Shares of Raharja Cepu Energi (RATU), subsidiary of Rukun Raharja (RAJA), retreated 2.2% to Rp11,400 on Tuesday (Dec 2), but it has gained nearly 100% since early October. RATU, indirectly controlled by Hapsoro Sukmonohadi (son-in-law of PDIP leader Megawati Soekarnoputri), is now worth the same with Bakrie Group’s Energi Mega Persada (ENRG) and little smaller than Panigoro Family’s Medco Energi (MEDC).

The Attorney General’s Office (AGO) has quietly taken a decisive step in the long-running investigation into alleged tax corruption between 2016 and 2020. This week, the institution questioned Astera Primanto Bhakti, the current Director General of Treasury at the Ministry of Finance, regarding his previous role as a special advisor on state revenue. His examination marks a turning point: the investigation is no longer confined to mid-level tax officials manipulating corporate bills, but has now reached the upper tiers of fiscal policy-making.

Telkom’s decision to spin off its massive fiber-optic business into a new entity named Infranexia marks one of the most consequential restructurings in Indonesia’s digital infrastructure landscape. The company projects grand optimism: Infranexia, they claim, may one day grow “as big as Telkomsel.” It is an attractive narrative — but also a misleading one.

Shares of Bank Panin (PNBN) ended lower by 2.6% on Tuesday (Dec 2), continuing its volatility in the past few weeks. At the last quoted price, the bank was worth Rp26.6 trillion, not even half of its equity (Rp57.9 trillion by Sep 30, 2025).

Shares of Dian Swastatika (DSSA), parent of coal mining company Golden Energy Mines (GEMS), opened higher by 0.5% to Rp113,400 this morning, making it among the most expensive stocks in the market. 

The disappearance of Rp71 billion from the trading account of Irman, a 70-year-old retail investor, is not merely a corporate scandal. It is a brutal warning that Indonesia’s digital securities market is operating under a dangerous illusion of safety—an illusion maintained by brokers who oversell their technological sophistication and by regulators who continue to govern a digital ecosystem with analog-era rules.

Indonesia arrived at COP30 in Brazil armed with a headline: the country’s carbon exchange, IDXCarbon, booked interest and purchase commitments totaling 2.75 million tons of CO₂ credits from more than 20 buyers. It was presented as proof that Indonesia is ready for a global climate-finance role. Yet the celebration masks an uncomfortable truth: while carbon trading accelerates, Indonesia’s ecological debts at home remain largely unsettled — and in some cases, dangerously ignored.

The electric vehicle (EV) charging station arm of Vietnamese’ Vingroup, V-Green has recently signed a memorandum of understanding (MoU) with PT Graha Sarana Duta (Telkom Property), a subsidiary of state-owned PT Telkom Indonesia Tbk (TLKM), to develop public electric vehicle charging stations (SPKLU) in various regions of Indonesia.

Indonesia welcomed 12.8 million foreign visitors in the first ten months of 2025, an increase of 10.32% from the corresponding period last year. Vietnam, on the other hand, reported an impressive growth of 21.5% to 17.2 million in the same period.

Indonesia booked trade surplus of US$35.9 billion in the first ten months of 2025, surged by 44% from the corresponding period last year, thanks to higher growth of export (+6.96%) than import (+2.2%). Indonesia’s export growth was substantially smaller than Vietnam, which posted export growth of 16.2% in the same period.