Indonesian Political, Business & Finance News

Archive: 25 June 1997

58 articles found

Less is more for PDI legislators, say analysts

Less is more for PDI legislators, say analysts JAKARTA (JP): The Indonesian Democratic Party (PDI) may have more leverage in the House of Representatives after Oct. 1 because its 11 members may be too few to ensure smooth decision making, analysts said yesterday. Riswandha Imawan and Indria Samego said the PDI's inadequate representation meant that it could disrupt the House's decision- making process because nothing could be decided without its approval.

Delhaize-Salim retail

Delhaize-Salim retail BRUSSELS (Reuter): Belgian retailer Delhaize has signed a long-term cooperation agreement with Salim Group to develop a supermarket chain in Indonesia, said it expects 50 "Super Indo" stores to be opened in five years time. "There are already 10 stores. We see two more opening this year, and three to five next year," Delhaize's Chief Financial Oficer Jean-Claude Coppieters told Reuters.

'Prevention is key' to fight against AIDS

'Prevention is key' to fight against AIDS By Wirasti Wiryono YOGYAKARTA (JP): Doctors must continue enforcing the proper diagnosis of sexually transmitted diseases and maintain patients' confidentiality, including those infected with HIV/AIDS, a medical expert said recently. Director of the AIDS counseling and testing center Pelita Ilmu Foundation, Dr.

Tosanjaya gets $10m loan

Tosanjaya gets $10m loan JAKARTA (JP): Car parts maker PT Bakrie Tosanjaya, a subsidiary of PT Bakrie and Brothers, signed yesterday a US$10 million loan with Mitsui Leasing and Development Ltd. Bakrie said the five-year loan had an interest rate 2.15 percent above the London Interbank Offered Rate and a grace period of one year. The company said that with the loan it would raise its monthly production capacity to 2,350 tons of car parts from 1,100 tons.

Virus death toll climbs to 29

Virus death toll climbs to 29 KUALA LUMPUR (AFP): A deadly airborne virus in Malaysia's eastern Sarawak state on Borneo island claimed another two victims yesterday, taking the death toll to 29, a senior state official said. The latest victims were a six-year-old girl, who was admitted to hospital on June 10 in critical condition, and a two-year-old boy, who was hospitalized Monday, said Sarawak Deputy Chief Minister George Chan Hong Nam.

HK body to boost bank ties

HK body to boost bank ties HONG KONG (Reuter): Hong Kong's de-facto central bank will continue building ties with regional central banks and boost the territory's debt market to maintain competitiveness, Rafael Hui, secretary for financial services, said yesterday.

IPTN, the 'Post' agree to settle out of court

IPTN, the 'Post' agree to settle out of court JAKARTA (JP): The state-owned aircraft maker IPTN and The Jakarta Post agreed yesterday to settle out of court their dispute over the daily's inaccurate report on an airplane crash. After a meeting of the two parties' lawyers, the daily's chief lawyer, Todung Mulya Lubis, told a joint press conference that a settlement was in sight. "We are getting closer to the finish.

Spotlight

Spotlight Photo A: Photography JP/afs HONG KONG HISTORY: The president of the Association of Indonesia- China Economic, Social and Cultural Cooperation, Sukamdani S. Gitosardjono (right) discusses at photo from the Grand Photo Exhibition on the Story and Development of Hong Kong with Information Minister R. Hartono (center). Chinese Ambassador Zhou Gang (left) also attended the opening of the week-long exhibition at Hotel Sahid Jaya in Jakarta yesterday.

Lippo to sell HK property unit to China

Lippo to sell HK property unit to China HONG KONG (AFP): Indonesian-owned Lippo Ltd. said yesterday it would sell 8.1 percent of its Hong Kong-listed property unit to a Chinese state-owned company for 583 million Hong Kong dollars (US$75 million). Under the deal, Lippo's shareholding in Hong Kong China Ltd. will be reduced to 62 percent while the stake held by China Resources (Holdings) Co. Ltd. will rise to 9.6 percent, the company said.

Stock Exchange

Stock Exchange Stock prices on the Jakarta Stock Exchange (in rupiah) on June 24, 1997: Shares Close Change Trading Volume ---------------------------------------------------------- Ades Alfindo 2,100 50 1,451,500 AHAP Insurance 2,675 0 0 Alter Abadi 1,025 0 0 Alumindo Light Metal 1,150 25 242,500 Alumindo Perkasa 850 -50 3,000 Aneka Kimia Raya 1,325 25 6,368,000 Anwar Sierad 975 0 56,500 Apac Centertex Corp.

Gunung Agung sues Jagata for $612m

Gunung Agung sues Jagata for $612m JAKARTA (JP): The Gunung Agung group is suing PT Jagata Primabumi for US$612 million over a dispute over a purchase agreement for debt-ridden Bank Arta Prima. Gunung Agung's president, Lego Nirwhono, announced yesterday that the company had filed a lawsuit at the South Jakarta District Court last week. Gunung Agung is also demanding the court return Bank Arta Prima to it because Jagata breached their contract of sale.

Shopping for hardware

Shopping for hardware News that Indonesia is seriously considering buying military hardware, in particular jet fighters, from Russia has been a subject of considerable discussion in the past few days. This is partly due to the fact that just a few weeks ago Indonesia canceled a deal to buy nine F-16 aircraft from the United States. The decision followed on the heels of allegations made in the U.S. Senate of human rights abuses in Indonesia.

Construction sector pushes cement demand

Construction sector pushes cement demand JAKARTA (JP): The growing construction industry will increase Indonesian cement demand to 30 million tons next year from about 28 million tons this year and 15.4 million tons last year, the country's largest cement producer predicted yesterday. President of the publicly listed PT Indocement Tunggal Perkasa (ITP), Sudwikatmono, said yesterday the demand for cement would increase steadily to reach 67 million tons in 2005.

PLN, Telkom and Garuda are allowed to sell Game stickers

PLN, Telkom and Garuda are allowed to sell Game stickers JAKARTA (JP): The government has decided that from now on only three state-owned companies will be allowed to sell fund-raising stickers for the 19th Southeast Asian (SEA) Games. The state-owned companies are electricity company PLN, telephone company Telkom and the national carrier PT Garuda Indonesia Airways.

Indofood projects 45% increase in net profit

Indofood projects 45% increase in net profit JAKARTA (JP): Publicly listed PT Indofood Sukses Makmur projected yesterday its net profit would grow 45 percent to Rp 508 billion (US$205 million) this year. Company chief executive officer Eva Riyanti Hutapea said the company had reviewed its initial 15 percent profit growth target because it had better earnings prospects since the recent purchase of its six sister companies.

Local govts ordered to create relief funds

Local govts ordered to create relief funds JAKARTA (JP): President Soeharto ordered all provincial, regency and mayoralty administrations yesterday to set up disaster relief funds in their budgets. The special funds would speed up efforts to help victims of natural disasters, he said. Soeharto said preventive measures and good anticipation would help reduce the number of victims and their suffering.

Malaysia's palm oil output seen rising

Malaysia's palm oil output seen rising HAMBURG (Reuter): Malaysian palm oil output in calendar 1997 is estimated at 8.81 million tons compared with 8.39 million in 1996, Oil World newsletter said, revising an April forecast for 8.40 million. The publication cited a long biological growth cycle, better varieties and fertilizer inputs, and beneficial rain patterns. But 1998 output was likely to fall because trees needed to recover from a three-year high-yield cycle.

Old ties draw Dutch families back to Indonesia

Old ties draw Dutch families back to Indonesia By Natasha Sky JAKARTA (JP): It was love at first sight when young Ad de Leeuw was introduced to the wild jungles of Indonesia in his aunt's living room in Holland. "I remember it was 1953 and the Dutch had just been kicked out of the country. I would visit my aunt's house, and a man living there would show me pictures of a boy jumping from a tree into a river.

Dow, Sinopec in $3b deal

Dow, Sinopec in $3b deal BEIJING (AFP): U.S-based Dow Chemical Co. has signed a letter of intent with China Petrochemical Co. (Sinopec) to set up a three billion dollar joint venture in the northeastern city of Tianjin, the China Daily reported yesterday. The integrated petrochemical complex, with a projected annual capacity of 600,000 tons of ethylene, would also make related products such as polyethylene and resin.

President accepts new title

President accepts new title JAKARTA (JP): President Soeharto agreed yesterday to accept the title Indonesia's Patron of Cooperative Promoters awarded him by the Indonesian Cooperatives Council. Secretary-general of the Indonesian Cooperatives Council, Agus Sudono, said the subject was raised by the council in a meeting with Soeharto at Merdeka Palace, also yesterday. He said it was what council members wanted.

Golkar celebrates election victory, 'a gift from Allah'

Golkar celebrates election victory, 'a gift from Allah' JAKARTA (JP): Golkar chairman Harmoko led yesterday's celebration of the ruling party's landslide victory in the 1997 election, and called the win "a gift from Allah". Harmoko reiterated that the poll had proceeded according to the law. "Its results are therefore valid by law and the constitution," he told the gathering of members of Golkar's extended family, including Armed Forces Chief Gen.

Govt to keep lid on cheap housing prices

Govt to keep lid on cheap housing prices JAKARTA (JP): Minister of Public Housing Akbar Tandjung said yesterday the government would not let the cost of cheap housing rise, despite developers' requests for adequate profit. The government would maintain existing policies on cheap houses, Tandjung said after a hearing of House Commission V for housing, transportation and tourism.

Minor grievance

Minor grievance Just a minor grievance over The Jakarta Post's editing of my letter titled U.S.-RI relations (June 24). The last paragraph read as follows: "I am also sure that many diplomats would find it easier to host, say, a visiting cardinal than a visiting U.S. Congressman. But to respect a cardinal..." The original version of my final sentence may indeed have been too long.

Small traders receive training to boost business

Small traders receive training to boost business JAKARTA (JP): "Don't be surprised if there are Vietnamese shops next to yours one day". This was the message given to small traders at a workshop on how to improve their businesses. The executive director of the Indonesian Skills Foundation, Pramidio, said the training was designed to prepare small traders to compete with foreign rivals. ASEAN nations have different deadlines for the start of the ASEAN free trade association which begins in 2003.

RI reform running out of stream: Sumitro

RI reform running out of stream: Sumitro JAKARTA (JP): Indonesia's most senior economist Sumitro Djojohadikusumo shares the World Bank's concern that economic reform in the country has lost momentum. "After 15 years of continuous deregulation, I now sense a slackening commitment on the part of the government to reform the economy, while many sectors badly need improvement," Sumitro said yesterday.

An unappetizing take on Betawi food

An unappetizing take on Betawi food Beyond the hip joints, nouvelle franchises and chintz- curtained gourmet havens that compose my epicurean world lies the almost unmapped quarter inhabited by places such as the Cempaka Hotel. As the city officially commemorated its 470th birthday, the hotel lay like a sleeping giant along Jl. Letjen Suprapto, Cempaka Putih's main thoroughfare in Central Jakarta. Despite its imposing structure, the hotel seemed to reject amalgamation with the rest of the world.

Pulp mill study approval upsets environmentalists

Pulp mill study approval upsets environmentalists JAKARTA (JP): The Indonesian Forum for Environment (Walhi) criticized the government yesterday for accepting an incomplete feasibility study for the development of a giant pulp mill in South Sumatra. The study, commissioned by PT Tanjung Enim Lestari Pulp and Paper, reportedly failed to take into account the project's negative impacts on people in surrounding areas.

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. - Nelayan Bar: Sandra Lintang, Yully, Purwanto (electone & singers), Monday to Sunday, 9 p.m. to midnight. - Pondok Samudra: Dolimas Vocal Group, Saturday and Sunday, 7:30 p.m. to 10:30 p.m.

RP may raise interest rates on baht woes

RP may raise interest rates on baht woes MANILA (Reuter): Philippine interest rates could rise as the government tries to fend off any spillover from the crisis facing the Thai baht, bankers said yesterday. Treasury bill rates soared almost 50 basis points at auction on Monday after the Central Bank was forced to raise its closely- watched overnight borrowing rate twice in a month to protect the peso from any Thai-inspired attacks.

Naman Kawi gets seven years' jail for bank fraud

Naman Kawi gets seven years' jail for bank fraud JAKARTA (JP): All five defendants in the Bank Indonesia fraud case, which cost the bank Rp 7 billion (US$2.9 million), were sentenced to between two years' to seven years' imprisonment yesterday and Monday. The case was tried at Central Jakarta District Court. The heaviest sentence was handed down to Naman Kawi, the bank's former cashier section head.

Globalization of financial services

Globalization of financial services In the midst of efforts to consolidate financial and banking services in this country, the need for our financial services to be prepared to enter the era of globalization is becoming increasingly urgent. This is all the more true since leaders from the G-7 countries have already been urging that all World Trade Organization member countries come to an agreement on a liberalization of financial services by the end of this year.

Minister calls for new direction in agro-policy

Minister calls for new direction in agro-policy JAKARTA (JP): Higher consumer spending on value-added food products and increasing demand for processed foods will force the government to create policies that favor agriculture and agro- based processing industries, a minister says.

152 workers poisoned

152 workers poisoned JAKARTA (JP): As many as 152 construction workers were hospitalized after they ate at a food stall at a construction site on Jl. Gajah Mada, West Jakarta. No fatalities reported. City Police Spokesman Lt. Col. E. Aritonang said yesterday they found the food the workers ate was contaminated. "The 152 workers are at Husada Public Hospital, West Jakarta. Another 22 workers are out-patients at the same hospital," Aritonang said.

RI Fed Cup team has narrow chance

RI Fed Cup team has narrow chance By Bruce Emond JAKARTA (JP): Yayuk Basuki should have been happy last week. She reached the final at the DFS Classic in Birmingham, Britain, beating world number 10 Rumanian Irina Spirlea on the way. Her World Tennis Association (WTA) ranking jumped six places to 25. Instead, a dampener was put on Yayuk's celebration when the Indonesian Tennis Association (Pelti) scratched her from Indonesia's Fed Cup squad for the tie against Italy here next month.

Trial open over April's eight-hour blackout

Trial open over April's eight-hour blackout JAKARTA (JP): A trial against state-owned electricity company PLN over an eight-hour blackout started yesterday at the South Jakarta District Court. The Indonesian Consumers Foundation filed a class action on behalf of more than one million people affected by the blackout on Sunday, April 13, said the foundation's lawyers from the Jakarta Legal Aid Institute.

Sempati to link Belitung and Singapore

Sempati to link Belitung and Singapore JAKARTA (JP): Sempati Air and Pecatu Indah Group, both controlled by businessman Hutomo (Tommy) Mandala Putra, signed an agreement here yesterday to develop tourism in Belitung, an island off South Sumatra. Sempati's president, Santun Nainggolan, and Pecatu subsidiary PT Putra Ciptawahana Sejati's (Ranati) president, Made G. Putrawan, signed the deal here to improve and develop Belitung's tourism infrastructure. "Sempati is pleased to partner Ranati.

Judge shocked to hear about illegal levies

Judge shocked to hear about illegal levies JAKARTA (JP): The presiding judge at the Central Jakarta District Court was shocked yesterday to hear about the rampant corruption involving city security officers who victimized street vendors. Three defendants in the Tanah Abang riot case, told the court that market security officers imposed illegal levies on them every day or had confiscated their goods without producing written orders.

Man shot for resisting arrest

Man shot for resisting arrest JAKARTA (JP): Police shot and wounded a man when they went to arrest him at a house in Pasar Minggu, South Jakarta, Monday on charges of buying stolen goods. South Jakarta Police Chief Lt. Col. Sisno Adiwinoto said police shot the man, Tomy Sugiharto, in his right leg when he resisted arrest. Two warning shots had been fired, he said. The 43-year-old Tomy, of Jl. Warung Jengkol, in Cakung, East Jakarta, was taken to Kramatjati Police Hospital.

Bintang to split shares

Bintang to split shares JAKARTA (JP): Shareholders of publicly listed PT Asuransi Bintang agreed yesterday to distribute Rp 1.38 billion (US$563,725) or Rp 300 a share as dividends and split the par value of its shares. The general insurance company said the dividend pay out would account for 56.5 percent of its total net profit last year. Bintang's net profit rose 42 percent last year to Rp 2.77 billion from Rp 1.95 in 1995.

Book bargain at Monas

Book bargain at Monas JAKARTA (JP): Try your luck at a book bargain this weekend at the National Monument Park. From 9 a.m. to 9 p.m., book vendors to major publishers will hawk their wares at the park. The event, which promises cheap books, is to commemorate the 47th anniversary of the Indonesian Publishers' Association, IKAPI. People can also register for a marching contest scheduled for Sunday at 6:30 a.m. Call 314-6050 or 314-1907 for further details. (anr)

Police seize detonators

Police seize detonators UJUNGPANDANG, South Sulawesi: Police have seized 2,000 detonators smuggled from India which were intended for fish bombing. The alleged smuggler, identified only as Bah, had been arrested here June 21 while disembarking a ferry from Tarakan, East Kalimantan, city detective chief Second Lieutenant Rachmad Sudjana said yesterday. He had carried the detonators in a large can which he had he said contained biscuits, Rachmad said.

Indonesia to select lifters for SEA Games

Indonesia to select lifters for SEA Games JAKARTA (JP): The Indonesian Weightlifting, Powerlifting and Bodybuilding Association will stage the final selection for the 19th Southeast Asia (SEA) Games weightlifting team this week. The association's secretary-general, Djoko Pramono, said Monday that 30 lifters would try out in the one-day selection on June 27.

Azwar denies probe into Revolution Fund

Azwar denies probe into Revolution Fund JAKARTA (JP): A senior cabinet minister denied yesterday that President Soeharto had ordered him to investigate whether a Revolution Fund, reportedly worth up to US$16 billion, existed. After meeting Soeharto at Merdeka Palace, Coordinating Minister for People's Welfare Azwar Anas said that a recent presidential decree had only ordered him to investigate claims that the state had the right to a large amount of undocumented wealth.

RI eyes Croatian drugs

RI eyes Croatian drugs ZAGREB (Reuter): Indonesia is interested in buying pharmaceutical products from two major Croatian drugs companies, state television said on Monday. An Indonesian delegation led by the health minister Sujudi visited Croatia's flagship pharmaceutical companies Pliva and Belupo and discussed the possibility of placing their products in Indonesia's growing market, state agency Hina reported.

Jakarta International Festival marries East and West

Jakarta International Festival marries East and West By Yenni Kwok JAKARTA (JP): Organizers of Jakarta International Festival 1997 (Jakfest '97) are clearly intent on dismantling Rudyard Kipling's pessimism that the twain never meets between East and West. Its theme, "East Meets West," says it all, as the Eighth Jakarta International Festival invites everybody to enjoy doses of local and foreign cultures, all for free.

'Mikrolet' drivers finally return to their routes

'Mikrolet' drivers finally return to their routes JAKARTA (JP): Many drivers of mikrolet transit vans returned to work yesterday after the transportation authority caved in to some of their demands. But thousands of people remained stranded in areas where the drivers' strike, which began early this month protesting overlicensing and poor road conditions, continued.

TV today

TV today TVRI 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 Education Quiz: Cepat Tepat 5:10 TV Series: Topacio 5:55 Music 6:00 News: Lintasan Berita 6:05 Nusantara, The Beloved Country 6:15 Village Program 6:30 TVRI News 6:53 Music 7:00 Evening News 7:30 Entrepreneurship Program: Mitra Kita 8:00 News: Lintasan Berita 8:05 Quiz: Dewasa 8:30 Variety Show:...

New bus permits 'not based on needs'

New bus permits 'not based on needs' JAKARTA (JP): The Chairman of the Organization of Land Transportation Owners (Organda) said yesterday that the addition of permits for new vehicles was not based on apparent needs. This was one weakness in public transportation management which led to last week's strikes, Aip Syarifuddin said in a press release yesterday. "Severe competition," he said, has led vehicle owners "to try every possible way to get lucrative routes", but he did not elaborate.

Vietnam gets fewer tourist

Vietnam gets fewer tourist HANOI (Reuter): Vietnam, which has been a strong tourist and business draw since opening its doors to the outside world, appears to be losing some of its allure. An official at the National Administration of Tourism said on Tuesday that 700,000 foreigners had visited the country so far this year, seven percent fewer than in the same period of 1996. A record 1.6 million foreigners, including people on business, went to Vietnam in 1996.

Taman Ria park gets first visitors

Taman Ria park gets first visitors JAKARTA (JP): Children from the Assyafi'iah orphanage in East Jakarta swarmed through the nearly completed Taman Ria Senayan amusement park on Saturday. Screams and laughter rang out as older junior high students whirled through the loops of the roller coaster. The youngsters also slammed into each other in electronic bumper cars. Some looked eagerly at the ferris wheel but it was not operational.

APEC transport ministers seek to ride growth

APEC transport ministers seek to ride growth VICTORIA, British Columbia (Reuter): Anticipating a boom in passenger and freight traffic, transportation ministers and industry experts from Asia-Pacific countries met on Monday to discuss how to ensure transport links keep pace with economic and trade growth. The session was the first part of two-day meeting in Victoria of ministers from the 18 members of the Asia Pacific Economic Cooperation forum, which includes the United States, China and Japan.

Disappointed voter

Disappointed voter From Media Indonesia I am concerned about Golkar's decision to give its surplus votes to the Indonesian Democratic Party (PDI). During the campaign period I made every effort to visit family and friends to explain to them why they should vote for Golkar. I was happy with Golkar's victorious election result and hoped that things would continue to improve.

Beware of Merapi lava

Beware of Merapi lava YOGYAKARTA: The mass of more than four million cubic meters of cold lava on Merapi is increasing by 53,000 cubic meters a day, an official said here yesterday. Mas Atje Purbawinata, from the directorate general of volcanology in charge of monitoring Mount Merapi, said the lava posed a major threat to residents around the volcano.

Salor protests referee as draw request rejected

Salor protests referee as draw request rejected JAKARTA (JP): West Java International Master Salor Sitanggang protested international referee Jamil Jamal in the third round of the Bali Jeff-RCA Grandmaster Chess Tournament on Monday. Salor protested that his request for a draw against National Master Tommy Suprianto was rejected by the referee. Salor played black and had only a King and a Bishop, while his opponent had a King, a Bishop and a Knight. Salor demanded a draw but the referee refused.

New customs system 'creates uncertainty'

New customs system 'creates uncertainty' JAKARTA (JP): Importers are concerned by uncertainties in some areas of the new customs clearance system, analysts said here yesterday. I Nyoman Moena, a former president of PT Surveyor Indonesia and currently a trade analyst, and Munti Yarso of PT SGS Services Indonesia identified four elements of the new system which were causing problems in the customs clearance of imports.

Police arrest 7th suspect in Bank Arta Prima scam

Police arrest 7th suspect in Bank Arta Prima scam JAKARTA (JP): Police arrested yesterday one more businessman for his alleged involvement in corruption related to the issuance of commercial papers and bad credit at Bank Arta Prima. City Police Chief Maj. Gen. Hamami Nata said yesterday the arrest of the businessman brought the total number of alleged suspects in the case to seven. "The new alleged suspect's initial is S," said Hamami.

Squatters at human rights body ask for public help

Squatters at human rights body ask for public help JAKARTA (JP): More than 100 Depok residents, who have been squatting on the grounds of the National Commission on Human Rights for more than two months, appealed yesterday for help from the public. A spokesman for the squatters, Simbolon, the father of five children, said, "We need rice and clothes for our children." Simbolon said many children had become ill.

Schools unrepaired after 1992 quake

Schools unrepaired after 1992 quake MAUMERE, East Nusa Tenggara: Many schools in East Flores regency, damaged by the 1992 earthquake, have not been repaired for lack of funding, the regent said last week. Hendrikus Henky Mukin said that scores of students at the Ledalero Catholic School of Philosophy had to study in the makeshift tents which they had erected after the quake.