Transcription
Guys, this is really scary, Guys. There are groups in Indonesia that are specifically driven to destroy the Indonesian economy. Friends know, our economy is consumption-based, you know. But right now, the phenomenon is very strange. Because many people say, "Yeah, the Indonesian economy is fine, Bro. Getting richer. The proof is that many malls are crowded after the pandemic. After the election, many people are even convinced that mall visits will increase by 20%. Especially yesterday there was Ramadan and so on. So, if everything went smoothly, everyone should be happy. But the fact today is that many mall entrepreneurs are crying. Why are they crying? Because there are suspects who are so cruel in destroying retail businesses in Indonesia. Yes, these are the Rojali people, or the rarely buy groups. So, if you're curious about how Rojali's strategy is in destroying our economy, don't skip this video. Let's check this out. So, Friends, before we discuss more specifically about the mall business, we used to discuss the destruction of the cigarette business. And friends have seen it, many cigarette companies have proven my predictions to be true, especially those related to Gudang Garam and Sampurna, they are getting worse. One of the ringleaders is also because of this Rojali, the rarely buy cigarettes. This is truly hellish, guys. They are truly destroying many businesses in Indonesia. And now our main suspect, Rojali, is expanding, guys. Yesterday, after bankrupting cigarette factories. Now Rojali wants to bankrupt mall entrepreneurs. Why? Because the momentum is good, the turmoil related to government policies, the turmoil related to the world economy, maybe also because of Donald Trump motivating Rojali to cause destruction everywhere. But one thing that is a fact is, regardless of people saying, "Oh, the Indonesian economy is getting better, getting better, skyrocketing." Yes, the facts show, especially for real business players, it turns out to be terrifying. For example, you can see on the screen that Matahari just closed two stores in a month. Then yesterday, fresh from the oven, Transmart in Indonesia only has 18 stores left, even the one in Bogor has changed like Power Rangers. Transmart became Great Mall. I thought only Power Rangers could change form. Turns out Transmart can also change, Guys. Then we see again, the richest person in Indonesia has a range market business, stores for expensive groceries, that's losing money. So it's not surprising that seven range market stores, retail stores owned by the richest person in the Republic of Indonesia have officially closed. And the latest, as we said yesterday, many Korean entrepreneurs are being taken advantage of in Indonesia, not just Hyundai. Anyway, there is a retail entrepreneur specifically selling groceries called GS. GS Retail, GS The Fresh, GS Supermarket, they have also officially closed. So GS Supermarket, Lulu Hypermarket have also officially closed. How can all these real business entrepreneurs close down in unison? Some say, "Well, maybe they closed because the place is empty, Sir. Like an empty tomb." Oh, if that's the case, it's understandable. So now, instead of being full of buyers, it's full of spirits. What are spirits? The groups just touch. They don't buy, they just come to touch. I'm confused too. Their hobby is strange, a hobby of touching. But anyway, yes, the fact is because the market never lies. On the screen, you can see that MAP Mitra Perkasa's stock to date is minus 14%. Then there's also Aspirasi Hidup Indonesia. Anyway, yes, it's minus 36%. Then there's also DFI Retail Nusantara, it's minus 24%. So for friends who underestimate the Rojali phenomenon, Rojali is indeed a very famous suspect. For years, I've been saying be careful of people who like to smoke for free. Those who rarely buy cigarettes. They are definitely enemies of Sumitro. You know, the one who likes to ask for cigarettes. One rarely buys cigarettes, the other likes to ask for cigarettes. They fight. The point is, the relationship between these two people is romantic. Free cigarettes, sad. They succeeded in making many Indonesian cigarette entrepreneurs panic, go bankrupt, and their stocks go negative for free. That's why you shouldn't be surprised that for years I've been saying Sampurna's stock price would fall below 900. Today it has become a reality. But, well, that's the cigarette business in Indonesia. Now we want to talk about Rojali's new target. Rojali has succeeded in destroying cigarette entrepreneurs. Now Rojali wants to destroy retail entrepreneurs, mall entrepreneurs. The main question, why are many retailers going bankrupt? Even though they say the data shows malls are crowded and visited more. What phenomenon is actually happening, Guys? So, if you're curious, guys, don't skip this video because there are eight reasons why many modern mall retail entrepreneurs are going bankrupt. And if you can take advantage of this opportunity, of course, you can make big profits from this business. So, guys, there are eight reasons why real business entrepreneurs, mall entrepreneurs in Indonesia are getting worse. The first reason, when visits to shopping centers, malls, shopping centers increase, but why are many going bankrupt? It turns out the first reason is weakening purchasing power. Now, friends know that data shows an increase in visitors actually occurred in 2025. So, annually, visitors have increased by 10%. It is even estimated that by the end of the year, mall visitors can increase again by 20 to 30%. But unfortunately, this does not mean that transactions also increase because it turns out that purchasing power has actually decreased, especially for the middle class. Because their purchasing power decreases, the money they hold becomes less. But they still want to go to the mall, window shop, enjoy the cool air conditioning, so they keep coming to shopping centers like your favorite malls. That's why, according to data from the Indonesian Shopping Center Association or APPBI, it states that the number of visits to shopping centers has increased, but the shopping pattern has changed because they no longer want to shop at malls. And this decline in purchasing power is actually reflected, Guys, from the decrease in core inflation in Indonesia. Remember, Guys. In Indonesia, there are three types of general inflation. So, generally, inflation in Indonesia is divided into three. The first is inflation from administered prices. So, inflation due to government factors increasing prices that can be adjusted by the government. For example, an increase in fuel prices. As soon as the government adjusts fuel prices upwards, inflation will also increase. When toll prices are increased, electricity prices are increased, everything will definitely increase. So, administered prices are inflation that is indeed set by the government. Then, the second is inflation from volatile food. So, friends, if you see the prices of onions, rice, food going up or down, it's because the prices of basic necessities are recorded as volatile food inflation. Now, what's important? What's important is the third inflation. The third is core inflation. Now, this is what we want to discuss. Because core inflation is a reflection of actual demand. When core inflation rises, it means there is an increase in demand, it's just supply and demand law. But when core inflation falls, it means no one wants to shop, demand decreases. And this factually happens because based on the data we have, the decrease in general inflation has actually increased. In June it was 1.87%. But in July it increased to 2.37%. So, generally, general inflation has increased from 1.8 something percent. But when we discuss core inflation, core inflation actually did not increase, Guys. Because the fact is, core inflation in June was 2.37%. But in July, core inflation actually decreased to 2.32%. And this trend has been continuously decreasing because in April, core inflation was actually 2.5%. Now, core inflation is important for us to see because what? It reflects demand. So, if inflation in volatile food continues to rise, friends, you are witnessing that the prices of food in Indonesia keep increasing, keep increasing, keep increasing. Inflation is indeed happening. True. But overall, if we look at core inflation, it is actually decreasing. This means there is a reduction in purchases. Wow, interesting. Because this sends a danger signal, Guys, for Indonesia which aspires to have a GDP economic growth of 8%. Now, friends know that GDP has four factors. The first is consumption, the second is investment, the third is government spending, and the last is exports, which must be greater than imports if we want continuous positive growth. Now, where is Indonesia most important among these four components of economic growth? It turns out the largest component is number one, consumption. Data shows that in 2024, consumption contributed 54% to GDP growth. That's why if friends say Indonesia's economic growth is consumption-based, is that true? Absolutely true. Because 54% of Indonesia's economic growth is contributed by consumption, especially household consumption. Wow. Which means if households reduce their consumption, if households join Rojali, our economy will not go to the moon at 8%, but can even be below 5%. Now, this is what we see and observe that this can be a danger signal for Rojali. and spirits and souls join into one. The rarely buy groups will have an even greater impact on Indonesia's economic growth. So, that's the first reason, guys, why there are more Rojali, the rarely buy groups, because purchasing power has indeed decreased. Proven by the continuous decrease in core inflation, which is an important component of Indonesia's economic growth. Now, what's the second? The second is a change in shopping patterns, Guys. I've said this repeatedly. Users, customers are moving. They used to like shopping offline, but now more and more consumers are shopping online. For example, we used to buy office supplies by physically going to see the chairs, tables, and so on. Now, even to buy office supplies, we do it online, everything is online. Buy laptops online, buy tables online, buy clothes online, buy hats online. What do we buy offline? Maybe vehicles, which are still offline. Now, even buying electricity is online, Guys. Buying phone credit is also online. Do you still remember the old days when we had to go to a kiosk on the side of the road to buy phone credit? There was that problem. It turns out now everything is online, and this is proven by data because you can see on the screen, the facts show that since 2019, the growth of e-commerce transactions in Indonesia has continued to rise sharply. In 2019, online transactions were only 205 trillion, but in 2024, it has grown more than double to 487 trillion. So, this proves why many malls are empty. Because of spirits, maybe. But if a mall is crowded but has few transactions, why? Because people come just to look and will buy it later on e-commerce, proven by data. Now, what's the third data point? We are talking about data from Bank Sentral Asia, Bank BCA, the largest private bank in Indonesia. So, yesterday they just released data showing a trend of decreasing public spending up to the second quarter of 2025. Now, this proves, because fewer people are shopping, this proves that more Indonesian citizens are joining the Rojali members. Now, according to BCA, the weakening of people's purchasing power makes people who come to shopping places just to stroll. They don't buy anything. Even if they shop, they will choose things that are not expensive. Now, interesting. This means that many people who go to malls, according to Bank BCA data, are actually just window shopping. This means there is a change in lifestyle, Guys. Now, here we are talking about lifestyle because it turns out that lifestyle continues to change. In the past, it was trending when people were asked, "What sport do you play?" Karate, what sport do you play? Taekwondo. But more and more people are breaking their legs. So they rethink, "What sport should I play?" People upgrade from martial arts to pedal sports today because they can't break their legs, can't break their arms. The only thing that happens is stress because it turns out to be difficult, just like playing tennis is difficult, Bro. Anyway, lifestyle changes, Guys. So, lifestyle changes. Credit card usage data also shows changes. In the past, many people used credit cards to shop at malls, buy clothes, buy bags, and so on. But currently, data shows people go to malls just to hang out. Even if they look, the transactions are for food and beverages. That's why friends will see that there is a trend change when the purchase of retail goods decreases. Purchases of groceries, appliances, shoes, clothes, accessories, jewelry have decreased. It turns out that in the same mall, there has been an increase specifically for one segment called FNB, food and beverage. That's why friends shouldn't be surprised if many coffee shops are getting busier, cafes are getting busier. Because the data shows that when everything is down, FNB sales actually increase by up to 10%. So, here we are learning a new pattern, a trend change is happening in society. Now, this opportunity, for example, many have taken it. If mall entrepreneurs are agile, they immediately change the mall. Previously, the concept was like ITC or the concept was like a general shopping center, now it has been changed to a concept. Good news, Guys. For you stock investors who want to join Benix Investor Group, we now have a special discount of 17% for the first 17 people who register before August 17, 2025. So, you get a big discount. Previously, it was Rp50 million for a year, now it's only around Rp1 million. So, what are you waiting for? Register yourself now. Because only at Benix Investor Group can you come and investigate directly with Benix. It's called Big Investigation. Like Benix's investigation into palm oil companies in Bangka Belitung, companies in Sumatra, companies in Kalimantan, in Sulawesi, you can get direct access to meet the company directors, chat with the company management, even see the company's operations directly. Remember, investment is real. Don't end up with fake investments. That's called buying a pig in a poke. That's why it's important for you to join Big Investigation. Not only that, Guys. We also have what's called Big Gathering. So, this is just hanging out and chatting casually. We always organize casual chats with Benix. There are in Singapore, in Jakarta, in Semarang, in Jogja, in Bali, everywhere. Friends can join to chat directly about your investments. For friends who cannot attend physically, we also have online meetings. So, three times a month, every weekend live directly with Benix, you can ask questions directly about your investment journey. We also have sharing sessions, you can get recordings, educational videos specifically for Benix Investor Group. What's exciting is we have a gala dinner. Next. The gala dinner is on August 29th next month. You must register immediately because we will invite directors from companies with trillions of rupiah in turnover, Guys, to share and chat about their investment strategies amidst Donald Trump's tariff war. Wow, which companies are ready or even not ready? Of course, from every event, there are opportunities we can get. That's why it's very important for you to join the annual Benix gala dinner. The next gala dinner is on August 29, 2025. Okay, guys. Register yourself now. Remember, the 17% discount is only for the first 17 people who register before August 17, 2025. Visit www.benix.id or contact the number below: 08113220886. Let's join and register yourself to be part of the most exciting stock community in Indonesia with Benix Investor Group. Now it's changed to a hangout concept. No longer many clothing vendors, no longer many motorcycle vendors, but many tenants selling food, selling drinks. For example, there's a mall near Semanggi. I don't want to mention the brand, but this mall has changed. Previously known as an empty mall like a graveyard, now it's crowded. It changed its name to Mall Nusantara. It has even become a new icon in Jakarta. I've been there and I was surprised by the transformation there. It has changed so much, and in fact, it has become more crowded. Now, here friends can see that adaptive entrepreneurs see this difficulty, they don't mope and cry in the corner of their room like Shinchan, but they innovate. For example, the mall in Semanggi, guys. Then the fifth reason is interesting because it relates to all of us investors in Indonesia. It turns out that people in Indonesia are getting smarter. They are thinking, instead of buying a new phone, which becomes a used phone worth less in 1 second, it's better to use it for investment. So, there's a lifestyle change, not just in the FNB sector, but also in their spending. They reduce unnecessary spending and now they become selective spenders. The Rojali phenomenon actually brings good news for us investors in the stock exchange. It turns out that upper-middle-class consumers are holding back from buying unnecessary items. Now they are shifting to investment. Does the data show the same thing? Is there proof? Yes, Guys. Because data shows that as of June 2025, the number of investors in the Indonesian capital market continues to show significant growth. Because as of today, at least 17 million people have stock accounts. This has grown 10 times compared to 2018. Now, friends, this is positive news. That's why I've always said, you must become a stock investor. You must become a stock investor. Instead of being a lottery investor, an online gambling investor, or a candlestick investor, forget it. That's not investment, Guys. You are speculating. Remember, you are not a speculator. If you have money, be an investor. Invest in something that is certain. The company's stocks exist, the business is clear. Why are you still like an idiot buying crypto? Your brain is broken. And the data indeed shows, we are grateful that the number of capital market investors is growing while the number of people shopping at malls is decreasing, the number of people buying stocks is increasing. So, this is very good news. That's why you shouldn't be late to become a stock investor. I heard yesterday someone applied, and their parents asked, "Have you become a stock investor yet?" "Not yet, Dad." "Then don't marry my daughter." Hopefully, this proves that Indonesia's future is bright, guys. Remember, the key to economic growth is not just consumption, Guys. Remember there are four. One of them is investment. Investment from abroad and investment from within the country. So, this is very good news, in my opinion. Yes. And this is indeed based on data because earlier we were only talking about investors in the capital market, now we are talking about investors, bank investors, deposit investors, for example. This data also proves it. Why? Because third-party funds, or DPK, people who save in deposits last year in June 2024 were only 8,000 trillion. Remember, only Rp8,700 trillion. Today, one year later, in June 2025, the figure has increased significantly from 8,000 trillion to 9,300 trillion, Guys. So, this is extraordinary. This means more and more people are investing. I'm very happy that fewer people are crazy and foolishly believing in candlesticks and so on, but more people are sane, investing in what's certain. So, this is very good news. And this proves that people are shifting. Not only shifting lifestyles, but also shifting their spending patterns. Previously, they spent carelessly, now they spend on investment. So, this is a very good thing. Now, the sixth. The sixth is the factor of the destruction of the middle class. So, in Indonesia, not only Tyrannosaurus Rex or Raptors are extinct. So, in Indonesia, the middle class is also extinct. Be careful, soon the Indonesian middle class will be on the UNESCO list. Because their numbers are continuously decreasing, Guys. It's crazy. So, this phenomenon is happening in Indonesia, that weak consumption, in my opinion, is also because the middle class is not increasing but decreasing. Now, total consumption in the Republic of Indonesia is trillions of rupiah every year. Now, out of the total spending of trillions of rupiah every year, it turns out that 70% of the people shopping in Indonesia are the middle class. So, if the middle-class population is disappearing and decreasing, it means fewer people are shopping. Because 70% of consumption, remember, Indonesia's GDP growth depends on the consumption sector. It turns out to be supported by the middle class. When the middle class is increasingly disappearing, increasingly rare, it means malls will be emptier, more malls will be empty, Rojali and Rohana, the rarely buy groups. And even worse, this Indonesian middle class is not supported, Guys. Honestly, this is sad. They are already having difficulty finding jobs, layoffs everywhere, they can't even get social assistance because they are middle class. Only those who are struggling, the struggling groups, can get social assistance. It's difficult now if you are middle class. You are squeezed, you can't go down, you can't go up. In the middle, you are continuously squeezed. What's more, people who are already middle class and then become sandwich generation. What does that mean, Sir? Sandwich generation means these are people from the sandwich generation. Do you know what a sandwich is like a burger? They are squeezed from above, pressed from below. From above, they have to help support their parents. From below, they have to support the lives of maybe their children, their neighbors' children too. If there's a mistress above, including their nephews or siblings or cousins, they cannot spend on themselves. And I see this happening a lot with some of my acquaintances. They can no longer move because their money is spent on feeding their sick mother, their parents' medical care. At the same time, they are also supporting the school fees, college fees of their younger siblings. So, what about them? They can't move. It's sad, Guys, this sandwich generation. And is this helped by the government? Yes, the government helps by issuing taxes. So, the middle class is already having a harder life, according to the government. Ah, is that all you have? Here's a new test, taxes. So, life is already harder, not many incentives, no social assistance. Apparently, now the middle class gets a bonus, taxes. And I've said this repeatedly. Hey, don't be weird, protest, say Indonesia is dark, Indonesia is black, Indonesia is whatever, I don't know. Especially those who protested about mining yesterday. Remember, Guys. The more mining companies that are closed, the less money circulates, the less income for entrepreneurs in Indonesia, the less income for employees, factory workers, and surrounding business actors. Because when you protest for mining to be closed, it means it's closed. The catering entrepreneurs there, the transportation entrepreneurs there, the people who like to cook there, the people who sweep the streets there, all disappear. Closed completely. Because of your hobby of protesting and hugging trees. Even though you've never been there. You also litter. Watch out. And what else? People who protest factories. Factories are told to close every year routinely. This has become a routine agenda. Do you think only breakfast with nasi uduk is routine in Indonesia? No, Guys. Demonstrations are like breakfast in Indonesia. So, more and more factories are closing due to continuous protests. Unclear protests. There are always 1001 reasons to protest. What's the consequence? Well, more and more mines are closed. Many palm oil companies are closed. Even though the backbone of the Indonesian economy is from exports, what? Export of coal mining, export of palm oil. Then when we want to export manufacturing, these factories are also protested and closed. In the end, what? Don't be surprised if the middle class disappears even more. Even though this middle class is the tax hero. Remember, Guys. If you keep shouting that MSMEs are advancing, MSMEs are advancing. Even though only micro entrepreneurs, small entrepreneurs are subsidized, paying 0.5% tax. Have you ever thought about how much street-side gorengan entrepreneurs, street-side pecel lele entrepreneurs pay their employees? Is it the minimum wage? I'm sure not. Definitely below the minimum wage. If employees' salaries are below the minimum wage, do they pay PPh 21 tax? Individual PPh, no. Does that mean they contribute to the country? Hey, think again. So, who should be supported? Yes, it's the same. Not only the middle class, but also middle-class entrepreneurs should be supported. Because I'm sure middle-class entrepreneurs, especially those who can move up to the upper-middle class, I'm sure their employees are paid the minimum wage. So they can contribute to the development of this country. But the data shows the opposite. Friends can see in 2019, this is a tabulation of the priority of middle-class spending in Indonesia in the last 5 years. Friends, the government is tracking, hey, this middle class will soon become a rare commodity, surpassing dinosaurs. Let's track where the middle class's money is going. In 2019, 41% of the middle class's money, the green color, went to food. Then the second, the dark brown color, 27.8%, friends, look at the graph, it's the largest expenditure of the middle class. Number two is housing. This means, for friends who are paying off mortgages, I'm sure most people buy houses with mortgages. It's all spent on paying off the mortgage. Then what's the next largest? Yes, of course, there are expenses for vehicle installments and so on. But what's interesting is that 3.4% of middle-class spending is for paying taxes. Wow, it turns out that the tax component is there in the middle-class spending component. I thought the middle class didn't pay taxes, Guys. Turns out they don't pay taxes. And this data shows that after 5 years, in 2024, the tax expenditure of the middle class has not decreased, but increased. Because in 2019, tax expenditure only took up 3.4% of the middle class's income, but in 2024, taxes have taken up 4.5% of the middle class's spending. This means that as the middle class increasingly disappears, becomes extinct, it turns out that taxes are not getting lighter, but taxes are getting more painful, Guys. Data proves it. We are talking based on data. So, friends, from here we see that this is a positive indication that Indonesia's economy, which is touted to grow at 8%, could be hampered, delayed, due to the Rojali phenomenon. Rojali can happen if the middle class disappears. Why has the middle class disappeared? Well, because many middle-class expenditures are becoming increasingly crazy, right? Inflation is getting higher, like for example, food and so on. On the other hand, purchasing power is decreasing. Hey, does the government want to help? Turns out the government is increasing taxes. Yes, this is ironic, Guys. Even though, especially, I want to talk about the middle class as business actors who actually need more help from the government. Because earlier, people, if they are middle-class entrepreneurs, especially upper-middle-class entrepreneurs, we are not talking about enterprise entrepreneurs, but MSMEs include small businesses, micro businesses, small businesses, medium businesses. The middle ones actually need help. Their turnover might be above Rp1 billion. They might already have hundreds of employees, but why are the incentives from the government always given to micro-micro-micro entrepreneurs, micro credit, for example, that's only a few hundred million, a few hundred million, what do you want to become? But middle-class entrepreneurs, if we can make them move up, middle-class entrepreneurs can become the next Unilever, the next Nestle. Why not, right? Let's support them. Give attractive tax incentives. Don't let 0.5% only be for micro entrepreneurs. Why not make tiered tax incentives, Guys? 0.5, 1%, 2%, 3%. I've said this repeatedly. If suddenly middle-class entrepreneurs have to pay 22% tax, facing other multinational entrepreneurs whose turnover is hundreds of trillions, the tax is also 22%, how can they compete? They can't even become an enterprise, let alone move up from a middle-class entrepreneur to a large-class entrepreneur, it's already difficult. So, there needs to be a bias from the government, and this is important for the government to know that in fact, purchasing power is decreasing and the middle class is disappearing. Yes, here we want to say that it means the government must intervene immediately. Not only for small businesses or small entrepreneurs or micro entrepreneurs, no. But also for middle-class entrepreneurs, for the middle-class people. Because they are actually the ones who create the most jobs and contribute to the state's tax revenue. Because they pay PPh, their employees pay income tax. Not the ones on the roadside who pay income tax. No, it's precisely these middle-class entrepreneurs. But why doesn't the government intervene? Because in my personal opinion, the government is obliged to provide economic stimulus that must have a direct impact and effect on the purchasing power of Indonesian society. If this is not done immediately by the government, if more middle-class people are struggling and disappearing, joining the Tyrannosaurus Rex and Raptors, then we have to be prepared for Indonesia's economic growth to be below 5%. Forget about being above 7% like Vietnam, I am as sure as I can be that Indonesia's growth will be below 5%. And this is not good news for Indonesia because the momentum for Indonesia now is grow, grow, and grow. And the important question, remember, this is an investment channel. In your opinion, with the Rojali and Rohana phenomenon, is this a positive or negative indication for Indonesia? Because remember, investment always works in two directions. Here, friends can directly say there are parties being disadvantaged, but do you know that there are also parties being benefited? In your opinion, what companies are benefited by the Rojali phenomenon? Because I've been waiting to buy their stocks, but I'm just one point short. Today it has jumped. So, what do you guys think? Is it time for us to invest in stocks or is there still the Rojali group going to the next lottery? So, it's better to wait first. What do you think about Indonesia's economy, will it continue to skyrocket to the moon or plummet? Okay, guys. Hopefully, this video is useful. Don't forget to write your views on the Rojali group, positive or negative. And once again, what's more important, what are the companies or businesses that are disadvantaged and who are benefited by this phenomenon. Hopefully, this video is useful. Don't forget to subscribe to the Benix channel. Healthy greetings, profit greetings. Bye bye. [Music]