Indonesia’s New Danantara Investment Fund Readies for Launch
A sweeping overhaul of how Indonesia runs its powerful state companies will create a multibillion-dollar investment vehicle that could give President Prabowo Subianto a major cache of funds to deploy in his effort to supercharge growth. Prabowo will launch the new body, Danantara, at 10 a.m. local time on Monday. It will be both an investment vehicle and a holding company for the state-owned enterprises that dominate swathes of the economy from banking to energy. A recently revised law shows that it will report to the president, giving him greater control of the entities and their billions of dollars in annual dividends.