Pakerin-Prima Master Bank’s problems: Revisiting Njoo Family Feud
The Financial Services Authority (OJK) revoked permits of Bank Prima Master early this year. The bank had a total assets of Rp1.61 trillion by September 30, 2025, while third party funds were claimed at Rp1.4 trillion.
More New Schools
People’s Schools, Garuda Schools, and now a new model is in the works: Integrated National Schools. Through the Ministry of Primary and Secondary Education, the government is reportedly set to build 100 Integrated National Schools starting this year, backed by a budget allocation of Rp 7.21 trillion. But what exactly distinguishes these schools from the special-school schemes already on the table, and what problem is the government trying to solve by creating yet another one?
The NIB debate
The government insists that the mandatory Nomor Induk Berusaha (NIB) requirement for e-commerce sellers has nothing to do with taxation. Legally speaking, that statement is correct. An NIB is a business identification number, not a tax bill. Registering a business does not automatically create a tax obligation, nor does it immediately increase state revenue.
Growing mass layoffs
PT Feng Tay Indonesia Enterprises, footwear manufacturer, has reportedly sent home 4,000 of its 16,000 workers due to a combination of factors, including global disruption of supply chain. PT Pakerin, a paper manufacturer, meanwhile, sends home 2,500 workers due to working capital issues.
Ithaca’s acquisition of Vulcan coal mine
Indonesian miner PT Ithaca Resources, linked to President Prabowo Subianto’s six coal concessions in East Kalimantan province, has reportedly agreed to acquire the collapsed Australian coal miner Vitrinite for A$200 million. Vitrinite, which operated the Vulcan coal mine in the Bowen Basin, fell into administration, owing A$400 million to creditors.
Net sell, questions on Danantara
Foreign investors continued selling pressures on Indonesian stocks Monday (Jun 22) in a trading day dominated by domestic investors. Combined with more questions on Danantara, the composite index of IDX (IHSG/JCI) ended lower by 0.98%.
Improved, but not out of the woods yet
External pressures have eased off notwithstanding uncertainties surrounding the reopening of Strait of Hormuz. Brent crude oil futures were traded below US$80 per barrel. Some domestic issues have also been partially addressed, including budget cut for the free meal and village cooperatives.
Indonesia needs jobs before new roofs
In difficult economic times, governments are judged less by how many programs they launch and more by whether they understand what people need most.
Outsourcing reform: Protection or Illusion?
The government’s plan to limit outsourcing to just four types of jobs—security, cleaning services, drivers, and catering—has been welcomed by labor unions as a long-awaited step toward restoring job security. For years, workers have argued that outsourcing has expanded far beyond its original purpose, creating a class of employees who perform permanent functions without enjoying permanent employment status.
Coal oversight won’t ease the cost-of-living crisis
Indonesia’s latest coal blending regulation may appear to be a technical adjustment aimed at improving oversight in the mining sector. Yet its timing raises broader questions about energy security, economic management and the growing pressures facing the country’s middle class.