Google Ongoing Cases in Indonesia
The Corruption Eradication Commission (KPK) has initiated a preliminary investigation into the procurement of cloud computing services at the Ministry of Education, Culture, Research and Technology under Nadiem Makarim. It marked the third case involving Google in 2025 after the Chromebook graft and the Google Play monopoly. So, let’s do a quick recap.
Should we trust Rosan’s numbers? (1)
Minister of investment Rosan P Roeslani claims investments in the first half reached Rp942.9 trillion, an increase of 13.6% from the corresponding period last year despite falling foreign direct investment (FDI) in the second quarter. Investments by domestic investors surged 30.5% in the second quarter. Really?
Finding Rizal Chalid
For the second time in the past two weeks, Attorney General’s Office (AGO) placed an advertisement in the Jakarta Post about its summon of fugitives in corruption case. Last week, AGO placed an ad for the summon of Jurist Tan, former special staff of Nadiem Makarim, a suspect in Chromebook corruption scandal. This morning, AGO placed an ad for the summon of Riza Chalid, a corruption suspect in Pertamina oil trading.
Reality check on Pertamina Geothermal
Shares of PT Pertamina Geothermal Tbk (PGEO) ended substantially higher by 8.3% to Rp1,830 on Tuesday (Jul 29) even when the company reported 28% drop in net profit for the first half of 2025.
Food Processors in First Half 2025 (2): Ultrajaya
Shares of dairy producer Ultrajaya (ULTJ) declined 1.9% to Rp`,305 this morning as investors responded negatively the company’s financial performance in the first half of 2025, where net profit dropped 20%.
Bank Panin vs Permata
Shares of Bank Permata (BNLI), controlled by the Bangkok Bank, advanced further by 1.3% to Rp3,160 this morning, making it one of the best performing stocks in recent months. Bank Panin (PNBN), controlled by Mukmin Ali Gunawan’s family, meanwhile, opened lower by 0.4% to Rp1,135, solidifying its position as the most underperformed stocks.
DCII’s data fortress or digital bubble?
PT DCI Indonesia Tbk (DCII) booked Rp616.9 billion in net profit during the first half of 2025—a 106% year-on-year surge. With sky-high margins from its Tier-IV colocation services, DCII’s dominance in Indonesia’s nascent data center economy seems unshakable. But is it?
Food Processors in First Half 2025 (1): Cimory
Shares of dairy and consumer food player Cimory (CMRY) ended higher by 2.4% to Rp4,750 on Monday (Jul 28) as investors responded positively the company’s financial performance in the first half of 2025.
Reality check on Cinema XXI (2)
Shares of Nusantara Sejahtera Raya (CNMA), operator of Cinema XXI, ended substantially lower by 3.97% to Rp145 on Monday (Jul 28) as investors responded negatively the company’s financial performance in the first half of 2025.
Leadership shakeup at Vale Indonesia
Major general (ret) Fauzambi Syahrul Multhazar, known close to President Prabowo Subianto, has on Tuesday (Jul 28) been appointed chairman of nickel producer PT Vale Indonesia Tbk (INCO), which is majority owned by MIND ID (holding company for state mining companies).