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Amedeo Development Corporation

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Amedeo Development Corporation (ADC), a private limited company owned by Prince Jefri Bolkiah, was Brunei's largest private company and played a significant role in Brunei's economy. However, the company faced considerable economic challenges during the 1997 Asian financial crisis, compounded by fluctuations in oil prices. In 1998, Brunei entered a moderate recession following the collapse of Amedeo, whose ambitious projects had previously driven domestic economic growth. Despite these setbacks, moderate yet steady economic growth was eventually restored, aided by rising oil prices and the successful reorganisation of Amedeo's investments.