Sinar Mas plans trading co. to cash in on import duty breaks

  • 28/06/1998

  • Economic Times (New Delhi)

The Indonesian paper giant Sinar Mas is planning to set up 100 per cent-owned trading subsidiary in India to take advantage of four per cent duty exemption of trading companies. The domestic paper industry, which was already upset with Indonesia giant setting up manufacturing facilities last year, has got the wind of it and is now up in arms. The industry has also moved the government to block Sinar Mas from setting up a trading company.