1. An Indonesian mining company, PT Adaro, has started mining coal with a very low sulphur content from a huge deposit in southern Kalimantan. 2. Also, Indonesian companies seeking to buy dollars are selling rupiah for ringgits or Singapore dollars before converting them to U.S. dollars. 3. Also, Indonesian companies seeking to buy dollars are selling rupiah for ringgit or Singapore dollars before converting them to U.S. dollars. 4. An Indonesian company, P.T. Adimitra Rayapratama, filed a suit against Bankers Trust this summer in Federal Court for the Southern District of New York that alleged racketeering. 5. As a result, interest rates have soared to levels that have devastated Indonesian companies and their creditor domestic banks. 6. As the currency extended its decline and interest rates surged, Indonesian companies began facing an increase in bad loans. 7. As the rupiah tumbles, the amount of the rupiah Indonesian companies have to fork out to service their debts rises, plunging them into deeper trouble. 8. Asia Pulp and Paper became the first Indonesian company to enter the market since the Asian financial crisis devastated the economy. 9. At least half a dozen international banks and brokerage firms have lost money on similar dealings with Indonesian companies, executives said. 10. Bob Hasan, an adviser to Suharto, controls two Indonesian companies that received the remaining stakes in Busang. |