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PT Holdiko Perkasa, a holding company set up by the Indonesian Bank Restructuring Agency (IBRA) in 1998 to oversee the sale of the Salim Group assets, has finalized 19 transactions during this year, raising total gross proceeds of Rp 11.67 trillion (around US$1.1 billion).
Holdiko said in a press statement on Tuesday the result had exceeded the target of Rp 7.2 trillion. To date, the company had raised a total of Rp 16.25 trillion from 32 asset sales.
Holdiko said that the average recovery rate of the assets stood at 48.6 percent.
The Salim Group transferred the assets to IBRA to repay debt to the government.
The government injected …