Indonesian Political, Business & Finance News

Archive: 10 June 1994

56 articles found

Peregrine, Sewu jointly set up investment firm

Peregrine, Sewu jointly set up investment firm JAKARTA (JP): The Hong Kong-based Peregrine Investment Holdings, the largest Asian investment bank outside of Japan, is expanding its business here to participate in the growing economies of South East Asia, Chairman Philip Tose says Tose said in a press conference yesterday that Peregrine teamed up with the Jakarta-based Gunung Sewu Group to found Peregrine Indonesia Fund (PIF), a Cayman Island investment company listed on the Irish Stock...

`Black Monday' highlights China's aviation woes

`Black Monday' highlights China's aviation woes By Philippe Massonnet BEIJING (AFP): A "Black Monday" that within hours saw China's worst airliner disaster followed by the new hijacking of a domestic flight to Taiwan cruelly expose the problems riddling the country's aviation industry.

Aluminum plant operates in Bekasi

Aluminum plant operates in Bekasi JAKARTA (JP): Minister of Industry Tunky Ariwibowo inaugurated yesterday PT Indoaluminium Intikarsa, an aluminum plant, in Bekasi, West Java. Indoaluminium's president, Ibrahim Risjad, said that the plant, constructed with an investment of Rp 100 billion (US$43.38 million), has a production capacity of 10,000 tons aluminum per annum, comprised of 4,000 tons of aluminum sheets and 6,000 tons of aluminum foil.

BPK plans to report to the House twice a year

BPK plans to report to the House twice a year JAKARTA (JP): The Supreme Audit Board (BPK) yesterday announced plans to increase reports of its supervision of government budget spending to the House of Representatives (DPR) from one to two a year. "BPK and DPR will attempt to improve supervision of the government's financial expenses," the board's chairman, J.B. Sumarlin, told reporters after swearing in 47 board officials.

Banks reluctant to give loans to shipping firms

Banks reluctant to give loans to shipping firms JAKARTA (JP): The reluctance of banks to provide loans for shipping companies has hampered the development of the country's maritime industry, a banking leader says. "There is a substantial gap between supply and demand for sea transportation credits," chairman of the Advisory Council of the Association of Private Domestic Banks, I Nyoman Moena, told a seminar yesterday.

Ailing Alatas to take further heart treatment in Australia

Ailing Alatas to take further heart treatment in Australia JAKARTA (JP): Minister of Foreign Affairs Ali Alatas is recovering from a mild heart attack he sustained two weeks ago but he has been ordered by doctors to undergo further treatment in Australia. "I'm feeling much better, things are now under control," Alatas told a reporter from The Jakarta Post, who visited him at his room at the Medistra hospital in Central Jakarta yesterday.

New Roots at Cafe Batavia

New Roots at Cafe Batavia By David Zweifler JAKARTA (JP): When it comes to reggae, I've been spoiled. Instead of studying, fortunately or unfortunately, I spent most of my University career in small, smoke-filled reggae bars on the north side of Chicago. And while Chicago doesn't have the same reputation for reggae that it does for the blues, I did get the chance to see Jimmy Cliff, Inner Circle and others before they became foreign MTV's pick of the month.

Navy told to work within budget

Navy told to work within budget JAKARTA (JP): President Soeharto, acknowledging the Indonesian Navy's needs to bolster its fleet to defend the archipelago's vast waters, says it still has to operate within the budget. Soeharto however gave his full endorsement to the plan to develop a Navy base in Teluk Ratai on the southern tip of Sumatra by making a visit there yesterday.

`TVRI' vows to be your World Cup station

`TVRI' vows to be your World Cup station By Richard Pedler JAKARTA (JP): Saluran Piala Dunia Kebanggaan Anda, which translates roughly as "Proud to be your World Cup Station" could not be a less appropriate term to describe RCTI's contribution to Indonesia's USA '94 coverage.

Residents demand rise in land compensation

Residents demand rise in land compensation JAKARTA (JP): Bidaracina subdistrict residents in East Jakarta complained to the City Council yesterday over the size of compensation given them for their land, which the government wants for an apartment project. The residents, represented by 13 people, told members of the City Council's commission A on agrarian affairs that the East Jakarta authorities had not discussed the compensation with them.

Govt eases screening against communists

Govt eases screening against communists JAKARTA (JP): Minister of Justice Oetojo Oesman said the government is thinking about loosening screening procedures to detect past communist links for those applying for jobs in the administration and other strategic positions. Oetojo said the government is currently reviewing the policy, but stressed that certain sectors, such the Armed Forces (ABRI), will continue with the procedure.

City Hall to open writing contest

City Hall to open writing contest A writing competition will be held in commemoration of the 467th anniversary of Jakarta and Indonesia's 49th Independence Day, in order to gain public input on development in the city. The competition takes the theme of Public Involvement in Managing the Problem of Least Developed Villages in Jakarta. The contest is only open to those who have had their work previously published in a Jakarta based, Indonesian language publication.

NGOs discontent with women's plan of action

NGOs discontent with women's plan of action JAKARTA (JP): Officials at an Asian Pacific women conference sailed through the process of drafting a plan of action for the region's development of women, ignoring calls from non-governmental organizations (NGOs) for stronger statements. "There was no serious debate," said the Philippines' Patricia B. Liucanan who chaired the drafting committee.

Skyscraper inhabitants more likely to get sick

Skyscraper inhabitants more likely to get sick JAKARTA (JP): At least 85 percent of skyscrapers in the city, mostly those owned by the government, are not well maintained, posing the threat of illness to the users. Henri S Chandra, from the Building Care Association, was quoted by Antara as saying during a press discussion yesterday that owners of the buildings do not properly maintain them. According to data at the Municipal Fire Department there are around 400 high-rise buildings in Jakarta.

IFAD signs loan to help develop cashew plantation

IFAD signs loan to help develop cashew plantation JAKARTA (JP): The government and the Rome-based International Fund for Agricultural Development (IFAD) signed a loan agreement yesterday providing US$26.01 million in aid to help finance cashew plantations for small landholders in eastern provinces. The agreement was signed here by IFAD president Fawzi al- Sultan and Director General for Budgetary Affairs Darsjah. Jeremy G.L.

Tidal wave toll up to 204

Tidal wave toll up to 204 SURABAYA, East Java: The number of people killed in the tidal waves which swept across villages in southeast Java last week reached 204 when three more bodies were found on Wednesday. Most of the victims were the people living in the Banyuwangi regency, while the rest came from other areas such as Jember, Malang and Blitar. Antara reported yesterday that 22 people were still unaccounted for.

Supreme Court open to petition against PP20

Supreme Court open to petition against PP20 JAKARTA (JP): The Supreme Court says it is open to petition for a judicial review of the government's recent economic deregulation package which has sparked public debate. Chief Justice Purwoto Gandasubrata, asked to comment on the debate about the legality of the deregulatory measures, said the Court will act only if presented with a formal application for a judicial review.

Kartono re-elected chairman of parenthood association

Kartono re-elected chairman of parenthood association SEMARANG, Central Java (JP): Kartono Muhamad, a well-known physician and columnist, was re-elected chairman of the Indonesian Planned Parenthood Association (PKBI) at a congress that ended yesterday. Winning 56 votes, Kartono defeated his competitors, economist Prijono Tjiptoherijanto and Sarlito Wirawan Sarwono, who got 26 and four votes respectively.

RI shuttlers might be ill prepared for Asia Cup

RI shuttlers might be ill prepared for Asia Cup JAKARTA (JP): Badminton legend Rudy Hartono has expressed concern over the preparation of Indonesia's shuttlers, still on a national tour to celebrate recent Thomas and Uber victories, for the upcoming Asia Cup in China next week. "I fear that our players are still in a celebratory mood after winning both the Thomas and Uber Cups last month," Rudy said here Wednesday.

Fire razes 20 houses

Fire razes 20 houses BANJARMASIN, South Kalimantan: At least 20 houses were razed by fire in the Pelambuan district on Thursday morning. The is the second major fire in the city in the last two weeks, following one that gutted a market in Banjar Barat district, Antara reported yesterday. The fire was believed to have originated from a plywood factory. It was extinguished within two hours. There were no reported casualties. (rms)

Banks criticized for write-off of bad loans

Banks criticized for write-off of bad loans JAKARTA (JP): Accountants yesterday criticized commercial banks' recent steps to write off part of their bad loans to improve their image in their financial reports. Chairman of the Indonesian Accountants Association (IAI) Katjep K. Abdoelkadir said in a seminar yesterday that a bank could not directly write off a creditor's bad debt without using general accounting procedures.

Bank supervision tightened

Bank supervision tightened The measures being taken to cope with problem loans and the new mechanism of bank supervision being implemented by the monetary authority reassure us of the long-term, sound foundation of the banking industry. The US$440 million loan scandal at the state Development Bank of Indonesia (Bapindo) seemed to teach all of us a great, though an expensive, lesson.

Democratic process always slow in any country

Democratic process always slow in any country A number of politically-charged events occurring these days have left the public wondering: Has there been a rift among the political elite? And what about the appearances of covert notes with racial overtone? Political scientist Amir Santoso grabs these questions. JAKARTA (JP): Pamphlets were reported to have been circulating last week among members of the Chinese community, warning them to expect anti-Chinese demonstrations.

The Listening Post

The Listening Post * The issue of native-speaker instructors vs. Indonesian-national teachers of English was raised once more, in a contribution to the "Your Letters" column in last Saturday's Jakarta Post. Mr.

More jobs needed for apprentices

More jobs needed for apprentices Private and state-owned companies are being urged to lend their full support to the government-sponsored apprenticeship program for senior high school students during the upcoming school holidays. "So far, only 40 companies with around 10,000 job openings have confirmed their participation in the program ," said Eka Sudarba, a section head at the Jakarta Office of the Ministry of Education and Culture.

French-Indonesian cooperation at a violin recital

French-Indonesian cooperation at a violin recital By Gus Kairupan JAKARTA (JP): In contests, anything but first place is a loser. This does not necessarily mean that those who lost are less noteworthy. Second place in one of the top violin competitions in the world, the "Yehudi Menuhin Competition" (UK), certainly is nothing to sneeze at. Even more so for a 13-year-old Polish boy.

Discord among the ministers

Discord among the ministers Problems caused by lack of coordination among government institutions have occurred for many years, and that is why a system called KISS -- coordination, integration, synchronization, and simplification -- was implemented. The most recent case of discord among ministers is between Minister of Research and Technology B.J. Habibie and Minister of Finance Mar'ie Muhammad over the purchase of second-hand German warships.

RI, China get WB loans

RI, China get WB loans WASHINGTON (Reuter): The World Bank said it approved a $174 million loan to Indonesia to back a government project to improve services in the two largest cities in Central Java. The World Bank also said it granted US$580 million in loans for China to help it improve its transportation system and protect its forests.

Australian festival at TIM

Australian festival at TIM The Taman Ismail Marzuki (TIM) arts center in Central Jakarta will hold an Australian cultural festival from June 13 to July 3. The festival will be opened by Coordinating Minister for Industry and Trade Hartarto. The festival is being held in conjunction with the Australia Today Indonesia '94 exhibition, which will present several Australian cultural performances.

Military offers services to detect `paid jockeys'

Military offers services to detect `paid jockeys' JAKARTA (JP): Military personnel are prepared to help safeguard the upcoming state university entrance test (UMPTN) against jockeys, paid persons who furtively take the test on behalf of accredited students to improve their scores. The chief of the Jakarta chapter of the Agency for the Support of National Stability (Bakorstanasda), Maj. Gen.

Stock Exchange

Stock Exchange JAKARTA (JP): Share prices on the Jakarta Stock Exchange (JSX) recovered yesterday after declining throughout the week. The broad-based Composite Index closed slightly higher at 485.76 yesterday from 484.90 Wednesday. Meanwhile, the narrower-based GTDBS Index rose to 115.66 from 115.62. Among yesterday's top gainers were Metrodata (up Rp 1,000), Multipolar (up Rp 600), Panca Wiratama Sakti (up Rp 350), Jaya Pari (up Rp 300), Sari Husada and Unggul Indah (up Rp 250 each).

Business outlook in hotel industry remains promisings

Business outlook in hotel industry remains promisings JAKARTA (JP): The hotel industry is expected to continue booming in the coming years here despite the surge of new hotels throughout the capital. "Based on the rising number of tourists and the number of hotel rooms available there is still potential for great demand," said Ign. Haryadi, the human resources director of the Santika hotel group. The record growth of tourism according to Haryadi is another reason for this optimism.

Milan-Persib match claims break even

Milan-Persib match claims break even JAKARTA (JP): Organizers of the soccer friendly which featured Italian giant AC Milan against national amateur champion Persib Bandung claimed to break even, although calculations are still in progress. "We will complete our final calculations within the next week," Haidar Bagir of Republika daily, the match's organizer, said through a fax released on Wednesday. "We estimate profits or losses at around Rp 100 million (US$46,700)," Haidar added.

PT UIC plans to establish $7.25m subsidiary in Vietnam

PT UIC plans to establish $7.25m subsidiary in Vietnam JAKARTA (JP): PT Unggul Indah Corporation (UIC), Indonesia's only producer of alkylbenzene, will establish a subsidiary in Vietnam, distribute cash and share dividends and issue bonus shares. The company's president, Johannes Kotjo, said after annual and extraordinary meetings of its shareholders yesterday that the planned Vietnamese subsidiary, called UIC Vietnam Co.

TV Today: Friday, June 10, 1994

TV Today: Friday, June 10, 1994 TV today TVRI 2:30 p.m Cartoon: I'm Telling 3:05 Langka & Unik 3:30 Science Film: Zero One Magazine 4:00 Student Quiz 4:30 Flora Fauna: Heart of Courage 5:00 Regional News 5:30 Management Tricks: Time Management 6:05 Nusantara the beloved country: West Java 6:15 Village Program 6:45 Handicraft: Wooden Ornaments 7:00 Evening News 7:30 Dinamika 8:05 Music 9:00 World News 9:30 Quiz: Siapa Dia 10:35 Late News 10:45 Film: The Stranger in 7A Program 2 4:30 p.m.

Nobuhiro sure he'll be in top 10 at Medan rally

Nobuhiro sure he'll be in top 10 at Medan rally JAKARTA (JP): Undaunted by the task of challenging `goliaths' in the Bentoel Rally Indonesia, Japan's Tajima Nobuhiro is convinced he will fare well at the June 17 event.

Cultured expats AWOL

Cultured expats AWOL I regret that the expatriate community missed out on an excellent performance of Twilite Orchestra III at the Jakarta Convention Center on May 7, 1994. The hospitality industry endeavors to bring culture and music to the fair city of Jakarta for the enjoyment of all people. However, it saddens me to see only a few dozen expatriates in a crowd of a few thousand witnessed the superb efforts of some outstanding local artists.

Blaming game continues in Bapindo scam trial

Blaming game continues in Bapindo scam trial JAKARTA (JP): Two former Bapindo directors testified yesterday that they knew nothing about the status of the enormous loans made to Eddy Tansil until 1992, in marked contrast to the testimony of other witnesses. Bambang Kuntjoro and Towil Heryoto said the board of directors did not receive a report on the status of Tansil's loans until April 1992, three years after the bank began extending him credit.

Sentul will soon have world-class hospital

Sentul will soon have world-class hospital JAKARTA (JP): An Indonesia-Singapore joint venture company, Gleneagles Hospital Corporation, will build an international- standard hospital with a total investment of Rp 60 billion (approximately US$28 million) in the plush Royal Sentul Highlands housing complex. The Memorandum of Understanding (MOU) for the project was signed here at a ceremony by Bambang Trihatmodjo and James T.

Get rid of the bum

Get rid of the bum As a faithful subscriber to The Jakarta Post since it first became available and at the risk of being grouped into Mr. Peter B. Doering's "complaining Americans" category, I must point out that your newspaper is being, sadly, used and abused by this writer. As an English language newspaper, for the most part, you do a great job but, a reoccurring fault is your kind naivete toward the letter writers who have some personal axe to grind. That Mr.

Batak reverends threaten to seek political asylum

Batak reverends threaten to seek political asylum JAKARTA (JP): Dissident reverends of the Toba Batak Protestant Church (HKBP) yesterday threatened to seek political asylum unless the Armed Forces Chief gives them a written guarantee of their safety. The about 300 reverends and their congregations spent their fourth day staging a sit-in at the House of Representatives (DPR) foyer with no prospect of getting what they want. "Seeking asylum would be our last resort.

Ship material duties lifted

Ship material duties lifted JAKARTA (JP): The government has lifted duties on imports of 299 kinds of materials used for ship repairs and maintenance in a bid to support the development of the country's shipbuilding industry. Agus Haryanto, spokesman for the Ministry of Finance, said yesterday that the Minister of Finance's Decree No. 192/1994 on the lifting of duties were retroactive to April 1. He said the 299 materials used to be subject to import duties of five percent to 40 percent.

Angklung music festival planned

Angklung music festival planned The City Education Office plans to hold an angklung music festival as part of efforts to popularize the traditional music among elementary school students . The festival will be held at the Jakarta Play House today. Forty-five students from 26 elementary schools in the city, under the guidance of conductor Obby AR, will take part in the festival which is scheduled to last an hour and half. Angklung, which hails from Java, used to be popular music among youth.

Closed door busing policy remains in effect

Closed door busing policy remains in effect JAKARTA (JP): A city police officer says that the ongoing ruling which requires the doors of public transit vehicles to remain closed while in motion will remain in effect. The temporary exemption from the ruling for Mikrolet and other buses with fewer than 12 seats as well as those operating on the outskirts of the city will soon end, Col. Hotman Siagian, head of the City Traffic Police Directorate, said.

Moerdiono to open posh tennis complex

Moerdiono to open posh tennis complex JAKARTA (JP): Minister/State Secretary Moerdiono, in his capacity as chairman of Tennis Development Foundation Indonesian (Yaporti), is scheduled to inaugurate a Rp 8 billion (US$ 3.8 million) tennis complex built by various companies in Kemayoran, Central Jakarta today. The tennis complex, which covers a 4.3 hectare site, features nine outdoor courts, 10 indoor courts and a tennis-stadium.

Shouteast Asia boom likely to continue

Shouteast Asia boom likely to continue SINGAPORE (AFP): The Chinese economy has passed its peak but real economic growth in Southeast Asian nations will continue to accelerate as inflationary fears in Asia abate, US stockbroker Merrill Lynch says.

Entry `tax'

Entry `tax' Approximately two weeks ago I came to Indonesia landing at Denpasar, Bali. Having completed my immigration and customs forms on the plane, I walked through the immigration checkpoint with no problems at all. However I had a different experience at the customs counter. Although my three medium-size bags contained nothing more than the usual quantity of clothing and toiletries etc.

State-of-the-art share depository built in Bombay

State-of-the-art share depository built in Bombay By Madhu Nainan BOMBAY (AFP): Construction of India's largest and most advanced depository for shares is underway in New Bombay, a satellite city across the harbor from the country's financial capital, paving the way for computerized trading on Indian bourses. The Central Securities Depository, being built by the Stock Holding Corp.

No Paper

No Paper In observance Islamic New Year, The Jakarta Post will not be published tomorrow. The Post will resume publication on Monday. -- Publisher

New firm to set up copper smelting plant

New firm to set up copper smelting plant JAKARTA (JP): An Indonesia-New Zealand joint venture, PT Copper Smelter Indonesia (CSI), is challenging PT Freeport Indonesia to compete on the establishment of the country's first copper smelter plant. Armand J. Nasution, chief commissioner of CSI, said here yesterday that like Freeport, his company also plans to set up a copper smelting facility in Gresik, East Java, with an investment of US$648 million.

Where to go in Jakarta:

Where to go in Jakarta: Music * The Aryaduta Jakarta, Jl. Prapatan 44-48, Central Jakarta: - Ambassador Lounge: Amir (pianist) Monday to Friday 7:30 a.m. to 9:30 a.m., Saturday 8 a.m. to 10 a.m.; Boece (pianist) & Rima Monday to Thursday 7 p.m. to 11:30 p.m., Friday & Saturday 7 p.m. to 00:30 a.m.; Jakarta String Fantasy Trio (chamber music) Sunday 12:30 p.m. to 3:30 p.m., Monday to Saturday 3:30 p.m. to 6:30 p.m.; Yusuf (pianist), Sunday 7 p.m. to 11:30 p.m.

Medan hit by storms

Medan hit by storms MEDAN, North Sumatra: Rain and gusts of wind pounded the city for two hours on Thursday, leaving trees scattered in the streets and destroying some houses. There were no reports of casualties, the Antara news agency reported. Many motorists were caught in the rain when some main roads flooded, causing huge traffic jams. A number of districts also had blackouts. One huge tree nearly fell on the former palace of Deli's sultan, the report said. (emb)

Postgraduate class gets new executive

Postgraduate class gets new executive Prof. Retno Sutaryono, a law and environmental expert, was appointed as head of Postgraduate Program for Environmental Science at the University of Indonesia. Retno replaced Prof. Soerjani, who will return to the Biology Department of the Faculty of Mathematics and Natural Sciences of the university, where is a permanent member of staff in ecology. Prof. H. Rustamadji, senior advisor for the Center of Research of Human Resources and Environment, said Prof.

Electricity projects

Electricity projects Regarding the article "Influence brokers inflate prices of electricity plants," the latest statement by Indonesia's electric utility, PLN (state electricity company), that it must go ahead with three controversial power projects (Muara Tawar, Tambak Lorok II and Grati) is unfortunate, for these projects do not represent the best way to progress toward greater efficiency and higher quality of service.

Firm not to give dividends

Firm not to give dividends JAKARTA (JP): PT Mulia Industrindo, a ceramics and glass producer listed on the domestic stock exchanges, yesterday announced not to distribute dividends even though it gained an after-tax profit of Rp 11.26 billion (US$5.22 million) last year. "We will not distribute dividends because the profit was made before the company went public," the company's president, Eka Tjandranegara said in an annual meeting of its shareholders here.

Minister's remarks draw media fire

Minister's remarks draw media fire KUALA LUMPUR (Reuter): Relations between Kuala Lumpur and London ran into further problems yesterday with Malaysia demanding clarification of remarks made by visiting British Trade Minister Richard Needham. Malaysia wants Britain to clarify Needham's statement earlier this week that Britain will be pressured to retaliate the longer Malaysia continues with its policy of banning British companies from Malaysian government contracts.