Deputy Minister Thomas Ensures Danantara is Not Ready to Launch Early 2025

Jakarta – Deputy Minister of Finance Thomas Djiwandono revealed that the Daya Anagata Nusantara (Danantara) Investment Management Agency (BPI) will not be inaugurated earlier this year or in January 2025.

“Not yet this January [Danantara will be inaugurated],” Thomas said at the 2025 Early Year Spirit Event, Wednesday, January 15, 2025.

Thomas explained that the regulatory framework of Danantara is not yet fully clear. This is because the implementation of the process of transferring funds from a number of state-owned enterprises to be managed by Danantara is more complicated than expected.

“This is more because the President feels that our regulatory framework needs to be clearer. It’s not a problem, but the conditions are more complicated than we thought,” he said.

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As is known, President Prabowo formed a new body to manage State-Owned Enterprises (SOEs) and investments called the Daya Anagata Nusantara Investment Management Agency or BPI Danantara.

Prabowo Subianto was scheduled to inaugurate the investment management agency (BP), Daya Anagata Nusantara (Danantara) on Thursday, November 7. However, the inauguration plan was canceled and has not been carried out until now.

According to information obtained by Infobanknews, Danantara will become a sovereign wealth fund or asset manager with an initial managed fund of USD600 billion or equivalent to IDR9,429.8 trillion (IDR15,716 per USD).

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Reportedly, there are three jumbo asset state-owned banks joining Danarta. Among them are PT Bank Mandiri Tbk, PT Bank Rakyat Indonesia Tbk, and PT Bank Negara Indonesia Tbk.

Apart from banks, there are other state-owned companies joining Danantara, namely PT PLN, Pertamina, PT Telkom Indonesia Tbk (TLKM), MIND ID, and Indonesia Investment Authority (INA).

Meanwhile, Danantara itself is commanded by Muliaman Darmansyah Hadad as head, with Kaharuddin Djenod Daeng Manyambeang as deputy head. Both were appointed through Presidential Decree Number 142/P of 2024. (*)