Not Only One Transaction

POOR PT Citra Marga Nusaphala Persada Tbk. Its intention to reduce losses caused by foreign exchange rates due to the rupiahs weakening against the dollar in 1999 was not achieved. On the contrary, a series of financial transactions that the toll road company undertook caused losses.

The negotiable certificates of deposit (NCD) worth US$28 million, purchased from Unibank, could not be encashed when they matured in 2002. The money was supposed to s

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