IBRA TO SELL ASSETS TO ACHIEVE SHARE SALE TARGET.(Revenue target of IBRA in 2001)(International Pages)(Statistical Data Included)

Indonesian Commercial Newsletter, September, 2001

2001's second semester target

In August 2001 IBRA planned to immediately pay Rp3 trillion in cash to the finance ministry after a payment of Rp11.25 trillion in the first half of 2001 with fund raised from the sales of assets under its control. The Rp3 trillion payment was part of the target of Rp27 trillion in cash the agency is to raise this year and Rp10 trillion in government bonds it is to withdraw from holders.

IBRA is an agency established by the government early 1998 to rehabilitate the banking sector. IBRA has the authority to take over and control troubled banks and sell assets and collateral its has.

In the second half of 2001, IBRA has set a cash revenue target at Rp18.4 trillion. In addition IBRA is to withdraw government bonds...

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