Small businesses shoulder bulk of country's debt woes

Article Abstract:

The South Korean debt crisis is being felt the most by the country's small business sector as more firms file for bankruptcy. Some 15 firms have already become insolvent in the town of Kumsan in 1998, compared to only 14 for the previous four years. Ginseng farmers, who used to work in factories during off-seasons, have begun to revert to their old jobs due ot the shortage of jobs. The Korean government has already agreed to a $58.35 billion package from the International Monetary Fund to save its failing industries and stimulate investment.

Unemployment, Industrial Production, Economic aspects, Small business

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Focus in Singapore shifts to real-estate stocks: provisions may squeeze 1998 earnings of DBS Land and City Developments

Article Abstract:

DBS Land Ltd and City Developments Ltd are forecasted to launch their own series of provisions similar to the aggressive bad-loan provisions of banks established in 1998. City Developments was predicted to set an average 35% decrease in its 1998 net profit pulled down by estimated provisions of S$115 million. Likewise, the 1998 net profit of DBS Land decreased by 78% with expected provisions of more than $200 million. The companies are two of the largest listed property groups in Singapore.

Strategy & planning, Sales, profits & dividends, Singapore, DBS Land Ltd., City Developments Ltd.

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South Korea land worries set to erode economic health

Article Abstract:

South Korea's real estate industry has continued to experience problems that may further compound the financial troubles experienced by the country. Real estate is being used as an asset for loans and the weak property markets promise to undermine the restructuring efforts of many South Korean companies. The increased reliance of conglomerates on real estate has the prices of properties falling to levels where properties are being auctioned at 75% their appraised value.

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