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Strategies & Market Trends : Asia Forum
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To: tom who wrote (3618)5/15/1998 1:54:00 PM
From: Sam  Read Replies (3) of 9980
 
Tom,
"(bear in mind this company [Steady Safe Taxis] has US$20m of revenue - in Rupiah. Why did anyone lend them money??!?!?)"
Not just money, but $250 million. I asked the same question when Peregrine failed several months ago. Someone on the thread said that they aren't just a taxi company; they are a taxi company owned by a Suharto daughter. I forget all the exact details, but it was something like they (the "taxi" company) were going to build a bridge with it, or some such thing. (Perhaps a Bridge over Troubled Waters? Or perhaps connecting the Twin Towers?)

The good folks at Peregrine probably just shrugged, and opened up another shop somewhere under a different name. No fuss, no muss, no "real" harm done. After all, it's only chump change, isn't it?

Sam
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