"Our valuations of the 121 companies pledged thus far are extremely conservative. We will have no problem recovering the government's debts in full, not to mention a healthy return on premium," IBRA chairman Glenn Yusuf said in a statement.

Indonesia announced last week that the Salim and Gajah Tunggal conglomerates had pledged shares in scores of companies to IBRA to repay liquidity assistance given to their banking units, Bank Central Asia (BCA) and Bank Dagang Nasional Indonesia.

IBRA later said it had also reached agreement with tycoon Sudwiktmono, cousin of former president Suharto, on his pledge of asset, property and cash to repay assistance given to his Bank Surya.

IBRA expected to develop comprehensive plans to ensure the government would receive the maximum cash gainsfrom the disposal of the assets, the statement said.

It said IBRA would release the names of the companies in which it had been given shares in the near future.

Indonesia had set September 21 as the deadlne for shareholders of 14 troubled banks to return billions of dollars in liquidity assistance given to them by the government.

It said bankers who failed to meet the deadline could face criminal charges.

The banks which have not yet reached agreement on repayment are Bank Umum Nasional, Bank Danamon, Hokindo Bank, Deka Bank, Modern Bank, Central International Bank, Bank Istimarat and Bank Pelita.

Finance minister Bambang Subianto said on Tuesday that troubled banks which had not yet reached agreement on repaying liquidity assistance would be required to settle their debts in cash rather than assets, following a disagreement on the value of the assets they had pledged.

He said banks had one month to submit an action plan on asset sales to raise cash to repay the central bank.