Heaptalk, Jakarta — On Monday (02/24), President Prabowo Subianto launched the Investment Management Agency of Daya Anagata Nusantara (BPI Danantara) at the State Palace in Jakarta.
Prabowo emphasized the significance of this launch, calling it “a milestone in the transformation of strategic investment management in Indonesia.” This agency was formed following the third amendment to Law Number 19 of 2003 concerning State-Owned Enterprises (SOEs), which was ratified in a plenary session of the DPR on February 4, 2025.
“We are launching Danantara Indonesia, our new state investment fund, which, according to our initial evaluation, has assets under management exceeding US$900 billion,” said Prabowo.
Prabowo also mentioned that this agency will manage seven state-owned enterprises (SOEs), including Bank Mandiri, Bank Rakyat Indonesia (BRI), and Bank Negara Indonesia (BNI). Prabowo stated, “As the main shareholder, BPI Danantara will play a role in the Annual General Meeting of Shareholders of these three banks, which is scheduled to take place at the end of March 2025.”
Additionally, BPI Danantara manages dividends from investment holdings, operational holdings, and SOEs. It will approve the addition or reduction of SOE capital sourced from dividend management and oversee SOE restructuring, including mergers, acquisitions, and business separations. BPI Danantara will also form new investment holdings, operational holdings, and SOEs and approve the deletion of SOE asset claims. The agency will consult the work plan and budget for the investment and operational holdings with the DPR RI. “All of this is stipulated in Article 3E paragraph (1) of the SOE Law,” Prabowo noted.
On this occasion, Prabowo signed the Presidential Decree for establishing the Supervisory Board and Executive Body of BPI Danantara, accompanied by several ministers. He stated, “Presidential Decree Number 30 of 2025 on the Appointment of the Supervisory Board and Executive Body of the Investment Management Agency of Daya Anagata Nusantara (Danantara) Indonesia.”
The SOE Law states that Danantara’s structure comprises the supervisory board and the executive body. The supervisory board is responsible for overseeing the executive body’s operations.
As an Investment Management Agency, a new clause specifies that Danantara will receive capital sourced from state capital participation and other sources. State capital participation can come from cash funds, providing state-owned goods, and the state’s share ownership in SOEs.
It has also been established that Danantara’s capital as an investment management agency is set at a minimum of Rp 1,000 trillion. This capital may increase with additional state capital injections or from other sources. Prabowo previously stated that this agency would become Indonesia’s major capital management institution. This investment agency’s operations are expected to be similar to Singapore’s Temasek Holdings. Danantara will manage assets worth US$900 billion or approximately Rp14,715 trillion.
