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Backgrounder
Tenggara Backgrounder September 22, 2023
POLITICS
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...
Bringing forward regional head elections, in whose interest?
The Home Ministry surprised many when it tabled a proposal to the House of Representatives to move forward the elections for regional heads from November to September 2024, so that newly elected regional heads would start governing at about the same...
Coalitions must soon finalize presidential and VP nominees
Political parties must hurry to finalize deals within the coalitions they belong to as the General Elections Commission (KPU) has proposed opening the registration window for presidential and vice-presidential candidates for only one week, from Oct....
Ministers free to campaign for elections, terms and conditions apply
The elections in 2024 will be different from in 2019, as incumbent ministers will be allowed to contest them without resigning from their posts. But there’s a caveat: President Joko “Jokowi” Widodo said ministers could retain their positions, as long...
BUSSINES & ECONOMICS
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...
J&T’s upcoming IPO faces legal obstacle
The upcoming initial public offering (IPO) of Indonesia-based Global Jet Express (J&T Express) in Hong Kong is set to take place soon. However, the company may have a regulatory obstacle due to its capital structure, which allegedly violates Indonesi...
Kresna Group founder investigation reveals problems in subsidiaries
Business conglomerate Kresna Group is facing turmoil after its founder and CEO Michael Steven was recently named a suspect in a money-laundering case involving the group’s subsidiary PT Kresna Sekuritas. Following Michael’s being named a suspect, a c...
BI SRBI renders short-term government bonds unattractive
Since the first auction on September 15, Bank Indonesia’s (BI) newest monetary instrument, the SRBI, have received an estimate of Rp 29.87 trillion (US$ 1.94 billion) in total bids, which is 4.27 times higher than the set target of Rp 7 trillion. Wh...
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