Juda Agung resigned, President proposed three candidates to replace BI Deputy Governor

MACROECONOMY 
Juda Agung resigned, President proposed three candidates to replace BI Deputy Governor 
Bank Indonesia (BI) Deputy Governor Juda Agung has officially resigned from his position, prompting President Prabowo to propose three replacement candidates to be submitted to the House of Representatives (DPR) for selection and a fit and proper test. According to State Secretary Prasetyo Hadi, one of the names proposed is Deputy Minister of Finance Thomas Djiwandono. Juda was previously appointed as BI Deputy Governor in January 2022 with a term until 2027, after serving as Assistant Governor for financial system stability and previously holding the position of Executive Director at the IMF. (Bloomberg Technoz) 

China GDP Growth Slowed to 4.5% YoY in 4Q25 
China’s economy grew 4.5% YoY in 4Q25 (vs 3Q25; 4.8%), marking the slowest quarterly expansion in three years amid weak retail sales momentum, a prolonged property downturn, and persistent deflationary pressures, despite ongoing consumer subsidies. Retail sales growth in Dec-25 hit a three-year low, while the unemployment rate remained stable at 5.1% and industrial output growth accelerated, providing partial offsets. On a full-year basis, GDP growth reached 5.0% in 2025, in line with Beijing’s target and unchanged from 2024, supported by a record trade surplus as strong exports to non-U.S. markets mitigated tariff pressures and softer fixed investment. (Trading Economics) 

COMPANY 
Darma Henwa (DEWA) Secured Life-of-Mine Contract Extension, Continued Share Buyback 
DEWA signed a life-of-mine contract extension with PT Arutmin Indonesia on 19-Jan-26 for Asam Asam and Kintap projects, with estimated contract value of around IDR 10.5 tn covering 252 mn bcm overburden and 50 mn tons coal, providing long-term operational visibility and earnings support. In parallel, DEWA continued its share buyback, acquiring cumulative 867.03 mn shares as of 19-Jan-26 with total funds used IDR 480.0 bn from allocated IDR 950.0 bn, leaving remaining buyback budget of around IDR 470.0 bn. (Company)