Jakarta, May 16 -- President Prabowo Subianto oversaw the signing of a memorandum of understanding between sovereign wealth fund Danantara and Hisense Group to explore technology-sector cooperation, officials said Saturday.

The agreement was signed at Prabowo's Kertanegara residence in Jakarta on Friday, according to a government statement.

"The MoU marks an initial step in exploring cooperation in the technology sector," State Secretary Minister Prasetyo Hadi said.

The agreement was signed by Investment and Downstream Minister and Danantara Chief Executive Rosan Roeslani, Danantara Chief Technology Officer Sigit Puji Santosa, and Hisense Chairman Jia Shaoqian.

Cabinet members attending included Energy Minister Bahlil Lahadalia, Forei...