What Ahok’s Testimony Reveals

Jan 29, 2026 | Law, Market

The ongoing corruption trial over Pertamina’s crude oil and fuel trading governance gained renewed public attention this week with the testimony of Basuki Tjahaja Purnama, widely known as Ahok. As the former chief commissioner of Indonesia’s state-owned energy...

Credibility issues of IDX & MSCI

Jan 29, 2026 | Market

Both Indonesia Stock Exchange (IDX) and Morgan Stanley’s MSCI shall be blamed for what happened in the market for years now: trading manipulation and poor supervision/compliance. The rally to be included in the MSCI indexes, for large and small cap alike, led to...

From Agrinas to Perminas

Jan 29, 2026 | Market

Unlike the previous statement from Prasetyo Hadi, minister of State Secretary, that Martabe Gold will be handed over to MIND ID (parent company of state mining companies) and ANTM (state gold miner, under MIND ID), Danantara leaders and energy & mineral resources...

Hostile takeover of Martabe Gold: The law of the jungle

Jan 29, 2026 | Market

Total (France) and Inpex (Japan) lost economic rights in Mahakam, used to be the largest gas producing block, and Chevron (USA) left Rokan Block, then the largest oil producing block, under the Jokowi administration (2014-2024) under the ‘nationalism campaign’. Total,...

Market necessary corrections

Jan 28, 2026 | Market

Composite index of Indonesia Stock Exchange (IDX) opened substantially lower by 6.5% this morning, dragged down by inflated stocks which contributed to substantial rally in the composite index for quite sometime. Inflated stocks like Barito Renewables (BREN), Data...

Holiday bonuses, mergers, and the quiet reshaping of gig economy

Jan 28, 2026 | Market

The confirmation that ride-hailing drivers will again receive a Bonus Hari Raya (BHR) ahead of Lebaran 2026 has been welcomed as rare good news in Indonesia’s gig economy. Executives at GoTo Group framed the move as proof that digital platforms can balance commercial...

Indonesia draws a red line on AI platforms

Jan 28, 2026 | Market

Indonesia’s warning that it may permanently block Grok AI if it refuses to comply with national regulations marks a decisive shift in how the country positions itself in the global artificial intelligence debate. This is no longer a technical dispute about content...

From revocation to hostile takeover

Jan 28, 2026 | Market

Indonesia’s decision to revoke the permits of 28 companies linked to environmental destruction in Sumatra was initially welcomed as a long overdue assertion of state authority. After years of weak enforcement, the move appeared decisive. Yet the subsequent decision to...

RH Petrogas & Bribery Allegations in Indonesia

Jan 28, 2026 | Market

SGX-listed RH Petrogas Limited with oil and gas operations Indonesia has on Tuesday (Jan 27) released an Independent Review report from PwC related to allegations from whistleblower about bribery committed by former president director of Petrogas Indonesia. Mr Syafri...

Doubts in nickel production cut

Jan 28, 2026 | Commodities, Market

Nickel dropped 1.91% to US$18,235 in the London Metal Exchange (LME) Tuesday (Jan 27) on persistent surplus outlook and doubts over Indonesian government’s plan to significantly cut production of nickel ores.  tradingeconomics.com said the followings: “Nickel futures...