Regulations
Corporate filings show Danantara chief technology officer Sigit Puji Sentosa is expected to lead new fund DDMF, while Rachmat Kaimuddin, currently deputy for basic infrastructure coordination at the Office of the Coordinating Infrastructure and Regional Development Minister, has been appointed to its executive team.
Wisma Danantara Indonesia stands out on July 8, 2025, on Jl. Jenderal Sudirman, Central Jakarta. (Antara/Hafidz Mubarak A)
State asset fund Danantara has quietly established a new investment vehicle that could channel funding from the state budget into President Prabowo Subianto’s infrastructure projects, including the Giant Sea Wall along Java’s northern coast and the three-million-home program.Experts warned that layering the new fund onto Danantara’s commercial mandate could expose the state budget to greater risks unless it is backed by strong governance, something Indonesia’s infrastructure projects have historically lacked.
Corporate records filed with the Law and Human Rights Ministry show the new entity, PT Danantara Development Management Fund (DDMF), was established in April, shortly after Government Regulation No. 19/2026 amended Danantara's governance framework to allow the state asset fund to establish additional investment holding companies.
