Proceeds from Seized Asset Auction Hit Record High
A large number of assets confiscated from major cases, such as Bank Indonesia's Liquidity Support (BLBI) funds and Jiwasraya Insurance, are difficult to auction off due to various factors, including too high valuation.
Coordinating Minister for Political, Legal and Security Affairs Mahfud MD (left) accompanied by Chair of the Task Force for Handling Bank Indonesia Liquidity Assistance Funds (BLBI) Rionald Silaban (second from right) Task Force and Head of Bareskrim Polri Commissioner General Agus Andrianto installing signboard marking the confiscation of assets belonging to debtors and obligors of Bank Asia Pacific in Bogor Regency, West Java, Wednesday (22/6/2022).
JAKARTA, KOMPAS — The proceeds from the auction of assets confiscated by the government amounted to Rp 35.23 trillion (US$2.34 billion) in 2022, becoming the highest in recorded history. Even so, there is still a difficulty in selling a number of large assets confiscated from major cases, such as Jiwasraya and as Bank Indonesia's Liquidity Support (BLBI) due to various factors including too-high valuation.
Based on data from the Finance Ministry’s Directorate General of State Assets (DJKN Kemenkeu), the auction proceeds of Rp 35.23 trillion in 2022 accounted for 117 percent of the target of Rp 30 trillion. That number increased from previous years.