Danantara: DSI to safeguard export transaction accountability in line with market prices
Jakarta (ANTARA) - The Danantara Investment Management Agency (BPI) states that one of the functions of PT Danantara Sumber Daya Indonesia (DSI) is to safeguard the accountability of export transactions in accordance with market prices.
Chief Investment Officer (CIO) Danantara Indonesia, Pandu Sjahrir in a media briefing at Wisma Danantara Indonesia, Jakarta, on Wednesday, said the design of DSI is aimed at ensuring Indonesia’s resources used by the world can return prosperity to the people in an optimal way.
“DSI will perform several roles, namely strengthening transparency and the trading reporting system, ensuring transactions are conducted in an accountable manner and in line with market prices, supporting the management of the country’s foreign exchange more optimally, consolidating data and governance to improve sector efficiency,” Pandu said.
He continued that DSI is a single platform with many benefits that can ensure Indonesia gains greater advantages from what is utilised by the world.
In the same opportunity, Danantara Indonesia Managing Director Stakeholders Management & Communications, Rohan Hafas, explained that the function of DSI will be carried out in two stages.
Phase one runs from 1 June to 31 December 2026, during which DSI will act as evaluator and intermediary for sellers and buyers for certain commodities to be exported.
In the second phase, which will begin in January 2027, DSI will become a trading company. In other words, DSI will buy directly from exporters, hold the goods, and bear the risks of sale and purchase. After that, DSI will sell the goods to the international market.
Income from the sales will be received in foreign currency, depending on the country where the transaction takes place, while continuing to follow best practices in trade.
The proceeds from the sale will then be returned entirely to Indonesia.
The government has formed PT DSI as a company with a special mandate to manage and oversee export transactions of strategic natural-resource commodities.
Its establishment was driven by still-high practices of under invoicing and transfer pricing on a number of Indonesian export commodities for years.
These practices are considered to have negative impacts on state revenue, both in terms of taxation, royalties, foreign exchange, and the validity of national trade data.
Therefore, Danantara formed DSI as a platform to supervise the openness of export transactions, from volume, price, to the mechanism of shipment of commodities.