Back to where we belong
When one businessman close to the President billed finance ministry Rp7 trillion last year for the works done by his company in 2024, some wonder whether it was properly audited. The businessman was directly appointed to develop infrastructure for the food estate project in Merauke, South Papua province. Without competitive and transparent tender process, the Rp7 trillion bill could become a future target of corruption investigation.
REEs
The government has recently identified eight mining blocks with significant rare earth elements (REE) potential while planning to launch two research projects to develop processing technology.
Correction in consumer financing
Consumer financing companies expect recovery this year with 4.5% growth of retail sales of cars last month. Last year was tough. Mandiri Tunas Finance (MTF), subsidiary of state bank Mandiri (BMRI), suffered 66% fall in net profit, contributing to relatively flat performance of its parent.
Budget deficit & off-budget mechanisms
Do not criticize, or even analyze policies of, Indonesian government if you’re not PhD in economics. That’s basically what Purbaya Yudhi Sadewa, minister of finance, told public late last week regarding a report from Citigroup economist Helmi Arman about the State budget deficit in 2026.
Prabowo’s Co-op: Imported trucks
The Financial Services Authority (OJK) claimed that the financial system had provided Rp148.6 trillion of financing to President Prabowo’s Red-and-White Village Cooperative (KDMP) program last year. Details are not available, but since fourth quarter of 2025, PT Agrinas, a state-owned company tasked to build KDMP’s operational facilities (building, office, warehouse, etc), did start construction works in some areas.
Prabowo’s Co-op: Land and cost issues
Village administration all over the country found very hard to provide 1,000 sqm of land for the Red-and-White Village Cooperative (KDMP). That’s probably why Prabowo administration would seize the so-called ‘dormant/unused land’.
Dividend ratio of state banks
Two state banks, Bank Mandiri (BMRI) and Bank Negara Indonesia (BBNI), have released their full year 2025 financials. Mandiri reported a tiny 0.9% growth in net profit to Rp56.3 trillion last year, slightly below private-owned bank BCA, which has substantially smaller total assets.
Prasasti: Blurred lines between research and lobbying
Like many think tanks, Prasasti presents itself as an independent institution committed to data-driven analysis and objective policy recommendations. In practice, however, it also acts as a bridge between corporations and the government–a role that, by design, places Prasasti in a grey zone, where policy facilitation could easily turn into lobbying. This blurs the boundary between public-interest research and private-interest advocacy.
Foreign publishers can train our developers—but must not own their future
Garena’s latest game development competition in Jakarta looks, at first glance, like a textbook example of healthy industry collaboration. In a 48-hour game jam, young developers are forced to compress ideas into working prototypes, confront technical constraints and present their creations to industry judges. For many students, it is the closest simulation of real studio life they will ever experience.
Digs pocket deeper to bail out Krakatau Steel?
State steel maker PT Krakatau Steel (KRAS), which struggled for decades to make money, has Danantara as its saviour. After receiving US$295 million shareholders’ loan late last year, which likely be converted into equity, Danantara stepped in as investor to replace China’s Delong Steel in a new steel project.