Undervalued stocks: Tempo Scan
Shares of pharmaceutical company Tempo Scan Pacific (TSPC) declined slightly to Rp2,310 in the morning session Monday (Jul 14) to make a market capitalisation of Rp10.42 trillion, slightly above equity (Rp9.59 trillion by March 31, 2025).
Reality check on Prabowo’s ‘Forced Programs’ (1)
Kompas, the largest newspaper in the country, published a very good headline about the Red-and-White Cooperative (Koperasi Merah Putih/KMP) program today (Jul 14). Like other big programs from President Prabowo, reality seems so harsh. While on paper nearly 80,000 cooperatives have been established as legal entities, only few can kick off operations when the program will be officially launched by Prabowo next week.
Nadiem & The Chromebook corruption allegation
The Attorney General’s Office (AGO) continues a probe into the alleged corruption in Chromebook laptops procurement at the Ministry of Education, Culture, Research and Technology during the 2019-2023 period. Most recently, investigators raided the GoTo (PT Gojek Tokopedia Tbk) office in search of new evidence. Meanwhile, an investigation into former Minister of Education, Culture, Search and Technology, Nadiem Makarim, a co-founder of Gojek, has been rescheduled due to his unavailability for the previous summons.
Aggressive placement of politicians in state companies
Over the course of months, Prabowo administration has appointed hundreds of politicians as commissioners and directors of the state companies and or their subsidiaries. Tens have been placed at Pertamina Group, including in the board of directors. Very soon, it could reach thousands, the most aggressive in Indonesian history.
Behind the Komdigi–DQLab partnership
Ministry of Communication and Digital (Komdigi), under the leadership of Meutya Viada Hafid, is pushing for digital transformation through its flagship initiative: the Digital Talent Scholarship (DTS). In this effort, Komdigi has partnered with DQLab, a data science and analytics edtech platform, to deliver free online training in data analytics, data engineering, and machine learning to thousands of Indonesians. But who actually benefits? And how deeply does the initiative address Indonesia’s digital inequality?
Muhammadiyah’s new economic direction
The launch of Bank Syariah Matahari by Muhammadiyah’s Central Leadership (PP Muhammadiyah) in mid-July 2025 marks a new chapter for Indonesia’s largest Islamic organization in the national economic arena. The bank’s inauguration came just a year after Muhammadiyah withdrew over Rp13 trillion from Bank Syariah Indonesia (BSI) in 2024, prompting interpretations ranging from a push for economic independence to a calculated repositioning of financial power.
A more active FKS Group?
FKS is one of the largest business groups in the food ecosystem with interest in soybean, sugar, flour, and snacks. Unfortunately, two companies listed on the Indonesia Stock Exchange (IDX) are not liquid enough in their trading.
Anticipating recovery of Sari Roti
Shares of Nippon Indosari (ROTI), producer of Sari Roti—-market leader in mass bread, declined slightly by 0.6% to Rp815 this morning (Jul 11) to make a market capitalisation of Rp5.07 trillion, more than twice the company’s equity.
Undervalued stocks: London Sumatra Plantations (LSIP)
Shares of palm oil producer London Sumatra Plantations (LSIP) opened slightly lower by 0.8% to Rp1,310 this morning to make a market capitalisation of Rp9 trillion as investors responded to correction of crude palm oil (CPO).
WSKT and WIKA at a crossroads
After a decade of President Joko Widodo placing infrastructure at the heart of Indonesia’s national development, the Prabowo Subianto administration is now shifting focus. The new government appears more invested in food security, defense, and downstream mineral industries. As a result, state construction firms like Waskita Karya (WSKT) and Wijaya Karya (WIKA)—once the driving force behind the nation’s physical transformation—now find themselves at an option, adapt or fall behind.