New bankruptcy law forces enterprises to reconfigure

Article Abstract:

Chinese enterpreneur Budiardjo Tek was forced to restructure his chicken business in response to Indonesia's new bankruptcy law. Indonesia's currency crisis soared Tek's debts, his fastfood restaurants in Hong Kong, China and Indonesia incurring debts totaling to $300 mil. Tek decided to restructure his company's operations by retrenching 5% of his staff and focusing on door-to-door marketing of frozen chicken. Tek is also selling some of his assets such as the Wendy's franchise in Hong Kong and the 76% share in US-based Harts Restaurant International Inc.

Business Methods, Interpretation and construction, Column, Behavior, Bankruptcy law, Business planning, Tek, Budiardjo

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Thailand's labor law sparks concersn of costly business

Article Abstract:

Thailand's new labor law has triggered concerns among companies about the potential increased cost of doing business in the country. The law, which will take effect in August 1998, restricts the number of hours in a workday, narrows policies on overtime and compels employers to pay its staff at least half their regular salaries during periods of postponed production. The law comes at a time when additional costs will bear significantly more weight on numerous financially-troubled companies as the Thai economy grows frailer and more layoffs arise.

Labor Regulation & Services, Thailand, Economic policy, Labor policy

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Expatriates discover it's certainly an employers market

Article Abstract:

The regional currency crisis in Southeast Asia has negatively affected the market for expatriate workers, particularly in Indonesia. Firms can no longer afford paying for the higher salaries of expatriates from regions such as Europe and the US due to the devaluation of the rupiah. Expatriate employees, who have become invaluable assets to Indonesian firms due to their leadership and management contributions, have been complaining of being payed significantly lower or simply being layed off as a result of the crisis.

Aliens Employment Regulations, Employment, Labor law, Southeast Asia, Alien labor, Foreign labor

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