Indonesian Political, Business & Finance News

Archive: 18 January 1996

52 articles found

Stock Exchange

Stock Exchange Stock prices on the Jakarta Stock Exchange (in rupiah) on Jan. 17, 1996: Shares Close Change Trading Volume ----------------------------------------------------------- Ades Alfindo 700 0 0 AHAP Insurance 3,200 0 0 Alumindo Perkasa 1,375 0 0 Andayani Megah 1,700 25 108,500 Aneka Kimia Raya 6,200 100 56,000 Anwar Sierad 1,150 0 104,000 Aqua Golden Mississippi 1,500 0 0 Argha Karya Prima Industry 2,075 -25 258,500 Argo Pantes 2,100 0 0 Asahimas Flat 2,750 75 3,596,5000 Asiana IMI...

Money is the panacea for sports complaints

Money is the panacea for sports complaints JAKARTA (JP): Money, it seems, is now believed by the Indonesian sports authorities to be the elixir and tonic for the many ailments befalling the country's sports. This has been made much of in particular since the unexpected, painful loss of Indonesia's long-standing Southeast Asian Games dominance to Thailand at the 18th SEA Games in Chiang Mai, Thailand, last month.

Ginandjar leads team to elect chairman of swimming body

Ginandjar leads team to elect chairman of swimming body JAKARTA (JP): The Indonesian Swimming Federation elected Ginanjar Kartasasmita at its national congress yesterday to chair the committee to consider names for the election of the next chairman of the federation. Ginanjar, a former chairman of the federation, was appointed unanimously..

Mahathir, Ramos surf the 'Internet'

Mahathir, Ramos surf the 'Internet' KUALA LUMPUR (AFP): Malaysian Prime Minister Mahathir Mohamad and Philippine President Fidel Ramos surfed the Internet together yesterday, while Palestine leader Yasser Arafat was beached by a technical fault. The dialog, touted by its Malaysian organizers as the first event of its kind, saw Mahathir and Ramos chatting on the Internet for about 20 minutes, to mark the launch of the online version of Malaysia's Malay daily, the Utusan Malaysia.

Short circuit sparks fire

Short circuit sparks fire JAKARTA (JP): The fire which ravaged the main building of the National Police Headquarters on Monday evening was caused by a short circuit, a police officer said. National police spokesman Brig. Gen. IK Ratta told reporters yesterday that the short circuit, as identified by forensic experts, occurred at an administration office of the Operation Control Center division on the top floor of the three-story building. The blaze, said Ratta, inflicted a material loss of Rp 8.

No limitation of foreign ownership in mutual funds

No limitation of foreign ownership in mutual funds JAKARTA (JP): The government issued a decree yesterday allowing foreign investors to buy 100 percent of mutual fund shares listed on the local stock exchange. The chairman of the Capital Market Supervisory Agency (Bapepam), I Putu Gede Ary Suta, said that the change is stipulated in one of the finance minister's capital market decrees issued yesterday.

Foundation helps flood victims

Foundation helps flood victims JAKARTA (JP): The vice chairwoman of the Dana Gotong Royong foundation, Mrs. Umar Wirahadikusuma has donated sarongs and money to the victims of the recent floods in East and South Jakarta, on behalf of the foundation. South Jakarta got Rp 35 million in cash and 5,000 sarongs on Tuesday, and Rp 28 million and 4,000 sarongs were given to East Jakarta. Mrs. Umar said that the foundation's chairwoman Mrs.

Education for working life

Education for working life I read with interest Mr. Mochtar Buchori's opinion about superschools and education. He raises a valid point in Misperceptions hinder changes in education (The Jakarta Post, Jan. 11, 1996). Young people are led to believe that the only useful learning comes from attending college, listening to professors talk from a platform and reproducing required information on occasions called examinations.

City Hall urged to issue warnings on demolition

City Hall urged to issue warnings on demolition JAKARTA (JP): The City Council wants the local administration to announce clear public plans on the future demolition of illegally constructed houses, especially those built by squatters. The secretary of the council's Commission A, Abdoelhamid Notowidagdo, said that with such plans the executives could do everything systematically. Commission A is in charge of, among other things, administrative affairs.

Daihatsu to raise exports

Daihatsu to raise exports TOKYO (Reuter): Daihatsu Motor Co. Ltd. forecast that exports of kit parts will reach 263,000 sets in calendar 1996, up 3.9 percent from a year earlier, mainly due to higher demand in Indonesia and Malaysia, an executive said.

Djarum signs $75m loan

Djarum signs $75m loan HONG KONG (Reuter): Clove cigarette maker PT Djarum's US$75 million syndicated loan issue has closed, arranger American Express Bank Singapore said yesterday. The five-year loan pays a margin of 112.5 basis points over the London Interbank Offered Rate. There is a put option in the third year. With fees, the all-in return to top tier managers is 135 basis points.

Indonesia to host Camel Trophy again

Indonesia to host Camel Trophy again JAKARTA (JP): The 17th Camel Trophy adventure expedition will be held in Kalimantan, Indonesia's largest island, and the world's third largest island, from April. 1 to April. 22. The expedition will start in Balikpapan, the capital city of East Kalimantan, and wind up in Pontianak, West Kalimantan's capital city, crossing a distance of around 1,850 kilometers and passing through about 50 logging concessions.

Prevention better than cure

Prevention better than cure Heart warming though it is to see local Jakartans uniting to gather goods and money for distribution to those affected by the recent floods, two questions must be asked in regard to this situation. Firstly, why was such devastation wrought during only a relatively mild monsoon? And secondly, what is being done by those in power to prevent the recurrence of such a catastrophe?

Design school set up

Design school set up JAKARTA (JP): The Indotex Foundation of the Indonesian Textile Association signed yesterday a memorandum of understanding with LaSalle College Group of Canada on the establishment of a garment fashion design college here. "The garment fashion design college, set up with an investment of US$750,000, is expected to start operation in July," Hariyadi B. Sukamdani, chairman of the Jakarta branch of the association, told reporters after signing the agreement.

Military, rebels in standoff over Irian hostages

Military, rebels in standoff over Irian hostages JAKARTA (JP): Irian Jaya separatist rebels and the military appeared to be facing off yesterday on the question of the 14 people still being held captive by the rebels, with no progress reported from their talks. "There has been no new development today," a military spokesman in Jayapura, capital of Irian Jaya, told The Jakarta Post by phone last night. Armed Forces chief spokesman Brig. Gen.

Though weak, OPM still a time bomb, officials say

Though weak, OPM still a time bomb, officials say JAKARTA (JP): The Free Papua Movement (OPM) may be weak and divided, but it could still be a time bomb for Irian Jaya, local officials said. Irian Jaya governor Jacob Pattipi said the OPM is divided into one camp which is led by Kelly Kwalik, who abducted members of the Lorentz '95 expedition of the World Wildlife Fund, and the other by Mathias Wenda.

Delivery of last warships this year

Delivery of last warships this year JAKARTA (JP): Indonesia hopes to take delivery of the last four of the 39 warships it ordered from Germany within the year, a Navy spokesman said. Col. Totok M.K. Laksito said on Tuesday that the four remaining corvettes are still being renovated in Neustadts, Germany. Two should be delivered in August and the other two in October, he said. Chief of Armed Forces' General Affairs Lt. Gen.

RI, KL banks tie up

RI, KL banks tie up JAKARTA (JP): Bank of Commerce (M) Berhad of Malaysia and PT Bank Danamon of Indonesia have signed a memorandum of understanding in Kuala Lumpur to establish an arrangement for cross-border remittance of funds between the two countries.

Gold coins a new investment alternative

Gold coins a new investment alternative JAKARTA (JP): Another investment alternative became available to ordinary investors yesterday with the launching of a new range of gold coins by Gold Corporation of Australia at the Mercantile Athletic Club of Indonesia.

Government states donation rules

Government states donation rules JAKARTA (JP): Minister of Finance Mar'ie Muhammad has issued a ruling on the mechanism for raising funds from individuals and companies willing to donate to the state-sponsored poverty eradication program. The minister's Decree No. 17/1996, dated Jan. 15, was issued to implement Presidential Decree No.

Prosecutor seeks severe punishment for students

Prosecutor seeks severe punishment for students JAKARTA (JP): The public prosecutor urged the South Jakarta District Court yesterday to sentence six students to nine years imprisonment each for assaulting another student, causing his death. The six students are identified as Abdur Rohman, Nandan Mulyadi alias Penjor, Jodhy Kresnapati, Muhammad Faad, Hendi Hendarsyah and Heriansyah alias Yayang. All of the defendants are between 16 and 18 years old, as was their victim, Syaefudin.

83 regulations issued to support Capital Mart Law

83 regulations issued to support Capital Mart Law JAKARTA (JP): The Capital Market Supervisory Agency (Bapepam) issued 83 regulations here yesterday to support the implementation of the newly introduced Capital Market Law. The issuance of the regulations marked the full implementation of the Capital Market Law, which was approved by the House of Representatives (DPR) late last year.

New police chief in S. Kalimantan

New police chief in S. Kalimantan BANJARMASIN, South Kalimantan: Col. Sanimbar was sworn in yesterday as the new provincial police chief, replacing Col. Memet Sanusi. Local police spokesman Lt. Col. Suryo Sudewo said Memet, who commanded the local police for a year, will retire after devoting 33 years of his life to the service. Sanimbar, 53, graduated from the Police Academy in 1968, and was previously Memet's deputy, Antara reported. (pan)

Bandung artist afraid to die

Bandung artist afraid to die BANDUNG: An artist hanged himself in public yesterday -- not to commit suicide but to entertain the public and dramatize his protest against an unpopular policy of the local government. The scene was part of the more than 100 local artists' protest of the city administration's plan to turn a cultural center building into a tourism office. Antara reported that the artists tied up a colleague and hanged him on a tree on Jl.

Little progress at East Timor talks

Little progress at East Timor talks LONDON (Agencies): Indonesia and Portugal made little progress in negotiations in London on Tuesday over how to solve the status of East Timor but described their talks as constructive and agreed to meet again. The talks on the former Portuguese colony are the seventh in a series that stretches back to 1983.

Govt urged to pursue greater investment equity

Govt urged to pursue greater investment equity JAKARTA (JP): Economists want the government to adopt integrated economic rulings, dismantle barriers of entry in all business sectors and give more autonomy to local administrations to create greater equity.

Overcoming democratic deficits

Overcoming democratic deficits By Juwono Sudarsono This is the second of two articles on developing countries coming to terms with the democratic wave sweeping the globe after the Cold War. JAKARTA (JP): Local and national governments in North America and Western Europe in the 19th and early 20th centuries proceeded without interference by the intrusive glare of today's modern mass media, such as satellite television.

NU dissenters hold extraordinary congress

NU dissenters hold extraordinary congress JAKARTA (JP): Dissenters of the Nahdlatul Ulama (NU) Moslem organization, taking advantage of the authorities' ambiguous stance over their existence, held an extraordinary congress yesterday to establish a rival executive board. Abu Hasan, who lost the chairmanship election to incumbent Abdurrahman Wahid at the Moslem group's congress in Dec. 1994, opened the congress despite lacking police permits.

APEC upbeat on trade deadline

APEC upbeat on trade deadline SINGAPORE (Reuter): A senior Asia-Pacific Economic Cooperation (APEC) official said yesterday the group would meet its 1997 deadline for beginning the move to free trade among its 18 members, even though much remained to be done. APEC executive director Armando Madamba said a summit of the group's leaders to be held in the Philippines in November was likely to endorse a plan on how to implement the free trade pact. "I don't see really any kind of discontinuity.

Japan-British PC firm to enter RI market

Japan-British PC firm to enter RI market JAKARTA (JP): Fujitsu ICL Trading Asia Pte. Ltd. (FITA), a Singapore-based distributor of Fujitsu ICL personal computers, has committed to entering the Indonesian market in a new joint venture, managing director Alex Leung said. "FITA will be forming a joint venture company with PT Askomindo Dinamika to establish a plant to manufacture Fujitsu ICL personal computers (PC) in Indonesia," he said.

Police arrest drug trafficker

Police arrest drug trafficker BANDUNG: Police have arrested a 30-year-old man suspected of being a major dealer of the designer drug Ecstasy in the city. The suspect, whose identity was not disclosed, was caught selling the pills in a car repair shop, spokesman for the provincial police command Lt. Col. Istanto J. said yesterday. Police hope the arrest will lead to information on the drug syndicate operating in Bandung and surrounding areas.

Ardy cancels Japan tour

Ardy cancels Japan tour TOKYO (AFP): An injury to a right foot ligament forced three- time champion Ardy Wiranata to withdraw from the US$150,000 Japan Open badminton tournament without hitting a shuttle yesterday. It was a major setback for the Indonesian, the winner here in 1991, 1992 and 1994, who desperately needs more computer points to qualify for the Atlanta Olympic Games.

Why we need an international curriculum model

Why we need an international curriculum model By John Phillips This is the first of two articles about an international curriculum model. YOGYAKARTA (JP): Most international schools are international in name only since they often mirror an existing school system from one of several "home" countries such as the United States. Everything in these schools reflects the culture of that country -- everything, that is, except the students.

Fire victims must vacate Penjaringan site: Mayor

Fire victims must vacate Penjaringan site: Mayor JAKARTA (JP): Thousands of squatters, whose houses in Penjaringan were burned down last Friday, have to quit the area as it is needed for the Pluit reservoir expansion project. North Jakarta Mayor Suprawito said on Wednesday that, based on the original site plan, the fire-ravaged area is part of the Pluit reservoir complex. The reservoir is being dredged prior to the expansion program.

Kenny Rogers Roasters in town

Kenny Rogers Roasters in town JAKARTA (JP): Here comes a new chicken selection under the famous country music singer Kenny Rogers. Unlike the ubiquitous fried chicken restaurants in town, the Kenny Rogers Roasters grills its fowl. "Grilling is a healthier way of preparing them. It reduces fat, sodium and calories significantly," Sugiantoro Gozali, president of PT Kiranarasa Nusa, said at a press conference yesterday. Kiranarasa Nusa, owned by PT Gunung Sewu Kencana, runs the restaurant.

Mt. Merapi active again

Mt. Merapi active again SEMARANG: Officials in Yogyakarta monitoring Mt. Merapi recorded 19 tremors on Jan. 16, an indication that the 2,968 meter high volcano is highly active. Head of the Mt. Merapi monitoring post, Mas Atje Purbawinata, said in Yogyakarta that he has put his staff on alert for a possible worsening development. The last major eruption of the volcano, known as one of the most active in the world, killed almost 70 people and displaced several thousand families in 1993.

Where to go in Jakarta:

Where to go in Jakarta: Music * Radisson Jakarta: Jl. Pecenongan 72, Central Jakarta. Club Spats featuring Live Entertainment, nightly, from 8 p.m. to 2 a.m. Happy hour from 8 p.m. to 10 p.m., nightly. Wall street Lobby Lounge featuring a three piece acoustic band Monday to Saturday, from 6:30 p.m. to 9:30 p.m. * Hotel Arya Duta, Jl. Prapatan 44-48,Central Jakarta: - Ambiente Italian Restaurant: Bonauli vocal group, Monday and Wednesday from 7 p.m.

Singaporean found dead

Singaporean found dead JAKARTA (JP): A Singaporean man was found with his head crushed in the parking lot of the Radisson hotel on Jl. Pacenongan, Central Jakarta, on Tuesday afternoon. People have speculated that the foreigner, identified as Yo Aek Leong Leonard, 35, had killed himself by jumping from the ninth floor of the hotel. Police said yesterday that they had yet to determine whether the victim had committed suicide or was murdered.

Legal Aid Institute files lawsuit against Islamic school

Legal Aid Institute files lawsuit against Islamic school JAKARTA (JP): The Jakarta branch of the Legal Aid Institute (LBH) has filed a lawsuit against the Syifa Budi Perguruan Islam Al Azhar Kemang Foundation for firing 23 teachers of the school in 1994. The foundation unlawfully dismissed the teachers who had been teaching there for seven years, LBH said in a written statement made available to The Jakarta Post on Tuesday.

Restriction on unrated hotels

Restriction on unrated hotels MATARAM, West Nusa Tenggara: West Lombok regent Lalu Mudjitahid said recently that the Senggigi beach resort is closed to the development of "non-star" rated hotels. He said the authorities are allocating 300 hectares for tourism, and non-rated hotels have already exceeded their limit. He argued that the number of non-rated hotels should be limited otherwise it will ruin the environment.

Fair play and NU

Fair play and NU Curious is probably the most appropriate way to describe the "grand congress" of the "Coordinating Board for the Executive Board of Nahdatul Ulama" (KPPNU) -- the rival leadership board within Nahdatul Ulama (NU) -- which opened yesterday at the Haj Dormitory in Pondok Gede, East Jakarta. To freshen our memories: The KPPNU, led by affluent businessman Abu Hasan, was established in January last year after the 1994 NU congress in Cipasung, West Java.

Hotels asked not to raise rates during air show

Hotels asked not to raise rates during air show JAKARTA (JP): The government has called on star-rated hotels in the city not to raise their room rates during the Indonesian Air Show '96, which will be held on June 22 to June 30 this year. Director of accommodation of the Directorate General of Tourism, Acep Hidayat, said yesterday that the image of the country's tourism will be hampered if hotels raise their room rates during the international event.

Aquino downplays martial law threat

Aquino downplays martial law threat MANILA (Reuter): Former president Corazon Aquino played down yesterday fears that martial law could return to the Philippines, saying Filipinos would fight it. "It will be extremely difficult, almost impossible, to institute martial law in this country," Aquino said in an interview. Manila newspapers and some politicians have expressed alarm at an anti-terrorism bill pending in Congress, seeing it as a precursor of a return to martial law.

RI, Canada sign deals worth $2b

RI, Canada sign deals worth $2b JAKARTA (JP): Canadian Prime Minister Jean Chretien witnessed here yesterday the signing of 54 new business deals between Indonesian and Canadian businesspeople worth C$2.76 billion (US$2.02 billion). "This is a solid base to build on, and Team Canada has taken on that building job in earnest -- with the deals signed today," said the Canadian prime minister at a luncheon meeting hosted by the Indonesia-Canada Chamber of Commerce before the mass signing.

Warming may hit RP, RI rice output

Warming may hit RP, RI rice output MANILA (Reuter): Rice production in Indonesia and the Philippines is threatened by global warming, scientists told a climate conference yesterday. They said a rise in global temperature could be caused by burning fossil fuels. Such a rise might affect the production of rice, the staple of the 270 million people in Indonesia and the Philippines. "Rice self-sufficiency is threatened by (the) changing climate," Istiqlal Amien, P. Rejekiningrum, A. Pramudia and E.

Police still in dark over HongkongBank scam

Police still in dark over HongkongBank scam JAKARTA (JP): The city police are still in the dark over the negligence of the staff of HongkongBank's branch office here in checking the fake money transfer orders which have caused losses of about Rp 79 billion (US$34.35 million). "Moreover, the overseas banks which sent the orders have only a small amount of money at HongkongBank here, compared to the huge amount that was to be transferred to a third party," Lt. Col.

Cornucopia of calendars marks new year

Cornucopia of calendars marks new year By Amir Sidharta JAKARTA (JP): We are reminded of the new year by the various calendars that appear in the mail, included as give-aways when you make a purchase in shops, or are offered for sale in bookstores. Last year many publishers adopted the use of compact disc holders for monthly calendars. The first of this kind seems to have appeared a few years ago, featuring Annie Leibovitz's striking photographs.

Students offer weak defense for Bintang

Students offer weak defense for Bintang JAKARTA (JP): Two Indonesian students flown from Germany to testify for Sri Bintang Pamungkas failed to clear the controversial politician from the accusations of slandering President Soeharto in their court testimony yesterday.

Canada to help RI promote human rights

Canada to help RI promote human rights JAKARTA (JP): Canadian Prime Minister Jean Chretien defended his policy of close ties with Indonesia yesterday, arguing that cooperation, not confrontation, would help improve the human rights situation here. He insisted that downgrading relations, political and economic, would obstruct attempts to correct Indonesia's human rights problems. "It is participation, to be there, to raise the issue, to help them to cope with the problem.

Wardiman defends 'initiation week'

Wardiman defends 'initiation week' JAKARTA (JP): Minister of Education and Culture Wardiman Djojonegoro refused yesterday to abolish the "initiation week" at state universities, after one student died while undergoing one of the introductions to campus life this month. Wardiman described the death as an "accident" and said it should not be used to abolish a system which, he said, was still the best way of introducing first year students to the realities of college life.

City gets modern fire engine

City gets modern fire engine JP/byi JAKARTA (JP): Minister of Manpower Abdul Latief handed over a new automatic fire engine to the city administration yesterday in connection with the promotion of health and occupational safety in the work place, known locally as the K3 program. Governor Surjadi Soedirdja officially received the new fire truck in a ceremony at the City Hall.

Police credibility at stake

Police credibility at stake When fire drills are held, police officers are generally among the instructors invited to explain how fires can be prevented. If a fire breaks out, they caution, don't panic. Put it out in a systematic manner to prevent it from spreading and causing greater damage. When the national police headquarters was razed by fire earlier this week, a number of important spaces were destroyed, including the Control and Operations Command Center.