Danantara Indonesia has denied reports claiming it plans to invest Rp16 trillion in the stock market (30/11).

Managing Director of Treasury, Ali Setiawan, clarified during a Media Lunch with Danantara that rumors circulating in recent weeks are incorrect.

Managing Director Ali Setiawan Clarifies Speculation

Ali explained that public speculation had positioned Danantara as a potential buyer of various assets, from banks to private projects, including stock purchases. He stated that the company never announced plans to buy specific stocks.

“Earlier, there was a question about a Rp16 trillion investment in the stock market. I said no. It’s not true,” Ali said.

He emphasized that while Danantara supports domestic financial market development, it does not involve specific amounts, instruments, or purchase targets that have been reported.

Investment Focus on Bonds, Not Speculative Stocks

Ali added that Indonesia’s capital market is still dominated by government bonds and corporate bonds with low liquidity. Danantara plans to carefully select assets for investment.

Most funds will target liquid government bonds. For off-the-run corporate bonds, purchases will depend on offered premiums. The company will not invest in speculative stocks or those with price-to-earnings ratios outside internal guidelines.

Danantara’s Strategic National Projects

The company’s investment priority includes at least 10 strategic projects across Kalimantan, Papua, Sumatra, and Nusa Tenggara.

Major projects include:

• Dimethyl Ether (DME) Industry in Bulungan, Kutai Timur, Kota Baru, Muara Enim, and Banyuasin, requiring Rp164 trillion, linked to PT Bukit Asam Tbk (PTBA).
• Aluminium Smelter in Mempawah, West Kalimantan, valued at Rp72 trillion, related to PT Cita Mineral Investindo Tbk (CITA) and PT Aneka Tambang Tbk (ANTM).
• Iron Sand-Based Steel Industry in Sarmi, Papua, worth Rp19 trillion, associated with PT Krakatau Steel Tbk (KRAS).
• Chemical Projects with PT Chandra Asri Pacific Tbk (TPIA) and PT Barito Pacific Tbk (BRPT), including a Rp13 trillion chlor-alkali–ethylene dichloride plant in Cilegon and a Rp16 trillion chlor-alkali plant across Aceh, East Kalimantan, East Java, South Sumatra, Riau, Banten, and Nusa Tenggara Timur.
• Other Projects include an asphalt plant in Buton, Southeast Sulawesi (Rp1.5 trillion) with PT Wijaya Karya Tbk (WIKA), geothermal cogeneration in Ulebelu and Lahendong (Rp2.7 trillion) with PT Pertamina Geothermal Energy Tbk (PGEO), Kampung Haji Indonesia in Saudi Arabia with PT PP Tbk (PTPP), and a Rp30 trillion loan to Garuda Indonesia (GIAA).
• Food Sector Project: Revitalization of 20,413 hectares of tambak in Pantura, worth Rp26 trillion, linked to PT Central Proteina Prima Tbk (CPRO).

Market Reactions and Investor Sentiment

Market observer Reydi Octa said that Danantara’s denial of the Rp16 trillion investment could affect investors who had expected a large fund inflow.

Investors who initially planned aggressive positions may now wait for clarity. This could temporarily impact market sentiment, especially for stocks previously seen as potential acquisition targets.

Reydi also noted that the IDX Composite (IHSG) may move sideways in the short term if no other catalysts emerge, but stressed that this does not affect Danantara’s company fundamentals.

PHOTO: JIBI/BISNIS INDONESIA/ARIEF HERMAWAN

This article was created with AI assistance.