Indonesian President Prabowo Plans New State Investment Firm

INVESTMENT - JAKARTA. Indonesian President Prabowo Subianto wants to establish a new investment agency that would become a holding company for state investments, similar to Singapore's Temasek, the official named to head the proposed firm said on Tuesday.

Prabowo, 73, took office on Sunday and has since sworn in more than 100 people as ministers and deputies, heads of new institutions and advisers.