Week ahead
External factors might be favourable for Indonesian market in the new week. Brent crude oil futures dropped 3.37% to US$87.3 per barrel on Friday (Jun 12), while USD lost ground against most currencies on US-Iran peace deal optimism.
Revisiting Bakrie’s VIVA & tax liabilities
Visi Media Asia (VIVA), holding company for TVOne and ANTV controlled by Bakrie Group, has only published its full year 2025 financial statement two weeks ago. The report confirmed VIVA as the worst performer among major players in the TV media industry.
Prabowo’s national car program
President Prabowo Subianto said recently that he saw the country was heading to wrong direction in early 90s, and that he is now taking the country to a new direction. It is not clear, however, whether national car program from then President Soeharto, that time Prabowo’s father in law, was among indicators of ‘wrong direction’ he’s now revisiting.
Personal care industry: Old vs New
Mustika Ratu (MRAT) and Martina Berto (MBTO) used to be household names for cosmetics and personal care. They’re among pioneers of local brands. Their companies have also long listed on the Indonesia Stock Exchange (IDX). Their combined market value (Rp316 billion), however, is not even one tenth of Billy Hartono Salim’s Victoria Care (VICI).
ADES heats up gummy candy market
Shares of Akasha Wira International (ADES), producer of ADES bottled water, ended higher by 0.46% to Rp22,000 on Friday (Jun 12) as investors positively responded the company’s plan to expand into the gummy candy business.
Students return to the streets
Thousands of police personnel had been deployed across Jakarta to secure student demonstrations centered around Bundaran HI. The immediate trigger may be a protest organized by BEM UI, but the emerging picture suggests something broader: a growing convergence of student organizations, campus groups, and local activist networks expressing concern over Indonesia’s political and economic direction.
Who will pay for PPPK promise?
The recent wave of governors appearing before the House of Representatives with a similar plea—more money to pay government contract employees (PPPK)—should serve as a warning sign for policymakers.
A new wave of demonstrations
As the government stumbles from one controversy to another, students are once again at the forefront of safeguarding democracy. They will hold a demonstration in Jakarta today, adding to the growing list of mass protests that have taken place across several regions of Indonesia over the past week. Their demands focus not only on the country’s increasingly troubling economic conditions, but also on a range of policies implemented by the Prabowo Subianto-Gibran Rakabuming administration.
More electricity projects to watch
President Prabowo Subianto has approved a plan from Kalla Group, led by Jusuf Kalla (former vice president), to build up to 2,000 MW power plants (hydropower and gas-fired) with investment of up to Rp70 trillion.
Telkom & MDI Ventures
Shares of Telkom (TLKM), market leader in telco services, advanced 2.14% to Rp2,870 Thursday (Jun 11) on the company’s plan to buyback shares and streamlining operations. Telkom’s first quarter 2026 results were actually weak.