Indonesian Political, Business & Finance News

Archive: 11 June 1997

59 articles found

Acasia set to make inroads into ASEAN telecoms market

Acasia set to make inroads into ASEAN telecoms marketBy I. Christianto SINGAPORE (JP): Acasia Communications Sdn. Bhd, a joint venture of six major ASEAN telecommunications carriers, is set to make major inroads into the telecommunications businesses of its regional and global customers in...

Bakrie Sumatra Plantation projects 20-30% profit growth

Bakrie Sumatra Plantation projects 20-30% profit growth JAKARTA (JP): PT Bakrie Sumatra Plantation, the agroindustry arm of the Bakrie Group, projects a profit growth of between 20 percent and 30 percent this year despite the decreasing trend in world rubber prices, it said yesterday.

Scholar slams 'link and match' concept

Scholar slams 'link and match' concept JAKARTA (JP): The government's program linking schools and universities to the needs of the industrial world goes against the basic concept of education, literature expert Umar Kayam says.

Armed Forces gets four more full generals

Armed Forces gets four more full generals JAKARTA (JP): Four officers of the Armed Forces were promoted in rank yesterday to become full four-star generals, Antara reported.Wiranto, chief of the Army's Strategic Reserves Command (Kostrad), was promoted on the eve of his appointment as Army chief of...

Court nullifies local NBA brand and logo

Court nullifies local NBA brand and logo JAKARTA (JP): The Central Jakarta District Court nullified yesterday the NBA brand and logo registered by a local businessman at the Directorate General of Copyrights, Patents and Trademark, No. 291142.U.S.-based NBA Properties Inc.

LG Group enters Vietnam

LG Group enters Vietnam HANOI (AFP): South Korea's LG Group has received a licence to build a US$7.7 million joint-venture factory to produce water pumps in the northern Vietnamese port of Haiphong, a company executive said yesterday.Lee Sang-Mo, regional managing director of LG International Corp.

Six local wrestlers to compete in Europe

Six local wrestlers to compete in Europe JAKARTA (JP): Six South Kalimantan wrestlers chosen for the national Southeast Asian (SEA) Games team will compete in several trial matches in Europe.The athletes are three brothers Andri (62 kilograms), Zulhaidir (56 kilograms) and Novrizal (68 kilograms),...

Japan asks for car tariff cuts

Japan asks for car tariff cuts JAKARTA (JP): Minister of Industry and Trade Tunky Ariwibowo said yesterday Japan had asked for tax and import tariff reductions during its new round of talks with Indonesia on the national car policy.

Keeping the faith

Keeping the faithFrom PelitaThe importance of being devout and afraid of God is deeply rooted in the Indonesian people. For example, when a person is appointed as a government official he or she must be a devout religious follower.

JSX warns of delisting companies

JSX warns of delisting companies JAKARTA (JP): The management of the Jakarta Stock Exchange (JSX) pledged yesterday to delist companies which no longer meet listing requirements.JSX director Mas Achmad Daniri said a delisting measure was needed to protect investors and encourage listed companies to...

Spotlight

SpotlightPhoto A: BusinessmenJP/alxBUSINESS AT HAND: Indrawan Masrin (left), president of PT Lautan Luas Tbk, chats with Didi Yahya (second from left), director of Jardine Flyming Nusantara, Pranata Hajadi (second from right), and Widiyan after PT Lautan's public expose at Shangri-la Hotel in...

Juniors serve up trouble to Suwandi and Sulistyo

Juniors serve up trouble to Suwandi and Sulistyo JAKARTA (JP): Indonesian Davis Cup players Suwandi and Sulistyo Wibowo struggled on the second day of the national selection round robin matches at Senayan Tennis Complex before overcoming their opponents.

Bank scam

Bank scamCorrection: Our headline Police seize assets of Bank Artha suspect on this page on Monday, should have read Police seize assets of Bank Arta Prima suspect. We regret the error. -- Editor

East Timorese leaders to petition UN committee

East Timorese leaders to petition UN committee JAKARTA (JP): Five prointegration East Timorese leaders will travel to New York to take part in a United Nations' meeting on decolonization next week, Antara reported yesterday.Economist Domingos M.

Dieng Temple lies in ruin

Dieng Temple lies in ruin DIENG, Central Java: Dieng Temple, the oldest temple in Central Java, has been waiting in vain for restoration because archeologists have no idea of its original structure.The temple on the scenic Dieng plateau has remained in ruins while experts and government officials...

Babies security first

Babies security first In response to the letter Bunda baby blues published in The Jakarta Post (June 4) we, on behalf of the management and staff, would like to apologize for the inconvenience Mrs. Ade and her husband experienced.

NEC launches RI semiconductor plant

NEC launches RI semiconductor plant JAKARTA (JP): Japan's NEC Corporation officially launched yesterday its US$45 million semiconductor plant in Indonesia.The plant, officially opened by Minister of Industry and Trade Tunky Ariwibowo, is operated by PT NEC Humpuss Semiconductors Indonesia, a joint...

JIHD to float Rp 600b in bonds

JIHD to float Rp 600b in bonds JAKARTA (JP): Publicly listed PT Jakarta International Hotels and Development (JIHD) will float five-year bonds worth Rp 600 billion (US$250 million) next month.JIHD's director of finance, Budiman Effendi, said here yesterday that the bonds would strengthen the...

Local PPP chief resigns

Local PPP chief resigns CILACAP, Central Java: Local chief of the United Development Party (PPP) resigned yesterday because of a disappointing election outcome.Ahmad Mujibudin, a candidate for the local legislative body for the 1998-2003 period, said he would focus on his Islamic boarding school...

Radio to monitor Sulawesi forest

Radio to monitor Sulawesi forest KENDARI, South East Sulawesi: To protect the province's remaining forests, the local government will install an integrated radio communication system, connecting at least 109 points in the field, a local forestry official said yesterday.

Arisamandiri gets $27 million loan

Arisamandiri gets $27 million loan JAKARTA (JP): PT Arisamandiri Pratama, a Semarang-based plastics manufacturer, signed yesterday a US$27 million syndicated loan from 11 local and foreign banks.The loan was co-arranged by publicly listed Bank Umum Servitia and Hong Kong's Indover Asia Limited.

Stock Exchange

Stock ExchangeStock prices on the Jakarta Stock Exchange (in rupiah) on June 10, 1997: Shares Close Change Trading Volume ---------------------------------------------------------- Ades Alfindo 1,625 125 838,500 AHAP Insurance 2,675 0 0 Alter Abadi 1,000 0 6,500 Alumindo Light Metal 1,125 -25...

Brunei refuses to host 1999 SE Asian Games

Brunei refuses to host 1999 SE Asian Games JAKARTA (JP): Brunei Darussalam rebuffed the Southeast Asian (SEA) Games Federation for the second time yesterday when it refused to host the 20th biennial event in 1999.

Crash course for legislators not compulsory

Crash course for legislators not compulsory JAKARTA (JP): President Soeharto said yesterday that the crash course which State Minister of Special Assignments Harmoko was preparing for new legislators was not compulsory.

Philippine steel mill

Philippine steel mill MANILA (AFP): Philippine President Fidel Ramos and visiting Singapore Prime Minister Goh Chok Tong announced yesterday agreements on the building of a Philippine steel mill and a polytechnic university.

Police shoot two alleged robbers

Police shoot two alleged robbers JAKARTA (JP): Police arrested five men and shot two others yesterday for alleged involvement in robberies at homes in Tangerang.City Police Spokesman Lt. Col. E. Aritonang said that the two were shot dead because they attacked officers during yesterday's raids in...

ASEAN official in Myanmar

ASEAN official in Myanmar YANGON (Reuter): Malaysian foreign minister Abdullah Ahmad Badawi arrived here yesterday to formally notify Myanmar of its admission next month into the Association of Southeast Asian Nation (ASEAN), government officials said.

More public input clled for on environment bill

More public input clled for on environment bill JAKARTA (JP): The House of Representatives welcomes more public input in its deliberation of the environment law amendment bill, a Golkar legislator said yesterday.Legislator Didin S.

S'pore to ease need for KL water

S'pore to ease need for KL water SINGAPORE (AFP): Singapore announced yesterday it would raise water tariffs and build a desalination plant to make seawater potable in a bid to reduce its dependence on water piped in from neighboring Malaysia.

Petronas interested in Texaco's Myanmar stake

Petronas interested in Texaco's Myanmar stake KUALA LUMPUR (Reuter): Malaysian national oil firm Petronas is studying the purchase of Texaco Inc's 42.9 percent stake in Myanmar's Yetagun gas field, president and chief executive Hassan Marican said yesterday.

Singaporean deported

Singaporean deported JAKARTA (JP): A Singaporean man, who was arrested Thursday for abusing his short stay visit visa by working for a security company in West Jakarta, was deported yesterday.Immigration department spokesman Mursanudin A.

Confidence in PDI

Confidence in PDIFrom Media IndonesiaIt is saddening that the Indonesian Democratic Party (PDI) obtained very few votes in the recent election. Why is it saddening? PDI may only get 10 seats in the House of Representatives (DPR).

Training course on hotel taxation

Training course on hotel taxation JAKARTA (JP): The municipality will hold a taxation training course for hotel and restaurant businesspeople today in a bid to disseminate information on Regional Regulation No. 5/1996 on development income.

CN-235 plane crash caused by human error: Team

CN-235 plane crash caused by human error: Team JAKARTA (JP): A military investigation team has found that the recent crash of a locally built aircraft was caused by human error and that there was nothing wrong with the airplane.The chief of the Ministry of Defense and Security's team, Lt. Col.

Bombing, cyanide destroy coral reefs

Bombing, cyanide destroy coral reefs JAKARTA (JP): Fish bombing and cyanide are to blame for the widespread destruction of coral reefs in Indonesia, researchers said yesterday.Graham Usher of the World Wide Fund for Nature Indonesia Program and Suharsono of the National Institute of Sciences, said...

Government cuts container waiting time at ports

Government cuts container waiting time at ports JAKARTA (JP): The government decided yesterday to cut the time importers can store their containers free of charge at the city's Tanjung Priok port from six days to three days, effective Aug. 1.

Where to go in Jakarta:

Where to go in Jakarta:Music * Hotel Horison, Jl. Pantai Indah, Taman Impian Jaya Ancol, North Jakarta: - The Anging Mamiri Garden: Fantastic Group from Philippines, Ever Green Hawaiian Band/Orkes Keroncong, Hula-hula Dances, every Saturday Night, 7 p.m. to 10:30 p.m.

Alcatel wins China's order

Alcatel wins China's order SINGAPORE (Reuter): French telecoms equipment group Alcatel Alsthom said yesterday it had won a US$58 million extension order in China to supply network infrastructure equipment.

TV today

TV todayTVRI 2:30 p.m. News: Lintas Nusantara 2:40 Travel: My Country 2:45 Family's Film: Road to Avonlea 3:10 Children's Program: Anak-Anak Indonesia 3:35 Talk Show: Kotak Pos 4:00 Regional News 4:30 Educational Quiz: Cepat Tepat 5:10 TV Series: Topacio 5:55 Music 6:00 News: Lintasan Berita 6:05...

PT Jasindo to insure four new RI satellites

PT Jasindo to insure four new RI satellites JAKARTA (JP): The state-owned loss insurance company, PT Jasindo, will lead a consortium of local and foreign insurance firms to insure four new Indonesian-operated satellites for about US$350 million each.

Indocopper's profit up

Indocopper's profit up JAKARTA (JP): PT Indocopper Investama Corporation, a mining subsidiary of the Bakrie Group, recorded a 62.8 percent increase in net profit to Rp 56.46 billion (US$23.5 million) in 1996, the company said yesterday.

Cancelled F-16 purchase

Cancelled F-16 purchase The deed has been done. In protest, the Indonesian government has canceled the deal to buy eight American F-16As and one F-16B fighter/attack aircraft for the Indonesian Air Force (TNI-AU).

Recycled waste markets collapse

Recycled waste markets collapse SYDNEY (Reuter): The Western world's penchant for recycling has produced such huge mountains of unsold waste that markets in used paper, plastic and bottles have collapsed.

Putra Surya to raise its equity subsidiary

Putra Surya to raise its equity subsidiary JAKARTA (JP): Publicly listed PT Putra Surya Dumai Industry, a plywood producer, will increase its equity capital in one of its subsidiaries, PT Perawang Lumber Industry, by Rp 88.6 billion (US$36.

Kebayoran Lama drivers protest new bus operation

Kebayoran Lama drivers protest new bus operation JAKARTA (JP): At least 2,000 public transport drivers plying the Tanah Abang-Kebayoran Lama route went on strike yesterday after a new bus route was discovered to pass a similar route.

APEC rapid growth costs environmental demage: Critics

APEC rapid growth costs environmental demage: Critics TORONTO (AFP): Stunning economic growth in many Asia Pacific Economic Cooperation (APEC) economies has been achieved at the cost of severe environmental degradation, environmentalists warned here yesterday.

City Police asked to help safeguard entrance exam

City Police asked to help safeguard entrance exam JAKARTA (JP): The organizing committee of the state university entrance exam has asked the City Police to help safeguard the upcoming exam against joki, an executive said.

PTP wants to be sweeter

PTP wants to be sweeter JAKARTA (JP): State-owned plantation PTP Nusantara X in Surabaya, East Java, plans to raise its sugar production by about 30,000 tons this year to 470,000 tons by maximizing the processing capacities of its 12 sugar mills.

RI beats RP in Nike Premier Cup

RI beats RP in Nike Premier Cup JAKARTA (JP): Indonesia beat the Philippines 4-1 yesterday in the under-14 Asia-Pacific Nike International Premier Cup at South Jakarta's Soemantri Bodjonegoro stadium.The four goals came from Bambang Susanto in the 16th minute, Erik Setiawan in the 29th, Nurdien in...

Foreign investment drop temporary: Minister Sanyoto

Foreign investment drop temporary: Minister Sanyoto JAKARTA (JP): State Minister of Investment Promotion Sanyoto Sastrowardoyo said yesterday there was a 36-percent drop in foreign investment approvals in the first five months this year due to the recent election, but said the trend was temporary.

Jakarta court rejects Mega supporter's suit

Jakarta court rejects Mega supporter's suit JAKARTA (JP): The South Jakarta District Court ruled yesterday that it did not have the jurisdiction to continue hearing a lawsuit lodged by a supporter of Megawati Soekarnoputri against a former chief of the Jakarta Police Detectives.

S'pore, RP leaders meet to normalize ties ofter hanging

S'pore, RP leaders meet to normalize ties ofter hanging MANILA (AFP): The Singaporean and Philippine leaders met here yesterday in an attempt to revive bilateral ties darkened for two years by the hanging of a Filipina maid.

Fishermen question fishery agency policy

Fishermen question fishery agency policy JAKARTA (JP): City councilors urged the fishery agency yesterday to investigate the alleged unfair allocation of auction spaces in North Jakarta's fish market.Chairman of Commission B for Economic Affairs Sahala Sinaga said he believed the alleged unfair...

Bank Panin to launch FRCD

Bank Panin to launch FRCD HONG KONG (Reuter): PT Pan Indonesia Bank (Bank Panin), acting through its Cayman Islands branch, will launch a US$65 million floating rate certificates of deposit issue, the sole arranger Oversea-Chinese Banking Corp said yesterday.

Security delays exams in Sampang

Security delays exams in Sampang SAMPANG, East Java: A guarantee of police security was not enough to convince teachers from three elementary schools to return to work, further delaying students exams.Head of the local education and culture office, Mohammad Bakir, said Monday the teachers were...

Blok M district to be renovated: Urban planner

Blok M district to be renovated: Urban planner JAKARTA (JP): The Blok M district in South Jakarta will be renovated in anticipation of two upcoming mass rapid transit projects -- a subway system and a three-tier transit system, an urban planner said yesterday.

Sukarno's house of exile in Bangka dilapidated

Sukarno's house of exile in Bangka dilapidated JAKARTA (JP): A historical rest house in South Sumatra where several independence heroes were exiled by Dutch colonial rulers is dilapidated, a press report said yesterday.

U.S. says rights record affects ties with Jakarta

U.S. says rights record affects ties with Jakarta JAKARTA (JP): A senior United States official warned yesterday that a fully robust bilateral relationship could not happen unless Indonesia improved its human rights record.

Rhino population dwindling in Jambi

Rhino population dwindling in Jambi JAMBI, Jambi: The Sumatran rhino population is dwindling because of poaching and deforestation, a forestry official said yesterday.Only between 200 and 300 rhinos live in the hill forests of Kerinci and Sorolangun districts in West Sumatra, the local natural...