Jakarta, June 16 -- The success of Singapore's sovereign wealth fund (SWF) Temasek Holdings inspired Indonesia to launch the Danantara Indonesia Investment Management Agency, President Prabowo Subianto told Singapore Prime Minister Lawrence Wong during a meeting on Monday.

"A few months ago, we started our own sovereign wealth fund, called Danantara (to replicate the Singapore SWF's success)," Prabowo said while delivering a joint statement at the first Leaders' Retreat series between Indonesia and Singapore at the Parliament House, Singapore, on Monday.

He informed that he has studied several successful Singaporean policies, ranging from subsidized housing to the sovereign wealth fund.

His administration is seeking to accelerate the I...