Astra's Rachmat named as one of Asia's top CEOs

Astra's Rachmat named as one of Asia's top CEOs

JAKARTA (JP): The Financial World, one of four major business
magazines in the United States, has elected Astra International's
president, Theodore Permadi Rachmat, as one of Asia's top chief
executive officers.

Haruo Tsuji, the president of Japan's Sharp Corp. won the
magazine's CEO of the year award for Asia while nine other Asian
executives won Silver awards.

According to the magazine's July edition, the Silver award
winners included Rachmat of Astra, Krishan Chugh of ITC, India's
first multinational company, Don Argus of National Australia
Bank, Peter Sutch of SWIRE, a British trading house in Hong Kong,
Kim Kwang- ho of South Korea's Samsung Electronics, Thaksin
Shinawatra of Thailand's Shinawatra Group, Wang Yung Chin of
Taiwan's Formusa Plastics, Quek Leng Chan of Malaysia's Hong
Leong Group and Sim Kee Boon of Singapore's Keppel Corp.

The magazine also named the 10 best executives for Europe, the
winner of the CEO of the year award and nine other executives as
Silver award winners.

Founded by William Soeryadjaya in the 1950s, Astra has become
Indonesia's second largest company since acquiring exclusive
sales licenses for Toyota, Komatsu and Xerox. In time, Astra
gradually acquired the technology to assemble all of these
products on its own in Indonesia.

"That leads to steady growth and a reputation as the best
managed company in the country. The CEO, Theodore Rachmat, was
especially highly regarded," commented the magazine about the
Indonesian winner. (hen)