MNC Group: Growing Political Investments

Weeks into April 9 legislative election, Harry Tanoesoedibjo has intensified his nationwide tour in his capacity as ‘campaign manager’ of Hanura Party and vice president candidate from the party. On the other hand, Media Nusantara Citra (MNCN), considered a locomotive for Harry’s MNC Group, has lost 12.6% its value year-to-date despite the stock buyback program.

Hikmahanto Juwana & His Rhetorics

Kompas, the largest newspaper in the country, published an article of Hikmahanto Juwana titled ‘Freeport and Newmont’ in its op-ed section this morning. In the article, Kompas only mentioned Hikmahanto as ‘International Law Professor at Law School of University of Indonesia’. In the article, Hikmahanto, who is commissioner of state-owned mining company Aneka Tambang (ANTM), suggested the ruling administration and Indonesians to ‘fight Freeport and Newmont’.

SKK Migas Scandals: Adaro, Waryono Karno et al

Few years ago, when Purnomo Yusgiantoro (now defense minister) was energy and mineral resources, Mining and Energy Foundation (Yayasan Pengembangan Energi otherwise known YPE) handed out scholarships to 600 students. Back then, YPE chairman was Waryono Karno, who was also secretary general of the ministry. Waryono is now a corruption suspect, while yesterday KPK searched YPE’s office at Plaza Centris, Jakarta.

Jakarta Journal: Interesting Days Ahead

A lot of interesting events have happened at the capital city of Jakarta ever since Governor Joko “Jokowi” Widodo and Vice Governor Basuki “Ahok” Purnama took control of the city’s administration in 2013. This week in particular, two events are worth noting. The first is the Vice Governor receiving a donation of 51 garbage trucks from Chinese-Indonesian enterpreneurs associated with the Indonesian Chinese Entrepreneur Association (Perhimpunan Pengusaha Indonesia Tionghoa otherwise known as PERPIT). The second event is the signing of the letter of intent between the Jakarta Administration and Taiwan’s Hon Hai Precision Industry Co Ltd (otherwise known by its tradename Foxconn).

Sritex Group After Lukminto (3)

Shares of textile giant Sri Rejeki Isman (SRIL), popular as Sritex, dropped sharply by almost 7% Thursday (Feb 6) as investors digest two main stories of the day: Muhammad Lukminto, founder of Sritex, passed away in Singapore and SRIL kicks off the issuance of US$350 million Senior Notes.

National Healthcare Insurance vs Jakarta Healthy Card

As we’ve reported before, the central government has begun implementing the National Health Insurance (NHI) program under the management of the Social Insurance Implementing Body for Health (BPJS Kesehatan). The first phase of the roll out involves enrolling 76 million poor who were previously covered under the tax-funded health insurance program called Jamkesmas. This is already a problem given that Jamkesmas’ coverage was patchy and left many who actually needed health coverage uninsured. To compensate for Jamkesmas’ lack of coverage, many local governments decided to develop their own local-budget-funded health programs known as Jamkesda. One of such programs is the now famous Jakarta Healthy Card (KJS).

Sritex Group After Lukminto (2)

Sritex has unique relationship with Indonesian politics for several reasons. First, the factory produces military uniforms/suits. Second, the factory employes about 20,000 workers/voters. Third, Lukminto, the founder, was closely linked to political elites ranging from then Golkar chairman Harmoko to president SBY’s Democratic Party or even the wildly popular Jakarta governor Joko ‘Jokowi’ Widodo.

Sritex Group After Lukminto (1)

Detik.com reported Wednesday (Feb 5) night that H Muhammad Lukminto, founder and controlling shareholder of listed textile giant PT Sri Rejeki Isman (SRIL) Tbk, passed away in Singapore Wednesday at 67. Prospect of Sritex after the late Lukminto, who is known politically savvy?

Lawmaker Candidates from Business Sector (IX)

This is the ninth edition of our series of article about lawmaker candidates and their business backgrounds, which might be related to connections between political party leaders and business groups. In this edition, we focus on election areas of Aceh, West Sumatra, Bengkulu, Bangka Belitung, and Lampung provinces in Sumatra Island, home to resource-based businesses.

Mass Layoffs Post Mineral Export Ban (3)

Tribunnews.com reported from Kendari, the capital city of Southeast Sulawesi province, few hours ago that about 14,000 workers at 47 nickel mining companies have been laid off without severance following implementation of mineral ore export ban since January 12, 2014. Some of them started to stage public rallies and protests.

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