HSBC takes measures on RI

HSBC takes measures on RI

HONG KONG (Reuters): The Hongkong and Shanghai Banking Corp, a unit of HSBC Holdings Plc, said yesterday it was taking steps to ensure it would get back billions of U.S. dollars in loans to Indonesian businesses.

"We have drafted in additional resources," Hongkong Bank Group chairman John Strickland told reporters.

"We are being very careful to put in place as sound procedures as we can to make sure we get repaid," he said.

Strickland said the HSBC Group had about US$2.5 billion in loan exposure to businesses in Indonesia. He gave no details of what the procedures were.

Anti-government protests have been increasing in Indonesia, sending stocks and the rupiah plummeting yesterday.