Jakarta (ANTARA) - Indonesia’s state wealth fund, Danantara, emphasized that its newly established critical natural resources export arm will run a profit-oriented business.

“As it happens to be under Danantara, called Danantara Sumberdaya Indonesia (DSI), the initial idea was to become a state-owned enterprise that must be profit-oriented,” Danantara CIO Pandu Sjahrir said in Jakarta on Tuesday (May 26).

He added that DSI will initially operate as an agent or intermediary business model before developing other functions according to its human resources capacity.

Pandu also confirmed that the establishment of DSI was proceeding quickly. The export agency was only established last week, and on Monday (May 25) officially became an SOE with 99 percent ownership by Danantara and 1 percent by the SOE Management Agency (BP BUMN).

DSI has been specifically tasked with managing and overseeing export transactions for strategic natural resource commodities, with an initial focus on coal, crude palm oil (CPO) and ferroalloys.

DSI will operate in two phases. During the first phase, from June 1 to December 31, 2026, DSI will function as an appraiser and intermediary between sellers and buyers of selected export commodities.

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In the second phase, targeted to begin in January 2027, DSI will transform into a trading company that directly purchases commodities from domestic exporters and then sells them to the international market.

The establishment of DSI is expected to strengthen Indonesia's bargaining position with international buyers, considering the country’s dominant position in the global coal and CPO markets, Sjahrir noted.

"Ultimately, our main focus is building our business, opening up a larger total addressable market for our natural resources. We want to maximize revenue for our country," he said.

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Responding to a question regarding possible sanctions for businesses exporting without going through DSI in June, he emphasized that this is the regulator's responsibility.

He added that DSI only plays an intermediary role, while the government as the regulator will determine the sanctions.

"We must focus on business as usual. Let business continue without any obstacles," Sjahrir concluded.