Backgrounder

Another NasDem minister bites the dust for alleged graft

Corruption allegations dealt a heavy blow to the NasDem Party for the second time, just over four months ahead of the presidential election. Coordinating Political, Legal and Security Affairs Minister Mahfud MD said on Wednesday that the Corruption Eradication Commission (KPK) had named Agriculture Minister Syahrul Yasin Limpo a suspect over alleged malfeasance.

Waskita Karya defaults on bond payments, investors dump holdings

Indebted state-owned publicly-listed construction company WSKT has caused jitters on the stock market after defaulting on Rp 941.75 billion (US$60.38 million) worth of bonds. The SOEs Ministry scrambled to save Waskita by forcing state banks to agree to the company’s 10-year restructuring plan, but private bondholders rebuffed the plan. Waskita’s fate is now uncertain.

Edition

September 29, 2023

Now Jokowi has a party he can call his own

President Joko “Jokowi” Widodo now has a political party he can call his own after his youngest son Kaesang Pangarep took control of the Indonesian Solidarity Party (PSI) this week, only three days after he was inducted as a member. This prepares the ground for the incumbent to continue exercising some control over the 2024 presidential election.

No easy feat to link Musk’s Starlink with Indonesia

Negotiations are under way for Starlink, a satellite-based broadband service owned by billionaire Elon Musk, to operate independently in Indonesia and provide internet services directly to Indonesian consumers. However, reaching a deal has become a challenge as Starlink must first meet local terms and conditions already set in place.

Edition

September 22, 2023

Tale of two Islam-based parties in Team Anies

Two Islam-based parties could not be more different than the National Mandate Party (PKB) and the Prosperous Justice Party (PKS), yet they have joined hands in nominating former Jakarta governor Anies Baswedan as their presidential candidate for next year’s election. Should Anies goes on to win, the PKB and PKS will be fighting it out in determining the extent to which Islam is going to be a factor in influencing the policies of the new government.

After investor departure, Balikpapan refinery suffers cost overrun, delays

The expansion of the Balikpapan oil refinery in East Kalimantan belonging to state-owned oil and gas holding company Pertamina has suffered a 30 percent cost overrun and further delay to its completion. The Balikpapan refinery expansion is one of the few progressing refinery expansion and development projects mandated by President Jokowi to reduce dependency on fuel imports.

Edition

September 15, 2023

Will Muhaimin reap NU votes for Anies?

Winning votes in East Java, among other key provinces, will be a deciding factor in the upcoming presidential election, as it was in the last two races. Because the province is a stronghold of Indonesia’s largest Muslim organization, Nahdlatul Ulama (NU). Anies Baswedan has turned to National Awakening Party (PKB) leader Muhaimin Iskandar as running mate in the hope of winning this big voting bloc.

IKN to receive investment boost from domestic conglomerates

Domestic investment in the Nusantara Capital City (IKN) is brewing as a handful of prominent national conglomerates are committed to investing in the country’s new capital. The conglomerates, through the domestic direct investment (PMDN) consortium, are expected to break ground this month, giving a sense of relief to the government, which has been injecting a substantial amount of state money into the megaproject.