Indonesian Political, Business & Finance News

Archive: 14 June 1996

62 articles found

Bank Indonesia keeping quiet on blocked account

Bank Indonesia keeping quiet on blocked account JAKARTA (JP): Bank Indonesia Governor J. Soedradjad Djiwandono has yet to comment on the freezing of an account containing Rp 1 billion (US$45 million) by Standard Chartered Bank.

Home minister to open PDI breakaways' congress

Home minister to open PDI breakaways' congress JAKARTA (JP): With full government backing, Indonesian Democratic Party (PDI) dissenters will hold a congress in Medan from June 20 through 24.PDI breakaway members said yesterday that Minister of Home Affairs Moch. Yogie S.M.

Bimantara secures $45 million loan

Bimantara secures $45 million loan JAKARTA (JP): PT Bimantara Citra, a publicly-listed conglomerate controlled by President Soeharto's second son Bambang Trihatmodjo, yesterday signed a three-year international syndicated loan of US$45 million.

PT Kedawung Setia to offer 50m shares

PT Kedawung Setia to offer 50m shares SURABAYA, East Java (JP): PT Kedawung Setia Industrial, a private firm producing enamelware, is offering 50 million new shares to the public with a nominal price of Rp 500 (21 U.S. cents) each.

Lampung probes Rp 6 billion scam

Lampung probes Rp 6 billion scam BANDAR LAMPUNG, Lampung: The government is investigating the alleged misappropriation of Rp 6 billion (US$2.5 million) intended to create 4,000 hectares of farm land.Chief of the provincial inspectorate Umar Hasan was quoted by Antara as saying that seven officials...

Argo Pantes reports 20% increase in exports

Argo Pantes reports 20% increase in exports JAKARTA (JP): PT Argo Pantes, a publicly-listed integrated textile manufacturer, said that its exports rose 20 percent to Rp 294 billion (US$124 million) last year over 1994.

PSN to raise $67m from share listing on Nasdaq

PSN to raise $67m from share listing on Nasdaq JAKARTA (JP): PT Pasifik Satelit Nusantara (PSN), the country's first private satellite and telecommunications operator, expects to raise US$67 million from floating 10.95 million shares on the Nasdaq Capital Market in the United States.

LIPI researcher drowns off Hoga

LIPI researcher drowns off Hoga KENDARI, Southeast Sulawesi: A senior researcher drowned while studying the sea off Hoga Island, police said yesterday.Ichsan Amir, from the Jakarta-based Indonesian Institute of Sciences (LIPI), died while diving on Tuesday.

RI inconsistent on settlement rights: NGO

RI inconsistent on settlement rights: NGO JAKARTA (JP): A group representing evicted residents, street workers and bemo owners said that the government should act according to the statement it presented to the world conference on human settlements in Istanbul, Turkey.

'RI should buy or steal Japan's technology'

'RI should buy or steal Japan's technology' DEPOK, West Java (JP): Indonesia should either buy or steal technology from Japan rather than wait for it to be transferred willingly, an expert advised.Executive director of the University of Indonesia Center of Japanese Studies Hero U.

Air Show affects 56 flight schedules at Soekarno-Hatta

Air Show affects 56 flight schedules at Soekarno-Hatta JAKARTA (JP): The administrator of the city's Soekarno-Hatta airport has rescheduled the timetable of 56 domestic and international air carriers serving the airport during the Indonesia Air Show 1996 from June 22 to June 30.

Supreme Court under fire over 'Tempo' verdict

Supreme Court under fire over 'Tempo' verdict JAKARTA (JP): Observers suspect that "political games" were behind the Supreme Court's decision to overturn yesterday a decision by the High Court allowing Indonesia's oldest magazine, Tempo, to resume publication after being banned by the government in...

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,...

Soeharto, Goh to open Bintan tourist resort

Soeharto, Goh to open Bintan tourist resort JAKARTA (JP): President Soeharto and Singaporean Prime Minister Goh Chok Tong will officially inaugurate the 23,000- hectare Bintan Beach International Resort in the northern part of Bintan, an island in Riau province, on June 18.

JSX's share prices drop 2.4%

JSX's share prices drop 2.4% JAKARTA (JP): Share prices on the Jakarta Stock Exchange (JSX) dropped by 2.4 percent yesterday.Foreign selling pressure was cited, although dealers gave different reasons for the sharp drop.

Trakindo mandates loan

Trakindo mandates loan HONG KONG (Reuter): PT Trakindo Utama has mandated Chase Manhattan Asia to arrange a US$50 million revolving credit, bankers said.The borrower controls a large share of Indonesia's heavy equipment market.

Sumitomo to boost output

Sumitomo to boost output TOKYO (AFP): Japan's Sumitomo Metal Industries Ltd. said yesterday it would boost aluminum output in Japan and Indonesia on the back of firm demand for home electronics components and construction materials in Asia.

Televised soccer

Televised soccerFrom Pikiran RakyatIt is indeed disappointing if TVRI Bandung is not being allowed to broadcast soccer matches held in Siliwangi stadium, where Persib (a local Bandung club) often plays.

New timber smuggling method found

New timber smuggling method found JAKARTA (JP): An operation team set up to curb forest crimes uncovered a new method of wood smuggling during a raid at Jakarta's Tanjung Priok harbor.The head of Jakarta's provincial forestry office, Purwadi Mangunwardoyo, said yesterday the team foiled an attempt...

Where to go in Bali:

Where to go in Bali:Music and Entertainments * Grand Hyatt Bali, Nusa Dua: Pasar Senggol - Balinese Arts & Crafts, daily. Sunset Procession, daily. Ramayana Dance, Thursday. Legong Dance, Saturday. Arjuna Wiwaha Dance, Sunday. Rejang, Puspawresti, Belibis and Jaran Teji dances, Monday.

Three killed in Garuda plane crash

Three killed in Garuda plane crash FUKUOKA, Japan (Agencies): A Garuda Indonesia DC-10 jet sat engulfed in flames following a failed takeoff yesterday, with three confirmed dead and scores injured.Survivors, some with their hair singed, had escaped from the blazing passenger cabin after the...

Aviation experts puzzled by RI airline accident

Aviation experts puzzled by RI airline accident TOKYO (Reuter): Aviation experts said yesterday they were puzzled by the crash-landing of a DC-10 airliner only seconds after takeoff.According to survivors who escaped from the blazing Indonesian Garuda plane, the craft lifted off a few meters into...

'Comfort woman' to visit Japan

'Comfort woman' to visit Japan YOGYAKARTA: A former Japanese army comfort woman will attend an Asia-Pacific meeting of former comfort women in Japan next month.Mardiyem, alias Momoye, 65, will represent thousands of Indonesian women who were forced to become Japanese troops' sex slaves in World War...

'Up Close and Personal': Flirting with news and love

'Up Close and Personal': Flirting with news and loveBy Primastuti Handayani JAKARTA (JP): Up Close and Personal is a newsroom movie in which the characters care more about the smooch than the scoop.Missing the suspense of All The President's Men and the convincing arguments in The Paper, director...

FCC's deal with RI firms

FCC's deal with RI firms SINGAPORE (Reuter): First Capital Corp Ltd (FCC) said yesterday it had signed a memorandum of understanding (MOU) in Jakarta with three Indonesian firms to buy a 40 percent stake in Indonesian company P.T. Wiranusa Grahatama (WG).

Japan to fulfill commitment to CGI

Japan to fulfill commitment to CGI JAKARTA (JP): A Japanese special envoy confirmed here yesterday that his country would be fulfilling its commitment to the Consultative Group on Indonesia (CGI) this year.

Prokasih appreciated

Prokasih appreciated JAKARTA (JP): Jakarta's clean river program, Prokasih, has received the award for best clean river program in Indonesia for a seventh consecutive year.Governor Surjadi Soedirdja said yesterday that the prize reflects the results of hard work and public participation.

Feisal Tanjung gets new title

Feisal Tanjung gets new title TIDORE, Maluku: The seafaring people of Central Halmahera regency conferred the title Kapitan Laut or the Captain of the Sea on Chief of the Armed Forces (ABRI) Gen. Feisal Tanjung.

Wicaksana raises loan

Wicaksana raises loan HONG KONG (Reuter): PT Wicaksana Overseas International three- year revolving credit facility has been increased to US$45 million from US$35 million, said arranger Sanwa Bank Singapore.

'Cinta yang Serakah': Teater Koma's latest innovation

'Cinta yang Serakah': Teater Koma's latest innovationBy Oei Eng Goan JAKARTA (JP): Cinta yang Serakah (Greedy Love) is something new from Teater Koma, its 79th production which opens with an old wheelchair-bound tycoon being attended to by a bunch of heartless offspring and their spouses who...

Anticipating the worst

Anticipating the worst As has been reported, General Motors Corp., a giant American car producer, is suspending its plans for additional investments in Indonesia. The company previously invested US$110 million for the assembly of Cherokee and Opel Blazer vehicles.

S'pore to repatriate boat people

S'pore to repatriate boat people SINGAPORE (Reuter): Singapore will repatriate the Vietnamese boatpeople from its one refugee camp early next week, the Home (Interior) Ministry said yesterday.It said in a statement preparations had begun to repatriate the boatpeople following the decision of the...

Ill-fated RI plane insured for $26.5m

Ill-fated RI plane insured for $26.5m LONDON (Reuter): An Indonesian DC-10 aircraft which caught fire yesterday after failing to take off from Fukuoka airport in Japan was insured for $26.5 million, London insurance market sources told Reuters.

RI needs to adjust laws with UN resolutions

RI needs to adjust laws with UN resolutions SEMARANG (JP): Indonesia needs to adjust its legal rulings so that they are more congruent with the resolutions of the United Nations' Congress on Prevention of Crime and Criminal Justice, an expert says.

Arrogant rich

Arrogant richFrom Media IndonesiaModernland Tangerang housing complex has a reputation of being exclusive. That motorists are not allowed to enter the complex from Jl. Cipondoh Raya is an indication of its exclusivity. Instead, motorists must use the gate on Jl.

Citra toll road companies get $650 million in loans

Citra toll road companies get $650 million in loans JAKARTA (JP): Two toll road development firms under the politically-well-connected Citra Group have got syndicated loans totaling Rp 1.53 trillion (US$650 million) from domestic banks to build highway projects in the city.

Kobatama gets two foreign feferees

Kobatama gets two foreign feferees JAKARTA (JP): Two international referees from the Philippines will be working the third leg of the Kobatama basketball league at Senayan Basketball Hall, after the local referees failed to impress in a match of the second leg in Semarang, Central Java.

The 'Tempo' verdict

The 'Tempo' verdict The Supreme Court yesterday overturned a decision pronounced last November by the Jakarta Administrative High Court, which ordered Minister of Information Harmoko to issue a permit allowing the news magazine, Tempo, to resume publication.

Agrarian research must be at local level

Agrarian research must be at local level JAKARTA (JP): Agricultural research and development (R&D) needs to be conducted at the local level to help communities identify and promote the most promising commodities in their respective regions, Minister of Agriculture Sjarifudin Baharsjah said...

Regents told to raise funds for national plane project

Regents told to raise funds for national plane project JAKARTA (JP): President Soeharto yesterday asked regent chiefs and city mayors throughout Indonesia to lead the fund raising campaign in their respective areas for the $2 billion jet project of state aircraft maker IPTN.

TV today

TV todayTVRI 2:30 p.m. My Country 3:05 Teenage Program: Remaja Indonesia 3:30 TV Series: Fresh Prince of Bell Air 4:05 Comedy 4:30 Quiz: Cerdas Cermat 5:00 Evening News 5:30 Business: Kepercayaan Sebagai Modal Dasar 6:00 News: Lintasan Berita 6:05 Nusantara, the Beloved Country: Bali 6:15 Village...

SE Asian corn prices under supply pressure

SE Asian corn prices under supply pressure BANGKOK (Reuter): Domestic corn prices in Thailand and Indonesia are likely to be under supply pressure from imports and local harvests over the next week, traders in both countries said.

'Tempo' ban declared lawful

'Tempo' ban declared lawful JAKARTA (JP): The Supreme Court yesterday overturned a decision by the Jakarta State Administrative Court allowing the respected news weekly Tempo to resume publication after a 1994 government ban.

Experts call again for abolition of subversion law

Experts call again for abolition of subversion law SEMARANG (JP): Experts are making a fresh call for the abolition of the anti-subversion law which they say is outdated, defective and trampling on people's rights.

If the governor hates tobacco...

If the governor hates tobacco... KENDARI, Southeast Sulawesi: Governor La Ode hates tobacco so much that he refuses to sign any documents smelling of cigarette smoke."You can expect me to refuse any documents that smell of tobacco," he told his senior staff in a meeting here yesterday.

Yayuk improves world ranking

Yayuk improves world ranking JAKARTA (JP): Indonesian tennis queen Yayuk Basuki, who was eliminated in the third round of the French Open by Lindsay Davenport, has improved her world ranking from 28th to 26th.The Women's Tennis Association announced on Tuesday that Yayuk had earned 51.

Unity in diversity

Unity in diversity What is a more eloquent slogan than "Unity in Diversity", picturing the unity of the Indonesian people consisting of many ethnic groups welded into one strong nation?In spite of the many different races and their dialects, we are very happy and proud that the Indonesian language...

Press Center welcomed

Press Center welcomed JAKARTA (JP): Governor Surjadi Soedirdja has asked his subordinates and the Jakarta branch of the Indonesian Journalists Association to create a detailed plan for a proposed Jakarta Press Center building.

Derby race at Pulo Mas track

Derby race at Pulo Mas track JAKARTA (JP): Sixty-eight horses from nine provinces will compete for total cash prizes of Rp 24.5 million in a derby at the Pulo Mas track on Sunday.The derby, which is organized to celebrate Jakarta's 469th anniversary, will feature seven races with the Jakarta Derby...

Soeharto critic may become Aussie envoy

Soeharto critic may become Aussie envoy JAKARTA (JP): One of Australia's candidates for its Indonesian ambassadorial post, Miles Kupa, is a harsh critic of President Soeharto, a press report said yesterday.

Australian education boom in RI

Australian education boom in RIBy Jennie Siat JAKARTA (JP): Before 1988, international students in Australia were given free tuition fee and Medicare. A year later, the Australian government started marketing its schools in Indonesia.

Water stoppage in Central Jakarta

Water stoppage in Central Jakarta JAKARTA (JP): The city-owned water company, PAM Jaya, announced yesterday that tap water supplies in the Pasar Baru, Lapangan Banteng and Kantor Pos areas, which were temporarily stopped yesterday, are expected to be back to normal at 10 a.m. today.

Where to go in Surabaya:

Where to go in Surabaya:Music * Shangri-La Hotel, Jl. May. Jend. Sungkono 120: - Desperados Bar & Cafe: Kilimanjaro Connection Band, from 9:30 p.m. to 1:30 p.m. nightly, except Sunday from 9:30 p.m. to 2:30 p.m. * Sahid Surabaya Hotel, Jl.

27,000 students seek apprenticeship

27,000 students seek apprenticeship JAKARTA (JP): The governor has asked government institutions and private companies to provide high school students with work experience during their break from school.

RI's non-tariff import barriers remain high

RI's non-tariff import barriers remain high JAKARTA (JP): Despite its continuing deregulation measures, Indonesia still maintains a relatively high level of non-tariff import barriers, economists said yesterday.William E.

Building mass railway network remains difficult: Tutut

Building mass railway network remains difficult: Tutut JAKARTA (JP): The construction of a mass rapid railway network in Indonesia remains difficult to be realized due to a series of constraints, according to a leading businesswoman.

S&P rates Polysindo notes BB minus

S&P rates Polysindo notes BB minus MELBOURNE (Reuter): Standard and Poor's Corp said yesterday it assigned its BB minus credit rating to the US$260 million senior notes issued by Indonesia's Polysindo International Finance Co B.V.

BI widens its intervention band to five percent

BI widens its intervention band to five percent JAKARTA (JP): Bank Indonesia widened the rupiah-dollar intervention band yesterday to 118 rupiah (five percent) from Rp 66 (three percent) in a move to curb speculation on the money market.The central bank's governor, J.

Stock Exchange

Stock ExchangeStock prices on the Jakarta Stock Exchange (in rupiah) on June 13, 1996: Shares Close Change Trading Volume ---------------------------------------------------------- Ades Alfindo 850 0 8,000 AHAP Insurance 2,800 0 0 Alumindo Perkasa 675 0 10,000 Andayani Megah 1,175 -50 150,500 Aneka...

Kimberley buys Lone Star

Kimberley buys Lone Star SYDNEY (Reuter): Kimberley Diamond Co NL said it has paid A$11.13 million for a 15 percent stake in Indonesian gold miner Lone Star Exploration.Kimberley said it purchased 9.69 million shares and paid an average price of A$1.148 per share.

Savings lottery could help fund small businesses

Savings lottery could help fund small businesses JAKARTA (JP): Traditional savings lotteries is one alternative to fund small scale entrepreneurs, a speaker in a seminar on small businesses said."I don't mean the lottery usually held by housewives, but the same basic method can be used by market...

Tree planting contest launched by govt

Tree planting contest launched by govt JAKARTA (JP): The office of the State Minister of Environment has initiated a regreening contest in an attempt to rejuvenate the public's interest in the One Million Trees Movement.