Tyres flat at Indonesia's Astra
Article Abstract:
A major shakeout is expected at Astra International, Indonesia's largest automobile manufacturer. Plummeting sales industry-wide in 1992, maturing debts and depreciation of the local currency are likely to spin the company out of the hands of the founding Soeryadjaya family. It is very probable that no new majority shareholder will emerge even as most of Soeryadjaya family's 58% stake is sold. However, Toyota Motor Corp, which owns 49% of the main vehicle unit, could end up as the largest minority shareholder.
Publication Name: Far Eastern Economic Review
Subject: Business, international
ISSN: 0014-7591
Year: 1992
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Kiss and make up?: Seoul and Hyundai search for compromise
Article Abstract:
Hyundai Corp's Chung Se Jung decided to apologize to South Korean Pres Roh Tae Woo to settle their differences arising from the political ambitions of Chung Ju Yung, Hyundai Group founder and Chung Se Jung's older brother. The move, Chung Se Jung claims, was precipitated by pressure from Korean big business because of the conflict's negative effect on the country. The South Korean administration displayed total control of government, a stance that made the businessmen evaluate their positions.
Publication Name: Far Eastern Economic Review
Subject: Business, international
ISSN: 0014-7591
Year: 1992
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In for repairs
Article Abstract:
High interest rates, stringent vehicle taxes and the government's deregulation plan are causing great difficulties for Indonesia's automobile industry. Vehicle sales for 1992 are forecasted at 160,000 units, 40% of the total industry capacity of 446,000 units. The government plans to force the industry to become more efficient by limiting the number of models. This is deemed a necessary sacrifice to position the industry for stiff competition in the future with China and India.
Publication Name: Far Eastern Economic Review
Subject: Business, international
ISSN: 0014-7591
Year: 1992
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