Pains of indigestion; Indonesian food firm faces debt problems
Article Abstract:
Mantrust, an Indonesian agricultural business firm, is working out a debt restructuring plan with creditors after it failed to keep scheduled payments due on a US$400 million debt. Price Waterhouse and Lehman Brothers of Singapore are assisting Mantrust in reorganizing the company. The debt was incurred when Mantrust acquired Van Camp Seafood in 1988 for US$300 million, 90% of which was debt-financed. Mantrust's problems will affect financial confidence in Indonesian companies. This result will be emphasized more as another firm, Bentoel, also fell behind its payments on a US$300 million loan.
Publication Name: Far Eastern Economic Review
Subject: Business, international
ISSN: 0014-7591
Year: 1992
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Forest framework
Article Abstract:
Barito Pacific Timber Group, Indonesia's largest logging-concession holder, has exclusive rights to around 5.5 million hectares of forest lands. Environmental groups allege that Barito is mainly responsible for the continued denudation of the country's remaining rainforests. Irresponsible logging practices result in the loss of 300,000 hectares of virgin forest each year. Lax enforcement of Indonesian forestry laws also contributes to massive forest destruction.
Publication Name: Far Eastern Economic Review
Subject: Business, international
ISSN: 0014-7591
Year: 1992
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Double-edged sword
Article Abstract:
The decision to prosecute senior military officers and enlisted men involved in the East Timor massacre has caused restiveness within Indonesia's armed forces. In what is widely seen as a bid to placate Indonesia's foreign critics, a military commission headed by Major Gen Faisal Tanjung recommended the discharge of three senior officers and the transfer of three others. Eight enlisted men were also recommended for court-martial.
Publication Name: Far Eastern Economic Review
Subject: Business, international
ISSN: 0014-7591
Year: 1992
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