MACROECONOMY
Indonesia’s FY25 Budget Deficit Nearly Reached 3% of GDP
Indonesia’s FY25 state budget deficit reached IDR 695.1tn, equivalent to 2.92% of GDP, nearing the 3% statutory limit but remaining acceptable to support economic growth. The deficit widened slightly from 2.3% of GDP in FY24. The Govt. expects the economy to grow in line with the 5.2% YoY target in FY25, with 4Q25 growth projected at 5.45% YoY. State revenue realization reached IDR 2,756.3 tn (91.7% of target), comprising tax revenue of IDR 1,917.6 tn, customs and excise of IDR 300.3 bn, and non-tax revenue (PNBP) of IDR 534.1 tn. Going forward, the Govt. will focus on boosting state revenue to help narrow the deficit. (CNBC)

INDUSTRY
ESDM Minister Said Indonesia Would Cut Coal and Nickel Output in 2026 to Support Prices Energy and Mineral Resources Minister Bahlil Lahadalia said Indonesia would reduce coal and nickel production in 2026 to help stabilize global prices and preserve resources. Coal output is estimated at 600mn tons in 2026 (vs. 790mn tons in 2025), marking a clear production cut. Meanwhile, nickel output will be adjusted to domestic industrial demand, although no specific volume target was disclosed. Bahlil also emphasized fair downstreaming, requiring large smelters to source nickel ore from domestic miners to avoid monopolistic practices and strengthen regional mining companies, while maintaining environmental sustainability. (CNBC)

COMPANY
Chandra Daya Investasi (CDIA) Distributed IDR 1.34/sh Interim Dividend
CDIA announced an interim dividend for FY25 of IDR 1.34/sh, sourced from 1H25 attributable net profit (Div. yield: 0.08%) marking its first interim dividend since listing in Jul-25. The dividend is based on 1H25 net profit of USD 67.84 mn, supported by retained earnings of USD 78.4 mn. The schedule is as follows:
- Cum Dividend (Regular & Negotiation Market): 09-Jan-26
- Ex Dividend (Regular & Negotiation Market): 10-Jan-26
- Cum Dividend (Cash Market): 13-Jan-26
- Ex Dividend (Cash Market): 14-Jan-26
- Recording Date: 13-Jan-26
- Payment Date: 29-Jan-26
(Bisnis.com)

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