Life after the crisis: Asia moves on
Indonesia: Astra International
Thailand: Total Access Communications
The restructuring of the Hanwha Group has been the most dramatic in Korea following the Asian crisis. It has also been one of the most needed. “The top four chaebols, except Daewoo, have done a lot in terms of restructuring. But with Hanwha there was almost actual bankruptcy and the debt to equity ratio was over 1000%,” says Terence Lim, an analyst at Merrill Lynch in Korea.
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