Indonesia Turns to Temasek as Model for Sovereign Investment
- Finance minister wants holding company for state entities
- Economy needs to diversify away from commodities, consumption
Bambang Brodjonegoro.
Photographer: Dimas Ardian/BloombergThis article is for subscribers only.
Indonesia is turning to Singapore’s Temasek Holdings Pte. as a model to create a sovereign investment company to drive development in Southeast Asia’s biggest economy.
The government is considering starting an investment holding company for four or five state-owned entities, which could then buy shares in Indonesian companies, Finance Minister Bambang Brodjonegoro said in an interview in Jakarta on Monday. If the fund is successful, it may over time invest in assets overseas, as Temasek did, he said.