Indonesian Political, Business & Finance News

Archive: 20 December 1997

56 articles found

Wall Street snag hits Asian stocks

Wall Street snag hits Asian stocks TOKYO (AFP): Most Asia-Pacific stock markets ended lower Friday, with sentiment hit by declines in Tokyo and New York, in the climax to another volatile week's trading. Uncertainty following the election of opposition veteran Kim Dae-jung as South Korea's new president was another dampener. Tokyo fell 5.2 percent, Seoul 5.1 percent, Hong Kong 3.2 percent, Singapore 1.2 percent, Sydney 1.4 percent and Taipei 2.0 percent.

Rupiah, stock market continue to stabilize

Rupiah, stock market continue to stabilize JAKARTA (JP): The rupiah stabilized against the U.S. dollar at the 5,000 level yesterday, while the stock market barely closed higher. Currency dealers said the rupiah was hovering between 4,950 and 5,300 throughout the day on ample liquidity in a thin market. Spot rupiah closed at 5,000/5,200 in Jakarta against an opening of 5,200/5,300.

UPM-Kymmene defends link APRIL

UPM-Kymmene defends link APRIL HELSINKI (Reuters): Finnish forest industry group UPM-Kymmene defended on Thursday its alliance with Indonesian paper maker APRIL against environmental groups insisting that it pull out of cooperation with the Southeast Asian group. "The sharing of best practices and transfer of knowledge will ensure that ... development is carried out to the highest environmental standards," UPM officials told a news conference.

UN envoy arrives in East Timor

UN envoy arrives in East Timor DILI, East Timor: Jamsheed Marker, the United Nations Secretary-General's special envoy for East Timor, arrived at the Komoro Airport here yesterday for a two-day visit. Accompanied by UN senior political advisor Samuel Tamrad and two officials from the Indonesian Foreign Ministry, Marker and his party immediately called on East Timor Governor Abilio Jose Osorio Soares upon arrival. Marker last visited the province in March.

Passengers caught with marijuana

Passengers caught with marijuana JAKARTA (JP): Tanjung Priok Port police have arrested two ship passengers arriving from Tanjung Pinang, Riau, for allegedly possessing 5.4 kilograms of marijuana, police said yesterday. Chief of the port police, Lt. Col. Edy Kuncoro, said the two were arrested Wednesday at about 3 p.m. soon after they disembarked from the passenger ship Umsini, which plies the Tanjung Pinang-Jakarta route.

Jamsostek explains

Jamsostek explains In response to Mr. Johni Hutabalian's letter in the Dec. 17 edition of The Jakarta Post titled "Labor Insurance" (from Kompas), we would like to give the following explanation: 1. Government Regulation No. 14 of 1993 determines the insured amount for participants in the state-owned social security company's occupational accident insurance, life insurance, retirement funds and health insurance. 2.

City to hold cheap bazaar

City to hold cheap bazaar JAKARTA (JP): About 300 traders will offer a wide variety of merchandise for attractive prices in a three-week bazaar starting Tuesday at the National Monument park in Central Jakarta. Deputy Governor for Economic and Financial Affairs Harun Al Rasyid said the bazaar, locally known as Pasar Murah (cheap market), is designed to provide cheap goods to Jakartans celebrating Christmas, the Ramadhan fasting month and Idul Fitri holidays.

DRAFT BUDGET SUBMISSION:

DRAFT BUDGET SUBMISSION: Setneg President Soeharto (right) greets Coordinating Minister for Economy and Finance Saleh Affif, while Minister of Industry and Trade Tunky Ariwibowo looks on.

SilkAir releases names

SilkAir releases names JAKARTA (JP): SilkAir released this morning the names of 37 passengers believed to be on board flight MI-185. These were the names on the passenger manifest that had been cross-referenced with their relatives. They are: 1. Godfrey, Mr 2. Godiva, Miss 3. Koh Beng Yam 4. Lejla, Kabadaja 5. Lauw Bonho 6. Lay Helena 7. Pang Swee Gan 8. Perdana Yan 9. Sundari Elly - Bisnis Indonesia journalist 10. Shee Kok Chong 11. Tjeu Tjong Tjan, Mr 12. Wirawan Winniem, Mrs 13.

Sahid, Peony sign deal

Sahid, Peony sign deal JAKARTA (JP): PT Peony Blanket Industry Indonesia, an Indonesian-Japanese company, has appointed PT Sahid Detolin Textile (Sadetex) as the sole agent to market its acrylic and fire-proof blankets in Indonesia and in the Asia-Pacific region. Under a deal signed by the two companies here yesterday, Sadetex, a hotel interior textile and linen maker of the Sahid Group, would market the blankets equally in the designated areas.

RI wins 21 golds in women's Games

RI wins 21 golds in women's Games JAKARTA (JP): Indonesia won 23 golds and 17 silvers in the Islamic countries women's solidarity sports championships in Teheran which ended yesterday. Indonesia's last medals were won by the country's badminton and table tennis athletes, who contributed five golds. Indonesia won 13 golds from swimming, two from shooting and three from track and field.

Neneng, Ade win President, Tien Cups

Neneng, Ade win President, Tien Cups JAKARTA (JP): Ade Purwaji from Jakarta and Neneng K from Bandung won the 29th President and Tien Soeharto Cups respectively at the Matoa Nasional golf course in Ciganjur, South Jakarta, Thursday. Ade, who competed under the banner of the Sawangan golf club, scored a net total of 134 (68-66) or 10-under-par, and won after a sudden-death playoff against K. Agung Indrawan, Abdul Rochim and Sarmili, in the playoff.

Stock Exchange

Stock Exchange Stock prices on the Jakarta Stock Exchange (in rupiah) on Dec. 19, 1997: Shares Close Change Trading Volume ---------------------------------------------------------- Ades Alfindo 650 0 0 AHAP Insurance 400 0 0 Alter Abadi 400 0 0 Alumindo Light Metal 200 0 1,649,500 Alumindo Perkasa 250 0 0 Aneka Kimia Raya 725 0 120,000 Aneka Tambang 1,225 100 9,411,000 Anwar Sierad 225 0 13,000 Apac Centertex Corp.

Govt won't appoint minister to take over Soesilo's post

Govt won't appoint minister to take over Soesilo's post JAKARTA (JP): President Soeharto will not appoint a new minister to replace Coordinating Minister for Political Affairs and Security Soesilo Soedarman who died Thursday, a senior minister said yesterday. Minister/State Secretary Moerdiono said that ministers under Soesilo's supervision would take turns presiding over a monthly limited ministerial meeting on political and security affairs.

Newmont prepares mine

Newmont prepares mine JAKARTA (JP): PT Newmont Nusa Tenggara announced yesterday its Batu Hijau copper and gold mine site in Sumbawa, West Nusa Tenggara, is set to begin operations by the middle of 1999. The company's director of government relations and community affairs, Sutan Simanjuntak, said the site would be able to mine 270,000 ounces of copper and 550,000 ounces of gold annually.

Sustaining economic growth in Indonesia

Sustaining economic growth in Indonesia By Ali Wardhana The following article is based on a paper presented at the conference on "Sustaining Economic Growth in Indonesia: A Framework for the 21st Century" held Dec. 17 by the United States Agency for International Development, the University of Indonesia's School of Economics and the American Committee on Asian Economic Studies.

Demolition of illegal houses to continue

Demolition of illegal houses to continue JAKARTA (JP): The municipality is to continue demolishing illegal houses in slum areas and along riverbanks despite the festive season, an official said yesterday. Deputy Governor for Administrative Affairs Abdul Kahfi said: "The city will not, I repeat, will not stop its program of cleaning up riverbanks along the 13 rivers in Jakarta.

Conversion Rates

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

EU industrialists back trade barrier removal

EU industrialists back trade barrier removal JAKARTA (JP): Industrial representatives of the European Union (EU) supported yesterday the proposal for the need of removing trade barriers on exports from Indonesia and other Southeast Asian countries to Europe. Martin Bangemann, a member of the European Commission of the EU, said yesterday that the EU industrialists strongly backed the proposal to review barriers against exports from Southeast Asia.

Leniency plea for worker facing death

Leniency plea for worker facing death JAKARTA (JP): South Sulawesi provincial administration is trying to save the life of a local man, Sainal Abidin, who was recently sentenced to death by a Malaysian court for murdering a fellow worker, Antara reported yesterday. The administration has sent a letter to the Indonesian ministers of home affairs and foreign affairs notifying them that Sainal, from Pangkep regency, is on death row in Sandakan Penitentiary, in Sabah, Malaysia, according to H.

N. Jakarta fire kills two people

N. Jakarta fire kills two people JAKARTA (JP): Two teenagers died while trying to extinguish a blaze which destroyed 162 houses on Jl. Bandengan Utara, in Penjaringan district, North Jakarta, yesterday afternoon. Witnesses said that the victims, identified as Ervan, 14, and Wahyu, 19, were electrocuted by electrical cables on the roof of a building. Their bodies were taken to Cipto Mangunkusumo General Hospital for a postmortem examination.

A simple life

A simple life From Media Indonesia The economic crisis hitting a number of Asian countries, including Indonesia, has increased my concern about the future of the nation. With the declining value of the rupiah, various basic commodities will increase in price. The crisis is also reducing the opportunity to expand the range of work. If the government and public do not make changes in policies and lifestyles, the problems will continue for a long time and will only get worse.

Govt will not cut officials' salaries

Govt will not cut officials' salaries JAKARTA (JP): The government will not cut the salaries of its top officials including ministers and other civil servants as part of austerity measures to cope with the currency crisis, a minister said yesterday. "Each country, each government has its own way of expressing their concern.

Officials reiterate Soeharto's warning on currency crisis

Officials reiterate Soeharto's warning on currency crisis JAKARTA (JP): Cabinet ministers and officials climbed on the bandwagon yesterday after President Soeharto warned people not to fish in murky waters by taking advantage of the currency crisis. Minister/State Secretary Moerdiono, Army Chief of Staff Gen. Wiranto, Chairman of the Supreme Advisory Council Sudomo and Minister of Information R. Hartono separately expressed their support of Soeharto's warning.

Holiday Inn takes over Aquila Prambanan hotel

Holiday Inn takes over Aquila Prambanan hotel JAKARTA (JP): PT Bakrieland Development of the Bakrie Group has selected Holiday Hospitality of the United States to manage, support and market the Holiday Inn Yogyakarta, a newly re-branded hotel in Yogyakarta previously called the Aquila Prambanan. Under three agreements signed by the two companies here yesterday, Holiday Hospitality, which has set up its Indonesian- based subsidiary Holiday Inn Indonesia BV, would operate the hotel for 10 years.

Kasino, ex-envoy Harjono die

Kasino, ex-envoy Harjono die JAKARTA (JP): Noted comedian Kasino Hadiwibowo of the famed Warkop DKI trio died of a brain tumor Thursday evening at the Cipto Mangunkusumo hospital here. He was 47 years old. Kasino was buried yesterday in his family's cemetery in Bogor, West Java. He is survived by a wife, Amarmini (Meike), and two daughters, Hana, 21, and Larasati, 10. Born in the Central Java town of Gombong on Sept.

All feared dead in SilkAir crash

All feared dead in SilkAir crash JAKARTA (JP): A SilkAir Boeing 737-300 airplane crashed yesterday north of Palembang, South Sumatra. All 104 people on board are feared dead. Initial reports from rescue teams late yesterday evening said they had found no survivors. Gopi Bala, SilkAir's manager in Indonesia, would not comment on whether there were any survivors. "It is dark and the search and rescue is still being conducted.

Taufik comes 7th in world chess c'ships

Taufik comes 7th in world chess c'ships JAKARTA (JP): Indonesia's Taufik Hallai failed to grab a silver medal and had to be satisfied in the 7th place in the world youth chess championships at Cannes, France which ended Thursday. Taufik's final total was 7.5 Victory Points following his defeat against Iljin Artiom of Russia in the final round. He lost on the 36th move after an Indian Nimzo opening. Taufik was competing in the championship's 10-years-of-age category.

NEXT store opens at Mega Pasaraya

NEXT store opens at Mega Pasaraya JAKARTA (JP): PT Mitra Adiperkasa, the franchise holder of NEXT products in Indonesia, opened yesterday a NEXT store in Mega Pasaraya in Blok M, South Jakarta, an executive said. Soetrisno, director of PT Mitra Adiperkasa, said that the new store, which was launched by Minister of Manpower Abdul Latief, is aimed at meeting a rising demand for quality clothing. He said the new store in Mega Pasaraya is the company's fourth in the country.

Gadjah Mada University, Yogyakarta's pride

Gadjah Mada University, Yogyakarta's pride By Sri Wahyuni YOGYAKARTA (JP): Gadjah Mada University celebrated its 48th anniversary yesterday and while it's not the oldest college in the country, it is certainly a constant source of pride for residents of this Kota Pelajar (students' city). It is, for instance, among colleges with the highest number of good quality courses.

Drug, alcohol tests for intercity bus drivers

Drug, alcohol tests for intercity bus drivers JAKARTA (JP): All intercity bus drivers working during the festive season will have to undergo a series of tests before getting behind the wheel in a bid to prevent reckless driving, the City Land Transportation Agency announced yesterday. The head of the agency's violation and supervision subdivision, Oriyanto, said that testing will start today at the city's four major bus terminals.

Legal rift

Legal rift From Merdeka It is hard to understand why the police, amid the grave monetary crisis and other assorted national problems, has suddenly arrested several public prosecutors for alleged wrongdoing. Inevitably, this incident has given rise to several interpretations. Among these are that something concealed from the public has occurred in the relationship between the police and the Attorney General's Office, such as the unequal distribution of fees, or another type of misunderstanding.

S&P downgrades ratings of 3 firms

S&P downgrades ratings of 3 firms JAKARTA (JP): Standard & Poor's (S&P) announced yesterday it had downgraded three Indonesian corporations' credit ratings following the weakening of their credit quality and their ability to meet short-term obligations. The three companies downgraded were property developer PT Mulialand, and petrochemical companies PT Polytama Propindo and PT Tri Polyta Indonesia. The Melbourne branch of the U.S.

Chuan to reduce overseas posts

Chuan to reduce overseas posts BANGKOK (AFP): Thai Prime Minister Chuan Leekpai has asked the Foreign Ministry to downsize its overseas posts as part of a government-wide initiative to cut spending, reports said yesterday. Chuan urged the ministry to cut back on staff at Thai embassies as part of an austerity drive during the country's worst economic crisis in decades, a report in The Nation said.

Rights draft fails to focus on basic tenets

Rights draft fails to focus on basic tenets JAKARTA (JP): A member of the National Commission on Human Rights has criticized the People's Consultative Assembly's draft decree on human rights protection for failing to focus on the basic tenets of human rights. Marzuki Darusman said a number of more essential rights should have been included rather than those which are currently contained such as the right to development, to worship, and to have a family.

Thai rice prices up on RI, China demand

Thai rice prices up on RI, China demand BANGKOK (Reuters): Thai rice prices shrugged off the weaker baht to move higher this week, boosted by deliveries to China and Indonesia, traders said yesterday. There were some new orders from the Asian region and Africa, and the market was still eyeing a possible deal with Manila for Thailand to sell 100,000 tons of rice to the Philippines, traders said. Talks between Thai commerce officials and their Philippine counterparts have yet to conclude.

Dengue related deaths down by 50 percent

Dengue related deaths down by 50 percent JAKARTA (JP): During the past year, 466 Indonesians died of dengue, or 2.1 percent of the 22,568 reported cases of the contagious disease, a health official has said. The director general for the Prevention of Communicable Diseases, Dr. Hadi M. Abednego, said in a seminar here Thursday that the number was more than a 50 percent decrease from the 1,234 reported deaths in 1996. The mortality rate in 1996 was 2.7 percent with 45,548 dengue cases recorded.

First heart transplant in KL

First heart transplant in KL KUALA LUMPUR (AP): Malaysia's first heart transplant was performed successfully on a 51-year-old male, the National Heart Institute of Malaysia announced yesterday. The four-hour operation, carried out by a team of 17 specialists, on Thursday culminated two years of preparation including experimental transplants on 11 sheep, the official news agency Bernama reported.

NTT farmers seek greener pastures

NTT farmers seek greener pastures KUPANG, East Nusa Tenggara: Unproductive land, and not the dense population, is the main reason why many from East Nusa Tenggara (NTT) join the transmigration program, said Minister of Transmigration Siswono Yudohusodo. "The program is aimed at raising the income of farmers," Siswono said here Thursday.

Dollar demand, the bane of Asian central banks

Dollar demand, the bane of Asian central banks SINGAPORE (Reuters): Asian central bankers are scrounging to meet corporate demand for U.S. dollars and the pressure is unlikely to abate in the near-term, financial analysts said yesterday. Central banks are desperately trying to stop their local currencies from falling but their task is no longer fighting speculators, the battle now is simply providing the dollars that their corporate sector needs.

History lessons

History lessons Donna Woodward has written a clear and important analysis of corruption in Indonesia, the powerful conclusions of which really ought to give pause to people doing business here in their most unguarded moments. However, to arrive at those conclusions, she has had to ride roughshod over centuries of history. First off, she refers throughout to "Indonesia" and "Indonesian" culture (complete with a "village mentality") as somehow singular items.

Branches blast PPP's wait and see stance

Branches blast PPP's wait and see stance YOGYAKARTA (JP): The United Development Party (PPP) has come under fire here for falling short of expectations that it would unveil in its recent leadership meeting its presidential candidate for the 1998/2003 term. Deputy secretary of PPP's provincial office here, Suwandi D.S., protested the party executives for deferring the job of announcing the candidate for the top post, to chairman Ismail Hasan Metareum.

Six killed in Manila explosion

Six killed in Manila explosion MANILA (AP): An explosion at an illegal factory making fireworks for New Year's Eve killed six people and critically injured two others, police said yesterday. It was the ninth explosion of fireworks materials this year in Bulacan province north of Manila, officials said.

Where to go in Jakarta:

Where to go in Jakarta: Exhibitions * Painting Exhibition: Pameran Akbar Seni Lukis '97 by Yayasan Pembela Tanah Air (YAPETA) at Diamond room, President Hotel, Jl. MH. Thamrin, Central Jakarta, until Dec. 24. * Painting Exhibition by I Made Djirna at Mon Decor Gallery, Jl. Gunung Sahari Raya No. 1, Blok B.13-14, Central Jakarta, 10 a.m. to 8 p.m., until Dec. 24.

ADB brings X-mas cheer to South Korea, Thailand

ADB brings X-mas cheer to South Korea, Thailand MANILA (AFP): The Asian Development Bank (ADB) brought Christmas cheer to two ailing regional economies, announcing yesterday it approved a loan of US$4 billion to South Korea and 300 million dollars to Thailand. ADB President Mitsuo Sato told a news conference the loan to South Korea was the "single largest loan" approved by the Manila- based bank in its 30-year history of helping developing Asian nations.

State budget to be unveiled next month

State budget to be unveiled next month JAKARTA (JP): President Soeharto will propose the 1998/1999 draft state budget to the House of Representatives on Jan. 6, a senior minister said yesterday. Minister/State Secretary Moerdiono said the government would stick to its balanced budget principle. The budget's composition and amount would also reflect the ongoing monetary contagion. "The President underlined that next year's budget must be realistic...

Inco boosts nickel output

Inco boosts nickel output JAKARTA (JP): Publicly listed nickel producer PT International Nickel Indonesia (Inco) has revised its production target for 1998 to 100 million pounds of nickel in matte. The amount is eight million pounds more than its initial target, since the company resumed the operation of its hydropower plant.

Russian rafters to test Jambi river

Russian rafters to test Jambi river JAMBI: A Russian rafting team will try to ride the famous Batang Merangin river in Sorolangun Bangko, Jambi, on Jan. 1 in a tourist promotion campaign. Zainul Imron, district chief of Sorolangun Bangko, said the Russian team would observe and study the river's conditions to make a promotion brochure on the river as a venue for rafting.

Transparency vital to restore trust: Aburizal

Transparency vital to restore trust: Aburizal JAKARTA (JP): Chairman of the Bakrie Group, Aburizal Bakrie, said yesterday that Indonesia should improve transparency in politics, economics and the corporate level to restore foreign investors' confidence in local corporations. Speaking on the group's restructuring, Aburizal said such transparency was needed to attract more foreign investment, including in portfolio, which had evaporated.

Soesilo's death causes deep grief for lifters

Soesilo's death causes deep grief for lifters JAKARTA (JP): Many Sportsmen and women felt extreme sorrow on hearing the news of Soesilo Soedarman's death. He was the chairman of the Indonesian Weight lifting, Power lifting and Body building Association. Soesilo, who was also the coordinating minister for political affairs and security, died Thursday having suffered lung disease complications for the past three weeks.

Police criticize clinic raid by residents

Police criticize clinic raid by residents JAKARTA (JP): Local residents were castigated yesterday for interfering in a police investigation and removing vital evidence from a clinic in Central Jakarta which allegedly performed abortions. Central Jakarta Police chief Lt. Col. Imam Haryatna said some residents had apparently broken into the clinic before a police raid Wednesday and removed the admission books, which are vital to the police probe.

Pedophile case being investigated

Pedophile case being investigated JAKARTA (JP): The National Police are still investigating a report about alleged sexual offenses against young boys in Indonesia committed by a Swiss man who was arrested recently in his country. National Police deputy spokesman Col. Bambang Haryoko said yesterday that his office had also been waiting for confirmation from the National Central Bureau (NCB) at Interpol whether or not the institution had been contacted by Swiss authorities about the case.

Nepalese begs court to spare him from death

Nepalese begs court to spare him from death JAKARTA (JP): A Nepalese man charged with smuggling 1.3 kilograms of first-grade heroin has begged South Jakarta District Court not to give him the death penalty. Budhe Tamang, 23, told the court Wednesday that his visit to Indonesia was intended to cure a serious lung illness and that, at first, he had no idea about the heroin.

TV today

TV today TVRI 2:00 p.m. News: Berita 14 2:30 My Country 2:35 TV Series: The Crystal Maze 3:10 Teenager's Program: Vokal Group 3:35 Tour and Travel: Wisata Nasional 4:00 Regional News 4:30 Sports 5:30 TV Series: Full House 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 TV Drama: Perjalanan Berharga 8:05 Music: Dibalik Kreasi 9:00 World News 9:30 Comedy: Pemburu Hantu 10:30 Late News 10:40 TV Drama: Gema Tabura Program 2...

Working capital needed

Working capital needed Optimism has been expressed by the government, specifically by the Ministry of Industry and Trade, that this year's export target of US$43 billion can be reached given the growth rate of Indonesian exports is still the highest in the East Asian region. Such optimism is supported by the fact that the depreciation of the rupiah against the U.S. dollar this year has already reached 130 percent, which makes this country's exports more competitive in the world market.

Students join poll on presidency

Students join poll on presidency YOGYAKARTA (JP): More than 9,500 students from Gadjah Mada University voted Thursday on whether they wished to see the renomination of President Soeharto for another term. To the disappointment of a horde of waiting reporters and students the organizers canceled yesterday's planned announcement of the result twice.