Who really controls financial watchdog?

Mar 11, 2026 | Market, Politics

Indonesia’s financial sector stands at a critical juncture as the House of Representatives (DPR) conducts fit and proper tests for candidates to lead the Financial Services Authority (OJK). While the process is formally designed to select the most capable technocrats,...

Why Indonesia’s digital ecosystem attracts global gaming brands

Mar 11, 2026 | Market

When Malaysian esports organization Todak announced its expansion into Indonesia earlier this year, the move appeared straightforward. Indonesia is Southeast Asia’s largest gaming market and home to one of the world’s most watched esports leagues, Mobile Legends...

Garena’s growth and a looming question for gaming market

Mar 11, 2026 | Market

Garena, the gaming arm of Singapore-based Sea Limited, reported a strong financial performance in 2025. The company posted revenue of roughly US$2.41 billion—equivalent to about Rp40.6 trillion—marking an annual growth of more than 26 percent. For a publisher that...

Reality check on Hapsoro’s Bukit Uluwatu

Mar 11, 2026 | Market

Hospitality player Bukit Uluwatu (BUVA), controlled by Hapsoro (husband of Puan Maharani, speaker of the House of Representatives/DPR, daughter of PDIP matriarch Megawati Soekarnoputri, recorded net profit of Rp128 billion last year, skyrocketed 1400% from 2024. The...

Super Bank: Far from super

Mar 11, 2026 | Market

Shares of Super Bank (SUPA), a digital bank controlled by Emtek Group, ended higher by 2.37% Tuesday (Mar 10) to Rp865 on broad market sentiment. At the last quoted price, SUPA was traded with PE multiple 262, among the most expensive stocks in the market. SUPA was...

E20: Energy security or the birth of a bioethanol oligarchy?

Mar 10, 2026 | Commodities, Market

Indonesia’s plan to introduce E20 — gasoline blended with 20 percent bioethanol — is emerging as the next chapter in the country’s quest for energy independence. For policymakers at the Energy and Mineral Resources Ministry, the logic appears straightforward: reduce...

Health infrastructure quietly moves offshore

Mar 10, 2026 | Market

Digital health sector has received a new jolt following the decision by Telkom Indonesia to divest AdMedika to Singapore-based Fullerton Health. At first glance, the transaction appears to be a routine corporate restructuring. Telkom has repeatedly said it wants to...

Quiet (mass) layoffs (10)

Mar 10, 2026 | Industries, Market

Some Indonesian manufacturers opted to reduce significantly their workforce due to steady increase of minimum wage and allowances. Others avoided adding workers due to higher portion of direct labour costs in manufacturing activities. Kirana Megatara (KMTR), the...

Undervalued STA Resources

Mar 10, 2026 | Commodities, Market

Shares of PT Sumber Tani Agung Resources (STAA) Tbk or STA Resources ended higher by 2.9% to Rp1,255 on Monday (Mar 9) as investors responded positively the company’s financial performance in 2025. STA Resources, controlled by the family of Suwandi Widjaja and his...

Market rout

Mar 9, 2026 | Market

Asian stock markets fell significantly this morning to respond 17% hike of crude oil to US4108 per barrel. Escalating tensions in the Middle East led to nearly 6% fall of Nikkei 225 in Tokyo and 6.6% drop of KOSPI composite index in Seoul Monday morning, while All...