Indonesian Political, Business & Finance News

Archive: 22 July 1994

61 articles found

Lake fiesta in September

Lake fiesta in September WEST LAMPUNG, Lampung: The Danau Ranau festival, the cultural event for the people living in the regency, is being postponed until September because of the earthquake that jolted the area in February. The cultural festivity is usually held at the beginning of the year. West Lampung regent Hakim Saleh Umpusinga said the festival had been included in the regency's annual cultural programs.

Finnish company enters Indonesia's pulp industry

Finnish company enters Indonesia's pulp industry JAKARTA (JP): Enso Gutzeit of Finland will team up with PT Inhutani III, the state-owned forestry company, and a subsidiary of PT Gudang Garam to build a pulp mill in West Kalimantan. Forestry Minister Djamaloedin Suryohadikoesoemo said yesterday that the construction of the pulp plant, which will have a production capacity of around 400,000 tons per annum, will cost about US$600 million.

Adrianus seeks KO victory

Adrianus seeks KO victory JAKARTA (JP): Adrianus Taroreh promises a knockout victory over sixth ranked contender, Ernie Elesna of the Philippines, during their Orient and Pacific Boxing Federation (OPBF) title bout here on Sept. 29. "I will send Elesna kissing the canvas, no matter what round it happens," Adrianus commented at his training session in his hometown Manado on Wednesday. Adrianus, 29, will receive Rp 30 million (US$13,850) for his third title defense.

Apartment building for Tebet fire victims approved

Apartment building for Tebet fire victims approved JAKARTA (JP): Governor Surjadi Soedirdja has agreed to the controversial city administration's plan to build low-cost apartment buildings on a 1.8-hectare fire site in Tebet, South Jakarta. City Hall spokesman Soesila Darmoadji told reporters that the governor verbally expressed his approval of the apartment plans in a limited meeting of ranking city officials on Wednesday when South Jakarta Mayor Pardjoko brought up the issue.

Thief nabbed after drugging couple and stealing Mercedes

Thief nabbed after drugging couple and stealing Mercedes JAKARTA (JP): Central Jakarta police have captured an automobile showroom employee believed to have stolen a Mercedes- Benz sedan from a rich couple after drugging them. "As far as I know, no one has ever used this modus operandi as far as vehicular theft is concerned," Maj. Charles Marpaung, chief of detective section at the Central Jakarta police precinct, told reporters yesterday.

Business groups set up forum of cooperation

Business groups set up forum of cooperation JAKARTA (JP): Indonesian business associations established a forum yesterday to face the increasing competition in the global economy following the implementation of the new principles of the General Agreement on Tariffs and Trade (GATT). A number of powerful business people, including the president of Sahid business group, Sukamdani S. Gitosardjono, timber tycoon Muhammad (Bob) Hasan and the chief commissioner of PT Astra International, A.R.

No duty on ship parts

No duty on ship parts JAKARTA (JP): The government has extended the zero percent import duty facility on ship parts and apparatus for shipping safety for another year. Agus Haryanto, a spokesman for the Ministry of Finance, said that the facility, which expired on March 31, has been extended for another year until March 31, 1995.

Authority starts dredging the Pluit reservoir to avoid flood

Authority starts dredging the Pluit reservoir to avoid flood JAKARTA (JP): The Pluit Environmental Management Board (BPLP), a city-owned company, has begun dredging the Pluit reservoir in West Jakarta in order to prevent the recurrence of seasonal floods plaguing nearby residential areas. "To optimize the capacity of the reservoir we are dredging up about 700,000 cubic meters of mud lying at the bottom of the reservoir," said Darrundono, the head of the BPLP, yesterday.

Stock Exchange

Stock Exchange JAKARTA (JP): Share prices on the Jakarta Stock Exchange (JSX) lost ground yesterday in moderate trading as cautious investors took another break. The broad-based Composite Index lost 1.4 point to close at 461.13 from 462.53 on Wednesday. The narrower-based GTDBS-50 Index also declined to close at 110.00 against Wednesday's 110.14.

Cultural team to visit France

Cultural team to visit France SURABAYA, East Java: A cultural team from East Java will represent Indonesia in the International Summer Art Festival in France starting on July 29. The 28-strong member team is headed by deputy governor for administration and welfare Harwin Warsito. During the festival, which lasts for a month, East Java will present 20 dances accompanied by gamelan and traditional singers, Antara reported. (par)

Citicorp doubles income

Citicorp doubles income JAKARTA (JP): Citicorp, the leasing and travelers check division of Citibank of the United States, reported an almost double increase in its net income for this year's second quarter. The income was up to US$877 million as compared to $466 million in the same period of last year. Citicorp's chairman, John S.

Pertina drops two boxers from Asiad

Pertina drops two boxers from Asiad JAKARTA (JP): The Indonesian amateur boxing association (Pertina) has dropped two pugilists from the team set for the 12th Asian Games in Hiroshima, Japan in October. National coach Ferry Moniaga said yesterday welterweight Aswin Cabui and bantamweight Herry Makawimbang were sent back to their respective hometowns of Jayapura, Irian Jaya and Jakarta last week.

Maintaining stability

Maintaining stability President Soeharto asks the Armed Forces to continue their function as an agent of stability and as an inspiration for the next 25 years, as they have done so to date. As an agent of stability, the Armed Forces should be able to create a climate conducive to the true functioning of all state institutions in the center of power and regions according to their respective missions.

Islands sprayed against Malaria

Islands sprayed against Malaria SUMENEP, East Java: A number of islets off the tip of Madura Island have been fumigated to prevent the spread of malaria. The action was taken after a resident died of the disease on Wednesday, and 35 others had to be admitted to the hospital, said chief of the Sumenep health office Muda'im. The sprayed islands included Sedulang, which is believed to be the seat of the mosquitoes causing malaria, Antara reported. (par)

S. Korea to buy more natural gas from RI

S. Korea to buy more natural gas from RI JAKARTA (JP): The Korean Gas Corporation is scheduled to initial contract agreements today for the purchase of 3.2 million tons of liquefied natural gas (LNG) per annum from the state oil company Pertamina, a senior official said yesterday. Director General of Oil and Gas Suyitno Patmosukismo told reporters of the plan after the opening of the 15th two-day meeting of the South Korea-Indonesian Joint Committee for Mineral Resources and Energy Cooperation.

Pepabri takes care of retiring soldiers

Pepabri takes care of retiring soldiers JAKARTA (JP): Pepabri, the association grouping retired members of the Armed Forces or their widows, promised yesterday to care for the welfare of its members as much as possible.

TV today

TV today TVRI 2:30 p.m TV Series: I'm Telling 3:05 Langka dan Unik 3:30 TV Series: Wars in Peace 4:00 Student Quiz 5:00 Regional News 5:30 Education Program 6:05 Nusantara the beloved country 6:15 Village Program 6:45 Karya Nyata 7:00 Evening News 7:30 Dinamika 8:05 Bintang Nusantara 9:00 World News 9:30 Quiz: Siapa Dia 10:35 Late News 10:45 Film: Deep Sea Conspiracy Program 2 4:30 p.m.

UI will get new law professor

UI will get new law professor H.M. Tahir Azhary, 55, a senior lecturer at the School of Law of University of Indonesia, will be inducted as professor at a ceremony at the university campus in Depok on Saturday. The public relations office of the university said yesterday Dr. Azhary will present a scientific paper entitled Islamic Law as the Source of Law. Born in Palembang, South Sumatera, Azhary finished his primary school in his hometown and secondary school in Jakarta.

Cathay's flights to Bali

Cathay's flights to Bali JAKARTA (JP): The Hong Kong-based air carrier Cathay Pacific will begin its extra service tomorrow, linking Hong Kong and Bali's capital city of Denpasar, bringing the total number of its weekly flights to the island to four. Cathay will operate 299-seat L1011-Tristars for the two additional schedules, which will be on Thursdays and Saturdays for flights to Hong Kong, and on Fridays and Sundays to Denpasar.

One dead in drug raid

One dead in drug raid BANDA ACEH, Aceh: Police said they shot dead one man during a drug raid in a nearby jungle and seized 31 kilograms of marijuana from the location. Nineteen other members of the syndicate however fled. Commandant of the southeast Aceh military district, Lt. Col. Tara, said the encounter with the members of the syndicate was by chance when security officers were paying a visit to the home of a village chief in the Blangkejeren jungle.

Homeless thieves of cars' side mirrors captured

Homeless thieves of cars' side mirrors captured JAKARTA (JP): Police announced yesterday that they have captured eight homeless criminals, including five minors and a fence, who were believed to have been behind a series of thefts of cars' side mirrors at traffic lights during traffic jams in Central Jakarta. "They were very skilled at the crime. It was only a matter of seconds for them to snatch a side mirror off a car," said Maj. A. Sitanggang, deputy chief of Central Jakarta police precinct.

Ferguson to delight jazz fans at Topaz

Ferguson to delight jazz fans at Topaz JAKARTA (JP): Jazz lovers here will be treated to a live performance today and tomorrow by noted American trumpeter Maynard Ferguson at the Topaz Club, Wisma Bakrie on Jl. H.R. Rasuna Said. Ferguson, winner of three Grammy Awards, promised yesterday to deliver a unique fusion piece of Indian and jazz music, besides favorites such as Birdland and the theme song from the film Rocky, Gonna Fly Now.

Top Vatican official visits RI

Top Vatican official visits RI JAKARTA (JP): A top official from The Vatican is currently in Indonesia for a series of meetings at the invitation of the local Roman Catholic Church and the Indonesian government. Francis Cardinal Arinze, president of the Pontifical Council for Inter-religious Dialog, will stay in Indonesia from July 21 to July 29, according to the Inter-religious Commission of the Indonesian Bishops Conference yesterday.

Loans made to protect river basin

Loans made to protect river basin JAKARTA (JP): The Ministry of Forestry will allow farmers to obtain loans derived from reforestation funds for the development of plantations aimed at conservation of river basin areas in Java and Madura.

Dili bishop invites national human rights commission

Dili bishop invites national human rights commission DILI, East Timor (JP): Bishop Carlos Filipe Ximenes Belo, the head of the local Roman Catholic Church, is appealing to the National Commission on Human Rights to come to the area where tension has emerged in the past two weeks. Belo said the Jakarta-based commission should come to East Timor to view the situation, especially given that one of its members hails from the area.

Indonesia is very near and dear to Japanese Ambassador Fujita

Indonesia is very near and dear to Japanese Ambassador Fujita By Riyadi Ambassador Kimio Fujita recently completed his tenure of office as head of the Japanese mission in Indonesia. Before leaving the country, Ambassador Fujita agreed to give an interview with The Jakarta Post to reflect on his nearly two year term in Indonesia. JAKARTA (JP): A foreigner singing Indonesian songs on television is nothing unusual, but when a foreign ambassador sings them it becomes a very special occasion.

ASEAN's future to be reshaped in crucial meetings

ASEAN's future to be reshaped in crucial meetings By Michele Cooper BANGKOK (AFP): Formed 27 years ago to counter a perceived threat from communist Indochina, ASEAN is gearing up this week for crucial decisions on reshaping its future -- including admitting former nemesis Vietnam.

Prosecutors want life imprisonment for Eddy Tansil

Prosecutors want life imprisonment for Eddy Tansil JAKARTA (JP): Government prosecutors yesterday demanded that the Central Jakarta Court sentence businessman Eddy Tansil to life imprisonment for masterminding the multi-million dollar scam at the government-owned Bank Pembangunan Indonesia (Bapindo).

Minister denies keeping gold coin

Minister denies keeping gold coin KUALA LUMPUR (AFP): Following a report of a Standard Chartered Plc probe into missing gold coins, a Malaysian minister said Thursday he had returned a US$10,000 gold coin given to him by a representative of the bank. Youth and Sports Minister Ghani Othman said the $10,000 gold coin was given to him as a sample three years ago by a representative of the bank's Hong Kong-based Mocatta bullion unit when he was deputy finance minister.

Bulgaria smashes Indonesia's dream at Federation Cup

Bulgaria smashes Indonesia's dream at Federation Cup FRANKFURT, Germany (Agencies): Bulgaria smashed Indonesia's dreams of making its only second quarterfinals appearance at the Federation Cup women's tennis team championship here, taking a 2- 0 winning lead for a place in the last eight.

Asian exporters' reliance on Japan fades

Asian exporters' reliance on Japan fades TOKYO (AFP): While Japanese exporters grow increasingly dependent on Asian markets, exporters in Asia are relying less on Japan as they sell more merchandise to each other, according to a finance ministry survey. The survey, covering trade in the context of international financial flows, found the Association of Southeast Asian Nations (ASEAN) had particularly reduced dependency on the Japanese market.

Council seeks poppy ban

Council seeks poppy ban PEKANBARU, Riau: The Ulema Council plans to issue a fatwa (religious instruction) calling on farmers in the northern Sumatra province of Aceh to stop planting poppy, from which marijuana is extracted. Chief of the Islam information section at the Aceh office of the Ministry of Religious Affairs Zainuddin Saman said most Aceh farmers cultivate the plant out of tradition, not knowing that their crops are being widely abused.

Top drivers join Palembang rally

Top drivers join Palembang rally JAKARTA (JP): More than 45 national top drivers will enter the third leg of the national rally championships series in Palembang, South Sumatra at the end of this month. National championship runaway leader Tony Hardianto, Ledi Kurnadi, Dolly Indra Nasution and Tommy Soeharto are among those who will pit their driving skills along the grueling 706- kilometer field. The two-day race will include 15 special stages held along rubber and palm oil plantations.

Environmental rating scheme delayed, needs more planning

Environmental rating scheme delayed, needs more planning BANDUNG (JP): The government has postponed its plan to begin rating manufacturing companies in terms of their environmental records because the program requires better preparation. State Minister of Environment Sarwono Kusumaatmadja told reporters yesterday that the program, originally to be introduced in June, has now been postponed indefinitely. "Evaluating is not an easy task, because it involves complex regulations.

RI cultural troupe heads for Moscow

RI cultural troupe heads for Moscow JAKARTA (JP): A group of young Indonesian artists will shake Moscow public with their stunning performance of traditional and modern music, dances and other cultural shows from Aug. 22 to 25. Wanda Tumanduk, chairman of the organizing committee, told the press yesterday that the cultural mission comprising of 54 artists is aimed at introducing Indonesian heritage to the Russian public, the youngsters in particular.

FAO's Jacques Diouf will visit Indonesia

FAO's Jacques Diouf will visit Indonesia JAKARTA (JP): Director General of the United Nations Food and Agriculture Organization (FAO) Jacques Diouf is due to arrive here on Saturday for a four-day visit at the invitation of Minister of Agriculture Sjarifudin Baharsjah.

Vietnam observer at GATT

Vietnam observer at GATT GENEVA (AFP): The world trade body GATT has awarded Vietnam observer status, the Geneva-based organization said. Vietnam's ambassador to international organizations in Geneva, Nguyen Luong, said his country wanted to become a full member of GATT, or the successor World Trade Organization, when it is set up next year. He said that thanks to economic reforms under way in Vietnam since 1989, external trade has grown 20 percent per year and foreign investment has mushroomed.

RI welcomes Vietnam in ASEAN: Alatas

RI welcomes Vietnam in ASEAN: Alatas By Pandaya BANGKOK (JP): Indonesia has thrown its weight behind proposals that socialist Vietnam be granted membership in the Association of Southeast Asian Nations (ASEAN). "There is no problem if Vietnam joins ASEAN," said Indonesian Minister of Foreign Affairs Ali Alatas. Alatas flew to the Thai capital to attend the 27th ASEAN Foreign Ministerial Meeting, scheduled to be opened by Thailand's Prime Minister Chuan Leekpai today.

RP seeks China, HK on drug triads

RP seeks China, HK on drug triads MANILA (AFP): The Philippines is coordinating with police authorities in China and Hong Kong to curb drug trafficking here involving Chinese triads, Vice President Joseph Estrada said yesterday. Estrada, who heads the Presidential Anti-Crime Commission (PACC), told a press forum that the PACC was shifting the bulk of its operations after having lessened the incidence of ransom kidnappings, which mostly targeted wealthy ethnic Chinese.

Storm wrecks school in Bekasi

Storm wrecks school in Bekasi BEKASI (JP): Students of an elementary school in Bekasi, on the eastern outskirts of the city, are now studying in the teacher's room because their classrooms were heavily damaged by a storm on Monday. The school principal, Aji Rajiman, said that there was no other alternative but conduct classes in the teacher's room, otherwise the students would have to be given an extended vacation.

Irregular bus fare

Irregular bus fare From Bisnis Indonesia I am a regular commuter on the Pulogadung-Kalideres bus route of Patas No. 64 in Jakarta. I am often annoyed at the irregular ticket fares imposed on passengers. One bus will charge Rp 550 and another one Rp 600 for the same route and distance. The unfixed price often puts me in an embarrassing situation. When I give Rp 1,000 and the bus conductor gives change of Rp 400, I ask whether the ticket price is Rp 600.

Price of tea at supermarkets

Price of tea at supermarkets From Merdeka Last week I was surprised to see traditional herbal tea, teh jamu, for body slimming on a shelf at Metro supermarket in Melawai Plaza in Blok M priced at Rp 9,300. As far as I know the price of this tea is only Rp 7,500. If it does increase it should not be that high. Then I went to Matahari shopping center located in the same area to compare the price of the tea. I saw the price of the same product was relatively much cheaper -- only Rp 7,250.

Five Yogya painters represent two generations of regional art

Five Yogya painters represent two generations of regional art By Amir Sidharta JAKARTA (JP): An exhibition of five painters representing two generations of Yogyakarta artists will open this evening at Edwin's Gallery in Kemang, South Jakarta. The daily life of the common folk is predominant in the works of the modest artists which will be displayed to July 31.

Army captain faces 18 months in prison

Army captain faces 18 months in prison JAKARTA (JP): Military prosecutors are demanding that an Army captain be imprisoned for 18 months for failing to report a plot to kill a labor activist last year. Captain Kusaeri, formerly chief of Porong Military Command, is being tried in the military tribunal in Surabaya in connection with the murder of Marsinah, a worker at a watchmaking company, PT Citra Putra Surya, in Sidoarjo near Surabaya, in May last year. Col.

`KWK' to double its suburban fleet

`KWK' to double its suburban fleet The Wahana Kalpika Cooperative (KWK), which manages the 12- seat suburban transportation KWK fleet, plans to operate an additional 1,400 small vans in an effort to curb the operation of unauthorized vans in the suburbs. Laode Djeni, the KWK's chairman, told reporters at the City Hall yesterday that the cooperative has submitted the proposal to the governor's office. "We are now waiting for the governor's approval," Laode said.

APEC may set course for trade liberalization

APEC may set course for trade liberalization CANBERRA (AFP): Leaders of the 18 Asia Pacific Economic Cooperation (APEC) countries are likely, but not certain, to set a course for regional trade liberalization at their November conference, Australian Foreign Minister Gareth Evans said yesterday. But details of any agreement, including suggested moves to turn the forum into a trading bloc -- preferential or otherwise -- would take years to evolve and mattered little at the moment, he said.

City Hall bans office guide book

City Hall bans office guide book The city administration has banned a book entitled Jakarta Office Building Guide 1994," which is published by a private firm, on the grounds that the book is misleading. "The book was not published with the permission of my office, as the publisher claimed, so it cannot be used as an official guide book," said Soesila Darmoadji, a spokesman for City Hall.

Maman gets nine years in prison

Maman gets nine years in prison JAKARTA (JP): The South Jakarta District Court yesterday sentenced Maman Suparman, formerly deputy manager of Bapindo's Jakarta branch, to nine years imprisonment for his role in allowing businessman Eddy Tansil to swindle the government-owned bank out of $448 million. Across town in the Central Jakarta District Court, the trial of Tansil saw the government prosecutors pushing for life imprisonment for the owner of the Golden Key Group.

New Zealand aid focuses on social projects

New Zealand aid focuses on social projects JAKARTA (JP): The New Zealand government is helping finance a number of projects in Indonesia designed to promote the welfare of the poor and disadvantaged groups. This is done by channeling funds from some of the New Zealand Official Development Assistance (ODA) to grassroots organizations that help and organize street children, marginalized farmers, migrant women and environmental protection.

Image of Betawi

Image of Betawi I'd like to respond to what Mr. Zainal Abidin cited about Betawi -- in your article entitled Ms and Mr Jakarta, a stepping stone to popularity -- as a bunch of backward people who could only afford to live in the city's outskirts (The Jakarta Post, July 16, 1994). As one who has lived and stayed with them and tried to understand their stance and culture, I fail to understand Mr. Zainal Abidin's concern for the lack of Betawi people entering the contest.

Foreign fellowship

Foreign fellowship From Kompas I am a teacher of the Junior Technology Vocational School and one of the candidates for the Foreign Fellowship Program of the Project for Enhancement of the Junior Vocational Education, Ministry of Education and Culture. Since completing the three-month English training session in Jakarta last year, I have not received any information about the implementation of the program. I hope the authority concerned will inform me about the project and related matters.

Tampubolon killers may face 15 to 18 years imprisonment

Tampubolon killers may face 15 to 18 years imprisonment JAKARTA (JP): Prosecutors in the murder trial of the four men charged with killing Brig. Gen. TMF Tampubolon urged the East Jakarta District Court yesterday to sentence them to between 15 and 18 years imprisonment each.

A Letter from Australia: Greater understanding is needed

A Letter from Australia: Greater understanding is needed -- Ros Kelly has been a Labor Member of Parliament for Canberra, Australia's national capital, since 1980. She was Minister for Defense Support from 1987 to 1989 and Minister for the Environment from 1990 to 1994. Dear friend, the most remarkable aspect of the relationship between Indonesia and Australia is not that at long last we have begun to trade with each other, visit each other and talk to each other.

Spanish state seeks closer trade with RI

Spanish state seeks closer trade with RI JAKARTA (JP): A delegation from the Spanish state of Basque is jumping on the bandwagon with other European states in seeking closer business ties with Indonesia. Vice President Jon Imanol Azua Mendia, who made a three-day visit to Indonesia starting Wednesday, said he wanted to promote his country to various officials and business people and explore wide areas of cooperation.

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 12:30 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.

Where to go in Bali:

Where to go in Bali: Music and entertainment * Nusa Dua Beach Hotel: Budaya Stage - Legong Buffet Dinner, Friday; Ramayana Buffet Dinner, Monday. Coffee Shop - Indonesian Night with Joged Dance, Saturday. Village Night with Frog Dance, Tuesday. Notte Italiana with Capo Dastro Quartet, Thursday. Poolside - BBQ Night with Hawaiian Band, Wednesday. * Sheraton Lagoon Nusa Dua Beach: Poolside Terrace - Janger Cultural Performance, Friday. Pasar Ikan Seafood Market, Saturday.

Long distance call

Long distance call From Media Indonesia On July 6, 1994 I made a long distance call to Bogor, West Java, from a telecommunication service at Pasar Minggu, South Jakarta. I was very surprised when the bill was Rp 4,125 for only a 50-second call. I usually pay Rp 500 at the most at other telecommunication services. One evening I also made a call to Bogor which lasted almost three minutes, for which I was charged only Rp 1,100. Why the difference of almost 800 percent?

Romance knows no age limit

Romance knows no age limit JEMBER, East Java: Romance blossoms at an old people's home in the city, which has married five couples since 1989. Hartoyo, chief of the Social Services office, said the administrators simply cannot separate residents of the home who have fallen in love. They behave like teenagers, he said. "They will cry if separated." Hartoyo explained that 95 old people live in the house which is actually designed to accommodate 90 occupants.

Mayor asked to review IDs repeal

Mayor asked to review IDs repeal Governor Surjadi Soedirdja has asked West Jakarta Mayor Sutardjianto to reconsider his plans to revoke identity cards for seasonal residents (Kipem). "The governor asked the mayor to carefully weigh the advantages and disadvantages of the revocation," City Hall spokesman Soesila Darmoadji said.

Chess quiz

Chess quiz I was on holiday in Indonesia recently and I enjoyed reading your newspaper very much. I am a keen chess player and was particularly pleased to see the daily Chess Quiz by Shelby Lyman. He is an internationally recognized chess journalist and I found the quizzes very interesting. Keep up the good work. Gary Bekker Melbourne, Australia

Fears cause rise in cement prices: Tunky

Fears cause rise in cement prices: Tunky JAKARTA (JP): Distributors are taking advantage of market fears of a possible cement shortage and are raising prices in Java, particularly in the greater Jakarta area, Minister of Industry Tunky Ariwibowo said yesterday. "Fearing a possible supply shortage, users have been hoarding cement to secure their future needs for constructing houses, highrise buildings and industrial plants," he told reporters.