Malut United: A New Club, Old Political Playbook
The sudden dismissal of Imran Nahumarury and Yeyen Tumena — even as Malut United was at the peak of its debut success in Liga 1 — underscores a bigger reality: behind the roar of the stands and slogans of local pride, this football club sits squarely at the intersection of mining capital, national football powerbrokers, and regional political networks.
SAP’s local partners in Indonesia
For years, SAP has been synonymous with the gold standard of integrated ERP systems. In Indonesia, SAP is almost a default choice for companies seeking to elevate their business operations — from manufacturing and mining to FMCG, logistics, and state-owned enterprises. Its comprehensive modules — finance, production, supply chain, HR — are designed to streamline business processes from end to end.
Harita Nickel’s buyback
Shares of PT Trimegah Bangun Persada Tbk (NCKL), popular as Harita Nickel, gained 1.42% to Rp715 Tuesday (Jun 18) as the company kicked off a buyback program. The last quoted price was still far below initial public offering (IPO) price in April 2023 (Rp1,250).
Danantara investment in Chandra Asri’s Chlor-Alkali Project
Shares of Chandra Asri (TPIA), the largest petrochemical company in the country, ended higher by 3.28% to Rp10,225 on Tuesday (Jun 17) on news about the signing of a memorandum of understanding (MoU) with sovereign wealth fund Danantara and Indonesian Investment Authority (INA) for cooperation in US$800 million chlor-alkali project.
Nearly S$1 billion from Wilmar
Attorney General’s Office (AGO) has on Tuesday (Jun 17) took the delivery of Rp11.88 trillion or nearly S$1 billion from Wilmar Group, less than two months after the arrest of Muhammad Syafei (MSY), head of legal of Wilmar Group, as suspect in the court mafia case related to bribing judges at the Central Jakarta District Court to acquit three companies from corruption charges, including Wilmar Group.
Growing list of layoffs
Nine years ago, Singapore’s investment firm GIC invested US$385.19 million in PT Trans Retail Indonesia, member of CT Corporation (Chairul Tanjung). That time, Trans Retail operated 95 outlets of TransMart (hypermarket). The investment was meant to expand outlets. TransMart indeed added more outlets, but then Covid-19 pandemic and changing lifestyle forced the company to close down more outlets.
Zahir ERP at a crossroads
Zahir, once proudly hailed as Indonesia’s local accounting software champion, now stands at a crossroads. Founded by Fadil Fuad Basymeleh in 1996, Zahir quickly earned its place in the market for its simplicity: easy to use, aligned with local tax regulations, and affordable. For many SMEs throughout the 2000s, Zahir was practically the default entry point for basic bookkeeping.
Indonesia-Singapore renewable energy deal & Xinyi’s project (2)
The signing of an MoU between Indonesia and Singapore on renewable energy export and carbon capture might accelerate the controversial US$11.5 billion integrated quartz-to-solar glass project of Xinyi in the Rempang Eco City, Riau Islands.
Indonesia-Singapore renewable energy deal & Xinyi’s project (1)
Indonesia and Singapore moved closer to implement cross-border renewable energy supply, wherein Indonesia would export 3,500 MW capacity to Singapore with the signing of MOU on Monday (Jun 16). Seven business groups, mostly politically connected, have been granted permits to implement the program.
Prabowo-Putin: Issues to watch
President Prabowo Subianto has reportedly opted to meet Russian president Vladimir Putin in Moscow this week, skipping attending G7 Summit in Canada. Other than meeting Putin, Prabowo is scheduled to attend St Petersburg International Economic Forum 2025 on June 20.