IBRA raises Rp 16.5t in first half<\/p>\n
The Indonesian Bank Restructuring Agency (IBRA) announced on
\nFriday that it had collected Rp 16.5 trillion in cash during the
\nfirst half of this year from the sale of assets and loans.<\/p>\n
IBRA chairman Syafruddin Temmenggung said the collected amount
\naccounted for almost 40 percent of the Rp 42 trillion full-year
\ntarget, which is mainly to be used to help plug the gaping 2002
\nstate budget deficit.<\/p>\n
Syafruddin was also optimistic that the agency would meet the
\nfull-year target.<\/p>\n
While planning to sell a majority stake in three more
\nrecapitalized banks this year, it is currently also in the
\nprocess of selling 2,500 credit portfolios worth over Rp 150
\ntrillion.<\/p>\n
However, there has been concern that IBRA might not be able to
\nmeet the target amid signs that the sale of bank shares could be
\nfurther delayed due to the current weak market sentiment.<\/p>\n
Analysts have said the weak response in the sale of Bank Niaga
\nshares in the stock market this week, could prompt the agency to
\npush back the sale of a majority stake in the bank in mid-
\nSeptember this year.<\/p>\n
Aside from banks' divestment, IBRA is now also placing the Rp
\n150 trillion of non-performing loans for sale. But many doubt
\nwhether this loan sale program will attract credible bidders as
\nlocal banks seem to be uninterested. -- JP<\/p>",
"url": "https:\/\/jawawa.id\/newsitem\/ibra-raises-rp-165t-in-first-half-1447893297",
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"sponsor": "Okusi Associates",
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