PPA raked IDR200 billion bank shares divestment

PT Perusahaan Pengelola Aset (PPA) raked some IDR200 billion as from the divestment of PT Bank Niaga CIMB Tbk shares.
Formerly, the share ownership was possessed by Bank Lippo and Bank Niaga. However, the two banks were merged into PT Bank CIMB Niaga Tbk. The fund will serve as the income of the 2008 State Budget.
President Director of PPA Mohammad Syahrial said the divestment of the two banks has been finalized so that the company attined some IDR200 billion fresh fund.
He said the PPA shares ownership in some banks are derived from the rights certificate (SBH) which was executed to be the share.
Syahrial said the asset divestment process keeps going despite the government decision to extend the restructuring company working period.
"We don't haste to divest the assets. But, when we consider the market condition is good, we can sell the assets so as to get maximum bid."