Empty Promises

THE Atrium Senen shopping complex was recently shaken, not by a terrorist bomb, but by the shocking revelations concerning the monumental debts its owner owes the Indonesian Bank Restructuring Agency (IBRA). The debtor is Kaharudin Ongko, the property at issue is PT Segitiga Atrium, and the likely loser is the Indonesian Government. Such a situation is not uncommon, except that Ongko had given IBRA a guarantee in the form of shares which no

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