Average price of crude palm oil (CPO) in July 2025 was only 5% above the same month last year, but Indonesia recorded 82.72% jump in export year-on-year to US$3.52 billion. In the first seven months of 2025, palm oil and derivatives contributed US$19.4 billion, an increase of nearly 38% year-on-year. What happened?

Indonesia welcomed 8.53 million visits of foreign tourists in the first seven months of 2025, an increase of 10.04% year-on-year. Vietnam, meanwhile, recorded 12.23 million foreign tourists in the same period, an increase of 22.5% from the corresponding period last year. 

Composite index of Indonesia Stock Exchange (IHSG) opened substantially lower by 3% this morning, dragged down by blue chip stocks. Major banking stocks like BCA, BRI, and Mandiri opened lower by more than 2% each. Telkom (TLKM) and Astra (ASII) also opened lower by more than 2%.

Financial market will start a new week digesting unrest in Indonesia and economic slowdown in China. While students skip Monday (Sep 1), they will likely return to the streets Tuesday even when political elites have pledged to accommodate some of their demands, including cancellation of rise in salary and perks for the lawmakers (DPR). 

So, the so-called Rp50 trillion-size ‘patriot bonds’ from sovereign wealth fund Danantara has already oversubscribed. “That should not be a surprise. Even if Danantara will scale up the bonds to Rp100 trillion, it will be oversubscribed several times because we have a lot of rich people, including corruptors, who can easily be blackmailed,” one banker commented.

Shares of Dian Swastatika Sentosa (DSSA), controlled by Widjaja Family (Sinarmas Group), ended higher by 2.3% to Rp97,150 on Thursday (Aug 28), making a market capitalization of Rp750 trillion, more than 22 times equity. It clearly has nothing to do with the group’s entry into geothermal business with First Gen Corporation. 

Shares of MNC Sky Vision (MSKY), operator of cable TV Indovision, Okevision, etc, ended at Rp90 on Thursday (Aug 28) to make a market cap of Rp179 billion only. Nothing compared to the valuation set in the company’s initial public offering (IPO) back in 2012 at Rp10.7 trillion (that time US$1.14 billion).

Amid the surge of digitalization and the rapid rise of artificial intelligence in Indonesia, one new name has emerged in the local gaming ecosystem: Dream Forge Creation (DFC). Established in 2024, this company was born out of a simple yet ambitious idea: to bridge the gap between the creativity of indie developers and the wider market.

Stiff competition, including from financial technology platforms, and slowdown in automotive market have forced further consolidation in the consumer financing industry. Adira (ADMF) and Mandala Finance (MFIN) are in the process of merger, following last year’s acquisition of MFIN by the MFUG Bank (indirectly controls Adira through Bank Danamon/BDMN), which should be completed in October 2025.

Thousands of laborers will be holding simultaneous mass protests today (28/08) in 38 provinces across Indonesia, including the Special Capital Region of Jakarta, starting at around 9.00 or 10.00 local time. They call for an increase in minimum wages and elimination of the outsourcing system, as well as other demands focusing on laborers’ welfare.