Jakarta, CNBC Indonesia – The government seems to be moving fast in implementing the Omnibus Law Law No. 11/2020 on Job Creation (Ciptaker).
In the page website https://uu-ciptakerja.go.id, several draft government regulations (RPP) have entered into technical guidelines for the implementation of the Ciptaker Law.
One of them is the RPP on the Investment Management Institution (LPI) or popularly known as the manager of the Sovereign Wealth Fund (SWF).
In this RPP, the LPI is defined as the management of assets in the form of money or property or for the benefit of the Central Government which aims to obtain profits, economic benefits and other benefits.
There are two sources of capital for the formation of the LPI, first from state capital participation, in the form of cash funds, state-owned goods, state receivables from BUMN or limited liability companies, and state-owned shares in BUMN or limited liability companies.
LPI’s second source of capital is another.
In this RPP, the source of capital is also set at IDR 75 trillion. In detail, LPI’s initial capital deposit is in the form of cash funds of at least Rp. 15,000,000,000,000.00 and the fulfillment of LPI capital after Rp. 15 trillion of capital is paid in gradually until 2021.
The formation of the LPI aims to increase and optimize the value of investments that are managed in the long term in order to support sustainable development.
It is stated that later the LPI will function to manage investment, in which the LPI is tasked with planning, organizing, supervising and controlling and evaluating investment.
In carrying out the functions and duties of managing investment, the LPI has the authority to:
- placing funds in financial instruments;
- carry out asset management activities;
- cooperating with other parties including trust fund entities;
- determine potential investment partners;
- giving and receiving loans; and / or
- administering assets.
In exercising this authority, LPI can cooperate with third parties including but not limited to investment partners, investment managers, state-owned enterprises, government agencies or institutions, and / or other entities both domestically and abroad.
(hps / bag)
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