Online Original: "The Problems Have To Be Solved One At A Time"
Siam Cement is Thailand's largest company and one of Southeast Asia's industrial powerhouses. Thailand's Crown Property Bureau owns a significant minority stake in the company, reflecting the 80-year-old Bangkok-based corporation's importance in Thai national development. Like virtually every large Thai company, Siam Cement was badly caught out by the 1997 devaluation of the Thai baht -- it was groaning under more than $4 billion in mostly unhedged foreign debt at the end of 1997.
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