Asian corporate chiefs meet in Bali on crisis
Asian corporate chiefs meet in Bali on crisis
JAKARTA (JP): Corporate chiefs from around Asia started three
days of discussions yesterday in Nusa Dua, Bali on the economic
crisis besetting the region.
The gathering of 150 executives, called The President Forum,
is to discuss ways Asian businesses can weather the current
economic storm and emerge stronger and more competitive.
The President Forum is sponsored by Business Week, a business
weekly magazine, and supported by AT Kerney, Oracle and the Swiss
Bank Corp.
The corporate chiefs will also consider management challenges
and business issues impacting their investment and operational
strategies.
Indonesian Minister of Finance Mar'ie Muhammad, Coordinating
Minister for Production and Distribution Hartarto and Thailand's
Deputy Prime Minister Supachai Panitchpakdi will be keynote
speakers at the forum.
AT Kearney's vice president for Asia-Pacific Bill Best said
the forum was timely because corporate leaders must determine not
only the impacts of the economic crisis, but also the best
responses to be taken.
"Currency turmoil, tighter credit, reduced consumer demand and
debt payments have created new challenges for companies across
Asia," he said.
"In response to the changing market environment, businesses
must reevaluate corporate strategies and operations across the
region. But amongst the chaos are important opportunities for
companies that make the right strategic moves," he added.
During the forum, participants will have an opportunity to
engage leading experts in a dialog concerning financial
strategies, changing family business traditions, management
processes, repositioning of company activities, the role of
technology and effective business strategies and operations.
The forum was developed in consultation with 24 leading chief
executives serving as a board of advisors. They represent
businesses based in Thailand, the Philippines, Malaysia, Hong
Kong, Taiwan, South Korea, Indonesia, India, Singapore, the
United States and Europe.
The gathering is limited to 150 of Asia's leading company
executives to ensure lively discussions between true peers. Most
participants are from outside of Indonesia.
Forum organizer Sam Moon said the overwhelming response from
business executives from across the region to join the forum
indicated a high degree of confidence in Indonesia's long-term
prospects. (gis)