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View all search resultsDanantara export body launches with future role still hazy
The commercial plan is still being evaluated, says the head of PT Danantara Sumber Daya Indonesia (DSI), the newly established company to track commodity exports from Indonesia.
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State asset fund Danantara CEO Rosan Roeslani (center) gestures on Monday during the launch of PT Danantara Sumberdaya Indonesia (DSI) alongside DSI CEO Luke Mahony (right) at the Danantara headquarters in Jakarta. (Courtesy of/Danantara)
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tate asset fund Danantara has formally launched its new export arm PT Danantara Sumber Daya Indonesia (DSI) to tighten government control over the country’s key commodity exports, but the body’s future commercial roles remain unclear.
DSI was still evaluating a plan to become an intermediary in exports of coal, palm oil and ferroalloys, CEO Luke Mahony said at the launch ceremony on Monday.
Mahony was appointed in May to head DSI, an entity set up in in the same month as the export-control arm of Danantara, the Indonesian state asset fund managing around $1 trillion in assets.
The company is currently integrating systems across ministries and agencies to track natural resource and energy exports, including volumes, prices, shipments and transactions and will analyze the data to identify inconsistencies and anomalies in the export process.
“An intermediary is where exports go through DSI. [In] the role of an intermediary, the relationship still remains between the current buyer and seller,” Mahony told reporters after the launch.
“Then from that, we will evaluate the effectiveness of that to identify transfer pricing and underinvoicing,” he added.
DSI also unveiled its board of directors and commissioners, which include as commissioners Tony Wenas, the CEO of copper and gold mining firm PT Freeport Indonesia (PTFI) and Mari Elka Pangestu, who currently serves as presidential envoy for international trade and multilateral cooperation.
