Indonesia's new sovereign wealth fund is exploring investment in dozens of projects, including toll road concessions worth $2.6 billion, in its first foray into infrastructure assets, a deputy minister said on Wednesday.
Tuesday, 16 Feb 2021 03:20 PM MYT
Finance Minister Sri Mulyani Indrawati, who heads INA’s supervisory council, told a news conference that Jokowi had said the fund must be managed to avoid the fate of 1MDB. Reuters pic
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JAKARTA, Feb 16 Indonesian President Joko Widodo today named a senior banker, Ridha D.M. Wirakusumah, as the chief executive of the country’s new sovereign wealth fund, which has a target of managing US$20 billion (RM81 billion) and financing infrastructure projects.
Jokowi, as the president is popularly known, also named other professionals for posts on the board of directors of the fund, the Indonesia Investment Authority (INA).
By Reuters Staff
1 Min Read
JAKARTA, Feb 16 (Reuters) - Indonesian President Joko Widodo has named the chief executive of Bank Permata, Ridha D.M. Wirakusumah, as the chief executive of the country’s new sovereign wealth fund, CNBC Indonesia reported on Tuesday, citing sources.
The president is due to formally announce the appointment to the public later today, the news outlet reported.
The president’s office did not immediately respond to a request for comment, while a spokesman at the state-owned enterprises ministry declined to comment. (Reporting by Gayatri Suroyo, Maikel Jefriando and Tabita Diela Editing by Ed Davies)
Ridha D.M. Wirakusumah.
JAKARTA (Reuters): Indonesian President Joko Widodo on Tuesday (Feb 16) announced the appointment of a senior banker, Ridha D.M. Wirakusumah, as the chief executive of the country s new sovereign wealth fund, which has a target of managing US$20 billion in funds.
Jokowi, as the president is popularly known, also named other professionals for posts on the board of directors of the fund, the Indonesia Investment Authority (INA).
The INA aims to attract foreign funds as co-investors, unlike some funds set up by other countries to manage oil revenues or foreign exchange reserves.
There has been scrutiny over the governance of INA particularly in the wake of a corruption scandal and massive losses involving neighbouring Malaysia s 1MDB fund.