IBRA to hold auction

JAKARTA (JP): The Indonesian Bank Restructuring Agency (IBRA) will auction noncore assets of liquidated banks on Dec. 8 and Dec. 9.

IBRA director Eko Budianto said on Saturday that 83 cars and 41 motorcycles would be auctioned to the public through its asset management unit.

"Before the auctioning, the public is allowed to check the condition of each vehicle on Dec. 4 to Dec. 6, 1998," he said in a statement.

Inspections may be made at PT Balindo's office at Jl. Rawa Gelam I No. 16 in the Pulo Gadung industrial estate in East Jakarta.

Participants in the car auction are required to provide a deposit of Rp 2 million, at the latest one hour before the auction commences, and Rp 500,000 to qualify for the motorcycle bidding.

"For the winning bidder, the deposit will be counted as part of the payment, while losers will receive refunds."

The agency will advertise about the auction plan one week before it is held, and the public may obtain further information through the agency's hot line at 5772776, ext. 7432 and 7434. (rei)