Peer-to-peer lending platform (P2P lender), Investree, was ambitious to help strengthen the Indonesian economy by providing financial assistance to SMEs, especially those affected by COVID-19. This ambition is what makes them get a series of funding even in the midst of a pandemic. However, the impact of COVID-19 lasted longer than the prediction and the condition of the company was also affected although not completely. Throughout 2023, there were two lawsuits filed against the company and entering the third month of 2024, three lawsuits have been filed and the lawsuits and similar lawsuits against the company are growing in number. Too bad, nothing seems to be improving that the company’s license was finally revoked in October 2024. Within two years, there were 17 tort and default lawsuits filed to the South Jakarta District Court against Investree while its CEO is currently on the run.

If Kimia Farma (KAEF) is not bad enough, then try looking at Indofarma (INAF), another state pharmaceutical company. In the first three months of 2025 alone, the company already slashed 302 workers or around 38% of its total employees due to downfall of its business.

PT DCI Indonesia Tbk (DCII) has long been praised as the pioneer of Tier-IV data centers in Southeast Asia. It is unbelievable, that a company with net profit of less than US$50 million is worth US$27 billion. Even when DCII posted return on equity (ROE) of 26.5% last year, it is difficult to justify the price-to-book value (PBV) nearly 150x.

Back in February 2023, state pharmaceutical firm PT Kimia Farma Tbk (KAEF) signed an investment agreement with Indonesia Investment Authority/INA (which has now part of sovereign wealth fund Danantara) and China-based Silk Road Fund (SRF) to boost retail subsidiary PT Kimia Farma Apotek (KFA). 

As Indonesia’s creative economy grows increasingly dependent on digital platforms, Spotify has emerged as a critical gateway for local musicians. It has enabled composers and performers to reach global audiences without needing backing from major labels. For independent artists, Spotify offers both visibility and a revenue stream.

The Financial Services Authority (OJK) has confirmed reports about US$78.5 million fraud committed by one debtor at Bank Woori Bersaudara (SDRA), Kontan business paper reported late last week. Details were not provided, but until now the bank, controlled by South Korean giant, yet to issue any public disclosure.

Nickel inched up to US$15,400 per ton on Wednesday (Jun 4) in the London Metal Exchange (LME). The commodity down 17% year-on-year due to persistent oversupply issue from Indonesia despite reports about production cut. 

Loyalists and supporters of Jokowi, including major business groups financing campaigns, opted to support Prabowo-Gibran in the 2024 presidential election on the back of a promise ‘to continue what the country’s seventh president had done well’. Now they found the word ‘continuation’ is an illusion. 

In the world of digital gaming, Steam is more than just a store—it is a main stage, a global showcase, and a gateway that determines the fate of millions of games. Owned by Valve, this platform is not only the top choice for global gamers but also serves as a success barometer for developers, including those from Indonesia.