Weekly Business
Tuesday, May 20, 2003
Mandiri Incurs Tax Debts
The tax debts owed by Bank Mandiri since 1998 have been unveiled. The total is huge: Rp11.8 trillion. Unless promptly settled, Bank Mandiris capital adequacy ratio (CAR) will drop to below 5 percent, and this largest bank in Indonesia may fail in its plan to be listed on the Jakarta Stock Exchange. The debts arose after Mandiri surrendered non-performing loans worth Rp175 trillion to the Indonesian Bank Restructuring Agenc
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