Below is a list with tagged columns and company profiles.
Today's Headlines Prabowo Subianto
Each quarter we present an update on the 2024 legislative and presidential elections of Indonesia. These elections are important as Indonesia is still a young democracy where policies can change rather suddenly and drastically.
While the 2024 general elections of Indonesia (involving both the presidential and legislative elections) are scheduled to be held on 14 February 2024, we expect to see a growing focus on these approaching elections throughout 2023. The reason is that campaigning will kick off before the end of 2023 (namely on 28 November 2023).
Those who closely follow Indonesian media should have noticed that there has been an increase in coverage of the approaching 2024 presidential election. This involves articles and analyses of the electability of certain political persons (including polls and surveys) but also articles that we consider (hidden) marketing.
On Thursday (27.06.2019) Indonesia's Constitutional Court read out its verdict on the subject of alleged election campaign violations in the 2019 presidential election that was held on 17 April 2019. Defeated presidential candidate Prabowo Subianto had filed the legal challenge as he felt the official results (which had been announced by Indonesia's General Elections Commission/KPU) were heavily influenced by widespread fraud and vote-buying.
In the early morning of Tuesday 21 May 2019, Indonesia's General Elections Commission (KPU) declared incumbent President Joko Widodo the winner of Indonesia's 2019 presidential election. Meanwhile, the KPU also stated that the Indonesian Democratic Party of Struggle (PDI-P) secured most support among the Indonesian people.
Today, Wednesday 17 April 2019, the Indonesian people vote for the country's presidential and legislative elections. While the legislative elections are not less important, most eyes are set on the presidential election; a battle between incumbent President Joko Widodo and challenger Prabowo Subianto.
It could be a coincidence but there is a peak in high-profile corruption cases ahead of the 2019 elections. In another article in the October 2018 research report we discuss the cases of the Lippo Group and Sinar Mas Group, two of the biggest conglomerates in Indonesia. It is widely known that big companies have their networks in political circles, such as the House of Representatives (DPR) and at the political top in provinces.
Indonesia Investments received information that presidential candidate Prabowo Subianto has selected Deputy Jakarta Governor Sandiaga Uno to become his vice-presidential candidate in the 2019 presidential election. The choice for Uno is allegedly accepted by Subianto's Gerindra party as well as by the National Mandate Party (PAN) and Prosperous Justice Party (PKS).
While according to the opinion polls incumbent President Joko Widodo has a big lead over his (seemingly only) rival Prabowo Subianto for the 2019 presidential election, he declines to comment on the race. Instead Widodo - often called Jokowi - chooses to remain focused on work as "a lot has not been completed yet".
Business and politics are highly related to each other and therefore it is worthwhile to take a look at chief executive officers' (CEOs) confidence in Indonesia's national politics as well as their expectations for Indonesia's future political conditions. Local media company Kontan recently issued its latest Kontan CEO Confidence Index (KCCI).
Latest Columns Prabowo Subianto
Investors will need to keep an eye on Indonesia's political years of 2018 (regional elections) and 2019 (legislative elections) as the outcomes can have a big impact on the investment climate and business climate of Indonesia. Most eyes will be on the legislative and presidential elections of 2019.
Around the globe media reported about the controversial decision of the Jakarta Court to hand a two-year prison sentence to former Jakarta Governor Basuki Tjahaja Purnama (better known as Ahok), a much tougher sentence than had been demanded by prosecutors. Ahok, a Christian from Chinese descent, was imprisoned on grounds of blasphemy. However, most analysts assume Ahok is victim of a flawed and corrupt political and judicial system.
After having carefully followed the 2017 gubernatorial election in Indonesia's capital city of Jakarta, there are a couple of worrying signs. One, the rising influence of hardline Islam on Indonesian politics (and prosecution). Two, the rising influence of a handful of Indonesian "billionaire" businessmen, led by controversial Prabowo Subianto, who seek the highest political power within Southeast Asia's largest economy. Three, the cooperation between the two aforementioned forces as they each strive to fulfill their (separate) ambitions.
Basuki Tjahaja Purnama (better known as Ahok) has been inaugurated as the 17th Governor of Jakarta by Indonesian President Joko Widodo on Wednesday (19/11) The position of Jakarta Governor was previously empty as former Governor Widodo stepped down from this position to focus on a (successful) presidential campaign. Although by law the Deputy Governor (Ahok) automatically becomes the new Governor, this has met fierce resistance from certain sides as Ahok is an ethnic Chinese Christian. This news article is the updated version of an article that was first published on 18 November 2014
Indonesian stocks and the rupiah have rebounded on Friday due to several internal and external factors. During the first trading session on Friday (17/10), the benchmark stock index of Indonesia (Jakarta Composite Index, or IHSG) surged 0.94 percent to 4,998.14 points. Meanwhile, based on the Bloomberg Dollar Index, the Indonesian rupiah exchange rate had appreciated 0.26 percent to IDR 12,228 per US dollar by 12:30 pm local Jakarta time. Why do Indonesian stocks and the rupiah perform well on Friday?
The benchmark stock index of Indonesia (Jakarta Composite Index, abbreviated IHSG) took another dive on Wednesday (08/10). The decline was not only caused by the negative influence of declining stock indices in the USA and Europe on the previous day, triggered by the downgraded global economic growth forecast released by the International Monetary Fund (IMF) but also because the market responded negatively to the voting result for the post of speaker of the People’s Consultative Assembly (or MPR).
Bank Indonesia Governor Agus Martowardojo said that although the recent weakening trend of the Indonesian rupiah exchange rate is in line with the performance of other Asian currencies, the central bank is prepared to intervene in the market in an effort to support the currency and keep it in a comfortable range. On Monday (06/10), Bank Indonesia Executive Director Tirta Segara already stated that foreign exchange intervention was conducted in September 2014 in order to stabilize the rupiah exchange rate.
Technically the benchmark stock index of Indonesia (Jakarta Composite Index, or IHSG) had to rebound after sharp declines during the last couple of trading days making Indonesian stocks relatively cheap. The IHSG was also supported by rising stock indices in Japan and Hong Kong that rose on strong US jobs data (although other Asian markets fell due to concerns about sooner-than-expected US interest rate hikes. Meanwhile, the rupiah continued to depreciate as the market is concerned about the political situation in Indonesia.
More and more concerns have arisen recently regarding the democratic future of Indonesia. In fact, some media have reported that an impeachment of president-elect Joko Widodo, who will assume office on 20 October 2014, could become a reality as opposition in parliament - led by controversial and vindictive former army general Prabowo Subianto - is large. The Merah-Putih coalition, referring to the coalition of political parties that supported Subianto in the presidential election (which he narrowly lost to Widodo) will control 353 of the 560 seats in parliament.
The benchmark stock index of Indonesia (Jakarta Composite Index, abbreviated IHSG) fell 0.14 percent to 5,198.90 points on the last trading day of the week, the first day of decline in five trading days, as investors engaged in profit taking after Indonesia’s Constitutional Court confirmed the official election result of the General Elections Commission (KPU) that announced Joko Widodo as winner of the July 2014 presidential election. Next week investors may continue profit taking as the index is still overbought.
