Stock market observer, Yanuar Rizky, questioned aspects of governance and transparency in the management ofthe newly established Daya Anagata Nusantara Investment Agency (BPI Danantara).

Yanuar reminded that the main principle in financial market is to avoid nepotism and conflicts of interest. He emphasized the importance of ensuring that the rules governing BPI Danantara have ratified the anti-nepotism principle according to international standards.

"The law on financial market governance is 'say no to nepotism'. All countries, including Indonesia, have rules to prevent corruption through market mechanisms," Yanuar spoke to Indonesia Business Post on Tuesday, March 11, 2025.

He highlighted the potential for conflicts of interest in the management of state assets that were included in BPI Danantara. He questioned whether the institution was truly established for the collective welfare of the nation or merely an economic instrument for certain groups.

"State assets are invested in Danantara, but the law states that Danantara is not a state administrator. Is Danantara really meant to strengthen the State? Or are there other interests behind it?" Yanuar said.

Yanuar said further that the statement made by American investor and founder of Bridgewater Associates, Ray Dalio, who was included in the Danantara Supervisory Board, sounds like jargon.

"Ray Dalio has been a money maker all his life. His statement sounds like a politician's jargon, such as 'satrio piningit' or 'demigod' like in Iwan Fals' song," he said.

Ray Dalio spoke before a number of Indonesian tycoons at the State Palace in Jakarta on Friday, March 7, 2025that his decision to join BPI was not driven by material interests.

"I'm not here for the money. I've made a lot of money," Dalio, who is known to manage funds worth US$112 billion or around Rp1,825 trillion from his hedge fund company, said.

Dalio, who is now 75 years old, stated that his current focus is on contributing to the world, especially in helping developing countries accelerate their economic growth. He cited his involvement in supporting economic reform in China with Deng Xiaoping in 1994 and in Singapore with Lee Kuan Yew.

"I see Indonesia as having great potential, and I see Prabowo as a leader who has the ability to transform the Indonesian economy," he said.