More people jump on 'Love Rupiah' bandwagon<\/p>\n
JAKARTA (JP): Real estate executives joined the \"Love Rupiah\"
\ncampaign yesterday, exchanging US$30,000 for the national
\ncurrency, even though the property sector was the first and
\nhardest hit by the monetary crisis.<\/p>\n
\"We support the campaign because it is in our own interest,\"
\nEnggartiasto Lukita, one of several developers to sell dollars,
\nsaid.<\/p>\n
The campaign shifted into high gear with people whose
\nbusinesses are in dire straits joining government officials,
\npoliticians and military officers in the spontaneous movement to
\nshore up confidence in the battered currency.<\/p>\n
The president of CalEnergy Asia, an American company which has
\nseen several of its geothermal projects in Indonesia scrapped or
\nreviewed by the government because of the crisis, also took part.<\/p>\n
Donald M. O'Shei, appeared at a local branch of Bank of
\nAmerica to convert $450,000 into rupiah at Rp 7,300 to the
\ndollar.<\/p>\n
\"Our company is proud to be the first international company to
\njoin the 'Love Rupiah' campaign. We consider ourselves to be a
\nmember of the Indonesian community \" O'Shei said, adding that the
\nsum was symbolic of its continued support of Indonesia.<\/p>\n
The Indonesian Editors Group, an organizer of one of the
\ndrives in the campaign, said $4.7 million were sold yesterday.<\/p>\n
By far the biggest donor was a cocoa exporter from Central
\nSulawesi whose name has rarely been heard in Jakarta, Haji Murad
\nHusein. The group said this man from Luwuk converted $1 million
\nat the BDN in Palu yesterday, after selling $2 million Tuesday.<\/p>\n
The group's campaign yesterday was focused at Bank Dagang
\nNegara's office on Jl. Thamrin. It was spearheaded by three
\ncabinet ministers -- Minister of Investment Sanyoto Sastrowardoyo
\n($2,000), Minister of Manpower Abdul Latief ($17,000) and
\nMinister of Public Housing Akbar Tandjung (US$1,500).<\/p>\n
Armed Forces Chief of Sociopolitical Affairs Yunus Yosfiah
\nturned up to sell $2,200.<\/p>\n
The absence of the country's richest tycoons from the campaign
\nwas not missed by the military.<\/p>\n
Armed Forces (ABRI) chief spokesman Brig. Gen. Wahab
\nMokodongan said the military had phoned 13 tycoons of Chinese
\ndescent to ask them to join the campaign by selling their
\ndollars. \"It would even be better if they donated their dollars.\"<\/p>\n
Wahab did not conceal his disappointment at their absence.<\/p>\n
He said they reaped so much profit when the economy was stable
\nthat it was natural to expect them on the frontline.<\/p>\n
Many ABRI members have joined the \"Love Rupiah\" campaign, but
\nsoldiers were being urged to donate, rather than sell their
\ndollars. \"It is more respectable to donate, even if it is only
\none dollar,\" he said, adding that most of these dollars were
\nleftover from ABRI members' foreign visits.<\/p>\n
Real estate<\/p>\n
Among real estate executives taking part yesterday were Edwin
\nKawilarang (Bimantara Group), Kosmian Pudjiadi (Pudjiadi
\nPrestige), Soeksmono and Herman Soedarsono (Duta Graha), Suyanto
\nGondokusumo (Dharmala) and Budiarsa Sastrawinata (Ciputra Group).<\/p>\n
Other business leaders included The Nin King from Argo
\nManunggal Group, Burhan Uray from Djajanti Group, Gowindasamy
\nMunusammy from Texmaco, Teddy P. Rachmat from Astra
\nInternational, Anthon Riyanto from Ritra Group, Mooryati Sudibyo
\nfrom Mustika Ratu, Rosita Noer from PT Kirana Satria Asta Enam
\nand Achmad Kalla from Kodel Group.<\/p>\n
Minister of Women's Affairs Mien Sugandhi took dozens of
\nbusinesswomen to Bank Bumi Daya's Kebon Sirih branch to sell
\ntheir dollars.<\/p>\n
The BDN office at the Manggala Wanabakti building took
\n$343,000 from forestry officials and businesspeople.<\/p>\n
Minister of Forestry Djamaludin Suryohadikusumo led the way,
\nselling $4,000 of his own funds, according to an aide.<\/p>\n
Prajogo Pangestu, chief commissioner of PT Barito Pacific
\nTimber, exchanged $30,000.<\/p>\n
Djamaludin said he had been appealing to all timber companies
\nto exchange their dollars for rupiah since October. Most of them
\nhave apparently complied.<\/p>\n
State forestry companies had converted their October to
\nDecember earnings of $36.68 million into rupiah, he said.<\/p>\n
Prajogo said Barito Pacific had converted $200 million since
\nDjamaludin's instruction, and would convert a further $600
\nmillion of its export earnings this year.<\/p>\n
Meanwhile, 22 members of the Jakarta Legislative Council
\nyesterday sold $2,843 at Bank DKI yesterday.<\/p>\n
\"I hope all councilors who have leftover dollars from their
\ntravels abroad will convert their money,\" said council speaker
\nEdy Waluyo.<\/p>\n
The Indonesian Editors Group said their campaign would move to
\nExim Plaza tomorrow. State Minister of Research and Technology
\nB.J. Habibie, Head of the Supreme Advisory Council Soedomo,
\nMinister of Education and Culture Wardiman Djojonegoro and Deputy
\nChairman of the National Development Body Rahadi Ramelan are
\nexpected to take part. (gis\/jsk\/ind\/imn\/emb)<\/p>",
"url": "https:\/\/jawawa.id\/newsitem\/more-people-jump-on-love-rupiah-bandwagon-1447893297",
"image": ""
},
"sponsor": "Okusi Associates",
"sponsor_url": "https:\/\/okusiassociates.com"
}