Indonesian Political, Business & Finance News

Archive: 6 February 1997

52 articles found

Krakatau Steel to boost production

Krakatau Steel to boost production JAKARTA (JP): State-owned PT Krakatau Steel plans to invest US$50 million to modernize its cold rolled steel coils plant in Cilegon, West Java. Soetoro Mangoensoewargo, the president of Krakatau Steel, said Tuesday the company would convert the five-stand tandem cold mill to a full continuous mill to increase production. "The project is expected to raise production of cold rolled steel coils to 950,000 tons a year from 650,000 tons," he said.

Badly damaged Depok-Cibelut road

Badly damaged Depok-Cibelut road From Neraca The road spanning Depok-Cibelut Bogor is badly damaged. Gaping holes along the road are very hazardous to traffic. This month many trucks have turned over. Obviously, this is due to the huge potholes which engulf the road. Will this condition be left unattended, claiming more victims? I have been living in this region for four years. In the past, the Bogor public works department used to repair the stretch of road between Depok and Cibelut frequently.

President may take over Busang case

President may take over Busang case JAKARTA (JP): Minister of Mines and Energy Ida Bagus Sudjana said President Soeharto will take over thm Busang gold case if Barrick Gold Corp. and Bre-X fail to seal their partnership deal by Feb. 15. "We hope the two Canadian companies conclude the deal before the Feb. 15 deadline so that we do not need the President's help to decide what to do," he said after a cabinet meeting.

Duff rates RI's notes

Duff rates RI's notes CHICAGO (Reuter): Duff & Phelps Credit Rating Co said Tuesday it assigned ratings to the Daiwa Asia Card LTD NV credit card receivables-backed notes, marking only the second credit card securitization transaction from Indonesia to be rated. The US$36,250,000 Class A notes were rated Single A, and the US$3,750,000 Class B subordinated notes were rated Triple B.

BNI letting other banks take over Bank Pacific

BNI letting other banks take over Bank Pacific JAKARTA (JP): State-owned Bank Negara Indonesia 1946 has no plans to acquire ailing Bank Pacific and will let interested investors take it over, BNI president Widigdo Sukarman said. Widigdo said that his bank was only providing technical assistance to Bank Pacific and that BNI would not be affected by the risks facing Bank Pacific.

Inhutani V to raise profit

Inhutani V to raise profit JAKARTA (JP): State-owned PT Inhutani V aims at increasing its pretax profit this year by 10 percent to 15 percent over the Rp 11 billion (US$4.78 million) achieved last year. Inhutani V President M. Toha said last year's profit was higher than the Rp 8.64 billion targeted. Toha said the profit increase could be expected from prices of wood which had lately shown signs of improvement.

Passport applicant numbers on the rise

Passport applicant numbers on the rise JAKARTA (JP): The number of passport applicants in Jakarta has increased by 10 percent over the past few days on account of the forthcoming Idul Fitri and Chinese New Year holidays, an immigration official said yesterday. Coordinator of the Jakarta immigration offices Moh. Iman Santoso said that on normal days, about 200 people apply for passports. Many of them plan to holiday in Singapore, Hong Kong, Taiwan and other Asian countries, he said.

Indofood plans acquisition

Indofood plans acquisition JAKARTA (JP): Publicly listed PT Indofood Sukses Makmur, part of the Salim Group, plans to issue rights shares to raise funds to acquire 11 other companies in the group. Indofood president Eva Riyanti Hutapea said yesterday the four-to-one rights shares would be sold to existing shareholders for between Rp 3,300 and Rp 4,000 each. She said that 75 percent of the cost of the acquisitions, expected to be about Rp 1.75 trillion, would be financed by the rights issue.

Where to go in Jakarta:

Where to go in Jakarta: Music * Dai-ichi Hotel, Jl. Senen Raya 135, Central Jakarta: - Morgan's 1072 Classic Disco: - Boombastic Band, Saturday, 9.30 p.m. to 1 a.m. - Smart Band, Wednesday, 9 p.m. to 12.30 a.m. - Rhythim Nine Band, Thursday, 9 p.m. to 12.30 a.m., Saturday, 9.30 p.m. to 1 a.m. - Acid Speed Band, Friday. at 9 p.m. to 12.30 a.m. * Dusit Mangga Dua, Jl. Mangga Dua Raya, Jakarta: - Equinox: VOX-B Band, Monday to Thursday, at 9 p.m to 2 a.m., Friday to Saturday, at 9 p.m.

Faith healers command respect

Faith healers command respect KUPANG, East Nusa Tenggara: As many as 40 percent of the 3.5 million inhabitants here believe more in "faith healers" than in nurses, midwives, and doctors, an official said yesterday. Chief of the provincial health office Agus Berek said the attitude helps explain why maternal and infant mortality rates in East Nusa Tenggara are so high.

Stock Exchange

Stock Exchange Stock prices on the Jakarta Stock Exchange (in rupiah) on Feb. 5, 1997: ----------------------------------------------------- Shares Close Change Trading Volume ----------------------------------------------------- Ades Alfindo 1,000 0 0 AHAP Insurance 2,675 0 0 Alter Abadi 1,175 0 140,500 Alumindo Light Metal 1,325 0 255,000 Alumindo Perkasa 750 25 25,000 Andayani Megah 1,050 0 121,000 Aneka Kimia Raya 1,325 0 414,500 Anwar Sierad 1,925 0 10,000 Aqua Golden Mississippi 4,250 75...

Rights violations persist in E. Timor

Rights violations persist in E. Timor DILI: Bishop Carlos Filipe Ximenes Belo said yesterday he had not seen any improvement of human rights in the youngest province despite continuing criticism. The 1996 Nobel Peace Prize laureate told reporters he had just completed a tour of the territory and found the young complaining about rampant human rights violations. "The situation has not changed,' he said.

Two prisoners escape

Two prisoners escape PADANG, West Sumatra: Two prisoners have escaped from Maninjau Prison when warders were generous enough to allow them to make coffee in the prison kitchen one night earlier this week. Antara reported yesterday that the convicts scaled the penitentiary's 3.5-meter walls after they had managed to divert warders' attention. Chief of the provincial office of the Ministry of Justice Ali Amran Janah said the authorities had no clue as to the jailbreakers' whereabouts.

Scholarships for 200 millionth citizen

Scholarships for 200 millionth citizen JAKARTA (JP): Wahyu Nusantaraaji has got it made for life. Named by President Soeharto as Indonesia's 200 millionth citizen, Wahyu, born on Lombok at 10:00 p.m. Tuesday, is assured of scholarships for as long as he wants to study. PT Pos Indonesia, the state-owned postal company, quickly adopted him as its son, and guaranteed his education.

Increasing problems in Indonesian skies

Increasing problems in Indonesian skies On Jan. 21, 1997, I was returning from Manila via Singapore on Singapore Airlines (SQ164). Having enjoyed a routine flight, I was busy preparing my papers for landing when the plane, a few hundred feet from the ground, began to bank wildly from side to side. One could sense a feeling of consternation among my fellow passengers though no one spoke a word.

Thailand, S'pore support summit

Thailand, S'pore support summit SINGAPORE (Reuter): Thailand and Singapore support Japan's call for summit meetings at least once a year with the Association of Southeast Nations (ASEAN) to deepen ties with the region, the Thai foreign minister said yesterday. "We both support Japan," Prachuab Chaiyasan told a briefing following talks with Singapore Prime Minister Goh Chok Tong.

RI bridge pair invited to Holland

RI bridge pair invited to Holland JAKARTA (JP): Indonesia is invited to take part in the men's bridge pair tournament in the Netherlands. Hengky Lasut, a top national bridge player and member of the Indonesian Bridge Association, said in Manado that for the Dutch tournament, the host expects Indonesia's team include those participating in the 10th Bridge Olympics last year on Rhodes Island, Greece.

Halal labels

Halal labels From Media Indonesia I am a Moslem student and the halal (permitted by Islam) label question has come to my attention. I support the Indonesian Council of Ulemas' (MUI) idea of label standardization, which would serve as a sieve sifting good material from the bad. This would be the only way, according to MUI, to ensure success and would not disappoint Moslems.

Surya Semesta Internusa to float 20% of shares

Surya Semesta Internusa to float 20% of shares JAKARTA (JP): PT Surya Semesta Internusa (SSI) plans to float 20 percent of its total enlarged shares, around 135 million shares, on the local stock exchange to raise fresh funds to finance its expansion program. Company president Marseno Wirjosaputro said yesterday that the property company expected to raise between Rp 135 billion (US$57.2 million) and Rp 168 billion from the sales of the common shares, each with a par value of Rp 500.

Enforce bill on psychotropics, say councilors

Enforce bill on psychotropics, say councilors JAKARTA (JP): Councilors urged the immediate issuance of the necessary government regulations to enable the enforcement of the newly passed bill on psychotropics. The law endorsed on Jan. 27 enables the punishment of those proved guilty of possessing, trafficking or producing Ecstasy with a maximum penalty of death. The long-awaited bill will become law as soon as President Soeharto signs it.

19 paintings stolen from art gallery

19 paintings stolen from art gallery BANDUNG (JP): Police are hunting for 19 paintings by Indonesian art master Sudjana Kerton that were stolen last Sunday morning from the Sudjana Kerton Gallery here. Lt. Col. Zul Azmi of the Bandung police told The Jakarta Post yesterday that a special team was handling the case. "We received the report Monday. This is our first experience of art theft. We are cooperating closely with the Jakarta police and Interpol," he said.

Coffee meeting canceled

Coffee meeting canceled JAKARTA (JP): A meeting of top robusta coffee producers scheduled for today on the resort island of Bali has been canceled, an Indonesian official said yesterday. Paian Nainggolan, Indonesia's representative to the Association of Coffee Producing Countries (ACPC), told Reuters the meeting was called off after Ivory Coast Commodities Minister Guy-Alain Gauze informed organizers he could not attend.

RI gets qualifiers for show jumping

RI gets qualifiers for show jumping JAKARTA (JP): Indonesia has been chosen to host two of the eight stages in the Southeast Asian zone qualifying round of the Volvo Cup world show jumping championships. Bo Helander, the secretary-general of the International Equestrian Federation (FEI), said Tuesday the first stage of the championships would be held in Ciater, West Java, on Sept. 7 and the second stage would be at Arthayasa Stable in Cinere, on the southern outskirts of the capital, on Sept.

Zarina surrounded by number one lawyers

Zarina surrounded by number one lawyers JAKARTA (JP): The trial of Zarina Mirafsur, charged with possessing and trafficking Ecstasy pills, is attracting increasing attention given the high profile of three of her seven lawyers. Today her second hearing is scheduled in West Jakarta District Court. * Amir Syamsuddin, 55, was the first lawyer appointed to represent Zarina. Born in Ujungpandang, South Sulawesi, he has been a lawyer for 15 years.

Higher fines for public order violators

Higher fines for public order violators JAKARTA (JP): The city administration and the city council are seeking stiffer punishment for public order violators, especially those who damage the environment. Governor Surjadi Soedirdja said the administration and the council would propose the government raise the fines imposed on offenders.

BNP expands Asia activities

BNP expands Asia activities SINGAPORE (AFP): Banque Nationale de Paris (BNP) announced here yesterday it had acquired control of an Asian stockbroking and corporate finance group as part of its regional expansion plans. The French bank said in a statement it had completed on January 31 the acquisition of 70 percent of the principal business of PrimeEast Capital Group, a Singapore-registered stockbroking and corporate finance concern.

Do we need a ministry of law?

Do we need a ministry of law? By Bambang Widjojanto JAKARTA (JP): A university rector's suggestion to set up a ministry of law and judiciary has won a large number of supporters. Dr. Muladi's recent suggestion echoed what Ismail Saleh, a former justice minister said in 1990. Those who support the idea have said if the government is serious in improving the judiciary the suggestion must be taken into consideration.

Let it be a lesson to us

Let it be a lesson to us From Neraca We have to admit that the recent riot which started in Situbondo, followed by unrest in Tasikmalaya, Senggau Ledo (West Kalimantan), Tanah Abang and Rangkasdengklok are, in fact, lessons for us and especially for the government. The Tanah Abang incident, for instance, occurred because security people overacted when they were doing their job. While on the other hand, long-time traders refused to tolerate this kind of treatment.

Civil servants told to vote for Golkar

Civil servants told to vote for Golkar DILI: East Timorese Civil Servant Corps members have been told they should vote for Golkar, the dominant political organization, in the May election. Secretary of the corps' East Timorese chapter A.H. Latuconsina said the rule also applied to wives of the civil servants grouped in the Dharma Wanita organization.

Indosat's earnings rose to $22 million in 1996

Indosat's earnings rose to $22 million in 1996 JAKARTA (JP): State-owned PT Indosat reported a 14 percent increase yesterday in its net profit last year -- lower than the 59 percent increase in 1995 -- to Rp 523.5 billion (US$22 million) from Rp 459.4 billion in 1995. President of the state-owned international telecommunications carrier Tjahjono Soerjodibroto told a press conference that Indosat's sales grew by 17.1 percent to Rp 1.22 trillion in 1996, from Rp 1.04 trillion in 1995.

New customs rules worry Europe and U.S.

New customs rules worry Europe and U.S. JAKARTA (JP): European, American and South Korean businessmen have expressed great concern about the new customs clearance rules the Indonesian government plans to implement in April. "If their preparations are not right and adequate, new problems may arise," cautioned C.K. Song, chairman of the Korean Businessmen Association in Indonesia.

Observers raise fears of national disintegration

Observers raise fears of national disintegration YOGYAKARTA (JP): Disintegration is the biggest threat currently facing Indonesia, according to sociologist Loekman Soetrisno. The Gadjah Mada University professor and director of its Center for Research on Rural and Regional Development told The Jakarta Post earlier this week that poorly planned development policies had robbed many groups in society of their ancestral territory. The resulting strain made people prone to violence.

American university, Gleneagles sign deal

American university, Gleneagles sign deal TANGERANG, West Java (JP): The Siloam Gleneagles hospital, the first hospital set up under the foreign investment scheme in the country, and the University of Southern California signed a deal on technology transfer yesterday. Gleneagles was represented by its president, Johannes Oentoro and the University of Southern California was represented by its Technology Transfer Director Pablo Valencia. Also present were Joseph P.

ABRI urged to trace the roots of unrest

ABRI urged to trace the roots of unrest JAKARTA (JP): One hundred people from various organizations concerned with the recent spate of riots urged the Armed Forces (ABRI) yesterday to prevent the unrest from reoccurring. In a meeting with ABRI Sociopolitical Affairs Chief Lt. Gen. Syarwan Hamid, they also demanded that the government seek the root problems that fueled the riots.

'Dangdut' show in Ancol

'Dangdut' show in Ancol JAKARTA (Antara): The management of Ancol Dream Land recreational park in North Jakarta said Tuesday it was preparing special attractions, including a dangdut show and door prizes for visitors during the Idul Fitri holiday from Feb. 8 to 16. The management said it would present many noted dangdut singers. Dangdut is the most popular music among the middle to lower classes. It has a characteristic strong beat reminiscent of Hindi and Arabic music.

Ramadhan time for Jakarta

Ramadhan time for Jakarta Thursday Maghrib 6:19 p.m. Friday Imsak 4:27 a.m. Subuh 4:37 a.m.

Contrasting displays of nature at exhibit

Contrasting displays of nature at exhibit By Amir Sidharta JAKARTA (JP): The work of painters Idran Yusuf and Gunawan Hanjaya is currently being shown at the Titian Alam (Bridge of Nature) exhibition at Galeri Linggar. As the title suggests, the theme of the paintings on display is nature. Although each artist paints in a unique style, both stay within the traditional boundaries of representing nature, which establishes a common bond between them.

Scholars criticize new election speech guidelines

Scholars criticize new election speech guidelines JAKARTA (JP): The government's new guidelines on election campaign speeches were criticized yesterday by scholars who agreed that the need to maintain political stability prompted the controversial rules. Riswandha Imawan of the Yogyakarta-based Gadjah Mada University's School of Social and Political Sciences said the decrees were part of the government's efforts to weaken political organizations, particularly Golkar's opponents.

Malaysia gears up as holidays loom

Malaysia gears up as holidays loom KUALA LUMPUR (DPA): Police and rescue teams have begun gearing up for an anticipated surge in road accidents, as schools closed yesterday and thousands of Malaysians start rushing home for family reunions ahead of Chinese and Moslem festivals beginning tomorrow. In Kuala Lumpur, police expect 1.5 million, or three quarters of the city's population, to depart for home towns and villages by Sunday in the five-day "double festival" holiday stretch.

Pino trains at home for SEA Games

Pino trains at home for SEA Games JAKARTA (JP): The Indonesian Boxing Association has agreed to let Pino Bahari train in his hometown of Denpasar, Bali, instead of with the centralized training program in Pasar Minggu, South Jakarta. The association's chairman, Poul Toding, said he would not interfere with Pino's training program. "My and the association's interest is only to see him win the gold medal at the SEA Games," he said.

PT Siloam expects $59M from IPO

PT Siloam expects $59M from IPO JAKARTA (JP): PT Siloam Gleneagles Health Care (SGHC) will sell 47 million shares in its initial public offering (IPO) this year at between Rp 2,950 and Rp 3,300 (US$1.4) per share to raise US$59 million, said Chief Commissioner James T. Riady. Riady said Tuesday that the fund would be used to finance a five-year project which would be completed by the year 2000.

Govt distributes quotas for imports of fishing vessels

Govt distributes quotas for imports of fishing vessels JAKARTA (JP): The government has allowed 28 companies to import 435 used and new fishing vessels and rejected proposals from 18 firms that failed to meet government requirements. Director General of Fisheries F.X. Murdjijo said yesterday that 24 of the companies would import 406 second-hand fishing vessels and the four others would import 29 new vessels.

Our population clock

Our population clock The arrival of a new born baby is always a happy occasion, even if it means one more mouth to feed. So the arrival of Indonesia's 200 millionth citizen Tuesday should be rejoiced. It was a special occasion for the nation not because we have finally reached that mark, but because we have managed to postpone reaching it for such a long time, thanks to a rigorous national family planning program launched in 1969.

ASEAN stresses willingness to dabate human rights with EU

ASEAN stresses willingness to dabate human rights with EU JAKARTA (JP): Indonesian officials have stressed the Association of Southeast Asian Nations (ASEAN) is ready to air human rights issues with the European Union as long as any discussion is conducted in a constructive manner and not aimed at cornering individual countries.

Bali to host surfing tourney

Bali to host surfing tourney JAKARTA (JP): Sixteen countries are scheduled to take part in the International Surfing Championship at Kuta Beach, Bali, from April 9 to April 13. Wayan Yasa, the Bali Surfing Association's chairman, said that surfers from Japan, Australia, USA, New Zealand, Brazil, France, South Africa, Peru, Tahiti, Puerto Rico, Guam, Hawaii and Indonesia would tough the waves in the country's first international surfing championship.

TV today

TV today TVRI 2:30 a.m Travel: My Country 2:35 TV Series: Family Matters 3:05 Talk Show: Sehari Bersama Wakil Rakyat 3:30 Tour and Travel: Dream of Flight 4:05 Science Film: A Writer's Exchange 4:30 Education Program: Bina Pramuka 4:55 Filler and Trailer 5:00 Regional News 5:25 News: My Country 5:30 Arabic Lessons 6:00 News: Lintasan Berita 6:05 Nusantara, The Beloved Country 6:15 Village Program 6:30 TVRI News 7:00 Evening News 7:25 Filler and Trailer 7:30 Ramadhan Program: Celah-celah...

Where to go in Bandung:

Where to go in Bandung: Music and Entertainment * Chedi Hotel: Jl. Rancabentang 56-58: Job (Piano), Monday to Wednesday, 5:30 p.m. to 8 p.m.; Irven (Guitar), Monday to Wednesday, 8:30 p.m. to 11 p.m.; Mixed Voices Accapela singer and Andi (Pianist), Thursday and Saturday, 8:30 p.m. to 11:30 p.m.; Andi (Piano), Friday and Sunday, 5:30 p.m. to 8 p.m.; Imelda (Piano), Friday, 8:30 p.m. to 11 p.m.; Juli (Piano), 5 p.m. to 10:30 p.m. * International Imperium Hotel: Jl. Dr. Rum No.

Staple foods prices stable

Staple foods prices stable JAKARTA (Antara): The prices of nine staple foods in the capital city remained stable yesterday, four days before the Idul Fitri festivities. In Tanah Abang market in Central Jakarta, some traders predicted the demand for a number of food stuffs would rise tomorrow and Saturday. Meat and mutton prices in several markets still range between Rp 13,000 and Rp 14,000 per kg.

Tunky to help industrial estate developers

Tunky to help industrial estate developers JAKARTA (JP): Minister of Industry and Trade Tunky Ariwibowo promised yesterday to help industrial estate developers acquire land faster. "I will do my best to help them," Tunky was quoted by Antara as saying regarding investors' complaints on the arduous and costly process of acquiring land for industrial estates. Tunky is also the chairman of the Coordinating Committee for Industrial Estate Development.

The plight of illegal workers

The plight of illegal workers Referring to information about the return of illegal Indonesian women workers from Malaysia since Dec. 26, 1996, I am giving my comments, which are based on factual data concerning their situation. 1. Many overseas workers who returned under pressure and were left on their own, came in through Riau (Bagan Siapi-api, Dumai and Selat Panjang). 2. The workers were generally not in good health. They suffered a lot in Malaysian prisons. 3.

Feisal downplays border closure

Feisal downplays border closure JAKARTA (JP): Armed Forces Commander Gen. Feisal Tanjung said yesterday there was no problem with Malaysia closing its border checkpoints with Indonesia following ethnic riots in West Kalimantan. Malaysia, Feisal said before attending a cabinet meeting, has every right to close the border and Indonesia should not be offended. "We should not be offended if our neighbor closed their door for security reasons.

Japanese gives $100,000 to research hair lips

Japanese gives $100,000 to research hair lips JAKARTA (JP): Japan is donating US$100,617 (Rp 238 million) to Indonesia to bolster the latter's ability to treat patients with hair lip and cleft palate. The note for the agreement was signed by Japanese Ambassador Taizo Watanabe and Halimah Bambang Trihatmodjo, the chairwoman of the Harapan Kita Foundation which runs the Harapan Kita Children and Maternity Hospital in Jakarta.