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Backgrounder
Tenggara Backgrounder June 24, 2022
POLITICS
Top 2024 favorite Prabowo still without a ticket
Defense Minister Prabowo Subianto may be consistently topping almost all recent electability polls for Indonesia’s next president, but he and his Gerindra Party are still struggling to secure enough support for him to run in the 2024 election.
Cabinet reshuffle: Politics over professionalism, again
President Joko “Jokowi” Widodo finally ordered his seventh Cabinet reshuffle after months of speculation that a shake-up was imminent after the National Mandate Party (PAN) joined the ruling coalition. As expected, the President accommodated the late...
Support looms for plan to form new Papuan provinces
The plan to establish new provinces in Papua looks to have reached a point of no return and local support, at least from the elite, is therefore imperative. In this regard Papua Governor Lukas Enembe has given the government’s plan a major boost foll...
NasDem in quandary over would-be presidential candidate
After revealing the names of three presidential nominees for the 2024 presidential election, the NasDem Party is facing a dilemma over which nominee will eventually toe the party’s line. NasDem’s quandary comes as it kicks off coalition talks with ot...
BUSSINES & ECONOMICS
Garuda fends off bankruptcy, but difficulties remain
Garuda Indonesia can finally catch a breath after winning more than 95 percent of its lessors and creditors voted in favor of the airliner’s proposed debt restructuring on May 17at the Central Jakarta District Court. However, the flag carrier still h...
Salim acquires Bakrie’s gold miner BRMS, pushes up share prices
Major Indonesian conglomerate Salim Group has reportedly acquired stakes of publicly listed gold-miner Bumi Resources Minerals (BRMS), a subsidiary of Bumi Resources (BUMI) which is part of the Bakrie Group. BRMS’ purchase by Salim has been a boon fo...
Hutama Karya seeks Rp 65t in new capital for Trans-Sumatra toll road
PT Hutama Karya has asked for state capital injection (PMN) worth Rp 30.56 trillion (US$2.1 billion) from the 2023 budget for the 3,000-kilometer Trans-Sumatra toll road project. Meanwhile, the state-owned construction company is offering three compl...
Global market braces for the era of expensive money
More central banks worldwide have followed the United States Federal Reserve Bank (The Fed) in increasing interest rates as The Fed upped the short-term federal funds rate by another 0.75 percentage point (pp) last week. The world is pacing into the...
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