Sinar Mas, Entangled in Debts
Tuesday, January 16, 2001
After its bonds lost their value, the Sinar Mas business empire took a severe nosedive. Its share prices also bombed. Only with the government’s helping hand was the second largest business group in Indonesia rescued.
arsip tempo : 173166654860.
The Sinar Mas empire is threatened by bankruptcy. The business group, which up to recently had not incurred any bad debts, made regular debt repayments and had not been in need of Bank Indonesia Liquidity Support (BLBI) for its banks, seems to be hiding a time bomb. The business community even finds it difficult to digest the reality, let alone the risk that this bomb, unless properly handled, could explode at any time in early 2001.
It is hard
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