The two pair of Presidential Candidates mingle at the GEC's office on Friday (21/09) - Photo: Privacy

JAKARTA (TheInsiderStories) – Good morning. Things are not going well for the opposition camp after its Presidential Candidate Prabowo Subianto was put in a situation to deliver a public apology for blindly defending one of its members Ratna Sarumpaet who made accusation of being assaulted, which is later proven to be false.

The false accusations began when a phone of Sarumpaet with swollen face circulated in the social media. Politicians from the opposition were quick to seize the moment and visited Sarumpaet, who then claimed of being kidnapped and beaten.

The opposition then called the incident as an act of oppression by the ruling government and demanded a full investigation.

However, a police investigation later found a lot of missing holes in Sarumpaet’s story, including her whereabout on the date of the alleged incident, Sept. 21. Through records of banks transaction and CCTV, the police deducted that the swollen face was caused by a plastic surgery and not assaults, something that Sarumpaet had admitted.

The opposition then launch damage control, distancing itself from Sarumpaet with several key politicians were forced to make public apology for roles in spreading false accusations.

The ruling coalition is now in an offensive mode, filing police reports to several key opposition politicians, including Fadli Zon, who is one of Subianto’s right-hand man.

Meanwhile, President Joko Widodo made another visit to Palu, which was devastated from earthquake and tsunami on Friday afternoon. During the visit, Widodo admitted that there’s some security issues in the disaster-struck area after series of looting incidents were reported.

The disaster mitigation agency said the latest death count from the disaster now reached 1,407 people.

Meanwhile, the financial market was under pressure due to the Federal Reserve Chair Jerome Powell’s remarks that the US economy has “remarkably positive outlook”.

The rupiah continued its slump, weakening to 15,088 per US$1 from 14,988 per US$1. The Jakarta Composite Index fell 0.1 per cent to 5,868 with foreign investors net sold stocks worth Rp242.3 billion.

The government will certainly hope that the rupiah can find supports from companies like PT Adaro Energy Tbk (IDX:ADRO), which has pledged to convert its US$1.7 billion exports earnings into the local currency.

Good news come from PT Bank Muamalat Indonesia, Indonesia’s first Islamic bank. The lender has finally found investors to strengthen its capital, planning to raise Rp2 trillion via rights issue.

Furthermore, the Finance Ministry’s Directorate General for Taxation announced that the amount of tax collection reached Rp900.8 trillion in the first nine months of 2018, around 63.3 per cent of the full year target. Robert Pakpahan, the director general for taxation, said the amount of tax collection may hit 95 percent of target by the end of 2018.

Japanese car maker Mitsubishi Motors Corp., announced an investment plan of Rp540 billion (US$37.24 million) to expand its factory in Bekasi, West Java to produce more Xpander SUV. Currently, the factory has a capacity to produce 160,000 units of Xpander which will be increased to 220,000 units by 2020.

US$1: Rp14,500

May you have a profitable day.

Written by TIS Intelligence Team

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