Indonesian Political, Business & Finance News

Archive: 9 December 1997

59 articles found

RP police arrest kidnap suspects

RP police arrest kidnap suspects MANILA (AFP): Philippine police have detained 26 suspected kidnappers and an accessory, officials said yesterday, easing pressure on the government after a wave of abductions brought warnings of capital flight. The weekend arrests followed the sacking of national police chief Recaredo Sarmiento Friday, when President Fidel Ramos ordered the police to "get results".

Where to go in Jakarta:

Where to go in Jakarta: Exhibitions * Painting Exhibition: by Diego Menendez, an Argentinean in Indonesia, at Duta Fine Arts Foundation, Jl. Kemang Utara 55A, South Jakarta, daily at 10 a.m. to 7 p.m., Sunday and Monday at 11 a.m. to 4 p.m., until Dec. 23. * Collector's Art, Haute Couture and Precious Gems, the 2nd Anniversary of Galeria Grand Hyatt at Plaza Indonesia, Jl. MH. Thamrin Kav. 28-30, Central Jakarta, until Dec. 10.

Impack to sell 50m shares to the public

Impack to sell 50m shares to the public JAKARTA (JP): Plastics producer PT Impack Pratama Industri will sell 50 million new shares, 30.33 percent of its total common stocks, to the public early next year, the company announced yesterday. Impack's president, Haryanto Tjiptodiharjo, said the company's shares, each with a par value of Rp 500, would be sold at a price earnings ratio of between 7.4 and 7.9 times their 1998 earnings per share forecast.

Maan to take on champ Els in Super Tour opener

Maan to take on champ Els in Super Tour opener By Robert Soelistyo CIMANGGIS, West Java (JP): Local golfing hope Maan Naasim, who tops the domestic money list, will challenge defending champion Ernie Els from South Africa in the opening round of the Johnnie Walker Super Tour tees off at Emerarlda Golf and Country Club here this morning. "I realize it will be a daunting job to try to crack a world beater like Ernie.

Sports program on TV

Sports program on TV Referring to the sports programs on TV, the more I see the less I understand the behavior of Indonesian networks whose worrying attitude of subjection toward the consortium retaining the control of sports information is at least disconcerting. The sentence selamat menyaksikan (enjoy the game) said by the Indonesian commentators at the beginning of a soccer match represents the "key of surrender" which practically means: "Now it's your turn.

RI pursues world order in diplomacy

RI pursues world order in diplomacy The following article is based on a paper presented by Foreign Minister Ali Alatas at the inaugural meeting of the Indonesian Council on World Affairs in Jakarta on Dec. 2, 1997. This is the first of two articles. JAKARTA: Indonesian diplomacy was born and immediately began to function in the crucible of a revolutionary struggle to defend and preserve the independence that our founding fathers proclaimed on Aug. 17, 1945.

Minister denies his wife traveled on state expenses

Minister denies his wife traveled on state expenses JAKARTA (JP): Minister of Transportation Haryanto Dhanutirto vehemently denied yesterday that his wife, Dit Haryanto, had enjoyed a shopping spree in Bangkok at the state's expense. "It's nonsense. No state or Dharma Wanita money was used. They were spending their own money," he said as he was surrounded by reporters during a break at a hearing of the House of Representatives here yesterday. "Ibu Dit did not go (to Bangkok).

Second hospital to sell shares

Second hospital to sell shares JAKARTA (JP): Graha Medika Hospital will float its shares on the local stock exchange to raise funds to finance debts and new medical equipment. The company said yesterday it would sell 55 million new shares or 28.41 percent of its total enlarged capital to the public early next year. The company will be listed on the Jakarta and Surabaya stock exchanges to become the country's second listed hospital operator after PT Siloam Gleneagles Health Care (SGHC).

BI employees shocked by fire

BI employees shocked by fire JAKARTA (JP): The fire that gutted the top floors of one of Bank Indonesia's new 25-story twin towers in Central Jakarta killing 15 people yesterday was described by most employees there as a horrible inferno. Hundreds of employees were working in the building when the fire started and many said it would not be easy to extinguish the nightmare from their memories.

Pertamina to focus on its core business

Pertamina to focus on its core business JAKARTA (JP): The state-owned oil and gas company Pertamina stated it would no longer inject equity funds into its subsidiaries so that it could focus on its core business. "We have stopped injecting capital into them (the company's subsidiaries).

Minority factions urge bureaucratic reforms

Minority factions urge bureaucratic reforms JAKARTA (JP): The United Development Party (PPP) and the Indonesian Democratic Party (PDI) factions in the People's Consultative Assembly joined forces yesterday to support a motion on bureaucratic reforms. But they are facing an uphill battle -- if not on the brink of defeat -- because the dominant Golkar and its two traditional allies rejected the bid.

Currency and supply to dominate palm markets

Currency and supply to dominate palm markets KUALA LUMPUR (Reuters): Southeast Asian palm oil markets are expected to take their cue from regional currencies this week, with tight supply seen supporting the Indonesian market, traders said. Indonesian traders said crude palm oil was in short supply because of an export rush ahead of the December 1 implementation of quotas on exported palm oil.

Phone bills to be mailed

Phone bills to be mailed JAKARTA (JP): State-owned telecommunications company PT Telkom will start mailing telephone bills to customers in Jakarta in February, an official said yesterday. Dadad Koestiwa, the company's operations and marketing director, said mailing bills to South Jakarta customers was aimed at improving services and was being handled by PT Datakom Media Perdana.

ADB grants $240m in loans to Indonesia

ADB grants $240m in loans to Indonesia MANILA (Reuters): The Asian Development Bank (ADB) said on Monday it has approved a total of US$240 million in cheap loans to improve the infrastructure of Indonesia. In a statement, the Manila-based multilateral bank said it will extend $124 million for the construction of a new airport in eastern Kalimantan province and another $116 million to improve the water and drainage facilities of north Sumatra province.

Fifteen die in BI building blaze

Fifteen die in BI building blaze JAKARTA (JP): At least 15 people were killed in a fire which gutted the top four floors of one of Bank Indonesia's office towers on Jl. MH. Thamrin in Central Jakarta yesterday. The fire started about 9:30 a.m. on the 23rd floor of the 25- story building -- which has been under construction since late 1996 -- and spread to the 22nd, 24th and 25th floors.

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. 618/KMK.014/1997, the new conversion rates will be valid for one week, from Dec. 8 to Dec.14. Previously, the rates were valid for three months.

Food first at Tanjung Priok

Food first at Tanjung Priok JAKARTA (JP): In the lead-up to Christmas, New Year and Idul Fitri, the Tanjung Priok Port management is giving berthing priority to vessels carrying basic staple goods and foods such as rice, sugar and soybeans, an official said yesterday.

Conversion Rates

Conversion Rates Jakarta (JP): Bank Ekspor Impor Indonesia's (Bank Exim) conversion rates on Dec. 8, 1997: Buying Selling Rp Rp U.S.

CLIMATE TALK:

CLIMATE TALK: Reuters State Minister of Environment Sarwono Kusumaatmadja addresses the third Conference of Parties on the United Nations Framework Convention on Climate Change in Kyoto, Japan calling for participants to work together to produce a protocol which would help reduce gas emissions. Sarwono said yesterday that since the Earth Summit in Rio de Janeiro, Brazil, five years ago, little progress has been made in this area.

Crop production to fall this year

Crop production to fall this year JAKARTA (JP): Indonesia's crop production for this year is expected to fall by between 1.34 percent and 5.61 percent this year due to the severe drought, a senior official of the Ministry of Agriculture said yesterday.

RP exports up 23.1%

RP exports up 23.1% MANILA (AFP): The Philippines merchandise exports rose 23.1 percent from a year earlier to US$20.687 billion in the 10 months to October, the National Statistics Office said yesterday. October exports rose 23.4 percent from a year earlier, but fell 0.6 percent on the previous month, to $2.324 billion. The bulk of October exports, representing a 46.7 percent share, were in electronics. Electronics exports rose 39.1 percent from a year earlier to $1.086 billion.

Australian on anti-Asianization drive

Australian on anti-Asianization drive JAKARTA (JP): A senior member of the Australian House of Representatives is currently in Jakarta as part of a regional tour to explain his campaign against what he calls the "Asianization" of Australia. Graeme Campbell, independent member for Kalgoorlie, Western Australia, told The Jakarta Post that his campaign had been grossly misrepresented by the Australian media which often led to the misunderstanding in the region that it smacked of racism.

SE Asian rubber prices head for consolidation

SE Asian rubber prices head for consolidation SINGAPORE (Reuters): Southeast Asia rubber prices are headed for a consolidation this week as nervous regional currencies and a weak Tokyo market take center stage, dealers said yesterday. Recent talk of emerging Chinese demand of around 100,000 tons for central reserves were taken with a pinch of salt, dealers said. "I am skeptical about Chinese demand. I suspect it's more likely just talk," said a Singapore-based dealer.

Tegal restaurateurs elect village chief

Tegal restaurateurs elect village chief TEGAL, Central Java: Thousands of Tegal migrants in Jakarta who own small food stalls usually known as "Warteg" have been summoned home to elect the new chief of Sidapurna village, Antara reported yesterday. Local leader Rasmidi said Sunday the Tegal entrepreneurs were "forced" to go home by the election committee to take part in a planned reelection because the number of voters at Friday's election was inadequate.

On Montessori school

On Montessori school Linawati Sidarto's article on the PSKD (the Djakarta Christian School Association) Montessori School (Nov. 26, 1997) and Frank Richardson's comment (Dec. 1, 1997) underlined some key problems in contemporary Indonesian education. The most obvious one is the rigidity of our system which is mostly based on the retention of facts and the occasional regurgitation of these facts.

Many mining firms qualified to float shares

Many mining firms qualified to float shares JAKARTA (JP): Many local mineral resource-based companies are qualified to float their shares on the domestic stock market, analysts said. Bahana Securities analyst Adriansyah Chaniago said yesterday that mining company shares could be more attractive than those of industrial companies.

PMII elects new chairman

PMII elects new chairman SURABAYA, East Java: A violence-riddled student congress eventually elected Syaiful Bahri from Yogyakarta as the new chairman of the Indonesian Islamic University Students Movement (PMII) on Sunday. The participants of the week-long congress were involved in a number of brawls during the congress even though in a statement they deplored the government for resorting to violence in taming its dissidents.

Businessman tried in Bank Arta Prima case

Businessman tried in Bank Arta Prima case JAKARTA (JP): Businessman Kim Johanes Mulia was indicted at the East Jakarta District Court yesterday on charges of advising a bank's owner to forge promissory notes worth Rp 150 billion (US$37.5 million). Prosecutor Sugiyanto said that Kim, the president of PT Detta Marina in East Jakarta, had suggested to Bank Arta Prima owner, Made Oka Masagung, that the latter forge the promissory notes from January to July 1995.

Myanmar wins Asian club golfing title

Myanmar wins Asian club golfing title CIMANGGIS, West Java (JP): Myanmar proved again the strength of its amateur game yesterday as it swept to its second victory in the Johnnie Walker International Club Championship at the Emeralda Golf and Country Club. Lying in second place, by 0.6 points, after the first round on Sunday, the team represented by the Ayeyarwady Golf Club from the northern city of Pathein, showed its true mettle to score 444.8 points using the Double Peoria handicap system.

Geologists called on to restore confidence

Geologists called on to restore confidence JAKARTA (JP): Vice President Try Sutrisno called on Indonesian geologists yesterday to restore international confidence in Indonesia's mining industry following a recent mining fiasco which resulted in one of the biggest hoaxes in history. The vice president said geologists are expected to provide accurate information and maintain their reputation in the business world.

Police action irritates Attorney General's office

Police action irritates Attorney General's office JAKARTA (JP): The Attorney General's Office has expressed its dissatisfaction with police procedures in the recent detention of five employees for allegedly fabricating witnesses' statements. Deputy Attorney General Agung Sudjono C. Atmonegoro told reporters here yesterday that the police needed permission from the office prior to making the arrests.

Workers file suit against Jamsostek board of directors

Workers file suit against Jamsostek board of directors JAKARTA (JP): Lawyers acting on behalf of more than 100 workers filed a lawsuit yesterday against directors of the state- owned workers' insurance company PT Jamsostek for the alleged misuse of funds under its management, a court official said.

East Asians take insufficient action to clean their skies

East Asians take insufficient action to clean their skies Against the background of the Kyoto climate conference, which is now concluding, our Asia correspondent Harvey Stockwin takes a look at the pollution problems in East Asia, and concludes that while no regional pollution haze threatens, the East Asian nations have absolutely no grounds for complacency.

Playwright plans to sue police

Playwright plans to sue police JAKARTA (JP): Playwright Ratna Sarumpaet appointed the Indonesian Legal Aid Foundation (YLBHI) yesterday to represent her in a possible lawsuit against National Police Chief Gen. Dibyo Widodo over the banning of her play about slain labor activist Marsinah. Ratna said the ban was an act of despotism and violated the 1995 directive issued by the National Police chief.

Voice-mail virus

Voice-mail virus The voice-mail virus seems to be spreading all over Jakarta's telephone system. It latches onto our home telephones, then activates after three rings. People can be trying to get you for weeks and still not get past it. Why is it on our telephones? At whose request is it installed? Many of my tortured friends and I have tried to have it removed without success. If all else fails, then how do we access this voice-mail?

The rich to pay more, the poor less for tap water

The rich to pay more, the poor less for tap water JAKARTA (JP): The city-owned drinking water company, PDAM Jaya, plans to increase its tariffs for wealthy customers but lower fees for the poor and welfare organizations, an official said yesterday. Director Rama Boedi said that the new tariff will be implemented as of next month, pending approval from the municipality.

TV today

TV today 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: Di Reuni Ada Kisah 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 Culture Program: Sepekan Budaya Nusantara 9:00 World News 9:30...

Unstable Asia kicks off year of living dangerously

Unstable Asia kicks off year of living dangerously By Gwynne Dyer LONDON (JP): The last of Asia's hidden economic time-bombs, in South Korea's debt-ridden industrial conglomerates and Japan's secretive banking sector, have now been dragged out into the open. The global economy will probably ride out the resulting upheavals without a major recession. But what about Asia's political stability?

Insurance alliance announced

Insurance alliance announced JAKARTA (JP): New York-based Metropolitan Life (Metlife) Insurance Company and PT Tunasmas Panduarta of the widely diversified Tirtamas Group have agreed to set up a joint venture insurance company. The company announced yesterday that Metlife would own a 62 percent stake in the new joint venture firm, to be named PT Metlife Sejahtera. PT Tunasmas would own 33 percent and Bringin Life, another local insurance company, would hold the remaining 5 percent.

Has the IMF reform package failed?

Has the IMF reform package failed? Indonesia has implemented the International Monetary Fund reform package but the value of its currency continues falling. Economist Kwik Kian Gie discusses the reason behind the rupiah's decline. Question: The value of the rupiah fell to Rp 4,020 against the U.S. dollar on Friday in spite of the IMF package. What is your comment? Answer: The IMF reform package has failed to help stabilize the rupiah's value.

President 'accounts for human rights implementation'

President 'accounts for human rights implementation' JAKARTA (JP): A constitutional law expert has suggested that clauses on human rights be included in the State Policy Guidelines to enable the nation to demand the President's accountability for Indonesia's rights record. The option was preferred to establishing a special People's Consultative Assembly (MPR) decree on the subject, according to Yusril Ihza Mahendra of the University of Indonesia in a discussion here.

Astra Agro lists shares

Astra Agro lists shares JAKARTA (JP): Plantation firm PT Astra Agro Lestari, a subsidiary of automaker PT Astra International, will list its shares on the Jakarta Stock Exchange (JSX) today. In the article Grenfell pulls out from Makindo, which appeared in the business section of yesterday's edition of The Jakarta Post, Astra Agro Lestari was incorrectly reported as one of the listed companies on the JSX.

Rupiah continues free-fall, touches record low of 4,155

Rupiah continues free-fall, touches record low of 4,155 JAKARTA (JP): The rupiah fell deeper yesterday, breaking the 4,100 barrier to touch another historic low, while the stock market managed to make a three-day rally, dealers and brokers said. Currency dealers said spot rupiah fell to a historic low of 4,155 against the U.S. dollar yesterday afternoon when fire gutted the upper floors of one of Bank Indonesia's new twin towers.

Rupiah and won plumb new depths

Rupiah and won plumb new depths SINGAPORE (Reuters): The Indonesian rupiah and South Korean won plumbed new depths yesterday but elsewhere on the Asian currency scene the Malaysian ringgit managed a solid gain, analysts said. The rupiah's recent dire performance continued with a vengeance and intervention by Bank Indonesia failed to stop the rot.

Legal status of closed bank owners questioned

Legal status of closed bank owners questioned JAKARTA (JP): Bank Indonesia, the central bank, must clarify the legal status of the owners of the 16 banks recently closed by the government, legal experts said here yesterday. Economics law consultant Abdul Hakim G. Nusantara said legal aspects regarding the closure of the 16 private banks last month remained unclear, including the legal status of their shareholders.

Japan gives aid for maternal health

Japan gives aid for maternal health UJUNGPANDANG, South Sulawesi: Japan pledged yesterday US$47,404 to help improve maternal and infant health through a family planning clinic in Central Sulawesi's provincial capital, Palu. The grant was presented by the Consul General of Japan in Ujungpandang, Takaichi Yoneda, to Roata Pura Palu Clinic. The maternal mortality rate in Indonesia is 225 out of 100,000 pregnancies, Antara reported. (swe)

Crisis may affect stability: ABRI

Crisis may affect stability: ABRI JAKARTA (JP): Armed Forces Chief Gen. Feisal Tanjung warned yesterday that the current monetary crisis might affect the country's political situation as it prepares for next year's general meeting of the People's Consultative Assembly (MPR).

Hayono wins Group B at Gebyar auto race

Hayono wins Group B at Gebyar auto race JAKARTA (JP): Minister of Youth Affairs and Sports Hayono Isman won the Group B category of the Gebyar Gudang Garam auto race at Sentul, near Bogor, Sunday. Minister of Tourism, Post and Telecommunications Joop Ave was second and former home affairs minister Rudini came third. The three ministers were among the senior government officials and businessmen taking part in the one-day race. The ministers were in Group B and the nonministers were in Group A.

40,000 workers laid off in C. Java

40,000 workers laid off in C. Java SEMARANG (JP): As many as 40,000 workers in Central Java have been "arbitrarily" laid off in the past five months, chairman of the Semarang-chapter of the Federation of All-Indonesia Workers Union (FSPSI) Tambah Soedjio said yesterday. He told The Jakarta Post here that 400 of those dismissed were bank employees, 35,000 contract workers, 2,000 plantation workers, 200 sugar company workers, 500 textile company workers, while the rest were shoe factory workers.

9,264 Ecstasy pills destroyed

9,264 Ecstasy pills destroyed TANGERANG (JP): Soekarno-Hatta International Airport's customs office destroyed another 9,264 Ecstasy pills worth about Rp 465 million (US$166,000) yesterday. The office head, Nifsu Chasbullah, said the pills, wrapped in 11 packs, were confiscated at the airport on Sept. 10 and Sept. 19. Nifsu explained that the pills, which were of the Butterfly and Omega types, were destroyed after his office failed to trace the owners.

Mapping for areas for to disaster

Mapping for areas for to disaster YOGYAKARTA: A natural disaster expert suggested yesterday the mapping of regions vulnerable to disaster. Head of the center for natural disaster studies of Gadjah Mada University, Sudibyakto, said such maps would help the government in handling volcanic eruptions, floods, landslides and droughts. "Geographically and geologically Indonesia is very vulnerable to natural disaster," Sudibyakto said in a workshop on mapping vulnerable areas in Indonesia.

Stock Exchange

Stock Exchange Stock prices on the Jakarta Stock Exchange (in rupiah) on Dec. 8, 1997: Shares Close Change Trading Volume -------------------------------------------------------- Ades Alfindo 800 -25 41,000 AHAP Insurance 625 0 0 Alter Abadi 425 0 140,000 Alumindo Light Metal 300 0 535,500 Alumindo Perkasa 275 0 0 Aneka Kimia Raya 750 -25 142,500 Aneka Tambang 1,325 0 6,295,500 Anwar Sierad 250 0 908,500 Apac Centertex Corp.

Seeking debt rollover

Seeking debt rollover Foreign debt rollover could mean the difference between survival and bankruptcy for most Indonesian big businesses which are reeling amid the currency turmoil, depressed stock market, credit crunch and punitively high interest rates. But such a facility has become increasingly scarce because creditors, concerned over the dire economic condition, understandably are eager to rush out of what they now see as a highly risky situation.

Jakarta told to promote its uniqueness

Jakarta told to promote its uniqueness JAKARTA (JP): Jakarta should promote its uniqueness and cultural attractions to make a name for itself as a service city, a seminar was told yesterday. Deputy Governor for Development Affairs Tb. M.

Gunung Kidul withers in heat and dust

Gunung Kidul withers in heat and dust By Heru Sigit Cahyanto GUNUNG KIDUL (JP): Toil and trouble has long beset inhabitants of Gunung Kidul in the special administrative district of Yogyakarta, fighting a constant battle to survive on arid land and with scarce water resources. The regency, located 39 kilometers southeast of the city of Yogyakarta, covers 1,485 square kilometers and consists of three subregions, 15 districts, three subdistricts, 144 villages and 1,431 hamlets.

Asia woes more complex than Mexican, says BIS

Asia woes more complex than Mexican, says BIS BASEL, Switzerland (AFP): Turmoil on Southeast Asia's financial markets is broader-based than the Mexican crisis of 1995 and could have broader repercussions, the Bank for International Settlements (BIS) said yesterday. In a report on banking and finance in third-quarter 1997, the BIS -- effectively the central bank of the world's central banks -- pointed out that Japanese banks particularly were in an exposed position.

State transportation firms suffer losses

State transportation firms suffer losses JAKARTA (JP): The government admitted yesterday major obstacles were preventing the improvement of three state-owned transportation companies, including two airlines, Garuda Indonesia and Merpati Nusantara, and the capital's bus operator PPD. However Minister of Transportation Haryanto Dhanutirto refused to say what the problems were or how they might be tackled.

Police to open fresh probe into Udin murder

Police to open fresh probe into Udin murder JAKARTA (JP): National Police Chief Gen. Dibyo Widodo said yesterday that officers would soon begin a fresh investigation into the unsolved murder of Yogyakarta-based Bernas daily journalist, Fuad Muhammad Syafruddin, alias Udin. Speaking before members of House Commission I for defense and security, Dibyo said the police had started questioning Sgt. Maj. Eddy Wuryanto.

Man imprisoned for rioting

Man imprisoned for rioting TASIKMALAYA, West Java: The court ruled yesterday that Asep Ilyas bin Yusuf Sidiq did not mastermind last year's Dec. 26 riot as the prosecution had charged. But presiding judge Zaharuddin Yusuf sentenced Asep to one year and 10 months imprisonment for involvement in the riot that caused several deaths and left scores of buildings damaged, Antara reported. The prosecution had demanded four years imprisonment.