Indonesian Political, Business & Finance News

Archive: 17 February 1997

43 articles found

S&P says RI needs fewer but strong banks

S&P says RI needs fewer but strong banks JAKARTA (JP): Rating agency Standard & Poor's has suggested Indonesia reduce the number of banks in the country and strengthen their capital bases to meet future competitive threats from overseas players. As Indonesia became more involved in the global marketplace decreased restrictions on overseas banks in Indonesia and the growing demands of a sophisticated customer base would be major threats to the domestic banking system, it said.

American to start hunger strike in quarantine

American to start hunger strike in quarantine JAKARTA (JP): A 51-year-old American quarantined by the authorities for allegedly misusing his visa and possessing pornographic photographs will start a hunger strike to protest the unclear process of his arrest. In a letter made available to The Jakarta Post over the weekend, Jack Gilbert West denied the accusations and urgently asked the U.S. embassy for financial aid so he could leave the small quarantine cell for the States immediately.

Plan to extend Ramos term stirs uproar in Manila

Plan to extend Ramos term stirs uproar in Manila MANILA (Reuter): A top Philippine official has unveiled plans to extend President Fidel Ramos's term into the 21st century, provoking Vice-President Joseph Estrada to declare yesterday he would lead a nationwide protest to thwart the move. Analysts said the plan could be sharply divisive and might rekindle fears of autocratic rule akin to that of late strongman Ferdinand Marcos.

Travelers pack the city once more

Travelers pack the city once more JAKARTA (JP): Thousands of holidaymakers returning from their hometowns after an extended Idul Fitri holiday packed the city's bus terminals and railway stations yesterday. Most of the travelers arrived at the Pulo Gadung terminal, East Jakarta, with 99,273 passengers arriving on 1,804 buses Saturday. "Today (Sunday), the number of travelers was estimated to reach more than 100,000 people," Pulo Gadung official Sukimin, said yesterday. From 8 a.m. to 2 p.m.

Fostering cooperation

Fostering cooperation Contrary to what some observers may have anticipated, the two- day encounter between the Association of Southeast Asian Nations and European Union foreign ministers ended Friday in Singapore on a note of goodwill and optimism for the future, differences notwithstanding.

Where to go in Jakarta:

Where to go in Jakarta: Music * Ibis Slipi Hotel, Jl. Jend. S.Parman Kav.59, Central Jakarta. - Bar Onix: All Eight Band, Sunday, 9 p.m. to 12.30 a.m., Monday, Friday, 8 p.m to 12 p.m, Exelence Band, Tuesday, Thursday, 8 p.m to 12 a.m., Saturday, 9 p.m. to 12.30 a.m., Big City, Wednesday, 8 p.m to 12 a.m. * Imperial Century Hotel, 401 Boulevard Jend.Sudirman, Lippo Karawaci 1300, Tangerang: - Lobby; - Kecapi Sunda, Monday to Sunday, 2 p.m.

Sports organizations told to solve problems by March

Sports organizations told to solve problems by March JAKARTA (JP): The National SEA Games training director Djoko Pramono has urged all sports organizations to solve their internal problems before March 1. Djoko said after a declaration ceremony yesterday that all sports organizations must be able to gather their athletes and start centralized training before March 1. Athletes have been waiting for permission to join training from schools and employers.

Thai girls outtouch Jakarta Dragons

Thai girls outtouch Jakarta Dragons JAKARTA (JP): Nine girls from Bangkok who had not heard of rugby 12 months ago won the inaugural International Association of Southeast Asian International Schools women's touch rugby tournament here Saturday. The International School Bangkok team went through the two-day event undefeated, beating the host, the Jakarta International School (JIS) Dragons, 4-1 in the final.

Mining concession comes under fire

Mining concession comes under fire JAKARTA (JP): The Indonesian Center for Environmental Law (ICEL) attacked the government Saturday for allowing a coal mining firm to control 100,000 hectares of a Kalimantan national park. ICEL executive director Mas Achmad Santosa charged that the government had, once again, violated the laws it made to protect forests and the natural riches therein.

Unggul Widya to expand oil palm estates

Unggul Widya to expand oil palm estates JAKARTA (JP): PT Unggul Widya Teknologi Lestari will expand its oil palm estates in South Sulawesi's Mamuju regency from 10,000 hectares to 25,000 hectares, the company announced Saturday. Company president director Muin Pabinru said the company would open another 15,000 hectares for its oil palm estate after the success of its current estate.

Three more die in accident

Three more die in accident PADANG, West Sumatra: Two people were killed and three injured in an accident involving a bus and a pick-up van here over the weekend, police said. The accident happened in the Pesisir Selatan area when the packed open-roof pick-up van was hit by a bus on a sharp bend. The pick-up's passengers fell out onto the road. Two died at the scene and one on the way to hospital, Lt. Bagus Giri, a Pesisir Selatan police precinct officer said. Chief of West Sumatra Police, Col.

Arbi leads Indonesian sweep at Indian Open

Arbi leads Indonesian sweep at Indian Open NEW DELHI (AFP): Reigning world champion Hariyanto Arbi ended a 14-month title drought yesterday to spark an Indonesian clean sweep in the US$125,000 Indian Open badminton here. Arbi, whose last major title was at the Hong Kong Open in November 1995, cut short Indian national champion Gopi Chand's dream run with an easy 15-4, 15-7 win in the final.

National press

National press From Neraca I would like to inform the press that National Press Day should rightfully be looked upon as a memorable day. It is also a day the press can reflect on ways to improve itself. President Soeharto expressed his concern about the national press which has increasingly adopted a "foreign frame of thinking" in their coverage of national issues, by "looking at development through foreign glasses". Speaking on National Press Day Jan.

Garuda completes Pakistani jet modification

Garuda completes Pakistani jet modification JAKARTA (JP): Garuda Maintenance Facility, the national flag carrier Garuda Indonesia's aircraft maintenance unit, has completed modifying three parts of a Pakistan International Airlines (PIA) Boeing B-747-200 jet.

Peace talks underway in W. Kalimantan

Peace talks underway in W. Kalimantan JAKARTA (JP): Negotiations for peace between two conflicting ethnic groups in West Kalimantan are underway, but observers are divided on the possibility of successful dialog. Armed Forces spokesman Brig. Gen.

Clashes postpone RP peace talks

Clashes postpone RP peace talks COTABATO, Philippines (AFP): Peace talks between Moslem insurgents and the Philippine military have been postponed by a series of skirmishes between the two sides near this southern city, it was announced yesterday. The two sides accused each other of breaking an interim cease-fire agreement and Ghadzali Jaafar, spokesman for the Moslem insurgent Moro Islamic Liberation Front (MILF), said the rebels now expected the talks to take place on Feb. 25.

Antisubversion law must be revoked

Antisubversion law must be revoked From the meeting which took place yesterday (Friday) between the National Commission on Human Rights and Armed Forces Chief Gen. Feisal Tanjung, a piece of refreshing news emerged. Feisal was reported to have agreed with the commission that the antisubversion law should be abrogated. Obviously, the law would not simply be revoked without much further ado. Rather, it would be done after a new law on national security is put in place.

Freeport deal with Bre-X not yet sealed

Freeport deal with Bre-X not yet sealed TORONTO (Reuter): Reports that Bre-X Minerals Ltd has reached an agreement with its Indonesian partners and Freeport-McMoRan Copper and Gold Inc are probably premature, said a well-informed Canadian mining analyst. "As far as I know, there is no signed deal with any major company as we speak," Chad Williams with Research Capital Corp in Montreal told Reuters.

Table tennis body yet to exclude Suseno from training program

Table tennis body yet to exclude Suseno from training program JAKARTA (JP): The Indonesian Table Tennis Association has not yet excluded top player Anton Suseno from the 19th SEA Games training program due to his refusal to go to China for an overseas stint. The association's secretary-general Johnny Waworuntu said the organization received a letter from Anton Thursday saying that he would not go to China for family business reasons.

Kadin asks for transition period of customs law

Kadin asks for transition period of customs law JAKARTA (JP): The Indonesian Chamber of Commerce and Industry (Kadin) has supported the new customs law but asked for a transition period of three to six months before it is fully enforced. Kadin's Vice President Iman Taufik told The Jakarta Post the chamber highly appreciated the good intention and determination of the Customs and Excise Director General, Soehardjo, to implement the law on April 1 as scheduled.

Train fare hike

Train fare hike From Neraca Traveling executive class by train means comfort. Its reclining seats are like an airplane's which lull passengers to sleep until arrival at their destiny. However, something is not quite right. I had to pay Rp 80,000 for a ticket recently, when the price is normally Rp 45,000. This meant a hike of Rp 35,000 which I was forced to pay because there was no other choice.

Beeper numbers changed

Beeper numbers changed JAKARTA (JP): State domestic telecommunications firm PT Telkom changed yesterday three-digit telephone numbers of Skytel, Starko and Santika radio paging (beeper) operators. Telkom announced Skytel phone numbers had changed from 131 to 13011, Starko numbers from 135 to 13022 and Santika numbers from 138 to 13038. The change was necessary because of a government regulation stating three-digit phone numbers were designated for public services only.

Civil servants and the election

Civil servants and the election From Media Indonesia Will this year's general election result be as expected? It seems that this year's election will not be different from the previous elections held within the New Order era. I wonder whether the election will follow the principles of luber (direct, public, free and secret) and jurdil (honest and fair). Civil servants belong to the people. Consequently, civil servants should be neutral.

Police seize another grenade

Police seize another grenade JAKARTA (JP): Police seized another hand grenade from a house in Taman Harapan Indah Bloc Q/35, Jelambar, West Jakarta, Saturday after two active hand grenades were found in Megamendung, Bogor, and Cililitan, East Jakarta on Feb. 9. Chief of the Jakarta Police Detectives Col. Paimin Aboemr said yesterday the owner of the grenade, David bin Poniman, 32, was also arrested during a pre-dawn raid at his brother's house in Jelambar.

Nasution recuperates after surgery

Nasution recuperates after surgery JAKARTA (JP): Retired Gen. Abdul Haris Nasution, a respected senior Indonesian military figure, is recuperating following minor surgery at the Gatot Subroto Army Hospital. Nasution underwent prostate surgery Thursday, according to Suara Pembaruan yesterday. Dr. Fritz Kakiailatu, who is also a member of President Soeharto's medical team, conducted the operation. "I feel much better now, and thank you for the visit," Nasution was quoted by Antara as saying.

Corruption and collusion

Corruption and collusion When presenting his annual budget speech in the House of Representatives, President Soeharto said the practice of corruption, collusion and manipulation, easily led to emotional explosions. The government is aware of the problems and with the help of its apparatus will continue to take action against social ills. The institutions in support of the actions are the state administrative court and the National Commission on Human Rights.

Presidential decree on liquor

Presidential decree on liquor From Pelita On Feb. 12, the new presidential liquor ruling, No. 3/1997, was made public in the media. The ruling stipulated that the sale of categories B and C spirits containing more than 5 percent alcohol, would be allowed in hotels, bars and certain places to be appointed by the respective regional administrations. According to the Indonesian Council of Ulemas (MUI), "certain places" meant duty free shops which are frequented by expatriates.

Police issue another summons to Megawati

Police issue another summons to Megawati JAKARTA (JP): Police issued another summons to ousted leader of the Indonesian Democratic Party (PDI) Megawati Soekarnoputri last week, ordering her to appear for questioning Thursday. This was the second summons for Megawati after she refused to meet the first summons on Feb. 6, citing legal flaws in the documents.

IMF official briefs SE Asian central bankers

IMF official briefs SE Asian central bankers BANGKOK (Reuter): The 32nd meeting of the Southeast Asian Central Bank Governors (SEACEN) ended on Friday with participants declining to discuss what had occurred during the closed door, two-day, meeting. But SEACEN officials issued a communique which said the Executive Director of the International Monetary Fund (IMF) for Southeast Asia, Zamani Abdul Ghani, had briefed the meeting on the world economic outlook.

Indosat wants a stake in PT Abacus

Indosat wants a stake in PT Abacus JAKARTA (JP): State-owned international telecommunications firm PT Indosat is eying a stake in PT Abacus Indonesia, a reservation service company partly owned by national flag carrier Garuda Indonesia. Garuda finance director Achmad Subianto said Saturday Abacus was negotiating with Indosat about the share acquisition. "Indosat is interested in buying between 5 percent and 10 of PT Abacus," he said.

Fresh complaints raised against election campaign guidelines

Fresh complaints raised against election campaign guidelines JAKARTA (JP): Indonesia's two minority parties raised fresh complaints yesterday over what they called restrictive election campaign guidelines and sought a meeting with the government to discuss the problems. The United Development Party (PPP) deputy chairman Zarkasih Nur said yesterday the campaign rules do not encourage political parties to develop maturity and self-reliance.

JSX expected to gain ground this week

JSX expected to gain ground this week JAKARTA (JP): The Jakarta stockmarket is likely to remain strong this week on the back two consecutive days of upbeat trade after the Idul Fitri and Chinese New Year Holidays. Securities analysts and dealers said the market was strong early last week but showed signs of profit taking by the end of the week. "Last week saw a lot of foreign funds flow into the market," Peregrine Sewu Securities research director Felix Otto D'Souza said.

'Legislation alone can't prevent alocoholism'

'Legislation alone can't prevent alocoholism' JAKARTA (JP): Noted Moslem scholar Nurcholish Madjid has said it would take the Moslem community more than legislation to prevent alcoholism, especially among youths. Nurcholish said people need to return to a way of life based on Islamic teaching. "They need to be persuaded back to Islam because most of the drinkers are from the abangan group," said Nurcholish, referring to a term used to describe Moslems who do not adhere to many Islamic laws.

Lippo keen on 38% of Auric

Lippo keen on 38% of Auric SINGAPORE (Reuter): Food maker Auric Pacific has confirmed that Indonesia's Lippo Group is interested in acquiring a 38 percent stake in the company, the Straits Times said on Saturday. The daily added that Lippo group could also become the latest Indonesian conglomerate to secure a "back-door listing" in Singapore by buying the Auric stakes currently held by Pantagon and Nine Heritage.

State construction firms' revenue predicted to rise

State construction firms' revenue predicted to rise JAKARTA (JP): Minister of Public Works Radinal Moochtar predicted that the revenue of 19 state enterprises under the supervision of his ministry would increase by 22 percent to Rp 5.34 trillion (US$2.22 billion) this year, from Rp 4.39 trillion last year. Radinal said the increase in revenue would be generated mainly by the new business operations conducted by several companies which had engaged in diversification.

Plan to extend forest concessions supported

Plan to extend forest concessions supported JAKARTA (JP): The Ministry of Forestry supports a proposal to extend forest concessions from 20 years to 70 years by revising Law No. 5/1967 on forestry, Minister of Forestry Djamaludin Suryohadikusumo said over the weekend. The minister's support was based on the government wanting concessionaires to manage their forests sustainably and the revision would offer concessionaires more legal certainty.

Seven die in accidents

Seven die in accidents SEMARANG (JP): Seven people died and four others were injured in two road accidents here and Kebumen over the weekend, police and eyewitnesses said. The first accident occurred on Jl. Kaligawe, Semarang, when a speeding bus rammed into an empty oi} drum covering a pot hole, skidded and crashed into an oncoming van. Five people, including the van's driver, were killed and four injured in the accident, eyewitnesses said. Another road accident in Kebumen claimed two lives.

TV today

TV today TVRI 2:30 p.m. Travel: My Country 2:35 TV Series: Buck Rogers 3:05 Children's Program: Anak Anak Indonesia 3:30 TV Series: Fresh Prince of Bell Air 4:05 Science Film: Great Britain By Train 4:30 Education Quiz: Cepat Tepat 5:00 Regional News 5:25 My Country 5:30 Creative Program: Karya Tepat Guna 6:00 News: Lintasan Berita 6:05 Nusantara, the Beloved Country 6:15 Village Program 6:30 TVRI News 7:00 Evening News 7:30 Religious Teachings: Buddhism 8:00 News: Lintasan Berita 8:05 Talk...

PT PAL delivers turbine

PT PAL delivers turbine JAKARTA (JP): Surabaya-based PT PAL has delivered a 55 MW geothermal turbine to Gunung Salak, West Java. PT PAL, a company supervised by the Strategic Industries Management Board (BPIS) in cooperation with Italian company Ansaldo, made the turbine. Ansaldo delivered two similar turbines in 1994 to the Gunung Salak geothermal power plant.

Owners hide trawlers from police

Owners hide trawlers from police MEDAN: Seven entrepreneurs have hidden their trawlers in a secluded islet in the Malacca Straight to evade police raids on banned fishing equipment. They stopped operations last week following repeated press reports saying they were defying government bans, Antara reported. The government banned trawlers in early 1980s because their sophisticated equipment caught fish indiscriminately and threatened traditional fishermen's livelihoods.

Bumiputera's premium hits Rp 758b in '96

Bumiputera's premium hits Rp 758b in '96 JAKARTA (JP): Life insurance firm Bumiputera's premium income jumped 20 percent to Rp 758 billion (US$321 million) last year, the company said yesterday. "We expect to increase the premium incomes to Rp 1 trillion this year," president director Suratno Hadisuwito said at a ceremony marking the company's 85th anniversary making it Indonesia's oldest life insurance firm. Bumiputera paid Rp 330 billion in claims last year, up from Rp 271 billion in 1995.

Robbers get empty safe

Robbers get empty safe LHOKSEUMAWE, Aceh: Thieves breaking into a Lippo Bank here early last Friday ran away with an empty 800 kilogram safe, police said Saturday. Police said the large safe contained only documents and bundles of cheque forms, Antara reported. The theft was the second in the town this month. A group of armed robbers shot dead two employees of Bank Central Asia (BCA) and ran away with Rp 405 million (US$173,000) in cash on Feb. 4.

UK firm builds Indian port

UK firm builds Indian port BOMBAY (AFP): A British shipping firm has bagged a US$1 billion-dollar contract to build India's deepest and most modern sea port in the western Indian state of Maharashtra. The all-weather port will be put up at Wadhawan, 126 kilometers (78 miles) north of Bombay, by P.O. Ports Australia, a subsidiary of P.O. Steam Navigation UK. P.O. Ports Australia won the contract through global competitive bidding. The contract has been given on a build-operate-own-transfer basis.