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SinarMas
All that Gliters...

Tuesday, May 13, 2008

Having fallen during the financial crisis, the Sinarmas business empire has recovered and is now growing, entering the third generation. Even so, there are still serious debt problems that have yet to be settled.

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"Business is based on trust. Even if we have a debt that is only one cent, we still have to repay it."

This was the message from Mister Oei Ek Tjhong to his six children when he was faced with a pile of unpaid domestic and overseas debts, seven years ago. At that time, one of Mister Oei's companies was hit by debts of almost US$14 billion.

Mister Oei, alias Eka Tjipta Widjaja, and several of his sons, had to hand over Bank Internasional Indonesia (B

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