Jakarta, Jan. 21 -- Indonesia's sovereign wealth fund Danantara Indonesia aims to triple its assets by 2030 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.

"Within five years, we must lift asset value through stronger value creation and reach our goal of tripling it by 2030," Al-Arief said during a panel discussion broadcast on the Ministry of Investment and Downstreaming's YouTube channel.

To achieve the target, Danantara pla...