Laksamana gives verdict on BCA deal

Minister for State-owned Enterprizes, Laksamana Sukardi was at the CSFB conference and spoke to FinanceAsia.

In a landmark deal, the Indonesia government has finally sold Bank Central Asia BCA to private equity firm, Farallon, which beat Standard Chartered at the post. Laksamana Sukardi explains the significance of the sale and why StanChart lost. He also talks about other privatizations likely to happen this year.

How important for Indonesia is the BCA asset disposal

It's very important. It is the next step of our economic restructuring and will help boost the confidence of investors and reboot our economy. The reason we got hit by a crisis initially was because our banking sector was very weak, and so the first step was to bail out the banks and recapitalize them. We...

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