Indonesia Investment Authority Ready to Roll after Capital Injection

By Editorial Team 05/11/2021
Assets
Summary

The Indonesian government injected Rp 60 trillion in additional capital into Indonesia Investment Authority (INA) sovereign wealth fund (SWF), as stipulated on Government Regulation (PP) No. 110/2021 and No. 111/2021 on additional state equity participation into investment management institutions capital, in which President Joko "Jokowi" Widodo signed on October 29, 2021.

The paid-in capital comes from Rp 15 trillion from the 2021 State Budget, while the remaining  Rp 45 trillion is from the transfer of government-owned series B shares in two state-owned banks PT Bank Rakyat Indonesia Tbk (BBRI) and PT Bank Mandiri Tbk (BMRI). "Additional capital injection causes the rights attached to ownership of some Series B shares in BRI and Mandiri to be transferred to INA," as written in regulation No. 111/2021. Following the injection, INA's total capital reached Rp 75 trillion, in line with the government's initial commitment.

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