The collapse of Dana Syariah Indonesia can no longer be framed as a routine fintech failure or a temporary liquidity shock. The latest findings pointing to fictitious projects, fabricated borrowers, and a payment structure resembling a Ponzi scheme mark a far more troubling development. What is unfolding is not merely poor management, but an alleged deception carried out under the banner of ethical finance.

Nickel closed substantially lower by 5.34% to US$17,578 per ton in the London Metal Exchange (LME) last Friday (Jan 16) on uncertainties surrounding Indonesian government’s plan to significantly cut nickel ore production. 

National media quoted Barita Simanjuntak, spokesperson of the Forest Area Enforcement Task Force (Satgas PKH), on Wednesday (Jan 14) that it has collected Rp7.07 trillion of administrative fines from 48 companies. 

The Finance Ministry’s plan to introduce a new, lower layer of cigarette excise—widely framed as a way to “draw illegal cigarettes into the system”—may look pragmatic on paper. But in practice, the proposal risks sending a far more troubling signal: that violating the law is not a liability, but a negotiable business strategy.

PT Humpuss Maritim Internasional Tbk (HUMI), controlled by Tommy Soeharto (former brother-in-law of President Prabowo Subianto), appears, at first glance, to be doing many things right. Revenue is growing, profits remain intact, assets are expanding, and the company has secured its place in Indonesia’s energy logistics chain—a sector insulated by long-term contracts and state-linked demand.

When Meta Platforms announced layoffs of more than 1,000 employees in its Reality Labs division, the move was framed as routine cost-cutting. In reality, it marked something far more consequential: a strategic retreat from the metaverse as a central growth narrative. Instead, Meta is pivoting its capital and talent toward portable, AI-powered devices with faster commercial payoffs. For Indonesia, this shift carries lessons that policymakers, startups and investors can no longer afford to ignore.

After cutting down beef import quota for private companies, Prabowo administration ended the rights of private companies to import soybean meal, the main raw material for feed mill and integrated poultry player starting January 1st, 2026.

Shares of PT Jaya Sukses Makmur Sentosa Tbk (RISE), a small property developer controlled by Hermanto Tanoko (whose family also controls Aviant paint), opened lower by 6.25% this morning after substantial gain on Tuesday. At the last quoted price, RISE was worth Rp108 trillion, six times of Pakuwon Jati (PWON).

Indonesia’s financial markets are increasingly shaped not by disclosures or fundamentals, but by social media narratives. Financial influencers now command audiences large enough to move sentiment, mobilize capital and shape retail behavior at scale. Yet when controversies erupt, the recurring question remains unresolved: who is responsible for supervising them?

Over the past week, citizens across Indonesia have reported difficulty finding UHT milk in local retail stores. Shelves that once stocked milk were empty, while some retailers began limiting purchases. Although the government insists that national supply remains sufficient, these local shortages point to a deeper issue: growing pressure on food supply chains following the rollout of the free nutritious meals (MBG) program. What appears as a daily inconvenience for citizens may in fact be an early symptom of food inflation.