IBRA appoints appraiser

JAKARTA (JP): The Indonesian Bank Restructuring Agency (IBRA) has appointed independent appraiser PT Satyatama Graha Tara and independent storage service provider PT Balindo to support the auction process of non-core assets of 10 banks suspended in April and August.

"The appointment of these companies is based on fair and transparent evaluation with international standards," IBRA chairman Glenn S. Jusuf said on Monday in a press statement.

Vice chairman Eko B. Santoso explained that 35 independent appraisers and 13 storage service providers responded to an invitation bid made by IBRA on Oct. 14.

He said Satyatama and Balindo won the bid based on cost and technical consideration, adding that IBRA's consultant Arthur Andersen actively participated in the selection process.

The agency said that the banks' non-core assets, comprising 83 cars and 41 motorcycles, would be auctioned "in a transparent way immediately". (rei)