Down to the wire for Salim Assets

PT Holdiko Perkasa is racing against time to finalise asset sales before the year-end deadline.

PT Holdiko Perkasa, the holding company for expropriated Salim Group assets under the Indonesian Bank Restructuring Agency IBRA, is racing to finalize sales and initial public offerings by end December.

According to Irawati Koswara-Simms, vice president of investor relations at Holdiko in Jakarta, the companys target under Indonesias letter of intent with the International Monetary Fund is Rp5.2 trillion $563 million. So far this year only a little over Rp1 trillion has been raised, she adds, but a final flurry of activity in the next few weeks should see enough deals to put Holdiko over the target.

Most contentious is the disposal of PT Indomarco Prismatama, also known as Indomaret....

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