Indonesian Political, Business & Finance News

Archive: 23 May 1996

48 articles found

RI's business structure changes

RI's business structure changes By Christianto Wibisono JAKARTA (JP): There have been tremendous changes in the Indonesian economic and business topography this decade. The role and position of the government and state-owned enterprises have gradually been reduced. The government has evolved into a regulating and facilitating agency instead of operator and executor.

Astra's revenues rise but its profits decline

Astra's revenues rise but its profits decline JAKARTA (JP): PT Astra International reported a 13.7 percent increase in its first quarter net revenues to Rp 3.2 trillion (US$1.5 billion) but suffered a decline of around 20 percent in its net profit to Rp 73 billion.

Forestry ministry rejects WB plan as unrealistic

Forestry ministry rejects WB plan as unrealistic JAKARTA (JP): Minister of Forestry Djamaludin Suryohadikusumo said yesterday the government could not meet a World Bank proposal on the increase of mandatory forest royalties because its implementation would hurt the domestic market. Djamaludin said that any increase in the royalties would force timber prices to go up.

Talent scouts head for junior tournament

Talent scouts head for junior tournament JAKARTA (JP): The Thamrin Cup Junior Tennis Championships this year will reinstate the 18-year-old age group to scout talent for important tournaments, an organizer said. "The age of 18 is the right time to develop junior players. The more competitions are held, the more juniors will have chances to develop their skills," said Mangombar Ferdinand Siregar of the Jakarta tennis association, the organizer of the annual tournament.

Guruh paints dance movements and politics

Guruh paints dance movements and politics By Amir Sidharta JAKARTA (JP): Guruh Soekarnoputra, son of the late President Sukarno, is known as a choreographer and composer. However, a small exhibition which opened last week at his residence revealed that his artistic talent extends beyond the performing arts. The dozen or so paintings that are exhibited also evidence his latent talent for painting.

RI should restructure state firms: Economist

RI should restructure state firms: Economist JAKARTA (JP): Economist Christianto Wibisono suggested yesterday that Indonesia need to restructure, rationalize and revitalize state firms and government bureaucracy to improve the country's competitiveness. He said that restructuring state firms should be orientated towards markets and efficiency, not the vested interests of few people.

Toll hike may depend on public opinion

Toll hike may depend on public opinion JAKARTA (JP): Minister of Public Works Radinal Moochtar ensured that the government will take into account recommendations and opinions before deciding whether to increase the city's toll road fees. One suggestion which will be seriously considered is that users of public transport may not be subjected to the increase, he said.

Stock Exchange

Stock Exchange Stock prices on the Jakarta Stock Exchange (in rupiah) on May 22, 1996 Shares Close Change Trading Volume ----------------------------------------------------------- Ades Alfindo 950 100 11,000 AHAP Insurance 2,800 0 0 Alumindo Perkasa 625 0 232,000 Andayani Megah 1,400 -25 324,000 Aneka Kimia Raya 4,425 0 0 Anwar Sierad 2,350 0 63,000 Aqua Golden Mississippi 2,300 0 0 Argha Karya Prima Industry 3,250 0 86,500 Argo Pantes 2,100 -200 500 Asahimas Flat 2,825 -75 488,000 Asiana IMI...

IMF executive calls for independent central bank

IMF executive calls for independent central bank JAKARTA (JP): A top executive of the International Monetary Fund (IMF) expressed optimism yesterday about Indonesia's macroeconomy and called for greater independence for the central bank in order to maintain macroeconomic stability.

Dharmala to pay dividends

Dharmala to pay dividends JAKARTA (JP): The publicly-listed property company Dharmala Intiland will pay total dividends of Rp 28.07 billion (US$12.17 million) for the 1995 financial year, or Rp 115 (five U.S. cents) per share. The company announced yesterday that the dividends, which will be paid to shareholders beginning July 19, account for 48 percent of the company's net profits in 1995.

Compensation dispute

Compensation dispute JAKARTA (JP): The plan for low-cost apartment plans in the Jatinegara district, East Jakarta, has come to a halt over the question of land compensation. Mayor Sudarsono said on Tuesday that slum residents in the Cipinang Besar Muara district are still insisting on between Rp 1.5 million (US$ 638.57) to Rp 3.5 million per square meter. The private developer, PT Vecorindo Tunggal Perkasa, is offering a paltry Rp 750,000 per square meter.

RI not to raise fuel price

RI not to raise fuel price JAKARTA (JP): President Faisal Abda'oe, president of the state-owned oil company Pertamina, said yesterday that there has been no recent indication that the government will increase fuel prices. Speaking to reporters in Cilacap after the ground-breaking ceremony for the debottlenecking project at the Cilacap refinery, he said that the situation in Indonesia requires the government to consider non-economic factors before deciding to increase fuel prices.

NISP aims for 25% credit expansion

NISP aims for 25% credit expansion JAKARTA (JP): Publicly-listed Bank NISP announced yesterday that it will expand its credit distribution by 25 percent this year, supported by an increase of 30 percent in funds generated from public savings and offshore loans.

Where to go in Jakarta:

Where to go in Jakarta: Music * Hotel Dai-ichi, Jl. Senen Raya 135, Central Jakarta. - Mezzanine Lounge: The Praise Vocal Group, nightly except Sundays, from 8 p.m. to 11 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.

Jakarta wins 'reog' contest

Jakarta wins 'reog' contest JAKARTA (JP): The capital's 'Reog Ponorogo' troupe won the 1996 national Reog Ponorogo contest recently held in Ponorogo, East Java. Reog is a folk dance based on the history of a king in East Java before the great Majapahit Kingdom of the 13th century. The dance, depicting the fight between a tiger and the chief minister of a king in Kediri, is popular with people in East Java, especially the residents of Ponorogo, some 200 kilometers southwest of Surabaya.

TV today

TV today TVRI 2:30 p.m. Travel: My Country 2:35 TV Series: Family Matter 3:00 News: Lintasan Berita 3:05 Dance 3:30 Travel: Border Out Show 4:00 News: Lintasan Berita 4:05 Science Film 4:30 Education: Dunia Mahasiswa 5:00 Evening News 5:30 Arabic Lessons 6:00 News: Lintasan Berita 6:05 Nusantara, the Beloved Country: East Sulawesi 6:15 Village Program 6:25 Koran Recital 6:35 Religious Teachings: Islam 7:00 Evening News 7:25 Garuda Pancasila/Filler/Teller 7:35 Hobbies 8:00 News: Lintasan Berita...

Australian tourist found dead

Australian tourist found dead DENPASAR, Bali: An Australian tourist was found dead, reportedly of a hashish overdose, in his room at Bali Oberoy Hotel here on Tuesday. Nyoman Antana, a hotel employee, told The Jakarta Post he became suspicious when the guest had not left his room by noon. When his knocking brought no response, he decided to force his way into the room. A source at the Kuta police precinct said James Christopher Bannet might have overdosed on hashish.

Radio frequency abuse rampant in Indonesia

Radio frequency abuse rampant in Indonesia JAKARTA (JP): The use of radio frequencies is so undisciplined here that there is a strong impression among foreign users that the situation is in a mess, the city branch's leader of a radio communication organization said. Dharma Nasution, who chairs the Association of Indonesian Radio Communications Users' city branch, said yesterday that to wipe out this unfavorable image, the association aims to discipline the use of radio frequencies.

Economic reforms favor small group: Expert

Economic reforms favor small group: Expert JAKARTA (JP): A large proportion of the government's economic reforms and regulations benefit only the few people who will gain most in the long run from the upcoming free market, an academician says. Faisal H.

Govt told to raise financial commitment to small firms

Govt told to raise financial commitment to small firms JAKARTA (JP): The government should increase its financial commitment to small businesses to help accelerate their expansion, a noted economist said. "The funds provided by the government for the development of small businesses are nominal," Djisman S.

Dankos profits rise 4%

Dankos profits rise 4% JAKARTA (JP): Publicly-listed pharmaceutical producer PT Dankos Laboratories reported a 4 percent increase in net profits to Rp 19 billion (US8.1 million) for last year, from Rp 18 billion in 1994. Dankos President Apik Ibrahim said that the flat profit growth was due mainly to a significant price increase in chemical products as basic materials, while the increase in selling prices of Dankos' products was limited.

Monetary policy may affect banks' earnings: Soedradjad

Monetary policy may affect banks' earnings: Soedradjad JAKARTA (JP): Bank Indonesia Governor J. Soedradjad Djiwandono acknowledged here yesterday that the government's prudent monetary policy could result in declines of commercial banks' earning growths. "That is probably correct. In the banking industry, there are also ups and downs," he said in response to analysts' estimates on possible drops in the growth of banks' profits this year.

'Don't incorporate sex education into school curriculum'

'Don't incorporate sex education into school curriculum' JAKARTA (JP): Noted psychologist Yaumil Agoes Achir spoke out against a colleague's recent suggestion that sex education be incorporated into the school curriculum. Antara quoted the professor and former dean of the University of Indonesia's School of Psychology as saying in Pekanbaru, Riau, yesterday that it would be sufficient if sex education was taught at home.

N. Jakarta plot dispute nets Navy

N. Jakarta plot dispute nets Navy JAKARTA (JP): Disputing parties of a tract of land in North Jakarta affirmed their positions before a court yesterday. Representatives from the government told the Jakarta State Administrative Court that the 20.5-hectares of disputed land are part of 180 hectares of land owned by the Navy, which it appropriated from illegal squatters in 1992.

Voter registration officers miss 11,000 in Surabaya

Voter registration officers miss 11,000 in Surabaya SURABAYA, East Java (JP): Some 11,000 students in local Islamic schools eligible to vote in the 1997 general election have been left unregistered. Syumli Sadli, chairman of the Moslem-based United Development Party's East Java chapter, which has large supporters in the Islamic boarding schools, reproached the provincial registration officers for failing to register the students.

Ministerial kudos for Soeharto

Ministerial kudos for Soeharto JAKARTA (JP): President Soeharto's promise not to influence the People's Consultative Assembly in electing a new head of state in 1998 won praise from two cabinet ministers yesterday. Minister of Defense and Security Gen. (ret.) Edi Sudradjat and Minister of Information Harmoko said yesterday that Soeharto's statement reflected his characteristic as a "democrat".

UK's diplomatic offensive over beef ban launched

UK's diplomatic offensive over beef ban launched LONDON (Reuter): Britain launched a diplomatic offensive yesterday to explain to its perplexed European partners London's new get-tough strategy aimed at getting a crippling ban on British beef exports lifted. Senior officials said ministers would fan out to European capitals in the days and weeks ahead to spell out why Prime Minister John Major felt the need on Tuesday to threaten to paralyze European Union business unless the beef ban was ended.

China's Zhu Rongji visits Malaysia

China's Zhu Rongji visits Malaysia KUALA LUMPUR (Reuter): China's vice-premier Zhu Rongji arrived yesterday for a five-day official visit to boost diplomatic ties between his country and Malaysia, the national Bernama news agency reported. Zhu is scheduled to attend a state dinner hosted by Malaysian Deputy Prime Minister Anwar Ibrahim and hold talks with Prime Minister Mahathir Mohamad later in the week, officials said.

Jambi to tryout in U.S. for PON

Jambi to tryout in U.S. for PON JAKARTA (JP): Jambi's swimming team plans to train in the U.S. in preparation for the 14th National Games here this September, training director Raja Nasution said yesterday. Raja said he had named five gold medal hopefuls for the American stint, scheduled from June 10 to Aug. 12 in Ontario, California. The team of Elsa Manora Nasution, Kevin Nasution, Maya Masita Nasution, M.

Jakarta anniversary

Jakarta anniversary From Merdeka The anniversary of Jakarta is around the corner again. I would like to suggest that we showcase some Jakarta specialities; the national monument and ondel-ondel (giant puppets) perfectly symbolize Jakarta. Also Betawi and Javanese arts like the Yapong dance, or Keroncong music will enliven the anniversary celebration. BUDI WARSITO Jakarta

U.S. will urge Indonesia to enter auto trade talks

U.S. will urge Indonesia to enter auto trade talks WASHINGTON (Kyodo): The United States will soon urge Indonesia to enter auto trade talks, focusing on American concerns over its program to develop its own cars, a top U.S. industry official said.

Co-ops may manage private clove agency

Co-ops may manage private clove agency JAKARTA (JP): Cooperatives will be allowed to take over the management of the Clove Marketing and Buffer Stock Agency (BPPC) when the clove supply and demand reach an equilibrium, says a minister. Minister of Cooperatives and Small Enterprises Soebiyakto Tjakrawedaya said here yesterday that the stocks of clove are at present still too high.

Control fauna trade: Surjadi

Control fauna trade: Surjadi JAKARTA (JP): Governor Surjadi Soedirdja wants control of the breeding and trade of indigenous animals improved. Surjadi added that flora must receive similar treatment. He made the observations when opening a working meeting on forestry yesterday. "In this way, the illegal trade of flora and fauna, especially rare species, may be curbed," he was quoted as saying by Antara.

Chirac's envoy meets Soeharto for G-7 inputs

Chirac's envoy meets Soeharto for G-7 inputs JAKARTA (JP): A special envoy of French President Jaques Chirac, Bruno Durieux, yesterday met with President Soeharto here to seek inputs for the upcoming Group of Seven (G-7) meeting in Lion, France, next month. Minister/State Secretary Moerdiono told journalists that Durieux, during his meeting with Soeharto, presented Chirac's view that the upcoming G-7 meeting should provide a clear direction for the current globalization process.

Lost students rescued

Lost students rescued MEDAN, North Sumatra: Workers rescued on Monday two students who got lost while climbing Mt. Sibayak, Antara reported yesterday. Antara quoted an officer at the Tanah Karo police precinct as saying Rapuli Beru Siregar, 17, and Ronald Agustinus Tarigan, 15, had injuries on their heads, legs and arms after they fell into a 100-deep crevice. The students, who were found unconscious, are currently being treated at Brastagi village health center.

Retired ABRI members to be searched for guns

Retired ABRI members to be searched for guns JAKARTA (JP): Jakarta Military Command will crackdown on the possession of guns among retired Armed Forces members, following an armed robbery last week at a supermarket on Jl. Kali Malang in East Jakarta. Commander Maj. Gen. Sutiyoso said during a ceremony inaugurating a military discipline campaign on Jl. Lapangan Banteng in Central Jakarta yesterday that he is sure there are many retired servicemen who still have their guns.

Govt donates to families of dead labor activists

Govt donates to families of dead labor activists JAKARTA (JP): The government offered to donate Rp 1 million (US$425) yesterday to the relatives of 14 dead labor activists, including relatives of labor heroine Marsinah. Director general for Industrial Relations and Labor Standards Suwarto, who handed over the donation to the relatives, said the reward symbolized the government's recognition of the activists' noble cause.

RI stops experimenting for Uber Cup semifinal

RI stops experimenting for Uber Cup semifinal By Arif Suryobuwono HONG KONG (JP): Points can be expected to come from left and right in today's Uber Cup semifinal war here between Indonesia and South Korea. The same might also be said in the case of the other semifinal pitting China and Denmark, now that world badminton powers have gained more or less equal footing in the sport.

Improve education, orders President

Improve education, orders President JAKARTA (JP): President Soeharto warned yesterday Indonesia's all-out effort to catch up with industrialized countries will flop unless the country develops quality education. The President said that although Indonesia has made remarkable progress in education over the past three decades, the sector is yet to pass the stumbling blocks.

'No more forest concessionaires'

'No more forest concessionaires' KENDARI, Southeast Sulawesi: Governor La Ode Kaimuddin said yesterday the province is closed to new logging concessionaires because its forests need time to recover. "Forest concessionaires may boost economic development, but in our province they have caused substantial ecological and financial damage," he was quoted by Antara as saying.

Capitalism blamed for undermining Soeharto

Capitalism blamed for undermining Soeharto YOGYAKARTA (JP): Indonesia's expanding capitalist society is undermining the New Order government under President Soeharto, who vigorously promotes the free market as a tool for development, a sociologist said yesterday.

Banks sign on to collect region's phone bill

Banks sign on to collect region's phone bill BEKASI, West Java (JP): The East Jakarta office of PT Telekomunikasi Indonesia (Telkom) signed agreements yesterday with 7 banks to cooperate in collecting telephone bills from subscribers. The banks have been appointed official payment collection agents for telephone bills from Telkom's subscribers served by the office. The office serves East Jakarta, Bekasi in West Java, Tebet in South Jakarta, and Kelapa Gading, North Jakarta.

Best if officers become civvies, Juwono says

Best if officers become civvies, Juwono says JAKARTA (JP): A scholar has suggested that middle-ranking military officers should consider switching track to civilian careers rather than pursuing the limited top positions available in the Armed Forces (ABRI). "There can only be one ABRI commander or one army chief of staff at a time," Juwono Sudarsono, deputy governor of the military think-tank the National Resilience Institute (Lemhannas), said yesterday.

Crime never pays

Crime never pays Arief Budiman's article Why should bad guys always win? on May 20, 1996 is at best disappointing, especially from the pen of a sociologist and researcher. Arief Budiman has not given adequate weight to the political will to combat the "rent seeking system".

Distribution of wealth

Distribution of wealth I was pleased to see a well-written historical analysis of Indonesian politics on your editorial page recently (The Jakarta Post, May 13, 1996: Toward turmoil free change). Most of the author's points, such as the need for fair, representative elections rather than the usual succession of officials, were valid ones. I disagree, however, that the burgeoning middle class will foment demand for more sovereignty and risk political or economic turmoil.

Golkar cadres asked to win 1997 election

Golkar cadres asked to win 1997 election JAKARTA (JP): President Soeharto, in his capacity as chairman of Golkar's board of patrons, called on the group's cadres to ensure victory in the 1997 general election. In a written speech delivered by board member Saleh Afiff to a national Golkar meeting yesterday, Soeharto told Golkar members to continue educating the public about the group's contribution to national development in order to convince people to vote for Golkar.

RI team to rely on third singles

RI team to rely on third singles JAKARTA (JP): A local sport expert expects Indonesia's semifinal Uber Cup championship clash against South Korea to be a tough battle for both countries. "Whoever wins, the score will be 3-2," Mangombar Ferdinand Siregar predicted yesterday. Siregar expects Indonesia will field top singles players Susi Susanti, Mia Audina and Yuliani Sentosa. The doubles will be Eliza/Zelin Resiana and Lili Tampi/Finarsih.

Sanctions needed against dirty buses

Sanctions needed against dirty buses From Merdeka In line with the national discipline program, sanctions must taken against operators of dirty buses, particularly the limited air conditioned buses. Bus drivers caught with dirty vehicles must be fined and a notice must be sent to their company. I think the problem of dirty buses is due to the negligence of the company to get its bus crews to keep their vehicles clean. Bus cleanliness is essential to ensure passengers' convenience. L.