economy

CIO Danantara Aims To Unify 889 State-owned Enterprises Under A Single Command

Chief Investment Officer (CIO) of the Investment Management Agency Daya Anagata Nusantara (Danantara Indonesia), Pandu Sjahrir, aims to unify 889 State-Owned Enterprises (BUMN) under the command of Danantara Indonesia.

"For instance, in my current full-time role, we are focusing on all 889 companies at Danantara to operate as a single command, rather than each entity solely considering its own interests. We need to collaborate effectively," stated Pandu during the Digital Economy & Finance Forum organized by the Indonesian Fintech Association (Aftech) in Jakarta on Friday.

He mentioned that this unified command under Danantara Indonesia is intended to facilitate consolidation and cooperation, as a collective effort to achieve a year-on-year growth target of 8 percent, as set forth by President Prabowo Subianto.

"One of the desires expressed by the President is for us all to unite in order to achieve the significant goal of sustainable economic growth at the rate of 8 percent (yoy). Now is the right time to think beyond our individual roles and consider Indonesia as a whole," Pandu remarked.

Danantara Indonesia aims to consolidate the business operations of the current 889 BUMN companies down to fewer than 200.

Following its establishment, Danantara Indonesia has engaged in various investment collaborations with other countries, including corporate actions by providing capital to state-owned enterprises.

Danantara Indonesia has signed a memorandum of understanding (MoU) with the Saudi Arabian company ACWA Power, with a total project funding amounting to 10 billion US dollars, equivalent to Rp162.36 trillion (using the Jisdor exchange rate of Rp16,236 per US dollar).

In partnership with the Qatar Investment Authority (QIA), Danantara Indonesia has formed a strategic alliance to manage an investment fund of 4 billion US dollars aimed at development projects in Indonesia.

From a corporate action perspective, Danantara Indonesia has extended a shareholder loan of Rp6.65 trillion to PT Garuda Indonesia (Persero), Tbk.

In collaboration with the private sector, Danantara Indonesia and PT Chandra Asri Pacific Tbk (TPIA) are working together to support the development of a chlor alkali – ethylene dichloride (CA-EDC) plant, with an investment reaching 800 million US dollars or Rp13 trillion (at an exchange rate of Rp16,289).

Tag: BUMN CIO Danantara Pandu Sjahrir