Jakarta, Jan. 21 -- Indonesia's sovereign wealth fund Danantara Indonesia aims to increase its assets by overhauling and consolidating hundreds of state-owned enterprises, a senior executive said Tuesday at the World Economic Forum in Davos.

Managing Director for Global Relations and Governance Mohamad Al-Arief said Danantara's current assets stand at about $900 billion, equivalent to roughly 15.29 quadrillion rupiah at an exchange rate of Rp16,985 per dollar.

"We must lift asset value through stronger value creation," Al-Arief said during a panel discussion broadcast on the Ministry of Investment and Downstreaming's YouTube channel.

To achieve the target, Danantara plans to merge 1,068 state-owned enterprises into about 221 entities w...