On 8 June 2014, Indonesia Investments released the latest edition of its newsletter. This free newsletter, which is sent to our subscribers once per week, contains the most important news stories from Indonesia that have been reported on our website in the last seven days. Most of the topics involve economic topics such as an analysis of the April 2014 trade balance and May 2014 inflation, the 2009 Mining Law, energy subsidies, palm oil export, foreign exchange reserves, Link Net’s IPO, and more.

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Indonesian President Susilo Bambang Yudhoyono, who will end his second term as president in October 2014, is expected to appoint Lukman Saifuddin as the new Minister of Religious Affairs on Monday (09/06) or Tuesday (10/06) next week. The position of Religious Affairs minister has been vacant since Suryadharma Ali stepped down from his post in late May 2014 to focus on his defense after being named a suspect (by the country’s Corruption Eradication Commission, KPK) in the hajj pilgrimage fund-corruption case.

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On 31 May 2014, Indonesia Investments released the latest edition of its newsletter. This free newsletter, which is sent to our subscribers once per week, contains the most important news stories from Indonesia that have been reported on our website in the last seven days. Most of the topics involve economic topics such as the construction of the world's largest geothermal power plant, forecasts for May inflation and April trade statistics, an update on the ceramic industry as well as on the rupiah and Indonesian stocks.

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Indonesian Minister of Religious Affairs Suryadharma Ali resigned from his ministerial post today (26/05) after having been named a suspect in a corruption case by the Corruption Eradication Commission (KPK) last week. Ali is accused of mishandling the country’s hajj pilgrimage fund. This fund is centrally managed by the government and contains deposits paid by people who want to make the holy journey to Mecca (Saudi Arabia). Ali resigned in order to concentrate fully on his defense in the graft case.

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On 25 May 2014, Indonesia Investments released the latest edition of its newsletter. This free newsletter, which is sent to our subscribers once per week, contains the most important news stories from Indonesia that have been reported on our website in the last seven days. Most of the topics involve political and economic topics such as updates on the presidential election, a new high profile corruption case, fuel subsidies, oil & gas tenders, a stock market update, and more.

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The Corruption Eradication Commission (KPK) of Indonesia has named Indonesian Minister of Religious Affairs Suryadharma Ali (who is also Chairman of the Islamic political party PPP) a suspect in a graft case. Reportedly, Ali engaged in self-enrichment by deliberately mishandling state funds that were allocated for the hajj pilgrimage covering financial year 2012-2013. Funds allocated to the hajj pilgrimage to Mecca totaled over IDR 1 trillion (USD $87 million) in that year. KPK spokesman Johan Budi confirmed the case.

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On 4 May 2014, Indonesia Investments released the latest edition of its newsletter. This free newsletter, which is sent to our subscribers once per week, contains the most important news stories from Indonesia that have been reported on our website in the last seven days. Most of the topics involve economic topics such as macroeconomic assumptions of the Indonesian government, April inflation, the March trade balance, April manufacturing, an update on the rupiah, the 2014 presidential election, and more.

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Two influential Indonesian political parties, Golkar and Gerindra, may form a coalition in order to nominate a presidential and vice-presidential candidate for Indonesia's presidential election that is scheduled for 9 July 2014. After the PDI-P, which won the legislative election on 9 April 2014 with approximately 19 percent of the vote, Golkar (15 percent) and Gerindra (12 percent) came in second and third. However, both these parties contain a leader who has presidential aspirations.

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Today (08/12), the latest edition of our newsletter was published. Our newsletter contains the most important economic, political and social news stories from Indonesia that were reported on in the last seven days. This is of especial importance for those that engage in business in Indonesia or those that are interested to invest in Southeast Asia's largest economy as it will provide a thorough update about Indonesia's macroeconomy. Occasionally, our newsletter also contain event announcements.

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Transparency International has released its Corruption Perceptions Index of 2013. This index assesses "the degree to which corruption is perceived to exist among public officials and politicians" in 177 countries around the world. Berlin-based and non-partisan Transparency International uses polls to determine perceived corruption in the selected countries. Indonesia rose four spots from 118 in last year's index to 114 in the 2013 edition but held the same score as last year (3.2 points).

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At 14:00 pm local Jakarta time zone, Indonesia’s Constitutional Court (Mahkamah Konstitusi) is expected to announce its decision on Prabowo Subianto’s election result challenge. The defeated presidential candidate filed a court case claiming that massive fraud and violations took place amid the voting and counting processes in the context of Indonesia’s July 2014 presidential election, won by Joko Widodo (securing 53.15 percent of the votes). Although the court’s decision is final and legally binding, Subianto not expected to surrender yet.

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Former Deputy Governor of Indonesia's central bank (Bank Indonesia) Budi Mulya was sentenced to ten years imprisonment and a fine of IDR 500 million on Wednesday (16/07) after being found guilty of self-enrichment and corruption in connection to the government's USD $573 million bailout package for Bank Century in 2008 when, amid the global financial crisis, this bank was on the brink of collapse. However, many disagree that Bank Century was about to collapse as no deep analysis had been conducted on the financial condition of the bank.

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On Tuesday (29/04), Jakarta's Anti-Corruption Court sentenced Rudi Rubiandini, former Head of Indonesia's oil & gas regulator SKK Migas, to seven years in prison for money laundering and accepting bribes from Singapore-based Kernel Oil Pte Ltd and Indonesia-based Kaltim Parna Industri. These bribes were given in exchange for securing a win in an oil tender. In addition, Rubiandini was imposed a fine of IDR 200 million (or another three months in prison). Rubiandini was reported to not file an appeal to the court's verdict.

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The tax crime case which involves Bank Central Asia (BCA), Indonesia's largest lender by market value and the second-largest bank by assets, is not expected to have a significant impact on the performance of the shares of BCA. Earlier this week, Hadi Poernomo (Director General of taxation from 2002 to 2004) was questioned by Indonesia's Corruption Eradication Commission (KPK) on allegations of accepting bribes in exchange for tax exemptions - worth of IDR 375 billion (USD $32.8 million) - granted to BCA.

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Fitch Ratings, one of the three major global credit rating agencies, said that its latest annual survey on economic prospects and the business climate in Indonesia indicates an optimistic view. Respondents in the survey, mostly CEOs and Division Heads at financial institutions, companies, government and media, were asked 11 questions about the Indonesian economy, reformation and prospects for the next five years. Andrew Steel, Managing Director Head of Asia Pacific Corporate Ratings Group, presented results of the survey.

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With Indonesia's presidential election approaching (9 July 2014), investors - both domestic and foreign - have become more hesitant to commit to large investments, instead preferring to wait for the election results first. Obviously, investors want to see a 'market friendly' president to lead Southeast Asia's largest economy for (at least) the next five years; a ruler who can safeguard a conducive investment climate. For the Indonesian people, a just ruler is needed; one who can improve Indonesia's political and social issues.

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Mitsui & Co, one of the largest trading companies in Japan, believes that Indonesia is one of the most prospective investment destinations for the middle and longer term. After Brasil and Chile, Indonesia is currently the third-largest investment market for Mitsui & Co, which is part of the Mitsui Group. The latter has stakes in various sectors including energy, food, logistics and finance. The CEO of Mitsui & Co, Masami Iijima, stated that Indonesia is lucrative due to its large and young population as well as its rapidly expanding middle class.

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A survey released by The British Chamber of Commerce Indonesia (BritCham) showed that United Kingdom (UK) investors’ confidence on doing business in Indonesia in 2013 and 2014 dropped but is still positive overall. One hundred corporate and other members of BritCham, 95% of whom hold Senior Management posts, participated in this survey. The survey showed that 60% of the total respondents remained confident about their business in Indonesia, down from 83% in 2012, while the Ease of Doing Business score fell by 15% from 65% to 50%.

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Liberalization of trade and investment among the Asia-Pacific Economic Cooperation (APEC) members should be expanded and governments should refrain from using any protectionist measures. Meanwhile, the private sector plays an important role in the economic expansion of the Asia-Pacific and governments should create a conducive investment climate for this sector. This was the main message conveyed in the speech of John Kerry, US minister of foreign affairs who replaced Barack Obama at the APEC Leader Summit.

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Late on Tuesday evening (13/08), the Corruption Eradication Commission (KPK) arrested Rudi Rubiandini, head of the Upstream Oil and Gas regulatory special task force (SKK Migas) for allegedly accepting bribes amounting to USD $400,000 from Kernel Oil Pte Ltd, which is headquartered in Singapore. Four other people were also arrested in connection with this case. Rubiandini is currently being questioned by the KPK. The institution has one day to determine Rubiandini's legal status.

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