Thursday, November 21, 2024

Pandu Sjahrir tipped to be named Danantara’s Chief Operating Officer soon

Reading Time: 2 minutes
Renold Rinaldi

Journalist

Editor

Interview

A businessman and angel investor Pandu Patria Sjahrir is widely tipped to be appointed as Chief Operating Officer of the Daya Anagata Nusantara Investment Management Agency (BPI Danantara), a sovereign wealth fund mechanism to support Indonesia development financing.

Rumors of Pandu’s likely appointment as COO of BPI Danantara circulated following a coordination meeting on the launch of BPI Danantara co-led by Minister of Investment and Downstream/Head of the Investment Coordinating Board (BKPM) Rosan P. Roeslani and Head of BPI Danantara Muliaman D. Hahad on Sunday, November 3, 2024. 

Pandu attended the meeting along with Deputy Minister of Finance Thomas Djiwandono, Deputy Minister of State-Owned Enterprises (SOEs) Kartika Wirjoatmodjo, Minister of State Secretary Prasetyo Hadi, Deputy Minister of Investment and Downstream Todotua Pasaribu and Head of Presidential Communications Office Hasan Nasbi. Only Pandu who attended in the meeting in his capacity as a non-Cabinet member.

Asked about his appointment as COO of BPI Danantara, Pandu was reluctant to provide more detailed information. 

Pak Muliaman Hadad was already inaugurated as Head of BPI Danantara. As for me, just wait [for the official announcement],” Pandu, a nephew of Chairman of the National Economic Council (DEN) Luhut Binsar Pandjaitan, told journalists on the sidelines of the Launch of the 2024 National Fintech Month in Jakarta, on Monday, November 11, 2024.

Pandu, who is also Chairman of the Indonesian Fintech Association (AFTECH), said that his position at BPIDanantara would be conveyed further so that he could not yet open it to the public.

“Later we can communicate again for that event [his announcement],” he said. 

Documents detailing the Danantara Indonesia Sovereign Fund indicate that BPI Danantara will begin operations with an initial asset base of approximately US$600 billion (Rp9,429.8 trillion) and function similarly to Singapore’s Temasek Holdings, allowing it to invest both domestically and abroad.

Seven major SOEs have been designated to fall under Danantara’s portfolio: Bank Mandiri, Bank Rakyat Indonesia (BRI), State power utility company PT PLN, State energy company PT Pertamina, Bank Negara Indonesia (BNI), Publicly listed State telecommunications company PT Telkom Indonesia, andState mining holding company PT Mineral Industri Indonesia (MIND ID).

Over the next several years, Danantara aims to expand its managed assets to US$982 billion (Rp15,433 trillion), positioning it as the fourth-largest sovereign wealth fund globally.

This gradual expansion will eventually include additional state-owned assets to bolster its portfolio.

Currently, the largest sovereign wealth fund in the world is Norway’s Government Pension Fund Global, managing over US$1.7 trillion.

Renold Rinaldi

Journalist

 

Editor

 

Interview

SUBSCRIBE NOW
We will provide you with an invoice for your reimbursable expenses.

Free

New to Indonesian market? Read our free articles before subscribing to the premium plan. If you already run your business in Indonesia, make sure to subscribe to the premium subscription so you won’t miss any intelligence & business opportunities.

Premium

$550 USD/Year

or

$45 USD/Month

Cancelation: you can cancel your subscription at any time, by sending us an email inquiry@ibp-media.com

Add keywords to your market watch and receive notification:
Schedule a free consultation with us:

We’ll contact you for confirmation.

FURTHER READING

The Association of Indonesian Oil and Gas Companies (Aspermigas) assesses that the energy self-sufficiency target set by President Prabowo Subianto will be difficult to achieve if illegal drilling is still rampant.
The Indonesian Crowdfunding Service Association (ALUDI) expressed its optimism about the prospects of securities crowdfunding (SCF) in Indonesia despite global and domestic economic challenges.
Commissioner General Setyo Budiyanto was elected as Chairman of the Corruption Eradication Commission (KPK) for the 2024-2029 period in a plenary session of the House of Representatives’ (DPR) Law Enforcement Commission III on Thursday, November 21, 2024.
Secretary General of the Indonesian Democratic Party of Struggle (PDI-P), Hasto Kristiyanto, said that the volunteers group of former Governor Anies Baswedan (Anak Abah) had supported the Pramono Anung-Rano Karno pair in the upcoming Jakarta Gubernatorial Election.
Secretary General of the Indonesian Democratic Party of Struggle (PDI-P), Hasto Kristiyanto, has expressed confidence that the party’s candidate pair Pramono Anung-Rano Karno could win the Jakarta Gubernatorial Election in one round.
Confederation of Indonesian Trade Unions (KSPN) has asked the government to handle illegal imported goods that have freely flooded the domestic market by immediately pursuing and arresting the mastermind of smuggling activities in Indonesia.