Author: yosefardi.com

Fund Raisings

Bank Rakyat Indonesia (BBRI) plans to launch the rights issue, offering 28.67 billion new shares, representing 23.25% of enlarged capital. The proceeds will boost its capital adequacy ratio (CAR) to 23% from the current 19.8%. The Government has supported BBRI’s plan to launch the rights issue, called a non-cash transaction. The Government will absorb said rights issue and transfer all of the Government’s B shares in PNM and Pegadaian to BBRI.

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End-of-Week Covid Brief: June 18, 2021

Jakarta is again the epicenter of the COVID-19 outbreak in Indonesia. Of the 12,990 new cases reported today, 4,737 are from Jakarta. The author personally experienced the difficulty of searching for in-patient care in the past week. National media outlets have also reported an alarming increase in burial rites using COVID-19-protocol in the Capital City. 

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Oil Declines for 2nd Session

Oil prices fell on Friday, extending declines in the prior session, as the dollar strengthened on the prospect of interest rate hikes in the US. Demand worries also resurfaced after new corona virus cases jumped in Britain,...

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Commodity Prices Tumble

Commodity prices resumed their decline in the third week of June, as a stronger dollar, China’s moves to ease inflation and hawkish Federal Reserve forecasts lead investors to unwind bullish positions and sell futures contracts....

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Military Procurement: Prabowo’s Deal with France

The Ministry of Defense has reportedly signed an early contract with Dassault Aviation, an aircraft manufacturer from France, for the purchase of 36 Dassault Rafale fighter jets. The Minister of Defense Prabowo Subianto, who is known for his special ties to France, is planning to strengthen the country’s primary weapons system (Alutsista) by, among others, purchasing fighter jets from France.

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2024 Race: Kingmakers?

Pollster LSI Denny JA has released the result of its latest electability survey, in which Prabowo Subianto is shown leading the poll. LSI, however, found that no potential presidential candidate, including Prabowo, can reach above 25 percent electability. Potential presidential candidates aside, the Pollster believes that three party chairmen from the three largest political parties would become the kingmakers in the 2024 presidential election and determine who will compete in the race.

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On Corruption in South Lampung

In 2018 the Corruption Eradication Commission (KPK) uncovered a case of corruption in South Lampung and ensnared several people including then Regent of South Lampung one Zainudin Hasan. Zainudin was found guilty in 2019 but the KPK continued developing the case. This week, the Corruption Court of the Tanjung Karang District Court read the verdict for the latest defendant. 

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On the Corruption in Jambi

Three months ago, we thought the investigation into corruption in Jambi would end after the court read its decisions on the last batch of defendants, but we’re wrong. The Corruption Eradication Commission (KPK) continued developing the case and recently announced four new suspects. So the case uncovered nearly four years ago has ensnared over 20 individuals. 

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Corporations to Watch

Shoemaker Sepatu Bata (BATA) opted to close 50 unprofitable outlets, leaving 460 outlets in operation, due to the impact of the COVID-19 pandemic. The Company then focuses on boosting online selling using digital platforms such as ChatShop, website, and cooperating with some e-commerce platforms.

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