Hero Supermarket's stores regroup after Jakarta riots: saddled with foreign debt, upscale chain still adapts better than most Indonesian companies
Article Abstract:
Leading Indonesian grocery store chain PT Hero Supermarket slowly managed to recover from the lootings in the Jakarta riots by strategic cost cutting. The cost cutting measures include expanding the competency of its employees to handle more jobs, improving its product mix to include more domestic products and hiring foreign executives to improve its management. Six of Hero's 72 stores were destroyed in the Jakarta riots with another 10 badly damaged. Hero company officials believe that the company would have been able to deal more effectively with the riots financially were it not for the company's decision to finance its expansion with foreign capital, resulting in a $41 mil foreign debt load.
Publication Name: The Asian Wall Street Journal Weekly
Subject: Business, international
ISSN: 0191-0132
Year: 1998
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Hero Supermarket's stores regroup after Jakarta riots
Article Abstract:
PT Hero Supermarket, an upscale grocery chain in Indonesia, is trying to recoup the losses it incurred during the May 1998 riots in Jakarta, Indonesia. Six of Hero's 72 stores were torched, while its other stores were severely damaged during the May riots. While it is still battling to collect from insurers its riot insurance, Hero is instituting several reforms, including the reduction of workers and adjustment of its product mix to adapt to existing financial conditions of the company and to halt further deterioration of its finances.
Comment:
Is trying to recoup the losses it incurred during the May 1998 riots in Jakarta, Indonesia by instituting several reforms
Publication Name: The Asian Wall Street Journal Weekly
Subject: Business, international
ISSN: 0191-0132
Year: 1998
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BHP stock's climb is lofty; rival firms may offer better value, analysts say
Article Abstract:
Paul Anderson's success in turning around the steel, mining and energy company Broken Hill Proprietary is evident with the climb in the firm's share price. The stock traded at A$18.36 on the Australian Stock Exchange in Jul 1999 which makes for a jump of 53% from its former value. BHP is trading at 32 times prospective earnings which is projected to grow even more in the succeeding 12 months. Anderson's plan to close its unprofitable US mines operations also sent copper futures up on the London Metal Exchange listing.
Publication Name: The Asian Wall Street Journal Weekly
Subject: Business, international
ISSN: 0191-0132
Year: 1999
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