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Danantara

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Danantara Indonesia Sovereign Fund
Badan Pengelola Investasi Daya Anagata Nusantara
Agency overview
Formed24 February 2025 (2025-02-24)
Preceding Agency
JurisdictionGovernment of Indonesia
HeadquartersSentra Mandiri
Jl. R.P. Soeroso No. 2–4
Central Jakarta, Indonesia
Agency executives
Websitewww.danantara.id

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.

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

Etymology

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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.

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]

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.[8] However, audits may be made upon request from the House of Representatives.[9][10][11]

Assets

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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.[12][13]

Organization

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The following is the structure of Danantara:[14][15]

  1. Person in Charge:
  2. Advisory Board:
  3. Supervisory Board:
  4. Managing Board

Danantara organized into the following:[14][16]

  • Office of the President of Indonesia as Person in Charge of Danantara
  • Advisory Board
  • Supervisory Board
    • Audit Committee
    • Remuneration and Human Capital Committee
    • Ethical Committee
  • Oversight and Accountability Committee
  • Managing Board (consisting of CEO, CIO, and COO)
    • Offices under CEO
      • CEO Office
      • Human Resources
      • Internal Audit
      • Corporate Communication and Stakeholders
    • Offices under CIO
      • Risk Committee
      • Investment and Portfolio Committee
      • Department of Investment Management
    • Offices under COO
      • Chief of Legal and Risk Management
      • Chief of Financial Officer
      • Department of Asset Management

See also

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References

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  1. ^ a b Indraini, Anisa; Al Hikam, Herdi Alif. "Prabowo Siapkan Danantara, Bagaimana Nasib INA?". detikfinance (in Indonesian). Retrieved 6 November 2024.
  2. ^ "Indonesia Approves Creation of Second Sovereign Investment Fund". The Diplomat. Retrieved 24 February 2025.
  3. ^ Daelami, Muawwan (6 November 2024). "Pemerintah Siapkan Gedung Bapindo sebagai Kantor Danantara Superholding BUMN". Investor. Retrieved 6 November 2024.
  4. ^ Binekasri, Romys. "Menteri BUMN Erick Siapkan Aset Bank Mandiri Buat Kantor Danantara". CNBC Indonesia (in Indonesian). Retrieved 6 November 2024.
  5. ^ "Indonesia launches new multi-billion-dollar sovereign wealth fund". France 24. Retrieved 24 February 2025.
  6. ^ "Danantara Bakal Diluncurkan pada 24 Februari 2025, Kelola Dana Jumbo US$ 900 Miliar". Kontan (in Indonesian). 15 February 2025.
  7. ^ Aprilia, Zefanya. "Muliaman: Danantara Bakal Seperti Gabungan Temasek dan Khazanah". CNBC Indonesia (in Indonesian). Retrieved 18 February 2025.
  8. ^ Harsonn, Norman (24 February 2025). "Indonesia to Send $20 Billion to Newly Created Investment Agency". Bloomberg. Retrieved 24 February 2025.
  9. ^ Stefanno Sulaiman, Ananda Teresia (24 February 2025). "New Indonesia sovereign wealth fund to invest $20 billion in projects". Reuters. Retrieved 24 February 2025.
  10. ^ "Serba-serbi Danantara dan Polemiknya: Tak Bisa Diaudit BPK dan KPK". Tempo (in Indonesian). 21 February 2025. Retrieved 24 February 2025.
  11. ^ "Danantara and the austerity paradox - Editorial". The Jakarta Post. Retrieved 24 February 2025.
  12. ^ "Prabowo Umumkan Danantara Meluncur 24 Februari, Kelola Rp14.000 T". CNN Indonesia (in Indonesian). 14 February 2025.
  13. ^ Anggela, Ni Luh (15 February 2025). "Prabowo: Danantara Meluncur 9 Hari Lagi, Kelola Dana Rp14.715 Triliun!". Bisnis (in Indonesian).
  14. ^ a b Noviani, Ana; Evandio, Akbar (24 February 2025). "Struktur Lengkap BPI Danantara: Badan Pelaksana, Dewan Pengawas, Dewan Penasehat". Bisnis (in Indonesian). Retrieved 24 February 2025.
  15. ^ Bagja, Komaruddin (24 February 2025). "Susunan Lengkap Pengurus Danantara: SBY dan Jokowi Jadi Dewan Penasehat". iNews (in Indonesian). Retrieved 27 February 2025.
  16. ^ "Ini Struktur Kepemimpinan Danantara". Republika (in Indonesian). 24 February 2025. Retrieved 27 February 2025.
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