No preference for U.S. investors: IBRA

No preference for U.S. investors: IBRA

JAKARTA (JP): The Indonesian Bank Restructuring Agency (IBRA)
dismissed on Tuesday allegations that the agency prefers
investors from a certain country for buying assets under its
management, saying it would always give the first option to local
investors.

"We will give top priority to local investors if domestic and
foreign bidders offer the same prices," IBRA spokesman Franklin
Richard said.

Franklin said the agency would sell assets only to investors
who could offer the highest prices and who were committed to
helping the country's economic recovery.

IBRA is now managing about Rp 600 trillion (US$85.7 billion)
in assets taken over from closed and nationalized banks. The
agency was tasked to raise Rp 17 trillion from asset sales for
the state budget in the current fiscal year.

"We rejected the opinion that we would sell assets mostly to
investors from a particular country such as the United States,"
he said, adding that asset sales were made through competitive
bids.

He said the agency had in the past offered assets to
investors from other countries like New Zealand and England.

People's Consultative Assembly Speaker Amien Rais and finance
minister Bambang Sudibyo complained recently that the U.S.
ambassador allegedly lobbied them not to replace Glenn Jusuf as
the head of IBRA.

Commenting on the agency's cooperation with foreign
consultants, Franklin said the cooperation was based on sound
business principles.

He denied the agency appointed Goldman Sach investment bank as
its consultant.

Franklin acknowledged, though, that the agency appointed
Lehman Brothers investment bank as its consultants in view of its
global network. (06)