Indonesian Political, Business & Finance News

Archive: 16 December 1994

18 articles found

Cut in tax rates will not affect state revenue, says economist

Cut in tax rates will not affect state revenue, says economist JAKARTA (JP): M. Arsjad Anwar, a professor at the University of Indonesia (UI), said here yesterday that the cut in the income tax rates will not affect the country's tax revenues. Speaking at a seminar on a strategic study about the 1994 tax law, Arsjad said that the cut in income tax revenues could be offset by higher receipts expected from the extension of withholding taxes and the increase in luxury sales tax tariffs.

SGS finishes desk work assessment on timber companies

SGS finishes desk work assessment on timber companies JAKARTA (JP): Minister of Forestry Djamaludin Suryohadikusumo said the Geneva-based Societe Generale de Surveillance (SGS) has finished a "desk-work" assessment on three timber companies planning to go public.

Land compensation

Land compensation News about restless land owners in Tarumajaya village in Bekasi, near Jakarta, due to the very low land compensation of Rp 50 (US$0.023) per square meter, has touched us deeply. Once again we hear similar stories about incredibly low land compensation in Bekasi given to villagers who will later see that luxurious buildings to the tune of millions of rupiah are replacing their houses.

Police seize

Police seize 12 firearms PALEMBANG, South Sumatra: Police in Ogan Komering Ulu district have seized 12 firearms this year from unauthorized hands. Police precinct chief Lt. Col. Manan Ch. Rahman said that nine of the firearms ranged from home-made rifles to pistols usually used by the armed forces. The firearms were confiscated from thugs who have long been scaring residents in the area, he said when meeting with officials from the armed forces headquarters in Jakarta.

Four more students accused of defamation released

Four more students accused of defamation released JAKARTA (JP): Four students convicted of defaming President Soeharto during a demonstration at the House of Representatives (DPR) last year, were released yesterday after finishing their one year jail terms. Yeni Rosa Damayanti, Teddy Wibisono, Gunardi Aswantoro, and Wandy Nicodemus T. became free citizens after being detained in December of last year.

Foreign shipping firms to pay higher tax

Foreign shipping firms to pay higher tax JAKARTA (JP): Tax Director General Fuad Bawazier said here yesterday that the withholding tax imposed on foreign shipping companies will be increased as part of the government's tax extension program. "I hope to announce the new rate later this month," he told newsmen when he was asked about the dominance of foreign shipping companies in the country.

JAKARTA (JP): Share prices continued closing higher on the

JAKARTA (JP): Share prices continued closing higher on the Jakarta Stock Exchange (JSX) here yesterday with most issues gaining ground in light trading. The broad-based JSX Composite Index closed at 458.93, more than five points higher than Wednesday's 453.37. The narrower-based GTDBS-50 Index also closed higher at 107.74 from 106.62.

Protectionist measures no longer relevant

Protectionist measures no longer relevant JAKARTA (JP): Protectionist measures are no longer relevant since the conclusion of the Uruguay Round of negotiations on the General Agreement on Tariffs and Trade (GATT), the planned trade liberalization among APEC members, State Minister of Investment Sanyoto Sastrowardoyo said yesterday.

The PDI predicament

The PDI predicament When Megawati Soekarnoputri, the eldest daughter of this nation's first president, Sukarno, was elected to the chair of the Indonesian Democratic Party (PDI) in a chaotic, yet democratic, party congress last year in Surabaya, East Java, many observers predicted she would soon be overwhelmed by "problems". She certainly has been.

Alms collection plan greeted with caution

Alms collection plan greeted with caution JAKARTA (JP): President Soeharto's plan to collect alms from workers in the private sector received a warm, albeit cautious, reaction from some quarters. While most people interviewed said they agreed with the charitable nature of the plan, some were concerned over the administration of such a large undertaking. Labor activist Fauzie Abdullah criticized the institutionalization of alms collection and raised the question of a control mechanism.

Japan gets refinery order

Japan gets refinery order TOKYO (AFP): Japan's Tomen Corp. and JGC Corp. have won a US$200 million order from Indonesia's state-run oil and gas company Pertamina to modernize an oil refinery, a Tomen spokesman said yesterday. The spokesman said the trading house and the engineering company hoped to finalize the contract early next year after financial details are worked out.

Pancasila symbolizes religious harmony, American scholar says

Pancasila symbolizes religious harmony, American scholar says By Prapti Widinugraheni JAKARTA (JP): Pancasila, the Indonesian five-point state ideology, is a unique concept which stems from a culture of high religious tolerance, an American scholar says. Douglas E.

State-controlled concessionaires to save the forests

State-controlled concessionaires to save the forests JAKARTA (JP): Minister of Forestry Djamaludin Suryohadikusumo yesterday assured that the acquisition of shares at private forest concessionaires by state-owned companies is aimed mainly to save the country's forests from further destruction. Speaking at a forestry seminar yesterday, he said what really concerns him is that private timber companies might only try to make profits without giving any attention to forest preservation.

Tariff team shaken by protectionism controversy

Tariff team shaken by protectionism controversy JAKARTA (JP): The government is restructuring the team on tariff and fiscal affairs amid controversy over the proposed protection of a new olefin project and the opposition to the imposition of new, high tariffs from prominent economist Sumitro Djojohadikusumo. State Minister of Investment Sanyoto Sastrowardoyo told reporters here yesterday that President Soeharto, under Presidential Decree No.

Land compensation

Land compensation News about restless land owners in Tarumajaya village in Bekasi, near Jakarta, due to the very low land compensation of Rp 50 (US$0.023) per square meter, has touched us deeply. Once again we hear similar stories about incredibly low land compensation in Bekasi given to villagers who will later see that luxurious buildings to the tune of millions of rupiah are replacing their houses.

Police seize

Police seize 12 firearms PALEMBANG, South Sumatra: Police in Ogan Komering Ulu district have seized 12 firearms this year from unauthorized hands. Police precinct chief Lt. Col. Manan Ch. Rahman said that nine of the firearms ranged from home-made rifles to pistols usually used by the armed forces. The firearms were confiscated from thugs who have long been scaring residents in the area, he said when meeting with officials from the armed forces headquarters in Jakarta.

Govt. criticized for compromising with polluters

Govt. criticized for compromising with polluters JAKARTA (JP): A legislator lashed out at the government yesterday for being over-tolerant with polluting industrial companies. "It is time to stop compromising with the polluters. The government must take strict action against them," Markus Wauran, chairman of House of Representatives' commission which deals with environmental issues, told journalists.

Overuse of `do not' can destroy children's initiative

Overuse of `do not' can destroy children's initiative JAKARTA (JP): Many parents have heard advise against using the words "do not" too often when dealing with their kids, but how many have realized that IQ tests and children's ranking in their classes can also be a kick in a child's ego? Three experts in education, Conny Semiawan, a professor from the Jakarta Teachers' Training and Education Institute (IKIP); Father J.