{
    "success": true,
    "data": {
        "id": 1251247,
        "msgid": "ibra-to-sell-another-six-salim-group-assets-1447893297",
        "date": "2002-10-25 00:00:00",
        "title": "IBRA to sell another six Salim Group assets",
        "author": null,
        "source": "JP",
        "tags": null,
        "topic": null,
        "summary": "IBRA to sell another six Salim Group assets The Jakarta Post, Jakarta The Indonesian Bank Restructuring Agency (IBRA) said it would sell another six assets that it had taken over from the country's former largest conglomerate, the Salim Group, but warned of lower than expected proceeds due to weaker market sentiment since Oct. 12.",
        "content": "<p>IBRA to sell another six Salim Group assets<\/p>\n<p>The Jakarta Post, Jakarta<\/p>\n<p>The Indonesian Bank Restructuring Agency (IBRA) said it would<br>\nsell another six assets that it had taken over from the country's<br>\nformer largest conglomerate, the Salim Group, but warned of lower<br>\nthan expected proceeds due to weaker market sentiment since Oct.<br>\n12.<\/p>\n<p>\"Directly or indirectly the incident in Bali will affect the<br>\nmarket, especially as the assets we're trying to sell require<br>\nlong-term investors,\" IBRA Asset Management Investment (AMI)<br>\nchairman Taufik Maaruf said during a media meeting on Thursday as<br>\nreported by detik.com.<\/p>\n<p>The assets are main properties, including PT Bumi Serpong<br>\nDamai, in which IBRA now owns 37.84 percent. Others include PT<br>\nAriobi Estate Perkasa (100 percent owned by IBRA), PT Cibinong<br>\nCenter Industrial Estate (50 percent), PT Sibatex Abadi (100<br>\npercent), PT Sriboga Ratu Raya (25 percent) and PT Tuntex Garmen<br>\nIndonesia (10 percent).<\/p>\n<p>IBRA acquired the assets under a debt settlement scheme from<br>\nSalim after the group's Bank Central Asia (BCA) took up<br>\ngovernment-funded bonds worth some Rp 52 trillion (about US$5.65<br>\nbillion).<\/p>\n<p>Taufik did not say how much the assets were worth, but<br>\nexpected them to yield a 40 percent recovery rate as other Salim<br>\nasset sales did before.<\/p>\n<p>He also did not rule out the adverse impact the Oct. 12<br>\nbombing in Bali might have on the sale of Salim's remaining<br>\nassets.<\/p>\n<p>Analysts said the incident, which killed nearly 200, mostly<br>\nforeign tourists, heightened investors jitters about Indonesian<br>\nassets. IBRA, they said, might need to offer investors hefty<br>\ndiscount rates.<\/p>\n<p>In charge of the sale will be PT Holdiko Perkasa, which is<br>\nmanaging IBRA's Salim assets. Taufik said the sale began on<br>\nThursday with the distribution of \"info memos\" to prospective<br>\nbuyers. Registration will be closed on Dec. 20, he added.<\/p>\n<p>Among the top Salim assets Holdiko has sold were stakes in car<br>\nmanufacturer PT Astra International (Rp 2.07 trillion), the Salim<br>\nPalm Plantation ($368 million), television broadcasting company<br>\nPT Indosiar Visual Mandiri (Rp 775 billion) and PT Indomobil<br>\nSukses Internasional (Rp 625 billion).<\/p>\n<p>IBRA's bank restructuring unit also sold a 51 percent stake in<br>\nBCA to an American investment firm for Rp 5.3 trillion last<br>\nMarch.<\/p>",
        "url": "https:\/\/jawawa.id\/newsitem\/ibra-to-sell-another-six-salim-group-assets-1447893297",
        "image": ""
    },
    "sponsor": "Okusi Associates",
    "sponsor_url": "https:\/\/okusiassociates.com"
}