Algo Research

🇮🇩 Indonesian President Prabowo's announcement to cut ride-hailing platform commissions comes at a bad time for $GOTO, which has just turned profitable in 1Q26 on the back of improving on-demand service (i.e. ride-hailing) segment. Based on the latest financial, GOTO's take rates for mobility and delivery in 1Q26 stood at 14% and 24%, respectively. The regulation could potentially decrease net revenue in ODS segment by around 50%-60%, depending on the final decision by the government.

In this Interactive, we explore Indonesia's #minerals industry, post the nickel boom. Aluminum now sits at the center of this national industrial strategy, at a time when global aluminum is facing mounting uncertainties amid war in the #MiddleEast. 🔗okt.to/CnwdfP

JUST IN: Indonesia is moving to cut ride-hailing platform commissions. President Prabowo said drivers should get at least 92% of revenue, compared with the current 80%, implying platform cuts could drop from around 20% to below 10%. Separately, the President said the government has signed Perpres No. 27/2026 on online transport worker protection. The ride-hailing business model may be about to change significantly. #KadoDariPresiden

BREAKING: #IHSG closed at 6,956, down -2.03% today to reach the lowest level since 9th July 2025. 📉 This marks 4 consecutive months of decline🔻, with April 2026 performance down -1.3% MoM led by both conglomerate and fundamental stocks. Selling pressure has intensified recently on the back of weakening currency (IDR), softening macro outlook amid rising oil prices, and tightening fiscal capacity as market is watching closely if the 3% budget deficit will be breached this year. 📊 #saham #Indonesia

Indonesian #Rupiah 🇮🇩 weakness is getting embarrassing, hitting an all-time low of 17,368 vs. USD! In the past one year, the Indonesian #Rupiah has lost -9.6% against Zimbabwe Gold (ZIG), -6.6% against Yemeni Rial (YER), and -17.7% against Nigerian Naira. 📉 Let that sink in. 🚨

It's not just oil, UK yields, etc... In fact, the pace is starting to feel a little relentless as markets blow through what I regard as various "pay attention" levels. This includes the breach of 160 ¥/$ (CNBC chart below). Here, it's no longer a question of if the market is testing policymakers, but how much more they’re willing to tolerate. #economy #markets #japan #yen

Read our latest research on $BBCA here: algoresearch.id/content/2026/0…

$BBCA saw significant net foreign outflows of around IDR 47 trillion in the past one year on the back of weakening earnings growth, global index rebalancing and higher country-risk premium in Indonesia.

A reminder ... This is what Strait of Hormuz traffic looked like the day before the war started (February 27). Now compare it to the repost below. @mercoglianos @johnkonrad

Breaking news: The United Arab Emirates has said it is leaving Opec, dealing a significant blow to the oil cartel and its de facto leader Saudi Arabia ft.trib.al/08BCZA3

Indonesia's equity market is the worst performing among comparable major peers this year.

Malaysia is crowned as the hottest IPO market in ASEAN right now while Indonesia is losing the heat.

JUST IN: Indonesia's Reserve Component Program (Komcad) is now reportedly being rolled out voluntarily to employees of state-owned enterprises (BUMN), after involving more than 1,700 civil servants (ASN) in 2026. Is Indonesia redefining civil-military boundaries?

This marks the worst decline since 2008, which begs the question 🤔 whether it comes from company-specific factors or higher country risk for Indonesia? 🇮🇩

What's going on with #BBCA? 💸 Once perceived as the safest and highest quality banking stock in Indonesia, BBCA has significantly underperformed from its all-time high of IDR 10,950/share in 4Q24 to now trades at IDR 5,975/share, down around -45%. 📉