The newly established Badan Pengelola Investasi Daya Anagata Nusantara (Danantara) has set an ambitious path as Indonesia's premier superholding. Starting with seven state-owned enterprises (SOEs) as pilot projects, Danantara will consolidate assets from some of the largest and most strategic companies, including Bank Mandiri, BRI, BNI, Telkom Indonesia, Pertamina, PLN, and mining holding MIND ID. Together, these entities represent a significant share of Indonesia’s economic output.

Initially, Danantara will manage assets worth $10.8 billion sourced from the Indonesia Investment Authority (INA). The longer-term objective involves increasing its Assets Under Management (AUM) to $600 billion, with projections of reaching nearly $982 billion over the coming years. This move is seen as a major step toward centralizing and optimizing the management of key national resources while enabling more focused investments and growth strategies for SOEs.

Danantara’s leadership, including Deputy Head Kaharuddin Djenod, emphasizes that these seven companies represent a cross-section of Indonesia's diverse economic sectors. Their consolidation under Danantara is expected to enhance efficiency, improve governance, and align strategic goals. Future expansions are also planned as regulatory frameworks evolve to accommodate additional SOEs.

Key regulatory developments are crucial to the success of Danantara. The finalization of government regulations (PP) and a presidential regulation (Perpres) is underway, with President Prabowo Subianto expected to sign them upon his return from international engagements. These legal frameworks will not only formalize Danantara’s operations but also address broader issues surrounding Indonesia’s SOEs and financial governance.

According to Muliaman D. Hadad, Head of Danantara, the initiative is designed to foster better synergy among SOEs, allowing them to operate with a cohesive strategy while retaining their individual mandates. Legislative changes, including updates to the SOE and state finance laws, will provide the necessary legal foundation to support this ambitious restructuring.

Danantara's mission is to strengthen Indonesia’s economic resilience by creating a platform that maximizes the potential of its SOEs. The consolidation aims to make these enterprises more competitive globally, ensuring sustainable growth while preserving national interests.

BISNIS.COM