Rumours have been swirling around for quite sometime now about cabinet reshuffle in the coming weeks. Two key economic ministers are said to be kicked out: Airlangga Hartarto (coordinating minister for the economy) and Sri Mulyani Indrawati (finance). 

Shares of PT Data Center Indonesia (DCII) Tbk advanced 10% to Rp186,925 on Tuesday (Mar 11) to make a market capitalisation of Rp446 trillion. Another 10% gain today would mean DCII worth twice of Telkom (TLKM), the largest telco player in the country. With low trading volume, DCII could easily be pumped up the US$100 billion league. 

Dow Jones Industrial Average (DJIA) ended further down by 1.14% Tuesday (Mar 11), while Nasdaq composite gave early gains to edge lower by 0.18% on global trade uncertainties induced by President’s tariffs on products from Canada, Mexico, and China, which have respectively retaliated promptly. 

One CEO of Indonesian company expressed his disappointment on how investment authorities treated his counterparts from US company. The US company, which plans the first joint venture in manufacturing here, sent some executives for a meeting to demand clarification of Indonesian government policies. 

Composite index of Indonesia Stock Exchange (IDX) might follow global stock markets in negative territory today. Market participants might also act on correction in the commodities market, whilst not across the board like equity market. 

Patrick Walujo, CEO of GOTO Gojek Tokopedia was seen accompanying President Prabowo Subianto in a press conference at the State Palace Monday (Mar 10) related to holiday bonus (THR) for ride-hailing drivers. Prabowo didn’t reveal how much one driver would get, pending negotiation between companies like Gojek and the ministry of manpower. 

Minister of state-owned enterprises (MSOEs) Erick Thohir has assigned PT Agrinas Palma to manage 221,000 hectares of plantation assets previously controlled by Duta Palma Group. These assets, seized in corruption case, were earlier handed over by the Attorney General’s Office (AGO) to Ministry of SOEs. Some wonder why not assigning PT Perkebunan Nusantara III, holding company for state plantation firms?

Matahari Department Store (LPPF) has quietly dismissed nearly 1,000 workers last year following the closing down of 12 outlets in some cities. Fastfood Indonesia (FAST), operator of Kentucky Fried Chicken (KFC) outlets, sent home more than 2,200 workers in nine months of 2024 due to the closure of 47 outlets.

We’re now entering mid March, but we haven’t been informed about the State of the government budget in January. The release of APBN KiTa, usually every month, is now weeks behind normal schedule, sparking concerns among analysts and market participants. Ministry of finance’s spokesperson said it is just a matter of busy schedule, but Minister of finance Sri Mulyani Indrawati herself said it’s pending completion of the Budget adjustment.

Shares of Cinema XXI (CNMA), the largest operator in the country, ended lower by 1.4% to Rp137 on Friday (Mar 7) as investors responded the company’s financial performance. That means the stock is still way below the initial public offering (IPO) price (Rp270) in 2023.