Default of PT Pos Indonesia
State postal services company PT Pos Indonesia defaulted payments of coupon for its sukuk due to cashflow issues. State fund management agency Danantara has launched investigative audit on the company after finding violations on governance, including indication of manipulation in financial statements.
Sovereign ratings affirmed, but net sell continues
Composite index of Indonesia Stock Exchange (IDX) advanced 1.92% Monday (Jul 13), while rupiah gained grounds following S&P’s decision to affirm Indonesia ratings at BBB/A-2 with stable outlook.
Recent findings on the KDMP truck procurement
The government, through PT Agrinas Pangan Nusantara (Agrinas), is undertaking a large-scale procurement of operational vehicles for the Red-White Village Cooperative (KDMP) program. Before the process is completed, however, the anti-corruption watchdog Indonesia Corruption Watch (ICW) has raised concerns over potential rents of up to Rp 5.54 trillion. So, what exactly did ICW uncover that led to this conclusion?
Key takeaways from Prabowo’s speeches
President Prabowo Subianto made some troubling remarks on various issues in his recent speeches, including a long speech on the commemoration of Cooperative Day, Sunday (Jul 12), in Jakarta.
Beyond the Broomstick: Prabowo’s Cooperative Vision Needs Clean Governance
President Prabowo Subianto’s speech at this year’s National Cooperatives Day was built around a compelling image. A single broomstick is weak, he said, but many broomsticks bound together become strong. Cooperatives, in his words, are “the tool of the poor,” designed to give ordinary Indonesians collective economic power.
Apple’s lawsuit carries a warning for Indonesia
Apple’s lawsuit against OpenAI may appear to be another Silicon Valley legal battle, but it reveals a much larger transformation in the global artificial intelligence race. The dispute is no longer centered on who has the most advanced language model.
Silencing the messenger weakens the state
The controversy over the leaked official travel document of Public Works Minister Dody Hanggodo has entered a more troubling phase. Public attention is no longer focused solely on the minister’s planned trip to the United States or the government’s explanation that his family’s expenses would be privately funded. Instead, discussion has shifted to reports circulating on social media that several senior civil servants within the ministry have been reassigned following the leak.
Revisiting Tan Kian, Jiwasraya and Asabri corruption cases
The Jakarta Metropolitan Police Office (Polda Metro Jaya) has arrested property businessman Tan Kian on Friday (Jul 10) from his private residence at the Pacific Place, South Jakarta. Few hours ago, the national police (Polri) named Febrie Adriansyah a corruption suspect related to handling of high-profile corruption cases, including Asabri and Jiwasraya.
Top prosecutor Febrie named corruption suspect
The national police (Polri) has finally named Febrie Adriansyah, former assistant attorney general for special crime (Jampidsus), as corruption suspect related to some high-profile corruption cases, including the infamous Asabri case. Property businessman Tan Kian, linked to Asabri case, has also been arrested.
Rally continues, but so the net sell
Composite index of IDX (IHSG/JCI) ended higher by 0.2% Friday (Jul 10) despite weak reading of consumer confidence and retail sales from Bank Indonesia’s surveys. Trading was thin, while foreign investors continued their net sell.