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Tenggara Backgrounder October 28, 2022
POLITICS
Megawati torn between Sukarno clan, party and national interests
Megawati Soekarnoputri, the matriarch of the Indonesian Democratic Party of Struggle (PDI-P), is facing a dilemma in selecting the party’s nomination for the 2024 presidential election. The ideal choice would be a candidate who would go on to win the...
Anies is searching for a running mate
After being named the NasDem Party’s (Nasdem) presidential candidate for the 2024 election, former Jakarta governor Anies Baswedan is on the hunt for his running mate. The party has left the choice to him, however, amid intensifying talks with its po...
PDI-P reignites debate over closed-list electoral system
Recent discourse related to the elections concerns the Democratic Party of Struggle’s (PDI-P) calls for reinstatement of the old closed-list representation electoral system in place of the current open-list proportional system. While the government t...
Prabowo in Pentagon: Indo-Pacific and F-15EX on the table
After meeting at the Manama Dialogue in Bahrain last year, Defense Minister Prabowo Subianto reunited with United States Defense Secretary Lloyd J. Austin III on Oct. 20 for talks about defense cooperation between the two countries and regional secur...
BUSSINES & ECONOMICS
Bakrie’s EV unit VKTR IPO plan revives dormant BNBR share
Electric vehicle (EV) supplier PT VKTR Teknologi Mobilitas – a unit of the politically connected conglomerate the Bakrie Group — has announced a plan to float shares on the Indonesian Stock Exchange (IDX) later this year to raise US$45 million. The m...
PTBA acquires PLN’s assets to rush coal-fired power plant retirement
One source in the government said it had other plans from the PTBA corporate action to buy power plants from PT PLN. The State-Owned Enterprises (SOEs) Ministry hopes that the purchase of the power plant assets can bring positive sentiment, especiall...
Jokowi to offer special incentives for capital city investment
The government, struggling to secure investment to build the country’s prospective new capital city, is drafting a government regulation (PP) to offer special incentives to attract investors. The offers include a tax holiday for up to 30 years and a...
BI lifts rates again by 50bps, more to come
Bank Indonesia (BI) has raised its policy rates, the BI 7-day Reverse Repurchase (Repo) Rate (BI7DRRR) by 50 basis points (bps) to 4.75 percent last week. The third lifts this year, BI is expected to announce more tightening to keep up with The Fed’s...
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