The financially-troubled Indonesian car-maker, Astra International, has announced that a new President is to take over the company.

The new head is a former president of Astra, Theodore Rachmat; he replaces Rini Suwandi, who correspondents say is well-respected in Indonesiain business circles.

The company also said its Finance Director would be replaced, although no appointment has yet been made.

Astra International, Indionesia's largest car-maker, has large debts, and needs about $150m to pay this year's loans. It will also embark on a three-year programme to sell some of its assets to raise more than $400m.

From the newsroom of the BBC World Service