Table: Strategy 5: Going Public

COMPANY      COUNTRY      STRATEGY                        REVENUE
      TELKOM       INDONESIA    This state-owned company is     $1.8 BILLION
      INDONESIA                  raising more than $1 billion      up 30%.
                                 of equity in Jakarta, New York,
                                 and London as part of the
                                 government's privatization drive.
      CHINA        TAIWAN       Once a sleepy state enter-      $2.9 BILLION
      STEEL                      prise, this well-run company      up 34%
                                 has been privatized in a major
                                 bid to take on the global competition.
      BIMANTARA    INDONESIA    This company--with holdings     $272 MILLION
      CITRA                      ranging from a private TV         down 0.6%
                                 station to a plastics maker
                                 --went public in July to
                                 prepare for competition.
      ELECTRICITY  THAILAND     Spun off from the state         $137 MILLION
      GENERATING CO.             utility, EGCO expects to          NA
                                 operate more efficiently
                                 because management has more
                                 flexibility than its parent.
      CDL          SINGAPORE    This growing hotel and resort   $351 MILLION
                                 conglomerate is giving regional   up 72%
                                 managers decision-making
                                 responsibility particularly in
                                 segments of the business
                                 that have gone public.

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