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 Subianto has been sworn in as Indonesia's eighth president. This completes his journey from an ex-general accused of rights abuses during the dark days of Indonesia’s military dictatorship to the presidential palace.

Former general Prabowo Subianto was sworn in as Indonesia’s eighth president on Sunday, capping a 26-year rise that followed his dismissal from the military over alleged human rights abuses tied to protests that ousted his late former father-in-law and dictator,