Indonesian Political, Business & Finance News

Archive: 31 December 1997

56 articles found

Juanda airport to begin expansion project

Juanda airport to begin expansion project SURABAYA (JP): The government is preparing the tender for the expansion of Juanda Airport in Surabaya, East Java. Achmad Hendarmin, an official at the directorate general of air transportation, said yesterday that four potential consortia had proposed to join the tender.

Where to go in Jakarta:

Where to go in Jakarta: Exhibitions * Photo Exhibition: Kilas Balik 97, 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., until Jan. 14. * Painting Exhibition: Impressions of Indonesia by Hetty Ansing at Nusantara Gallery, Jl. Arteri Raya, Paradiso Executive Complex, Central Jakarta, until Jan. 10. * Architectural Photo Exhibition: Space and Time, by Yori Antar, at Galeri TC (Twilight Cafe), Jl.

Disasters rise in S. Kalimantan

Disasters rise in S. Kalimantan BANJARMASIN, South Kalimantan: One-hundred and twenty-six disasters were recorded in South Kalimantan this year, a large majority of which were related to forest fires. "Disasters resulted in material damage exceeding Rp 19.5 billion (US$3.5 million)," said Doyo Pudjadi, head of the disaster division at the local Ministry of Social Services office. The number of fatalities stood at 153.

Rupiah down to 5,500, stock mart index up to 401.71

Rupiah down to 5,500, stock mart index up to 401.71 JAKARTA (JP): The value of the rupiah was down 56.7 percent this year, closing at 5,500 against the U.S. dollar yesterday, while local stock prices dropped 37.3 percent with the main price index closing at 401.71 points. Currency dealers said the rupiah failed to close firm against the dollar on the last trading day of 1997 yesterday because demand for dollars by local companies remained high.

Conversion Rates

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

Thousands use ferries to Bali

Thousands use ferries to Bali BANYUWANGI, East Java: The approaching new year and start of the Moslem Ramadhan month has seen a sharp increase in the number of passengers and vehicles using the ferries from Ketapang Port, Banyuwangi, to Gilimanuk, Bali. The route is the main sea connection between Java and Bali. At least 18,000 passengers traveled on the state-owned ferries last week, a 50 percent increase from previous weeks.

Marsinah still controversial, even in art

Marsinah still controversial, even in art By A. Wisnuhardana YOGYAKARTA (JP): For a state with a coercive apparatus, Marsinah, a worker who died a few years ago because she had fought for her rights, has remained a "pebble in its boot". However small, it is a sharp pebble that keeps prodding the foot. During her life, Marsinah was a fighter for herself and her colleagues, poor workers in a stifling factory.

Presidential poll in Semarang

Presidential poll in Semarang SEMARANG, Central Java: A poll of 625 students at the state Diponegoro University here found that 82.1 percent of respondents believe a change in the national leadership should take place during the plenary session of the People's Consultative Assembly in March. The poll, conducted by the student senate, also collected names of likely candidates to succeed President Soeharto.

Yaohan Malaysia lives alone

Yaohan Malaysia lives alone KUALA LUMPUR (AFP): Yaohan Holdings (M) Bhd. announced yesterday that it would be known as Aktif Lifestyle Corporation Bhd. from January to reflect a change in shareholding and management. Director Johari Low Abdullah said the new name would allow the Malaysian company to be separated from the operations of Yaohan Japan Corporation which had collapsed earlier this year. "We have to move with time.

Inaccurate 'CNN' report

Inaccurate 'CNN' report I was surprised while watching Cable News Network (CNN) on Dec. 10, by Ms. Maria Ressa's report on the haze situation in Southeast Asia and particularly in Indonesia. I was dismayed at the report's inaccuracy which projected an image far from the actual situation. I feel obliged to react strongly, as reporting on such a dramatic subject should be based on actual facts rather than personal opinion. Ms.

China urges S'pore to avoid trouble over Taiwan

China urges S'pore to avoid trouble over Taiwan BEIJING (Agencies): China urged Singapore yesterday to avoid harming bilateral relations but stopped short of demanding that the city state cancel a planned visit by Vice President Lien Chan of Taiwan. "We are seriously concerned about this news and have made representations to the Singapore side," Chinese Foreign Ministry spokesman Tang Guoqiang said when asked to comment on Lien's planned Jan. 1 to Jan. 4 holiday in Singapore.

New insurance scheme for workers unveiled

New insurance scheme for workers unveiled JAKARTA (JP): The government has introduced a new insurance scheme for Indonesians working overseas, in a bid to raise sufficient funds to protect them better in the future. Speaking at a year-end media conference here yesterday, Minister of Manpower Abdul Latief admitted failures in his office's handling of many labor problems in the past. He blamed it on an absence of funds.

Joop Ave appoints new director general

Joop Ave appoints new director general JAKARTA (JP): Minister of Tourism, Post and Telecommunications Joop Ave installed here yesterday Sasmito Dirdjo and Maj. Gen. Djoko Pramono as the ministry's Director General and Inspectorate General, respectively. Dirdjo replaced Djakaria Purawidjaja while Pramono replaced Oentoeng Sarwono. The two outgoing officials have retired.

Scavengers get free wedding

Scavengers get free wedding SURABAYA, East Java: Twenty-nine couples, all of whom work as scavengers, held a mass wedding here Monday. The ceremony was organized by the Surabaya branch of the Moslem Students Association, Antara reported. An association executive, Mahsus, said they held the ceremony as a social service and out of concern at the state of the scavengers, many of whom were living out of wedlock because they could not afford to get married.

Effect of crisis 'to be felt until after March 1998'

Effect of crisis 'to be felt until after March 1998' YOGYAKARTA (JP): The state of the Indonesian economy will remain precarious and the pain of the ongoing monetary crisis will still be felt after the people's representatives have elected a new president in March, a scholar says.

$2.2b in property projects could be postponed in 1998

$2.2b in property projects could be postponed in 1998 JAKARTA (JP): Property projects worth Rp 11.48 trillion (US$2.2 billion) are likely to be postponed next year due to the dragging monetary crisis, property publishing firm Burword Publishing Indonesia has said. Burwood predicted last week that some Rp 18.97 trillion in property projects could probably survive the current crisis and continue next year.

Save Indonesia fund

Save Indonesia fund Two recent letters that appeared in "Your Letters" prompted me to write this letter. The first was Donna K. Woodward's (The President's dedication, Dec. 23) sensitive suggestion that now might be the right moment for the President to withdraw from the stage that he has graced with distinction for 30 years. This is a long time for any man to bear the burden of State, and recent pictures show a tired, old man, who we know not to be in the best of health. Ms.

Ramadhan time for Jakarta

Ramadhan time for Jakarta Wednesday Maghrib 6.13 p.m. Thursday Imsak 4:09 a.m. Subuh 4.19 a.m. Maghrib 6.13 p.m. Friday Imsak 4:10 a.m. Subuh 4.20 a.m.

Megawati calls for national solidarity

Megawati calls for national solidarity JAKARTA (JP): The ousted leader of the Indonesian Democratic Party (PDI), Megawati Soekarnoputri, sent a message to Indonesian Moslems yesterday telling them to use the fasting that begins today as a means to strengthen the solidarity of the nation. In a written statement Megawati reminded people the essence of fasting in the month of Ramadhan was not to merely cease eating and drinking but also a test of one's mental fortitude.

Newsprint prices set after tight negotiations

Newsprint prices set after tight negotiations JAKARTA (JP): The Association of Indonesian Pulp and Paper Producers (APKI) and the Association of Indonesian Newspaper Publishers (SPS) have agreed to cut the new price of newsprint to between US$500 and $505 a ton. Minister of Industry and Trade Tunky Ariwibowo said yesterday that the new prices, which will be effective from Jan. 1 to March 31, were settled after lengthy and tight negotiations.

Declining prices lead to 11% drop in rubber exports

Declining prices lead to 11% drop in rubber exports JAKARTA (JP): The export value of Indonesian rubber was likely to drop 11.25 percent this year to US$1.7 billion from $1.92 billion last year, a government official said yesterday. Minister of Agriculture Sjarifudin Baharsjah said in his year- end briefing that the drop was due to a decline in rubber prices in the world market this year. "What a pity the export value of rubber is not in line with the increase in production volume," he said.

Stock Exchange

Stock Exchange Stock prices on the Jakarta Stock Exchange (in rupiah) on Dec.30 , 1997: Shares Close Change Trading Volume ------------------------------------------------------------ Ades Alfindo 650 -100 10,000 AHAP Insurance 500 50 2,500 Alter Abadi 450 0 0 Alumindo Light Metal 350 50 6,674,000 Alumindo Perkasa 250 0 0 Aneka Kimia Raya 1,200 50 620,500 Aneka Tambang 1,325 0 3,141,000 Anwar Sierad 225 0 235,500 Apac Centertex Corp.

Residents come to blows over trivial issues

Residents come to blows over trivial issues JAKARTA (JP): Life can be cheap in a metropolitan city like Jakarta. A dispute over Rp 200 (4 U.S. cents) or a woman's rejection of sexual advances are sometimes enough to send someone to their grave. The lives of countless city dwellers are snuffed out year after year over such trivial issues. And 1997 was no exception, as illustrated by the following litany of "odd" and "brutal" crimes.

The Korean crisis

The Korean crisis The world's financial community has come to South Korea's rescue -- again. The International Monetary Fund already rode in ostensibly to the rescue once, yet the stock market and currency continued to slide; both lost more than half their value in less than a year. Estimates of economic growth worldwide have been adjusted downward in part to account for South Korea's drag.

Spotlight

Spotlight Photo A: Journalists Suara Pembaruan REACHING NEW DEPTHS: Twenty-four journalists gather after passing the basic diving test conducted by the Navy at Sepa, an islet in the Thousand Islands off North Jakarta. Navy spokesman Commodore Mualimin Santoso (standing, in white long-sleeved shirt) joined graduates and trainers earlier this month.

TV programs

TV programs Today TVRI 2:00 p.m. News: Berita 14 2:30 My Country 2:35 TV Series: Big Brother Jake 3:10 Indonesian Children 3:35 Talk Show: Kotak Pos 4:00 Regional News 4:30 Education Quiz: Cepat Tepat 5:10 TV Series: Road to Avonlea 5:55 Music 6:00 News: Lintasan Berita 6:05 Science Film 6:15 Village Program 6:30 TVRI News 6:53 Music 7:00 Evening News 7:35 Entrepreneurship Program: Mitra Kita 8:30 Variety Show: Menyambut Tahun Baru 1998 9:00 Sport News (1997 Review) 9:45 Music: Panggung Gembira...

Two arrested for cheating

Two arrested for cheating JAKARTA (JP): Police have arrested two men in Tangerang, West Java, for cheating people by asking them to exchange their jewelry for rarely accepted Bolivian dollar bills. City Police spokesman Lt. Col. E. Aritonang said yesterday the two men, identified as Abdurrahman Hasan, 42, and Madehan, 62, had apparently persuaded their victims by using economic principles.

Palm oil prices bubble on Indonesia export ban

Palm oil prices bubble on Indonesia export ban LONDON (Reuters): Prices for palm oil, used extensively in soap and cooking oil manufacture, moved sharply higher on Monday after leading producer Indonesia banned exports for the first quarter of 1998. But elsewhere in commodity markets most prices were drifting lower in very thin between-holiday trading conditions.

Govt told to be open to criticism

Govt told to be open to criticism YOGYAKARTA (JP): A scholar has urged the government to be more receptive to criticism and not maliciously brand critics as antigovernment. The deputy rector of the Indonesian Islamic University, Moh. Mahfud criticized officials for being overly sensitive to criticism and perceiving it as a threat to stability.

For local tea producers, 1997 a bad year

For local tea producers, 1997 a bad year By Sylvia Gratia M. Nirang JAKARTA (JP): This year has been considered a bad year for Indonesian tea, as the output is estimated to drop and the business is facing a land shortage. Executive secretary of the Indonesian Tea Association Moeljono Partosoedarso told The Jakarta Post that Indonesia's tea production was expected to fall sharply by over 20 percent due to this year's severe drought caused by the El Nino weather phenomenon.

Decisive leadership is vital in time of crisis

Decisive leadership is vital in time of crisis Social philosophy professor at Jakarta's Driyarkara School of Philosophy Franz Magnis-Suseno SJ calls on those in power to be ready to make sacrifices to win back public confidence. JAKARTA (JP): While the year 1997 is coming to an end, our economy is tumbling into an abyss. The rupiah's fall through the Rp 6,000 to the U.S. dollar barrier is not only a psychological shock, it is simply economically unsustainable.

Govt raises local call prices, cuts long-distance rates

Govt raises local call prices, cuts long-distance rates JAKARTA (JP): Starting Jan. 1, the rate of local calls will increase 8.7 percent to Rp 125 per pulse while domestic long- distance calls will drop 10.2 percent to Rp 97 per pulse. Minister of Tourism, Post and Telecommunications Joop Ave announced yesterday that as of next year, new fixed-line installation fees would be cut by up to 50 percent, depending on the purpose of the phone.

No Paper

No Paper In observance of New Year's Day, The Jakarta Post will not appear tomorrow. The Post will resume publication on Friday. We wish all our readers a Happy New Year. -- The Publisher

Separatist bomb attack at Thai school kills three

Separatist bomb attack at Thai school kills three BANGKOK (AFP): Three teenagers were killed and 12 injured after a bomb attack by separatists at a school fair in the southern Thai province of Yala, police said yesterday, sparking fears of worsening security in the region. The explosive, planted in a garbage bin, detonated at 7:00 p.m. (7 p.m. Jakarta time) Monday, ripping through the crowds at a fund-raising fair at the Betong Weera Ratprasarn School in Betong district.

Gift package firms, florists avoid wrap-up in downturn

Gift package firms, florists avoid wrap-up in downturn By Lila Fitri Aly JAKARTA (JP): The government's liquidation of 16 banks also kissed goodbye a bountiful source of revenue for one shocked gift package company owner. Fahira Idris, owner of Nabila Parcel in Pejaten, South Jakarta, said all the closed banks were her clients. "One bank would order some 200 packages on special occasions," she said.

Family welfare census to begin in January 1997

Family welfare census to begin in January 1997 JAKARTA (JP): The government plans to conduct a nationwide census on family welfare next year to pinpoint households who are still living below the poverty line. State Minister of Population/Chairman of the National Family Planning Board Haryono Suyono said the census would be used by the government to reallocate its aid for least developed villages.

Businessman to sue minister

Businessman to sue minister JAKARTA (JP): Businessman Sjarief Tando insisted yesterday he would sue Minister of Mines and Energy I.B. Sudjana and his staff over the cancellation of a contract for the development of an office. Tando's lawyer, Greta Noordiana, said her client, the president of PT Petrobuild Indonesia, had decided to continue his lawsuit against the minister despite an amicable settlement offered by the Central Jakarta District Court.

Focusing on leadership change

Focusing on leadership change By Ikrar Nusa Bhakti JAKARTA (JP): In his article, "VP's role to increase in the future" (The Jakarta Post, Dec. 19, 1997) Hermawan Sulistyo provided two scenarios about the role of the president and the vice president for the 1998/2003 term. The first and the most conventional scenario, according to Hermawan, is that in the next five years, Soeharto would run his administration as he has during his previous terms.

Lessons to be learned

Lessons to be learned More than in previous years, Indonesians have reason to ponder the year's events as the nation stands on the threshold of a new year. For many Indonesians, 1997 has brought much that was good and pleasant. By and large, however, most of us will no doubt agree that the year has been the worst since the late 1960s, when chaos reigned while the country was teetering on the brink of bankruptcy.

Governor lends a helping hand to the jobless

Governor lends a helping hand to the jobless JAKARTA (JP): Governor Sutiyoso vowed yesterday to assist the huge number of blue collar workers in the city who have been laid off due to the monetary crisis. The governor promised to hire jobless laborers for projects financed by the city administration, including the regreening, clean river and low-cost apartment projects. "I believe that the unemployment rate here has reached an alarming level and could cause social unrest.

Shopping spree abroad

Shopping spree abroad From Kompas While drought-related diseases were claiming hundreds of lives in Irian Jaya and as the current monetary crisis has worsened, it is highly ironic that a number of Dharma Wanita members within the Ministry of Transportation took a pleasure trip to Thailand spending about Rp 1 billion. There has been speculation that the money was taken from the state's Dharma Wanita funds.

Elnusa to offer shares to the public in 1998

Elnusa to offer shares to the public in 1998 JAKARTA (JP): PT Elnusa, a subsidiary of state-owned oil company Pertamina, plans to offer about 200 million shares to the public next year to raise Rp 300 billion (US$60 million) in fresh funds. Group director of the company Aswad Dipo said proceeds from the initial public offering (IPO) would be used to finance the company's expansion plan and to increase the company's production capacity.

IBM's service

IBM's service The Jakarta Post's "Your Letters" section seems to have become the court of last resort for consumers in Indonesia who cannot get reasonable satisfaction through the channels available within companies. This complaint is with Indonesia's IBM Internet service, otherwise known as IBM NET. IBM began to offer internet/email service in Medan in 1995. When IBM offered a local (Medan) access phone number, many of us signed on with IBM for two reasons.

Japan hails pick of W. Cup cities

Japan hails pick of W. Cup cities TOKYO (AFP): The head of the Football Association of Japan hailed South Korea's selection Monday of 10 cities to host the 2002 World Cup finals. "The organizing committee (for the World Cup), the Football Association of South Korea and other parties concerned made the decision after full consideration, and I am sure it was the best one," said association president Ken Nagamura.

Habibie backs Radius' task force appointment

Habibie backs Radius' task force appointment JAKARTA (JP): A senior cabinet minister lauded yesterday former finance minister Radius Prawiro's appointment as head of a task force to help private sector companies settle their mounting debts. State Minister of Research and Technology, B.J. Habibie, said President Soeharto's decision to assign Radius was wise and correct.

Police have no right 'to probe corruption'

Police have no right 'to probe corruption' JAKARTA (JP): Attorney General Singgih said yesterday that all corruption cases should be investigated by his office and not the police. An agreement cosigned by the Supreme Court, Ministry of Justice, Attorney General's Office and National Police outlines the ruling, Singgih told reporters during a year-end media conference.

India fights to host 14th Asiad

India fights to host 14th Asiad JAKARTA (JP): National Sports Council Secretary-General Rudolf S. Warouw said here yesterday India took its bid to host the 14th Asian Games in 2006 to the Olympic Committee Asia in New Delhi recently. "India's will to host Asiad will be a challenge for Indonesia," Warouw said. Indonesia aims to reach the top four in the 14th Asiad through a long-term training program called the Golden Garuda project. Warouw said Indonesia should host the 14th Asiad.

Latief denies impropriety charges

Latief denies impropriety charges JAKARTA (JP): Minister of Manpower Abdul Latief strongly denied yesterday allegations of financial impropriety, saying that he had earned enough on his own not to have to resort to taking public money. Latief also branded accusations that his ministry illegally collected levies from Indonesian workers to be sent abroad as cruel slander. "I'll be damned. I'm a tycoon, why should I collect levies from workers. It's not true. It's a slander.

RI predicts paltry growth in foreign tourist arrivals

RI predicts paltry growth in foreign tourist arrivals JAKARTA (JP): Foreign tourist arrivals are expected to increase 0.6 percent this year to 5.06 million visitors, the lowest growth in a decade due to the haze problem and the monetary crisis. Minister of Tourism, Post and Telecommunications Joop Ave said yesterday the growth in foreign tourist arrivals would be far below the target. "The country's tourism is suffering. This is not a laughing matter.

Wall Street performance boosts Asian markets

Wall Street performance boosts Asian markets TOKYO (AFP): Asia-Pacific stock markets ended stronger yesterday amid year-end window dressing and easing concerns over South Korea's financial crisis following a strong overnight performance on Wall Street. Posting gains were the stock markets in Tokyo, Hong Kong, Sydney, Kuala Lumpur, Bangkok, Jakarta, Taipei, Shanghai and Auckland. Seoul and Manila were shut for a holiday while interest-rate concerns depressed Singapore.

IMF again comes to the rescue, this time to Asia

IMF again comes to the rescue, this time to Asia Five months after Asian markets were knocked downed by a serious financial flu, the debate over what really happened is still raging. Martin Khor reports for Inter Press Service. KUALA LUMPUR: Depending on who makes the diagnosis, Asia's financial illness is either the result of capitalism gone out of control or the wrong application of the right formula for economic success.

Tax settlement on duty

Tax settlement on duty JAKARTA (JP): All legal suits or appeals on tax matters, starting from Jan. 1, will be handled by the new Tax Settlement Body on Jl. Menteng Raya No. 21, 8th floor, Jakarta 10330, the Ministry of Finance announced yesterday.

Ban on cooking oil export 'necessary'

Ban on cooking oil export 'necessary' JAKARTA (JP): The government's move to ban palm oil exports was made to stabilize cooking oil prices in the local market, Minister of Trade and Industry Tunky Ariwibowo said yesterday. "To guarantee cooking oil supply and prices, all CPO (crude palm oil) and olein products will be directed toward local consumption only for the next three months," he said. The minister said the export ban, which would become effective Jan.

Bank Jakarta's liquidation halted

Bank Jakarta's liquidation halted JAKARTA (JP): The Jakarta State Administrative Court supported yesterday the request of Bank Jakarta to remain open pending a final court verdict in its battle against its closure by the government. "The ministerial decree and the central bank gubernatorial decree have been postponed," presiding judge Lintong Oloan Siahaan said in his ruling on the bank's case against the government.

Indofood not to raise prices

Indofood not to raise prices JAKARTA (JP): The country's largest foodstuff producer, PT Indofood Sukses Makmur, promised yesterday not to increase the prices of its products during the Moslem fasting month that starts today. Indofood's chief executive officer Eva Riyanti Hutapea said in a statement that the prices of noodle products, including Indomie, Supermi, Sarimi and Sakura, and bottled Bimoli cooking oil would remain the same.

'Bird flu' scare prompts govt to ban fowl imports

'Bird flu' scare prompts govt to ban fowl imports JAKARTA (JP): The government has banned imports of poultry, particularly from Hong Kong, to prevent the spread of the deadly "bird flu" virus, which has killed four Hong Kongers and triggered fears of a worldwide epidemic.