Shares of Indoritel Makmur Internasional (DNET), a company controlled by Salim Group, advanced 1.6% to Rp9,150 this morning to make a market capitalization of Rp128 trillion. The stock almost tripled in the past four years despite pressures on its business portfolios, particularly food and retail.

Cases of default in the fintech lending industry continue to surface. One of the most recent involves Dana Syariah Indonesia (DSI), where thousands of lenders have been unable to withdraw their principal or expected returns. The case underscores the high risks of yield-based investment models and highlights the need for stronger risk-mitigation mechanisms to prevent similar incidents from occurring in the future.

Indonesia has once again chosen fiscal convenience over structural courage. The government’s decision to exempt employees earning up to Rp10 million per month from income tax by having the state shoulder their PPh 21 obligations in 2026 is being sold as a pro-worker breakthrough. In reality, it is neither reform nor resolution. It is a subsidy wrapped in populist language, postponing difficult debates while quietly expanding fiscal risk.

When TOTM Technologies Limited announced that its Indonesian subsidiary, PT International Biometrics Indonesia, had once again secured the Annual Technical Support (ATS) contract for Indonesia’s National ID system in 2026, the news was framed as a story of continuity and trust. Yet behind the familiar language of operational stability lies a deeper issue Indonesia has yet to confront seriously: vendor lock-in in its most sensitive national digital infrastructure.

Shares of companies controlled by Bakrie Group surged last Friday (Jan 2) to continue their rallies since late last year. Electric bus seller VKTR even soared 17.2% to make itself the most expensive stock in the market, traded with PE multiple almost 25,000. 

Bank Jakarta (previously Bank DKI), controlled by Jakarta provincial government, is scheduled for an initial public offering (IPO) this year. Details of the IPO yet to be revealed, but investors might be looking into performance of peers: Bank Jabar (BJBR), owned by regional governments in West Java, and Bank Jatim (BJTM), owned by regional administrations in East Java. 

Results from Indonesia’s first nationwide academic ability test, the 2025 Tes Kemampuan Akademik (TKA), reveal troublingly low average scores in compulsory subjects, particularly Mathematics and English. The findings raised concerns about weak literacy and numeracy skills at the national level. If left unchecked, this issue could have lasting consequences for the quality and competitiveness of the country’s future workforce.

Dedi Mulyadi’s decision to ban new palm oil planting across West Java has been celebrated as an environmental breakthrough. It is bold, politically risky, and symbolically powerful: a governor choosing ecological survival over the seductive promise of quick plantation revenue. Yet beneath the applause lies a more uncomfortable truth — West Java is not starting from zero. There are already palm oil estates, contractual relationships, and business ecosystems that predate this ban. And that means the policy is not just about “saving the environment,” but also about navigating legal, economic, and social consequences.

As Indonesia moves toward 2026, Red and White Village Cooperatives (KDMP) face growing scrutiny over their sustainability. While the government claimed that more than 80,000 cooperatives have already secured formal legal status as part of national efforts to strengthen rural economic independence, many of them remain inactive due to limited capital and lack of viable business models. The question is: Can they overcome these constraints in 2026?

Indonesia’s latest move to “nationalise” or reclaim so-called illegal palm oil plantations has reignited one of the most sensitive debates in the nation’s natural-resource governance: where is the line between genuine law enforcement and political-economic consolidation? At face value, the government’s decision to take over millions of hectares of plantations that allegedly lack proper permits or encroach on protected forests sounds like a long-overdue correction to decades of regulatory neglect. Yet the deeper one looks, the more complex—and politically charged—the picture becomes.