Indonesia Names Former Bank Permata CEO as SWF Head
Posted on 02/16/2021
Indonesia has named Ridha Wirakusumah as the chief executive officer of its new strategic development sovereign wealth fund (SDSWF). The Indonesian Investment Authority, also referred to as the Nusantara Investment Authority, has a new slate of executives. Indonesian President Joko Widodo briefed media about the hiring of candidates. This also includes Arief Budiman, a former director of oil and gas giant PT Pertamina, who will serve as deputy CEO. Also joining the SWF is Stefanus Ade Hadiwidjaja, previously with private equity firm Creador Capital Group, will be director of investment. Last, Marita Alisjahbana of Citibank Indonesia will be director of risk, while the director of finance will be Eddy Porwanto, formerly the chief financial officer of flag carrier PT Garuda Indonesia.
Sovereign Wealth Funds and Foreign Pensions Have Mostly Avoided Indonesian Infrastructure
Posted on 02/12/2021
Indonesia is strategically situated between two oceans – the Pacific and Indian Oceans and two continents – Asia and Australia. Despite the geopolitical benefits and vast natural resources of Indonesia, sovereign investors have found opportunities in the periphery, selecting other countries in Asia. Country-wise, Japan and Singapore have been key contributors to Indonesia’s foreign direct investment in recent times.
Direct Investments by Sovereign Wealth Funds and Foreign Public Pensions in Indonesia
Source: SWFI.com. Global Asset Owner Database. Fund commitments excluded.
By analyzing direct investments by sovereign wealth funds and overseas public pensions, most direct investments in Indonesia went toward materials, consumer tech, and banking. These sovereign investors preferred the natural resource plays before 2016, switching to banking in 2017, and then makin
(Dec 29): President Joko Widodo is planning to raise his target for Indonesia’s new wealth fund to as much as US$100 billion in funding next year, according to people familiar with the matter.
Jokowi discussed the new goal, raised from the previously announced 225 trillion rupiah (US$16 billion), in meetings with government officials and political allies as recently as early December, said the people, who asked not to be named, as they’re not authorised to speak on the matter.
Southeast Asia’s largest economy is betting on big-ticket projects to drive a turnaround in the economy next year, with the fund named Nusantara Investment Authority set to play a key role in financing them.
1MDB scandal casts pall over Indonesia wealth fund ambitions freemalaysiatoday.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from freemalaysiatoday.com Daily Mail and Mail on Sunday newspapers.
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