Indonesian Political, Business & Finance News

Archive: 9 December 1997

59 articles found

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.

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.

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).

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.

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...

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.

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.

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.

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.

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.

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.

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.

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. dollar 4,075.00 4,175.00Austrian shilling 312.60 346.80Australian dollar 2,723.40 2,823.50Belgian franc 110.40 113.90Canadian dollar 2,863.30 2,947.

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.

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.

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.

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.

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...

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.

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.

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).

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.

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.

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.

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.

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.

Maan to take on champ Els in Super Tour opener

Maan to take on champ Els in Super Tour openerBy 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...

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.

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.

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.

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.

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.

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.

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.

Gunung Kidul withers in heat and dust

Gunung Kidul withers in heat and dustBy 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.

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.

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.

Stock Exchange

Stock ExchangeStock 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...

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,...

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.

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.

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...

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).

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.

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.

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...

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.

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...

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.

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.

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.

Unstable Asia kicks off year of living dangerously

Unstable Asia kicks off year of living dangerouslyBy 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.

TV today

TV todayTVRI 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...

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.

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.

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.

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...

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.

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.