Habibie attracts criticism
Article Abstract:
Indonesian Pres B.J. Habibie's decision to postpone the closure of 40 banks has been criticized by politicians and bankers as a sign of coddling of well connected persons. Government officials claim that the decision was based on the need of the banks to have equal time to submit their restructuring plans and raise the needed funds to avoid closure. The delay has caused uncertainty among depositors triggering heavy withdrawals in Jakarta-based banks. More importantly, confidence in the banking system has been further undermined by the postponement.
Publication Name: The Asian Wall Street Journal Weekly
Subject: Business, international
ISSN: 0191-0132
Year: 1999
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BII shows little recovery; shares of Indonesian bank continue to suffer
Article Abstract:
Sinar Mas Group's Bank Internasional Indonesia's stocks have continued to drop despite the recapitalization policy adopted by the Indonesian government. The continuing drop is a sign of the pessimistic attitude that financial-market participants are showing toward the banking industry. Indonesia's bank-recapitalization program involves the infusion of capital by bank owners amounting to 20% of required funds while the government provides the rest through bonds.
Publication Name: The Asian Wall Street Journal Weekly
Subject: Business, international
ISSN: 0191-0132
Year: 1999
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Opening the doors
Article Abstract:
Several Asian countries are gradually opening their real estate markets to foreign ownership. Indonesia, for example, appears to be slowly relaxing their laws on foreign ownership of properties. Malaysia now intends to remove the tax on property purchases by foreigners that amount to over $86, 500. However, regulations on the acquisition of property by foreigners in some Asian nations remain strict.
Publication Name: The Asian Wall Street Journal Weekly
Subject: Business, international
ISSN: 0191-0132
Year: 1997
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