Audited Financial Statements
INA publishes its audited financial statements every year that adhere to International Financial Reporting Standards (IFRS).
The investment disbursement realization in 2023 was directed to various strategic sectors: healthcare, green energy and transformation, toll road infrastructure, logistics warehouse infrastructure, and digital infrastructure."
The Year of Portfolio Building
In 2023, Indonesia Investment Authority (INA) entered its third year of operations. INA has designated the year as "The Year of Portfolio Building", representing a strategic focus on establishing a high-quality and value-added investment portfolio. The initiative is part of INA's ongoing development and refining process to meet its founding mandate to help improve Indonesia's investment climate.
Since its inception, INA has succeeded in bringing co-investors and secured investment commitments from both global and local investors, with a cumulative total investment commitment of more than USD25 billion or approximately Rp 400 trillion. In 2023, INA signed several agreements to make joint investments with potential partners on a global and local scale.
INA and co-investors have successfully disbursed investments amounting to Rp29.6 trillion or approximately USD1.9 billion. Out of the total disbursement with co-investors, Rp19.6 trillion (equivalent to USD1.3 billion) represents INA's investment portion. This achievement represents a 152.6% growth compared to 2022.
With these achievements, the cumulative total investment disbursement by INA, since its inception, and co-investors has reached approximately Rp50.1 trillion (equivalent to USD3.2 billion), and the total investment distribution portion by INA has reached Rp31.3 trillion (equivalent to USD 2.1 billion).
INA disburses investments in accordance with the sector focus policy outlined in its investment strategy. The investment disbursement realization in 2023 was directed to various strategic sectors: healthcare, green energy and transformation, toll road infrastructure, logistics warehouse infrastructure, and digital infrastructure.
INA's investment value has grown continuously, as indicated by the development of INA's total Asset Under Management (AUM) with co-investors in 2023, reaching Rp147.6 trillion (equivalent to USD9.5 billion), a year-on-year growth of 34.3%.
Following a series of processes in 2023, Fitch Rating officially assigned INA a credit rating of BBB (Stable) for international credit and AAA (idn) for national credit on 6 February 2024. This credit rating affirms INA’s creditworthiness and strength in the banks’ perspectives and potential co-investors. The rating also reflects INA's central role as Indonesia's only sovereign wealth fund, which facilitates various policy initiatives and drives the country's economic progress.
From a financial standpoint, INA's financial position as of 31 December 2023 corresponds with the set annual targets. INA recorded a profit of Rp4.3 trillion, exceeding projections and growing by 64.0% from the previous year.
The net profit achievement is backed by total revenue of Rp5.4 trillion, which derived from interest income from the investment portfolio and treasury assets, dividend income from in-kind shares, and revenue from unrealized gain mark-to-market investments. This financial performance is attributable to the performance of INA's investment portfolio and the prudent and disciplined optimization of INA's asset management, including overall cost management.
