Latest news with #DayaAnagataNusantara
Business Times
30-06-2025
- Business
- Business Times
Indonesia's sovereign wealth fund Danantara seeks up to US$10 billion loan: sources
[JAKARTA] Indonesian sovereign wealth fund Danantara is seeking a multicurrency borrowing of as much as US$10 billion, in what could be South-east Asia's largest loan, according to people familiar with the matter. Danantara, formally known as Daya Anagata Nusantara, sent a request for proposals to regional and international banks for a loan with tenors of around three to five years, the people said, who asked not to be identified discussing private matters. Lenders have been asked to provide underwritten commitments and proposals on an uncommitted basis, they added. The loan will be unsecured and will not carry any guarantee nor come with letters of comfort or support from the government, the people said, adding that proceeds will be for general corporate purposes. Danantara did not immediately respond to requests for comment. The fund, which reports directly to President Prabowo Subianto, is a core component of the president's vision to propel South-east Asia's largest economy to 8 per cent growth during his presidency. With Indonesian state-owned enterprises under its supervision – including some of the nation's largest banks, oil and gas giant PT Pertamina and the holding company for the government's mining interests – executives have suggested the fund will have more than US$1 trillion in assets. However, many of the details about how Danantara will operate are 'understandably' still unclear given its infancy, making it tricky to discern both the risks and the upsides, said Nicolas Painvin, global head of international public finance at Fitch Ratings in an interview with Bloomberg News in May. Earlier this month, Danantara's managing director Arief Budiman said that the sovereign wealth fund plans to invest in projects from eight sectors, including renewables, digital infrastructure and healthcare. The largest Indonesian loan was from the government itself, which raised a 3 billion euros (S$4.5 billion) facility in September 2023, according to Bloomberg-compiled data. The biggest borrowing from South-east Asia is a US$9.75 billion bridge loan that had backed a Singapore consortium's acquisition of soft drinks producer Fraser & Neave in November 2012, the data showed. The International Financing Review, or IFR, first reported on Danantara's loan. BLOOMBERG
Business Times
30-06-2025
- Business
- Business Times
Indonesia's sovereign wealth fund Danantara seeks up to $10 billion loan: sources
[JAKARTA] Indonesian sovereign wealth fund Danantara is seeking a multicurrency borrowing of as much as US$10 billion, in what could be South-east Asia's largest loan, according to people familiar with the matter. Danantara, formally known as Daya Anagata Nusantara, sent a request for proposals to regional and international banks for a loan with tenors of around three to five years, the people said, who asked not to be identified discussing private matters. Lenders have been asked to provide underwritten commitments and proposals on an uncommitted basis, they added. The loan will be unsecured and will not carry any guarantee nor come with letters of comfort or support from the government, the people said, adding that proceeds will be for general corporate purposes. Danantara did not immediately respond to requests for comment. The fund, which reports directly to President Prabowo Subianto, is a core component of the president's vision to propel South-east Asia's largest economy to 8 per cent growth during his presidency. With Indonesian state-owned enterprises under its supervision – including some of the nation's largest banks, oil and gas giant PT Pertamina and the holding company for the government's mining interests – executives have suggested the fund will have more than US$1 trillion in assets. However, many of the details about how Danantara will operate are 'understandably' still unclear given its infancy, making it tricky to discern both the risks and the upsides, said Nicolas Painvin, global head of international public finance at Fitch Ratings in an interview with Bloomberg News in May. Earlier this month, Danantara's managing director Arief Budiman said that the sovereign wealth fund plans to invest in projects from eight sectors, including renewables, digital infrastructure and healthcare. The largest Indonesian loan was from the government itself, which raised a 3 billion euros (S$4.5 billion) facility in September 2023, according to Bloomberg-compiled data. The biggest borrowing from South-east Asia is a US$9.75 billion bridge loan that had backed a Singapore consortium's acquisition of soft drinks producer Fraser & Neave in November 2012, the data showed. The International Financing Review, or IFR, first reported on Danantara's loan. BLOOMBERG
Bloomberg
30-06-2025
- Business
- Bloomberg
Danantara Seeks Up to $10 Billion Loan, Southeast Asia's Largest
Indonesian sovereign wealth fund Danantara is seeking a multicurrency borrowing of as much as $10 billion, in what could be Southeast Asia's largest loan, according to people familiar with the matter. Danantara, formally known as Daya Anagata Nusantara, sent a request for proposals to regional and international banks for a loan with tenors of around three to five years, the people said, who asked not to be identified discussing private matters. Lenders have been asked to provide underwritten commitments and proposals on an uncommitted basis, they added.
Business Times
26-06-2025
- Business
- Business Times
Indonesia's sovereign wealth fund looks to invest abroad, with sights set on energy assets
[JAKARTA] Indonesia's sovereign wealth fund, Daya Anagata Nusantara (Danantara), is exploring global investment opportunities as part of its strategy to strengthen the country's position in the international market. And one potential target, said its chief investment officer (CIO), is the energy sector in the United States. Speaking at the Asia Economic Summit in Jakarta on Thursday (Jun 26), Pandu Sjahrir emphasised that any overseas investment must deliver strategic value to Indonesia, particularly through technology transfer and capacity-building. 'We can invest anywhere in the world, but if it's outside Indonesia, there must be a clear strategic benefit, whether it's knowledge transfer, technology access, or strengthening Indonesia's role in the global value chain,' he said. He pointed to the energy sector as an example, noting that Indonesia still imports a significant amount of crude oil from the United States. 'So why not own a foreign oil company and buy from ourselves? That could be a strategic move to support our energy security.' Danantara manages US$900 billion in assets and oversees around 50 state-owned enterprises (SOEs) along with more than 800 subsidiaries. The sovereign wealth fund views global expansion as a key strategy for scaling up and enhancing the competitiveness of Indonesian SOEs, said Sjahrir. ' We can invest anywhere in the world, but if it's outside Indonesia, there must be a clear strategic benefit, whether it's knowledge transfer, technology access, or strengthening Indonesia's role in the global value chain. ' — Pandu Sjahrir, CIO of Danantara Its CEO, Rosan Roeslani, indicated earlier this month that Danantara planned to allocate up to 20 per cent of its capital to overseas investments, signalling a tactic to capture global assets that align with Indonesian interests. A NEWSLETTER FOR YOU Friday, 8.30 am Asean Business Business insights centering on South-east Asia's fast-growing economies. Sign Up Sign Up In a recent move reflecting this, the fund played a key role in supporting state-owned energy giant Pertamina's acquisition of a 20 per cent stake in Citicore Renewable Energy Corporation, a Philippine renewable energy company, in a transaction valued at US$120 million. Sjahrir described it as a strategic investment for Pertamina to strengthen its presence in the global oil sector. More global talent During the panel, the CIO noted that while Danantara continued to prioritise domestic investments, it also recognised the importance of international opportunities to achieve long-term goals – particularly amid increasing global competition for talent and advanced technologies. 'This is also about human capital development. One of our top priorities is to boost productivity per capita, and that's not possible without knowledge transfer from abroad,' he added. Danantara has already begun hiring international talent for key positions within the organisation. This move, Sjahrir said, is aimed at accelerating capacity-building and improving the operational efficiency of the companies under its management. Recently, the fund invited Sunata Tjiterosampurno, managing director and co-CIO at Northstar Group – which is a private equity firm and early backer of Gojek – to join. The fund also plans to recruit foreign talent to support its flagship airline, Garuda Indonesia, to which it recently extended a US$405 million capital loan. 'We now have a double-digit number of foreign talents working within Danantara. Depending on their roles, they contribute valuable expertise and help with knowledge transfer,' Sjahrir said.
Straits Times
16-06-2025
- Business
- Straits Times
Indonesia will ‘copy' Singapore's successful policies with pride, says President Prabowo
Indonesian President Prabowo Subianto said he had spent some time in Singapore as a boy and witnessed the early days of Singapore's development. ST PHOTO: JASON QUAH SINGAPORE - Singapore has done well in providing housing for its people and in managing its reserves for future generations, and Indonesia has copied these policies with pride, said Indonesian President Prabowo Subianto during a state visit on June 16. To this end, Indonesia is pushing ahead with its initiative to build one million apartments to house lower-income citizens, modelled after Singapore's HDB programme, and has also set up sovereign wealth fund Daya Anagata Nusantara, or Dhanantara, earlier this year, its version of Singapore's Temasek. Speaking during a joint press conference with Prime Minister Lawrence Wong at Parliament House, Mr Prabowo said he had spent some time in Singapore as a boy and witnessed the early days of Singapore's development. 'To be very frank, I've always admired the success of Singapore, and especially the success of the early leaders of Singapore, the leadership, statesmanship,' said the Indonesian President. 'In real life, we are not allowed to copy our friends homework or our friends. But in real life, why not copy best practice, right? It's called copy with pride.' He added that imitation was the highest form of respect, and cited Singapore's orchid diplomacy as another area that Indonesia might want to 'copy'. 'If you are imitated, that means you must be doing something good,' said Mr Prabowo who was presented with an orchid named after his mother, the late Mrs Dora Sigar Soemitro, at a ceremony officiated by President Tharman Shanmugaratnam. The Paraphalanthe Dora Sigar Soemitro has long pencil-shaped leaves and blush pink flowers with a golden forked lip marked with crimson spots. It can grow to some 40cm in length with eight to 12 flowers on each stem, with each flower measuring about 7cm wide. President Tharman said the orchid, a beautiful hybrid with a lineage that includes Singapore's Vanda Miss Joaquim and a rare Indonesian species from Kalimantan, expresses the ties between both countries, which go far back into history. Both Singapore and Indonesia were part of a 'dance of civilisations' - initially Hindu and Buddhist, then Muslims, Christian and Taoist - that shaped Southeast Asia over the centuries, he added. 'That blend of cultures remains alive in our common heritage to this day,' said President Tharman in a Facebook post on June 16, after he hosted a state banquet for Mr Prabowo. He noted that the late Zubir Said, composer of Singapore's national anthem, had also come to Singapore from Sumatra in 1928. Mr Prabowo said he was touched that the unique orchid was named after his late mother. His mother, who died in 2008, was from a prominent Minahasa family with both Minahasan and German ancestry. She met Mr Prabowo's father, Mr Soemitro Djojohadikusumo, when they were studying in the Netherlands. 'I was given the honor of nominating a name, and I nominated the name of my mother to give respect to her for having raised me. For having raised maybe a difficult boy in his younger days, but finally, he became president of Indonesia,' Mr Prabowo said. 'I'm very proud that my mother is honored in this way.' Join ST's WhatsApp Channel and get the latest news and must-reads.
