Collapsed companies
Surviving the Fall
Tuesday, May 13, 2008
Many businesses collapsed following the 1997 financial crisis, largely because of uncontrolled expansion and over-extended loans.
arsip tempo : 178038952290.
The grounds of the Texmaco textile plant at Kiarapayung village, in West Java, are now overrun with wild grass. Once guarded by 800 security personnel, the site has been turned into a grazing ground for local residents raising goats and cows.
Ten years ago the plant was one of the biggest money-making machines of Texmaco, a company owned by Marimutu Sinivasan. Textiles produced by this company, established in the 1950s, dominated the market.
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