I did try to look at Indonesian company last year. But the valuation of these company is a bit on the high side and they aren't much that have good ROA and ROE. Plus, some of them does not even have a website, so it is quite hard to understand the business and obtain the annual report. But, if you have stay there and understand that place, by all means invest in Indonesia. But I think the market there has been pushed up a lot by the foreign funds coming into that country.

I can invest in Jakarta Stock Exchange via POEMS.

what is the broker fee to invest in indonesia?

I did not have any indonesian stock yet. I find a few last year that do have good valuation. One of them I think the name is PT Sepatu something. There is a higher risk level involve in investing in Indonesian stock,as there is no information. Since there is no website, I can't e-mail or call them to ask about their company business. So, due to the lack of information, I did not proceed further. But, if you are working there or know that place well enough, you can give it a try. But, most of the good ones already been pushed up a lot. I can use POEMS from Singapore to do internet trading for Indonesian stock as well as Thailand, Hong Kong, London, US and a few others. But, I rarely trade, don't really have time to monitor the market. So, I am those buy and hold kind but take advantage of the cheap transaction cost of internet trading. BTW, you can look at some Indonesian company listed in Singapore too. Anything that have the lable "PT" is Indonesian company, it is kinda like our Berhad.
I have to admit that I am not an expert in Indonesian politics. But, Indonesia under SBY have done quite a lot of good. There are more transparent now then say Indonesia of a few years back. There even have an anti-racism law. In the macro economics wise, there are building up their FOREX researves under the guidance of Sri Muliyati( who is very competent like our Zeti). Now, there are a bit of a problem with the Bank Century bailout and causes the two architect of Indonesia growth, Sri Muliyati and Boediono under pressure to resign. I hope they can stay on cause both of them do a lot to regain foreign investor confidence. Inflation is still a major problem there, this is due to their dependence on imported oil. During the oil boom,  they have to jack up the subsidized fuel price.

But, if you look beyond all this, Indonesia is a resource-rich country that is close to China and have a huge domestic population to support their own private consumption. They import oil due to years of under investment in oil. Malaysia's per acre palm oil yield is twice of Indonesia. Just imagine the they are able to let their oil fields pumping oil again (they are an OPEC member and have the most oil among ASEAN nation) and bring the yield of their palm oil up. It may depress palm oil prices but the one suffering will be Malaysian palm oil who have no volume growth and have to take a lower price. They have a few others resources too like coal which is imported into few east asian countries. So, all in all, if China and India keep on consuming natural resources, they will need to buy from Indonesia, this will drive up their domestic income and domestic consumption and it will be a 400m population country with a growing middle class consumer.

Ever wonder why Obama go to Indonesia for his leg of Asian tour? Coz, Indonesia is turning into a major player in this region.

Obviously, you can go to HKSE or anywhere to trade. There is no "the market". I like to look at companies and do not care about the market that much. Good company are everywhere regardless of which market. I like to look at businesses, so, I just look at all the countries. There are some cheap ones in Hong Kong as well as Indonesia. Obviously, if you are trading, HKSE do offer you better liquidity and stuff. But, I don't really concern about that. Don't limit your options.

i would rather invest in india....hehe..

I have started research on indonesian equities after the recent crash. What i found is the bigger stocks are way overvalue but the smaller ones are preety much neglected. Foreigner institution dominate the market here, with >80% of the volume. Retailers are hardly here.

The stocks have been on a tear recently, with companies posting cagr of 30 to 50 pct per annum. There are a lot of good companies selling at decent valuations. The market is highly inefficient, so there much gems to be unearthed. 

Ok first stock recommendation for IDX..

Stock Code : BTPN
Current Price : Rp 4,000
Liquidity : Very Low !
Current PE : 10.8x (Reasonable)
Current DY : 0
PBV : 3.2x (quite high)
5 Year Growth : Averaging 40-50% per YEAR
Future Growth : Expect to moderate between 25-30% per year

You seems to be quite heavy into developers, recently interest rate has gone up...so it might be dangerous

I have ..

Semen Indonesia (Highest Margin cement producer & owns Than Loong cement in Vietnam),
Indocement ( Biggest producer with net cash of 10 trillion rupiah)
BTPN (as previously mentioned),
Summerecon Agung (Developer of high class residential BUT 33% recurring income comes from shopping mall& office& hotels)
Bank Mandiri (Undervalue bank with good growth)
BW Plantation (Plantation run by ex Boustead CEO, largest unplanted land bank, youngest trees)

I believe these stocks have good potential to withstand the roller coaster...but the growth story is still here in Indonesia, not gonna dissipate anytime soon.