Indonesia's Rupiah rising

Article Abstract:

With Megawati Sukarnoputri's rise to power as president of Indonesia, the rupiah's value increased almost 30%, the highest in eleven months, but has since fallen back to previous levels. The implementation of Megawati's economic policies, however, may help the country's economic problems stabilize somewhat. With $140 billion in foreign debt, rekindling relations with the International Monetary Fund and selling off assets of the Indonesian Bank Restructuring Agency are important first steps.

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Dispute over acquisition snares Manulife Indonesia

Article Abstract:

Canadian-based Manulife Financial increased its stake from 51% to 91% in PT Asuransi Jiwa Manulife Indonesia for a price of $18.5 million. The sale is being disputed by Roman Gold Assets Ltd., of the British Virgin Islands, which claims that it bought the same 40% stake from a lawyer in Singapore who had been given power of attorney by previous owner of the stake, PT Dharmala Sakti Sejahtera.

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Foreigners pour into Jakarta

Article Abstract:

Foreign cement companies seeking to increase Asian production capacity are taking advantage of Indonesia's depressed market by buying cheap stakes in local companies. Analysts are warning investors that the conditions that made the stake buys inexpensive, such as low demand and overcapacity, will also keep share prices from seeing solid gains in the near future.

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