Jakarta. Indonesian sovereign investment agency Danantara has denied spending money to sponsor the TIME100 Next Gala 2026 in New York, despite being listed by TIME magazine among the companies and organizations presenting the event on Oct. 29.

Danantara spokesperson Pahala Mansury said the agency's name and logo appeared at the event as part of preliminary discussions with TIME over potential non-financial cooperation involving international forums.

"The inclusion of Danantara's logo at the TIME100 Next Gala was part of an in-kind, non-financial support arrangement provided by TIME, alongside ongoing discussions on potential cooperation at international forums such as the TIME Davos Forum," Pahala said in a statement.

He added that Danantara had neither made any sponsorship payments nor allocated funds to sponsor the New York event.

However, TIME identified Danantara as one of the event's presenters in an article about the gala.

"The TIME100 Next Gala was presented by Rolex, Toyota, American Airlines, Danantara, Project Management Institute, and Target," the magazine wrote.

It said the gala  "offered an opportunity for leaders across industries including health, climate, business, sports, entertainment, and more to meet and exchange ideas."

The designation raised questions about the nature of Danantara's involvement, although it does not, by itself, establish that the Indonesian investment agency paid a sponsorship fee.

Pahala said the appearance of Danantara's branding reflected early support from TIME as the two organizations explored a broader strategic relationship.

He did not provide further details on the commercial terms of the proposed cooperation or explain whether the use of its branding at the New York gala involved any contractual obligations.

Exploring International Partnerships
According to Pahala, the discussions are focused on opportunities to introduce Indonesia's investment potential to international business leaders and investors through events organized by TIME.

The sectors under consideration include film and culture, the creative economy, tourism and sustainable investment.

Potential cooperation could involve several international events, including the TIME100 Davos Dinner & Talks, TIME100 Impact Dinner, TIME100 AI Leadership Forum and TIME Earth Awards.

Pahala said participation in such forums could help Danantara promote Indonesia's strategic industries while expanding its connections with global investors and business executives.

He stressed, however, that discussions with TIME remained preliminary and that no final partnership arrangement had been announced.

Danantara said its efforts to expand its international network would continue to follow principles of good corporate governance, accountability and the national interest.

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