Wallowing in Debts
The Bakrie family is desperate to settle its debt repayments. Its main assets will be sold off as its wealth declines.
October 28, 2008
DEBTS have once again become a stumbling block for the Bakrie group. When the current financial crisis hit the US and Europe, the knock-on effects also hit the business group founded by Achmad Bakrie in 1942. Bakrie’s wealth plummeted and even now it is entangled in debts of US$1.2 billion or around Rp11 trillion. These debts fall due starting this month and up until April 2009.
Not having any other better choice, the Bakrie family has been fo
...