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Indonesia Investment Authority

Indonesia Investment Authority
Native name
Lembaga Pengelola Investasi
Company typeSovereign wealth fund
FoundedFebruary 2021; 4 years ago (2021-02)
HeadquartersProsperity Tower,
Jakarta
,
Indonesia
Key people
Ridha D. M. Wirakusumah (CEO)
Revenue
  • Increase Rp5.42 trillion (2023)
  • Rp3.45 trillion (2022)
  • Increase Rp5.61 trillion (2022)
  • Rp2.62 trillion (2022)
Total assets
  • Increase Rp118.87 trillion (2023)
  • Rp99.85 trillion (2022)
Total equity
  • Increase Rp113.73 trillion (2023)
  • Rp96.95 trillion (2022)
OwnerGovernment of Indonesia
SubsidiariesPT Rafflesia Investasi Indonesia
PT Abhinaya Investasi Indonesia
PT Swarna Investasi Indonesia
PT Akar Investasi Indonesia
PT INA DP World
Websitewww.ina.go.id
Footnotes / references
[1]

The Indonesia Investment Authority (INA; Indonesian: Lembaga Pengelola Investasi, lit. 'Investment Management Agency', LPI) is the sovereign wealth fund of Indonesia.

History

The INA was launched in February 2021 as part of the Job Creation Law and is intended to attract investments, create jobs and to boost economic growth as well as to strengthen the country's economy by diversifying into new asset classes.[2][3][4] It has a target of managing $24.5 billion of assets. Unlike sovereign wealth funds of other countries which manage excess oil revenues or foreign exchange reserves, the INA seeks foreign funds as co-investors to finance the country's economic development.[5]

In 2022, INA became a Full Member of the International Forum of Sovereign Wealth Funds non profit organization.[6][7] Also in 2022, INA founded it’s subsidiary PT Maleo Investai Indonesia.[8] Other subsidiaries include PT Rafflesia Investasi Indonesia, PT Abhinaya Investasi Indonesia, PT INA DP World, PT Swarna Investasi Indonesia and PT Akar Investasi Indonesia.[9][10][11][12]

In 2023, the fund’s net profit increased 64.1% from the previous year to 4.30 trillion rupiah with the revenue increasing by 57.1% to 5.42 trillion rupiah.[13]

Budget

INA had received commitments of up to $10 billion prior to its launch from global companies and agencies such as the U.S. International Development Finance Corporation and the Japan Bank for International Cooperation, as well as a few foreign pension funds.[14] The Indonesian government will support the fund with $5 billion in cash and other assets. The United Arab Emirates has announced a plan to invest $10 billion in INA.[15] For the financing of infrastructure projects, an additional US$4.2 billion has been allocated and added to the fund in November 2021.[16]

Governance

INA reports directly to the President of Indonesia. The supervisory board is headed by the Finance Minister, the State Owned Enterprises Minister is also a member of the board.[1]

Board of directors

  • CEO - Ridha Wirakusumah[17]
  • Deputy CEO - Arief Budiman[18]
  • Investment Director - Stefanus Ade Hadiwidjaja
  • Risk Director - Thomas Sugiarto Oentoro[19]
  • Finance Director - Eddy Purwanto

Supervisory Board

  • Chairwoman and Supervisor - Finance Minister Sri Mulyani (ex officio)[20]
  • Supervisor - State Owned Enterprises Minister Erick Thohir (ex-officio)
  • Supervisor - Darwin Cyril Noerhadi
  • Supervisor - Erwandi Hendarta[21]
  • Supervisor - Hariyanto Sahari

Investments

From its implementation in 2021 until June 2023, more than $3 billion in capital has been invested by the fund, such as the $800 million into Mitratel in a partnership with the Abu Dhabi Investment Authority, the Abu Dhabi Growth Fund and the GIC. The INA also invested $150 million into Kimia Farma together with the Silk Road Fund, as well as $500 million into Pertamina Geothermal Energy together with Masdar and $300 million into Traveloka.[22][23] The INA signed an investment pact in April 2022 for the development of toll roads located on Java and Sumatra.[24] In June 2023, the INA partnered with MCUDI and ESR Group for investments into three logistic parks in Indonesia.[25] According to Ministry of Foreign Affairs of Indonesia, INA has reached agreement with DP World from United Arab Emirates to develop and improving the infrastructures of Port of Belawan, Medan, in June 2023. This cooperation also involved Prima Terminal Petikemas Ltd, a subsidiary of Pelindo.[26][27] The INA acquired two Trans-Sumatra Toll Road portions for 12.5 trillion rupiah from PT Hutama Karya in July 2023.[28]

The INA allocated 20% of its total investments into the new renewable energy sector in November 2023.[29] In October 2024, the INA invested into two toll-road sections, bringing its new assets to about $1.4 billion.[30]

See also

References

  1. ^ "Audited Financial Statement 2022". Indonesia Investment Authority. p. 1-4. Retrieved 29 March 2024.
  2. ^ Shofa, Jayanty Nada (February 16, 2021). "Indonesia's Sovereign Wealth Fund Unveils Initial Strategy to Attract Investors". Jakarta Globe. Retrieved 24 March 2021.
  3. ^ "'Prioritized': Indonesia to establish $5b sovereign wealth fund to support economy - Business". The Jakarta Post. Retrieved 2025-01-10.
  4. ^ Pakpahan, Manuel (2020-11-03). "Awaiting the Indonesia Investment Authority". kompas.id (in Indonesian). Retrieved 2025-01-10.
  5. ^ "New Indonesia sovereign wealth fund eyes assets worth $2.6 bl". Reuters. Retrieved 24 March 2021.
  6. ^ Ridha D.M. Wirahkusuma (2024). "Insight: Understanding sovereign wealth funds and their application in Indonesia". PT. Bina Media Tenggara. thejakartapost.com. Retrieved 2025-01-10.
  7. ^ "Legislation". www.ina.go.id. Retrieved 2025-01-10.
  8. ^ "What Did the INA, Indonesia's Sovereign Wealth Fund, Do in 2022?". thediplomat.com. Retrieved 2025-02-19.
  9. ^ "Waskita Karya and INA to invest in the Trans Java toll road | IDNFinancials". www.idnfinancials.com. Retrieved 2025-02-19.
  10. ^ "How the Indonesia Investment Authority Built Its Portfolio in 2023". thediplomat.com. Retrieved 2025-02-19.
  11. ^ "INA, Hutama Karya wrap up sale of Trans-Sumatra road sections - Companies". The Jakarta Post. Retrieved 2025-02-19.
  12. ^ "Unlocking the Value of its Subsidiaries KF Conducts Share Transfers with AII and CIZJ". kimiafarma.co.id. Retrieved 2025-02-19.
  13. ^ "INA and co-investors invest 50.1 trillion rupiah since 2021 | Asia Asset Management". www.asiaasset.com. Archived from the original on 2024-07-03. Retrieved 2025-01-10.
  14. ^ Bisara, Dion (24 March 2021). "UAE Unveils $10b Commitment to Indonesia's SWF, the Largest So Far". Jakarta Globe. Retrieved 24 March 2021.
  15. ^ "UAE to invest $10 billion in Indonesia's sovereign wealth fund". Reuters. Retrieved 24 March 2021.
  16. ^ "Indonesia injects $4.2bn into sovereign wealth fund for infrastructure". Pinsent Masons. 2025-10-01. Retrieved 2025-01-10.
  17. ^ Aditya, Arys; Jiao, Claire (16 February 2021). "Indonesia Names Wirakusumah to Helm $100 Billion Wealth Fund". Bloomberg. Retrieved 8 April 2021.
  18. ^ "Indonesia's New Sovereign Wealth Fund: Professionals Provide Some Comfort, But Challenges Remain". FULCRUM. 2021-02-18. Retrieved 2025-01-15.
  19. ^ "Thomas Sugiarto Oentoro | Chief Risk Officer | Indonesia Investment Authority". www.ina.go.id. Retrieved 2025-01-15.
  20. ^ Adyatama, Egi (27 January 2021). "Jokowi Inaugurates Indonesia Investment Authority Supervisory Board". Tempo.co. Retrieved 8 April 2021.
  21. ^ "Indonesia wealth fund INA names senior lawyer Erwandi Hendarta to supervisory board". Asia Asset Management. 2025-02-04. Retrieved 2025-02-26.
  22. ^ SimonHadley. "Leveraging Indonesia's demographic dividend". OMFIF. Retrieved 2025-01-15.
  23. ^ "INA seals 'good deal' in OTA business with $300m in funding for Traveloka - Sat, October 1, 2022". The Jakarta Post. Retrieved 2025-01-15.
  24. ^ "Indonesia wealth fund agrees to invest $2.7bn in toll roads". Nikkei Asia. Retrieved 2025-01-15.
  25. ^ Ting, Yong Hui (2023-05-29). "Indonesia's sovereign wealth fund, ESR, Mitsubishi jointly investing in three Indonesian logistics parks". The Business Times. Retrieved 2025-01-15.
  26. ^ Nair, Arya M. (2023-06-23). "DP World & INA's consortium sign deal for Indonesia's seaport Management - GCC Business News". www.gccbusinessnews.com. Retrieved 2025-01-16.
  27. ^ "DP World takes over operations at Belawan New Container Terminal". www.seatrade-maritime.com. Retrieved 2025-01-16.
  28. ^ "Hutama Karya toll road acquisition: INA spends Rp12.5 trillion". PwC. Retrieved 2025-01-15.
  29. ^ Isaac, Julian (2023-11-02). "The Indonesia Investment Authority (INA) allocated IDR 28 trillion of its total investment fund to new renewable energy sector accelerating Indonesia's energy transition". Indonesia Business Post. Retrieved 2025-01-16.
  30. ^ "Indonesian sovereign wealth fund INA's platform invests in Trans Sumatra Toll Roads". Reuters. 2024-10-28. Retrieved 2025-01-16.


Quelle: https://en.wikipedia.org/wiki/Indonesia_Investment_Authority