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View all search resultsInvestment Authority of Indonesia (IAI) Danantara head Muliaman Darmansyah Hadad said the newly established sovereign wealth fund would act as a manager of government assets “separated” from the state budget.
The longstanding trend of granting key roles in state corporations to supporters of presidential and vice-presidential hopefuls has resurfaced. This time, members of the Prabowo Subianto-Gibran Rakabuming Raka national campaign team (TKN) have been appointed as independent commissioners in state-owned enterprises (SOEs), drawing criticism for alleged political favoritism over merit-based qualifications.
“A superholding may not be the best option. Look at the performance of Temasek and Khazanah. They’re also having problems in the latest economic conditions. We will try to look out for a new mechanism and study the developments,” Jokowi said on Wednesday.
During the last presidential debate on April 13, incumbent President Joko “Jokowi” Widodo said he planned to establish a super holding company that would act as the ultimate parent company for all existing and upcoming holding companies in various sectors.
State-Owned Enterprises Ministry undersecretary for industrial, agricultural and pharmaceutical affairs Wahyu Kuncoro said Kimia Farma’s move to acquire Phapros was in line with the ministry’s plan to establish a pharmaceutical holding company this year.
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