Things not Completely Kosher at IBRA?

Assets Valuation

Tuesday, July 24, 2001

In January, IBRA very quietly set a new policy to calculate the value of assets under its control. Was this just to cover up a drop in asset value of more than 70 percent?

. tempo : 178042325656.

SEVERAL members of the House of Representatives have always been somewhat suspicious of the Indonesian Bank Restructuring Agency (IBRA) and it now seems that their suspicions were not unfounded. The results of an audit by the accountancy firm Hans, Tuanakotta and Mustofa (HTM) has revealed several surprises that are cause for concern. For example, the real value of assets under IBRA's control is in fact only Rp168 trillion. This is an enormous dro...

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