Shares of Chandra Asri Petrochemical (TPIA) ended slightly higher by 0.3% to Rp7,725 on Thursday (Oct 9) making a market capitalization of Rp668 trillion or US$40.5 billion. The stock has gained 7.7% year-to-date despite poor financial performance in the past few years due to persistent oversupply and underwhelming demand growth.

Composite index of Indonesia Stock Exchange (IDX) or IHSG hit a new record high on Thursday (Oct 9) when finance minister Purbaya Yudhi Sadewa met directors of IDX and the Financial Services Authority (OJK), during which he reminded authorities to ‘clean-up’ the market from trading manipulation. What an irony!

The partnership between Pertamina New & Renewable Energy (NRE) and Singapore LNG Corporation seems like a natural alignment of regional interests: Indonesia possesses abundant bio-resources, while Singapore offers capital, technology, and a premium market for low-carbon fuels.

Indonesia’s long-standing digital ghost — the hacker known as Bjorka — has haunted the state for years, exposing the fragility of its cybersecurity and the opacity of its governance. When Jakarta Police announced the arrest of a 22-year-old man from Minahasa, allegedly the infamous hacker, the story seemed to reach closure. But almost immediately, cracks appeared in the narrative. The man arrested — known by his initials WFT — was not a cyber mastermind. He was, at best, a small-time extortionist who borrowed a dangerous name.

When Meta announced the construction of Candle—a new 8,000-kilometer subsea cable linking Indonesia to Japan, Taiwan, the Philippines, Malaysia, and Singapore—the news was wrapped in optimism. The project, which promises a record-breaking 570 terabits per second capacity, is hailed as another leap toward “a more connected Asia Pacific.” It is easy to see why: faster data transmission, greater network reliability, and broader access to digital services.

Pandu Sjahrir, chief investment officer (CIO) of sovereign wealth fund Danantara, said recently that US$10 billion of funds will be invested in onshore and offshore projects starting October to December 2025, including waste-to-energy (WTE), geothermal, and Hajj village in Saudi Arabia. 

Shares of the troubled state steel manufacturer PT Krakatau Steel Tbk (KRAS) gained 6.7% on Wednesday (Oct 9) following news about up to US$500 million financing support from sovereign wealth fund Danantara. This is the second biggest ‘bailout’ program after US$1.84 billion capital injection into flag carrier Garuda Indonesia (GIAA).

Upon the suggestion of several parties, the Indonesian government is said to consider allowing free nutritious meals (MBG) program to be managed by schools. Perhaps, this might be one of the solutions to various problems that we’ve seen so far with the program, particularly in reducing the growing number of food mass poisoning incidents.

Shares of coal miner PT Bumi Resources Tbk (BUMI) ended lower by 1.39% on Wednesday (Oct 8) when the company announced acquisition of a 99.68% stake in the Australian gold and copper mining firm, Wolfram Limited. Gold and copper subsidiary Bumi Resources Minerals (BRMS), meanwhile, advanced 3.24% that day.

The National Food Agency (Bapanas) recently reported its findings that 1.45 million tons of rice have been stored for more than 6 months in the Perum BULOG warehouse; 29,990 of which experienced a decline in quality. At the same time, there has also been a decline of public interest in purchasing SPHP rice, possibly triggered by the TNI-Polri’s Cheap Food Movement (GPM) program.