Personal chemistry

Article Abstract:

The Indonesian government is in a dilemma over the US$1.8 billion Chandra Asri olefins project. Major projects, including Chandra Asri, were temporarily suspended by the government in Oct 1991, in an attempt to control the country's foreign debt. Chandra Asri shareholders want the project to resume before they service a US$530 million letter of credit drawn from Bank Bumi Daya to finance imported Japanese equipment. Failure to do so would damage Indonesia's credit standing. However, granting the project's backers clearance to borrow abroad would result in charges of favoritism.

Industrial organic chemicals, not elsewhere classified, Planning, Indonesia, Petroleum chemicals industry, Petrochemicals industry

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Another first

Article Abstract:

Refrigeration Electrical Engineering Co., or REE, has become the first Vietnamese company to sell bonds on the international market. Its success shows that foreign investors are willing to invest in Vietnamese enterprises even in the absence of a stock market. Getting government permission took REE's general director a year of effort despite his political connections. The bond proceeds will pay for two joint ventures: one with Carrier for air conditioners and another, planned with Hitachi, for refrigerators.

Finance, Convertible bonds, REE Corp.

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Nation builders: assembly lays foundation for rule of law

Article Abstract:

Vietnam's national assembly recently concluded its final 1995 session after passing an enormous new Civil Code and approving the merger of eight state agencies into three new ministries. Analysts hailed many of the moves, and say the assembly is moving out of the shadow of the Communist Party and the executive branch, though it remains feeble by comparison. The 843-article Code lays a fair foundation for the rule of law, but many more regulations and laws are needed to implement it.

Laws, regulations and rules, Political aspects, Civil law

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