RiaKy ho &Advisor

@NaveenKumar2383 @rickyho_1989 I POST ALL TRADES FOR FREE

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Bloomberg’s latest report captures what may be the most important shift taking place in Indonesia today: the relationship between the state and private capital is changing. For decades, Indonesia’s economic model rested on an implicit understanding. Businesses invested, created jobs, and accumulated capital. In return, the government provided a relatively predictable operating environment. That arrangement survived political transitions, financial crises, and multiple administrations. The concern today is not simply that taxes are rising or that wealthy individuals are being asked to contribute more. Governments everywhere have the right to raise revenue and pursue redistribution. The issue is whether investors perceive the rules of the game as becoming less predictable. According to the report, several developments are contributing to that perception: pressure to subscribe to low-yield “patriot bonds,” discussions around a wealth tax, broader asset forfeiture powers, tax investigations targeting high-net-worth individuals, and increasingly confrontational rhetoric toward Indonesia’s business elite. Whether each individual measure is justified is almost secondary. What ultimately matters is how the investment community interprets the cumulative direction of policy. Capital is remarkably sensitive to confidence. Once investors begin questioning property rights, policy consistency, or the security of accumulated wealth, capital outflows can accelerate long before any formal legislation is enacted. Indonesia’s recent market performance reflects that reality. The rupiah remains under pressure, equities have significantly underperformed regional peers, foreign investors continue to reduce exposure, and sovereign credit outlooks have already been revised to negative by Moody’s and Fitch. Indonesia faces a structural constraint that differentiates it from countries such as China or Saudi Arabia. It operates an open capital account, relies on foreign portfolio inflows to finance fiscal deficits, and has a freely floating currency. That means confidence is not an abstract concept. It directly influences exchange rates, government borrowing costs, domestic liquidity, and ultimately economic growth. Perhaps the greatest risk is not the immediate outflow of capital but the reduction in future investment. Businesses can tolerate higher taxes if the rules are stable. They struggle when future policy becomes difficult to predict. Long-term investment decisions depend on confidence that today’s rules will broadly resemble tomorrow’s. The irony is that attracting private capital and encouraging entrepreneurship are essential if Indonesia wants to achieve its long-term growth ambitions. Sustainable economic development requires both an effective state and a confident private sector. If either side loses trust in the other, growth becomes increasingly difficult to sustain. The ultimate question is therefore not whether Indonesia should ask more from its wealthiest citizens. The question is whether it can do so while preserving the confidence that has historically made private investment possible.

@NaveenKumar2383 @rickyho_1989 I POST ALL TRADES FOR FREE

@pulpenduculal @rickyho_1989 Many of my followers have already joined our WhatsApp group.! Get free real-time trading alerts, investment strategies, and market forecast analysis. Join the group 👇 ➡️ Send “Join” to this WhatsApp number +13185709252 WhatsApp link👉🔗api.whatsapp.com/send?phone=131…

@NaveenKumar2383 @rickyho_1989 I POST ALL TRADES FOR FREE

@pulpenduculal @rickyho_1989 Many of my followers have already joined our WhatsApp group.! Get free real-time trading alerts, investment strategies, and market forecast analysis. Join the group 👇 ➡️ Send “Join” to this WhatsApp number +13185709252 WhatsApp link👉🔗api.whatsapp.com/send?phone=131…

[Had an inspiring workshop on digital marketing today! Learned actionable skills to boost brand engagement from industry experts. Grateful for the chance to connect with fellow learners—can’t wait to apply what I’ve picked up! #MarketingGrowth #ProfessionalDevelopment]，

Just aced my first parallel parking test without hitting the curb! 3 hours of nervous practice paid off—one step closer to my driver’s license!

I aced my professional certification exam! All that late-night study sessions paid off—can’t wait to take the next step in my career!

Our photography club’s weekend outing to the city botanical garden was a blast! Captured stunning blooms and tiny wild creatures, shared tons of shooting tips with new members. Next session: park sunset shoot this Saturday—sign up via club link!

Tired of cluttering your space Sorting old stuff this weekend to make room for new joys! What’s your most kept old item

Just had a warm coffee and a long walk alone – feeling super calm and grateful for these tiny, nice moments today.

Cozy Sunday vibes at home—fresh coffee, soft blanket, and a good book make the perfect slow day.

[Our Tech Club Workshop is this Friday at 4 PM! Learn basic coding and build your first mini website—all levels welcome. Grab a friend and sign up at the club booth near the canteen! ]，

Just nailed my first homemade sourdough loaf! The crust’s crunchy, the crumb’s airy, and all the patience paid off—baking’s the best sweet (and tangy) therapy! #HomeBakeWin

[My fur baby grew 2 sizes in 3 months! Now his tiny bed’s a toy box. Growth hits different when you love every messy milestone. #PetGrowth #DogLife]

My rescue pup, Lila, turns my mundane workdays into cuddle-filled joy—best companion I could’ve ever asked for. #DogLove

Prioritize 7-8 hours of sleep daily u0026 sip water regularly—small daily wins = big long-term health gains.

Just wrapped up an epic script-based murder mystery game! The plot twists, character acting, and group banter made this weekend so much fun—10/10, will play again!

Our campus photography club is hosting a free sunset photo walk this Friday by the lake! Bring your cameras, meet new friends, and snap the beautiful evening scenery—all skill levels are welcome!