Nadiem Makarim
The unfolding legal troubles surrounding Nadiem Makarim mark a pivotal moment for Indonesia’s reform-era governance narrative, particularly at the intersection of public sector digitalisation and accountability.
As a former tech founder-turned-minister, Makarim symbolised a new generation of leadership — data-driven, innovation-oriented, and closely aligned with global technology platforms. That symbolism now sits uncomfortably against allegations tied to major technology procurements during his tenure.
The Chromebook and Google Cloud cases, while legally distinct, point to a broader structural issue: how governments adopt large-scale digital solutions without robust safeguards, transparent procurement processes, and clear separation between policy intent and vendor influence. Digital transformation in education was both urgent and necessary during the pandemic years, but speed cannot substitute for governance discipline.
Equally important is the institutional dynamic on display. The coordination — and tension — between KPK (the corruption eradication commission) and the Attorney General’s Office reflects Indonesia’s ongoing recalibration of anti-corruption enforcement. The decision not to merge the Chromebook and Google Cloud cases underscores the complexity of prosecuting technology procurement, where overlapping timelines, decision-makers, and vendors blur conventional investigative boundaries.
For Indonesia, the stakes extend beyond one individual. This case will shape public trust in education reform, government-tech partnerships, and the credibility of digital procurement going forward. If anything, it reinforces a hard lesson: technological ambition in the public sector must be matched by equally sophisticated oversight, or reform risks being undermined by the very systems meant to modernise it.
REGIONAL
Gojek founder Nadiem Makarim also probed in Google Cloud graft case: The former education minister of Indonesia is suspected to be involved in a case linked to the procurement of Google Cloud services between 2020 and 2022.
Superbank IPO attracts over 1M orders, oversubscribed 318x: The Indonesian digital bank set its IPO price at US$0.04 per share, within its initial range of US$0.03 to US$0.04. It is offering up to 4.4B new shares, equal to 13% of its enlarged capital.
VinFast plans to raise investment up to US$1B in Indonesia: The company recently opened its first plant in Subang, West Java, with an initial production capacity of 50,000 cars a year. VinFast has invested US$300B in Indonesia so far and expects the new plant to reach full capacity in Q1 2026.
January Capital raises over US$130M to bring growth credit to Asia’s tech sector: The new fund provides senior secured loans to growth-stage tech firms seeking scale without dilution in an underdeveloped regional credit market.
Malaysian investment firm Halogen Capital raises US$3.2m funding: Investors include Kenanga Investment Bank, 500 Global, Digital Currency Group, and The Hive. The company will use the money to expand its tokenisation of real-world assets such as unit trust funds, bonds, sukuk, private credit, and real estate.
Turn Capital bets on influencer-driven fashion with FRND acquisition: The operator-led investor acquires Taiwan-based FRND to scale creator-led fashion brands, deepen community commerce, and expand its consumer technology footprint across Asia.
Malaysia to regulate major social media platforms from 2026: Services such as Instagram, Facebook, WhatsApp, TikTok, YouTube, and Telegram will be automatically registered as licensees under the Communications and Multimedia Act 1998, according to the Malaysian Communications and Multimedia Commission.
StraitsX to launch XSGD, XUSD stablecoins on Solana in 2026: The integration is aimed at enabling real-time SGD and USD settlement on Solana, which is known for low-cost and fast transactions. StraitsX said its stablecoins have processed over US$18B in on-chain volume across multiple blockchains.
REPORTS, FEATURES & INTERVIEWS
AI-ready but not AI-proof: The skills gap Southeast Asia must close: The region is rapidly adopting AI, but lasting growth depends on closing skills gaps and scaling infrastructure beyond pilot-led experimentation.
AI is already in Asia’s legal sector — The question is who’s falling behind: AI adoption is surging across Asia’s legal sector, forcing firms to rethink skills, business models, and trust in rapidly evolving legal tech.
From search to suggestion: How AI is rewiring SEA’s path to purchase: AI-driven discovery is replacing linear search in Southeast Asia, reshaping how consumers explore, engage, and convert across media and commerce.
Web3 gaming evolves: Prioritising fun over blockchain hype in 2026: Mainstream adoption of Web3 gaming lags due to persistent hurdles. Many projects still struggle with onboarding, user experience, and scepticism.
Top 27 contributors of 2025: Voices that defined the year: These voices helped make 2025 smarter, clearer, and more connected. They challenged assumptions, shared practical lessons, and gave the ecosystem frameworks to act on.
INTERNATIONAL
Musk’s net worth hits US$600B as SpaceX prepares for IPO: Musk’s fortune rose after SpaceX, his rocket company, launched a tender offer that valued the firm at US$800B, up from US$400B in August.
Forbes estimates Musk owns 42% of SpaceX, making his stake in the company worth about US$336B.
South Korea to implement AI law in January 2026: The AI framework act includes the formation of a national AI committee, a three-year plan, and mandates on safety, transparency, and disclosure for certain AI systems.
Animoca Brands to take stake in Chinese investment platform’s unit: Animoca intends to acquire up to a 15% equity stake in GROW Investment Group’s unit GROW Asset Management (HK) Limited. It aims to offer both cryptocurrency and traditional finance investment products to family offices and UHNIs in Asia.
ByteDance tops China’s tech hiring as AI jobs surge, says report: The company, which owns TikTok, recorded a hiring index of 897, outpacing Meituan at 587, and Alibaba at 407. AI-related job postings across China jumped 543% year-on-year.
OpenAI communications chief to step down in January: Hannah Wong joined the AI firm in 2021 and took on the chief communications officer role in August 2024. During her tenure, she led OpenAI’s communications team through a period of rapid growth and the company’s internal leadership crisis in 2023.
SEC chair warns crypto could become financial surveillance tool: Paul Atkins said blockchains are effective at linking transactions to individuals, raising concerns about government overreach. He also said it is possible to balance national security needs with individual privacy.
SEMICONDUCTOR
South Korea to invest over US$20B in AI, chips in 2026: The fund is part of a US$102B initiative, one of President Lee Jae Myung’s key economic pledges, aimed at accelerating AI adoption and supporting key industries like chips, secondary batteries, and biotechnology over five years.
Nvidia acquires US AI software provider SchedMD: SchedMD’s Slurm software is used to schedule and manage large-scale computing jobs, and is widely adopted by researchers and companies working with high-performance computing and AI.
Intel said to in US$1.6B talks to buy US AI chip startup SambaNova: SambaNova, founded in 2017 by Stanford professors, designs custom AI chips and was valued at US$5B in a 2021 funding round. Intel CEO Lip-Bu Tan is also chairman of SambaNova, and his venture firm Walden International was an early investor.
Global chipmaker STMicro ships 5B chips to Starlink: The Geneva-based chipmaker supplies specialised chips designed to withstand the demands of space, supporting Starlink’s user terminals across more than 150 markets.
AI
For Singapore, the real AI race is institutional, not just technological: The AI race isn’t just US versus China; adaptive states like Singapore can shape AI power by renewing state–enterprise compacts, scaling national champions, and broadening AI fluency.
AI fluency or disaster: Decide before it decides for you: Deloitte’s fabricated-citation scandals show AI didn’t fail; human processes did—organisations defaulted to automation without AI fluency, judgement, verification, and accountability, turning powerful tools into costly liabilities for high-stakes public work.
AI’s reality check: Why 95% of pilots fail and how to measure what actually matters: AI delivers real value only when embedded into existing workflows, measured through clear operational ROI, and supported by trust and governance.
Is AI replacing digital marketing agencies or just exposing the ones that needed to grow up?: AI automates marketing execution, forcing agencies to shift toward strategic judgement, cultural insight and creative direction.
THOUGHT LEADERSHIP
SEA Founders, take note: Nvidia’s ecosystem strategy is your 2026 survival guide: Nvidia’s ecosystem strategy powers its AI computing lead and offers lessons Southeast Asian startups can use to scale globally.
Quiet confidence vs loud branding: What actually works in Asia?: In Asia, especially in markets with deeply ingrained local players and government dynamics, loudness alone doesn’t guarantee longevity. If you’re going loud, you’d better have the product and operations to back it up.
Why Bitcoin’s correlation with gold just hit a record high: Asian markets are retreating as AI-fuelled tech optimism fades, investors rotate to gold, and crypto shows hidden fragility—thin liquidity, weakening sentiment, and deleveraging leave Bitcoin stable-looking but increasingly brittle.
From CFO to founder: How I built a US$200M company by turning entrepreneurs into co-investors: A founder-stakeholder model shows how empowering entrepreneurial leaders can turn acquisitions into enduring, people-driven growth.
The age gap in startups: Why Southeast Asia needs both 22- year-old hackers and 40-year-old operators: The region often treats generations separately, yet the strongest companies emerge when youthful momentum meets lived experience.
Emerging sleeping giant: Why global investors can’t afford to overlook Bangladesh: The country is emerging as a compelling, underpriced investment market, driven by strong economic growth, rapid digital adoption, demographic dividends, and disciplined, mission-driven founders building sustainable startups.
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