Laksamana reshuffles IBRA top officials<\/p>\n
The Jakarta Post, Jakarta<\/p>\n
State Minister for State Enterprises Laksamana Sukardi has
\nreshuffled the top management of the Indonesian Bank
\nRestructuring Agency (IBRA) in a bid to boost its performance.<\/p>\n
The agency said in a statement that Laksamana, whose office
\noversees IBRA, made the decision on Monday.<\/p>\n
The statement said that Soebowo Musa had been appointed as
\nIBRA's new deputy chairman overseeing the bank restructuring
\nprogram, replacing Felia Salim.<\/p>\n
The agency said that three other new top officials included: I
\nNyoman Sender as deputy chairman for Asset Management Credit
\ndivision, replacing Irwan Siregar; Heri Wahyu Setiyarso as deputy
\nchairman for risk management, replacing Hendy Herijanto; and
\nJunianto Tri Priyono as deputy chairman for administration,
\nreplacing Chandra Purnama.<\/p>\n
\"With the reshuffle, IBRA is expected to be able to boost its
\nperformance for the tougher job ahead,\" IBRA said.<\/p>\n
The agency did not provide details.<\/p>\n
IBRA, which controls over Rp 600 trillion (around US$57
\nbillion) worth of assets transferred by indebted bank owners,
\nclosed down banks and recapitalized banks, is mandated to
\nrestructure the assets and sell them to raise cash to help
\nfinance the state's budget deficit.<\/p>\n
This year, the agency is expected to raise around Rp 27
\ntrillion in cash and to restructure some Rp 10 trillion worth of
\nnon-performing bank loans to be swapped with government bank
\nrecapitalization bonds.<\/p>\n
The agency is close to meeting the cash target, but is still
\nlagging behind in meeting the non-cash target.<\/p>\n
For next year, the target is nearly doubled.<\/p>\n
It is surprising, however, that IBRA Chairman I Putu Ary Suta
\nwas not replaced as had been speculated by the financial analysts
\nsince Laksamana took office late in July.<\/p>",
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