Shares of Bumi Resources (BUMI), the largest coal producer by volume, advanced 1.2% to Rp344 this morning to make a market capitalization of Rp127.7 trillion. While it is valued less than three times equity, the stock is now traded with PE multiple 190, among the most expensive in the market.

I was inside the hall during the Indonesia Economic Prospects (IEP) forum when the latest labor data was unveiled. The presentation was clinical, the graphs were neat — but the truth they exposed was deeply uncomfortable: Indonesia is increasingly becoming a low-wage nation, and yet we continue to congratulate ourselves for creating “jobs.”

The Ministry of Energy and Mineral Resources has signed a contract for engineering, procurement, and construction (EPC) work package for the construction of the Dumai – Sei Mangke (Dusem) section for gas transmission pipeline, a major national strategic project.

Genting Plantations Bhd, one of the largest plantation companies in the region, mainly because of Indonesian operation in recent years, has completed the acquisition of two adjacent land parcels in Sentul City, Bogor, West Java province.

Indonesia has recently signed a $500 million conditional agreement for the acquisition of a hotel and a 5-hectare land in Makkah, Saudi Arabia, as part of the Hajj Village plans. On top of that, the sovereign fund Danantara is currently in the top two bidders to acquire 84 hectares of land in the Jabal Hindawiyah area, the result of which will be announced by the end of this month or January 2026.

President Prabowo Subianto’s decision to finally sign the government regulation on wages for 2026 was supposed to end months of uncertainty. Instead, it has exposed a deeper problem in Indonesia’s economic governance: policies are no longer designed to provide certainty, but to manage political pressure in real time.

West Java Governor Dedi Mulyadi’s decision to suspend housing construction permits across the province has quickly evolved from an environmental policy into a national governance problem. What was framed as disaster mitigation is now testing the limits of decentralization, legal certainty, and political accountability in Indonesia’s housing sector.

For several years, Binar Academy has been held up as one of the most credible edtech success stories. Founded by Alamanda Shantika, a former senior product leader at Gojek, Binar emerged with a compelling narrative: closing Indonesia’s digital talent gap while promoting inclusive access to technology skills, particularly for women and underrepresented groups.

Sinarmas, controlled by Widjaja Family, is not a new player in energy sector. Other than operating power plants, the group is one of the largest coal miners in the country (through Berau Coal and Golden Energy Mines). But, the group’s entry into oil and gas surprised some.

KLSE-listed Velesto Energy Berhad informed market authorities on Tuesday (Dec 16) that PT Indonesia Drilling Energy (IDE) has signed a sale and purchase agreement for its jack-up drilling rig, Naga 3, for a total consideration of US$63 million.