Indonesia's Hashim: Picking Up The Pieces

A top businessman tries to salvage his Indonesian empire

Hashim Djojohadikusumo is an Indonesian tycoon, a man renowned for his business acumen, his lofty connections, and Tirtamas Group, the corporate empire he has assembled. Yet, as his country's economy crumbles in the wake of a currency collapse, Hashim isn't thinking of all that he has accomplished. He's thinking of the $1 billion in debt he holds and the risky moves his companies made just months before the rupiah lost 90% of its value and interest rates shot up to 30%. Now, he wishes he had reined in his ambitions. "I didn't see the seriousness of the crisis," he says. "I was stupid."

To continue reading this article you must be a Bloomberg Professional Service Subscriber.