Indonesian Political, Business & Finance News

Archive: 29 October 1997

57 articles found

AIDS volunteers mingle at Bali's busy Kuta beach

AIDS volunteers mingle at Bali's busy Kuta beach By Leyla Alyanak KUTA, Bali (JP): Agus scans the new group of Japanese tourists with precision, weighing his chances like a pro. Most of the women are with their friends or husbands. But one of them, fortyish and with cropped hair, is alone. Agus has found his mark. Not letting her out of his sight, he waits until she has settled on the beach for the day. "Are you looking for a boyfriend?" he asks, sitting gingerly on the burning hot sand.

Man arrested, violent wife hiding: Police

Man arrested, violent wife hiding: Police JAKARTA (JP): Police have detained the husband of a woman who allegedly assaulted five maids in Kembangan, West Jakarta, city police spokesman Lt. Col. E. Aritonang said yesterday. The man, identified only as Kresna, should also be held responsible for the behavior of his wife, who is now in hiding, Aritonang claimed. Kresna was arrested Monday night when he returned home from work so police could question him about his wife's whereabouts, he said.

PT Astra Agro Lestari to offer 125.8m shares

PT Astra Agro Lestari to offer 125.8m shares JAKARTA (JP): The currency turmoil over the past three months has not affected plantation company PT Astra Agro Lestari's plan to offer its shares to the public early next month. PT Astra Agro Lestari, a subsidiary of the country's largest automaker PT Astra International, plans to offer 125.8 million shares. The company's president Benny Subianto said yesterday the shares would account for 10 percent of the company's total enlarged capital.

Asian currencies hold on, U.S. dollar falls out of favor

Asian currencies hold on, U.S. dollar falls out of favor SINGAPORE (Reuters): Southeast Asian currencies held their ground yesterday as the U.S. dollar fell out of favor after Wall Street's historic drop overnight. Wide spreads and thin volumes exaggerated volatility, but dealers said most Asian currencies kept their cool after an expected sell-off on the back of diving regional stock markets failed to materialize.

Singapore offers $10b in aid: Soeharto

Singapore offers $10b in aid: Soeharto JAKARTA (JP): President Soeharto disclosed yesterday that Singapore had offered US$10 billion in assistance to help restore confidence in the Indonesian economy. Out of the $10 billion, Soeharto said, $5 billion would be standby loans to strengthen the country's foreign exchange reserves.

Murder a case of 'mistaken identity'

Murder a case of 'mistaken identity' TANGERANG (JP): Police have detained a drink vendor for allegedly stabbing to death a student in the Bumi Serpong Damai housing complex here. A detective from the Tangerang Police precinct said Monday that Sumaji, 17, had been accused of stabbing Panser Sadanian, 17, with a machete Sunday apparently in retaliation after a group of people extorted money from him.

Reforestation funds remain in SBIs

Reforestation funds remain in SBIs JAKARTA (JP): The Ministry of Forestry would unload its Rp 1.2 trillion (US$333 billion) in reforestation funds placed in Bank Indonesia Certificates (SBIs) only if President Soeharto orders to do so, the ministry's secretary-general said yesterday. Oetomo said the ministry would continue to roll over its SBIs at maturity to help the monetary authority keep liquidity in check.

Unemployment rate rises 6% in the city

Unemployment rate rises 6% in the city JAKARTA (JP): A city councilor expressed concern yesterday over the high level of unemployment, which increased from 4 percent last year to 6 percent of the city's nine million residents this year. "This is really dangerous for the city and its future development," Djafar Badjeber, a member of the United Development Party faction, told The Jakarta Post yesterday.

RI says no to conditioned aid

RI says no to conditioned aid JAKARTA (JP): Minister of Foreign Affairs Ali Alatas stressed again yesterday that Indonesia would not accept other countries' attempts to make human rights records a condition for development cooperation. The minister said this narrow and one-sided approach was counterproductive and a blatant denial of people's rights to development.

Be sure you know what you write

Be sure you know what you write Sometimes, I wonder why the editor of a prestigious paper, as The Jakarta Post is, decides to submit to its readers nonsense masked as articles written by pseudo-columnists. In addition to the recurring articles dealing with sports written by journalists who, being wrapped in a flag, see the sport only through certain colors (see Vic Mills & Co), this paper presents now and then some articles written by columnists who really don't know what they are dealing with.

Soeharto to propose APEC response to financial turmoil

Soeharto to propose APEC response to financial turmoil SINGAPORE (AFP): President Soeharto is to propose at an upcoming APEC summit an action plan to avert financial turmoil caused by excessive currency fluctuations which have damaged Southeast Asian economies, an official said yesterday.

Inovax postpones PT Ponco purchase

Inovax postpones PT Ponco purchase PERTH (Reuters): Australian drug developer and distributor Inovax Ltd said it would postpone the purchase of Indonesian drug maker PT Ponco for A$94.6 million due to Southeast Asia's economic turmoil.

Analysts doubt polling on next president

Analysts doubt polling on next president JAKARTA (JP): Two senior military analysts welcomed yesterday the idea of a national poll on President Soeharto's acceptability, but expressed doubts that it could be carried out successfully. The deputy governor of the National Resilience Institute, Juwono Sudarsono, and a former governor of the institute, Sayidiman Suryohadiprojo, both said they thought the national poll proposal was a good one in principle.

Beachfront residents to be evicted

Beachfront residents to be evicted PALU, Central Sulawesi: As many as 112 low-income families dwelling along the beachfront area here are in danger of being evicted because their homes violate the city's spatial plan. The head of the city planning office, Gusti Alam Saad, claimed Monday that the city's blueprints designate the beachfront area as a greenbelt. He maintained that the houses there were built illegally and without appropriate permits.

Howard arrives on working visit

Howard arrives on working visit JAKARTA (JP): Australian Prime Minister John Howard, who arrived here yesterday for a two-day working visit, will hold a discussion with President Soeharto at Merdeka Palace this morning. During the meeting, the two leaders will likely focus their attention on economic and political issues, especially the ongoing Southeast Asian currency crisis, palace officials said yesterday.

Cahyo Budiono breaks record as longest-playing drummer

Cahyo Budiono breaks record as longest-playing drummer YOGYAKARTA (JP): Cahyo Budiono of the Purwokerto-based Zaragoza Band broke on Monday Indonesia's record for the longest- playing drummer, playing his drum set for 12 hours and 40 minutes straight. The previous record was established in 1988 by a more prominent musician, Jelly Tobing of the Bharata Band, who played eight hours without stopping. Tobing's feat was recorded in the Guinness Book of Records.

Thai cabinet must make tough decisions

Thai cabinet must make tough decisions Thailand's new cabinet cobbled together by Prime Minister Chavalit Yongchaiyudh in the hope of staving off public demands for his resignation, held its first working meeting Monday. The key changes in last week's reshuffle was followed by subsequent public protests as Mr. Chavalit's six-party coalition grappled with the International Monetary Fund's rescue measures.

Safe distance in driving

Safe distance in driving From Media Indonesia We are still concerned with the low quality of drivers in our country. I once witnessed a chain of collisions which later resulted in a long-winded debate as the driver who rammed his car into the car in front of him blamed the driver of this car for braking suddenly.

Smog-hit SE Asia could become tourist no-go zone

Smog-hit SE Asia could become tourist no-go zone By Chris Johnson SINGAPORE (Reuters): Choking yellow-gray smog over Southeast Asia has already closed factories, canceled flights and lengthened queues in doctors' waiting-rooms. But much worse could be in store if the raging forest fires across Indonesia are not put out soon -- and for good.

Shares prices fall worldwide

Shares prices fall worldwide JAKARTA (JP): Shares prices on the Jakarta Stock Exchange (JSX) plunged sharply by 8.59 percent or 42.12 points to a new low of 447.99 points yesterday as billions of dollars were wiped off stock exchanges worldwide. The panic selling by most investors was triggered by the overnight plunge in Wall Street on Monday and another crash of the Hong Kong Stock Exchange yesterday, brokers said.

First Hard Rock hotel in Bali

First Hard Rock hotel in Bali JAKARTA (JP): The island of Bali, one of the world's leading tourist destinations, has been chosen for the first Hard Rock Beach Club. The property, scheduled to open next May, will be located near busy Kuta beach and will combine hotel, resort, musical and recreation park, according to Hard Rock spokesperson Linda Agee. Owned by Adiguna Sutowo of PT Amanda Pramudita of Indonesia and managed by Hard Rock Hotels & Resort Management Pte.

AMP Panin Life sold to Dharmala Manulife

AMP Panin Life sold to Dharmala Manulife JAKARTA (JP): Publicly listed PT Panin Life and Australian Mutual Provident Society (AMP Society) have sold their stakes in PT AMP Panin Life to PT Dharmala Manulife for Rp 22.8 billion (US$6.33 million). Panin's president Fadjar Gunawan said yesterday his company sold its 35 percent stake in AMP Panin, a joint venture with AMP Society, to consolidate its business.

Man found dead at boarding house

Man found dead at boarding house JAKARTA (JP): A man was found dead in his room at a boarding house on Jl. Kirai, North Cipete, in South Jakarta yesterday. The victim, identified as Budi Santoso, 25, was an employee of Mie Gunting restaurant in Senayan. His body was found by the house owner who became suspicious after not seeing Budi come out of his room for three days, Kateni Suyani, the neighborhood leader, said.

Security officer hit by train

Security officer hit by train JAKARTA (JP): A security guard was crushed to death by an express train, plying the Jakarta-Bandung route yesterday. The victim, identified as Tubagus Benny Umar Atmakusumah, 42, was a resident of Paseban Timur, Central Jakarta. He was crushed near Jl. Cipinang Raya in East Jakarta, right in front of Cipinang Prison, Chief Sgt. T. Manalu of the Jatinegara military district said.

Six foreign contractors bid for Padang airport

Six foreign contractors bid for Padang airport JAKARTA (JP): The government will announce in December the winning developers of the Ketaping International Airport project in Padang, West Sumatra, an official said yesterday. The head of the Ministry of Transportation's Padang office, Martunus Said, said the tender for the airport project opened in Jakarta yesterday. He said six offshore firms were likely to enter their bids for the projects.

Four SEA Games athletes fail doping tests

Four SEA Games athletes fail doping tests JAKARTA (JP): The 19th SEA Games organizing committee announced yesterday that four medalists had tested positive for banned substances. Secretary-general Rudolf S. Warouw identified the athletes as Indonesian cyclist Tonton Susanto, Myanmar body builder Khing Maung Htwe, and marksman Nuanwan Kerdsumran and decathlete David Jimsumruay, both Thai.

Discipline movement hits Jakarta streets

Discipline movement hits Jakarta streets JAKARTA (JP): Governor Sutiyoso has urged members of the National Discipline Movement to act responsibly as they carry out their public-order tasks. Sutiyoso asked them Monday to make themselves role models for the public and not to overact. "Start to discipline yourselves, because being an example is a way of making people more disciplined," he said.

Spotlight

Spotlight Photo A: ISO JP/msa WIRED FOR SUCCESS: R.A. Barkhuis (right), head of PT KEMA Registered Quality Indonesia, an affiliate of the Netherlands- based Kema company, presents the ISO 9002 certificate to the Vice President Director of PT Siemens Kabel Optik, G. Schoeber. The presentation during the cable company's first anniversary took place Monday at Wisma Bank Tiara, Jl. MT Haryono, South Jakarta.

Limits on Chinese business supported

Limits on Chinese business supported JAKARTA (JP): Prominent businessman Sofyan Wanandi supported yesterday a controversial notion that legislation be established to preserve the businesses of indigenous Indonesians by barring Chinese traders from entering certain sectors.

AIDS threatens Asia with grave economic crisis

AIDS threatens Asia with grave economic crisis MANILA (AFP): Asia faces potentially grave economic problems from the Acquired Immune Deficiency Syndrome (AIDS) and must be willing to challenge religious and cultural norms to mitigate them, experts said yesterday.

300 allowed to sit civil service test

300 allowed to sit civil service test JAKARTA (JP): Three hundred civil servant applicants, who did not receive a notification letter from the municipality, were allowed to join yesterday's test despite earlier plans to fail them. The applicants did not receive a test identification number -- and were considered ineligible for the test -- due to a postal service delay, an official said. "The city is trying to be fair to all prospective applicants.

PLN urged to negotiate private power prices

PLN urged to negotiate private power prices JAKARTA (JP): Minister of Mines and Energy I.B. Sudjana ordered state-owned electricity company PLN to renegotiate with private power companies over prices following the rupiah's sharp depreciation against the U.S. dollar, company president Djiteng Marsudi said yesterday. Djiteng said the order was given because PLN could no longer afford private power at prices settled in dollars before the monetary crisis beset the region.

APEC adopts plan for early trade liberalization

APEC adopts plan for early trade liberalization SINGAPORE (AFP): APEC senior officials wound up talks here yesterday by adopting a set of guidelines to identify priority sectors for early trade liberalization at the group's summit in Vancouver, Canada, next month.

Greed, complacency at play in drought, forest fires

Greed, complacency at play in drought, forest fires We have been closely following the effect of the prolonged drought, causing both record crop failures and an unprecedented smog which has enveloped the region. We recently asked Dr. H.S. Dillon, Vice-President of the Asian Society of Agricultural Economists, who served as Assistant to the Minister of Agriculture for many years, to comment on the cause and probable effects of these disasters.

Asian crisis needs fast solution: Rubin

Asian crisis needs fast solution: Rubin NEW YORK (Reuters): U.S. Treasury Secretary Robert Rubin said there is "clearly a serious issue" with respect to financial instability in Southeast Asia that needs to be resolved as soon as possible.

Changwon industries seek investment opportunities

Changwon industries seek investment opportunities JAKARTA (JP): A trade mission from South Korea's industrial city of Changwon has arrived here for a three-day visit to explore investment opportunities. Changwon mayor Kong Min Bae, who was leading the mission, said yesterday he brought along executives from 12 middle-scale manufacturing companies in Changwon.

Qiao purged but still visible

Qiao purged but still visible As Chinese President Jiang Zemin meets President Bill Clinton at the summit in Washington DC, The Jakarta Post Asia correspondent Harvey Stockwin explores the way in which power politics within the Chinese Communist Party is having an unexpected result at home -- and how that realpolitik may have predictable impact on Sino-American relations.

Hopes for next year's coffee crop fading

Hopes for next year's coffee crop fading SINGAPORE (Reuters): No rain fell on Indonesia's parched coffee belt over the past 24 hours and hopes for the 1998 crop are fading fast, dealers said yesterday. "There were no rains overnight," a veteran coffee dealer said. "I think the crop's beyond saving. I don't give it much hope anymore." Traders said the drought spawned by the El Nino weather anomaly had devastated coffee trees in the key growing areas of Lampung, Bengkulu and South Sumatra.

Asian crisis curbs U.S. growth, analysts say

Asian crisis curbs U.S. growth, analysts say NEW YORK (Reuters): An ongoing financial crisis in southeast Asia will probably curb U.S. economic growth, and possibly influence how the Federal Reserve handles monetary policy in the near future, Fed sources and analysts said. "There is undoubtedly going to be some effect from Asian economies slowing a bit on the U.S. economy," a Fed source, who asked not to be named, told Reuters on Monday.

Stock Exchange

Stock Exchange Stock prices on the Jakarta Stock Exchange (in rupiah) on Oct. 28, 1997: Shares Close Change Trading Volume ------------------------------------------------------------ Ades Alfindo 850 -50 89,500 AHAP Insurance 2,500 0 0 Alter Abadi 600 -75 5,000 Alumindo Light Metal 500 -75 37,500 Alumindo Perkasa 300 -100 100,000 Aneka Kimia Raya 600 -25 219,500 Anwar Sierad 625 -125 33,500 Apac Centertex Corp.

Three men tried for trafficking Ecstasy

Three men tried for trafficking Ecstasy JAKARTA (JP): Three men were indicted in the West Jakarta District Court yesterday for trafficking 800 Ecstasy pills with a street value of Rp 23 million (US$6,388). Prosecutor Azwar said the defendants, Darmawan Elius, 23, Fredy alias Andry, 22, and Hendri alias Acing, 21, were arrested in front of Hotel Omni Batavia on Jl. Kali Besar, in Tambora, West Jakarta, on July 7.

Shameful culture

Shameful culture During the recent SEA Games in Jakarta I enjoyed watching several sport events on TV. What attracted me most was the spectators' attitude (of course not all of them) in supporting their country's sportsmen and sportswomen in their struggle to win the games. In the tennis matches, for instance, where the area is relatively small, the spectators are expected to behave decently because the players need a high degree of concentration.

Where to go in Jakarta:

Where to go in Jakarta: Exhibitions * Ceramics Exhibition, Golekan at Bentara Budaya, Jl. Palmerah Selatan No. 17, Jakarta, 10 a.m. to 9 p.m., until Oct. 31. * Painting Exhibition, by Laila Dempster, at Shangri-La, Jl. Jend. Sudirman Kav.1, Central Jakarta, until Nov. 2. * Fine Arts Exhibition: Kelompok C'antique at the Lobby, Sari Pan Pacific Hotel, Jl. MH Thamrin 6, Central Jakarta, 10 a.m. to 8 p.m., until Oct. 30.

Klender traders protest management

Klender traders protest management JAKARTA (JP): Eleven legume traders from Klender market in East Jakarta went to the City Council yesterday to complain about the city-owned market management company PD Pasar Jaya's inconsistency in space allotment. The traders asked councilors from Commission B for economic affairs to urge PD Pasar Jaya to let them operate on the ground floor and basement of the market.

Asian fund not remedy for currency crisis: LGT

Asian fund not remedy for currency crisis: LGT SINGAPORE (Reuters): Setting up an Asian fund to help economies in trouble is not the best solution to the crisis facing the region's financial markets, LGT Asset Management chief economist John Greenwood said yesterday. "I think it's a second best solution," Greenwood told reporters after addressing a conference in Singapore. "The first policy is for the ASEAN countries to adopt appropriate domestic fiscal and monetary policies.

Parents plead to rights body to help free Nasiroh

Parents plead to rights body to help free Nasiroh JAKARTA (JP): A tearful Soleha, the mother of an Indonesian housemaid facing possible execution in Saudi Arabia, pleaded yesterday to the National Commission on Human Rights to help release her daughter. "Please help the government (effort) to set Nasiroh free," Soleha said sobbing. She added she was sure that Nasiroh is not guilty of killing her employer as accused by an Islamic court in Saudi Arabia.

SEA Games stickers

SEA Games stickers From Sinar Pagi The protests voiced on the extension of imposed sales of SEA Games stickers are well founded. After the rejection by the Indonesian Consumers Institute (YLKI), Jakarta's Regional Legislative Council has also objected to the fund raising. Deputy chairman of the legislative council Rusydi Hamka said, "The SEA Games is a project of prestige not a business project.

Hyundai breaks monopoly

Hyundai breaks monopoly SEOUL (AFP): South Korean industrial giant Hyundai Group yesterday obtained approval from a provincial government to jump into the country's monopolized and state-controlled steel industry, the group said. Hyundai Group chairman Chung Mong-Koo signed an agreement with the governor of Kyungnam province, who allowed the group to build a major steel mill in Hadong, near the hometown of President Kim Young-Sam.

S'pore forests to get wild beasts

S'pore forests to get wild beasts SINGAPORE (AFP): Singapore announced yesterday a plan to release indigenous wild animals into its forest reserves to try to revive a natural-born animal population. "The exercise will see the release of some leopard cats, mousedeer and civets at various locations," said Sidek Saniff, senior minister of state for the environment. The experiment next year "aims to repopulate our forests with these indigenous species.

Growth Area to spur development

Growth Area to spur development BALIKPAPAN, East Kalimantan: East Kalimantan Deputy Governor Suwarna hopes that the Brunei, Indonesia, Malaysia, Philippines - East ASEAN Growth Area (BIMP-EAGA) will spur further development in the area and create stronger regional cooperation. Speaking at Monday's opening of the seventh senior officials meeting of the BIMP-EAGA, Suwarna admitted that the cooperation has not yet produced any significant economic results.

Malaysia offers to RI a standby fund: Anwar

Malaysia offers to RI a standby fund: Anwar KUALA LUMPUR (AFP): The US$1 billion which Malaysia has offered to Indonesia is a standby facility to help its neighbor revive its ailing economy, Deputy Premier Anwar Ibrahim said yesterday. "It is not aid," Anwar told reporters. "It is a facility which Indonesia can draw upon when it needs with the aim of boosting confidence in the Indonesian currency and economy and it will be paid back. "It is a Malaysian offer.

Waiting for IMF aid

Waiting for IMF aid We will not be surprised to find out sometime later this week or early next month that the reform measures to be prescribed by the International Monetary Fund-led team as the condition for its financial aid to Indonesia, will not differ greatly from what domestic private-sector analysts, and even several members of the cabinet, have often recommended in the past.

Assembly campaigns for guidelines drafts

Assembly campaigns for guidelines drafts JAKARTA (JP): All five factions in the People's Consultative Assembly (MPR) began yesterday campaigns for their respective drafts of state policy guidelines. Given its majority position in the legislative body, Golkar appears to have the upper hand in its effort to have its draft be accepted by the body.

Public pressure needed for democratization

Public pressure needed for democratization JAKARTA (JP): The ongoing currency crisis may have many adverse impacts, but it also serves as an impetus for greater democratization, a political observer says. Arbi Sanit told a seminar on legal reform here yesterday that should the economic turmoil drag on, it would affect an even greater number of people and force them into reacting in such a way which may inflict pressure on the government.

TV today

TV today TVRI 2:00 p.m. News: Berita 14 2:30 My Country 2:35 TV Series: Big Brother Jake 3:10 Indonesian Children 3:35 Talk Show: Kotak Pos 4:00 Regional News 4:30 Education Quiz: Cepat Tepat 5:10 TV Series: Road to Avonlea 5:55 Music 6:00 News: Lintasan Berita 6:05 The Rainbow 6:15 Village Program 6:30 TVRI News 6:53 Music 7:00 Evening News 7:35 Entrepreneurship Program: Mitra Kita 8:05 TV Drama: Dipersimpangan Jalan 8:30 Documentary: Samudra Kita 9:00 World News 9:30 Music: Panggung Gembira...

Support looms for human rights decree

Support looms for human rights decree JAKARTA (JP): Deputy chairman of the National Commission on Human Rights Marzuki Darusman suggested yesterday that the People's Consultative Assembly (MPR) establish a decree on human rights promotion in response to global demands. Marzuki said the decree would give the international community strong evidence Indonesia affiliates itself with the international rules of the game, which includes the adherence to certain economic norms and an open market.

16 local golfers to play in Tugu Pratama c'ship

16 local golfers to play in Tugu Pratama c'ship JAKARTA (JP): Sixteen Indonesian pro golfers are eligible to play next month in the US$300,000 Tugu Pratama PGA Championship 1997. The Indonesia Golf Association's secretary-general, Taufik Azis, told a press conference yesterday that Kasiadi, Maan Nasim and Ilyasyak, the country's best hopes, are expected to fare well in the championship. Kasiadi, who is placed 31st in the Omega Tour, is expected to finish in the top 10 in the championship.