LAST year, every time he passed Jalan Raya Kebonagung in Malang, East Java, Mulyono, 39, would say to himself: "Yet another shopping center under construction." He was impressed by the four-story rise on the border of the city.

What Mulyono saw under construction, however, was not a shopping complex, but the sugar manufacturing company PT Kebon Agung's new offices. The building, inaugurated last April, is part of the revitalization of the 107-year-