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Harco Indah

Ants vs Elephant

Tuesday, September 10, 2002

Harco Indah, the holding company of Harco Glodok, is believed to have bought back its debts from IBRA. There are indications that Indokapital Securities acted as a broker.

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It may appear to be business as usual down at Harco Glodok, but the more than 700 merchants who rent thekiosks owned by Harco Indah of the Gunung Sewu Group are anxious. They are curious to know who bought Harco Indah, which was sold to the Indonesian Bank Restructuring Agency (IBRA) under its credit assets sale program in July and resold by IBRA along with 2,500 other credit assets at Rp21 trillion.

The debts are rumoured to have been bough

...

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