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"The preparation of regulatory framework in the Government Work Plan/National Medium Term Development Plan has not been fully aligned with the preparation of laws and regulations in the National Legislation Plan and or Program for Preparation of Government Regulations and Presidential Regulations. The main objective of this paper is to investigate the factors that hinder the coordination mechanism for drafting regulations and emphasize the importance of realizing synergies, focusing on achieving a coordinated approach in drafting regulations. This policy research paper adopted a normative juridical analysis and a qualitative approach based on empirical data. The findings suggest that the coordination mechanism for preparing regulations is not functioning optimally due to inhibiting factors. The inhibiting factors are the lack of awareness regarding of the importance in meeting the indicators for proposing a regulatory framework and the absence of regulations that mandated sector directorates and KL (ministries/agencies) to comply with these indicators. Also there was a lack of synergy in coordinating the drafting of regulations."

"Tulisan ini menganalisis perkembangan obligasi biru di Indonesia dan potensi permasalahan yang mungkin timbul akibat proses penerbitan obligasi biru di Pasar Obligasi Jepang. Selain itu, artikel ini juga menjelaskan dampak dan risiko hukum dari penerbitan ini serta memberikan perbandingan singkat dengan penerbitan obligasi biru yang dilakukan oleh Republik Seychelles, Republik Fiji, Bank of China, dan Pemerintah Provinsi Hainan. Tulisan ini disusun dengan menggunakan metode penelitian doktrinal. Obligasi biru merupakan obligasi berkelanjutan yang menggunakan konsep ekonomi biru yang termasuk dalam 17 Tujuan Pembangunan Berkelanjutan. Indonesia telah menerbitkan obligasi biru di Pasar Obligasi Jepang pada tahun 2023 untuk mendukung proyek-proyek yang memperhatikan pertumbuhan ekonomi biru sebagaimana diamanatkan Undang-Undang Nomor 32 Tahun 2014 tentang Pengelolaan Kelautan. Namun karena obligasi biru diterbitkan di Pasar Obligasi Jepang, maka penting untuk memastikan proses penerbitannya sesuai dengan ketentuan yang berlaku, seperti Peraturan Menteri Keuangan No. 215/PMK.08/2019 tentang Penjualan dan Pembelian Kembali Surat Utang Negara dalam Valuta Asing di Pasar Internasional dan Undang- Undang Nomor 28 Tahun 2022 tentang Anggaran Pendapatan dan Belanja Negara Tahun 2023. Selain itu, penting juga untuk mengetahui dampak dan risiko hukum yang mungkin timbul dari penerbitan obligasi biru tersebut. Selain itu, perbandingan singkat dengan penerbitan obligasi biru yang dilakukan oleh negara dan lembaga lain dapat menunjukkan beberapa perbandingan mengenai struktur obligasi biru, pihak-pihak yang terlibat, dan penggunaan dana obligasi biru tersebut sehingga Indonesia dapat mengkaji dan meningkatkan kapasitasnya dalam hal ini. melakukan penerbitan obligasi biru di masa depan. Beberapa cara yang dilakukan adalah dengan melakukan pengujian lebih lanjut terhadap obligasi biru, membuat kerangka kerja yang detail, dan meningkatkan kepatuhan terhadap peraturan perundang-undangan yang berlaku.

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This article analyzes the development of blue bonds in Indonesia and the potential problems that could arise due to the blue bond issuance process on the Japanese Bond Market. Apart from that, this article also describes the legal impacts and risks of this issuance and provides a brief comparison with the blue bond issuance carried out by the Republic of Seychelles, the Republic of Fiji, the Bank of China, and the Hainan Provincial Government. This article was prepared using doctrinal research methods. Blue Bond is a sustainable bond that uses the blue economy concept, which is included in the 17 Sustainable Development Goals. Indonesia will issue Blue Bonds on the Japanese Bond Market in 2023 to support projects that pay attention to blue economic growth as mandated by Law Number 32 of 2014 concerning Marine Management. However, because Blue Bonds are issued on the Japanese Bond Market, it is important to ensure that the issuance process complies with applicable regulations, such as Minister of Finance Regulation No. 215/PMK.08/2019 concerning the Sale and Repurchase of Government Debt Securities in Foreign Currency in International Markets and Law Number 28 of 2022 concerning the 2023 State Expenditure and Expenditure Budget. Apart from that, it is also important to know about the impact and legal risks that could arise from the issuance of the blue bond. Apart from that, a brief comparison with blue bond issuances carried out by other countries and institution can show several comparisons on the blue bond structures, parties involved, and the use of proceeds of the blue bonds so that Indonesia can study and increase its capacity in carrying out blue bond issuances in the future. Some ways are by carrying out further testing of blue bonds, creating a detailed framework, and increasing compliance with applicable laws and regulations."

"Organizations perform all activities and operations within a framework, which are built on its vision and mission. The performance of each activity and operation can be measured using Key Performance Indicators (KPI), which indicate the organization’s success in achieving its strategic objectives. KPI is widely used not only by profit-oriented organizations, but also by non-profit organizations such as government agencies. Government agencies have different characteristics in terms of funding, programs, and culture. This research describes the development of KPI in an Indonesia government agency. This research was conducted in three stages: evaluating the organization’s vision and mission; determining the organization’s position using Strength, Weakness, Opportunity, and Threat (SWOT) analysis; and preparing a strategic plan, and developing the priorities of that plan using the Analytical Hierarchy Process (AHP). The result of KPI development shows that the government agency has eight strategic objectives and five KPI."

"This paper presents a study of sustainable rating systems for sustainable housing that have been developed by various countries around the world. The objective of this study is to develop a framework for a rating system for housing development by taking into account local requirements. There are numerous sustainable rating systems for buildings and groups of buildings that have been developed and rating tools like Comprehensive Assessment System for Building Environmental Efficiency (CASBEE), Leadership in Energy and Environmental Design (LEED), British Research Establishment Environmental Assessment Method (BREEAM), Green Building (GB) Tool and Green Star influential in the development of other rating systems. Malaysia has recently launched a rating system for buildings called the Green Building Index (GBI). However, Malaysia has yet to introduce a rating system for measuring sustainable practices in housing development. Hence, this paper reviews some available tools related to the rating of housing developments for the purpose of developing one for Malaysia. Important factors for developing a tool for measuring sustainability practices should include sustainability criteria that relates to the environment, society, economics, site/land use, communication, and transportation. An index for measuring sustainability in housing development will be developed to suit the local context. The formulated index will take into consideration the parameters in sustainable housing developed by various systems around the world. The index, called A Comprehensive Assessment System for Sustainable Housing (CASSH), will be available for further testing."

"ABSTRAKAlasan suatu organisasi dalam melakukan akuisisi salah satunya adalah untuk meningkatkan kekuatan pasar di dalam industrinya, hal itu juga yang menjadi alasan mengapa PT ABC mengakuisisi PT XYZ. PT ABC yang merupakan perusahaan penerbangan baru saja mengakuisisi sebuah perusahaan penerbangan lain di Indonesia yaitu PT XYZ. Dengan bergabungnya PT XYZ ke dalam PT ABC diharapkan dapat melebarkan pangsa pasar penumpang angkutan udara hingga 51%. Adanya proses akuisisi tersebut mengubah strategi bisnis dengan strategi SI/TI yang sudah tertuang pada perencanaan strategis SI/TI PT ABC periode 2017-2020, sehingga perencanaan strategis SI/TI PT ABC periode 2017-2020 sudah tidak lagi selaras dengan strategi PT ABC. Dalam pelaksanaannya penyelarasan bisnis dengan strategi SI/TI dari kedua perusahaan menjadi salah satu faktor kesuksesan dalam melakukan akuisisi perusahaan. Berdasarkan permasalahan tersebut, tujuan dari penelitian ini adalah untuk mengatasi keterbatasan metodologi perencanaan strategis SI/TI dengan melengkapi kerangka kerja perencanaan strategis SI/TI yang ada saat ini berdasarkan konsep Merger & Akuisisi (M&A). Kerangka kerja perencanaan strategis SI/TI yang dapat digunakan dalam proses akuisisi PT XYZ oleh PT ABC ini dibentuk dengan mengadopsi elemen-elemen hasil analisis data internal dari metodologi perencanaan strategis SI/TI Peppard dan Ward, serta elemen-elemen hasil analisis data eksternal dari alasan melakukan M&A, karakteristik M&A, risiko M&A, mitigasi risiko M&A, strategi M&A, metode integrasi, kebijakan M&A, faktor kesuksesan dan kegagalan M&A, serta proses melakukan M&A. Penelitian ini melakukan analisis data eksternal yaitu dari studi literatur dan wawancara terhadap tiga narasumber yaitu VP TI PT ABC, VP TI PT XYZ dan VP Corporate Strategy PT ABC. Kerangka kerja perencanaan strategis SI/TI yang dapat digunakan dalam proses akuisisi PT XYZ oleh PT ABC yang diusulkan oleh penelitian ini mencakup konteks M&A, konteks SI/TI, analisis kemungkinan metode integrasi yang digunakan, memilih opsi metode integrasi terbaik, perencanaan strategis SI/TI, analisis gap, rencana pengembangan SI/TI, rencana perubahan, dan evaluasi. Kerangka kerja yang diusulkan diharapkan dapat mengatasi keterbatasan metodologi perencanaan strategis SI/TI yang ada saat ini berdasarkan konsep M&A.

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ABSTRACT

One of the reasons an organization makes acquisitions is to increase market power in its industry, and that is also the reason why PT ABC acquired PT XYZ. PT ABC which is an airline has just acquired another airline in Indonesia, PT XYZ. The joining of PT XYZ into PT ABC is expected to be able to widen the air transport passenger market share by 51%. The existence of the acquisition process changes the business strategy with the IS / IT strategy that has been stated in the strategic planning of PT / ABC ABC 2017-2020, so that the strategic planning of PT / ABC of 2017-2020 is no longer in line with the strategy of PT ABC. While aligning business with the IS / IT strategy of the two companies is one of the success factors in the company's acquisition. Based on these problems, the aim of this study is to overcome the limitations of the IS / IT strategic planning methodology by complementing the existing IS / IT strategic planning framework based on the concept of Mergers & Acquisitions (M&A). The IS / IT strategic planning framework that can be used in the process of acquisition of PT XYZ by PT ABC was formed by adopting elements of the results of internal data analysis from Peppard and Ward's SI/TI strategic planning methodology, as well as elements of the results of external data analysis of reasons conduct M&A, M&A characteristics, M&A risks, M&A risk mitigation, M&A strategies, integration methods, M&A policies, M&A success and failure factors, and the process of conducting M&A. This study analyzes external data from literature studies and interviews with three speakers, namely VP IT PT ABC, VP IT PT XYZ and VP Corporate Strategy PT ABC. The IS / IT strategic planning framework that can be used in the acquisition process of PT XYZ by PT ABC proposed by this research covers the M&A context, the IS / IT context, analysis of possible integration methods to be used, selecting the best integration method options, SI / strategic planning IT, gap analysis, IS / IT development plan, change plan, and evaluation. The proposed framework is expected to overcome the limitations of existing IS / IT strategic planning methodologies based on the concept of M&A."

"Inflation Targeting Framework (ITF) dalam dua dekade terakhir semakin popular sebagai sebuah pendekatan baru dalam kebijakan moneter yang menggunakan inflasi sebagai sasaran utama kebijakan menggantikan besaran lain seperti pertumbuhan jumlah uang beredar. Namun ITF menemui banyak kritik menyangkut orientasi kebijakan yang mengutamakan stabilisasi yang menurut pengkritik akan mengorbankan pertumbuhan dan pengangguran. Atas kritik tersebut pendukung ITF menunjukkan bahwa ITF adalah kerangka kebijakan yang flexible yang dalam jangka pendek dapat merespon permasalahan output seperti di masa krisis. ITF merupakan pendekatan kebijakan yang bersifat diskresi daripada sebuah rule yang kaku. Sementara beberapa penelitian justru menunjukkan bahwa respon terhadap inflasi pada negara yang menerapkan ITF justru menurun setelah penerapan ITF. Sedangkan untuk Indonesia, yang menerapkan ITF sejak Juli 2005, bagaimana perubahan respon kebijakan moneter dengan penerapan ITF menjadi objek utama dalam penelitian ini. Penelitian menggunakan model Taylor Rule sebagai fungsi respon kebijakan moneter. Perubahan respon diukur dari perubahan parameter dalam fungsi respon kebijakan moneter yang akan diestimasi dengan model Time Varying Parameter. Hasil penelitian menunjukkan bahwa penerapan ITF di Indonesia membuat respon kebijakan moneter lebih responsif terhadap Inflasi. ITF bersifat diskresi dengan parameter respon yang berfluktuasi dari waktu ke waktu dalam periode yang diteliti.

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Inflation Targeting Framework (ITF) in the last two decades had been popular as the new framework in setting monetary policy which used inflation as nominal anchor, replacing other nominal anchor such as money growth. But its popularity was not without critics. Opponents of ITF criticized ITF to its concern on stabilization only that would sacrifice other objectives of policies: output and employment. Proponents of ITF answered the critics by arguing that ITF was a flexible framework rather than a rigid rule. It could anticipate problem of output in the short run such as during a crisis. While some researches on this field found that in some ITF countries monetary policy response to inflation tended to be lower after implementing ITF. For Indonesia which had implemented ITF since July 2005, how the changes in monetary policy responses due to ITF implementation was an object of this research. Using Taylor Rule as monetary policy responses function, changes of the response measured by changes in parameter of the model which estimated by a time varying parameter method. Evidence showed that ITF in Indonesia had changed the response of monetary policy to be more responsive to inflation than before. ITF implemented as discretion rather than a rule with monetary policy response changed over time during observed periods."

"Laporan magang ini disusun untuk mengevaluasi pengendalian internal pada proses Innovation di PT UVW. Innovation merupakan proses menggunakan strategi inovasi dalam membuat produk dan layanan yang akan meningkatkan posisi perusahaan melalui proses pengujian  dan optimalisasi produk. Evaluasi dilakukan dengan melihat ketersediaan dan keefektifan proses dalam Innovation lalu dibandingkan dengan Kerangka Pengendalian Internal COSO. Kerangka Pengendalian Internal yang dievaluasi terfokus pada 3 komponen, yaitu control environment, risk assessment, dan control activities. Dalam pengendalian internal control environment, pengendalian sudah efektif untuk memberikan jaminan yang wajar bahwa risiko dikelola dan tujuan dipenuhi tetapi dapat diberikan pengembangan lanjut untuk meningkatkan kinerja pengendalian. Pada pengendalian internal COSO risk assessment, semua kontrol yang dilakukan untuk melakukan penilaian risiko telah dilakukan secara efektif dan memadai sesuai dengan Kerangka Pengendalian Internal COSO. Terkait pengendalian internal COSO control activities, kontrol untuk aktivitas pengendalian sudah efektif dan masih dikembangkan lebih lanjut untuk meningkatkan kinerja. Dapat disimpulkan bahwa PT UVW telah menerapkan tiga komponen dalam Kerangka Pengendalian Internal COSO terkait proses Innovation secara efektif, tetapi perlu evaluasi dan penilaian lebih lanjut agar kinerja pengendalian internal lebih baik lagi. Selanjutnya, magang di PT UVW dievaluasi dengan refleksi diri terkait hal yang baik dan belum berjalan dengan baik selama kegiatan magang, serta menentukan tindak lanjut yang akan dilakukan ke depan.

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This internship report was prepared to evaluate internal control in the Innovation process at PT UVW. Innovation is the process of using an innovative strategy in creating products and services that will enhance the company's position through product testing and optimization processes. Evaluation is carried out by looking at the availability and effectiveness of processes in Innovation while being compared to with COSO's Internal Control Framework. The Internal Control Framework focused on evaluating 3 components, namely control environment, risk assessment, and control activities. In the internal control environment, controls are already effective to provide reasonable assurance which risks are managed and objectives are met but further development can be provided to improve control performance. In the COSO internal control risk assessment, all controls have been carried out effectively and adequately in accordance with the COSO Internal Control Framework. Regarding internal control of COSO control activities, controls have been effective and can be developed further to improve performance. It can be concluded that PT UVW has effectively implemented the three components in the COSO Internal Control Framework related to the Innovation process, but further evaluation and assessment is needed to enhance internal control performance even better. Furthermore, the internship at PT UVW is evaluated with self-reflection regarding things that are good and have not gone well during the internship, and determine the follow-up actions that will be carried out in the future."

"Tesis ini membahas tentang hubungan kausalitas antara suku bunga SBI, nilai tukar riil, tingkat harga dan aktititas ekonomi riil khususnya pada periode diterapkannya ITF di Indonesia sejak Juli 2005. Penulisan tesis ini dilatarbelakangi oleh dampak penggunaan suku bmmga sebagai sasaran operasional kebijakan moneter dalam Icerangka ITF serta nilai tukar terhadap tingkat harga dan aktifitas ekonomi riil. Data yang digunakan adalah data time series bulanan yang terdixi dari tingkat suku bunga SBI tenor 1 bulan, nilai tukar riil Rp/USS, Indeks Harga Konsumen dan sebagai proxy dari alctifitas ekonomi riil digunakan indeks produksi manufaktux Indonesia dengan rentang periode observasi sejak bulan Juli 2005 sampai dengan Mei 2008. Metode ekonometri yang digunakan adalah model VAR (Vector Autoregression). Untuk melihat pola hubungan gmcangan antar variabel diperoleh dari hasil Impulse .Respon Function (IRF), sedangkan untuk mencntukan sumbangan /komposisi gmmcangan musing-musing variabel terhadap varians dari vaxiabcl tertentu digunakan metode Forecast Error Variance Decomposition (FEVD). Hasil IRF yang diperoleh menunjukkan bahwa guncangan suku bunga SBI masih cukup efcktif untuk mempengaruhi tingkat harga dan mempcrkuat nilai tukar. Guncangan suku bunga SBI dapat rnemberikan dampak yang negatif terhadap aktititas ckonomi riil. Hasil analisis FEVD menunjukkan bahwa pada periode observasi nilai mkar agak sulit dikendalikan. Guncangan niiai tukar riil lebih dominan dalam mempcngaruhi vanasi tingkat harga dan aktititas ekonomi riil. Hal ini mennnjukkan semakin dominannya pengaruh luar negeri dalam perekonomian Indonesia.

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This thesis discusses the causality relationship among SBI interest rate, real exchange rate, price level and real economic activity especially in period of the ITF implementation in Indonesia since July 2005. The effect of employing interest rate as the operational target of monetary policy and exchange rate on price level and real economic activity is the main background of this thesis.

Data employed in this thesis are monthly time series consist of one month SBI interest rate, real exchange rate Rp/U S, Consumer Price Index and manufacturing production index as a proxy of real economic activity with observation period from July 2005 to May 2008. VAR (Vector Autoregression) is used as the econometric method.

The result obtained from Impulse Respon Function (IRF) method is used to analyze the relationship characteristic among shocks of each variable. Forecast Error Variance Decomposition (FEVD) method is used to determine the shock contribution of each variable to one variable.

IRF result shows that SBI interest rate shock is e&`ective enough to influence the price level and to strenghten the exchange rate. SBI interest rate shock is negatively reponsed by real economic activity. FEVD result shows that exchange rate is hard to be controlled during observation paiod. The exchange rate shock influences the variability of price level and real economic activity dominmitly. This result indicates the more dominant influence of foreign economic on Indonesian economic."