Indonesian Political, Business & Finance News

Archive: 6 March 1997

64 articles found

SI expects to lift earnings

SI expects to lift earnings JAKARTA (JP): State-owned PT Surveyor Indonesia (SI) expects to lift its earning from it appraisal business this year by 600 percent, from Rp 10 billion (US$4.26 million) to Rp 60 billion. The company's director of finance, Toga Sitompul, said yesterday Indonesia's rapid economic growth, particularly in the property sector, had boosted the appraisal services market.

Yayuk determined to hit world top 20 after Wimbledon

Yayuk determined to hit world top 20 after Wimbledon JAKARTA (JP): Yayuk Basuki said yesterday she would keep playing international tennis, despite saying two years ago she would retire. "After I announced my retirement, I wondered why I was playing better and my world ranking was getting higher. It surprised me," she said yesterday at Hotel Atlet Century Park in Senayan. "I have an ambition to get into the top 20 in July, probably after Wimbledon. I am still playing tennis," she added.

US$17.39 loan set aside for people's forest projects

US$17.39 loan set aside for people's forest projects JAKARTA (JP): The government has set aside Rp 40 billion (US$17.39 million) this fiscal year to finance the development of peoples' forests and Rp 15 billion to promote silk cultivation, an official said yesterday. The Director General of Reforestation and Land Rehabilitation, Hendarsun S. Sanusiputra, said the funds would be given as soft loans to farmers in 16 provinces.

Lawyers want client exonerated

Lawyers want client exonerated JAKARTA (JP): Defense lawyers for a lawyer on trial for defaming a minister said yesterday the court had no legal authority to try their client. In a ten-page objection to the prosecutor's indictment, Luhut Pangaribuan, Paulus R. Mahulette and Rita Olivia said that in this case, the defendant, Heri S. Kolopaking had been acting in his capacity as a lawyer representing his client.

Klub Rasuna: A natural choice for healthy living

Klub Rasuna: A natural choice for healthy living Nestled in the heart of Jakarta's central business district, Klub Rasuna is a tranquil escape from the stress of daily life. One of Indonesia's premier sports and social clubs, the Bakrie Klub Rasuna was opened in November 1995, with a commitment to health and recreation. Tigor Pribadi, Klub Rasuna's Marketing Manager, said the club aims to become the best sports club in Jakarta, with the highest standard of service.

S'pore overtakes Taiwan in Vietnam

S'pore overtakes Taiwan in Vietnam HANOI (AFP): Singapore has become the number one foreign investor in terms of approved investments in Vietnam, overtaking Taiwan, a source at Singapore's embassy here said yesterday. The embassy source said Singapore has projects worth about US$4.7 billion in approved investment, with close to 150 projects licensed. Second-ranking Taiwan has 263 projects worth nearly $4 billion, according to a report in the Thanh Nien newspaper yesterday.

Wynne wins at Blenheim tennis

Wynne wins at Blenheim tennis JAKARTA (JP): Wynne Prakusya of Indonesia beat Tanja Lang of Germany 6-1, 6-2 yesterday at the Ansett Women's International Tennis Event in Blenheim, New Zealand. Wynne is to meet Marisue Jacutin of the Philippines today. Coach Sri Utaminingsih expected Wynne to reach the semifinals. Wynne and partner Eny Sulistyowati beat compatriots Marieke Gunawan/Wukirasih Sawondari 6-1, 6-2. Wynne/Eny to challenge Tze Ting Weng/Julie Huang of Chinese Taipei.

AIDS medication for women

AIDS medication for women JAKARTA (JP): The Indonesian Association of Doctors Concerned about AIDS announced yesterday the availability of a medication to prevent the spread of the syndrome to babies during pregnancy, delivery and nursing. Chairman Samsuridjal Djauzi said the medication zidovudine, developed a decade ago, is designed to prevent the spread of Human Immunodeficiency Virus (HIV) from mother to child.

Starr subpoenas Lippo documents

Starr subpoenas Lippo documents WASHINGTON (Reuter): Whitewater prosecutor Kenneth Starr has subpoenaed all White House documents on 14 individuals and subsidiaries of Indonesian financial conglomerate Lippo Group, White House officials said Tuesday.

The fate of workers

The fate of workers The government-sponsored bill on manpower has not even been debated by the House of Representatives, but some labor activists are already hot under the collar, calling the proposed legislation too restrictive for workers. Last week, it was Bomer Pasaribu, a member of the executive board of the All Indonesian Workers Union (SPSI). As a legislator privy to the bill, Bomer said the proposed legislation, if passed, would "castrate" existing workers' rights.

Six men burgle house in Bekasi

Six men burgle house in Bekasi JAKARTA (JP): Six men broke into a house at Jati Bening, Bekasi, some 20 kilometers east of here yesterday, stabbed the owner and made off with 60 grams of gold. The house owner, Rachmat, 30, told police he woke as the burglars broke down his back door at 4:00 a.m. Rachmat said the six men entered his bedroom as he was trying to get up and one of the unidentified men attacked him and stabbed him in the back.

Deal with Police mutually beneficial says developer

Deal with Police mutually beneficial says developer JAKARTA (JP): The developer of the planned new City Police headquarters said the barter agreement between the company and the police would be mutually beneficial given tight control by the government. Moniek S.W.

Six steal Rp 25m in goods from couple

Six steal Rp 25m in goods from couple JAKARTA (JP): Six burglars threatened a South Jakarta couple at knifepoint yesterday, tied them up and stole goods worth Rp 25 million (US$10,416). South Jakarta Police Chief Lt. Col. Sisno Adhi Winoto said the six unidentified men broke into the couple's house on Jl. Seratus in Jagakarsa district in the early morning. "The house owner, Cecep Muhamad Fatoni woke up when he heard a noise in the living room," Sisno said.

Amien Rais, a victim of outspokenness and politicking

Amien Rais, a victim of outspokenness and politicking By Arief Budiman SALATIGA, Central Java (JP): All of a sudden, Dr. Amien Rais, the chairperson of Muhammadiyah, had to give away his prestigious position as the Head of the Council of Experts of the Association of Moslem Intellectuals (ICMI). According to ICMI chairperson, Dr. B.J. Habibie, it was Rais himself who asked to resign due to his heavy workload as the chair of Muhammadiyah, the second biggest Moslem organization in Indonesia.

Crucial issues in RI's polls

Crucial issues in RI's polls Why would Gen. Faisal Tandjung, chief of the Armed Forces (ABRI), take the unusual step of pledging the military's support to Golkar? It has by tradition been neutral in politics: soldiers do not vote in national elections and ABRI gets a fixed representation of 75 seats in the 500-seat parliament to give substance to its dual function of guaranteeing state security and its social role. What Gen.

Subway will start in June

Subway will start in June JAKARTA (JP): Construction of the long-awaited subway will start on June 1 with or without a presidential decree, the chairman of the project's consortium has promised. Aburizal Bakrie, who heads the Indonesian Japanese European Group consortium, said yesterday the government had given the green light to the investors to begin the US$2.2 billion project.

Mines Ministry denies authority

Mines Ministry denies authority JAKARTA (JP): The Ministry of Mines and Energy denied it was responsible for issuing permits for sand quarrying in North Jakarta. The ministry's public relations office announced Friday that the ministry issued permits for off-shore sand quarrying in general. But permits for companies operating in the Seribu Islands and in the Jakarta Bay are issued by the municipality. The decision of the ministry was signed in November 1985.

Importers warn about WTO ruling violations

Importers warn about WTO ruling violations JAKARTA (JP): Importer countries may impose discriminatory tariffs and tariffs exceeding the World Trade Organization's (WTO) bound rates if there is evidence imported products are sold at dumped prices, an official said yesterday. The Chairman of the Indonesian Anti Dumping Committee, Taufiek Abbas, said importers may violate WTO rulings if imports were sold at dumped prices, especially if they harmed the importer country's domestic market.

Garbage exports

Garbage exports From Bisnis Indonesia The Bantar Gebang garbage dumping site east of Jakarta receives a daily average of 20,000 tons of organic waste from the Greater Jakarta area. This situation brings forth complex problems but at the same time opens business opportunities.

Jakarta Fair committee to rent bus routes

Jakarta Fair committee to rent bus routes JAKARTA (JP): The committee organizing the 30th Jakarta Fair in June vowed to overcome the annual transport problems by renting buses on existing routes and paying incentives to drivers. Since the Jakarta Fair moved from the Monas National Monument Park to the Kemayoran Fairgrounds in Central Jakarta, people without private cars have complained of the lack of public transport.

Catholics welcome their bishop's election message

Catholics welcome their bishop's election message JAKARTA (JP): The Bishops Council of Indonesia's recent statement encouraging Indonesian Catholics to go to the polls on May 29 and exercise their political right has received a warm welcome from devotees. Some of the Catholics interviewed by The Jakarta Post said they did not feel obliged to support any particular party because the statement also said they were free to vote as they wished.

Kennedy a rabblerouser: Marzuki

Kennedy a rabblerouser: Marzuki JAKARTA (JP): An Indonesian human rights activist has branded United States Congressman Patrick Kennedy a rabble-rouser for his reported plan to introduce a bill to cut off U.S. aid to Indonesia. Alleged human rights abuses in East Timor, which Kennedy used as the basis for his campaign, has been a hot topic recently, Marzuki was quoted by Antara as saying yesterday.

Cathay improves services

Cathay improves services JAKARTA (JP): Passengers flying Cathay Pacific between Indonesia and Hong Kong will enjoy their own television set in all first, business and economy class seats starting next month. Cathay Pacific's manager in Indonesia, Gregory Hughes, said yesterday the service improvement plan, particularly the introduction of personal televisions in economy class, was part of a US$150 million services upgrade.

Ministry testifies in magazine case

Ministry testifies in magazine case JAKARTA (JP): A Ministry of Information witness testified in court yesterday that the editorial board of an unlicensed magazine was responsible for its publication. Bambang Wahyudi, head of the publication permit section of the ministry, was testifying in a trial of a man charged with defaming President Soeharto by printing an unlicensed magazine, Suara Independen.

Officer punches female reporter

Officer punches female reporter YOGYAKARTA: A female reporter of the Jakarta-based D&R magazine was punched on the side of the neck by a member of Bantul regent Col. Sri Roso Sudarmo's police squad yesterday. The reporter, Idayani, was among the dozens of journalists trying to get close to the controversial regent for comments on a canceled beach resort project.

Stock Exchange

Stock Exchange Stock prices on the Jakarta Stock Exchange (in rupiah) on March 5, 1997: Shares Close Change Trading Volume ----------------------------------------------------------- Dharmala Insurance 1,500 0 0 Ades Alfindo 1,175 0 0 Andayani Megah 1,025 0 392,500 AHAP Insurance 2,675 0 0 Argha Karya Prima Industry 3,300 75 7,500 Aneka Kimia Raya 1,250 -25 548,000 Alter Abadi 1,175 25 228,000 Alumindo Perkasa 775 -25 136,000 Alumindo Light Metal 1,250 -25 1,099,500 Asahimas Flat 1,450 -25...

Bahana Artha helps set up 20 venture capitals

Bahana Artha helps set up 20 venture capitals JAKARTA (JP): State-owned venture capital firm PT Bahana Artha Ventura has set up 20 smaller venture capital firms in most major provinces in cooperation with local businesspeople since 1994. The company's president, Hafiz Arif, said yesterday Bahana Artha and its partners had injected Rp 85.9 billion (US$36.25 million) equity into the 20 venture capital companies as of January this year.

Where to go in Bandung:

Where to go in Bandung: Music and Entertainment * Chedi Hotel, Jl. Rancabentang 56-58: Job (Pianist), 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 (Pianist), 5 p.m. to 10:30 p.m. * International Imperium Hotel, Jl. Dr. Rum No.

Cologne textile fair 1997

Cologne textile fair 1997 JAKARTA (JP): The organizing committee of the International Fair Clothing Machinery 1997 has invited Indonesian machinery and textile producers to participate in the fair being held from June 3 to June 7 in Cologne, Germany. Wilhelm Niedergoker, the executive director of the exhibition, said here yesterday the international fair would be the biggest fair of its kind in the world, with participants reaching around 650.

Inflation rate 1.05% in February

Inflation rate 1.05% in February JAKARTA (JP): Indonesia recorded a trade surplus of US$6.94 billion last year and a 1.05 percent inflation rate for February, Minister of Information Harmoko said yesterday. Harmoko said after the monthly limited cabinet meeting on economic affairs that the 1.05 percent rise in last month's consumer price index was slightly higher than the 1.03 percent posted in January. "But the inflation rate last month was the lowest level for February in five years," he said.

Cloning issue is overblown, expert says

Cloning issue is overblown, expert says By Wirasti Wiryono JAKARTA (JP): The current frenzy over genetic scientists' claims that they will soon be able to produce humans from cloned embryos is mere hype, according to a professor of molecular biology at the University of Indonesia. Sangkot Marzuki, also director of the Eijkman Institute, appeased concern over the moral and ethical threats posed by such sophisticated technology, and said that cloning was conducted for research purposes only.

Two wanted fugitives shot in North Jakarta

Two wanted fugitives shot in North Jakarta JAKARTA (JP): Two robbers were arrested Tuesday after being wounded by police bullets in two separate chases, the City Police spokesman said yesterday. Maj. Nyoman Suriasta, said the police shot Achmad, 26, of Kebon Sayur, Pademangan, and Iwan, alias Hendri, 28, of Kampung Tengkis, Pademangan, in North Jakarta. The two men were involved in another robbery at the International Trading Center shopping center, Mangga Dua, Central Jakarta last week.

No politics, please, rector

No politics, please, rector BANDAR LAMPUNG, Lampung: Lampung State University Rector Alhusniduki Hamim's legislative candidacy for the Golkar has met strong opposition. Thousands of anonymous colorful leaflets left in classrooms, corridors and on roadsides on the campus demanded yesterday that Hamim should withdraw from the election and apologize to the university.

Telephone out of order

Telephone out of order My telephone number is 8814656. I live in Housing Complex III in Bekasi, West Java. Since Feb. 6, 1997, my telephone has not been functioning and we can neither call out or receive calls. I reported the matter to Telkom in Bekasi several times but I was always told the case would be submitted to the technician, or the central network was out of order, and they asked me to be patient. It should be noted that my telephone does not work three or four times a year.

Five day holiday

Five day holiday From Kompas I agree wholeheartedly with the Kompas editorial on Feb. 19. One has to conclude that poor order and discipline prevails in some parts of the nation. The habit of ignoring regulations and the law is still rampant and has reduced the National Discipline Movement to mere lip service. Numerous regulations are being given a cold shoulder. Of course, not every Indonesian is disorderly and undisciplinary.

Microsoft launches 'Office 97'

Microsoft launches 'Office 97' JAKARTA (JP): Microsoft Indonesia launched Office 97 yesterday. Office 97 is a software generation after Office 95 introduced two years ago. The president of Microsoft Indonesia, Andy Khoo, said Office 97 was designed to enable internet users to maximize internet technology. Office 97 is equipped with a facility which can accommodate 50 percent of codes to be used simultaneously by applicants compared to only 12 percent in Office 95.

Pension funds urged to invest in mutual funds

Pension funds urged to invest in mutual funds JAKARTA (JP): The Minister of Finance has issued a new ruling encouraging pension funds to invest in mutual funds to help build a strong domestic base for local stock markets. Finance ministerial decree No. 93/KMK.017/1997, dated February 28, stipulates pension funds can invest a portion of their funds in mutual funds.

Bintang to be queried over Idul Fitri cards

Bintang to be queried over Idul Fitri cards JAKARTA (JP): Rebel politician Sri Bintang Pamungkas is to be questioned over his Idul Fitri cards in which he advised the recipients to boycott the election and reject President Soeharto's reelection. Attorney General Singgih said yesterday he had ordered government prosecutors to summon Bintang to account for the antigovernment messages. "I have ordered an investigation.

Clobber threat should not be taken seriously

Clobber threat should not be taken seriously President Soeharto's recent statement to "clobber" anyone attempting to unseat him unconstitutionally has received widespread comments. Scholar Yusril Ihza Mahendra shares his view with The Jakarta Post. Question: How do you interpret the president's statement? Answer: What the president said is actually a description of the mechanism in our constitution.

Interest in literature

Interest in literature From Kompas Sometime ago, I held a book and manuscripts of literature exhibition which ran for five days beginning on Jan. 25. The exhibition was held at the HB Jassin Library Complex at Taman Ismail Marzuki, Cikini Raya, Jakarta, and was sponsored by the same foundation. The exhibit attracted 20 members of the public each day, mostly people interested in literature, students and journalists.

Where to go in Jakarta:

Where to go in Jakarta: Music * 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. 7 Bar; Duet pianist and singer, Sunday - Thursday, Quartet Jazz, Friday, Ikapari Country Band, Saturday. * Le-Meridien, Jl. Jend. Sudirman Kav.

Greater Jakarta unification idea gets poll support

Greater Jakarta unification idea gets poll support JAKARTA (JP): Subjects of a recent poll support merging Jakarta, Bogor, Tangerang and Bekasi into one administration for security reasons. Conducted last year by data consultants Jarisa and the daily Media Indonesia, the poll showed 58.5 percent of respondents agreed Jakarta, Bogor, Tangerang and Bekasi should be united. The poll randomly surveyed respondents aged between 17 and 55 years.

Hyundai-Citraland deal

Hyundai-Citraland deal SEOUL (UPI): South Korea's Hyundai Construction Co. Ltd. has won a US$30-million contract to build the foundation for an office and hotel complex in Indonesia, a spokesman said yesterday. Indonesian client Citraland Adigraha Co. is building a 900- room hotel, a six-story shopping mall and an eight-story office building, spokesman Shin Jae-chul said. The South Korean company plans to have the base built for the complex by November, the spokesman said.

Lack of treatment at Medistra

Lack of treatment at Medistra My four-year-old son suffers from asthma. He was taken to Medistra at about 7:45 a.m. on Feb. 27, under the advice of our regular pediatrician, having been taken seriously ill in the early morning hours. We hoped Dr. Bathuna or Dr. Soedigdo -- pediatricians attached to Medistra -- would see him. My child was told to wait in the emergency room for Dr. Bathuna.

Sentul circuit impresses 250cc champion Beaggi

Sentul circuit impresses 250cc champion Beaggi JAKARTA (JP): Three-time 250cc motorcycle world champion Max Biaggi said yesterday he was impressed by the Sentul circuit near Bogor. "The track at the Sentul circuit is good for both motorcycle and car races. I believe it is the best in Southeast Asia," Biaggi said. He was accompanied by Minister of Youth Affairs and Sport Hayono Isman, Tinton Soeprapto, the circuit's manager and an official from Marlboro.

Kiani seeks $120m loan

Kiani seeks $120m loan HONG KONG (Reuter): Indonesian pulp and paper producer PT Kiani Kertas has mandated three banks to arrange a US$120 million loan facility, bankers said yesterday. They said the deal was guaranteed by the company's commissioner, Mohammad Bob Hasan. The three arrangers are Chiao Tung Bank, Korea Exchange Bank and Sumitomo Bank. The amortizing facility has a final maturity of three years and eight months.

Manado to host W. Cup qualifier

Manado to host W. Cup qualifier JAKARTA (JP): The Indonesian Football Federation has chosen the North Sulawesi capital of Manado to host an Asian zone World Cup qualifier between Indonesia and Yemen on April 13. Jeffrey Talumepa, the secretary of Manado's Persma club, said in Manado Tuesday that organizers were preparing for the match. "One of the preparations is the renovation of the Klabat Stadium as the venue.

Bank liquidation not easy, says Soedradjad

Bank liquidation not easy, says Soedradjad JAKARTA (JP): Liquidating ailing banks is not easy because it involves many parties, Bank Indonesia Governor J. Soedradjad Djiwandono said yesterday. Speaking before the monthly cabinet meeting on economic affairs the governor reiterated that banks should be liquidated if efforts to bail them out failed. "If a bank is already in serious trouble, why not simply put it into liquidation," Soedradjad said.

Few Indonesians study in NZ

Few Indonesians study in NZ MEDAN, North Sumatra: Only 1,500 Indonesians are currently studying in New Zealand universities, Antara quoted New Zealand Ambassador Tim Groser as saying. The number is far smaller than the number of Indonesians in Malaysia, where there are up to 900 at one university, Groser said in a meeting with the Rector of the University of North Sumatra, Chairuddin P. Lubis, and a number of state university lecturers.

Art Events

Art Events Photographies: Photographs by David Massabuau at CCF, Jl. Salemba Raya 25, Central Jakarta, Ph. 3908580, 3908585 March 6 until March 26 An exhibition of photographs by David Massabuau is being held at the French Cultural Center's exhibition gallery. The young French photographer traveled around Indonesia for two years, "trying to render a country and depict a naturalistic and realistic portrait of a nation" through his documentary photographs.

Nostalgia felt as Indians mark independence day

Nostalgia felt as Indians mark independence day By L. Sailaja Kumar JAKARTA (JP): Mother and motherland are probably the only two identities holding the highest prestige in the heart and soul of every individual. Perhaps no one else can understand the pain of staying away better than the one who is experiencing it. Talking about missing one's native land is not just describing the agony of nostalgia but the ecstasy that surges through you once you get a "feel" of your country.

Pulogadung terminus

Pulogadung terminus From Media Indonesia Traffic congestion at the Pulogadung bus terminus in East Jakarta is becoming worse by the day. Traffic regulations are apparently enforced but road capacity is not proportionate with traffic volumes. In order to reduce the congestion I propose the following steps: 1. The Pulogadung terminus should follow the regulations applied at the Block M terminus in Kebayoran Baru. Incoming buses only stop to unload and load passengers, then leave the terminus.

Sorong regent faces Rp 225 billion lawsuit

Sorong regent faces Rp 225 billion lawsuit JAKARTA (JP): Tribal people in Inanwatan and Aitinyo subdistricts, Irian Jaya, have sought compensation of Rp 225 billion (US95 million) from Sorong regent Jhon Piet Wanane following the destruction of three million sago trees. In a report addressed to the minister of home affairs in Jakarta, the Irian natives said the tree felling was particularly regrettable as sago was their staple food. Antara did not say when the natives would file their lawsuit.

170 W. Kalimantan riot suspects seek legal aid

170 W. Kalimantan riot suspects seek legal aid JAKARTA (JP): One hundred and seventy suspects detained for their alleged role in the recent West Kalimantan ethnic riots sought legal aid yesterday from the local chapter of the Indonesian Bar Association (Ikadin), a lawyer said. Akil Mochtar said the requests for aid were submitted by police and local non-governmental organizations to the association's team of lawyers.

Food reserves to be developed

Food reserves to be developed BANDA ACEH, Aceh: The government is to cultivate one million hectares across the country for food reserves, State Minister for Food Ibrahim Hasan has said. "The food reserve program will start this year with the cultivation of 100 hectares. Next year, it will involve private companies," he was quoted by Antara as saying. The program is meant to help ensure that no food shortages occur, especially during emergencies such as war or floods.

Thailand fights run on deposits

Thailand fights run on deposits BANGKOK (AFP): The central Bank of Thailand yesterday moved to try to brake a US$1.2 billion run on deposits at the country's troubled finance companies and credit fonciers, but payouts continued apace. Depositors have cashed in almost 30 billion baht ($1.2 billion) worth of company promissory notes since last week, according to figures supplied by senior central bank officials.

Six Jakarta climbers missing on Mount Semeru

Six Jakarta climbers missing on Mount Semeru JAKARTA (JP): Rescue workers failed yesterday to find six mountain climbers reported missing on Mount Semeru in East Java. A Search and Rescue (SAR) official at the West Poncokusumo Command Post, Waris, told The Jakarta Post that three SAR groups swept the eastern part of the mountain but found no sign of the climbers from Jakarta. The SAR groups were from the East Java Mobile Police Brigade, the Mahameru Group of Nature Lovers and the Malang regency.

Askes earns Rp 60.5 billion

Askes earns Rp 60.5 billion JAKARTA (JP): The health insurance company, PT Asuransi Kesehatan (PT Askes), which caters to civil servants and employees of private companies, posted Rp 60.5 billion (US$25.5 million) in profits by the end of 1996, its financial director said. Priyono Ansari told Antara news agency in Dili, East Timor that the company provided health insurance to 16 million civil servants and employees of private companies.

Malaysian universities to go corporate

Malaysian universities to go corporate The government wants to transform state-run universities into autonomous business ventures. But as Anil Noel Netto of Inter Press Service reports, academics are cool to the plan. PENANG, Malaysia: Plans to `corporatise' Malaysia's state-run universities are causing concern among academics who worry that a 'corporate' education sector will focus mainly on business- related classes at the expense of intellectual pursuit.

Selling of blue chips pulls index down

Selling of blue chips pulls index down JAKARTA (JP): Share prices on the Jakarta Stock Exchange (JSX) continued losing ground yesterday due to the large sales of blue chip stocks. Brokers and analysts said trading activity was dull as investors feared the U.S. Federal Reserves would hike interest rates. JSX composite index dropped 9.36 points to close at 686.16 from 695.52 the previous day with losers leading gainers at 114 to 31, while another 49 shares went unchanged.

Mia Audina seeded No.1 for next week's All England

Mia Audina seeded No.1 for next week's All England JAKARTA (JP): World No. 1 and Olympic silver medalist Mia Audina of Indonesia has topped the International Badminton Federation's seedings for the All England Open Badminton Championships in Birmingham next week. Compatriot Susi Susanti, who married last month, has been seeded fifth for the US$150,000 tournament from March 11 to March 15.

Singapore leaders step up court fight

Singapore leaders step up court fight SINGAPORE (DPA): Singapore leaders suing an opposition political figure for defamation have asked the nation's High Court to strike out his defense, news reports said yesterday. If they are successful, they can ask the court for costs and damages without a trial.

British mission due here

British mission due here JAKARTA (JP): The British Airport Services and Equipment Association, including 10 British aerospace enterprises, will visit Indonesia from March 10 to March 14. The British Embassy said yesterday the mission would represent companies operating in aviation, avionics and airport equipment.

Darya-Varia posts $9.97m in profit

Darya-Varia posts $9.97m in profit JAKARTA (JP): Publicly listed pharmaceutical maker PT Darya- Varia Laboratoria reported a 49.1 percent increase in net profit to Rp 23.73 billion (US$9.97 million) for 1996, from Rp 15.86 billion in 1995. Net sales rose 49 percent to Rp 203.2 billion in 1996 from Rp 136.3 billion the previous year. The statement said the better-than-expected profit was because of the acquisition of PT Pradja-Pharin and PT Pradja Pharma.