Indonesian Political, Business & Finance News

Archive: 3 April 1996

50 articles found

Davis Cupper Eddy opts out of playoff against China

Davis Cupper Eddy opts out of playoff against China JAKARTA (JP): Indonesia's Davis Cupper Eddy Kusdaryanto says he's opting out of the crucial playoff against China this weekend after being diagnosed as having hepatitis. "If I had to choose, I'd prefer taking a break because I don't want to risk my career in tennis," Eddy said yesterday.

Where to go in Jakarta:

Where to go in Jakarta: Music * Hotel Dai-ichi, Jl. Senen Raya 135, Central Jakarta. - Mezzanine Lounge: Solo Pianist, daily from 5 p.m. to 8 p.m., opening hours Monday to Sunday 9 a.m. to 1 p.m. * Hotel Aryaduta, Jl. Prapatan 44-48, Central Jakarta: - Ambiente Italian Restaurant: Los Morenitos Vocal Group, Monday, Thursday, Sunday from 7:15 p.m. to 11 p.m.; Los Paraguas Vocal Group, Tuesday, Wednesday, Friday, Saturday from 7:15 p.m. to 11 p.m.

Indonesia backs Indian Ocean forum

Indonesia backs Indian Ocean forum JAKARTA (JP): Indonesia will take an active role in the Indian Ocean Rim Initiative forum, Minister of Foreign Affairs Ali Alatas said yesterday. "President Soeharto has conveyed Indonesia's commitment to make it a success and hopes that the country can contribute its constructive ideas to the forum," Alatas said at Merdeka Palace.

Developers exploit green space

Developers exploit green space JAKARTA (JP): Developers are still converting the city's remaining green areas for their projects, Governor Surjadi Soedirdja said yesterday. "Green areas must not be converted to office and shopping space," Surjadi said. "Without strict control these areas will eventually be wiped out." Ideally, of the city's 65,000 hectares of land, 30 percent, or 19,500 hectares, should be designated for green areas.

Election committees should hold talks: Amien

Election committees should hold talks: Amien YOGYAKARTA (JP): A respected political scientist calls on the two election monitoring committees, one official and the other independent, to sit together and hold dialog. Amien Rais, a lecturer at the Gadjah Mada University's School of Social and Political Sciences, told the press here yesterday that each of the two bodies could benefit from the other.

Malaysian tried on murder charge

Malaysian tried on murder charge JAKARTA (JP): Witnesses to the murder of an Indonesian woman gave conflicting accounts to a district court here yesterday. One of the witnesses said that the suspect, a Malaysian citizen identified as GS, had made repulsive comments throughout the night prior to the murder, while the other witness denied hearing the comments.

Mahathir defends policy on 'Asiaweek'

Mahathir defends policy on 'Asiaweek' KUALA LUMPUR (AFP): Malaysian Prime Minister Mahathir Mohamad yesterday defended his government's decision to cancel its subscription to the Hong Kong-based magazine Asiaweek, saying the publication was "not informative." "What we buy, of course, is our right," Mahathir said, commenting on a home ministry order to all state agencies to stop subscribing to Asiaweek after the magazine printed critical articles on the country's leadership.

Glucose venture set up

Glucose venture set up JAKARTA (JP): The publicly-listed PT Budi Acid Jaya announced yesterday that it has received approval from the Investment Coordinating Board to set up a US$18 million glucose and high fructose plant. The new plant, to be called PT Associated British Budi, is a joint venture between Budi Acid and British Sugar Overseas Ltd., a subsidiary of the publicly-listed Associated British Foods.

Cawang-Bekasi toll road project goes to Investa Kusuma

Cawang-Bekasi toll road project goes to Investa Kusuma JAKARTA (JP): The Ministry of Public Works confirmed yesterday that it has appointed PT Investa Kusuma Artha as the developer of the 19.5-kilometer Cawang-Bekasi elevated toll road without a tendering process.

Motorola ties up with Indonesian beeper firm

Motorola ties up with Indonesian beeper firm JAKARTA (JP): The United States-based telecommunications and electronics giant Motorola reached a deal yesterday with PT Duta Pertiwi Santosa, a private firm operating the Starpage beeper service, to set up a joint radio paging venture. The two companies signed the agreement to establish PT Dutasejahtera Komunikatama with an investment of US$10 million and plans to take over the beeper service operated by Duta Pertiwi Santosa.

U.S. funds to seek Asian stocks, says J.P. Morgan

U.S. funds to seek Asian stocks, says J.P. Morgan BANGKOK (Reuter): The much-awaited movement of U.S. funds to Asian bourses, as Wall Street's gains approach saturation point, may take place from the second half of 1996, a senior J.P. Morgan & Co Inc official said yesterday.

Corporations in dire need of professionals

Corporations in dire need of professionals JAKARTA (JP): Indonesia's largest companies are in such dire need of managers and other professionals that they often just take them from other corporations, an executive said. Chief Executive of the Bakrie Group Tanri Abeng said after meeting with President Soeharto yesterday that the increasing need for professionals is due to rapid corporate growth.

Easter AIDS fund-raiser

Easter AIDS fund-raiser JAKARTA: A Bali-based non-governmental organization, in cooperation with a Mexican restaurant, will hold an Easter AIDS fund-raising dinner on Saturday. Yayasan Citra Usadha Indonesia hopes to raise Rp 20 million (US$8,888) to continue its funding of volunteer activities to help prevent the spread of HIV/AIDS in the country, especially in Bali. The buffet dinner, priced at Rp 50,000 ($22.20), will take place at the Poco Loco Mexican Restaurant in Nusa Dua.

Police arrest two drug dealers

Police arrest two drug dealers JAKARTA (JP): The city narcotics squad arrested two suspected drug dealers on Sunday. Fifty-four Ecstasy pills and a few grams of dried marijuana were also seized. The City police spokesman Lt. Col. Iman Haryatna said yesterday the men were arrested in a rented house in the Poris Mas residential complex on Jl. Hayam Wuruk, West Jakarta. The first suspect, identified as Perdana Halim, 28, is a resident of Semarang, Central Java.

Two men make off with Rp 130m

Two men make off with Rp 130m JAKARTA (JP): A man stabbed a university student and stole his bag with Rp 130 million (US$56,400) in front of a money changer on Jl. Irian, Central Jakarta yesterday afternoon. After stabbing Mario HF, 22, with a sickle, the unidentified man snatched the bag and escaped with an accomplice, who was waiting nearby on a motorcycle, a reliable police source told The Jakarta Post last night. The newly-appointed Central Jakarta police chief, Lt. Col.

Child labor issue draws WB concern

Child labor issue draws WB concern JAKARTA (JP): The poor condition of Indonesian child and women laborers is drawing concern from the World Bank's local representative office. Nisha Agrawal, an expert from the bank's Jakarta office, said that despite some progress, exploitative child labor and poor working conditions, especially for women, are two of the many problems that require government intervention.

Haj pilgrims complain of extortion

Haj pilgrims complain of extortion JAKARTA (JP): Only days after the government and the Saudi Arabian embassy solved the problem of late visas for pilgrims which caused some delayed and canceled flights, another hiccup in the haj operation occurred. A number of pilgrims are complaining that they have to resort to bribery in order to facilitate their trip to the Kaaba in Mecca.

Ruling on new joint timber estates revised

Ruling on new joint timber estates revised JAKARTA (JP): The establishment of joint-venture timber estates must now comply with the 1995 Law on Limited Liability Companies which states that half of the nominal value of each share subscribed must be paid up at the time of establishment.

Salvaging and recovering wet library collections

Salvaging and recovering wet library collections By Rosa Widyawan JAKARTA (JP): Most disasters in a library involve water, either from the water used to extinguish a fire or from flooding. When rain drenched Jakarta in January, the resulting floods destroyed more than 7,000 volumes of research reports, 250 journals and 250 bound books owned by the Center of Scientific Documentation and Information of the Indonesian Institute of Sciences (LIPI).

Textile firms halt operation

Textile firms halt operation PEKALONGAN, Central Java, (JP): At least five textile companies here have shut down operations indefinitely and more are likely to follow suit. Chairman of the Pekalongan Textile Association Mahlul Akbar told The Jakarta Post on Monday that the closure of the five textile firms was the result of tougher competition among local textile firms. The five firms are Asatex, Sugih Mitra Tenun, Jelita, Faristex and Panasitex.

Veteran returns to political fray

Veteran returns to political fray BANGKOK (AFP): Veteran politician Chamlong Srimuang, a leader of the pro-democracy movement in May 1992, is to run for election as governor of Bangkok in June, a party official said yesterday. After keeping the public guessing for weeks, Palang Dharma party leader Thaksin Shinawatra, a deputy prime minister, announced that the party would nominate Chamlong, 60, under the PDP banner.

Comexindo initiates use of cargo vessel

Comexindo initiates use of cargo vessel JAKARTA (JP): PT Comexindo Maritim, a subsidiary of PT Prima Comexindo owned by businessman Hashim Djojohadikusumo, yesterday started running a 22,000 dead weight ton (DWT) bulk cargo vessel as a feeder for its fleet anchoring away of ports. Comexindo Maritime's chief operating officer, M.

Floods hit Jakarta again, killing one

Floods hit Jakarta again, killing one JAKARTA (JP): At least one man has been killed since Monday evening, when torrential rains and floods hit several parts of the city. Police sources said that the victim was identified as Jerry Juwani, a 17-year-old resident of the Perdagangan Housing Complex in Bintaro, South Jakarta. Jerry, believed to suffer from epilepsy, drowned while playing at a stream near his house at about 4:15 p.m., the sources said.

Lippo Securities profit

Lippo Securities profit JAKARTA (JP): PT Lippo Securities, the first securities company listed on the Jakarta Stock Exchange (JSX), expects to book Rp 32.2 billion (US$13.7 million) in pretax profits this year. The company's president, Charles de Queljoe, told an analysts meeting yesterday that the projected income will represent an increase of 86 percent over 1995's result of only Rp 17.3 billion.

Observer criticizes current sports sponsorship system

Observer criticizes current sports sponsorship system JAKARTA (JP): Forced sponsorship, unprofessionalism, hastiness, red tape and lack of entrepreneurship are the Indonesian ways of organizing sports events, claims a former marketing consultant. According to Kafi Kurnia, former general manager of footwear giant Nike Jakarta, claimed he spoke from experience yesterday.

Press activists appeal rejected

Press activists appeal rejected JAKARTA (JP): The Supreme Court has rejected the appeals of four press freedom activists convicted of insulting and sowing hatred against the government. It upheld the sentences handed down last year by the lower court for Ahmad Taufik, Eko Maryadi, Danang Kukuh Wardoyo and Tri Agus S. Siswomihardjo.

Indonesian medical association calls for a law on foreign doctors

Indonesian medical association calls for a law on foreign doctors JAKARTA (JP): The Indonesian Medical Association has called for regulations on foreign doctors working in the country after trade liberalization comes into effect in a few years. The association's chairman, Azrul Azwar, said that once this liberalization happens, there is no way Indonesia can stop the influx of foreign workers, including medical doctors.

Riedel headed for Bob Hasan meet

Riedel headed for Bob Hasan meet JAKARTA (JP): World discus champion Lars Riedel of Germany confirmed yesterday that he will participate in the second Bob Hasan Track and Field Invitational Meet here on May 4. Riedel's confirmation was faxed by his coach Helmut Ebert to the Indonesian Track and Field Association (PASI) yesterday, the association's spokeswoman Nia Sarinastiti Regar told The Jakarta Post yesterday.

Loan set for Sinar Angkasa

Loan set for Sinar Angkasa HONG KONG (Reuter): A US$33 million loan facility for PT Sinar Angkasa Rungkut is in syndication, said arranger HSBC Investment Bank Singapore. The borrower is manufacturer of fluorescent tubes and bulbs in Indonesia. The facility is divided into two tranches. The US$29 million term loan facility, Tranche A, has a maturity of five years and pays a margin of 200 basis points over the Singapore Interbank Offered Rate.

Hostages' future still uncertain

Hostages' future still uncertain JAYAPURA, Irian Jaya: The military acknowledged yesterday that the future of talks on the release of 11 people held hostage by separatist rebels since Jan. 8 is uncertain. Lt. Col. Maulud Hidayat, the spokesman for the Trikora military command that oversees security in Irian and Maluku, said he has no idea when the drama will end. The hostages, including six Europeans, have been held captive by Free Papua Movement rebels in Mapnduma village since January.

Modernizing Indonesia's mineral resources industry

Modernizing Indonesia's mineral resources industry The following article is based on a paper presented by the Director General of Mines and Energy, Kuntoro Mangkusubroto, at the 64th annual convention of the Prospectors and Developers Association of Canada, in Toronto, March 11-13, 1996. TORONTO: The successful development of the Indonesian mineral sector has been largely the result of foreign investment.

Marcopper Mining operations halted after waste leak

Marcopper Mining operations halted after waste leak MANILA (AFP): The Philippine government has halted the operations of a mining firm, whose waste ore leaked into a river, including its operations in other areas, it was announced here yesterday. Environment and Natural Resources Secretary Victor Ramos also said that Marcopper Mining Corp. could face the threat of closure and that its officials have been barred from leaving the country.

Beattie fit for Sentul challenge

Beattie fit for Sentul challenge JAKARTA (JP): This Sunday's Indonesian Grand Prix motor cycling world championship in Sentul, West Java, will offer a more furious 500cc race with the return of Darryl Beattie. The Australian world champion contender has confirmed that he is in good health and ready for this weekend's race, the second leg of the world championship series, after crashing out of an official practice for the season's opening race in Shah Alam, Malaysia, on Saturday.

Two die of food poisoning

Two die of food poisoning BANYUMAS, Central Java: Two people died and 18 others were hospitalized for diarrhea after they ate food at a party at the home of Darsono, a resident of Klahang village, Sokaraja district, last week. The head of the local health office, Dr. Mambo Diyanto, told The Jakarta Post that around 100 people suffered from diarrhea after eating 'jenang', a local delicacy made of glutinous rice and sugar.

Quake jolts Sumba island

Quake jolts Sumba island KUPANG, East Nusa Tenggara: An earthquake measuring 6.12 on the Richter scale hit the island of Sumba yesterday, Antara quoted the Meteorology and Geophysics Agency as saying. The news agency said the quake struck at around noon local time and was centered at 9.77 degrees south longitude and 120.04 degrees east latitude, some 1,520 kilometers (940 miles) southeast of Jakarta. Aftershocks hit later in the day.

Yogyakarta out to defend title

Yogyakarta out to defend title JAKARTA (JP): Southeast Asian Games gold medalists will lead defending champion Yogyakarta in the national track cycling championships at the Rawamangun Velodrome, East Jakarta, from April 19 to April 21. Nurhayati and her sister Nuraini and Alvi Dwiningrum will make up Yogyakarta's women's team, while Ronny Yahya, M. Basri, Dadang Haris Purnomo, Sulistiono and Pedro del Rochman form the men's squad.

Indorayon issues US$150 Eurobonds in Luxembourg

Indorayon issues US$150 Eurobonds in Luxembourg JAKARTA (JP): PT Inti Indorayon Utama, a pulp and rayon fiber producer listed on the Jakarta Stock Exchange (JSX), confirmed yesterday that it has issued US$150 million in Eurobonds on the Luxembourg Stock Exchange. In a report to the JSX, the company stated that total proceeds from its first Eurobonds, which will be redeemed in 2001 with a coupon rate of 10 percent per annum, will be used to refinance its debts.

Chinese warning

Chinese warning On March 18, 1996, The Jakarta Post printed a report headlined U.S. Navy told to avoid Taiwan Straits. Within this report, which was mainly quoting Chinese Premier Li Peng, the premier is quoted as saying many things about the current situation, one of which was warning the U.S. to stop its naval actions. That may be fair enough but he also said, "the Chinese government will in no way accept the practice of one country imposing its views on another".

See lunar eclipse tomorrow

See lunar eclipse tomorrow JAKARTA (JP): An astronomer has invited people in Java, Sumatra, West Kalimantan and Central Kalimantan to watch a full lunar eclipse at dawn tomorrow. Moedji Raharto, a senior researcher at the Bandung-based Bosscha Observatorium, said the rare moment will last for three hours and 38 minutes. The natural phenomenon will start at 5:21 a.m. and finish at 8:59 a.m. The full eclipse will occur from 6:27 a.m.

Ciliwung river polluted by pesticides, study shows

Ciliwung river polluted by pesticides, study shows JAKARTA (JP): A study by the city's environmental office reveals that the Ciliwung river water has been severely contaminated by pesticides, which have killed thousands of fish in the river. The study released yesterday revealed that a chemical named aldrin was found in the gills, the guts and flesh of the dead sapu-sapu fish. The sapu-sapu fish is able to live in the dirtiest waters.

New port management

New port management The government has finally succeeded in significantly improving the efficiency of Jakarta's Tanjung Priok port through the realignment of the port's management. As Minister of Transportation Haryanto Dhanutirto reported to President Soeharto on Monday, the port's daily operations are now managed solely by the state-owned PT Pelabuhan Indonesia II port managing company.

Stock Exchange

Stock Exchange Stock prices on the Jakarta Stock Exchange (in rupiah) on April 2, 1996: Shares Close Change Trading Volume ---------------------------------------------------------- Ades Alfindo 925 0 6,000 AHAP Insurance 2,800 0 0 Alumindo Perkasa 1,150 0 0 Andayani Megah 1,750 50 1,121,500 Aneka Kimia Raya 3,600 0 49,500 Anwar Sierad 2,150 25 451,500 Aqua Golden Mississippi 2,300 0 0 Argha Karya Prima Industry 2,900 0 106,000 Argo Pantes 2,525 0 8,500 Asahimas Flat 3,125 50 668,500 Asiana IMI...

Symposium on radio phones

Symposium on radio phones JAKARTA (JP): A symposium to be held here tomorrow will discuss the government's plan to review licenses for telecommunications through the radio trunking system in order to increase the number of users. The Directorate General of Post and Telecommunications director of telecommunications, Eman S. Sumantri, said yesterday that this issue and other aspects of the radio trunking system and business would be discussed in the symposium.

Socializing the roads

Socializing the roads It may not be as dramatic as the bus smash that killed so many on the Jagorawi, but the new road outside our banjar (part of the village) in Bali is claiming the same number of lives. The road that runs from Batubulan to Payangan has just been widened, all the better to ferry people to hotels and houses owned by well- connected people. Today, two brothers carving stone statues on the side of the road to support their family, were killed by a hit-and-run vehicle.

Aneka Tambang plans to make stainless steel

Aneka Tambang plans to make stainless steel JAKARTA (JP): PT Aneka Tambang, the state-owned company operating a nickel mine in Pomalaa, Southeast Sulawesi, plans to produce stainless steel, expecting it to become one of its core- businesses by the year 2000. The head of Aneka Tambang's Pomalaa unit, Bachruddin, announced in Kendari yesterday that world demand for stainless steel has increased due to the high cost of using other kinds of steel, which is corrosive in nature.

Safety procedures often ignored

Safety procedures often ignored JAKARTA (JP): High rise building developers tend to ignore safety requirement after they get their permits, an official says. The head of the city development supervision agency, Hartanto, said yesterday that the developers tend to change the design and the structure illegally for financial gain. Change in the design usually also means change in safety features, and that was very dangerous, he said.

Ramayana manager may be suspect in Bogor fire

Ramayana manager may be suspect in Bogor fire BOGOR, West Java (JP): The regional manager of Ramayana Department Store here, who is being questioned together with 38 other people, may be the responsible party in last Thursday's fire at the Kebon Kembang market, police say. "He can be charged as a suspect," Bogor regional police chief Col. Dadang Garnida, told reporters here yesterday.

Govt urged to help free 6,000 workers detained in KL

Govt urged to help free 6,000 workers detained in KL JAKARTA (JP): Eleven non-governmental organizations (NGOs) urged yesterday the government and the National Committee for Human Rights to help release 6,000 Indonesian workers confined in Malaysian detention centers. The NGOs asked the government to openly inform the public about the condition of Indonesian workers, especially those who are detained in various detention camps in Malaysia which are said to be in poor condition. Hamsuk S.

Spotlight

Spotlight Photo A: CIS JP/afs THE FUTURE OF CIS: Director of the Armenian Center for National and International Studies and former Minister of Foreign Affairs, Raffi K. Hovannisian (left), speaks at a seminar on the future of the Commonwealth of Independent States. The seminar, organized by Centre for Strategic and International Studies last week in Jakarta, also featured Jusuf Wanandi, chairman of the supervisory board of CSIS (right).

TV today

TV today TVRI 2:30 p.m. Travel: My Country 2:35 TV Series: Amazing 3:05 Sports: Arena 123 3:30 TV Series: Roseanne 4:05 TV Drama: Mandiri 4:30 Documentary: Lembah Batang Hari 5:00 Evening News 5:30 Indonesian Lessons: Imbuhan dan Peristilahan 6:00 News: Lintasan Berita 6:05 Nusantara, the Beloved Country: West Sumatra 6:15 Village Program 6:45 Documentary: Farming and Ecology 7:00 Evening News 7:25 Garuda Pancasila/Filler/Trailer 7:30 Music: Asia Bagus 8:00 News: Lintasan Berita 8:05 Drama...