Indonesian Political, Business & Finance News

Archive: 26 July 1996

56 articles found

Electronics crunch may hit Asian economies' exports

Electronics crunch may hit Asian economies' exports SINGAPORE (Reuter): The heady days of double-digit export growth may be over for Asia's booming economies, at least for this year, as the global electronics crunch bites. "This is a trend throughout Asia because of the dominance of electronics in many countries' export markets," said Desmond Supple, an economist with the I.D.E.A think-tank in Singapore.

Mahathir down with cold: Aide

Mahathir down with cold: Aide KUALA LUMPUR (AFP): Prime Minister Mahathir Mohamad came down with a bad cold yesterday and will be resting for two days on his doctor's advice, an aide said. "It is just the common cold accompanied by fever. If there is something serious we will issue a statement," an aide said. He dismissed rumors that the 72-year old Mahathir had been admitted to the National Heart Center, saying he was, in fact, at home, resting. Mahathir completed 15 years in office this month.

Where to go in Surabaya:

Where to go in Surabaya: Music * Elmi Hotel: Jl. Panglima Sudirman No. 42-44: - Qemi Club: Karaoke/Disco, Sunday, 8 p.m. to 11 p.m.; Master Band, Monday and Wednesday, 10:30 p.m. to 12:30 a.m.; Atlantic Band, Tuesday and Saturday, 10:30 p.m. to 12:30 a.m.; Abouwhim Band, Thursday, 10:30 p.m. to 12:30 a.m.; Hazztoria Band, Friday, 10:30 p.m. to 12:30 a.m. * Majapahit Hotel: Jl. Tunjungan 65: - Palm Bar: La Costa Band, daily from 6 p.m. to 10 p.m. * Patra Surabaya Hilton International: Jl.

Canada signs cooperation agreement with Vietnam

Canada signs cooperation agreement with Vietnam JAKARTA (JP): Canada has formally recognized Vietnam as the seventh member of the Association of Southeast Asian Nations (ASEAN), giving Hanoi access to Ottawa's development aid. Canadian Foreign Minister Lloyd Axworthy and his Vietnamese counterpart Nguyen Manh Cam signed the agreement on the sidelines of the ASEAN Post Ministerial conference yesterday.

Press refuses to back out of PDI row

Press refuses to back out of PDI row JAKARTA (JP): Observers and editors yesterday cold-shouldered a call by Media Indonesia daily that the domestic media should blackout reports on the protracted leadership conflict in the Indonesian Democratic Party (PDI). Scholars and journalists contacted by The Jakarta Post agreed that the call to abstain from reporting amounted to an attempt to duck one of the press' responsibilities, namely reporting the news.

Where to go in Bali:

Where to go in Bali: Music and Entertainment * 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. Kecak dance, Friday & Tuesday. Jegog dance, Wednesday. Pesona Lounge - Live music by Filipino Guitar duo, Medi & Boy, daily. Lila Cita Fun Pub - Rakata Disc Band, Friday & Monday.

China hails trans-Eurasia railway plan

China hails trans-Eurasia railway plan JAKARTA (Kyodo): Chinese Foreign Minister Qian Qichen has voiced Beijing's support for a trans-Eurasia railway project. "We appreciate the efforts of ASEAN (Association of Southeast Asian Nations) countries in pushing forward the implementation of the ASEM (Asia-Europe Meeting) follow-up actions and support the establishment of the Asia-Europe Foundation and the plan of a cross-Eurasia railway," Qian said Wednesday.

TV today

TV today TVRI 12:00 p.m. Travel: Wajah Negeriku (My Country) 12:05 TV Series: Boogie 12:30 TV Series: Remaja Indonesia 1:05 TV Series: Fresh Prince of Bell Air 1:30 Comedy 2:05 Quiz: Cerdas Cermat 2:30 Sports: Olympiad '96 from Atlanta - live 5:00 Evening News 5:30 Business Program 6:00 News: Lintasan Berita 6:05 Nusantara, The Beloved Country: Irian Jaya 6:15 Village Program 6:45 Innovative Creation 7:00 Evening News 7:25 Garuda Pancasila/Filler/Trailer 7:30 Dynamic 8:00 News: Lintasan Berita...

Soerjadi gets final seal of approval

Soerjadi gets final seal of approval JAKARTA (JP): After one month of waiting, Soerjadi was received by President Soeharto yesterday to get the official seal of approval for his election as chairman of the Indonesian Democratic Party (PDI) at a controversial congress in Medan. "The government recognizes the PDI congress. The congress is the party's supreme assembly and all PDI members must abide by its results," Soerjadi quoted the President as saying.

State domination leads to 'disguise resistance'

State domination leads to 'disguise resistance' SURABAYA (JP): The domination of the state and its apparatus in national development has given birth to "disguised resistance" by the people, a scholar says.

Bogor traffic getting better

Bogor traffic getting better BOGOR, West Java (JP): The Bogor administration is gradually reducing the traffic congestion which usually occurs on Jl. Nyi Raja Permas and Jl. Dewi Sartika near Kebon Kacang market, a spokesman said. The congestion near the market is mostly caused by the temporary kiosks constructed for local traders who lost their stalls in a fire in March, and the street vendors along the narrow roads in front of the kiosks.

Economists to play tennis

Economists to play tennis JAKARTA (JP): The Indonesian Economists Association will stage its tenth tennis tournament at the Senayan tennis complex next week. The tournament, in which 400 of its member economists will participate, will be opened on Aug. 1 by the chairman of the Indonesian Tennis Association, Sarwono Kusumaatmadja.

PMC fails to agree on crucial questions

PMC fails to agree on crucial questions JAKARTA (JP): Foreign ministers of the Association of Southeast Asian Nations (ASEAN) and their dialog partners ended their three days of talks yesterday, remaining as far apart as they began on many major issues. While ministers claimed the meetings were "cordial and amiable", questions on a nuclear free zone, social issues in trade, Myanmar and human rights remained unresolved.

'People's sense of justice ignored'

'People's sense of justice ignored' JAKARTA (JP): More criticism was voiced yesterday against the Supreme Court over the way it had attempted to cover up alleged collusion involving its senior judges. A group of lawyers, claiming to represent all Indonesian lawyers, marched to the Supreme Court and told court spokesman Toton Suprapto that the court had trampled on people's sense of justice.

In defense of constructive engagement

In defense of constructive engagement Now that Myanmar is an ASEAN observer, with the promise of full membership in two years, it is possible to look back with some amusement on the hype and the hysterics, and the postures struck by some Western spokesmen. Not for a moment is this to suggest that ASEAN should -- or did -- turn a blind eye to what Philippine Foreign Secretary Domingo Siazon rightly described as a common commitment to "participatory democracy and respect for human rights".

President's son to take part in subway project

President's son to take part in subway project JAKARTA (JP): Bambang Trihatmodjo will join the Indonesian group of investors in Jakarta's first subway project from Blok M in South Jakarta to Kota in West Jakarta. Bambang, the second son of President Soeharto, told reporters yesterday that he intends to participate in the 14.5-kilometer project and he has sent a proposal to the city administration. "I am interested in the project and the governor supports the idea.

Stock Exchange

Stock Exchange Stock prices on the Jakarta Stock Exchange (in rupiah) on July 25, 1996: Shares Close Change Trading Volume ---------------------------------------------------------- Ades Alfindo 1,300 0 144,000 AHAP Insurance 2,700 0 0 Alumindo Perkasa 700 -25 13,000 Andayani Megah 1,300 -50 911,500 Aneka Kimia Raya 3,725 0 0 Anwar Sierad 1,975 0 46,000 Aqua Golden Mississippi 2,300 0 0 Argha Karya Prima Industry 3,050 0 50,000 Argo Pantes 1,975 0 0 Asahimas Flat 1,750 -150 488,500 Asiana IMI...

Indonesian corporate bond spreads tighten

Indonesian corporate bond spreads tighten NEW YORK (Reuter): Indonesian corporate bond spreads tightened further in anticipation of the expected pricing of the country's first sovereign issue this week, global bond dealers said. The US$350 million Baa3/BBB rated 10-year deal, meanwhile, should grab investor interest despite tight price talk and a politically charged environment, analysts said.

Toyota offers its vision for the future

Toyota offers its vision for the future By Russell Williamson Toyota-Astra will be using the Jakarta Auto Expo to give visitors a view of what the company is doing overseas as well as its concept for the future of automotive development. In addition to having its full model lineup on show, the company has procured two concept vehicles and two high-technology luxury production models from its Japanese parent company.

Media astray on disabled issue

Media astray on disabled issue SURAKARTA, Central Java (JP): Experts and activists involved in a campaign to empower disabled people have lamented the lack of media exposure on the issue. Dr. Handoyo Tjandrakusuma, the director of the Prof. Dr. Soeharso Community-Based Rehabilitation Development and Training Center, said that some of the efforts made by the media to run stories on people with disabilities have ended in misunderstanding.

Walls to enter Indonesia

Walls to enter Indonesia KARACHI, Pakistan (Reuter): Unilever unit Walls Ice Cream, after successful exports to Sri Lanka from Pakistan, is looking at Malaysian and Indonesian markets, I.S. Sangster, a senior representative of Unilever NV/Plc in Pakistan, said on Wednesday. "We have received enquiries from Malaysia and Indonesia for exports of Walls ice cream from Pakistan," he told a news conference.

Memo does not involve South China Sea issue

Memo does not involve South China Sea issue JAKARTA (JP): The Indonesian government said yesterday that the memo it had sent to the Chinese government was on China's recent declaration of its new sea baselines, which did not touch on the disputed Spratly islands in the South China Sea. "The memo we sent is about the drawing of baselines in the northern part (of the South China Sea) and along the coast of the Chinese mainland," Minister of Foreign Affairs Ali Alatas told journalists yesterday.

'Media, private sector must help fight AIDS'

'Media, private sector must help fight AIDS' JAKARTA (JP): A senior journalist said yesterday that there comes a time when the press should interpret its stories, and that time comes when it writes about the deadly Acquired Immuno Deficiency Syndrome (AIDS). "We should not only present a series of facts. A feeling of compassion, empathy and emotion must be included in news presentations on AIDS in order to arouse people's attention and understanding on the problem," St.

Resettler kids obtain degrees

Resettler kids obtain degrees AMBON, Maluku: Minister of Transmigration Siswono Yudohusodo says he is impressed by how children of transmigrants in Buru Island, Central Maluku, coped with adversities faced in settling on new land and succeeded in their educations. He praised a number of resettlers sent to the regency in 1979/1980 and whose children have now graduated from universities.

4,000 youths get training in Taiwan

4,000 youths get training in Taiwan MEDAN, North Sumatra: A total of 4,000 local youths have been included in one-year on the job training in middle-scale companies in Taiwan, Antara reported yesterday. Spokesman for the local administration Syahmerdan Lubis said that as of last December, 400 youths have gone to Taiwan to participate in training on management, production technology and marketing strategies. (31)

Betawi festival on Jl. Jaksa

Betawi festival on Jl. Jaksa JAKARTA (JP): The third annual Betawi festival, called Pesta Jalan Jaksa '96, or the Jl. Jaksa Fair, will run from July 31 to August 4 in the tourist center in Central Jakarta. Native Jakarta arts and culture including dancing, music, and story-telling, will be among the 20 types of entertainment on display. Traditional games, an exhibition and face-to-face meetings with popular artists are other features.

Freeport's commitment

Freeport's commitment Thank you for helping clearup the latest false rumor that has swept through the Timika-Tembagapura area (Irian tribal leader not abducted, July 23, 1996). Father Nato Gobay obviously knows how dangerous a rumor like this can be and he should be commended for his quick reaction to dispel this deception. I was disappointed to see that The Jakarta Post has yet to correctly describe the scope and substance of the government's Integrated Timika Development program (ITD).

Volvo and Audi race against a conservative image

Volvo and Audi race against a conservative image By Alexander Corne A Volvo race car may seem at odds with the marque's traditional conservative image, but the Swedish company is shedding its skin and strapping on fat tires to compete more effectively with BMW, Audi and Mercedes-Benz. Evidence of this can be seen on the Indomobil stand at the Jakarta Auto Expo where the British 2.0 liter racing 850 of the Tom Walkinshaw Racing team is proudly displayed.

PMC makes little progress on nuclear treaties

PMC makes little progress on nuclear treaties JAKARTA (JP): While delegates during their meetings here repeatedly expressed commitment to disarmament, the Post Ministerial Conference (PMC) that ended yesterday brought ASEAN no closer to either a nuclear test ban treaty or a nuclear free zone in the region. U.S. Secretary of State Warren Christopher said that "under proper circumstances" Washington would be willing to accede to the Southeast Asia Nuclear Weapon Free Zone (SEANWFZ) Treaty.

Nissan previews new flagship Infiniti

Nissan previews new flagship Infiniti By Russell Williamson Nissan plans to take on Toyota's Crown and the Europeans in the large luxury car stakes when it launches its new flagship Infiniti next year. Indomobil, the local importer and assembler of Nissan products, plans to introduce the I-30 Infiniti in about March next year and is displaying the car at the Jakarta Auto Expo, which starts today. The front wheel drive 3000cc V6-powered luxury sedan is expected to be priced about Rp 150 million.

Farmers protest land takeover

Farmers protest land takeover BANDUNG, West Java: A group of farmers demonstrated outside the West Java High Court demanding an objective trial of their case against PT Cisadane Perdana, a developer that appropriated their land. One of the farmers, Ihsan, said yesterday the dispute began with the issuance in 1994 of a land certificate which stated the 77.5 hectares of land in Sawangan district, Bogor regency, which was previously owned by 285 farmers, was no longer theirs.

U.S. gives conditional support to EAEC

U.S. gives conditional support to EAEC JAKARTA (JP): The United States said yesterday that it would endorse the establishment of the proposed East Asia Economic Caucus (EAEC), promoted tirelessly by Malaysia, provided it remains open to all states in the region. U.S. Undersecretary of State for Economic, Business and Agricultural Affairs Joan Spero said that her government's position on EAEC has been consistent in that it is not opposed to the caucus.

South Korean Musso set to muscle in on Jeep

South Korean Musso set to muscle in on Jeep By Russell Williamson Indonesia is set to get yet another vehicle from the automotive powerhouse that is South Korea. However, this will not be a small generic four-door sedan along the lines of the Timor, Nexia or Cakra but a large tough four-wheel drive off-roader with a Mercedes-Benz drivetrain wrapped in a SsangYong body. The SsangYong Musso will make its Indonesian debut at the Jakarta Auto Expo on the stand of its local importer, Indomobil.

Interest rates may decrease one point

Interest rates may decrease one point JAKARTA (JP): Interest rates will decrease by at least one percentage point if there are no more policy errors in the second half of this year, Rizal Ramlia, a senior researcher of the Econit economic advisory group, predicted yesterday.

Opel tests market with niche vehicles

Opel tests market with niche vehicles By Russell Williamson Despite General Motors decision to postpone future investment in Indonesia because of the national car policy, the local importer, General Motors Buana Indonesia, has one of the most impressive stands at the Jakarta Auto Expo. With three new Opel models being launched and three other automobiles being previewed, the company appears to be optimistic about the future.

U.S. asks Asia-Pacific to do more on services

U.S. asks Asia-Pacific to do more on services JAKARTA (JP): The United States stepped up its pressure on countries in the Asia-Pacific region to open up their services sector, liberalize their procurement markets and eliminate bribery practices. Addressing the American Chamber of Commerce yesterday, U.S. Secretary of State Warren Christopher said that the country will bring those issues to the World Trade Organization's (WTO) upcoming ministerial conference in this December.

'Taxi drivers should train for self-defense'

'Taxi drivers should train for self-defense' JAKARTA (JP): City police are advocating that taxi drivers be given martial arts lessons to help the drivers protect themselves from possible attacks. "We would be happy to train the drivers," city police spokesman Lt. Col. Iman Haryatna said yesterday. Taxi drivers in the city have expressed their concern with the recent spate of robberies that have ended in the deaths of some of their colleagues.

Jakarta Military Command hints at imminent action

Jakarta Military Command hints at imminent action JAKARTA (JP): The Jakarta Regional Military Command signaled yesterday that it will soon move to stop the free speech forum being conducted by supporters of Megawati Soekarnoputri at the headquarters of the Indonesian Democratic Party (PDI) here. But the warning went largely unheeded. Around 3,000 Megawati supporters staged a protest at the roundabout in front of the Hotel Indonesia in Central Jakarta in the afternoon, causing massive congestion.

South Korean's guard murdered

South Korean's guard murdered JAKARTA (JP): An employee of a South Korean businessman was stabbed to death yesterday by four unidentified men in the Tanah Abang district, Central Jakarta. Central Jakarta Police Chief Lt. Col. Abubakar Nataprawira said Hamid Suyanto, 24, was stabbed in his face, body and legs. Hamid had worked as a security guard for several months at the export-import company of his employer, Lee Koo Sik, 43.

Fuel-saving minibuses join rally

Fuel-saving minibuses join rally JAKARTA (JP): Minister of Education and Culture Wardiman Djojonegoro has urged the public to be more fuel conscious in this era of depleting energy reserves. Speaking at the National Monument (Monas) park yesterday, the minister officiated the send-off of 22 minibuses participating in the Laga Pantura 50 rally. The event will award those minibuses with the best fuel-saving modifications.

Honda's Asia car to debut at Jakarta Auto Expo

Honda's Asia car to debut at Jakarta Auto Expo By Russell Williamson PT Prospect Motor, the local importers and assemblers of Honda vehicles will preview its Honda City at the Jakarta Auto Expo. The City is expected to go on sale in the third quarter of 1996 and will join the company's other two established models, the Civic and the Accord. Although the company has yet to announce pricing, Honda will be trying hard to introduce the car at a price to compete with the Timor national car.

Rural agribusinesses need help: Official

Rural agribusinesses need help: Official JAKARTA (JP): A senior official suggested yesterday that business people should help accelerate the development of agriculture-based industries to improve the prosperity of farmers.

Pelangi Indah Canindo to go public

Pelangi Indah Canindo to go public JAKARTA (JP): PT Pelangi Indah Canindo, a metal packing manufacturer, said yesterday that it would offer 27.5 million new shares to the public to raise about Rp 19.25 billion (US$8.2 million). Pelangi's president, Dandy Ko, told journalists yesterday that 42 percent of the proceeds from the initial public offering would be used to purchase machinery to support its expansion plans. The tentative schedule for the share offering is Sept. 2 to Sept. 4.

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.

Newspaper's editorial staff asked to resign

Newspaper's editorial staff asked to resign JAKARTA (JP): The Jakarta State Administrative High Court was notified on Wednesday that the board of commissioners of PT Media Interaksi Utama (PT MIU), the publisher of Suara Pembaruan daily, had officially asked the paper's general manager, Albert Hasibuan, editor-in-chief Sutarno and director Soedarjo to resign.

ASEAN firms seek common stance on nontariff barriers

ASEAN firms seek common stance on nontariff barriers JAKARTA (JP): The ASEAN Federation of Textile Industries began its two-day meeting here yesterday to seek a joint stance in facing nontariff barriers imposed by the world's major textile importers.

Chrysler's convertible Sebring sure to be a showstopper

Chrysler's convertible Sebring sure to be a showstopper By Russell Williamson Chrysler's growth in the Indonesian market has been impressive over the past two years, with the four-wheel drive Cherokee now commanding top spot in its market sector. From its launch nearly two years ago, the Cherokee has notched up sales of almost 3000 cars for the local assembler and distributor, PT Ningz Pacific.

Tough times await telecommunication firms in Asia

Tough times await telecommunication firms in Asia By Angela Tan SINGAPORE (Reuter): The telecommunications business in Asia remains a favorite for investors but deregulation has sparked a keen battle for market share that could affect short-term profits. Analysts say the liberalization of markets spells slower than expected earnings growth over the next three years as Asian telecommunications firms pour money into advertising and engage in price wars to get a market niche.

South Korean onslaught continues with Daewoo to launch Nexia

South Korean onslaught continues with Daewoo to launch Nexia By Russell Williamson Daewoo will be the third South Korean manufacturer to enter the increasingly crowded small passenger sedan market when the Nexia goes on sale late this year. Competing against its compatriots, in the form of Bimantara's new Cakra and the Timor car -- which is effectively a Kia Sephia -- the Nexia is likely to be aiming for price as its major selling factor.

Ford move to European sourced product

Ford move to European sourced product By Russell Williamson Ford in Indonesia will begin sourcing its vehicles from Ford of Europe over the next two years. The first of these products, the Escort, will be on show at the Jakarta Auto Expo and is expected to go on sale in the first quarter of next year. The Escort is likely to replace the present Mazda-sourced Japanese-built Laser as Ford's small car competitor.

Anonymity

Anonymity Since my name has been called once again into question (The Jakarta Post, July 24, 1996), I am obliged to make some comments: * The attempt by the "anonymous" letter writer to justify anonymity didn't convince me at all. According to me, any single and valid reason can justify the concealment of our own identity. It is a matter of courage. * Ms. D.

S. China Sea solution not on the horizon

S. China Sea solution not on the horizon JAKARTA (AFP): Despite a new openness in the region, territorial disputes on overlapping maritime boundaries in the South China Sea have yet to move closer to a viable solution, Pacific Rim officials say. As a result, Asian nations would have to remain on guard to avoid igniting these potential powder kegs, especially in the garrisoned Spratly and Paracel islands, they said.

Secretaries for listed firms

Secretaries for listed firms JAKARTA (JP): The Capital Market Supervisory Agency is requiring all publicly listed companies to appoint corporate secretaries before the end of this year. The head of the capital market watchdog's law department, I Nyoman Tjager, said yesterday that any listed company should have a corporate secretary by Jan. 1, 1997 at the latest.

Asian coffee demand up, says German research

Asian coffee demand up, says German research HAMBURG (Reuter): Weak coffee demand in Asia was getting fresh impetus from instant coffee products and canned coffee drinks, German coffee association DKV said yesterday. Growth in cold coffee drinks was seen in Japan, South Korea and Thailand, according to information received by the association and published in its quarterly report. Sales of soluble coffee products were seen rising on the marketing of multinational companies.

Breast-feeding trend is declining: Official

Breast-feeding trend is declining: Official JAKARTA (JP): Fewer mothers are nursing their babies, despite the national breast-feeding campaign launched by President Soeharto six years ago, an official says. "The breast-feeding trend is declining," said Benny A. Kodyat, head of the directorate of community nutrition at the Ministry of Health, at a seminar yesterday.

Two killed at project site

Two killed at project site JAKARTA (JP): Two construction workers were killed and three others injured when working on the eighth floor of the new SCT Tower on Jl. Sudirman, Central Jakarta. A wooden board on which they were standing collapsed, one of the survivors said. The workers that died were Mamat, 20, from Gombong, Central Java, and Sumarjo, 20, from Cirebon in West Java.