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Jasindo

Bankruptcy Shadow Looms Large

Tuesday, July 10, 2001

Jasindo is threatened with bankruptcy. Its loan to Medco is once again being questioned. Is it true that the new board of directors was really in the dark about the loan?

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LESS than a week into his position as president director of PT Jasa Asuransi Indonesia (Jasindo), Herris B. Simandjuntak suddenly found a threat of bankruptcy looming large for the state insurance company he heads. The threat came from four foreign creditors: ANZ Banking Group Ltd., Salomon Brothers International Ltd., United Bank of Switzerland AG Singapore branch and West Deutsche Landes Bank Girozentrale Singapore branch. Jasindo is required t

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