Jakarta (ANTARA) - The success of Singapore’s sovereign wealth fund (SWF) Temasek Holdings inspired Indonesia to launch the Danantara Indonesia Investment Management Agency, President Prabowo Subianto told Singapore Prime Minister Lawrence Wong during a meeting on Monday.

“A few months ago, we started our own sovereign wealth fund, called Danantara (to replicate the Singapore SWF’s success),” Prabowo said while delivering a joint statement at the first Leaders’ Retreat series between Indonesia and Singapore at the Parliament House, Singapore, on Monday.

He informed that he has studied several successful Singaporean policies, ranging from subsidized housing to the sovereign wealth fund.

His administration is seeking to accelerate the Indonesian subsidized housing program —initiated by the sixth president, Susilo Bambang Yudhoyono, and continued by the seventh president, Joko Widodo.

“We are moving at full speed. I am proud to say that based on the report, Indonesia will build one million low-cost housing units this year,” Prabowo informed.

He then explained that the name Danantara means the future strength of Indonesia, which is to be achieved by utilizing investments for the future generations.

Launched on March 24, 2025, Danantara is led by Rosan Perkasa Roeslani, its chief executive officer (CEO).

The agency has been tasked with managing and optimizing government investments and the assets of state-owned enterprises to support the achievement of national strategic plans and programs.

In April 2025, Prabowo said that Danantara has the potential to manage assets worth over US$1 trillion.

“If we take a closer look at the assets we possess, we will realize that our country is rich. Danantara’s asset value will exceed US$1 trillion— a wealth that can serve as a powerful source of national financial strength, if managed properly,” he added.

He emphasized that professionalism, transparency, and hard work are crucial for increasing the value of Danantara’s assets, which are currently estimated at US$982 billion.

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