If the Telkomsel–GoTo investigation is the legal lever pressing GoTo downward, the upcoming Presidential Regulation on ride-hailing is its regulatory counterpart. Together, they create a powerful two-pronged pressure architecture that reshapes the negotiating field for Indonesia’s largest digital platforms.

The Attorney General’s Office launched a probing investigation into Telkomsel’s multibillion-rupiah investment in GoTo, while the Presidential Palace openly confirmed that the government is “reviewing” a potential Grab–GoTo merger. On the surface, these events appear unrelated. A closer look suggests they may be part of the same long game.

Three major conventional banks, Bank BRI (BBRI), Bank Central Asia (BBCA), and BNI (BBNI), have ventured into ‘digital bank’ business. On average, they grew slower than ‘digital banks’ controlled by non-bank groups like SeaBank, BankJago, and Superbank. 

If the leaked prospectus is confirmed, Superbank will have bigger market capitalization than AlloBank (BBHI). BBHI, controlled by Chairul Tanjung, was last traded at Rp1,460 to make a market capitalization of Rp31.4 trillion or 4.2 times equity. The bank lost 78% its value from peak in April 2022.

Social and conventional media widely discussed about the leaked prospectus for the initial public offering (IPO) of Superbank, a digital lender backed by Grab and Emtek Group. Superbank is said expecting to raise over US$320 million from the IPO with enterprise value of US$2.15 billion, which, if materialized, will make it bigger than BankJago (ARTO) and AlloBank (BBHI). 

The central government’s policy to reduce regional transfers (TKD) worries the public, and especially regional heads, considering its likelihood to create a turbulence in the fiscal management. Low economic independence, paired with limited funds from central government, is not a pleasant combination for regions with weak fiscal capacity.

As Blok Cepu enters the final decade of its 30-year production sharing contract, a quiet question is circulating in policy and industry circles: why has ExxonMobil, the operator of Indonesia’s most prolific oil field in the last two decades, not yet submitted any formal request for contract extension?

Evonik Industries AG has divested its full ownership in PT Evonik Sumi Asih to South Korea’s chemical manufacturer, Aekyung Chemical Co Ltd. Evonik has divested its betaines business in Bekasi, West java province, as the company continues to adjust its portfolio toward sustainable specialty chemicals.

So, each business family should have at least one ‘highly inflated stock’ listed on the Indonesia Stock Exchange (IDX) to help polishing the government’s image. In the case of Hermanto Tanoko, it is PT Jaya Sukses Makmur Sentosa Tbk (RISE), a property developer currently worth four times of significantly bigger and more profitable BSD City (BSDE).

Visi Media Asia (VIVA), a media company led by Anindya Bakrie (chairman of Indonesian Chamber of Commerce and Industry (KADIN Indonesia), dismissed 101 more workers in the third quarter of 2025 to make a total of 31% cut in its workforce for the first nine months of the year due to weaker operations and financials.