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Backgrounder
Tenggara Backgrounder July 08, 2022
POLITICS
Indonesia reaps quick dividend from ‘divide and rule’ in Papua
If the intention behind the latest carving of the large land mass of the western half of Papua Island into five provinces from two is to consolidate its rule, Indonesia is already reaping the dividend. Different Papuan tribes are already fighting one...
Govt navigates plan to relocate civil servants to new capital
The government’s ambitious plan to relocate thousands of civil servants to the intended new capital of Nusantara is slowly taking shape as the National Civil Service Agency (BKN) has begun formulating the procedure. However, with doubts cast over the...
Deputy KPK chief Lili in hot water – again
Corruption Eradication Commission (KPK) deputy chairwoman Lili Pintauli Siregar is in the public spotlight for another alleged ethics breach. This time around, Lili reportedly accepted a gratuity in the form of arrangements to watch the MotoGP at Man...
Gerindra and PKB form coalition
The Gerindra Party and the National Awakening Party (PKB) have agreed to form a coalition for the upcoming 2024 general election, allowing Prabowo Subianto to run for president for the third successive race without any guarantee of success.
BUSSINES & ECONOMICS
Eximbank receives warning from OJK over bad debt accumulation
The Indonesian Eximbank (LPEI) has been struggling to tackle bad debt since 2018, when its bad debt percentage hit the double digits. LPEI failed to meet the recommended 5 percent ratio of bad debt for yet another year last year and received a warnin...
Negative sentiment clouds Bukalapak, shareholders purchase more shares
Negative sentiment has hit publicly listed e-commerce unicorn Bukalapak, with a legal suit demanding compensation of Rp 1.1 trillion and suspected ties with problem-ridden humanitarian foundation ACT. Bukalapak’s share price has continued its falling...
Salim Group adds more toll roads to its portfolio with MBZ acquisition
Despite being named after the United Arab Emirates president in the hopes of attracting investment from the country, the Mohammed bin Zayed (MBZ) elevated toll road has instead been acquired by PT Marga Utama Nusantara, a company affiliated with loca...
Astra International re-enters banking industry, through digital bank
Astra International (ASII), which sold publicly listed Bank Permata (BNLI) to Bangkok Bank in 2020, is now re-entering the banking industry by acquiring stakes in much smaller Bank Jasa Jakarta (BJJ) and plans to transform it into a digital bank. Ast...
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