Fast Food Indonesia: Improved, but still in red
PT Fast Food Indonesia Tbk (FAST), co-owned by the families of Gelael and Anthoni Salim, recorded net loss of Rp366 billion last year, fell 54% from 2024 despite almost zero growth in sales revenues.
Shaky ceasefire
WTI crude futures plunged 11.45% to below US$83.9 per barrel on Friday after Iran announced that the Strait of Hormuz is now fully open to commercial traffic during the ceasefire period. Brent crude futures also fell 9.07% to US$90.4 per barrel. But, this morning WTI crude futures surged 7.7%, while Brent returned to above US$96 per barrel.
When watchdogs become brokers
The arrest of Hery Susanto, chairman of Ombudsman Republik Indonesia, over alleged bribery tied to a nickel mining dispute should not be read as just another corruption case. It reveals something more troubling: the quiet monetization of state oversight.
FITT, from hotel to mining
Shares of PT Hotel Fitra International Tbk (FITT) jumped 24.73% Tuesday (April 14) to make market capitalization of Rp605.18 billion after the company announced plans to move into the mining sector. The rally continued Wednesday and Thursday, but retreated this morning.
From tax holidays to tax credits
Government plans to shift from traditional tax holidays—full corporate income tax exemptions—to a more constrained system of tax credits. At first glance, this may seem like a technical adjustment. In reality, it marks a structural turning point in how Indonesia attracts and sustains industrial investment.
Nepotism: Easy money from meat import quota
Lutfi Hasan Ishaaq, then president of Islamic party PKS was sentenced 16 years prison in 2013 for his role in bribery related to allotment of import quota for beef. This was possible because PKS cadres controlled ministry of agriculture for 10 years (2014-2024). Will we see new Lutfis behind the bars for the same practice?
BGN’s new offices
The National Nutrition Agency (BGN) plans to expand its organizational structure this year by establishing regional offices and service offices (KPPG) across Indonesia. The regional offices will handle coordination at the provincial level, while the KPPG will operate at the city/district level. This development makes one wonder. Why does the MBG program appear to become increasingly bureaucratic?
Outsourced regulation, imported crisis
The Rp755 billion fine imposed by Komisi Pengawas Persaingan Usaha (KPPU) on 97 peer-to-peer lending platforms has triggered predictable outrage. Industry players argue the decision misreads the nature of fintech lending. Lawmakers hint the ruling could still be overturned. Economists warn of investor flight.
US-Indonesia/-China: Economic implications
Prabowo administration made some controversial decisions with huge economic implications going forward. On February 19, 2026, Prabowo signed two agreements during his meetings with Donald Trump: the US-Indonesia Agreement of Reciprocal Trade (ART), Indonesia joining US-led Board of Peace (BoP).
More holidays but weaker performance at Jaya Ancol’s First Quarter
Pembangunan Jaya Ancol (PJAA), operator of the largest amusement park in northern shore of Jakarta, generated sales revenues of Rp207.6 billion in the first quarter of 2026, down slightly from Rp211 billion in the corresponding period last year.