Father knows best
Article Abstract:
Indonesian businessman William Soeryadjaya, Panin Bank and possibly the Bank of Indonesia, are working to control the financial problems of the Soeryadjaya family's Perusahann Terbatas Bank Summa. The financial problems stem from overexpansion and speculation in the property market from 1989 to 1990. The results of efforts to save Summa Bank have repercussions on the stock market since Soeryadjaya's Astra International is among the leaders in the Jakarta Stock Exchange. Summa Bank's problems have led investors to fear possible divestments by Astra International to bail out the bank.
Publication Name: Far Eastern Economic Review
Subject: Business, international
ISSN: 0014-7591
Year: 1992
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The big advance
Article Abstract:
State banks in Indonesia have been given more leeway to engage in profitable investments by virtue of an Integrated Banking Law enacted in Feb 1993. Private banks may feel the pressure of competition although state banks have vowed not to give up its traditional role as financier of development projects. The government is wary of announcing the state banks' new emphasis because of political reasons. Nevertheless, it may only be a matter of years before state banks will go public.
Publication Name: Far Eastern Economic Review
Subject: Business, international
ISSN: 0014-7591
Year: 1992
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