Stronger Q1 for AKRA
AKR Corporindo (AKRA), distributor of fuel and chemical products, posted net profit of Rp656.5 billion in the first quarter of 2026, an increase of 16.1% from the corresponding period last year despite difficulties in the retail distribution related to import restriction on fuel products.
Upstream weighs on Pertamina Gas
PT Perusahaan Gas Negara Tbk (PGAS), subsidiary of state oil and gas company Pertamina, booked net profit of US$90.5 million in the first quarter of 2026, jumped by 46% from the corresponding period last year despite lower sales revenues.
BankJago: Improved, but not exponential
Shares of digital bank Jago (ARTO) ended substantially lower by 4.1% to Rp1,300 on Friday (Apr 24) even when the bank reported a strong net profit growth of 43% in the first quarter of 2026.
Beyond oil
Market participants will certainly pay attention to the planned US-Iran talks in Islamabad Monday, April 27. There were concerns when Iran’s foreign affairs minister Araghchi left Islamabad, Pakistan over the weekend, but he was reportedly heading back to the city. It remains to be seen whether Trump will annul the cancellation of trip by Steve Witkoff and Jared Kushner for talks on the Iran war.
One country, many EV policies
Electric vehicle (EV) transition is no longer a unified national project. It is becoming a patchwork of provincial experiments—each shaped less by strategy than by fiscal pressure. With new rules issued via the Ministry of Home Affairs, regional governments are no longer required to keep EV taxes at zero. They can now impose or reduce levies such as vehicle ownership tax (PKB) and transfer fees (BBNKB) at their own discretion.
Hajj quotas and hidden brokers: Returning the money—but not the truth
When Khalid Basalamah returned Rp 8.4 billion to the Corruption Eradication Commission, the gesture was framed as cooperation. But in long history of corruption cases, returning the money rarely closes the story. More often, it is where the real questions begin.
Questioning MBG’s digital backbone
In addition to procuring 28,300 Samsung Galaxy Tab Active 5 tablets, it was also revealed that BGN allocated Rp1.2 trillion on IT needs. However, according to BGN Head Dadan Hindayana, the actual expenditure amounted to Rp749 billion, comprising approximately Rp 199 billion for managed services to Internet of Things (IOT) devices and Rp 550 billion for the development of the SIPGN application.
Squeezed margins at Data Center Indonesia
PT DCI Indonesia Tbk (DCII), involved in data centre business, reported 10.9% increase in sales revenues to Rp858 billion in the first quarter of 2025, but net profit dropped nearly 10% to Rp377.8 billion.
More pressures in the financial market
Composite index of Indonesia Stock Exchange/IDX (IHSG/JCI) ended substantially lower by 2.16% Thursday (Apr 23), dragged down by multiple factors, including further sliding of rupiah, the rise of crude oil, and correction in inflated stocks like Barito Renewables (BREN) and Dian Swastatika Sentosa (DSSA).
Missed opportunities at Freeport Indonesia
Temporary suspension of operations at the Grasberg Block Cave underground mine following last September mud rush incident led to downfall of copper and gold production at PT Freeport Indonesia in the first quarter of 2026.