Indonesian Political, Business & Finance News

Archive: 25 January 1997

62 articles found

Baby grows up in prison

Baby grows up in prison PEKANBARU, Riau: Eleven-month-old Suci Rahmadani has spent every day of her life in prison for a crime she has never committed. Her mother, Arnis, was three months pregnant when she started her 30-month jail sentence. She won't be able to walk out free until the end of June. The healthy baby is now the toast of Pekanbaru prison. Warders and prisoners alike would do anything to have the opportunity of entertaining her.

RP seeks more flights

RP seeks more flights MANILA (JP): The Philippines wants its new airlines, Grand International Airways and Cebu Pacific Air, to fly to Indonesia. Air talks are set tentatively for April. Grand Airways and Cebu Air have applied to fly between Manila and Jakarta. Flag carrier Philippine Airlines, which flies to Jakarta, may ask to fly more often to Indonesia.

Reactions on plan to set up riot alert centers continue

Reactions on plan to set up riot alert centers continue JAKARTA (JP): More support is pouring for the government's plan to set up "alert command centers", at each of the over 240 district military commands, to monitor and prevent unrest. Moestahid Astari of the ruling Golkar and Soerjadi of the Indonesian Democratic Party (PDI), as well as military analyst Yahya Muhaimin of Gadjah Mada University in Yogyakarta, separately welcomed the plan.

Singapore High Court rejects politician Tang's legal bid

Singapore High Court rejects politician Tang's legal bid SINGAPORE (Reuter): The Singapore High Court yesterday dismissed an opposition politician's application to strike out defamation suits filed by the prime minister, two ministers and other ruling party members. The ruling permits the suits to go ahead. Legal sources said the court also dismissed an application by Tang Liang Hong's lawyers for an extension to file his defense, and ordered Tang to pay the cost for yesterday's application.

Regent can't stop illegal workers

Regent can't stop illegal workers KUPANG, East Nusa Tenggara: East Flores Regent Hendrikus Hengki Mukin said it was practically impossible for him to prevent residents in his regency from working illegally in Malaysia. Working in Malaysia -- legally or otherwise -- was a tradition among people in East Flores dating back to the Dutch colonial times, he was quoted by Antara as saying yesterday.

Managing city finances

Managing city finances Jakarta Governor Surjadi Soedirdja submitted to the City Council on Wednesday his proposal for a 5.18 percent increase in the administration's spending for the year starting April 1. Later on, he said the overall budget is only a fifth of what is ideally needed to manage a city as big and as complex Jakarta, currently home to over nine million people. Of course, given the city's limited financial resources, the governor cannot be expected to have his way.

Review urges Australia to end Asian radio, TV

Review urges Australia to end Asian radio, TV CANBERRA (Reuter): An inquiry urged Canberra yesterday to shut down the Asian radio and television services of the Australian Broadcasting Corporation (ABC), a quality public broadcaster slated by the government for inefficiency. The ABC, a close equivalent of Britain's BBC, should also pare down its extensive management and also contract out much of its television production, inquiry chief Bob Mansfield recommended to the government.

Asian stock marts fall after Wall Street drop

Asian stock marts fall after Wall Street drop TOKYO (AFP): Share prices on most major bourses in the Asia- Pacific region fell yesterday as sentiment was hurt by a drop on Wall Street, brokers said. Japanese share prices fell with the key market barometer closing 1.2 percent lower following a steep setback on Wall Street and a rally by the dollar, brokers said.

Fight over Busang gold mine

Fight over Busang gold mine From Bisnis Indonesia A fight over the Busang mine between Bre-X Minerals Ltd., Barrick Gold Corp. and a private company has been raging for some time, while the government is appealing to the companies' generosity for a 10 percent share. This resignation on the part of the government is strongly deplored by many sides who see the potential of the gold mine.

JSX prices lose ground on profit taking

JSX prices lose ground on profit taking JAKARTA (JP): Share prices on the Jakarta Stock Exchange (JSX) closed 0.9 percent lower yesterday as investors started taking profits. A dealer at a foreign brokerage firm said the market had remained strong but colored with profit taking on big capitalized stocks. The JSX index dropped 6.07 points yesterday to close at 678.91, down from 684.98 the previous day.

Boxing body to call Pino in policy U-turn

Boxing body to call Pino in policy U-turn JAKARTA (JP): The Indonesian Boxing Association is to ask Pino Bahari to attend the 19th SEA Games training program despite his refusal to attend the training camp last week. Poul Toding, the association's chairman, said yesterday that Pino, who wants to turn pro, is expected to join the national squad for the biennial event, thanks to promoter Turino Tidar.

Where to go in Jakarta:

Where to go in Jakarta: Music * Hotel Aryaduta, Jl. Prapatan 44-48, Central Jakarta: - Ambiente Italian Restaurant: Los Morenitos Vocal Group, Monday, Thursday, Sunday, 7:15 p.m. to 11 p.m.; Los Paraguas Vocal Group, Tuesday, Wednesday, Friday, Saturday, 7:15 p.m. to 11 p.m. - Ambassador Lounge: Pianist Sudarmadi, Monday through Saturday, 7:30 a.m to 9:30 a.m.; Boece & Ayu, daily except Monday and Tuesday, at 9 p.m. to 12:30 a.m., Monday and Tuesday at 8 p.m.

Soeharto's Olympic vision

Soeharto's Olympic vision JAKARTA (JP): President Soeharto wants Indonesia to host both the 2006 Asian Games and 2008 Olympics. "The President asked me to assess the possibility of Indonesia hosting the two international major sport events," Minister of Sports and Youth Affairs Hayono Isman said after meeting the President yesterday.

Merapi active again, emits 13 blasts

Merapi active again, emits 13 blasts YOGYAKARTA (JP): After two days of insignificant activity, Mt. Merapi again began spewing hot clouds early yesterday. Volcanologists stationed at the Kaliurang monitoring post said Mt. Merapi spewed clouds of hot ashes 13 times between 1 a.m. and 3 a.m. yesterday, the time of pre-dawn meal (sahur) for Moslems observing the holy fasting month of Ramadhan. Many people, therefore, were unaware of the increased activity so there was no panic.

Illegal buildings to be demolished

Illegal buildings to be demolished JAKARTA (JP): North Jakarta Mayor Suprawito has ordered the city public order office to demolish all buildings built without permits in the Kramat Tunggak red-light district in North Jakarta. "There are no exceptions," Suprawito said Thursday. The Republika daily reported Thursday that more than 90 buildings, permanent and semipermanent, had been built without permits in the prostitution complex.

BDNI nets record profit

BDNI nets record profit JAKARTA (JP): Bank Dagang Nasional Indonesia (BDNI) announced yesterday a record net profit of Rp 190.7 billion (US$80 million) for 1996, up 36 percent on 1995. The bank said the rise was driven by a 30 percent increase in operating income, which amounted to Rp 576.5 billion. Of the Rp 134.3 billion increase in operating income, 42 percent came from increased interest income and the rest from fee income.

Cathay reschedules flights

Cathay reschedules flights JAKARTA (JP): Hong Kong's Cathay Pacific Airways will reschedule it Denpasar-Hong Kong flights from Feb. 1 to meet rising demand and accommodate passengers on connecting flights to Europe and Los Angeles. Its flights to Hong Kong will depart Denpasar at 4:10 p.m. on Monday, Saturday and Sunday, and 4:00 p.m. on Wednesday. The flights to Denpasar will leave Hong Kong at 10:15 a.m. on Monday, Wednesday and Sunday, and 9:55 a.m. on Saturday.

Kiani Lestari gets reforestation funds for its pulp factory

Kiani Lestari gets reforestation funds for its pulp factory JAKARTA (JP): Minister of Forestry Djamaludin Suryohadikusumo confirmed yesterday that his ministry had lent Rp 250 billion (US$108.70 million) in reforestation funds to PT Kiani Lestari for its pulp and paper factory. Djamaludin said the loans were given to the company "to save state funds" in Kiani Lestari's pulpwood estate, which was ready for harvest.

S&P assigns 'BBB' rating to BNI's senior notes

S&P assigns 'BBB' rating to BNI's senior notes JAKARTA (JP): Standard and Poor's (S&P) has assigned a "BBB" long-term rating to Bank Negara Indonesia's (BNI) US$145 million senior notes issue due 2007. The international rating agency said yesterday the triple-B rating reflected the likelihood of Indonesian support for BNI if the bank became financially distressed.

Coffee curbs aim to lock in 30 percent price rise

Coffee curbs aim to lock in 30 percent price rise LONDON (Reuter): World coffee prices are up by 30 percent from the start of 1997 and traders say they may be expected to stay firm if producing nations can implement a new accord to cut exports. The rally on the price of beans hasn't yet led to many increases on retail coffee on the supermarket shelf but leading roasters are keeping a close eye on a market where stocks are low and short-term supply may be tight.

King for a day on a first-class sky trek

King for a day on a first-class sky trek By John Aglionby As part of the aviation theme, Ansett Australia and British Airways provided The Jakarta Post with first class tickets to and from Kuala Lumpur respectively. To assess whether the additional facilities are worth the extra charge, economy-class regular John Aglionby deserted cattle class to sample a taste of mile-high luxury.

'Two associations may lead futures exchange'

'Two associations may lead futures exchange' JAKARTA (JP): Analysts fear the coffee and edible oil associations could dominate the planned futures commodity exchange at the expense of farmers' cooperatives. At yesterday's House of Representatives hearing with a special team the Golkar faction set up, lawyer Dimyati Hartono and trade consultant Rudy Lengkong said the commodity exchange bill had loopholes which could allow the bourse to be dominated.

Govt raises rice and fertilizer prices

Govt raises rice and fertilizer prices JAKARTA (JP): The government yesterday increased the producer price (floor price) of unhusked rice by 16.6 percent and fertilizers by an average of 21 percent to increase farmers' income and cut back on fertilizer subsidies. After meeting with President Soeharto at Merdeka Palace yesterday, Minister of Agriculture Sjarifudin Baharsjah said the floor price of unhusked rice would be propped up from Rp 450 (19.5 U.S. cents) to Rp 525 per kilogram.

Yellow, yellow everywhere

Yellow, yellow everywhere From Neraca Whatever reason there is behind the widespread use of yellow to color all objects in Surakarta, Central Java, the action is childish and immature. The use of yellow paint for public and social facilities reflects personal or group interest and blatantly ignores people's rights. Imagine if all objects, including trees were painted yellow. Why were Indonesian workers returning from Malaysia to Surabaya made to wear yellow T-shirts?

Congressman urges U.S. effort on E. Timor

Congressman urges U.S. effort on E. Timor WASHINGTON (Reuter): A U.S. congressman who recently visited East Timor urged the Clinton administration on Thursday to take the lead in tackling human rights abuses in the territory. Highlighting reports of torture and killings, Representative Frank Wolf suggested Washington send a high level envoy like Gen. Colin Powell, the former chairman of the U.S. Joint Chiefs of Staff, to discuss the situation with Indonesian officials.

Christmas Island to loose major earner

Christmas Island to loose major earner JAKARTA (JP): The owner of Christmas Island Resort has appealed to the Supreme Court in Western Australia to appoint any party except Casino Austria to manage the resort in order to save the property as well as hundreds of its employees.

Brits sentenced for anti-RI protest

Brits sentenced for anti-RI protest LONDON (Reuter): Two British activists who trespassed onto British Aerospace (BAe) property to protest at the export of Hawk missiles to Indonesia received three-month suspended jail sentences yesterday for contempt of court. Ciaron O'Reilly of Liverpool and Stephen Hancock of Oxford admitted they had breached an injunction and buried a child's coffin on BAe land last December to bury in memory of East Timorese who have died under Indonesian rule.

Expatriates and home ownership

Expatriates and home ownership By Frans Hendra Winarta JAKARTA (JP): Can a foreigner own a house? Maybe. Last year, the government issued a regulation allowing foreigners to purchase houses and land here. But not every foreigner is subject to the new stipulation. Government Regulation No. 41/1996 stipulates that expatriates who are permitted to own property are those who live in Indonesia and whose presence is beneficial to national development.

Toyota-Astra pits sales recovery on restyled Kijang

Toyota-Astra pits sales recovery on restyled Kijang By Russell Williamson TOYOTA-ASTRA is banking on the new Kijang to lead its sales recovery in 1997. The new model -- launched earlier this month -- features a dramatic restyle and will be built in a wider range of models aimed at attracting new customers. The marketing manager for Toyota Astra, Mr. Nobuharu Tabata, said the company expected to sell about 75,000 Kijangs this year, up from 60,041 vehicles last year.

BRI travelers checks

BRI travelers checks JAKARTA (JP): State-owned Bank Rakyat Indonesia (BRI) sold Rp 2.5 trillion (US$1.05 billion) in travelers checks last year, up from Rp 1.9 trillion in 1995 and Rp 1.3 trillion in 1994. "We aim to sell more travelers checks this year to meet customer demand," Katiyo, the bank's product management and marketing head, said Thursday. Its checks are sold in Rp 25,000, Rp 50,000, Rp 100,000 and Rp 10 million denominations and can be cashed at BRI branches.

Rector enters political jungle

Rector enters political jungle YOGYAKARTA: Rector of the prestigious Gadjah Mada University Soekanto Reksohadiprojo frowned yesterday on his students' objections to his legislative candidacy. Soekanto told The Jakarta Post the students had the right to raise objections but he said he would not change his mind. "The minister of education and culture has already given his blessing," he said.

More phones for holiday revelers

More phones for holiday revelers JAKARTA (JP): The state telephone company will install more public telephone booths at train stations and bus terminals for Idul Fitri revelers. South Jakarta Telephone Office head Nyoman Wirianata said yesterday his office would open a telegraph service, 24-hour phone non-disruption service and more payment counters.

Textile exports rose 10.5 percent in 1996: Tunky

Textile exports rose 10.5 percent in 1996: Tunky JAKARTA (JP): Export of textiles and textile products rose 10.5 percent to US$6.85 billion last year from $6.2 billion in 1995, Minister of Industry and Trade Tunky Ariwibowo said yesterday. After meeting with President Soeharto, Tunky said the increase was the highest growth in the last five years.

Neighbor unfazed S'pore's high-tech

Neighbor unfazed S'pore's high-tech SINGAPORE (AFP): Singapore officials are not worried by the threat of being overtaken by neighboring Malaysia as an information technology (IT) leader, the Straits Times reported yesterday. National Computer Board chief executive Stephen Yeo was quoted as saying that Singapore enjoys superior infrastructure and a high rate of computer literacy among its three million people.

UK, RP team up against child sex

UK, RP team up against child sex MANILA (Reuter): A team of British detectives specializing in cases of child sex abuse said yesterday they had established information links with Philippine police to strengthen the fight against pedophiles. Since last year, when the Philippines toughened its drive against pedophiles, one Briton has been convicted and jailed on charges of sexually abusing children.

Five state public works firms perform poorly

Five state public works firms perform poorly JAKARTA (JP): Five of the 19 state enterprises under the Ministry of Public Works are unhealthy and four are less healthy, the ministry's secretary-general said yesterday Ruslan Diwiryo said the five companies were categorized as unhealthy on the basis of their audited 1995 financial reports.

Merging with SI won't be easy, Sucofindo chief says

Merging with SI won't be easy, Sucofindo chief says JAKARTA (JP): State-owned surveyor PT Superintending Company of Indonesia (Sucofindo) does not mind merging with PT Surveyor Indonesia (SI), but warns it could be difficult. Sucofindo president Moedjiono acknowledged yesterday the government was considering merging the two state companies.

Hashim to build $2.3b petrochemical complex in E. Java

Hashim to build $2.3b petrochemical complex in E. Java JAKARTA (JP): A joint venture of Indonesian, Thai and Japanese companies signed an agreement yesterday to develop a US$2.3 billion olefin and aromatic plant in Tuban, East Java. "The complex, scheduled for completion by mid-1999, will be the largest of its kind in Indonesia," Hashim S. Djojohadikusumo, chief executive officer of PT Tirtamas Majutama, said.

Residents seek more compensation

Residents seek more compensation JAKARTA (JP): Residents of Kotabambu Utara, West Jakarta, have asked the City Council for more compensation for their properties which will be demolished for a waterway project. Eight people, representing 225 residents, took their case to the City Council yesterday. But no councilor met them. Residents' spokesman Nawadir Said said the delegate presented a complaint letter to the council.

Police shoot dead four men

Police shoot dead four men JAKARTA (JP): Police have shot dead four men in the last two days for resisting arrest in East Jakarta, South Jakarta and North Jakarta. East Jakarta Police Chief Lt. Col. Nanan Sukarna said police shot dead Nimin Kosasih, 54, a suspected fencer of stolen vehicles, at dawn on Jl. Batu Ampar. "He tried to steal a gun from a police officer and escape. The officer shot him after firing two warning shots," Nanan said. Nimin lived in Jl. Kampung Tengah, East Jakarta.

'Nepotism not widespread among city candidates'

'Nepotism not widespread among city candidates' JAKARTA (JP): A Golkar Jakarta chapter executive said yesterday nepotism could not be widespread among candidates for the City Council elections because city people were critical. Deputy of the Council's Commission B for Economic Affairs Nitra Arayad said yesterday the appointment of a few of its 120 candidates might be based on nepotism. "But I guarantee there is no nepotism for the rest of the candidates.

Jimbaran Group welcomes new partnership body

Jimbaran Group welcomes new partnership body JAKARTA (JP): Sudwikatmono, a Jimbaran Group founder, welcomed yesterday the establishment of the Coordinating Board for the Implementation of National Business Partnership Program. "The formation of the new group will reduce our responsibility to help the government eradicate poverty," he said in Surabaya.

Wages and efficiency

Wages and efficiency On April 1 regional minimum wages for all Indonesian workers will be increased by an average of 10.07 percent. The increase was given a rather cool welcome by the All-Indonesia Workers Union (SPSI), which had hoped for an increase of at least 15 percent. SPSI chapters in the provinces also appear to be disappointed after hoping for a 20 percent increase.

200 contest Enerpac meet

200 contest Enerpac meet JAKARTA (JP): Almost 200 chess players are currently taking part in the Kiani-Kertas Enerpac tournament. The tournament was opened by Cholid Gozali, deputy chairman of the Indonesian Chess Association, Thursday. It is being held at Wisma Catur Sumanti and runs until Feb. 3. The players come from Jakarta, West Java and East Java.

More levies imposed on foreign workers

More levies imposed on foreign workers JAKARTA (JP): The government has issued a decree requiring expatriates working in Indonesia to pay US$100 a month during the period of their working contract. The money will finance vocational training programs for local workers, spokesman for the manpower ministry Sutanto told reporters yesterday. The levy is a condition of obtaining a work permit in Indonesia and will have to be paid by the worker's employer before they get the necessary working permit.

Transportation problems on increase prior to Idul Fitri

Transportation problems on increase prior to Idul Fitri JAKARTA (JP): Idul Fitri holidays are still two weeks away, but major highways and ports in populous Java and Sumatra are becoming increasingly jammed by homeward bound revelers. Hundreds of trucks carrying supplies for the holidays that peak on Feb. 9 and 10 were stalled due to traffic jams on Java's highways. The authorities estimate about 25 million people will return to their home villages this season.

Rights body says govt has not ignored report

Rights body says govt has not ignored report JAKARTA (JP): Baharuddin Lopa of the National Commission on Human Rights strove to alleviate yesterday suspicions that the government has ignored the body's report and recommendations on the July 27 riots in Jakarta. "There's no way the government would ignore such an important report," Lopa told a delegation from the ousted central board of the Indonesian Democratic Party (PDI) here yesterday.

Military denies soldiers raped Timorese woman

Military denies soldiers raped Timorese woman DILI (JP): The military denied reports yesterday that soldiers in the Ermera district twice raped a woman detained on charges of helping separatist rebels in November. Col. Soekotjo HS told The Jakarta Post yesterday that a "field check" found that the rape, reported by the Dili diocese's Commission for Justice and Peace, had not happened. The commission said in a letter to Dili's Wira Dharma military command dated Dec.

U.S. suspends joint exercises

U.S. suspends joint exercises MANILA (AFP): The United States has suspended joint military exercises and port calls by its ships in the Philippines since Manila cannot guarantee protection for U.S. personnel, a Filipino senator said yesterday. Senate foreign relations committee chairman Blas Ople in a statement said the issue was discussed in a meeting he had with U.S. Ambassador Thomas Hubbard on Thursday. Last month in a mutual defense board meeting held here, the U.S.

Alert centers to be permanent: Officials

Alert centers to be permanent: Officials JAKARTA (JP): Two senior officials said yesterday that the aim of the planned riot alert centers was not to solve transient problems but to be permanent establishments. Armed Forces Chief Gen. Feisal Tanjung and Coordinating Minister for Political Affairs and Security Soesilo Soedarman separately denied speculation that the "alert command centers" are to be created to anticipate possible trouble in the upcoming general election.

'Asia car' hits Thailand's showrooms

'Asia car' hits Thailand's showrooms By Russell Williamson THAILAND will become the first market to begin selling Toyota's "Asia car" when the Soluna goes on sale there next week. The Soluna has been developed by Toyota Motor Corp in Japan under the "affordable family car" project and aims to meet the needs of consumers in the developing nations of Southeast Asia.

Cyclists eying first SEAG gold

Cyclists eying first SEAG gold JAKARTA (JP): The Indonesian Cycling Association expects to win the women's 25km Individual Time Trial (ITT), the first gold medal at stake at 19th SEA Games here in October.

Special permits needed for extra Idul Fitri buses

Special permits needed for extra Idul Fitri buses JAKARTA (JP): Operators of extra Idul Fitri buses need special permits, a City Land Transportation Control Agency official said yesterday. The agency's traffic and transportation control subdivision head Oriyanto Supardal said this included those companies used to transport homecoming employees. He said permits were necessary because the extra buses would not ply their regular routes during Idul Fitri.

Ramadhan time for Jakarta

Ramadhan time for Jakarta Saturday Maghrib 6:19 p.m. Sunday Imsak 4:22 a.m. Subuh 4:32 a.m.

Lack of data hinders resettlement program

Lack of data hinders resettlement program JAKARTA (JP): A lack of information on city-owned land and a shortage of funds have hampered programs to resettle people living along riverbanks, a housing agency official said Thursday. Nusmardi, who is in charge of cheap apartments, said his office could not build cheap apartments on individuals' or private firms' land. "Using the property of private firms or individuals for this purpose would be too costly.

BAA to manage Ngurah Rai airport

BAA to manage Ngurah Rai airport JAKARTA (JP): British firm BAA Pacific has agreed to manage Bali's Ngurah Rai airport's commercial activities in a joint operation with state airport operator PT Angkasa Pura I. Angkasa president Fachri Zainuddin said yesterday BAA would help expand the airport's commercial activities. The US$46 million expansion would start once the Ministry of Finance approved it, he said. "The joint operation will allow BAA to manage the commercial activities for 20 years.

Stock Exchange

Stock Exchange Stock prices on the Jakarta Stock Exchange (in rupiah) on Jan. 24, 1997: Shares Close Change Trading Volume ------------------------------------------------------------- Ades Alfindo 1,000 0 0 AHAP Insurance 2,675 0 0 Alter Abadi 1,125 0 445,500 Alumindo Light Metal 1,425 0 2,112,500 Alumindo Perkasa 800 0 0 Andayani Megah 1,025 25 1,455,500 Aneka Kimia Raya 1,400 -25 289,500 Anwar Sierad 2,000 -50 47,500 Aqua Golden Mississippi 4,125 0 20,000 Argha Karya Prima Industry 3,350 -25...

Mayoralties to collect sanitation revenue

Mayoralties to collect sanitation revenue JAKARTA (JP): Governor Surjadi Soedirdja urged Jakarta's subdistrict heads Thursday to help tackle the city's garbage disposal problem by contributing more to city revenue. Surjadi was speaking after signing an agreement with Jakarta's five mayors transferring the responsibility of collecting sanitation fees from the city sanitation agency to mayoralties. Subdistrict heads will be in charge of collecting the fees.

Thai's truck exports up

Thai's truck exports up BANGKOK (DPA): Thailand exported 14,023 one-ton pickup trucks in 1996, a 41 per cent increase over 1995 exports, but motorcycle exports were down 22 per cent, industry sources said yesterday.

New Malaysian race series

New Malaysian race series KUALA LUMPUR: Malaysia's Shah Alam Circuit managers, MOFAZ- SAMP Sdn Bhd, have announced the introduction of a 10-round Malaysian Formula Campus Championship. MOFAZ-SAMP, the promoters of the series, will offer competitors a package which covers all racing costs and one day of testing prior to each race weekend for all 10 rounds for US$28,000. The series will help focus the development of motor sports in the Asia-Pacific region.

Feasibility study on waterfront city underway: Official

Feasibility study on waterfront city underway: Official JAKARTA (JP): A feasibility study of the Waterfront City Project will be ready in six months, Deputy Governor in charge of Economic and Development Affairs, Tb. M. Rais said yesterday. He said discussions were underway about a memorandum of understanding with contractors for the project which would be built on 2,700 hectares on the north Jakarta coast. On Wednesday Governor Surjadi Soedirdja sought support from legislators on the project.

Taiwan bank in Subic

Taiwan bank in Subic MANILA (AFP): Chinatrust Commercial Bank Ltd. of Taiwan yesterday opened a branch in the former U.S. naval base of Subic Bay which the Philippines has transformed into a free port, officials said. Chinatrust, described as the largest private bank in Taiwan with assets totaling US$13.7 billion, is the first foreign bank to set up an office in Subic, the Subic Bay Metropolitan Authority (SBMA) said in a statement.