Day: September 24, 2024

Corruption in BJB

A case of alleged corruption has hit PT Bank Pembangunan Daerah Jawa Barat dan Banten Tbk (BJBR). The Corruption Eradication Commission (KPK) suspects that there are parties that have marked up advertising placement funds throughout the 2021 to 2023 budget years with an inflated amount reaching 100 percent. Reportedly, five individuals have been named as suspects. This news surprised many parties, but we know this is not the first time Bank BJB has had to deal with the law.

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Efforts to Lower Airline Ticket Prices

In the domestic aviation industry, we know that the public has been asking for years about the reasons why domestic plane ticket prices can be many times more expensive than flights abroad. Until now, there has been no answer that the public can understand. To make matters worse, stakeholders and policymakers seem confused by the small problems that must be solved. In this case, various allegations have emerged, including allegations of unfair business competition and monopolistic practices. Not long ago, KPPU conveyed what efforts have been made to resolve this problem.

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Undervalued stocks: Summarecon

Shares of property developer Summarecon Agung (SMRA) were last traded at Rp690 to make a market capitalisation of Rp11.4 trillion, only one-fifteenth of Pantai Indah Kapuk Dua (PIK-2/PANI). Summarecon has just published its first half 2024 financial results, which pointed to strong performance.

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Muhammadiyah & the Next Cabinet

Another interesting news regarding Prabowo-Gibran’s cabinet came from Muhammadiyah, the second largest Islamic organization in Indonesia. Muhammadiyah claimed that they will likely get one minister and two vice minister positions in the next cabinet.

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Happy’s Rukun Raharja

Shares of oil and gas company Rukun Raharja (RAJA), a company controlled by Hapsoro (Happy)—-husband of Puan Maharani (speaker of the House of Representatives/DPR, politician from PDIP), ended slightly lower by 0.8% to Rp1,270 on Monday (Sep 23) just when the company announced strong financial performance in the first half.

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