Indonesian Political, Business & Finance News

Archive: 18 March 1997

50 articles found

Eastern flood canal project won't be canceled, says Rais

Eastern flood canal project won't be canceled, says Rais JAKARTA (JP): Deputy governor of economic and development affairs Tb. M. Rais said yesterday the municipality would not cancel the long-planned eastern canal project. Commenting on recent reports that the project would be canceled, Rais said the project was necessary to protect the eastern parts of the capital from worse flooding.

Forest royalties set by April

Forest royalties set by April JAKARTA (JP): The government will announce whether it will increase forest royalties by April 1, forestry minister Djamaludin Suryohadikusuma said yesterday. "We will see the capability of forestry concessionaires to pay royalties before deciding on any increase," he said. The government usually increases forest royalties twice a year -- in April/May and October. The last increase was 10 percent and came last September after a rise in plywood prices and inflation.

Garuda to sell hotels in consolidation scheme

Garuda to sell hotels in consolidation scheme JAKARTA (JP): National flag carrier Garuda Indonesia will finalize the sale of its two hotels in April, the airline's president, Soepandi, said yesterday. "We hope we will be able to sign the sales before the end of next month," he said. He said the sale of the two hotels, in Sanur, Bali and Seginggi, Lombok would be part of the airline's business consolidation program. The hotels are managed by Garuda's subsidiary, PT Aerowisata.

10 questioned over riot

10 questioned over riot PRAYA, West Nusa Tenggara: Central Lombok police have detained 10 people allegedly involved in Saturday's rioting, a press report said yesterday. Central Lombok regent Ircham said the authorities would take harsh action against those found guilty of inciting the riot and vandalizing public facilities. "They will get even harsher punishment if they vandalized the facilities and looted shops," Ircham said as quoted by Antara.

Aid for quake victims embezzled

Aid for quake victims embezzled BANDAR LAMPUNG, Lampung: Lampung University student activists demanded yesterday that the results of an investigation into the alleged embezzlement of aid for Liwa quake victims be made public. They marched to the provincial legislative council to call for transparent handling of the scandal. They threatened to go to the Jakarta-based House of Representatives and the National Commission on Human Rights if the authorities "froze" the case.

TV today

TV today TVRI 2:30 p.m. Travel: My Country 2:35 TV Series: Berenstain Bears 3:00 News: Lintasan Berita 3:05 Children's Program: Diletansia 3:30 Science Film: Four Minute Mile 4:00 News: Lintasan Berita 4:05 Science and Technology Film 4:30 Culture: Pelangi Budaya; Perkawinan Adat Biak 4:55 Filler and Trailer 5:00 Regional News 5:30 English 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...

Cause of teenagers mischief

Cause of teenagers mischief From Pikiran Rakyat I am an organization instructor at a government-recognized private school in Bandung. The high school is not big and there are not many students. Despite this, it has carved itself a name with organizing instruction courses like mine. About four years ago, when I was still a second grader at the institution I am now chairman of, there was another organization which held a camping excursion without informing the school first.

PT Sliontec to set up adhesive tape plant

PT Sliontec to set up adhesive tape plant JAKARTA (JP): PT Sliontec Ekadharma Indonesia will spend Rp 33.32 billion (US$14 million) setting up a tape adhesive plant in MM 2100 industrial estate in Cibitung, West Java, in May. PT Sliontec Ekadharma Indonesia is a joint venture owned by Japan's Sliontec Corporation (51 percent), PT Ekadharma Tape Industries (26 percent), Otoyo Shokufu Co. Ltd (20 percent) and Japan's Orion Trading Co. Ltd (3 percent).

SE Asian palm oil markets seen weak

SE Asian palm oil markets seen weak KUALA LUMPUR (Reuter): Southeast Asian palm oil markets are likely be weak this week, with bearish February supply/demand figures released at the weekend seen having a negative impact on the Malaysian market. Regional traders said Indonesian palm olein prices were expected to weaken for the fourth straight week on falling demand.

EARTHQUAKE TERROR:

EARTHQUAKE TERROR: JP/oby JP/arh Hundreds of private companies' employees working in multi- story buildings on thoroughfares, such as Jl. Jend. Sudirman (see photos) lined up outside their evacuated buildings following the tremor which rocked the city yesterday. Many of those working in multi-storied buildings panicked when the quake measuring six in Richter scale hit Jakarta.

Social scientists gather

Social scientists gather JAKARTA (JP): Social scientists from universities across Indonesia start a five-day congress and series of seminars in Medan, North Sumatra today to draft recommendations for fellow professionals on how to anticipate tougher future challenges. President Soeharto is expected to open both the seminars and the seventh congress held by the Indonesian Association for Social Sciences Development.

Our country should not decline

Our country should not decline From Kompas After more than 50 years of independence Indonesia now has many intellectuals and thinkers. The situation is clearly different from conditions 60 to 65 years ago. At the time whatever a leader said was trusted and accepted. The situation has now changed. Everything must be studied and analyzed to see if it is logical and true. Discussions and differences in opinion are common.

Journalism quiz for students

Journalism quiz for students JAKARTA (JP): As part of the commemoration of National Press Day, which falls on Feb. 9, the Indonesian Journalists Association Jakarta chapter is to hold a journalism quiz for senior high school students. Nine schools, including representatives from Bekasi, Bogor and Tangerang, have confirmed their participation in the event which starts today at TVRI's Studio VII. Director General of Press and Graphics Subrata is scheduled to open the one-day quiz.

RI customs law triggers panic

RI customs law triggers panic JAKARTA (JP): Frightened producer importers have stockpiled six months of supplies, fearing that the implementation of the 1995 customs law starting on April 1 could hinder the flow of imports for quite some time. The Indonesian Importers Association's chairman, Amirudin Saud, said yesterday the stockpiling of raw materials was likely to cause a deficit in Indonesia's merchandise trade balance during the first three months of this year.

Bus kills student, injures nine

Bus kills student, injures nine PURWOKERTO, Central Java: A speeding bus plowed into a crowd of students, killing one and injuring nine in Pakuncen, 15 kilometers west of here yesterday. The police saved the bus driver, Zaenuri, 27, from being beaten up by an angry mob, eyewitnesses said. They said the Safari bus on its way from Tegal to Purwokerto tried to overtake two buses on a busy street.

Nine Jelambar residents too scared to go home

Nine Jelambar residents too scared to go home JAKARTA (JP): Nine residents of Jelambar, West Jakarta, have not been able return home for a week as of yesterday because they were scared of being intimidated by neighbors. Late Friday, residents of the Jelambar Baru subdistrict, Grogol Petamburan, said they had been terrorized by their neighbors because they had been quoted in an article in Republika daily's Sunday edition talking life in their slum area.

Malaysia to invest $5 billion in IMTGT

Malaysia to invest $5 billion in IMTGT JAKARTA (JP): Malaysian businesspeople have pledged to invest about US$5 billion in the triangular area linking northern Sumatra, western Malaysia and southern Thailand. The deputy chairman of Malaysian Chamber of Commerce and Industry, Abdul Rahman Maidin, said over the weekend part of the money would be invested in Aceh's plantations, industrial and trade sectors. "But I cannot yet identify them.

A reflection of foreigners' trust

A reflection of foreigners' trust Prajogo Pangestu, through his PT Tanjungenim Lestari Pulp and Paper (TLPP) paper mill, last week signed a US$991 million loan. All the creditors were foreigners. Not a single local bank was involved, as was also the case in the financing of the Bakrie group's Ratelindo radio telecommunications project some time ago.

Rp 6b more to make Games bigger splash

Rp 6b more to make Games bigger splash JAKARTA (JP): An extra Rp 6 billion (US$2.5 million) will be spent to make the 19th SEA Games ceremonies more spectacular, organizers said yesterday. Rudolph S Warouw, the organizing committee's secretary- general, said the committee had raised its budget from Rp 95 billion to Rp 101 billion after its ceremonial and facilities departments had submitted new plans.

28 RI women allegedly mistreated in Singapore

28 RI women allegedly mistreated in Singapore JAKARTA (JP): Twenty-eight Indonesian women working as domestic helpers in Singapore have been mistreated by their employers, according to an Indonesian cabinet minister. The workers have taken refuge at the Indonesian embassy complex in the city state, State Minister of Women's Roles Mien Sugandhi said after meeting Sunday with 1,000 Indonesians, mostly female laborers, working in Singapore.

RP coconut prices may move sideways

RP coconut prices may move sideways MANILA (Reuter): Coconut oil prices are expected to move sideways this week ahead of the Easter holiday, Manila vegetable oil traders said yesterday. Traders also said the annual convention of oilseeds processors in the United States on March 19 to 21 would keep trading volume low. "Most of the players are attending the convention.

10 bus permits revoked for route deviations

10 bus permits revoked for route deviations JAKARTA (JP): The city land transportation control agency has temporarily revoked the permits of 10 public buses for violating regulations, an official said yesterday. The head of the agency's traffic control division, Oriyanto Supardal, said the buses had breached regulations by diverting from their routes before reaching their final destinations. "The agency had warned them, but they ignored the warning.

E. Java imports cattle

E. Java imports cattle JAKARTA (JP): East Java annually imports about 20,000 Australian cattle, far less than its import demand of 50,000, the head of the local farming agency, Padang Bambang Wiryono, said in Surabaya yesterday. "We are trying to minimize imports to encourage local farmers to increase production," he was quoted by Antara as saying. He said East Java had about 3.6 million cattle and only 550,000 could be slaughtered each year.

Vickers eyes one more firm

Vickers eyes one more firm JAKARTA (JP): PT Vickers Ballas Tamara, a joint venture securities company, expects to underwrite at least two initial public offerings (IPO) this year. The senior corporate finance manager of Vickers Ballas Tamara, Isamat Dalimunthe, said yesterday the company expected to underwrite another company in the second half of the year.

Shares prices recover in slow trade

Shares prices recover in slow trade JAKARTA (JP): Share prices on the Jakarta Stock Exchange (JSX) gained ground yesterday in a moderate trade marred slightly by panic over the earthquake in Jakarta. The exchange's Composite Index rose 0.6 percent to 670.93 from 666.84 after dropping 2.5 percent last week as investors dumped bank stocks. A dealer at a joint venture brokerage firm said many shares, especially bank shares, recovered but trade was quite as foreign investors remained sidelined.

Villagers protest PLN's planned public listing

Villagers protest PLN's planned public listing JAKARTA (JP): Sixty Ciseeng, Cihoe and Cibentang villagers of the Bogor regency, claiming PLN cheated them in a high-voltage cable installation deal, went to Jakarta Stock Exchange (JSX) yesterday to demand the JSX reject PLN's planned public listing. The protesters, mostly children and youths, said JSX should turn down PLN's planned public listing because the company's Cilegon-Cibinong 500 kilovolts transmission line project was "troubled".

Corrupt bureaucrates attacked

Corrupt bureaucrates attacked JAKARTA (JP): A senior official at the Ministry of Home Affairs renewed his attack yesterday against fellow officials for taking bribes from prospective employees. "There have been cases recently where the recruitment of Ministry of Home Affairs employees was done in ways which were not objective," according to the ministry's secretary-general Suryatna Subrata yesterday.

Detained politicians refuse to be questioned

Detained politicians refuse to be questioned JAKARTA (JP): Politicians Sri Bintang Pamungkas and Julius Usman, currently under investigation for subversion, refused to answer any questions yesterday from the Attorney General's Office interrogators. Bintang and Julius, leaders of the unrecognized Indonesian Democratic Union Party, announced they would not respond to further questioning unless the interrogators met their demand for clarification on certain matters.

Quake causes panic in Jakarta

Quake causes panic in Jakarta JAKARTA (JP): An earthquake measuring 6.0 on the Richter scale sent people scurrying out of high rise buildings, shopping malls and homes in Jakarta yesterday. Believed to be the strongest quake to rock the capital, the tremor caused major panic, disrupting work in high rise buildings. Last night there were no reports of casualties in Jakarta or any other cities in West Java where the quake was also felt.

Siswono backs Gus Dur's stance Israeli body

Siswono backs Gus Dur's stance Israeli body KENDAL, Central Java (JP): Minister of Transmigration Siswono Yudohusodo is backing enigmatic Moslem leader Abdurrahman Wahid's disputed decision to become a member of the Shimon Peres Institute. "I'm sure Gus Dur weighed it up carefully before he decided to accept the offer. He is a far-sighted leader," Siswono told The Jakarta Post.

Soeharto, Goh agree to boost ASEAN ties

Soeharto, Goh agree to boost ASEAN ties JAKARTA (JP): President Soeharto and Singapore Prime Minister Goh Chok Tong agreed yesterday to enhance economic cooperation between the seven ASEAN nations. The agreement came during a private meeting on Karimun Island, Riau. State Secretary Moerdiono was reported by Antara as saying that the two leaders reiterated the importance of strengthening ties between ASEAN nations, especially with the pending entry of Cambodia, Laos and Myanmar.

Where to go in Jakarta:

Where to go in Jakarta: Music * Radisson Hotel, Jl. Pecenongan 72, Central Jakarta: - Lobby Lounge Bar; Vino on Bass and Yudi on Piano, Mona and Nongky (Singers), Monday to Saturday, 6 p.m. to 10 p.m. * Ancol Travelodge, Jl. Lodan Timur No. 7, Taman Impian Jaya Ancol, North Jakarta: - Jungles Restaurant; Pasar Malam, Keroncong and Kecapi Suling, Friday, 6 p.m. to 10.30 p.m., Dixie Band, Saturday, 6 p.m. to 10.30 p.m., Trio Band, Sunday, 12 p.m. to 3 p.m. - No.

No need to organized rallies for presidential candidacy: Legislator

No need to organized rallies for presidential candidacy: Legislator JAKARTA (JP): A legislator criticized groups yesterday who had already called for President Soeharto's reelection for the 1998 to 2003 term, labeling the moves as attempts to curry favor with the head of state. Chairman of the House of Representatives Armed Forces faction Suparman Achmad also accused those who organized such calls of only seeking popularity.

Burglars make off with Rp25m goods

Burglars make off with Rp25m goods JAKARTA (JP): Five burglars threatened to stab an office boy working at an electronics shop in Central Jakarta before stealing Rp 20 million worth of goods yesterday. A sergeant at the Central Jakarta Police precinct said the burglars had arrived in a Kijang minivan at 11:30 a.m. outside the shop on Jl. Taman Batang Hari, Tanah Abang. "The burglars noisily broke the lock on a rolling door," he said.

Small businesses needs empowering, researcher says

Small businesses needs empowering, researcher says JAKARTA (JP): The government should empower small-scale entrepreneurs to build a strong base for the nation's economy, a scholar said yesterday. Cornelis LAY of the Yogyakarta-based Gadjah Mada University told a discussion titled Islam and Nationalism: The Present Reality and Future Portraits that inadequate attention had been paid to small businesses.

Asia's economies: Growth now, equity later

Asia's economies: Growth now, equity later By Johanna Son MANILA: Asia's surging economies are pressing ahead with liberalization and reforms aimed at spurring growth, but they still see concerns about equity and the social ill-effects of growth as secondary issues. This conclusion runs through the reports on social development in four Asian countries -- India, Indonesia, Malaysia and the Philippines -- prepared by local activists in the 1997 `Social Watch' report.

East Timor in photo display

East Timor in photo display JAKARTA (JP): The eight-year-old Jakarta Photographers' Society will exhibit 150 pictures on East Timor and its people's daily life. The color and black and white photos, snapped by 13 members of the club, will be on show in a four-day expo beginning Thursday at Taman Ismail Marzuki, on Jl. Cikini Raya, Central Jakarta. "Foreign Minister Ali Alatas has confirmed he will open the exhibition," FJ Mawati, a club executive, announced at a press meeting over the weekend.

Mar'ie says govt unlikely to reach revenue target

Mar'ie says govt unlikely to reach revenue target JAKARTA (JP): The minister of finance, Mar'ie Muhammad, said yesterday the government was unlikely to reach its tax revenue target for the 1996/1997 fiscal year which ends this month. Speaking at a plenary session with members of the House of Representatives yesterday, Mar'ie said tax revenue was expected to be slightly lower than planned.

Experts give logical explanation for quake

Experts give logical explanation for quake JAKARTA (JP): To the superstitious, yesterday's earthquake may have been a premonition of sorts, but experts say there is a logical and scientific explanation for the phenomenon. A member of staff at the National Earthquake Center in Jakarta described it as follows: "The Indo-Australia plate shifted northward and collided with the Eurasia plate at the subduction zone in the Indian Ocean seabed.

Malaysia launches industrial township

Malaysia launches industrial township KUANTAN, Malaysia (Reuter): Prime Minister Mahathir Mohamad launched a US$1.6 billion industrial township built to make electrical appliances yesterday, part of a multi- pronged effort to go global with made-in-Malaysia products. MEC City, undergoing construction on a 1,215-hectare (3000- acre) site outside the east coast city of Kuantan, will build air conditioners and refrigerators in its first phase.

Environment law 'toothless'

Environment law 'toothless' PEKANBARU, Riau: State Minister of Environment Sarwono Kusumaatmadja wants tougher sentences for polluters and destroyers of natural resources. The courts only ever gives offenders probationary sentences although everyone agrees they have committed serious crimes, he said here over the weekend. Two people taken to court separately in Riau for causing the death of 12 elephants and smuggling toxic waste were put on probation, he said.

S'pore's Lee to retract statement

S'pore's Lee to retract statement SINGAPORE (AFP): Singaporean Senior Minister Lee Kuan Yew yesterday said he was retracting a court document critical of a Malaysian state which triggered a diplomatic row between the two countries. In a signed statement, the former prime minister said he had instructed his lawyer to ask a court to remove "the offending words" from an affidavit portraying the southern Malaysian state of Johor near Singapore as crime-ridden.

BII signs $35m FRCD

BII signs $35m FRCD HONG KONG (Reuter): PT Bank Internasional Indonesia's (BII) US$35 million floating rate certificates of deposit issue has closed, arranger HSBC Markets said yesterday. The five-year issue, which was launched through the bank's Cayman Islands branch, was issued at par to float at 85 basis points over the six-month London Interbank Offered Rate. With fees, the all-in return for top-tier managers is 109 basis points. Arranger HSBC Markets committed US$12 million.

Stock Exchange

Stock Exchange Stock prices on the Jakarta Stock Exchange (in rupiah) on March 17, 1997: Shares Close Change Trading Volume --------------------------------------------------------- Ades Alfindo 1,025 0 0 AHAP Insurance 2,675 0 0 Alter Abadi 1,175 0 0 Alumindo Light Metal 1,200 0 167,000 Alumindo Perkasa 700 0 0 Andayani Megah 1,000 -25 170,000 Aneka Kimia Raya 1,275 25 308,500 Anwar Sierad 1,875 -50 24,000 Aqua Golden Mississippi 5,000 -125 77,500 Argha Karya Prima Industry 2,650 -25 10,500...

Foreign banks 'to help' small firms

Foreign banks 'to help' small firms JAKARTA (JP): Bank Indonesia, the central bank, plans to make it compulsory for joint ventures and foreign banks in Indonesia to allocate at least 20 percent of their overall credit to small businesses. Bank Indonesia's director for credit, Mukhlis Rasyid, said the central bank would fine banks that failed to do this. "They can choose either extending 20 percent of their credit to small businesses or pay the fines to Bank Indonesia," Mukhlis said.

Staffing our civil service

Staffing our civil service It is public knowledge that many people have been paying their way to get into the civil service for a number of years now. No one finds it ironic that a person is willing to pay millions of rupiah -- the equivalent of several years of income for an upstart civil servant -- for the privilege of working in the public sector.

S'pore's chemical ambition checked by its neighbors

S'pore's chemical ambition checked by its neighbors SINGAPORE (Reuter): Singapore is forging ahead with its plan to develop a major petrochemical production hub to service Southeast Asia, but intense competition from neighbours is slowing its growth, industry analysts said yesterday.

Zarina's friend contradicts police testimony

Zarina's friend contradicts police testimony JAKARTA (JP): The testimony of a witness in the trial of Zarina, a 25-year-old would-be actress charged with producing, possessing, and distributing 29,677 Ecstasy pills, contradicted yesterday testimonies by police last week. Witness Nur Saidah, alias Ida, 43, told the West Jakarta District Court she saw Zarina open the safe in front of police officers at the Tangerang police precinct, 26 km west of here, without using the safe's combination.

Minister urges coffee consumption to stabilize price

Minister urges coffee consumption to stabilize price SURABAYA, East Java (JP): The minister of agriculture, Sjarifudin Baharsjah, called yesterday for a campaign promoting drinking coffee. The minister said an increase in domestic coffee consumption was needed to stabilize local coffee prices. "One way to stabilize the price is by selling more coffee domestically," he said.

More officials join debate on foreign observers

More officials join debate on foreign observers JAKARTA (JP): The government is slowly revealing its agenda for the foreign observers who will be invited to monitor the May 29 general election, with more officials announcing what the foreigners will and will not be allowed to do.