Life after the crisis: Asia moves on
Korea: Hanwha Chemical Corporation
Thailand: Total Access Communications
The Asian crisis hit Indonesian conglomerate Astra International particularly hard, contributing to a 90% drop in business. As the leading auto producer in the country it was in the wrong business for a crisis. Indonesians stopped buying cars. And, overloaded with debt and with no-one to borrow from, Astra was up against the wall.
With president Rini Soewandi at the helm, ex-deputy chair of the Indonesian Bank Restructuring Agency, Astra refused to be beaten by these seemingly insurmountable obstacles.
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