JAKARTA: The Indonesian government is currently designing Danantara, a super holding company for state-owned enterprises (SOEs) that is expected to become a new locomotive in managing national assets.
This model aims to consolidate various state-owned companies to be more efficient, competitive and capable of funding strategic investments without relying entirely on the state budget. However, behind this grand ambition, there is an important lesson to be learned from: the 1Malaysia Development Berhad (1MDB) scandal in Malaysia.
