Tricky business in Indonesia
Living in Indonesia I tend to get a good idea about people's attitude to things. Driving, family, food, fun and business. I have often commented on how some people, not all, have a very short term view of how to make money and that its better to grab the dollar on the table rather than try for a long term partnership.
The Jakarta Post highlights one foreign company, PT Kangar Consolidated Industries (KCI), who have been taken to court by a local partner company AND seem to be getting shafted by the East Jakarta District Court. A trading agreement had been terminated and all hell broke loose. Poor old KCI have been led down a back alley and mugged, their assets, totalling US$100.
The CIA Factbook says "Keys to future growth remain internal reform, building up the confidence of international and domestic investors, and strong global economic growth." While corrupt little men controlling the courts there's not much chance of that happening. Reliable legal recourse in contractual disputes is still very much a problem.
By Nick | Permalink
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Nick did you say just $100.00? why did they bother? What is the real story if so?