless steel manufacturer, Jindal Stainless Ltd, continues to expand its industrial footprint in Indonesia. Jindal is one of the largest stainless steel producers in the region with crude capacity of nearly two million tons per annum.

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KPPU Examination on Indocement’s Corporate Action

Under the new leadership, the Business Competition Supervisory Commission (KPPU) has finally started to hold the Commission Council Hearing for a comprehensive assessment of the merger and share acquisition transactions notified to the KPPU. The first hearing was conducted on the share acquisition transaction of PT Semen Grobogan by PT Indocement Tunggal Prakarsa Tbk (INTP).

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