Danareksa's Bitter Pill

Danareksa is on its last legs. The state-owned financial services company is up to its neck in a virtual mire of shortterm debt. To make matters worse, its performance has been getting worse over the past year, with profits being far less than outstanding debts. In addition, these debts owed to Danareksa continue to increase. The result is that the company is no longer able to repay its short-term debt maturing this year. Now, the state compa

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