IBRA launches asset sale

JAKARTA: After raising some Rp 155 billion from its latest sale of property assets, the Indonesian Bank Restructuring Agency (IBRA) has commenced the latest sell-off program with 64 new property assets being on the block.

IBRA said in a press statement on Monday that the new assets would be added to the 1,206 assets that had failed to draw bids during the last sell-off program, which was called PPAP 4 batch 1.

Potential bidders in the latest sell-off must register with IBRA before Oct. 20, the statement said.

The potential bidders will have also to bid above the floor price set by the agency. For further information, the bidders can visit the agency's website at www.bppn.go.id. -- JP