Indonesian Political, Business & Finance News

Archive: 16 December 1997

59 articles found

Tourism plan for Serangan may have environmental cost

Tourism plan for Serangan may have environmental cost By Putu Wirata DENPASAR (JP): Close on the heels of controversies surrounding giant sculptures and a tourist project in Tanah Lot, development plans for Serangan Island, a 10-minute motor boat ride from Benoa port in Bali, have raised another wave of local ire. Hindu followers had traditionally relied on boats to cross a kilometer of brackish water before entering the courtyard of the Sakenan temple for the Kuningan rite on Serangan.

Fossil found in Central Java

Fossil found in Central Java BOJONEGORO, Central Java: A 27-year-old from Drajat village, in Bojonegoro, has found fossilized bones he believes may be of a prehistoric animal while digging in a paddy field. "At first we thought they were just regular animal bones, but after looking at them further we became curious and reported it to village officials," said Purwanto as quoted by Antara. Three triangular shaped fossils were found.

Monetary crisis

Monetary crisis From Merdeka The monetary crisis experienced by Indonesia is different from that experienced by other countries. Indonesia's monetary crisis did not strike suddenly but was caused by some factors relating to government policies that were introduced as far back as 1970.

ASEAN frees up tourism, other service sectors

ASEAN frees up tourism, other service sectors KUALA LUMPUR (AFP): Trade ministers of the Association of Southeast Asian Nations (ASEAN) signed documents here yesterday implementing an agreement to open up the regional services market, starting with the tourism industry. They signed a protocol, with effect from March 31, 1998, implementing a 1995 framework agreement which gives fellow members of the group preferential treatment in market access to their services sectors.

ASEAN: What next for business?

ASEAN: What next for business? By Sofjan Wanandi This article is based on a paper presented at the Private Sector Salute to ASEAN's session in Kuala Lumpur yesterday. KUALA LUMPUR: ASEAN at 30 is an exciting prospect. As an association, a grouping of Southeast Asian nations, it has grown and matured. At 30, the most important development is its membership expansion. Soon, perhaps by the middle of next year, all 10 Southeast Asian nations will be in ASEAN.

ASEAN vision

ASEAN vision The informal summit marking the 30th anniversary of the Association of Southeast Asian Nations (ASEAN) which winds up in Kuala Lumpur today is a historic milestone for the regional group. It is a time not only to look back at its achievements -- which are plenty -- but an opportunity to look to the future, to set forth a new vision for the region.

Tirtamas to give IT services

Tirtamas to give IT services JAKARTA (JP): The widely diversified Tirtamas Group yesterday launched PT Infomas Sistama, a company to provide information technology services to local firms. The group's chairman, Hashim Djojohadikusumo, said at the launching that the company's range of services would include the operation of bank call centers and network centers, credit card processing, information technology and internet banking.

Govt to help export companies

Govt to help export companies JAKARTA (JP): The government has decided to allocate Rp 3 billion (US$600,000) in cheap loans to help export-oriented small and medium companies and cooperatives. The credit scheme, offered by state-owned social security firm PT Jamsostek, started on Dec. 1 and aims to help organizations bolster their export capacity.

Many people detect cancer late

Many people detect cancer late JAKARTA (JP): A medical expert urged people to have regular checkups for the early detection and treatment of cancer. Director of Dharmais Cancer Hospital, Riwayat S, said here yesterday most people visit the hospital only to find that their cancer has already entered a critical stage. "As a result, about 25 percent of the patients can not be cured," Antara quoted him as saying. He said early detection means a greater chance of recovery.

Forest fires cause Rp 132b in losses

Forest fires cause Rp 132b in losses JAKARTA (JP): Forest fires have destroyed more than 165,000 hectares of forest in the country this year, causing an estimated loss of Rp 132 billion (US$26.4 million), Minister of Forestry Djamaludin Suryohadikusumo said yesterday. But Djamaludin said this does not include the immeasurable ecological damage such as destroyed habitats and forest ecosystems.

Thailand warns of make-up dangers

Thailand warns of make-up dangers BANGKOK (AFP): Thai authorities have warned that certain brands of cheap cosmetics sold in markets and grocery stores could contain mercury and cause kidney failure or even death, the Bangkok Post reported yesterday. The Food and Drug Administration (FDA) has banned 21 dangerous products found on sale in the country, and has set up a hot line offering rewards for consumers who inform authorities if they find them in the shops.

ASEAN orders study to conserve foreign exchange

ASEAN orders study to conserve foreign exchange KUALA LUMPUR (Reuters): Southeast Asian leaders yesterday ordered a study into a possible regional payments system that would help member states conserve foreign exchange and protect against a financial crisis.

China to talk financial cooperation with ASEAN

China to talk financial cooperation with ASEAN KUALA LUMPUR (Agencies): China, which has long declared itself immune to the Asian financial crisis, reversed its position yesterday and signaled it was now ready to play a greater role in helping end the turmoil. Sheltered from the storm that has shaken much of East Asia, China announced its change of tack on the sidelines of a 12- nation East Asian summit here.

Vendors clash with officers at Senen market

Vendors clash with officers at Senen market JAKARTA (JP): Dozens of sidewalk vendors operating in Senen market in Central Jakarta clashed yesterday with public order officers, who were assigned to reorganize the market. The vendors refused to comply with an order that they relocate to the fourth floor of the market building. They insisted on staying on the first floor, saying no buyers would go to the fourth floor.

Stock Exchange

Stock Exchange Stock prices on the Jakarta Stock Exchange (in rupiah) on Dec. 15, 1997: Shares Close Change Trading Volume ------------------------------------------------------ Ades Alfindo 650 0 0 AHAP Insurance 400 -225 500 Alter Abadi 400 0 0 Alumindo Light Metal 175 0 965,000 Alumindo Perkasa 275 0 0 Aneka Kimia Raya 700 -25 83,500 Aneka Tambang 825 -125 1,096,500 Anwar Sierad 225 0 13,000 Apac Centertex Corp.

Pakistan sink archfoe India in Champions Trophy

Pakistan sink archfoe India in Champions Trophy SHARJAH (Reuters): Opener Saeed Anwar hit 104 off 128 balls to lead Pakistan to a four-wicket victory over India Sunday in the Champions Trophy. Set 240 to win by India, Pakistan hit 243 for six in 47.2 of the allotted 50 overs. Pakistan, which lost to West Indies in its opening match, now plays England which won its first two matches in the four-team tournament.

Human rights

Human rights From Jayakarta Many circles, including in the government, are still reluctant to commit themselves to upholding universal human rights, under the grounds that the universal human rights concept is biased and oriented toward Western liberalism. But if we study it carefully, the UN Declaration on Human Rights and its improvements made through the UN mechanism has accommodated the aspirations of Western countries, socialist countries and developing countries alike.

TV today

TV today TVRI 2:00 p.m. News: Berita 14 2:30 My Country 2:35 TV Series: The Big Valley 3:10 Teenager's Program: Remaja Indonesia 3:35 Music: Pop Songs 4:00 Regional News 4:30 Science and Technology 5:00 English Lessons 5:30 Documentary Film 6:05 Nusantara, The Beloved Country 6:15 Village Program 6:45 TVRI News 7:00 Evening News 7:35 Talk Show: Wawasan 8:00 News: Lintasan Berita 8:05 TV Drama: Riam Blang Kulam 9:00 World News 9:30 Sports: Arena dan Juara 10:30 Late News 10:40 Film: Matlock...

China considers aid to RI

China considers aid to RI KUALA LUMPUR (AFP): Chinese Foreign Minister Qian Qichen said yesterday that China was still considering financial assistance to Indonesia following similar aid extended to Thailand. Speaking at an ASEAN business conference, Qian said China was "very much concerned" by the plight of Southeast Asia. "China sympathizes with the efforts made by Southeast Asian countries to overcome the economic crisis," he said. "China has contributed its share to IMF packages.

Govt to create labor intensive job program

Govt to create labor intensive job program JAKARTA (JP): President Soeharto has ordered the provision of labor intensive projects, especially in Jakarta and Surabaya, to enable unskilled workers to earn an income in the lead up to Christmas, New Year and the Islamic fasting month Ramadhan. The President said blue-collar workers are suffering from the severe economic turmoil as many projects, especially in the construction sector, have had to be stopped due to the companies' cash flow problems.

Where to go in Jakarta:

Where to go in Jakarta: Exhibitions * Painting Exhibition: 7 Gradasi, by Basuki Rahardjo, IPP Yasa, Jean Marcia T, Mary Rumawas, Sony Marsono, Soetarjo and Widarto, at the Lobby, Hotel Indonesia, Jl. MH Thamrin, Central Jakarta, 9 a.m. to 9 p.m., until Dec. 20. * Painting Exhibition: Impressions of Indonesia by Hetty Ansing at the Nusantara Gallery, Jl. Arteri Raya, Paradiso Executive Complex, Central Jakarta, until Jan. 10.

A realistic state budget

A realistic state budget Minister/State Secretary Moerdiono has appealed to everyone in business, government and the media to exercise restraint and not to exaggerate controversial issues in order to boost people's confidence in the rupiah. This is indeed most important because, despite the fact that the rupiah has, according to observers at both home and abroad, already reached a level that is lower than might reasonably be expected, the fall is still continuing.

PPP executives talk on Soeharto's renomination

PPP executives talk on Soeharto's renomination JAKARTA (JP): Unsettled debates forced executives of the United Development Party (PPP) yesterday to extend by another day their deliberation on candidates for president and vice president.

Growth in manufacturing sector expected to drop

Growth in manufacturing sector expected to drop JAKARTA (JP): Indonesia's manufacturing sector will grow only by about 7 percent this year, far lower than 11 percent in 1996, partly due to the impact of the ongoing monetary crisis, says an economist. The executive secretary of the Institute for National Development Studies, Umar Juoro, said here yesterday the industrial sector faced many challenges that would continue to hamper its growth this year and next year.

Expatriates reluctant to buy RI property

Expatriates reluctant to buy RI property JAKARTA (JP): State Minister of Agrarian Affairs/Chairman of the National Land Agency Soni Harsono said yesterday the government needed to improve its property regulations to encourage foreigners to buy property in the country. Soni said the government had issued 1996 Regulation No. 41 which allowed foreigners to buy property in the country, but foreigners were still reluctant to make purchases.

Irian Jaya's infant mortality rate high

Irian Jaya's infant mortality rate high JAYAPURA, Irian Jaya: Vice Governor Basyir Bachtiar expressed concern yesterday at the higher-than-the-national-average mortality rate of children under five in the province. Basyir attributed the high infant mortality rate, to the poor health conditions in the province.

Woman killed in sea battle

Woman killed in sea battle SABAH, Malaysia (DPA): A Filipino woman was killed in a battle at sea between a boat loaded with illegal immigrants and the Malaysian marine police off the coast of Sabah state, a police spokesman said yesterday. Deputy Superintendent Abdul Rahman Hamzah said the dead woman had been identified as Aimah Tajuli, 45. Two others injured in the shootout were the boat skipper Rashid Abbas, 50, and a 15-year-old girl, Erbina Aisali, he said.

MasterCard sees no fall in credit card use

MasterCard sees no fall in credit card use JAKARTA (JP): MasterCard International said yesterday that transactions with credit cards in Indonesia have remained high despite the monetary crisis. MasterCard's director for member relations and marketing in Indonesia Bambang Gunawan said the company had not yet seen any decline in transaction volume and card applications.

Southeast Asia cries for help

Southeast Asia cries for help KUALA LUMPUR (Agencies): Southeast Asian leaders called on the United States, Europe and Japan yesterday to join an urgent international campaign to end the region's financial crisis, but they stopped short of saying what type of aid was needed. Leaders of the nine-member Association of Southeast Asian Nations (ASEAN) said an emergency global drive was needed to restore stability to currency markets, Reuters reported.

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.621/KMK.014/1997, the new conversion rates will be valid for one week, from Dec. 15 to Dec.21. Previously, the rates were valid for three months.

Nine missing in boat accident

Nine missing in boat accident KALABAHI, East Nusa Tenggara: Search and rescue teams are still hunting for nine people missing after a motorboat accident near Alor Island Saturday which may have claimed as many as 10 lives. KM Ave Maroa was carrying 23 passengers when it capsized due to large waves. One body has been found and the missing nine are believed dead. (yac)

Indonesia puts vision of ecotourism into focus

Indonesia puts vision of ecotourism into focus By Stevie Emilia JAKARTA (JP): Plenty has been said and written about the advantages of tourism for economic benefits, or as a sustainable and nonpolluting industry. But there is ample evidence that tourist projects which only focus on gaining profits without encouraging local participation are less likely to provide benefits to the local community and safeguard the environment.

Legislator urges wthdrawal of $80b in overseas savings

Legislator urges wthdrawal of $80b in overseas savings JAKARTA (JP): House of Representatives legislator Theo Sambuaga called yesterday on Indonesians with savings abroad to withdraw their overseas funds to help domestic investment during the economic turmoil. Theo said the funds, which he estimates at US$80 billion, could be disbursed to save national industries which were now on the brink of closure. "Local industries must go on.

Rupiah falls to 5,800, stocks drops 7.2 percent

Rupiah falls to 5,800, stocks drops 7.2 percent JAKARTA (JP): The rupiah and local stock prices continued their uncontrolled free falls yesterday due to weak regional currencies and lingering unfounded rumors, dealers and stockbrokers said. The rupiah, which opened at 4,900/5,100 against the U.S. dollar in the spot market, fell almost 16 percent to a record low of 5,800 against the U.S. dollar and closed at 5,600/5,900.

Govt urged to improve credibility

Govt urged to improve credibility JAKARTA (JP): World Bank country director for Indonesia Dennis de Tray urged the government and private sectors again yesterday to provide credible information to help restore public confidence in the country's economy. Speaking at a seminar on Indonesia's macro economy, De Tray said the government needed to issue a strong and quick sign of its implementation of reform measures to cope with the currency turmoil.

ASEAN unfolds its vision for the 21st century

ASEAN unfolds its vision for the 21st century KUALA LUMPUR (Reuters): ASEAN leaders yesterday issued their vision of the nine-nation group in the 21st century, but the harsh economic realities of 1997 overshadowed their immediate dream of the future. The seven-page ASEAN Vision 2020 calls for an outward-looking Association of Southeast Asian Nations (ASEAN), living in peace, stability and prosperity in a dynamic, caring community.

S'pore, RI remain top picks: Fraser-AMMB

S'pore, RI remain top picks: Fraser-AMMB SINGAPORE (Reuters): After a decade of sustained growth, Asian economies are set to consolidate in 1998 with Southeast Asia to bear the brunt of the slowdown, but Singapore and Indonesia remain Fraser-AMMB's top picks in the region equities markets. "Singapore still remains our top pick in the region," Fraser- AMMB Research said in a paper received by Reuters on Sunday.

Oldest stamp goes on show

Oldest stamp goes on show MATARAM, West Nusa Tenggara: The oldest stamp in the world, a second edition print of an 1840 stamp from The British Stamps, is on display here this week at the West Nusa Tenggara Philatelic exhibition. The 157-year-old stamp is part of a collection owned by Achmad Makkawi who lives in Bali. He purchased the stamp at an auction in Jakarta in 1990 for Rp 50 million (US$10,000).

The best for the president

The best for the president From Forum Keadilan The next gathering of the People's Consultative Assembly (MPR) in 1998 will be interesting to follow. We will have to produce a leader who can represent the country according to the demands of the 21st century which compel active participation in the globalization process. Pak Harto has given the Indonesian people self-confidence to enter the 21st century.

Asian currencies tumble as volume shrinks

Asian currencies tumble as volume shrinks SINGAPORE (Reuters): Shrinking year-end liquidity coupled with corporate demand for dollars drove several Asian currencies to fresh lows yesterday even though the South Korean won -- the instigator of recent regional woes -- recovered. Dealers said liquidity was shrinking as players wound down for the end of the year, causing bid/offer spreads to double or even quadruple.

Four firms to launch ABS

Four firms to launch ABS JAKARTA (JP): The Capital Market Supervisory Agency (Bapepam) has received applications from four private Indonesian companies to launch asset-backed securities (ABS) into the local capital market. Bapepam chairman I Putu Gede Ary Suta said yesterday that the four firms would be the first companies to float asset-backed securities on the local stock exchanges.

Six years for raping deaf girl

Six years for raping deaf girl JAKARTA (JP): West Jakarta District Court sentenced three men to six years in jail each yesterday for gang raping a 16-year-old deaf and dumb girl. Presiding judge Sumantri said the defendants -- identified as Abdurrahman alias Jangkung, 18; Abdurrahman alias Oman, 18; and Matsani, 21 -- were found guilty of raping Siti Balqis in a cassava field in Kedoya, West Jakarta, on March 16.

Pakistani held over heroin

Pakistani held over heroin JAKARTA (JP): Undercover police officers have apprehended a 45-year-old Pakistani for possessing 70 grams of heroin at the immigration department's quarantine center on Jl. Peta Selatan, Kalideres, in West Jakarta. City Police Spokesman Lt. Col. E. Aritonang said yesterday the suspect, retired soldier M. Khalid Mahmood, was busted Sunday at the center, where he had been detained for having incomplete documents to enter Indonesia.

Bintang's lawyers threaten court boycott

Bintang's lawyers threaten court boycott JAKARTA (JP): Lawyers representing politician Sri Bintang Pamungkas have threatened to boycott the State Administrative High Court following the court's refusal to hear witnesses in the suit against Minister of Education and Culture Wardiman Djojonegoro. One of Bintang's lawyers, Munir, said the letter of protest would be submitted to the supervisory judges at the State Administrative High Court.

Yen sinks against dollar

Yen sinks against dollar LONDON (AFP): The yen hit a five-year low against the dollar in trading on European markets early yesterday after new slides in Asian currencies and a report highlighting a drop in Japanese business confidence. In early trades here, the dollar rose to 131.33 yen in London (130.43 yen) but slightly down from the closing rate of 131.35 in Tokyo. The German mark rose to 74.04 yen from 73.56 at the end of trading last week. "Asia continues to collapse ...

Councilor opposes water hike plan

Councilor opposes water hike plan JAKARTA (JP): A city councilor urged the municipality yesterday to postpone its plan to increase water tariffs in line with a proposal by city-owned drinking water company PDAM Jaya. The council's speaker, Edy Waluyo, said putting up the price would further burden residents during the monetary crisis.

OECD pessimistic in light of Asian turmoil

OECD pessimistic in light of Asian turmoil PARIS (Reuters): The OECD, in a key economic forecast, predicts that the current Asian markets turmoil could cut growth in the world's major developed economies by as much as one percentage point. It said Japan's economy is stuck in a rut, and few could tell reliably from one day to the next what is happening to its beleaguered Asian neighbors. The Organization for Economic Cooperation and Development, in a report intended for publication on Dec.

Prevention is key in reducing abortions

Prevention is key in reducing abortions By Mely G. Tan JAKARTA (JP): "Every child is a wanted child". This is the ideal. This is the norm. This is how it should be. This is also in line with the Convention of the Rights of the Child, proclaimed by the United Nations and signed and ratified by practically all the member countries of this world organization, including Indonesia, only a few years ago. However, what is the reality?

Organda wants 50% rise in bus fares during holidays

Organda wants 50% rise in bus fares during holidays JAKARTA (JP): The city's Organization of Land Transportation Owners (Organda) has asked the municipality to approve a 50 percent rise in intercity bus tariffs around Idul Fitri. Association chairman Aip Syarifuddin told reporters yesterday that members considered the proposal to be fair and necessary to meet increases in levies and bribes, which usually jump during the holiday season.

Thief with sense of humor

Thief with sense of humor JAKARTA (JP): A thief who stole Rp 800,000 (US$145) from a trader last week in the Central Java town of Kudus left a note of apology and invited the victim to see him if she wished to do so. The mugger identified himself as Teguh, who lived in Dersalam village in the same town, but police have found the claimed identity fake, the Suara Karya newspaper reported.

On Jamsostek

On Jamsostek The Jakarta Post's Dec. 5, 1997 edition ran with the headline: Soeharto ordered bill funding, followed by: "Minister of Manpower Abdul Latief said yesterday that it was President Soeharto who ordered the use of state-owned social insurance company PT Jamsostek's funds to finance the deliberation of the manpower bill." Etcetera.

Papan starts Internet banking

Papan starts Internet banking JAKARTA (JP): Publicly listed Bank Papan Sejahtera, a unit of the Tirtamas Group, has started online banking services via the Internet. Bank Papan president Al Njoo claimed that his bank became "the first Indonesian bank website with transactional capacity, making it a true online banking facility".

Future cabinet ministers 'must be professionals'

Future cabinet ministers 'must be professionals' JAKARTA (JP): President Soeharto's former close aide, Rudini, said yesterday that only professional ministers should be included in the 1998/2003 cabinet lineup. He declined to say whether members of the current cabinet were not professional, but said skillful and knowledgeable ministers would be able to produce good and achievable policies.

Fire victims get compensation

Fire victims get compensation JAKARTA (JP): The board of directors of Bank Indonesia, the central bank, has decided to compensate the relatives of the victims killed in the Dec. 8 fire, which engulfed one of its new towers, an official said yesterday. Haryono, one of the directors, said that the compensation was given to the victims regardless of their status.

Conversion Rates

Conversion Rates Jakarta (JP): Bank Ekspor Impor Indonesia's (Bank Exim) conversion rates on Dec.

Suu Kyi urges ASEAN to push for changa in Myanmar

Suu Kyi urges ASEAN to push for changa in Myanmar BANGKOK (AP): Myanmar's pro-democracy leader Aung San Suu Kyi sent a message to Southeast Asian leaders as they gathered yesterday for a summit that their interests would be best served by an end to military rule in her country. "Without political change, I do not think there will be stability in Myanmar nor will there be sustainable economic development," Suu Kyi said in a message released in Bangkok by a human rights group.

Lack of knowledge drives rupiah down

Lack of knowledge drives rupiah down The rupiah continued its freefall against the U.S. dollar last week due to rumors about President Soeharto's health. Economist Kwik Kian Gie discusses the public attitudes concerning the rupiah's fall. Question: The value of the rupiah fell further to Rp 5,250 against the U.S. dollar last Friday. Were you anxious about that? Answer: I was not anxious about the fall of the rupiah because it did not reflect the real condition of our economy.

Food crisis spreads in Maluku

Food crisis spreads in Maluku JAKARTA (JP): The number of villages facing food shortages in Southeast Maluku increased from the reported 130 last week -- affecting 81,845 people -- to 149 villages, Antara reported yesterday. The news agency quoted Poli Davids, an official at the local social services office, as saying yesterday that 149 out of 424 villages and subdistricts in the regency had been reported to be facing food shortages due to the long drought.

Marsinah play banned in Lampung

Marsinah play banned in Lampung BANDAR LAMPUNG, Lampung: A play about slain labor activist Marsinah has again been banned, with police announcing yesterday that the show scheduled to go on the Cultural Park here this evening cannot go ahead. Antara quoted the head of the Intelligence directorate of the Lampung police, Lt. Col. Tri Mulyo, as saying that the decision to prohibit the play was made at a joint meeting of relevant security bodies.