May 20, 2026 | 11:18 pm
TEMPO.CO, Jakarta - Indonesia's sovereign wealth fund Danantara will soon announce the board of directors who will manage the country's new export body PT Danantara Sumber Daya Indonesia (DSI). PT DSI is a new state-owned company set to oversee the export of several strategic commodities, such as coal and crude palm oil (CPO)."The announcement will be made soon since we must recruit the best candidates," said Managing Director Stakeholders Management & Communications of Danantara Indonesia, Rohan Hafas, during a press conference at Wisma Danantara, Jakarta, on Wednesday, May 20, 2026.Danantara has already secured candidates who will become the top officials of the new state-owned company. But the synchronization and technical preparations remain underway across economic ministries, thus the names will be announced in due course. PT DSI, he said, will not act as a party that determines the selling price of commodities, but only tasked to oversee transactions to ensure that export prices aligns with market mechanisms and to prevent under-invoicing and underpricing practices.According to him, coal and CPO prices already have international references, so trade still follows global market prices. There's no need to exaggerate government pricing intervention, he said.The new export agency aims to strengthen export oversight and prevent revenue leakage due to manipulation of export values. He claimed that since 1991, under-invoicing practices have caused potential state loss of around Rp15,400 trillion."For 34 years of under-invoicing, the amount is around Rp15.4 quadrillion, so nearly Rp5 quadrillion per year," he said.The government has currently designated two commodities to be exported through PT DSI, namely coal and CPO.President Prabowo Subianto previously said that the government will require the export of certain strategic natural resource commodities to be carried out through state-owned enterprises appointed as the sole exporters. It initially includes the export of palm oil, coal, and ferroalloy.During his speech at the plenary session of the parliament today, Prabowo said the policy aims to strengthen export oversight, reduce transfer pricing and under-invoicing practices, and ensure optimal export proceeds.Read: Prabowo Says New Export Agency Secured $150 Billion in SavingsClick here to get the latest news updates from Tempo on Google News
