IBRA to hold auction

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)