Article Abstract:
The experience of Peregrine Investment Holdings Ltd. (Peregrine) in Burma exemplifies the kind of risks businessmen must face in some frontier markets. Peregrine had invested heavily in a prawn and seafood processing venture with businesswoman Miriam Marshall Segal, who reportedly enjoys close ties with Burma's military rulers. In a dispute with Peregrine, Segal allegedly used these connections to harass Peregrine executives in Burma and force out the company from the venture. Peregrine has abandoned the venture in Burma but it has filed a $20 million suit against Segal in a US court.
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Article Abstract:
The Indonesian government's estimates of the liabilities their banks to overseas firms, which is placed at $78.2 million, is almost certainly much higher if off-balance sheet items such as foreign exchange contracts and other derivative contracts with foreign firms. The defunct investment bank Peregrine Fixed Income Ltd. had itself a total of some $9 billion in foreign-exchange contracts to overseas firms. The whole amount of derivatives contracts may be almost impossible to determine due to fluctuations of the rupiah and a lack of sufficient documentation.
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Article Abstract:
Peregrine Investments Holdings Ltd. ousted Miriam Marshall Segal as executive chairman of Peregrine Myanmar Ltd. on Jul. 10, 1995. Peregrine claimed that Segal covertly attempted to establish a competing venture in Burma. Segal disputed the allegations and warned Peregrine of the difficulties it would encounter in its Burmese operations due to her connections with the country's top generals.
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