Govt. Allocated IDR 2.6 tn in Interest Subsidies for PNM Mekaar Ultra-Micro Loans
The govt. allocated approximately IDR 2.6 tn in state budget funds to subsidize interest payments on ultra-micro loans under PNM Mekaar through Dec-26. The program permanently reduced the loan interest rate to 8% from as high as 24%, with the government covering the difference. The implementation is targeted to begin in the second week of Nov-26, following a pilot involving approximately 2,000 borrowers and completion of administrative agreements between the Ministry of MSMEs and PNM. The govt. will reassess the allocation based on the number of borrowers covered during the remaining two months of 2026. (Bloomberg Technoz)

Indonesia Recorded Sep-26 Trade Surplus of USD 3.36 bn, Above Market Expectations
Indonesia recorded a trade surplus of USD 3.36 bn in Sep-26, exceeding market expectations of USD 1.90 bn, although narrowing from USD 4.34 bn in Sep-25. Exports grew 11.87% YoY, accelerating from 6.72% in August, driven by a 12.39% increase in non-oil and gas exports to USD 26.64 bn. Meanwhile, oil and gas exports declined 0.99% to USD 0.95 bn, primarily due to lower crude oil exports. Imports increased 18.41% YoY, slowing from 20.83% in August, with oil and gas imports rising 23.94% to USD 3.27 bn and non-oil and gas imports growing 17.59% to USD 20.97 bn. Cumulatively, Indonesia recorded a trade surplus of USD 10.61 bn in 9M26, with exports and imports increasing 5.58% and 19.67% YoY, respectively. (Trading Economics)

Bayan Resources (BYAN) Scheduled EGM to Approve Board Changes Following Jhonlin’s 30.25% Acquisition
BYAN scheduled an Extraordinary General Meeting (EGM) for 23 Nov-26 to seek shareholder approval for changes to its Board of Directors and Board of Commissioners, following PT Jhonlin Baratama’s acquisition of a 30.25% stake in the co. Jhonlin Baratama, controlled by businessman Andi Syamsuddin Arsyad (Haji Isam), acquired 10.08 bn shares from Low Tuck Kwong and Elaine Low through a conditional share purchase agreement on 8 Oct-26 at IDR 2,588/sh, representing a total transaction value of approximately IDR 26.10 tn. BYAN has not disclosed the names of the proposed incoming or outgoing board members, with the appointments and replacements subject to shareholder approval at the EGM. (Emitennews)

Merdeka Gold Resources (EMAS) Recorded 3Q26 Gold Production Growth of 69% QoQ to 26,331 oz
EMAS recorded 3Q26 gold production of 26,331 oz, up 69% QoQ, supported by the ramp-up of heap-leach operations at the Pani Gold Mine in Gorontalo. September production reached 10,952 oz, up 12% MoM, while the first two weeks of October contributed another 6,190 oz, implying an annualised production rate of approximately 149,000 oz. Cash cost declined 13% QoQ to USD 778/oz, while all-in sustaining cost (AISC) decreased 12% to USD 1,281/oz. The co. targets combined gold production of more than 250,000 oz in 2026–2027. Meanwhile, Phase I of the Carbon-in-Leach (CIL) facility has entered construction, with commissioning targeted for 2028 and processing capacity of up to 14.4 mn tonnes per annum. EMAS is also preparing Phase II, with combined annual gold production capacity from both CIL facilities targeted at 500,000–700,000 oz. (Emitennews)

Riset BCA Vista

Govt. Allocated IDR 2.6 tn in Interest Subsidies for PNM Mekaar Ultra-Micro Loans

Indonesia Recorded IDR 58.75 tn in Digital Economy Tax Revenue as of Sep-26

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