Indonesian Political, Business & Finance News

Archive: 26 March 1997

49 articles found

Three policemen sacked

Three policemen sacked JAKARTA (JP): City Police Chief Monday officially dismissed three officers and demoted two others for military violations. Maj. Gen. Hamami Nata said the sacking and demotion of the officers was part of the police's crackdown on undisciplined members. These measures were in line with the police's principle of reward and punishment, Hamami said at a ceremony at the City Police headquarters.

Timor distributor drops sales target from 4,000 to 2,500

Timor distributor drops sales target from 4,000 to 2,500 JAKARTA (JP): PT Timor Distributor Nasional, the distributor of Timor cars has lowered its sales target from 4,000 a month to between 2,500 and 3,000 a month because of low domestic demand. The company's new president director, Soemitro Soerachmad, said yesterday sales plunged to 980 units last month from 3,300 units.

Indonesian group gets IPI independence prize

Indonesian group gets IPI independence prize GRANADA, Spain (AP): Indonesia's Alliance of Independent Journalists (AJI) was awarded the International Press Institute's "Free Media Pioneer '97" prize Monday at the opening of the group's sixth annual meeting. Satrio Arismunandar, secretary-general of AJI, accepted the award before a gathering of more than 500 journalists and other members of the media from around the globe.

Mahathir arrives in Japan

Mahathir arrives in Japan TOKYO (AFP): Malaysian Prime Minister Mahathir Mohamad arrived here yesterday for a five-day state visit with a 50-member delegation which will focus on ways to deepen economic ties with Japan. Mahathir, who made his first official trip 14 years ago, is to meet Japanese counterpart Ryutaro Hashimoto today to discuss ways to promote bilateral relations and cooperation in the Asia- Pacific region, foreign ministry officials said.

Craig Parry to play in Satelindo tournament

Craig Parry to play in Satelindo tournament JAKARTA (JP): Following England's Mark Calcavecchia's confirmed entry in the 1997 Satelindo Indonesia Open, Australian Craig Parry has accepted an invitation to play. The 31-year-old Parry will be one of 144 professional golfers competing for US$250,000 in prize money in the tournament, which is part of the Asia-Pacific Golf Association's Omega Tour.

Sad state of Telkom

Sad state of Telkom From Bisnis Indonesia I am Telkom subscriber No. 8761616. Each month Telkom cuts off my telephone despite the fact I regularly pay my bills. From August 1996 to present my telephone has been cut off six times because of "non-payment". Each time I have been compelled to report this to 117, the East Jakarta telephone office and the Cibinong telephone office, showing them all the paid bills. A study of Telkom's administration shows that the system does not function properly.

ADB lends to Indonesia

ADB lends to Indonesia MANILA (AFP): The Asian Development Bank (ADB) yesterday approved a US$85 million loan to Indonesia to improve the quality of its Islamic senior secondary schools, the Philippines-based bank said in a statement. The project would help narrow the gap between the senior secondary schools run by the Ministry of Religious Affairs, which are patronized by poorer students, and schools run by the education ministry, it said.

Six NGOs question status of national parks

Six NGOs question status of national parks JAKARTA (JP): Six international non-governmental organizations have sent a letter to the Ministry of Forestry and Ministry of Mines and Energy asking about the status of 20 Indonesian national parks which they say are unprotected from commercial mining exploration. Paul Jepson, BirdLife Indonesia's Coordinator, said yesterday that the letter was sent to urge the government to clarify the legal status of the national parks.

Freeport gives scholarship

Freeport gives scholarship JAKARTA: PT Freeport Indonesia made donations Monday for three East Indonesian students to pursue masters degrees in the United States under the Fullbright scholarship. The American mining company's funds are channeled through the non-governmental organization American-Indonesian Exchange Foundation, which also administers the Hubert H. Humphrey fellowship program in Indonesia. The Freeport scholarships are worth US$60,000. United States Ambassador to Indonesia J.

Stock Exchange

Stock Exchange Stock prices on the Jakarta Stock Exchange (in rupiah) on March 25, 1997: Shares Close Change Trading Volume -------------------------------------------------------- Ades Alfindo 1,025 0 0 AHAP Insurance 2,675 0 0 Alter Abadi 1,175 0 33,000 Alumindo Light Metal 1,075 -50 118,500 Alumindo Perkasa 725 0 0 Andayani Megah 1,000 0 175,000 Aneka Kimia Raya 1,175 0 272,000 Anwar Sierad 975 0 65,500 Aqua Golden Mississippi 5,200 0 0 Argha Karya Prima Industry 2,550 0 0 Argo Pantes 2,900...

Bank Niaga responds

Bank Niaga responds From Media Indonesia In response to Yuanita Purwadi's letter published in Media Indonesia (March 11), we would like to apologize for the negligence on our part in dealing with the bank account No.221.6726.211 of Ventje Mailuhu, Yuanita Purwadi's late husband. The following is our explanation of the case which has been settled in accordance with information we gave to Yuanita Purwadi. 1.

Hartarto rejects Malaysian's oil palm proposal

Hartarto rejects Malaysian's oil palm proposal JAKARTA (JP): The coordinating minister for production and distribution, Hartarto, has rejected Malaysian requests to develop oil palm plantation in Indonesian provinces which are in ASEAN's subregional growth zones. Hartarto said yesterday the government had not considered giving special facilities to Malaysian investors. Foreign investments in the sector were banned "because they have reached 1.6 million hectares", the minister said.

PT Eficorp mutual fund attracts Rp 42 billion

PT Eficorp mutual fund attracts Rp 42 billion JAKARTA (JP): Investment manager PT Eficorp Security, a Texmaco Group subsidiary, announced yesterday it had collected about Rp 42 billion (US$17.39 million) from its two-month old open-end mutual fund. Eficorp's president, T. Bakthavatsalam, said yesterday the company initially started with Rp 36 billion from sponsors when the mutual fund named DUIT was launched on Jan. 2.

What is the election really about?

What is the election really about? President Soeharto has rejected critics who said that the upcoming general election was just a formality to maintain the status quo. Political scientist J. Soedjati Djiwandono of the Centre for International and Strategic Studies examines the issue. JAKARTA (JP): To strive for democratization is to work for greater equality, justice, freedom and openness.

Balance of payments manageable

Balance of payments manageable JAKARTA (JP): The central bank, Bank Indonesia, is confident this year's general election and next year's presidential election will not put much pressure on the country's balance of payments. Bank Indonesia's Governor, J. Soedradjad Djiwandono, said yesterday the international financial community shared the central bank's confidence in Indonesia's balance of payments position.

Car thief dies after mobbing

Car thief dies after mobbing JAKARTA (JP): A man who was mobbed by Central Jakarta residents Saturday for attempting to steal a car, died in hospital Sunday. City Police Spokesman Lt. Col. E. Aritonang said Monday Asep Rosana Rozak, 25, tried to break into a car on Jl. Proklamasi, Menteng. "Asep used a master key to open the car which had been left just a few minutes before by the owner, Wawan Kurniawan," Aritonang said.

Pythons to be deployed for polls

Pythons to be deployed for polls SEMARANG, Central Java (JP): Military authorities in this Central Java city are planning to deploy at least 20 pythons to safeguard the May general election and the March 1998 presidential election. Lt. Col.

Frenchman allowed to climb Petronas

Frenchman allowed to climb Petronas KUALA LUMPUR (AFP): The Malaysian government yesterday agreed to let a French daredevil scale the world's tallest building, the Petronas Twin Towers, to raise funds for charity and generate publicity for the complex. Alain Robert, a 34-year-old rock climber, was detained last week for an unauthorized attempt to climb the 88-story towers, which are 452-meter (1,491-foot) tall.

Beefing up reserves

Beefing up reserves We should not read too much into the new borrowing made by Bank Indonesia from a syndication of 40 international banks yesterday. The new loan of US$500 million will serve only as a standby financial facility which the central bank can draw immediately in case of an urgent need to ward off currency speculations.

Stone throwing on Pasteur toll road

Stone throwing on Pasteur toll road From Neraca Vehicles have been the target of stone throwing on the Pasteur toll road in Bandung, West Java. A source has revealed that the target is motor vehicles of certain agencies and officials. But how could the culprits identify their targets? The missiles often land on other people's vehicles. There have been at least five cases. One involved the vehicle D 661 of the West Java agency for regional revenue.

Death sentence sought for Oki for triple murder

Death sentence sought for Oki for triple murder JAKARTA (JP): State prosecutors asked the Central Jakarta District Court yesterday to sentence Harnoko Dewantono, alias Oki, to death for the premeditated murder of three people in Los Angeles in 1991 and 1992. The prosecutors said they had proven Oki, 32, guilty of the murder of Suresh Mirchandani, Oki's Indian business partner; another business partner Gina Sutan Aswar; and his younger brother Tri Harto Darmawan, alias Eri. Prosecutor J.

Banks still unable to tap telecom sector

Banks still unable to tap telecom sector JAKARTA (JP): Local banks still lack the financing ability to tap into the country's growing telecommunications sector, causing most telecommunications projects to use large foreign loans, a banking executive says. A director of the central bank, Mukhlis Rasyid, said yesterday the situation occurred because local banks were still in a consolidation phase.

City tours urged in Surabaya

City tours urged in Surabaya SURABAYA, East Java: A business executive suggested the city promote tours to spots other than industrial sites and shopping complexes, Antara reported yesterday. Sutawi, chairman of the Association of Indonesian Travel Agencies, East Java chapter, said the 50-meter-high Jalesveva Jaya Mahe Monument, a symbol of pride for seafarers, in the Surabaya port of Tanjung Perak was a city asset.

Circus told to settle dispute out of court

Circus told to settle dispute out of court JAKARTA (JP): The National Commission on Human Rights suggests the dispute between the management of Oriental Circus Indonesia and its former workers be settled out-of-court.

Winning bridge in style

Winning bridge in style By Djanwar Madjolelo JAKARTA (JP): David Berkowitz and Larry Cohen won their sixth North American Bridge Championships title together when they captured the 1996 Spring National Open Pairs II with a score of 1,719.32. Berkowitz and Cohen have been playing together for five years and are among the world's top pairs.

Bank Artha Graha secures $25m loan

Bank Artha Graha secures $25m loan DENPASAR, Bali (JP): Bank Artha Graha secured a US$25 million syndicated loan yesterday from 13 local and foreign banks. Bank Artha Graha's president, Anton B.S. Hudaya, said the five-year loan would carry an annual interest rate 1.4 percent above the Singapore Inter Bank Offered Rate and be used to finance an expansion program. He said the loan's lead arranger was Hong Kong's Asia Capital Markets, which also provided $2 million of the loan.

Rp 138.4t needed for growth

Rp 138.4t needed for growth JAKARTA (JP): The municipality needs Rp 138.4 trillion (US$57.3 billion) in private investment to reach a target of 8.23 percent economic growth, Deputy Governor for Administrative Affairs Idroes said yesterday. He said the total investment needed to meet the annual target during the current Five-Year Development Plan (Repelita VI), which will end in 1999, was Rp 146.7 trillion. Of this 5.3 percent or Rp 8.3 trillion would be drawn from government investment.

Commitment to the public

Commitment to the public I have been a regular reader of The Jakarta Post ever since I set foot in Indonesia. I enjoy your features and your style of news coverage. However, I cannot hide my disappointment whenever a holiday comes around but The Jakarta Post doesn't. A short note would appear in the newspaper the day before notifying readers that because the next day is a holiday (Independence Day, Moslem or Christian holiday), there would be no Jakarta Post.

Bank customers advised to use police protection

Bank customers advised to use police protection JAKARTA (JP): Police told bank customers yesterday to ask for police protection whenever taking cash to and from banks, saying this service was simple and free of charge. Chief of the City Police Detectives Col. Paimin Aboeamr said bank customers only needed to ask their banks to call the police to protect them. "Don't hesitate to ask your bank to call the police.

Horta's referendum stand

Horta's referendum stand By Dino Patti Djalal LONDON (JP): At a recent 10-day seminar series East Timor independence leader Jose Ramos Horta used the occasion to speak on his most favorite subject: East Timor's referendum. The seminar which covered four North American cities, evolved around a series of points and counterpoints traded between Horta, five pro-integration East Timorese and myself. The conversation began on Feb. 27 in Boston, Massachussets.

Elephants guard trapped friends

Elephants guard trapped friends BANDA ACEH, Aceh: About 30 elephants have mounted a guard around two other elephants caught in traps in Lamtamot village, and are blocking any approach by humans, Antara reported yesterday. The traps were set to catch elephants which had damaged paddy fields in the village, 50 kilometers east of the Aceh provincial capital, Banda Aceh, on the northern tip of Sumatra.

Badmintom team told to get in shape for Sudirman Cup

Badmintom team told to get in shape for Sudirman Cup JAKARTA (JP): Members of the national badminton team, who have just returned from Europe, were told yesterday to get fitter for the Sudirman Cup and World Championships in May. National coach Tahir Djide said, "We must not waste time. We only have two months to prepare and we must start training next week." "The Sudirman Cup is our main target because we have failed to win it back. This year is our chance," he added.

PPP's Ismail welcomes his VP nomination

PPP's Ismail welcomes his VP nomination JAKARTA (JP): The United Development Party (PPP) chairman, Ismail Hasan Metareum, said yesterday he had no objections to party chapters nominating him for the vice presidency. "PPP chapters are welcome to give vice-presidential nomination suggestions," he told reporters at his residence in South Jakarta. However, he criticized the Jakarta party chapter for nominating him recently without the central board's consent.

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.

School to be built on stilts to avoid floods

School to be built on stilts to avoid floods JAKARTA (JP): The city administration will build a school on raised platforms in the Kebon Baru flood-prone area in South Jakarta this year, an official said yesterday. The head of the City Education Agency, Soeparmo, said the Kebon Baru state-primary school was severely flooded last year. "Almost all the school's documents were destroyed. So we decided to reconstruct it on-raised platforms to prevent the documents from floods," he said.

Govt in U-turn over foreign election monitors

Govt in U-turn over foreign election monitors JAKARTA (JP): The government is now not to invite foreign observers to monitor the May 29 general election, reversing its earlier decision, Attorney General Singgih said yesterday. "The government has no plans to invite foreign observers, but if they want to come here to watch, let them go ahead.

Museums gear up to raise money under new rules

Museums gear up to raise money under new rules JAKARTA (JP): A new rule on museums is expected to make them better equipped to raise money and attract visitors. The regulation on the City Museum and Restoration Agency gives city-owned museums the authority to manage their own activities, the head of the agency, Haswidi A. Taufik, said yesterday. Previously museums were dependent on the City's Museum and History agency to arrange programs and cooperation with outside parties.

Fate of female workers

Fate of female workers From Pelita Recently we have heard a lot of stories about the maltreatment of female Indonesian workers abroad. Many of those working in Singapore, who were treated badly by their bosses, have fled the country. Minister of Women's Roles Mien Sugandhi believes the fate of Indonesian workers in Malaysia and Hong Kong is even worse. We can then conclude women workers abroad face the same fate wherever they are. I believe that Indonesian female workers are not robots.

Glodok offers more to tourists

Glodok offers more to tourists From Merdeka Residents of Jakarta, particularly those living in West Jakarta are delighted with the government's decision to make Jl. Pancoran-Glodok a tourist area. The area has a lot to offer for tourists such as historical buildings and one of the best shopping areas in the city. Pancoran-Glodok has now become increasingly attractive thanks to the correct implementation of the National Discipline Movement program.

Apartment supply expected to jump by 183% this year

Apartment supply expected to jump by 183% this year JAKARTA (JP): Jakarta's apartment market will be heavily oversupplied this year because the number of apartments will jump 183 percent to almost 33,600 units this year, property consultant Colliers Jardine said yesterday. The head of Colliers Jardine's research department, Evelyn Khoo, said that as of February, the number of apartments increased 4.7 percent or 551 units to 12,426 units.

Goodyear buys RI rubber

Goodyear buys RI rubber SINGAPORE (Reuter): Goodyear Tire is said to have engaged in small-lot buying for Indonesian rubber while the Singapore rubber market remained dull yesterday due to thin demand, dealers said. "I hear Goodyear clinched some deals in Indonesia at 51.75 (U.S. cents a lb)," one dealer for a Singapore-based commodity house said. Dealers said the purchase was most likely for forward delivery.

RI to continue exporting workers

RI to continue exporting workers JAKARTA (JP): The government intends to continue sending female workers abroad but wants their skills to improve, State Minister of Women's Roles Mien Sugandhi quoted President Soeharto as saying here yesterday. Mien met with the President to report that she had been asked by countries she visited recently if, from later this year, Indonesia would stop sending female workers abroad.

World coffee prices tumble

World coffee prices tumble LONDON (Reuter): Coffee prices were sent tumbling down on Monday as fund investors clamored to sell and maximize profits from extraordinary gains so far this year. Benchmark robusta coffee futures on the London Commodity Exchange (LCE) dived by 7.7 percent or US$128 to the day's low before recovering slightly to close at $1,540, down $123.

Drinking water

Drinking water From Merdeka Is it true that the reserve of drinking water in the Jakarta area is decreasing? If so, the Jakarta administration must take necessary measures to anticipate the possible depletion of clean water. It seems that the decrease of ground water reserves is a result of the inconsiderate felling of trees on the green belt, the continuous construction of villas in the Puncak area and other environmentally destructive acts. The clean water problem is not new.

Subur gets Rp 37.2b syndicated loan

Subur gets Rp 37.2b syndicated loan JAKARTA (JP): PT Subur Agrosindo Selaras, a subsidiary of poultry company Subur Group, secured a Rp 37.2 billion (US$15.5 million) syndicated loan yesterday to finance its investment projects. The company's chief commissioner, Yusman Tamara, said the loan provided by eight local banks, would partly fund the company's Rp 67.3 billion expansion.

U.S. endorses project to help forests in RI

U.S. endorses project to help forests in RI WASHINGTON (Reuter): In a move to help stem global warming, the U.S. Energy Department Monday endorsed a project to curb damage to forests in Indonesia. Under the privately-financed project, California-based consultant COPEC and Washington-based American Forests will introduce new logging techniques in 600 hectares of forest on two private logging concessions in East Kalimantan.

Government to issue SEA Game stamps

Government to issue SEA Game stamps JAKARTA (JP): The government will issue a series of postage stamps to promote the 19th SEA Games to be held here in October, Minister of Tourism, Post and Telecommunications Joop Ave said yesterday. "I will order the state-owned postal company PT Pos Indonesia to print the stamps and the first-day envelopes and postcards to commemorate the event.

Autopsy performed on Bre-X geologist

Autopsy performed on Bre-X geologist JAKARTA (JP): A team of doctors performed an autopsy yesterday on the body of geologist Michael de Guzman who fell from a helicopter while flying to the Busang gold property he helped discover in East Kalimantan. Sugiyanto, head of the Temindung airport in the East Kalimantan capital Samarinda, said de Guzman's body was at the Wahab Syahrani General Hospital in the provincial capital. "Doctors performed an autopsy on the body today (Tuesday).

Asia's insurance market 'must become borderless'

Asia's insurance market 'must become borderless' SINGAPORE (Reuter): Asia's insurance market must become truly borderless if the region is to fulfill its potential as one of the world's most dynamic, a senior industry executive said yesterday. "We have to have a borderless environment to keep the flow of capital into the region dynamic and ensure that the energy of our collective capacity is maintained," said Michael Wee, general manager of the Singapore branch of Yasuda Re.