A logo of the Indonesia Stock Exchange (IDX) is seen at the IDX building in Jakarta on Sunday, April 19, 2026.

Analysis: P2SK Law offers problematic path to IDX demutualization

Indonesia has taken a significant step toward overhauling the governance of its capital market after lawmakers approved revisions to the Financial Sector Development and Strengthening (P2SK) Law, paving the way for the eventual demutualization of the Indonesia Stock Exchange (IDX). The reform seeks to end the longstanding model in which the exchange is owned by its member brokerages, while also allowing institutions such as Bank Indonesia (BI), the Finance Ministry and state asset fund Danantara to become shareholders. However, rather than eliminating governance concerns, the new framework may simply shift them from conflicts among market participants to more complex questions about the state's role in owning the country's capital market infrastructure.

22 hours ago

Opinion premium

Analysis: Cooking up energy security: CNG or induction stoves?

Amid rising geopolitical tensions and growing concerns over energy security, the government is considering phasing out liquefied petroleum gas (LPG) for cooking—around 80 percent of which is imported—by reviving a nationwide induction (electric) stove program. At the same time, policymakers are also exploring the replacement of subsidized LPG with compressed natural gas (CNG) canisters...

1 day ago

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Analysis: Militarization, business risk in cooperatives program

The controversy over military-style training for candidate managers of the Red and White Cooperatives and Fisherman’s Villages programs points to something larger than a single policy failure: the steady expansion of the Indonesian Military (TNI) into civilian governance and economic management. While the deaths of five civilian trainees has sparked public alarm, the deeper concern is how st...

2 days ago