Indonesia's Bank Restructuring Agency (Ibra) yesterday rejected a local newspaper report that key officials, including the agency's chief, planned to resign.

But it confirmed however, one senior executive planned to leave and an Ibra source told reporters another had already submitted his letter of resignation, the latest changes in a series of shake-ups at the troubled agency.

"The report is not true ... they are still active and there is no sign of resignation," Ibra public relations chief Danang Kemayanjati told Reuters.

The leading Bisnis Indonesia daily reported yesterday that due to pressure from several unnamed groups Ibra head Edwin Gerungan, deputy chief Sumantri Slamet and other key officials would resign which could jeopardise the agency's 2001 revenue target of 27 trillion rupiah (S$4.7 billion).

None of the officials named were available for comment. But a source from the agency told reporters yesterday Mr Sumantri had submitted his resignation letter to Finance Minister Prijadi Praptosuhardjo. The source did not say when it was submitted.

Mr Danang also said head of asset management Hendro Santoso did plan to leave but he did not elaborate. But Indonesian finance minister Prijadi denied any such planned resignations. "No, there aren't any. Not even talk," he said when asked about the reports.

The powerful agency, controlling tens of billions of dollars in assets, has been hit by a series of personnel shake-ups, including the recent resignation of deputy chairman of the asset management unit Machmuddin Yasin and the deputy chairman in charge of the bank restructuring unit, Jerry Ng. Mr Machmuddin's resignation was rejected by the finance minister and he remains with Ibra.

There have also been frequent rumours Mr Gerungan, a career banker, would quit. Analysts fear the changes would hobble efforts to repair the heavily indebted bank and corporate sectors. In its 2001 budget (January-December), the government set Ibra a revenue target of 27 trillion rupiah to help plug the budget deficit.