Author: yosefardi.com

On the Steel Import Corruption

Throughout 2022, the Attorney General’s Office (AGO) uncovered at least three cases of alleged corruption related to the export-import sector, one of which escaped the attention of national media outlets. There was alleged corruption in the steel import sector. In the middle of the same year, the AGO named three suspects including another official of the Ministry of Trade and in addition to six corporate suspects. Interesting things happened during the court proceedings.

Read More

Latest Lawsuit against Satgas BLBI: The Harjonos

The Satuan Tugas Penanganan Hak Tagih Negara Dana Bantuan Likuiditas Bank Indonesia (Satgas BLBI) commenced confiscation of asset they believed are related to Setiawan and Hendrawan Harjono of Bank Aspac back in July 2023. The manager of the asset denied involvement in the scandal and four months later challenge the decision through the Jakarta State Administrative Court (PTUN Jakarta).

Read More

Mixed results from glass manufacturers

Asahimas Flat Glass (AMFG), market leader for glass in the country, booked net profit of Rp478.8 billion in the first nine months (9M) of 2023, declined 11.3% year on year (y/y) as the Company’s income tax charges reached Rp137.9 billion against in the first 9M of 2022.

Read More

M&A Update

State-owned Enterprises (SoE) Ministry led by Erick Thohir officially merged 13 companies under the Perkebunan Nusantara PTPN III (Persero) holding into two subholdings–PalmCo and SupportingCo. Indocement (INTP), meanwhile, acquired Grobogan Cement factory in Central Java.

Read More

The troubled state construction firms

Once again, whoever wins next year’s presidential election shall seriously address financial issues of state construction firms. Wijaya Karya (WIKA), one of them, has just posted a net loss of Rp5.84 trillion in the first nine months (9M) to September of 2023, compared to Rp27.96 billion loss only in the corresponding period of 2022.

Read More

Latest on Corruption in Meranti Islands

Meranti Islands Regent, Muhammad Adil, has been in the headlines some time ago because of an argument with the Ministry of Finance. He even mentioned that the ministry is filled with demons. Interestingly, when the Ministry of...

Read More

November Rain for Jokowi

A statement from Agus Rahardjo, chief of the Corruption Eradication Commission (KPK) in the period of 2015-2019, in Rosi talkshow at KompasTV on November 30 is the most read article this morning. Agus, for the first time, revealed a meeting between him and President Joko ‘Jokowi’ Widodo, where Jokowi asked him to stop investigation into the e-KTP mega scandal.

Read More

A Quiet Election Campaign

Today is the fourth day of the election campaign, but we haven’t seen the euphoria in public yet. The campaign in the grassroot is relatively quiet, which is odd given a heated tension, especially between the three presidential camps, on mainstream media outlets and social media platforms.

Read More

Blibli still in red

Online shopping mall Blibli.com (PT Global Digital Niaga Tbk/BELI)), owned by Djarum Group, suffered loss of Rp2.65 trillion in the first nine months (9M) to September of 2023, but narrowed from Rp3.75 trillion loss in the corresponding period last year.

Read More
error: Content is protected !!