Indonesian Political, Business & Finance News

Archive: 11 November 1997

55 articles found

Haze now, acid rain and other problems to come for SE Asia

Haze now, acid rain and other problems to come for SE Asia By Paul Alexander SINGAPORE (AP): El Nio brought the severe drought that turned the forests of Indonesia into tinderboxes. Now it's delaying the arrival of seasonal monsoons needed to douse the raging wildfires that have blanketed Southeast Asia in smoke for weeks.

Pollution-related illnesses baffle health workers

Pollution-related illnesses baffle health workers JAKARTA (JP): The medical community's lack of knowledge about the health hazards associated with air pollution makes it difficult to promote a clean air program, an expert said yesterday. "The doctors' knowledge about problems associated with air pollution is very low so sometimes they make the wrong diagnoses and prescribe the incorrect treatment," Umar Fahmi Achmadi, a health expert from the University of Indonesia, said yesterday.

Pupuk Kaltim keeps title

Pupuk Kaltim keeps title SURABAYA (JP): The pretournament favorite Pupuk Kaltim team, led by world star Denny Sacul, retained the Pahlawan Cup bridge title after beating the Sekayu team 51-28 in the final at the Satelite hotel here Sunday night. Pupuk Kaltim, which also included world beaters Berce Polii and Franky Karwur among its six members, lived up to its favorite status once the two-day event reached the semifinals on Sunday.

Deutsche, BII sign deal

Deutsche, BII sign deal JAKARTA (JP): The Deutsche Bank and Bank Internasional Indonesia (BII) of Sinar Mas Group announced yesterday that they had signed an agreement to launch a charge card "db-Visa Gold" for selected Deutsche Bank clients in Indonesia later this month. The Deutsche Bank said yesterday that the new card was the first charge card it had offered to customers in Asia.

Astra sales rise but profit falls

Astra sales rise but profit falls JAKARTA (JP): Publicly listed automaker PT Astra International announced a 4 percent decline in its consolidated net profit yesterday to Rp 326.89 billion (US$99.05 million) in the first three quarters this year from Rp 340.84 billion in the corresponding period last year. The company's net sales, however, rose 21 percent to Rp 12.13 trillion in the first three quarters from Rp 9.99 trillion in the same period last year.

RI car sales drop

RI car sales drop KUALA LUMPUR (Reuters): Growth in vehicle sales in Indonesia is expected to slow down over the next three years, following the country's economic crisis, Herman Latief, vice chairman of the Association of Indonesia Automotive Industries, said yesterday. Vehicle sales in 1997 are now expected to be around 380,000 compared to an original forecast of 420,000, said Latief. However, this is still be higher than the 331,639 vehicles sold in 1996.

Government pulls plug on live House broadcast

Government pulls plug on live House broadcast JAKARTA (JP): A planned live TV broadcast from the House of Representatives (DPR) of Minister of Finance Mar'ie Muhammad's explanation on the economic reform package, was abruptly canceled yesterday after the government intervened. Two private TV stations -- ANteve and SCTV -- had planned a direct coverage of the plenary session.

Tn. Abang vendors 'must be llegalized'

Tn. Abang vendors 'must be llegalized' JAKARTA (JP): The municipality must legalize street vendors operating in the overcrowded Tanah Abang market in Central Jakarta to simplify control and supervision of the area, councilors said yesterday. Afiff Hamka, a member of Commission E for welfare affairs, told The Jakarta Post that Tanah Abang was problematic because the city had never acknowledged the vendors' existence. "The vendors are treated like they have some kind of disease.

Bus passenger stabbed to death by students

Bus passenger stabbed to death by students JAKARTA (JP): A bus passenger died Sunday after being stabbed by a group of high school students who extorted money from him at the Senen Bus Terminal in Central Jakarta on Saturday. A police source said yesterday that the suspects were students from a nearby technical high school, which is known for its ill- behaved students. "We're still collecting information and evidence," a senior city police officer, who did not want to be named, said.

Army to have new spokesman

Army to have new spokesman JAKARTA (JP): Indonesia's military attache at the embassy in Bangkok, Col. I Gde Putu Arya, has been named as Army spokesman replacing Brig. Gen. Robik Mukav. Army Chief of Staff Gen. Wiranto revealed yesterday that he had already signed the decree for Arya's appointment, but refused to disclose when the new spokesman would start working. "He (Arya) will be installed soon," Wiranto said during a break of a People's Consultative Assembly session.

Prince buys 3% of Proton

Prince buys 3% of Proton RIYADH (Reuters): Saudi billionaire Prince al-Waleed bin Talal bought a 3 percent stake in Malaysian car maker Perusahaan Otomobil Nasional (Proton), the prince's Kingdom Holding Co. said yesterday. "The investment is worth over US$46 million...This investment is the prince's second in the automobile industry," it said in a statement. Proton is a joint venture between the Malaysian government and Japan's Mitsubishi.

Over 1,000 workers dismissed

Over 1,000 workers dismissed SEMARANG, Central Java: More than 1,000 workers have been dismissed in recent weeks in Central Java due to the tough economic situation currently facing many companies. "The layoffs occurred because many of the companies where the workers were employed are having difficulty getting capital to expand their venture," Tambah Sudjio, head of the Central Java branch of the All-Indonesian Workers Union (SPSI), said here yesterday.

Trial to unveil supervision failure

Trial to unveil supervision failure The government's recent move to liquidate 16 insolvent banks has raised concerns. Economist Kwik Kian Gie looks at the consequences of the move in this article. JAKARTA (JP): Bank liquidations are always followed by prolonged problems. Depositors have to wait until after the sales of the liquidated bank's assets before repayment. During this time they are overwhelmed with the uncertainties over whether they will eventually get their money back or not.

Arun's LNG exports reach 169 million tons

Arun's LNG exports reach 169 million tons JAKARTA (JP): PT Arun LNG Co in North Aceh has exported at least 169 million tons of liquefied natural gas (LNG) since its first shipment in 1978, Antara reported yesterday. The company's vice manager Ariffi Nawawi said in Lhokseumawe, North Aceh, after its 3,000th shipment ceremony Sunday, that most of the LNG was exported to Korea and Japan. The 3,000th shipment was carried by the LNG Libra, which shipped the LNG to Senboku Terminal in Osaka, Japan.

Malaysian states face water crisis

Malaysian states face water crisis KUALA LUMPUR (AFP): Two Malaysian states are likely to exhaust their water resources by 2000 and shortages are expected to reach crisis point in 2010, a newspaper reported yesterday. The Sun also quoted Nature Society president Salleh Mohamad Nor as saying that Singapore, which depends on Malaysia for part of its water needs, would have developed all available catchment areas by the end of the century.

ASEAN, EU establish new forum

ASEAN, EU establish new forum SINGAPORE (Reuters): About 500 businesses from Southeast Asia and Europe are expected to schedule around 1,300 meetings over two days during the first ASEAN-EU Partenariat gathering, officials said yesterday. The Partenariat program provides small- and medium-sized businesses with help and information on joint ventures, markets and investments to help smaller companies internationalize.

TV Program: Tuesday, Nov. 11, 1997

TV Program: Tuesday, Nov. 11, 1997 TVRI 2:00 p.m. News: Berita 14 2:30 My Country 2:35 Children's Film: The Big Valley 3:10 Teenager's Program: Remaja Indonesia 3:35 Education Program: Kuliah Universitas Terbuka 4:00 Regional News 4:30 Teenager's Drama: Ika dan Tika 5:00 English Lessons 5:30 Documentary Film 6:00 News: Lintasan Berita 6:05 Nusantara, The Beloved Country 6:15 Village Program 6:30 TVRI News 7:00 Evening News 7:35 Talk Show: Wawasan 8:00 News: Lintasan Berita 8:05 TV Drama: Tamu...

Restart of some projects 'will not undermine reform'

Restart of some projects 'will not undermine reform' JAKARTA (JP): The government said yesterday the resumption of projects previously postponed or reviewed would not undermine governmental efforts to tackle the currency crisis. State Minister of National Development Planning Ginandjar Kartasasmita said yesterday the projects that were resumed were mostly ones which were already underway or those with rupiah financing.

Edible oil maker gets $30m loan

Edible oil maker gets $30m loan JAKARTA (JP): Publicly listed cocoa and edible oil producer PT Cahaya Kalbar has secured a US$30 million syndicated loan from local and foreign banks. A director of the firm, Robertus Sampara Lie, said yesterday about $19 million of the loan, which had a maturity of two years and an interest rate of 1.5 percent above the Singapore Inter Bank Offer Rate (SIBOR), would be used to finance the acquisition of PT Mintawi, another edible oil producer.

Thai currency needs three years to recover: Supachai

Thai currency needs three years to recover: Supachai BANGKOK (AFP): The head of the incoming Thai government's economic team said in remarks published yesterday that it would take three years to tackle Thailand's financial problems and turn the economy around.

Impact of bank liquidations

Impact of bank liquidations From Pikiran Rakyat As we all have learnt, on Nov. 1 the government revoked the business licenses of 16 troubled commercial banks. The government also announced that the customers of these banks could withdraw up to Rp 20 million of their deposits through BNI, BRI and BDN -- temporarily funded by the government -- starting on Nov. 13. In this context, allow me to pose the following questions: What will happen to the customer transactions from Oct.

Environment minister needs 'greater power'

Environment minister needs 'greater power' JAKARTA (JP): State Minister of Environment Sarwono Kusumaatmadja said yesterday that whoever fills his post in the next cabinet should be given greater power to deal with environmental problems. Responding to a call by a member of the House of Representatives, Sarwono fell short of calling for the establishment of a ministry of environment.

Political hurdles still blocking Asian fund

Political hurdles still blocking Asian fund TOKYO (Reuters): Political hurdles still need to be cleared to enable the successful launch of an Asian emergency financial facility to help address financial crises in the region, senior analysts in Japan say.

Pattimura University fights to save 'mermaids'

Pattimura University fights to save 'mermaids' By John Mayaut MALUKU (Antara): A warning has been sounded for the dugong, also called sea cows, the gentle mammal of the Pacific Ocean which may have been the mermaid of fisherman's lore. Dugongs, closely related to the manatee, are now the subject of research and breeding efforts at the Center for Environment Studies of Pattimura University in Ambon.

Remembering Nov. 10, 1945

Remembering Nov. 10, 1945 From Merdeka With the blessing of God the almighty, we celebrated the 52nd anniversary of the proclamation of Indonesia's independence last Aug. 17. We are now in November, a month that is historically significant to the Indonesian nation. The following is a brief description of this historic significance: On Nov. 9, 1945, the commander-in-chief of the Allied Forces, without negotiating with the Indonesian government, issued an ultimatum to the residents of Surabaya.

JSP to sell 50m shares

JSP to sell 50m shares JAKARTA (JP): Publicly listed property developer PT Jakarta Setiabudi Property (JSP) will sell 50 million new shares, or 9.33 percent of its enlarged common stocks, to the public later this year, the company announced yesterday. JSP president Amir Abdul Rachman said the proceeds would be used to refinance the company's short-term debts and to strengthen the company's working capital.

New Thai Prime Minister Chuan working out cabinet

New Thai Prime Minister Chuan working out cabinet BANGKOK (Agencies): Thailand's new government was taking shape yesterday, one day after Democrat Party leader Chuan Leekpai became prime minister, coalition sources and political analysts said. But less than 24 hours after taking the top job, Chuan said he needed time to try to solve the country's economic crisis before calling a new election. "The new cabinet will be able to be announced this week," Chuan told well-wishers at his residence.

Japan wonders if Asian investment backfired

Japan wonders if Asian investment backfired By Miwa Suzuki TOKYO (AFP): An extensive network of factories and joint ventures in Southeast Asia makes it very difficult for Japan to reduce its exposure to the regional financial crisis, analysts say. Unlike the United States, which has much of its money in liquid securities, Japanese corporates are bracing for the long- haul impact as Thailand, Indonesia, Malaysia and others extricate themselves from crisis.

Mangga Dua traders confront City Council

Mangga Dua traders confront City Council JAKARTA (JP): Traders of Mal Mangga Dua in West Jakarta visited the City Council yesterday, complaining about the unfair treatment of the shopping mall's management. Four representatives of 150 traders told members of Commission B for economic affairs that PT Duta Pertiwi recently hiked the monthly management fees from Rp 5,000 (US$1.55) to Rp 12,000 per square meter, plus a 4 percent government tax, without the traders' knowledge.

Assembly regularly makes mistakes, law expert says

Assembly regularly makes mistakes, law expert says JAKARTA (JP): The People's Consultative Assembly is not supposed to establish decrees during its five-yearly general session, a constitutional law expert said over the weekend. Harun Alrasid of the state-run University of Indonesia said the 1945 Constitution did not assign the Assembly to set up second-class laws but top-notch ones, namely the constitution.

Morning flights out of Medan canceled

Morning flights out of Medan canceled MEDAN, North Sumatra: Garuda Indonesia has temporarily canceled all morning flights from Medan to Jakarta because of the haze covering the Polonia Airport in Medan, Antara said. The airlines had virtually canceled both scheduled morning flights -- at 8.40 a.m and 9.40 a.m. -- in the past three weeks because the haze reduced visibility at the airport to dangerous levels.

Stock Exchange

Stock Exchange Stock prices on the Jakarta Stock Exchange (in rupiah) on Nov. 10, 1997: --------------------------------------------------------- Shares Close Change Trading Volume --------------------------------------------------------- Ades Alfindo 800 0 0 AHAP Insurance 2,500 0 0 Alter Abadi 525 -50 1,000 Alumindo Light Metal 500 0 97,500 Alumindo Perkasa 300 0 0 Aneka Kimia Raya 700 0 163,500 Anwar Sierad 500 -75 67,500 Apac Centertex Corp.

Banks 'closed by proper procedures'

Banks 'closed by proper procedures' JAKARTA (JP): The government will not review the closure of 16 insolvent banks because the measure was taken according to proper procedures, Minister of Finance Mar'ie Muhammad asserted yesterday.

Two die of AIDS related illnesses

Two die of AIDS related illnesses SEMARANG: Two people with Acquired Immune Deficiency Syndrome (AIDS) in Central Java have died, the chief of the province's health office said. Both were women who had worked as prostitutes, Sri Astuti Suparmanto told Antara. Astuti said all but one of the 12 people with full-blown AIDS in the province contracted the virus through sexual contact. The other contracted the virus through a blood transfusion, she said.

RI to send bowlers to World Cup

RI to send bowlers to World Cup JAKARTA (JP): The Indonesian Bowling Association is send Lily Suhaimi and Gatot Aryo Nugroho, the 19th SEA Games silver medalists, to the 33rd AMF Bowling World Cup in Cairo from Nov. 15 to Nov. 22. Association chairman Oke F. Supit said yesterday that Asian athletes would be using the championship as preparation for next year's Asian Games. He also said Jakarta would host the first leg of the Asian circuit in March 1998.

S'pore govt goes into plane-leasing business

S'pore govt goes into plane-leasing business SINGAPORE (AFP): Two investment arms of the Singapore government have agreed to take strategic stakes in an aircraft leasing firm which expects more business amid a regional aviation slump, company officials said yesterday. Temasek Holdings and the Government of Singapore Investment Corp. (GIC) agreed to buy a 14.5-percent stake each in Singapore Aircraft Leasing Enterprise (SALE) for $62.5 million apiece, SALE officials said.

Haj instructors reject city's selection process

Haj instructors reject city's selection process JAKARTA (JP): About 2,000 haj instructors staged a rally yesterday, demanding that the municipality revoke its decision to numerically select Jakarta pilgrims. The group, mostly women in Moslem clothing, rejected offers to engage in talks with the head of the religious affairs office, choosing to stand in front of the building on Jl. D.I. Panjaitan in East Jakarta.

Riau relocates heroes' remains

Riau relocates heroes' remains PEKANBARU, Riau: Authorities exhumed the bodies of 18 freedom fighters from various cemeteries and gave them a proper heroes burial, complete with military ceremony, at the Kusuma Bhakti Cemetery in Pekanbaru yesterday, Antara reported. The ceremony coincided with yesterday's national Heroes Day. It was led by Col. Songko Purnomo, chief of the Wirabima military command. The relocation was the initiative of the Executive Council of the Generation of 1945.

Where to go in Jakarta: Tuesday, Nov. 11, 1997

Where to go in Jakarta: Tuesday, Nov. 11, 1997 Exhibitions * Painting Exhibition: Breakaway 1995 by Maud Van Der Lely, Vajaraporn Sukanich, Miryung Muir, Jeannette Bijlmer, at KOI Gallery Restaurant, Jl. Mahakam I/2, Souty Jakarta, daily, 11 a.m. to 11 p.m., until Nov. 16. * Photo Exhibition: Kesaksian Abadi by Hilmar Pabel, at Galeri Foto Jurnalistik Antara, Jl. Antara No. 59 Pasar Baru, Central Jakarta, daily except Monday, 11:30 a.m. to 7:30 p.m., Nov. 11.

Philippines places rice orders ahead of El Nino

Philippines places rice orders ahead of El Nino MANILA (Reuters): The Philippines has placed orders for rice from neighbouring countries in preparation for a shortage due to the El Nino weather phenomenon, a senior official said yesterday. "We have locked in orders for 350,000 tons rice from Vietnam, China, Cambodia and Thailand," National Food Authority administrator Joemari Gerochi told reporters. "But we have yet to peg the price for these orders," he said.

30 racers take part in Mesran junior rally

30 racers take part in Mesran junior rally JAKARTA (JP): Fifteen drivers are set to take part in the Mesran junior rally from Bandung to Jakarta on Nov. 16. Organizer Helmy Sungkar said yesterday that the racers would compete in seven special stages covering a total distance of 140 kilometers from the capital of West Java to the country's capital. "This will be the last junior rally for this year.

Local contractors face bleak future

Local contractors face bleak future JAKARTA (JP): Contractors in the country face a gloomy outlook, as the lack of growth in the property sector could leave many businesses idle for at least the next two years, the Indonesian Association of Contractors has said.

BDNI expects higher amount of loan defaults

BDNI expects higher amount of loan defaults JAKARTA (JP): Publicly listed PT Bank Dagang Nasional Indonesia (BDNI) expects a higher amount of loan defaults this year due to the country's economic crisis. The bank said in a statement yesterday that it had increased its loan loss provision by over 300 percent to Rp 118.2 billion (US$35.81 million) in the third quarter of this year from Rp 28 billion in the corresponding period last year to anticipate a possible increase in nonperforming loans.

Three arrested for theft at Grand Hyatt

Three arrested for theft at Grand Hyatt JAKARTA (JP): Three men have been arrested for allegedly attempting to steal dozens of packs of cigarettes and bottles of imported liqueur from the bar of a five-star hotel in Central Jakarta. City police spokesman Lt. Col. E. Aritonang said yesterday that the men were caught red-handed about 4 a.m. on the Grand Hyatt's fifth floor.

Asian companies will now focus on risk: Survey

Asian companies will now focus on risk: Survey MANILA (AFP): Blindsided by plunging currencies, Asian companies which failed to hedge their foreign currency debts now face funding problems and will have to devote more time to managing risks, a survey released yesterday said. The survey of chief financial officers (CFOs) of 110 firms operating in Asia showed 55 percent of them did not use hedging instruments, according to organizers of a regional conference here.

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. 555/KMK.014/1997, the new conversion rates will be valid for one week, from Nov. 10 to Nov. 16.

Cutline

Cutline Heroes Day JP/alx President Soeharto congratulates Ratna Djoeami (center) who received the Mahaputera Utama medal on behalf of her foster mother the late Inggit Garnasih first wife of former President Sukarno. Inggit married Sukarno in Bandung, West Java, in 1923. At the time Sukarno, then a student, rented a room at her house. She was 12 years older than her husband. They adopted Ratna and Kartika as their daughters.

Envoy's attacker may get jail term

Envoy's attacker may get jail term JAKARTA (JP): A prosecutor urged the Central Jakarta District Court yesterday to sentence a homeless man to two years and five months in jail for extorting money from Palestinian Authority Ambassador Ribhi Awad. Prosecutor Suradi said the defendant, 24-year-old Hariyanto, had served time in jail since 1990 but he did not provide any details on the crimes committed.

PDI urges strengthening of Supreme Court

PDI urges strengthening of Supreme Court JAKARTA (JP): The minority faction Indonesian Democratic Party (PDI) insisted yesterday that the People's Consultative Assembly give the Supreme Court the judicial right to review laws. The bid, however, is being challenged by the other four factions in the Assembly. An Assembly session discussing the issue was left undecided yesterday, pending a lobby to persuade PDI to accept the majority's vote.

Polish doctor drowns in Bali

Polish doctor drowns in Bali DENPASAR, Bali: A Polish doctor drowned at Kuta Beach in Bali, Antara reported yesterday. An official at the Denpasar General Hospital identified the man as Pawlicki Walderma Gerhard, a former director of the Warsaw Hospital. "The body has been embalmed in the morgue. It will be sent to Poland," Gus Sumatra, head of the province's inter-nations service bureau, said. The victim had been swimming when he was suddenly dragged out to sea by the current, Gus said.

Indonesia unprepared for major natural disaster

Indonesia unprepared for major natural disaster JAKARTA (JP): President Soeharto said yesterday that Indonesia does not have the scientific and technological know-how to face severe natural disasters, such as the widespread brush and forest fires and warned that such calamities could compromise the nation's economic stability.

Two married men wanted for rape

Two married men wanted for rape TANGERANG (JP): Local detectives are searching for two married men who allegedly attacked and raped two teenage maids here. "I've instructed the detectives to pursue the two suspects, who might have fled from the city," Tangerang Police chief Lt. Col. Iman Haryatna said yesterday. Iman said the suspects have been identified as Jhoni, 30, the father of one, and Jhoni's cousin Kiki, 35, a father of two.

10,000 jobs on the line, official says

10,000 jobs on the line, official says JAKARTA (JP): Some 50 companies have asked the government for permission to dismiss 10,000 employees because of economic difficulties caused by the monetary crisis and forest fires, a senior Ministry of Manpower official said yesterday. "Most of the companies have asked for the authorization to dismiss their employees," S. Sianturi, director of work rules at the Directorate General of Industrial Relations Counseling and Manpower Control, said.

Siregar may lead RI's Asian Games task force

Siregar may lead RI's Asian Games task force JAKARTA (JP): Sports consultant Mangombar Ferdinand Siregar has been tipped to chair the task force to decide which sports Indonesia will compete in at the 13th Asian Games in Bangkok next December. The National Sports Council's secretary-general, Rudolf S. Warouw, said yesterday that Siregar was the strongest of the three leading candidates. The others are Muhammad Hindarto, the council's athletes development deputy, and Togi M.

Obituary

Obituary Bachrum S. Harahap, the assistant of the Coordinating Minister of Production and Distribution for bilateral and multilateral cooperation, passed away yesterday morning at the age of 59. According to his sister-in-law, Itje, Bachrum's death came as a shock because he was not suffering from any serious ailments. He is survived by his wife and three children. Throughout his career Bachrum was active in international economic cooperation.