Curious case of Bank Mayapada

Shares of Bank Mayapada (MAYA), majority owned by the family of Dato Tahir, opened flat at Rp188 this morning to make a market capitalization of Rp4.87 trillion, not even one third of the bank’s equity (Rp16.99 trillion by June 30, 2025). The bank is the worst performing in the category of bank with total assets more than Rp100 trillion. 

Tax break shows how fiscal policy can power a creative industry

The Australian government has embraced a bold fiscal strategy to boost its video game industry, offering a Digital Games Tax Offset (DGTO) of 30 percent for eligible development expenditure, with a minimum spend threshold of AUD 500,000 and an annual cap of AUD 20 million per corporate group. Several states have added top-up incentives of up to 10–15 percent.

Sovereign AI fund

Indonesia’s newly proposed sovereign AI fund, to be managed by Danantara Indonesia, could represent one of the boldest economic bets of the Prabowo administration. The 179-page national AI white paper envisions a launch between 2027 and 2029, structured as a public–private partnership with Danantara acting as the anchor investor. The ultimate goal is to position Indonesia as a regional hub for artificial intelligence development, drawing in global tech giants while building domestic capacity.

Undervalued stocks: Tempo Scan

Shares of pharmaceutical company PT Tempo Scan Pacific Tbk (TSPC), controlled by the family of Handojo Muljadi, ended flat at Rp2,160 on Monday (Aug 11) to make a market capitalization of Rp9.74 trillion, slightly above equity (Rp9.44 trillion as at June 30, 2025).

SANY found guilty on vertical integration

Business Competition Supervisory Commission (KPPU) has imposed a total fine of Rp449 billion on three local subsidiaries of Chinese construction machinery giant Sany Group for violating vertical integration and market dominance in selling Sany trucks in Indonesia.

MSCI Index: DSSA & CUAN?

Shares of Dian Swastatika Sentosa (DSSA), parent company of coal mining PT Golden Energy Mines Tbk (GEMS), surged 20% on Friday (Aug 8) following its inclusion in the MSCI Global Standard Index. Petrindo Jaya (CUAN) also gained 7.2% that day for the same reason. 

Lower investments from F&B Processors

Indofood CBP Sukses Makmur (ICBP) and Mayora Indah (MYOR) are two of the largest food processors in the country. They came out with some contrasts in the first half of 2025. ICBP reported 56.6% jump in net profit to Rp5.54 trillion, while Mayora suffered 32% fall to Rp1.17 trillion. 

Stock to watch: Fast Food Indonesia

Fast Food Indonesia (FAST), operator of Kentucky Fried Chicken (KFC) outlets, has become the best performing stock in F&B sector with nearly 100% gain in the past three months even when the company reported weaker performance in the second quarter.

Untangling the Google cloud probe

On August 7, 2025, former education minister Nadiem Makarim walked out of the Corruption Eradication Commission (KPK) headquarters after nearly nine hours of questioning. Flanked by his high-profile lawyer, Hotman Paris Hutapea, Nadiem kept his words to the press brief, saying only that the examination went “smoothly” and that he appreciated the opportunity to clarify matters. The case in question is the alleged corruption in the procurement of Google Cloud Platform (GCP) services during his tenure, a deal that could reshape how Indonesia governs its technology spending.

Update on music royalty dispute

Several prominent musicians, such as Ahmad Dhani and Charly Van Houten, have taken significant steps in response to these issues. Ahmad Dhani, for instance, decided to waive royalty fees for Dewa 19’s songs played in cafes and restaurants. He hopes this measure will ease the burden on business owners affected by the pandemic. On the other hand, Charly Van Houten chose a lighter approach by not demanding royalties for his songs performed at cafes and restaurants and offering rewards to musicians who perform his songs directly at those places.

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