Counting the cost of Timor
Article Abstract:
The killing of Timorese demonstrators at Dili, East Timor by the Indonesian military on Nov 12, 1991 aroused negative international reaction. Australians burned the Indonesian flag in front of the Indonesian embassy in Canberra while Canada suppressed its economic aid to and projects in Indonesia. Despite the tarnished international image, the Indonesian government's policy towards foreign visitors did not change, turning away journalists and the Portuguese ship Lusitania Espresso. With the exception of the Dili massacre, Indonesia's concern for Malaysia and Cambodia and Pres Suharto's handling of local Muslims are notable.
Publication Name: Far Eastern Economic Review
Subject: Business, international
ISSN: 0014-7591
Year: 1992
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Sell the silver: Bank Summa's owners may off-load key asset
Article Abstract:
Indonesia's Soeryadjaya family might sell Germany-based Summa Handelsbank to save Bank Summa, whose debts are reported to be 1.6 trillion rupees, or $780 million. The family is also planning to sell its controlling shares at automobile manufacturer Astra International Incorporated P T. Bank Summa has been given a reprieve by Bank Indonesia of nine months during which to clear up its finances, otherwise its banking license will be revoked. It is not even sure whether the Soeryadjaya family could raise the needed amount even if it were to offer the Summa Handelsbank.
Publication Name: Far Eastern Economic Review
Subject: Business, international
ISSN: 0014-7591
Year: 1992
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Cost of indecision: Indonesia closes crisis-ridden Bank Summa
Article Abstract:
The Soeryadjaya family has lost control over Bank Summa because of the Indonesian government's decision to liquidate the financially troubled bank. The Soeryadjayas' will also be unable to decide the buyers of their 100 million Astra shares, which are pledged as collateral for a loan taken to improve Bank Summa's financial position, if they cannot repay the US$250 million loan. The Indonesian government decided to liquidate the bank because it got impatient at the Soeryadjayas' indecision over choosing the buyers of the shares.
Publication Name: Far Eastern Economic Review
Subject: Business, international
ISSN: 0014-7591
Year: 1992
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