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Danantara

Indonesian sovereign wealth fund From Wikipedia, the free encyclopedia

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Daya Anagata Nusantara Investment Management Agency (Indonesian: Badan Pengelola Investasi Daya Anagata Nusantara), commonly known as Danantara Indonesia or simply Danantara, is the second sovereign wealth fund of Indonesia, after the Indonesian Investment Authority.[1][2] The agency is led by a chairman, currently Rosan Roeslani.

Quick Facts Agency overview, Formed ...
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The agency is the fusion of certain functions between the Indonesia Investment Authority and the country's Ministry of State-Owned Enterprises.[3][4]

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Etymology

Daya is an Indonesian word meaning "strength", "ability", or "effort", with origin traced from Sanskrit and Old Javanese. Anagata was taken either from Sanskrit or Pali, anāgata, meaning "not yet to come" or "future". Nusantara is the Indonesian name for the region spanning the Indonesian archipelago. The word nūsa meaning "island" in Old Javanese was derived from the Proto-Malayo-Polynesian word *nusa with the same meaning, and the word antara is a Javanese loanword from Sanskrit, antarā, meaning "between" or "in the middle", thus creating a compound word of nūsa + antara. Together, it means "the outer islands" (from Java's perspective) as mentioned in the 14th century Old Javanese manuscript Pararaton and Nagarakretagama.

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History

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Launching of Danantara, left-to-right: former President Yudhoyono, incumbent President Prabowo, and former President Widodo.

Danantara was launched on 24 February 2025.[5] For the initial stage, it is projected to have funding of IDR 320 trillion or US$20 billion.[6] Danantara is projected to be a global investment firm like Malaysia's Khazanah or Singapore's Temasek.[7]

Assets

As a result of the formation of Danantara, seven state-owned enterprises have been moved out of the Ministry of State-Owned Enterprises' direct management and placed under Danantara, which are:[1]

When fully operated, Danantara expected to manage around IDR 14.72 quadrillion funds (US$900 billion), combined total assets of the seven state-owned enterprises.[8][9]

Organization

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The following is the structure of Danantara:[10][11][12]

Danantara Managing Commitee organized into the following:[13]

Managing Directors:

  • Managing Director Legal: Robertus Billitea
  • Managing Director Risk and Sustainability: Lieng-Seng Wee
  • Managing Director Finance: Arief Budiman
  • Managing Director Treasury: Ali Setiawan
  • Managing Director Global Relations and Governance: Mohamad Al-Arief
  • Managing Director Stakeholders Management: Rohan Hafas
  • Managing Director Internal Audit: Ahmad Hidayat
  • Managing Director Human Resources: Sanjay Bharwani
  • Managing Director / Chief Economist: Reza Yamora Siregar
  • Managing Director Head Of Office: Ivy Santoso

Risk Management Committee: John Prasetio
Investment and Portfolio Committee: Yup Kim

Operational Holding under COO

  • Managing Director: Agus Dwi Handaya
  • Managing Director: Febriany Eddy
  • Managing Director: Riko Banardi

Investment Holding under CIO

  • Managing Director Finance: Djamal Attamimi
  • Managing Director Legal: Bono Daru Adji
  • Managing Director Investment: Stefanus Ade Hadiwidjaja
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Controversy

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Concerns about the management and transparency of the entity were raised due to the inability of national auditors namely the Financial Audit Board (BPK), the Agency for Financial and Development Supervision (BPKP), as well as the Corruption Eradication Commission (KPK) to monitor the managed assets.[14] However, audits may be made upon request from the House of Representatives.[15][16][17] Indonesian public spheres and mass media concerned about the future fate of Danantara may look to 1Malaysia Development Bhd. (1MDB) for a relevant example.[18][19]

Deni Friawan, a researcher from the Centre for Strategic and International Studies (CSIS), argued that the success of Danantara may depend on factors such as independence, transparency, professionalism in its management and support for clear business orientation. He compared it to Singapore's Temasek Holdings, whose officials have close connections to the government, but still maintain their independence and professionalism.[19]

On 24 March 2025, former Thai prime minister (2001–2006) Thaksin Shinawatra was appointed as a Danantara advisory board member. However, he and his family were involved in several scandals and corruptions in Thailand.[20][21][22]

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See also

References

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