Asia restructuring is taking hold

The Asian crisis highlighted the extent of poor corporate governance and financial planning. After a period of resistance, these companies are showing their ability to change and adopt greater shareholder focus. While restructuring is going on at all levels, (political reshuffling in Indonesia, regulatory changes in Thailand) it is the change in corporate governance that is most significant. The break-up of inefficient conglomerates has emancipated highly profitable companies. The introduction of foreign partners in M&A activity is introducing better work practices. The enforcement of...