Delays and Wasted Money - Economy - magz.tempo.co

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Delays and Wasted Money

Tuesday, May 10, 2005

IBRAs worst performance was recapitalizing BII and Bank Lippo, which needed frequent injection of fresh funds.

. tempo : 173224468243.

Five years ago, the restructuring of the Indonesian International Bank (BII) and Lippo Bank caused an uproar. BII, which had previously been owned by the Sinar Mas Group, needed three injections of funds from the Indonesian Bank Restructuring Agency (IBRA). Lippo Bank requested a different method. They demanded capital because delays in recapitalization funds had made the banks position even more critical.

This blemish was reflected in the results

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