[hanomantoto]

TEMPO.CO, Jakarta – The Presidential Office has confirmed that President Prabowo Subianto‘s government intends to consolidate all state assets under an institution dubbed the Sovereign Wealth Fund Management Agency or Danantara. However, the head of state is not rushing the process.

“Bapak President has instructed us to take a careful and prudent approach to ensure the good implementation of Danantara,” said Head of the Presidential Office, Hasan Nasbi, following a coordination meeting in Sentul, Bogor, on Thursday, November 7, 2024.

Previously, the head of the superholding Muliaman Darmansyah Hadad had announced plans to launch Danantara on November 7, 2024. However, subsequent developments led to the cancellation of the launch.

He explained that Prabowo instructed him to prioritize the completion of necessary regulatory revisions, including government regulations and presidential regulations.

The former head of the Financial Services Authority (OJK) ensured the government will make every effort to ensure that Danantara is launched effectively. As widely reported, Prabowo is scheduled to make a two-week overseas trip starting on November 8.

Danantara is envisioned as a major investment manager in Indonesia, aiming to be on par with Singapore’s Temasek. This new entity is distinct from the Ministry of State-Owned Enterprises. SOE Minister Erick Thohir has expressed his ministry’s support for the establishment of Danantara.

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