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Naval Foundation

When Businesses Run Aground

Tuesday, November 12, 2002

Some business units of the Naval Foundation will be closed down. Some are profitable but many have inflicted losses.

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This doesn’t make sense. This may be what came to his mind after Navy chief of staff Admiral Bernard Kent Sondakh read the audit report on the Naval Foundation late October. The report is full of unreasonable data, for example a business established with a capital of Rp200 million has made a profit of only Rp6.4 million. “Just enough to buy chewing gum, but not to pay our employees,” this Minahasa-born gentleman grumbled.

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