Something Fishy Behind the Asset Sale?
IBRA is selling off assets that have not yet been restructured and the asset recovery rate has declined. So what's the point of having IBRA in the first place?
April 23, 2002
THE Indonesian Bank Restructuring Agencybetter known by its initials IBRAnow seems to have become a bargain store. This is because, as of April 1 this year, the agency is no longer selling only assets that have been restructured, but also assets that have had nothing done to them at alland whose value has certainly already fallen. These are the assets belonging to the 24 big-fish debtorsincluding Artha Graha, Bimantara
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