Author: yosefardi.com

Latest on the BLBI Scandal: Gondokusumo

The Satgas BLBI (Satuan Tugas Penanganan Hak Tagih Negara Dana Bantuan Likuiditas Bank Indonesia), a task force under Minister of Finance Sri Mulyani Indrawati’s supervision to recover funds related to the 1997-1998 financial crisis, recently carried out certification of assets originating from the Indonesian Bank Restructuring Agency (IBRA/BPPN). It is not surprising to learn that after all these decades there are still many assets that are recorded in the name of former debtors or other third parties. In addition to efforts to strengthen legality, the Satgas continues to confiscate assets that they believe are related to the BLBI scandal and needed to fulfill the obligations of the obligors. Even so, the process was not easy because it continued to encounter resistance. This week, two new lawsuits were filed by two parties, one of which was Trijono Gondokusumo.

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The Bangkalan Political Dynasty

Back in 2014, then Speaker of the Bangkalan Legislative Council (DPRD), Fuad Amin Imron —who was also a former Regent of Bangkalan in Madura, East Java— was arrested by the Corruption Eradication Commission (KPK). The case caused uproar at the time because the amount of alleged State losses are very large considering that Bangkalan is a poor regency. Fuad, then politician from Gerindra Party, was later found guilty for accepting grafts and committing money laundering related to gas supply agreement with PT Media Karya Sentosa (PT MKS).

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Nickel traders (1): Kyara Sukses Mandiri

We have seen fast growing number of nickel trading companies in the past few years alongside massive investment in domestic smelting capacities. Some big groups, including Indika Energy (INDY), have even entered the nickel ore trading business. There are some notable traders we identified recently.

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Asian Stocks Mostly Decline

Asian equity markets mostly fell on Thursday, taking cues from a weak lead on Wall Street as the bond market flashed growing recessionary risks, reflecting recent warnings from top US executives who flagged a possible recession...

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The Army Chief’s Latest Statement

The latest statement from the Army Chief of Staff (KSAD), General Dudung Abdurachman, is quite interesting to be highlighted. The General addressed a circulating rumor regarding the replacement of the three military chiefs and another rumor of him becoming the new chairman of the Indonesian Football Association (PSSI).

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Nickel-EV Journal

Nickel advanced 5.4% to US$30,660 per ton on the London Metal Exchange (LME) Wednesday (Dec 7), the highest level since early May 2022. Other than the usual supply-demand and macroeconomic dynamics, reports about strong sales of electric vehicles (EVs) in Europe and China might have contributed to the recent rally. 

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Security Issues

The Coordinating Minister for Politics, Law & Security Affairs Mahfud MD asks the National Police’s Counter-Terrorism Special Detachment (Densus 88) to tighten the security following a suicide bombing at the Astananyar police precinct (Polsek) in Bandung, West Java on Wednesday (Dec 7). The suicide bombing killed the perpetrator, one police officer, and injured some other officers.

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