Indonesian Political, Business & Finance News

Archive: 27 June 1997

56 articles found

Trihamas Finance gets Rp 100b loan

Trihamas Finance gets Rp 100b loan JAKARTA (JP): Multifinance company PT Trihamas Finance secured a Rp 100 billion (US$41.66 million) syndicated loan from eight banks yesterday. Trihamas Finance's president Hendri Sudiyarto said the four year loan would carry an annual interest of about 19 percent and would finance the company's expansion program. He said the loan was arranged by Bank Ficorinvest.

Government denies policy changes in mining contract

Government denies policy changes in mining contract JAKARTA (JP): State Secretary/Minister Moerdiono denied yesterday that new foreign mining contractors would have to give the government a 10 percent share of their ventures on a free carried-interest basis. "Wholly foreign-owned companies are still allowed to operate in the mining sector," Moerdiono said about reports that the government was planning sweeping changes to its policies on foreign mining.

Ministers and departments

Ministers and departments From Merdeka Article 17 of the constitution, paragraph three says that ministers are the head of departments. Now, there are many ministers not heading a department. Isn't this contrary to the article? If a minister ends his function before the end of his term, is this indicative of the legislature? Where do the funds come from for the special department? The current state budget covers the 1997/1998 financial year.

Bali to have tourism school

Bali to have tourism school DENPASAR, Bali: Bali's Indonesian Tourism Management Institute (MAPINDO) has established a cooperation with Australia's Western Melbourne Institute of Tafe, La Trobe University and South Bank Tafe to set up an institute of higher learning in tourism. MAPINDO director, I Ketut Putra Suarthana, was quoted by Antara as saying that the institute, to be called the Bali Institute for Education and Training in Tourism, will be the first to be set up in the province.

Rights campaigner blasts arson

Rights campaigner blasts arson MEDAN, North Sumatra: A human rights campaigner condemned yesterday the burning of a house belonging to shaman Ahmad Suraji, who is accused of murdering 42 women, Antara reported. The news agency quoted Syafaruddin, a director of the Foundation for the Protection of the Rights of Women and Children, as saying here that the arson was illegal. The shaman, also known as Datuk and Nasib Kelewang, had allegedly killed the women to strengthen his magical power.

Shuttlers 'need better future'

Shuttlers 'need better future' JAKARTA (JP): The 1992 Olympic singles gold medalist Alan Budikusuma has urged the Badminton Association of Indonesia to start considering national shuttlers' future after they retire. "The association should assist players if they want to continue studying or start working. The association currently does not care about players after they are dismissed from the national training center," he told reporters yesterday.

Chevron and Texaco steam up in Indonesia

Chevron and Texaco steam up in Indonesia SAN FRANCISCO (Reuter): Chevron Corp and Texaco Inc said their Amoseas Indonesia joint venture had hit dry steam in a geothermal well at Darajat, Western Java, Indonesia which is sufficient to power one third of a 20 megawatt power station. The two U.S.

The Listening Post

The Listening Post "Building English Skills Through Newspaper + Radio" Produced by American Language Center in cooperation with The Jakarta Post and Radio Sonora FM 100.9 Mhz * Bre-X's Indonesian moose pasture has turned into a quagmire of grief and disappointment, for all those mislead people whose life savings vanished into Caribbean bank accounts. On a happier note, however, the four hundred million ounces of golden fantasies have yielded a motherlode of jokes and lore.

Seven-day-old headless body

Seven-day-old headless body JAKARTA (JP): A forensic expert said yesterday a headless body found Wednesday night in Cakung, East Jakarta, was about seven days old. Mun'im Idris of Cipto Mangunkusumo General Hospital said he believed the boy, found on Jl. Raya Bekasi, was killed the night of June 19. It is believed that the boy was a scavenger, about 15 years old, he said. He said the condition of the body was similar to another headless body found on Jl. I Gusti Ngurah Rai on Dec. 30 last year.

Students protest against bashing by soldiers

Students protest against bashing by soldiers JAKARTA (JP): More than 350 students from Indonesia Christian University marched to the office of the National Commission on Human Rights yesterday in protest against soldiers who bashed students at the university's Cawang campus Monday night. The protesters marched from the Jl. Salemba campus carrying banners.

Deceitful cab driver

Deceitful cab driver From Media Indonesia I am a Japanese citizen and I arrived on Singapore Airlines June 15, 1997, about 7 p.m. at Soekarno-Hatta International Airport. The driver who was supposed to fetch me did not show up. After a long wait, I decided to take a cab to the office guest house. It was a red-and-yellow colored cab, but I do not remember the name of the transportation company, the cab's plate number, or the vehicle's registration number.

Work starts to change House rules

Work starts to change House rules JAKARTA (JP): After weeks of heated polemics, legislators began work yesterday on ways to change the House of Representatives' internal rules. The 500-strong House has set up a special team to come up with a proposal on rule amendments by July 22. The team consists of 21 legislators from the United Development Party (PPP), Golkar, the Indonesian Democratic Party (PDI) and the Armed Forces.

Govt firm on no pay for striking workers

Govt firm on no pay for striking workers JAKARTA (JP): Striking workers will not be paid, the government said yesterday, referring to the "no work no pay" principle stipulated in an International Labor Organization convention. "If they are paid, then they'll enjoy striking and the dispute (that caused) the strike will drag on and eventually harm the workers themselves," Minister of Manpower Abdul Latief told a House of Representatives' plenary session on the manpower bill.

Daya Sakti to double profit

Daya Sakti to double profit JAKARTA (JP): Publicly listed timber company PT Daya Sakti Unggul Corporation expects to double its net profit to Rp 18 billion this year from Rp 9 billion in 1996. The company's president Njoto Suhardjojo said yesterday after the company's shareholders meeting that sales were expected to reach Rp 250 billion this year from Rp 215 billion in 1996.

New entertainment hall opens next week

New entertainment hall opens next week JAKARTA (JP): A state-of-the-art entertainment center, which will feature a mixture of entertainment, will be opened on Jl. Sudirman on July 3, the center's deputy general manager said yesterday. The new hangout place for youth, called Bengkel (Workshop) Nightpark, Anton Wirjono said, will include a discotheque, music cafe, karaoke center, restaurant and concert hall at night.

RI need to draft competition policy, say analysts

RI need to draft competition policy, say analysts JAKARTA (JP): Indonesia has undergone substantial trade reform and deregulation and now needs to draft competition policy to give it a more competitive economic structure, experts said here yesterday. Mari E. Pangestu of the Centre for Strategic and International Studies said at a seminar here that there was increased domestic and international pressure to address issues related to competition policy.

Bogor back to normal after strike

Bogor back to normal after strike BOGOR (JP): Bogor was back to normal yesterday after a four- day strike of all 13 routes that began June 17, while drivers were waiting for authorities' to curb the addition of new vehicles as was promised. Drivers, who said it was difficult to take home Rp 5,000 a day, were paying the usual levies again. Besides complaining about too many vehicles, drivers had protested having to pay a Rp 100 fee for each return trip they made.

Anniversary events spotlight obscure cultural gems

Anniversary events spotlight obscure cultural gems By Yenni Kwok JAKARTA (JP): In its anniversary month, Jakarta does not lack for international festivities. Different institutions are continuing to organize interesting events as the celebratory mood of June 22 lingers on.

HK democrats upset as boycott plan dropped

HK democrats upset as boycott plan dropped HONG KONG (Reuter): Hong Kong's pro-democracy camp, angry and feeling abandoned, heaped scorn on the United States and Britain yesterday for dropping a planned boycott of inaugural ceremonies for a new Beijing-picked legislature. Emily Lau, an outspoken champion of democracy in the territory that reverts to Beijing at midnight on Monday, said the two countries were "disgusting and contemptible".

Riots blamed on growing sectarianism

Riots blamed on growing sectarianism JAKARTA (JP): The widespread violence that marred this year's general election is a sign of worsening domestic sectarianism, a political analyst said yesterday. Amir Santoso of the University of Indonesia said that he did not agree with the widely-held belief that socioeconomic disparity was the root of the unrest.

Holiday Inn's service

Holiday Inn's service From Pikiran Rakyat I had reserved an executive suite for June 21 to June 22 at the Holiday Inn in Bandung for a guest of mine from Jakarta. The total cost of Rp 508,200 was paid in advance by credit card. When my guest returned to Jakarta she telephoned me to say that she had not been able to check in at the usual time of 1.00 p.m. because the suite was still occupied. She thought I had not made the reservation arrangements.

Latex future in gloves, condoms

Latex future in gloves, condoms KUALA LUMPUR (Reuter): Gloves, catheters and condoms will continue consuming most of the latex produced by the world in the future, but developing nations will overtake the West in becoming the best markets for the products, an expert said yesterday.

Military says East Timor rebel leader shot dead

Military says East Timor rebel leader shot dead JAKARTA (JP): An East Timorese rebel leader died of bullet wounds Wednesday after a gun battle in Baucau, 130 kilometers east of Dili, the military said yesterday. Soldiers shot David Alex, 48, in the thigh and arm at about 11 a.m. when they raided his cave hideout in Caibada village, East Timor Army chief Brig. Gen. Syahrir M.S. said. He died of blood loss in Dili's Wira Husada Hospital at about 7 p.m.

Where to go in Bali:

Where to go in Bali: Music and entertainment * Bali Cliff, Pecatu: Frog Dance, Saturday, Balinese Theater, Ramayana Ballet, Monday, Kecak Dance, Tuesday and Saturday, Legong Dance, Wednesday, Mask Dance, Thursday, Jegog Orchestra, Friday, Tektekan Calonarang, Sunday, from 8.30 p.m. * The Ritz Carlton Bali, Jl. Karang Mas Sejahtera, Jimbaran: - Sami Sami Restaurant: Batak Folk Songs, 7 p.m. to 10 p.m. - Padi Restaurant: Keroncong, nightly, 6 p.m.

Stock Exchange

Stock Exchange Stock prices on the Jakarta Stock Exchange (in rupiah) on June 26, 1997: Shares Close Change Trading Volume ------------------------------------------------------- Ades Alfindo 1,950 -100 136,500 AHAP Insurance 2,700 25 3,000 Alter Abadi 1,025 0 0 Alumindo Light Metal 1,100 -50 2,071,500 Alumindo Perkasa 875 0 14,000 Aneka Kimia Raya 1,400 50 4,481,500 Anwar Sierad 950 -25 152,000 Apac Centertex Corp.

Beware of potential for riots: Soesilo

Beware of potential for riots: Soesilo JAKARTA (JP): The government believes that despite the passing of the general election and the recent absence of riots there is still great potential for unrest. Coordinating Minister for Political Affairs and Security Soesilo Soedarman urged all community groups yesterday to beware of this potential which could plunge the country into more unrest.

No ties with Israel: Soeharto tells Syrians

No ties with Israel: Soeharto tells Syrians JAKARTA (JP): Indonesia will not establish diplomatic ties with Israel as long as there is no comprehensive and just solution to the disputes between Arab countries and Israel, President Soeharto said yesterday. Soeharto declared Indonesia's consistency on this policy in his address at last night's banquet to honor visiting Syrian Prime Minister Mahmoud Al-Zoubi.

Sukarno's remains likely to stay put

Sukarno's remains likely to stay put JAKARTA (JP): The government hinted yesterday that it would not allow the remains of first president Sukarno to be moved from a grave in Blitar, East Java, to one in Bogor, West Java. Responding to reporters' questions about the Sukarno family's wish to relocate the grave, State Secretary/Minister Moerdiono said that there had been thorough deliberation about the grave site before Sukarno was buried in East Java on June 21, 1970.

Pino may not fight in President's Cup

Pino may not fight in President's Cup JAKARTA (JP): Light-heavyweight boxer Pino Bahari has said he will not fight in the President's Cup amateur championships, which will be the final selection for the 19th SEA Games team. SEA Games training director Djoko Pramono said yesterday Pino did not want to compete in the championships because he felt abandoned by the Indonesian Boxing Association for not being sent abroad for overseas training. "Pino was never in the 19th SEA Games training squad.

Python breeders in prize squeeze

Python breeders in prize squeeze HANOI (Reuter): A drop in the price of python meat due to oversupply is causing economic difficulties for about 1,000 breeders in Vietnam's southern province of Ca Mau, the daily Vietnam News said. The newspaper said the retail price of a python had fallen to 40,000 dong ($3.43) from 115,000-125,000 previously. Pythons are bred in Vietnam for their meat and skin.

Low's outpeaks Kinabalu

Low's outpeaks Kinabalu KUALA LUMPUR (AP): Low's Peak on Mount Kinabalu, which for 87 years was considered the highest point in Southeast Asia, no longer holds that honor. With the help of U.S. satellites, surveyors found that nearby Victoria Peak was taller. Victoria, at 4,097 meters is 17 meters higher than Low's, The Star reported yesterday, quoting Sabah state's Chief Minister Yong Teck Lee.

Indah Kiat's US$500m notes rated 'BB-'

Indah Kiat's US$500m notes rated 'BB-' JAKARTA (JP): International rating agency Standard & Poor's has given a "BB-" rating to Indah Kiat Finance Mauritius Ltd's $500 million guaranteed notes due 2007. Standard & Poor's also raised its rating on Indah Kiat International Finance Co B.V.'s 37 billion Japanese yen (US$330 million) unsecured bonds due 2000 to "BB-" from "B+". The two companies are affiliates of publicly listed PT Indah Kiat Pulp & Paper Corp, known as Indah Kiat.

On the road to development

On the road to development From Media Indonesia After reading the article Pengalaman berkendaraan di AS (My experience of driving in the U.S.) published in Media Indonesia and other city newspapers some time ago, I would like to make the following comments. The writer seems to have forgotten that the United States has been independent for more than 200 years, whereas Indonesia's independence is just over 50 years old.

YLKI requests consumers' help

YLKI requests consumers' help The Indonesian Consumers' Foundation (YLKI) is a nongovernmental organization which deals with consumer protection. One of its activities is to examine goods and services. The foundation is currently examining bottled drinking water and hopes to provide information to consumers on the quality of water on sale in the market. To complete our research data we call for consumers' participation.

Verdict on bank row postponed

Verdict on bank row postponed JAKARTA (JP): The Jakarta Administrative High Court postponed Wednesday a verdict on a dispute between the management and union of the Hongkong and Shanghai Bank Corporation. It was the second postponement since the trial was scheduled to reach a verdict on July 11, 1997. But presiding judge Fatimah Achjar said both parties had one more chance to make a compromise between them.

Economic reform drive needs reinvigorating

Economic reform drive needs reinvigorating Prof. Sumitro Djojohadikusumo made some strong remarks recently when he criticized the government for its lethargy in bringing about economic reforms. The Indonesian economic guru appeared impatient on observing the pressing problems that need to be immediately addressed. Prof.

Tiger attacks stop replanting

Tiger attacks stop replanting BANDAR LAMPUNG, Lampung: Frequent tiger attacks in Sumberjaya district, West Lampung, have stopped workers replanting and watering seedlings in the protected Tangkit Tebak forest, Antara reported yesterday. "We had to stop working," said Munawawi of state forestry company Inhutani V. "We don't want to expose our workers to unnecessary risks because the tigers that roam the area are wild." An employee of the company, Gustiah, was mauled to death earlier this month.

TV today

TV today TVRI 2:30 p.m. News: Lintas Nusantara 2:40 Travel: My Country 2:45 Children's Film: Kelly 3:10 Children's Program: Tunas 3:35 Talk Show: Sambung Rasa 4:00 Regional News 4:30 Student's Quiz: Cerdas Cermat 5:10 Film: Home Green Home 5:25 Variety Show: Country Tracks 5:30 Teenagers' Drama: Rt.09 6:00 News: Lintasan Berita 6:05 Nusantara, The Beloved Country 6:15 Village Program 6:30 TVRI News 7:00 Evening News 7:35 Development Program: Dynamic 8:00 News: Lintasan Berita 8:05 Music: Pamor...

Two investors eyeing TIM project

Two investors eyeing TIM project JAKARTA (JP): Two private investors have expressed interest in helping finance the Taman Ismail Marzuki (TIM) art center renovation project in Central Jakarta, an official said yesterday. Wiyogo Atmodarminto, chairman of Kesenian Jakarta Foundation, which is in charge of raising funds for the project, said the two investors had proposed to develop the Grand Theater, one of the main buildings of the renovation project.

World Bank loan to RI

World Bank loan to RI WASHINGTON (Reuter): The World Bank said on Wednesday it had approved a US$66.4 million credit to help finance renewable energy sources in Indonesia. World Bank officials have said they would like to see total donor aid to Indonesia remain at last year's levels of $5.26 billion this year. They forecast strong economic growth in Indonesia this year, although they are worried about high core inflation rates and a relatively weak banking sector.

Where to go in Surabaya:

Where to go in Surabaya: Music and Entertainment * Tunjungan Crystal Hotel, Jl. Tunjungan 102-104: - Lounge Bar: Stief's Band, Tuesday, Thursday, Saturday, open at 8 p.m. to 12 p.m. * Mirama Hotel, Jl. Raya Darmo 58-76: - Mirama Bar: Desire Band, Monday. Cigma Band, Tuesday. Abouwhim VG and Bubi Chen Virtuoso Band, Wednesday. Abouwhim Band, Thursday. HI Beat Band and Zombhie Group, Friday. The Player's and Surabaya VG, Saturday. Hazztoria, Sunday. - Kendedes Restaurant: Zombhie VG, Friday.

Where to go in Jakarta:

Where to go in Jakarta: Music * Shangri-La Hotel, Jl. Jend. Sudirman Kav.1, Central Jakarta: - B.A.T.S: The Sunday Jazz Club performs live music, video clip, talk show, etc., every Sunday, 1 p.m. to 6 p.m., * 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.

Lawyer's gun causes court turmoil

Lawyer's gun causes court turmoil JAKARTA (JP): The hearing of a lawsuit against Indonesian Democratic Party (PDI) chairman Soerjadi deteriorated into a scuffle yesterday after one of the defendant's lawyers took a gun into the courtroom. The Central Jakarta District Court was hearing a lawsuit filed by 124 supporters of ousted PDI leader Megawati Soekarnoputri. They are suing Soerjadi, his cadres and former Central Jakarta police chief Lt. Col.

President to sign stamps

President to sign stamps JAMBI, Jambi: President Soeharto is scheduled to sign a new series of stamps which feature ornaments unique to Jambi to mark the opening of the 18th national Koranic reading contest here on July 9, Antara reported. The state-owned postal company, Posindo, will issue the new stamps in two denominations, Rp 300 and Rp 700, and two million of each denomination will be distributed nationwide, head of the company's provincial office, Arjuna, said recently.

Hamdani, Antonio draw in Bali

Hamdani, Antonio draw in Bali JAKARTA (JP): NM Hamdani Rudin showed both poise and skill when he drew with GM Rogelio Antonio of the Philippines in the fifth round of the Bali Jeff-RCA Grandmaster Chess Tournament Wednesday. Hamdani secured the draw on the 16th move through a Nimzo Indian opening. It meant Antonio moved on to four Victory Points (VP) and Hamdani on to 3.5 VP. GM Edhi Handoko is also on four VP after beating NM Kifly Tunasly. Kifly has lost all five of his matches.

Indosat, what is wrong?

Indosat, what is wrong? Since the purchase of my mobile phone about three months ago, I have not been able to receive calls from phones in Indonesia. A success rate of one call out of 50 has been the normal rate. In the last few days I have been calling my phone which is on a yacht in Central Java, and I have not be able to get through. But there is no problem with receiving phone calls from overseas. Although I have complained to Indosat in Jakarta and Jatiluhur, there has been no response.

Rising drug abuse worries Soeharto

Rising drug abuse worries Soeharto JAKARTA (JP): President Soeharto said yesterday he was concerned by the steady growth of drug addiction despite international efforts to curb drug abuse and trafficking. He pledged that the government would keep fighting drug abuse and try to rehabilitate addicts.

Family can play vital role in helping diabetes patients

Family can play vital role in helping diabetes patients JAKARTA (JP): Adhering to a strict diet to reduce weight is hard enough for the healthy. But for elderly people with diabetes melitus, dietary restrictions can be difficult to follow. The family can play an important role in establishing psychological and social conditions conducive to supporting medical treatments. Dr.

How will the euro affect Indonesia?

How will the euro affect Indonesia? The following is an excerpt of a paper presented at the ABN- AMRO Conference on the European Single Currency on June 17 in Jakarta by J. Soedradjad Djiwandono, a professor of economics at the University of Indonesia and Governor of Bank Indonesia. This is the first of two articles.

PT Apac Centertex plans US$100 million expansion

PT Apac Centertex plans US$100 million expansion JAKARTA (JP): Publicly listed textile producer PT Apac Centertext Corporation (ACC) plans a US$100 million package of expansion projects this year, the company said yesterday. "The expansion will be funded by supplier credit which we hope to get with very attractive conditions," company director Anas Bahfen said after the company's shareholders meeting.

Amungme chief says treat my people right

Amungme chief says treat my people right JAKARTA (JP): An Irianese tribal leader called yesterday for better treatment of indigenous people around PT Freeport Indonesia's gold and copper mine. Tom Beanal, chief of the Amungme tribe, said that Irianese locals wanted to be treated "like human beings" so that there wouldn't be anymore conflict. "Actually, we don't want to fight. We only want them to treat us as individuals...

Panasia plans to float 50 million shares

Panasia plans to float 50 million shares JAKARTA (JP): Polyester producer PT Panasia Filament Inti will float 50 million shares, or 20 percent of its enlarged capital, to raise Rp 32.5 billion (US$13.54 million) in fresh funds. The company said Wednesday it would list its shares, each with a par value of Rp 500, on the Jakarta and Surabaya Stock Exchanges on July 20.

IAI cannot halt malpractice among public accountant

IAI cannot halt malpractice among public accountant JAKARTA (JP): The Indonesian Association of Accountants (IAI) said yesterday that malpractice was common among public accountants, but insisted it could do nothing to stop it if clients collaborated with their accountants. IAI's chairman, Soedarjono, said the association could only expel members for unethical practice if clients reported malpractice or complained.

Games sticker sales extension starts next month

Games sticker sales extension starts next month JAKARTA (JP): A gubernatorial decree on SEA Games sticker sales will be extended next month after the consortium assured better management, a city official said yesterday. Bambang Subekti, who is in charge of controlling sticker sales at city offices and agencies, said the decision was made after a meeting with officials of the Ministry of Social Services.

Filipino, RI caddies wanted

Filipino, RI caddies wanted KUALA LUMPUR (AP): Because of a shortage of golf caddies, the government will allow clubs in Sabah state on Borneo Island to import them from the Philippines and Indonesia. The Federal Task Force on Foreign Workers said the clubs would have to pay an annual levy of US$288, Bernama news agency reported yesterday. The statement did not specify the wages for caddies but manual workers from the two nations make about $12 to $20 daily.

Telecom industry 'needs $10b' in new investment

Telecom industry 'needs $10b' in new investment JAKARTA (JP): The telecommunications industry will need a new private investment injection of up to US$ 10 billion in the Seventh Five-Year Development Plan period which starts in April 1999, a senior official said here yesterday. Ministry of Tourism, Post and Telecommunications' secretary- general Jonathan L. Parapak said at a PT Satelindo seminar on financing the industry, that the new investment had to come from the private sector.