Indonesian Political, Business & Finance News

Archive: 3 October 1997

53 articles found

Stock Exchange

Stock Exchange Stock prices on the Jakarta Stock Exchange (in rupiah) on Oct. 2, 1997: Shares Close Change Trading Volume ------------------------------------------------------- Ades Alfindo 1,025 -50 5,000 AHAP Insurance 2,500 0 0 Alter Abadi 750 0 0 Alumindo Light Metal 750 -25 394,500 Alumindo Perkasa 550 0 0 Aneka Kimia Raya 875 -25 791,500 Anwar Sierad 1,125 -50 77,500 Apac Centertex Corp.

Goodyear sees lower sales

Goodyear sees lower sales NEW YORK (Reuter): Goodyear Tire & Rubber Co, the largest U.S. tire maker, said on Wednesday that third quarter sales in Asia dropped due to currency turmoil but were offset by strong sales in the Americas. "The third quarter currency turmoil in Southeast Asia was unexpected and disappointing," chief executive Sam Gibara told Reuters in an interview.

Investment realization this year down: Minister

Investment realization this year down: Minister JAKARTA (JP): The realization of investment approvals in the country will be lower than the initial target due to the currency crisis, State Minister of Investment Sanyoto Sastrowardoyo said yesterday. Sanyoto said investors, especially from overseas, were still enthusiastic about investing in the country's industrial sector, judging from the inflow of investment applications, but many of the investment commitments had not been realized.

Senayan sports complex doubles as shopping mall

Senayan sports complex doubles as shopping mall By Carl Chairul JAKARTA (JP): When the late Indonesian president Sukarno instructed his aides to build Gelora Senayan for the fourth Asian Games 40 years ago, all he had in mind was the largest sports complex in Asia. Over time, tracts of the huge area, originally measuring 280 hectares, have been gradually converted into different business premises such as hotels, shopping malls, office buildings and apartments.

Smoke disaster and our responsibility

Smoke disaster and our responsibility From Media Indonesia President Soeharto has instructed all relevant government agencies to fight the forest fires in Sumatra and Kalimantan. We can now to see these agencies working to come to grips with the disaster. All sides have acknowledged that we were late in handling the problem, so that finally it received worldwide attention.

Thin haze to cover capital Jakarta, Sunda Straits

Thin haze to cover capital Jakarta, Sunda Straits By Edith Hartanto JAKARTA (JP): The National Meteorology and Geophysics Agency has predicted that air quality in the capital and Sunda Straits will be affected by haze in the next two weeks due to the forest fires in Central and East Java.

A logical solution to forest fires

A logical solution to forest fires From Media Indonesia During the past few months, Minister for the Environment Sarwono Kusumaatmadja has been busy trying to solve the problems of forest fires and the resulting thick smog covering parts of Kalimantan and Sumatra. The smog has spread to other areas in the region and some neighboring countries have deemed it necessary to send help to Indonesia to quell the fires.

Students to be mobilized to support Games

Students to be mobilized to support Games JAKARTA (JP): The Ministry of Education and Culture's city office is to proceed with its plan to mobilize students to support the 19th SEA Games. Office spokesman Hadis Hadianegara told The Jakarta Post yesterday that his office had sent schedules of the sports events and venues students and their teachers should attend to the heads of the education and culture offices in the city's five mayoralties.

No need for decree on human rights charter: Golkar

No need for decree on human rights charter: Golkar JAKARTA (JP): Golkar threw a wet blanket yesterday on the motion to have an Indonesian bill of human rights deliberated and adopted as a decree by the People's Consultative Assembly (MPR). Golkar executives pointed out that the principle of human rights protection would be included in its draft of State Policy Guidelines, so it was unnecessary to establish a separate decree on human rights.

Social pressure may lead to teachers' violent behavior

Social pressure may lead to teachers' violent behavior YOGYAKARTA (JP): An observer attributes a recent spate of reported violence in classrooms to social pressure and the changing status of teachers in society. Sociologist Dian Paramita of Gadjah Mada University reviewed a report yesterday about an elementary school teacher in the Central Java town of Pati who burned eight students with a heated nail for failing to do their homework.

Poll shows students' choice of president

Poll shows students' choice of president YOGYAKARTA (JP): A small-scale polling held at Gadjah Mada University showed that 39.1 percent of student respondents want to have a president with an "intellectual background". The poll organizers, from the School of Economics and the Law School, sent out 500 questionnaires to students in 18 faculties at the university. Some 471 forms, or 94.2 percent, were returned to the organizers. Held between Aug. 12 and Sept.

Share prices tumble on currency concerns

Share prices tumble on currency concerns HONG KONG (AFP): Share markets across Asia Pacific tumbled yesterday on the concerns over currency volatility, dealers said. Regional currency traders faced a tough time when the ringgit, rupiah and peso hit all-time lows, taking with them the usually unflappable Singapore dollar to a 39-month low. Shares in Kuala Lumpur, Jakarta and Manila all dropped Thursday in continued uncertainty.

Surjadi hopes Jakarta will become great city

Surjadi hopes Jakarta will become great city JAKARTA (JP): Outgoing Governor Surjadi Soedirdja says he hopes his successor will continue developing Jakarta to become one of the world's great cities, and one where the gap between rich and poor narrows. Surjadi, who was speaking at a farewell gathering with City Hall journalists Wednesday evening, said he acknowledged the difficulty Jakarta faced in becoming both a great and more equal city.

Where to go in Surabaya:

Where to go in Surabaya: Music and Entertainment * Novotel Surabaya Hotel & Suites, Jl. Ngagel 173-175: - Dahana Lounge Bar: Happy Hour at 5:30 p.m. to 7:30 p.m., Los Javados Acoustic music. - Puri Pool Bar: Happy Hour at 5:30 p.m. to 7:30 p.m. - Janggala Restaurant: Indonesia theme night, Friday evening. International theme night on Sunday, Tuesday and Thursday evening. Cultural traditional performance, on Saturday night * Mercure Grand Hotel, Jl.

Where to go in Bali:

Where to go in Bali: Music and entertainment * Nikko Bali Hotel: - Kupu-kupu Amphitheater, Balinese dance performances at 9 p.m. to 10 p.m., Legong Dance, on Tuesday, Joged Bumbung, on Thursday, Ramayana, on Saturday. - Oo Looloos Santap Restaurant presents live music daily except Monday at 9 p.m. to 2 a.m. * Bali Cliff, Pecatu: Frog Dance, Saturday, Balinese Theater, Ramayana Ballet, Monday, Kecak Dance, Tuesday and Saturday, Jegog Orchestra, Friday, Tektekan Calonarang, Sunday, from 8:30 p.m.

Indosat selects vendors

Indosat selects vendors JAKARTA (JP): Three telecommunications equipment giants, Nortel of Canada, Nokia of Finland and Ericsson of Sweden, are competing to be the vendor of PT Indosat's Personal Communication Network (PCN) project. Indosat's president, Tjahjono Soerjodibroto, said here yesterday in collaboration with PT Inti and PT Telkom, his company had set up a consortium which will operate DCS-1800 in the greater Jakarta area by June 1998.

Nation concerned over forest fires, says Soeharto

Nation concerned over forest fires, says Soeharto JAKARTA (JP): President Soeharto reiterated yesterday the country's concern over the ongoing national disaster of fires that were still razing the nation's forests. He also said Indonesia was suffering from a currency turmoil where the rupiah continued to fall against the U.S. dollar. In order to cope with the unfavorable situations, the nation did not have any choice but to work harder to resolve everything that hampered development, he said.

IBM expects lower sales growth this year

IBM expects lower sales growth this year JAKARTA (JP): PT Usaha Sistim Informasi Jaya, distributor of IBM's products and services in the country, expects a lower sales growth this year due to the currency crisis. The company's president Hari Sulistyono said yesterday sluggish cash flows in the last three months had forced the company to revise down the growth target of this year's sales revenue to 38 percent from 25 percent this year.

Haze disaster

Haze disaster From Berita Yudha The haze from forest fires covering part of the country is a cause of great concern. The material loss is incalculable, so is the impact on work and health conditions. The disaster also affects people psychologically. The haze has also reached Malaysia. Our neighbors have shown their generosity by giving a helping hand. This disaster should teach us how to handle nature.

Singapore smog could put a stop to outdoor work

Singapore smog could put a stop to outdoor work SINGAPORE (Reuter): Singapore said yesterday all outdoor work should stop if the smog which had settled over the island republic got any worse. If the Pollutants Standard Index (PSI), which measured the quality of the air, topped 400 then all outdoor work should shut down apart from emergency and essential services, the Ministry of Labor said in a statement.

Hitachi estimates 50% drop in sales

Hitachi estimates 50% drop in sales JAKARTA (JP): PT Hitachi Construction Machinery Indonesia, a heavy machineries producer, expects a 50 percent drop in sales this year partly due to the government's belt-tightening program. A company director, Gunawan Setiadi, said yesterday that the rescheduling of several large-scale projects would significantly reduce the procurement of heavy equipment in the country. This would result in a decline of company sales by over 50 percent, he said.

Rupiah regains strength, stocks weak

Rupiah regains strength, stocks weak JAKARTA (JP): The rupiah sharply recovered yesterday against the U.S. dollar in early trading but weakened in the afternoon on a surge in demand for the greenback. Share prices on the Jakarta Stock Exchange (JSX) lost several points at close in thin trading. Foreign exchange dealers said the rupiah closed at 3,410/20 against an opening of 3,370/90 after hitting a one-day high of 3,350 on heavy sales of one-year forwards by overseas operators.

Kids hospitalized for food poisoning

Kids hospitalized for food poisoning AMBON, Maluku: Almost 270 elementary schoolchildren in the province of Maluku were hospitalized for food poisoning after they ate state-sponsored food supplements, Antara news agency reported Tuesday. The head of Maluku's education department, A. Latupeirissa, said the 268 children from an elementary school in the provincial capital of Ambon were taken to a hospital Monday shortly after eating cooked bananas distributed as a food supplement by the government.

Bank scam mastermind 'has fled abroad'

Bank scam mastermind 'has fled abroad' JAKARTA (JP): The owner of Bank Dwipa and alleged mastermind of a Rp 200 billion (US58.83 million) scam at the bank has fled overseas, according to the police. Bambang Samiono left Jakarta before the Immigration Office banned him from leaving the country, National Police Chief Gen. Dibyo Widodo said Wednesday.

The risky business of bank transfers

The risky business of bank transfers I have been a reader of The Jakarta Post since the day I arrived in Indonesia, hence my decision to send this letter. I am French and my wife, who is pregnant, still lives in Paris. One month ago, I transferred Rp 3,000,000 via BDN to her account in Paris but the money just disappeared. No one at BDN really cared, they claimed that the transfer had been processed.

Subrata leaves post, replaced by Dailami

Subrata leaves post, replaced by Dailami JAKARTA (JP): Dailami was inducted yesterday as the new director general of press and graphic development, a key post overseeing the development of the national press, replacing Subrata. Subrata, 57, was assigned as president of the government printing office. This is the first major post shuffle since R. Hartono replaced Harmoko as minister of information in June.

Surjadi bids farewell to hacks

Surjadi bids farewell to hacks JAKARTA (JP): Outgoing Governor Surjadi Soedirdja bid farewell to City Hall reporters at Putri Duyung Cottage in Ancol, North Jakarta, Wednesday night. During the meeting Surjadi, whose term of office ends Monday, described how much attention he paid to media reports. He said that he often used media reports as official letters for his subordinates to settle problems.

Brunei optimistic in 19th SEA Games

Brunei optimistic in 19th SEA Games As the Southeast Asian Games XIX draw near, The Jakarta Post will run profile of each of the 10 participating countries. The story below is the first of the series. JAKARTA (JP): Despite relatively little preparation for this year's Southeast Asian Games and no great hopes for gold medals, the Brunei Darussalam athletes are optimistic and ready to give their best at the biennial event.

Former athlete beaten to death

Former athlete beaten to death JAKARTA (JP): A former national pencak silat athlete was beaten to death Wednesday night by about 20 people in an apparently unmotivated attack near the Klender market in East Jakarta. The victim was identified as Robinson Hutasoit alias Ucok, 35, a resident of Rawa Bebek, Pulo Gebang in East Jakarta.

Soedirman conferred five stars posthumously

Soedirman conferred five stars posthumously JAKARTA (JP): Armed Forces Commander Gen. Feisal Tanjung presented yesterday a honorary five-star general rank to the late Soedirman, the founding father of the Armed Forces. One of Soedirman's grandsons, Danang Priambodo, received the posthumous award given by the government for the general's outstanding service to the country.

The Listening Post

The Listening Post "Building English Skills Through Newspaper + Radio" Produced by American Language Center in cooperation with The Jakarta Post and Radio Sonora FM 100.9 Mhz * "Men in Black?" growls Mr. Black. "That piece of junk?" Mark Notzon sits up and prepares his defense. Yes, it's a new feature on "The Listening Post" this evening: English-language film reviews, presented on our 8:15 broadcast over Radio Sonora FM100.9.

Coordination of Greater Jakarta development poor

Coordination of Greater Jakarta development poor JAKARTA (JP): The head of the agency in charge of coordinating development programs in Greater Jakarta said yesterday that arduous and time-consuming procedures were causing his organization numerous problems. E. Gunawan, the head of BKSP Jabotabek, said that it was hard for the agency to coordinate programs that came under the simultaneous supervision of the Jakarta and West Java administrations.

Former Thai premier wants quick cabinet reshuffle

Former Thai premier wants quick cabinet reshuffle BANGKOK (AFP): Former Thai premier Chatichai Choonhavan, a key leader of the six-party governing coalition, wants a swift cabinet reshuffle to boost the country's struggling economy, reports said yesterday. Chatichai, who leads the second largest coalition party, the Chart Pattana, was joined by Thailand's army chief in calling for a reallocation of ministerial positions in the wake of a tough no-confidence debate.

Dewi steps to first tee in Indonesian Ladies Amateur Open

Dewi steps to first tee in Indonesian Ladies Amateur Open JAKARTA (JP): Consistent play from the moment she stepped on to the first tee yesterday gave Dewi Suhartati the day's best score, 78, and the lead by two shots after the second round of three in the Indonesian Ladies Amateur Open at Cikarang Golf and Country Club near here. Dewi, from Deli Golf Club, Medan, carded a 40 on the front nine. This included three bogeys, a double bogey on the 8th plus a birdie on the 3rd.

Thailand only expects 90 golds in SEA Games

Thailand only expects 90 golds in SEA Games JAKARTA (JP): Thailand will only target to win 90 gold medals at the 19th SEA Games here next week, an official said yesterday. Thailand's chief-de-mission secretary-general Lt. Col. Ruj Saeng-udom told reporters that normally his contingent only win between 80 and 90 gold medals if the Games are staged outside his country.

Garuda resumes flights of Airbus A-300 B4 fleet

Garuda resumes flights of Airbus A-300 B4 fleet JAKARTA (JP): Garuda's fleet of Airbus A-300 B4s, one of which crashed last week in Sibolangit, North Sumatra, killing all people on board, has resumed operations after a routine inspection. The national carrier's spokesman, Pudjobroto, confirmed yesterday that three of the eight airplanes had resumed their normal operations on the Jakarta-Surabaya (East Java), Jakarta- Denpasar (Bali), and Jakarta-Singapore routes.

RP fights child sex abuse

RP fights child sex abuse MANILA (AP): The Philippines and Australia are completing an agreement to combat the sexual abuse of Filipino children, Australian Ambassador Miles Kupa said yesterday. Australia also intends to strengthen its defense ties with the Philippines and other Southeast Asian countries as it seeks a larger role in the region's defense and stability, he said.

French comic trio uses hijinks in going for laughs

French comic trio uses hijinks in going for laughs By Emilie Sueur JAKARTA (JP): A jacket with a carnation in the buttonhole, a pair of pants, complete with scruffy kneepads, held up by suspenders and a common truck driver's vest: where could this motley fashion arrangement come from but France? The trio from Les Cousins comic troupe presented a dose of Gallic humor last week during the Jakarta Performing Arts Theater International Festival at Gedung Kesenian.

Paying respect to Polar Yanto Tanoto

Paying respect to Polar Yanto Tanoto Polar Yanto Tanoto was a fine gentleman. He spent several years in the remotest parts of this country and made immense contributions toward the industrial development of the nation, in general, and the pulp and paper industry, in particular. It is widely believed that God calls back early those whom he loves. Like everybody else who had an association with him, God also loves him. May his soul rest in peace. D. PRABHAKAR Jakarta

Harmoko elected House speaker

Harmoko elected House speaker JAKARTA (JP): The chairman of the dominant Golkar faction Harmoko was smoothly elected yesterday as speaker of both the House of Representatives and the People's Consultative Assembly (MPR) for the 1997/2002 term. Late yesterday evening, a plenary session of the newly sworn- in Assembly chose Harmoko as their speaker. Nine hundred of the 1,000 members of the Assembly attended the election.

Where to go in Jakarta:

Where to go in Jakarta: Exhibitions * Painting Exhibition: Pesona Alam dan Kehidupan IX by NG. Bana Sembiring, at Balai Budaya, Jl. Gereja Theresia 47, Menteng, Central Jakarta, 9 a.m. to 9 p.m., until Oct. 6. * Painting Exhibition: 9th Exhibition of 10 of the Best by Ceesepe, at the Embassy of Spain, Jl. H. Agus Salim, no. 61, Central Jakarta, 10 a.m. to 8 p.m., until Oct. 10.

Indosat given option to buy 'TPI' shares

Indosat given option to buy 'TPI' shares JAKARTA (JP): Publicly listed international telecommunications provider, PT Indosat, agreed yesterday to buy convertible bonds worth Rp 150 billion (US$45.4 million) issued by PT Cipta Televisi Pendidikan Indonesia (TPI).

Political analysts wary about calls for strong House

Political analysts wary about calls for strong House JAKARTA (JP): Political observers lauded yesterday President Soeharto's call for a strong House of Representatives, but also expressed doubt that it could be achieved under the current political situation. Tomy Legowo of the Centre for Strategic and International Studies said Soeharto's statement came as a positive response to rising public demands for a strong people's representative body.

Gandhi school donates Rp 20m

Gandhi school donates Rp 20m JAKARTA (JP): Gandhi Memorial International School presented a donation of Rp 20 million (US$6,666) yesterday to the Gerakan Orang Tua Asuh (national foster parents movement) in celebration of Mahatma Gandhi's 128th birthday. The school's principal A.P. Singh gave the donation to Mrs. Uga Wiranto, the executive chairwoman of the foster organization. Mrs. Uga, who is the wife of Indonesia Army chief Gen.

Antiterrorism talks to be held

Antiterrorism talks to be held TOKYO (AFP): Japan and the Association of Southeast Asian Nations (ASEAN) will hold a forum to discuss antiterrorism measures in Tokyo next week, the Japanese foreign ministry said yesterday. During the two-day meeting starting Tuesday, Japanese and ASEAN authorities will discuss possible cooperation in case of terrorist attacks in the region, ministry officials said.

Former BI employee sues 'Forum Keadilan'

Former BI employee sues 'Forum Keadilan' JAKARTA (JP): A former officer of state-owned Bank Indonesia, Anthony MT Siregar, is suing the biweekly magazine Forum Keadilan for Rp 11 billion (US$3.23 million) for alleged defamation. The suit is connected to a report in the magazine's Sept. 8 issue in which it wrote that Siregar, while serving on Bank Indonesia's supervision team, received bribes worth hundreds of millions of rupiah.

God Bless to perform in five cities

God Bless to perform in five cities JAKARTA (JP): Rock band God Bless will take the stage after an eight-year hiatus to promote their new album Apa Kabar? (How are you?). Vocalist Achmad Albar, keyboard-player Yocky Suryoprajogo, drummer Teddy Sujaya, bassist Dony Fattah and guitarists Ian Antono and Eet Syahranie begin the five-city tour on Nov. 1 at Tambaksari stadium in Surabaya, according to tour promoter Log Zhelebour. Other stops are Kridosono stadium in Yogyakarta on Nov.

Five people die in boat accident

Five people die in boat accident PALEMBANG, South Sumatra: Five died and four others went missing when a motorboat carrying 48 schoolchildren collided with the Soopanava cargo boat in the Musi River, Musi Banyuasin regency, on Wednesday, Antara reported yesterday. The remaining 39 students survived the accident. Provincial police spokesman Lt. Col. Sardjo Sadjad said the five students who died were from state-run junior high school Mariaya Banyuasin I and Mariana elementary school.

No politics, Belo tells pilgrims

No politics, Belo tells pilgrims DILI, East Timor: Dili Bishop Carlos Filipe Ximenes Belo called on Catholics participating in a pilgrimage to Mt. Ramelau next Sunday and Monday not to engage in any political action. "We're hoping that the spiritual pilgrims, especially the youth of East Timor, do not fall into the trap of brutal and political action during the pilgrimage," Belo was quoted by Antara as saying yesterday.

Mike Cunning takes first lead in Singapore

Mike Cunning takes first lead in Singapore By Bobby Allen Wilson SINGAPORE (JP): American Mike Cunning took the first round lead today in the US$200,000 Yokohama Singapore PGA Championship at Raffles Country Club and promptly admitted that his record in Asia drove him crazy. The 39 year old from Phoenix, Arizona, fired a six-under-par 66 at Raffles Country Club to lead the Omega Tour event by one stroke from Thailand's Thammanoon Sriroj and Australian Grant Dodd.

New rates set for tax payment

New rates set for tax payment JAKARTA (JP): The government announced yesterday new official conversion rates as the basis for payment of import duty, value added tax on goods and services, sales tax on luxury goods, export tax and income tax. According to the Minister of Finance Decree no.493/KMK.014/1997, the new conversion rates will be valid for one week, starting Oct. 1. Previously, the rates were valid for three months.

Greed proves costly for two female shoplifters

Greed proves costly for two female shoplifters JAKARTA (JP): Two women, one of whom is an elderly housewife, have been arrested for allegedly stealing 10 pairs of children's pants at Plaza Tomang Tol store in Kalimalang, East Jakarta. City Police Spokesman Lt. Col. E. Aritonang said yesterday that 62-year-old Ika Sukarsih and Emmy alias Eem, 37, were caught red-handed by a store security guard with the clothes in their possession.

Germany 'rediscovers' all that Indonesia has to offer

Germany 'rediscovers' all that Indonesia has to offer By Bruce Emond JAKARTA (JP): When people ask German Ambassador to Indonesia Dr. Heinrich Seemann what Indonesia is really like, he tells them to look out of the windows in his office at Jl. MH Thamrin's vibrant skyline. "This is the Indonesia I know," he said. "It is not merely the images of paddy fields in Bali that most Germans think of.