IBRA sells properties

IBRA sells properties

JAKARTA (JP): The Indonesian Bank Restructuring Agency (IBRA)
said that it managed to book Rp 105 billion (about US$12.3
million) from the auction of 18 properties on Saturday.

The agency said in a statement that the amount achieved at the
auction held by PT Ray Wahid Lelang was 70 percent higher than
its initial estimate.

The properties sold over the weekend were formerly owned by
closed Bumiraya Bank, Bira Bank, Modern Bank, Bahari Bank,
Dewrutji Bank, Subentra Bank, Dharmala Bank, BDNI Bank, Mashill
Bank, BUN Bank and Namura Bank.

Most property sites are at strategic locations, such as Jalan
Mangga Dua Raya, Jalan Kelapa Gading, ITC Roxy Mas, Jalan Kemang
Raya and Permata Hijau.

The auction, which was held at Shangrila hotel, was the first
phase of the second series of property auctions to be conducted
by the agency through the end of next month.

IBRA will hold another property auction on May 31 organized by
PT Balai Lelang Indonesia (Balindo), which will sell 25
properties, mostly shop-houses, worth some Rp 15 billion. (07)