Author: yosefardi.com

From Coal to Nickel (2)

In November last year, TOBA formed a joint venture with ride-hailing giant Gojek. They aim to capitalize on the development of the electric motorcycle business in Indonesia. Through its subsidiary, PT Karya Baru TBS, TOBA signed the deed of establishment of PT Energi Kreasi Bersama, a joint venture company in the form of a limited liability company established by PT Rekan Anak Bangsa. The paid-up capital at PT Energi Kreasi Bersama is Rp. 71.75 billion.

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More Internal Friction within Democratic Party

The leaders of the Democratic Party from 16 branches in South Sulawesi have expressed disappointment with the Chairman of the Democratic Party, Agus Harimurti Yudhoyono (AHY), who is also the eldest son of the sixth President Susilo Bambang Yudhoyono (SBY). Said leaders rejected AHY’s decision to appoint Ni’matullah as the chairman of the Democratic Party’s South Sulawesi provincial chapter. It’s yet another challenge to AHY’s leadership.

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Acting Governor of Jakarta (2)

Police Inspector General (Insp. Gen.) Muhammad Fadil Imran, the chief of the Metro Jaya Police, has been mentioned as another acting governor of Jakarta candidate to replace Anies Baswedan, who will end his term in October 2022. Mohamad Taufik, one of the deputy speakers of the Jakarta city legislative council (DPRD DKI), mentioned Muhammad Fadil Imran’s name. Taufik is a senior politician from the Gerindra Party, a political party led by the Minister of Defense Lt. Gen. (ret) Prabowo Subianto.

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Budget Revised

The Government proposed revising the state budget and spending (APBN) for 2022. The Budget Body of House Representatives (DPR) approved the said proposal. The Government needs to revise, especially on the spending side, as higher crude oil prices will impact higher subsidies for energy.

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Merdeka Copper getting closer to the Nickel-EV Ecosystem

Merdeka Copper Gold (MDKA) announced the entry of Brunp, an entity controlled by China’s Contemporary Amperex Technology Co Ltd (CATL), as owner of 5% shares in the gold and copper producer, which currently has market capitalization of Rp120 trillion. This is the second major investment from CATL, the world’s largest lithium ion battery manufacturer, in Indonesia.

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Cabinet Reshuffle Soon?

President Joko “Jokowi” Widodo has only two more years in office until October 2024. With only two years left in office and the cabinet’s members seems busier with the 2024 race than focus on their jobs, will we see the President make changes to his cabinet soon?

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The Golkar Axis: Implications?

There is no guarantee that the coalition of the Golkar Party with PPP and PAN will last until the 2024 elections. Golkar’s coalition could make the other political parties scramble to establish new coalitions as early as possible. Three or even four coalitions of political parties might then compete in the 2024 presidential race.

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