World Bank warns Jakarta

Article Abstract:

The World Bank has notified the Indonesian government that it wants a thorough investigation of the PT Bank Bali fiasco. The warning, given on Aug 31, 1999, indicated that the World Bank is willing to suspend aid to the Indonesian economy if the incident is not properly resolved. The incident involves the transfer of about $80 million from Bank Bali to a firm controlled by a senior member of the Golkar Party. The fiasco has resulted in a political uproar that threatens to undermine Indonesia's economic recovery.

Commercial Banks, Commercial Banking, Government regulation (cont), World Bank (IBRD), Banking industry, Cases, Economic policy, World Bank, PT Bank Bali

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Astra Agro may get a boost; export-tax cut could help palm-oil company

Article Abstract:

PT Astra Agro Lestari stands to gain by a government mandate that eases the export tax on crude palm oil. The firm has a reputation for being well managed which has put it consistently on many buy lists despite the fact that many investors are wary of investing in the country for fear of the violent aftermath of the elections. The lower export tax is expected to increase revenue for domestic producers as well as increase the prices for local cooking oil.

Taxes, Tariffs & Duties, Vegetable oil mills, not elsewhere classified, Other Oilseed Processing, Palm Oil, Taxation, Laws, regulations and rules, Tax policy, Fats and oils industry, Oils and fats industry, Export duties, P.T. Astra Agro Lestari

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Marubeni deal adds more fuel to the fire under Wahid

Article Abstract:

The International Monetary Fund has criticised Indonesian president Abdurrahman Wahid for supporting a debt-restructuring plan involving Japan's Marubeni Corp. and the Indonesian Bank Restructuring Agency. The plan is believed to favor Marubeni Corp., giving the Indonesian Bank Restructuring Agency a disproportionate stake in Chandria Asri P.T. and leaving it with an unattractive asset.

Japan, Diversified Companies, Strategic alliances, Basic Chemical Manufacturing, Industrial Organic Chemicals, Organic Chemicals, Statistical Data Included, Management, International Monetary Fund, Contracts, Chemical industry, Organic compounds, Wahid, Abdurrahman, Indonesia. Bank Restructuring Agency, Marubeni Corp., Chandra Asri P.T.

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