Other Publications
Kalla discusses financial crisis with JP Morgan
The Jakarta Post | Thu, 10/23/2008 4:02 PM | National
Vice President Jusuf Kalla held talks with the chairman and CEO of JP Morgan Asia, Gaby Abdelnour, at the State Palace on Thursday to discuss the state of global stock markets following the U.S.-led global liquidity crisis, temponinteraktif.com reported.Speaking to reporters after the meeting, Abdelnour said he and Kalla had discussed steps and measures that must be taken by banks and the government to support all sectors of the economy.
The Indonesian Stock Exchange (IDX) tumbled in the second week of October, led by a nearly 30-percent decline in the share price of several subsidiaries of the then biggest market mover Bakrie and Brothers.
When asked about what was going to happen to Bakrie and its subsidiaries, Abdelnour said Bakrie was a trustworthy and cooperative client and that JP Morgan was working to find a solution to the company's financial problem. However, he refused to offer details on the amount of Bakrie's debt owed to JP Morgan.
Bakrie is currently seeking to raise up to US$1.2 billion to expedite the payment of debts and as a top-up to compensate for the sharp decline in the value of the shares of its units that are used as collateral for loans. (and)
Comments (0) |
Post comment
What's On
- Festival of India
10/29/2009 12/15/2009 Balai Kartini & Umar Ismail Hall, Jakarta
- Imagemakers of the Future: Photography exhibition
10/10/2009 11/30/2009 Alila Ubud Desa Melinggih Kelod Payangan, Gianyar 80572, Bali - Timeless Change
11/05/2009 12/07/2009 Ganesha Gallery, Four Seasons Hotel Jimbaran, Bali. - Choreography of Colours; Sardono W. Kusumo's first solo painting exhibition
11/12/2009 12/12/2009 vivi yip art room Annexe Ciputra World Marketing Gallery Jalan Prof Satrio Kav 11, Casablanca