Impairment losses hurt SMBC Indonesia
Bank SMBC Indonesia (BTPN), one of the largest in private sector, booked net profit of Rp505.5 billion last year, collapsed 82% from 2024 on substantial hike of allowance for impairment losses, mostly from consumer financing segment.
Hartono Family bets more in F&B
PT Savoria Kreasi Rasa, a company controlled by Hartono Family, has on March 2nd completed the acquisition of SariWangi tea brand from PT Unilever Indonesia Tbk (UNVR) for Rp1.5 trillion. This will make Savoria a bigger player in the food and beverage industry.
FID approval for Hashim’s oil & gas project
Conrad Asia Energy Ltd and its subsidiary West Natuna Exploration Limited (WNEL) have secured approval of Final Investment Decision (FID) for the development of Mako gas field in Duyung production sharing contract (PSC).
Quiet (mass) layoffs (9)
Six out of eight IDX-listed companies releasing full year 2025 financial reports on Monday (Mar 2) cut their workforce last year, some in double digit percentage. Not necessarily because of falling revenues and profit.
A shift in public reactions to foreign policy
The ongoing petition, signed by several Indonesian civil society groups opposing the country’s trade agreement and participation in Trump’s Board of Peace, reveals an important development in Indonesia’s policy landscape. At a time when public concern remains primarily focused on economic uncertainty, foreign policy decisions are increasingly coming under domestic scrutiny. This reaction suggests a broader shift, as foreign policy is no longer seen as solely a government matter, but one that directly affects people’s daily lives.
Esports, power and the question of public trust
Vice President Gibran Rakabuming Raka recently called for stronger regeneration and institutional support for Indonesia’s esports athletes, the message resonated with millions of young Indonesians. Esports is no longer a niche hobby. It is a multibillion-dollar ecosystem spanning professional leagues, digital platforms, sponsorships, streaming rights and youth employment.
Interesting trade data in January 2026
Indonesia recorded trade surplus of US$955 million in January 2026, collapsed 72.7% from the same month last year as export grew only by 3.4%, while import expanded by 18.2%. Implication of the government’s policies in mineral sector started to hit export growth.
Public employment becomes a fiscal illusion
The government’s plan to potentially “send home” up to 9,000 contract-based civil servants (PPPK) in East Nusa Tenggara (NTT) has exposed a deeper contradiction at the heart of Indonesia’s public employment policy. These workers were recruited, formally appointed, and sworn in as part of the state apparatus. Yet today, many face uncertainty not because of poor performance, but because regional budgets can no longer afford them.
The technical implications of PP Tunas
Government Regulation No. 17/2025, or PP Tunas, has been presented as a long-overdue measure to protect children in digital spaces. With full implementation beginning in March 2026, the regulation introduces obligations for digital platforms to verify user age, restrict access based on risk classification and submit compliance information to regulators. While the objective of child protection is broadly supported, the technical provisions of PP Tunas raise significant legal and trade questions, particularly in light of Indonesia’s recent digital trade commitments under the Agreement toward Reciprocal Trade (ART) with the United States.
Gainers in 2025 (3): Bakrie’s ENRG
Shares of PT Energi Mega Persada Tbk (ENRG), an oil and gas firm controlled by Bakrie Family, ended substantially higher by 8.6% to Rp1,760 last Friday (Feb 27) as investors responded positively the company’s strong performance last year.