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Article: Barito Pacific Group.(COMPANY PROFILE)(Company overview)
- Article from:
- Indonesian Commercial Newsletter
- Article date:
- August 1, 2006
CopyrightCOPYRIGHT 2006 P.T. Data Consult, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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The Barito Pacific Group is a large Indonesian business group, active in chemicals, forestry, wood processing, banking, plantations, and mining. It is controlled by Prajogo Pangestu and his family. As many business tycoons in Indonesia, Pangestu is an ethnic Chinese who based his business empire on close relations with the Suharto family.
The Barito Pacific Group ran into serious financial trouble during the financial crisis of 1997/1998. The Barito Pacific Group now is among the largest corporate debtors to the IBRA, owing 7,500 billion rupiah. Of this debt Rp 4,300 billion is connected to the ethylene plant PT Chandra Asri, which was built in the early 1990s ...