Indonesian Political, Business & Finance News

Archive: 1 July 1997

59 articles found

'Minimum' visa changes after Hong Kong handover

'Minimum' visa changes after Hong Kong handover JAKARTA (JP): The visa application process for people wanting to visit Hong Kong for two weeks or more will not change under Chinese rule, a Chinese embassy official said yesterday. The former British territory returned to China today. Consular Liu Yonggu said the only major change was that people had to apply for a visa at the Chinese embassy instead of the British embassy.

KPN to split up units

KPN to split up units JAKARTA (JP): Koninklijke PTT Nederland/Royal PTT Nederland (KPN) will separate its two major units, PTT Telecom and PTT Post, because the firms had expanded significantly in different directions. KPN's spokeswoman, Mieke Plaschek, said yesterday the split would be completed by the first quarter of 1998. "The separation will not, however, affect PTT Telecom's ownership in PT Telkomsel," she said.

Stock Exchange

Stock Exchange Stock prices on the Jakarta Stock Exchange (in rupiah) on June 30, 1997: Shares Close Change Trading Volume ------------------------------------------------------- Ades Alfindo 1,200 250 10,000 AHAP Insurance 2,700 0 0 Alter Abadi 1,000 -25 5,000 Alumindo Light Metal 1,125 50 667,500 Alumindo Perkasa 875 0 0 Aneka Kimia Raya 1,375 -50 1,358,500 Anwar Sierad 1,075 25 3,683,000 Apac Centertex Corp.

ICAC to construct new building in Lebak Bulus

ICAC to construct new building in Lebak Bulus JAKARTA (JP): The Jakarta's International Community Activity Center (ICAC) stepped ahead in its plan to move from its current rented building into a new building. It held a ground-breaking ceremony yesterday for the construction of its new three-story building in Lebak Bulus, South Jakarta.

Police chief wants better resources

Police chief wants better resources JAKARTA (JP): Nearly one in five items of police equipment are not in working order, National Police Chief General Dibyo Widodo said yesterday. He said most equipment was old and not performing to its optimal level. Dibyo said 59.4 percent of equipment was in average condition, 22.8 percent in poor condition, and 17.8 percent was damaged.

Court asked to hear reforestation fund case

Court asked to hear reforestation fund case JAKARTA (JP): Lawyers representing five environmentalists asked the administrative court yesterday to hear their lawsuit against President Soeharto who they accuse of diverting Rp 250 billion (US$105 million) in reforestation funds to a pulp and paper mill.

RI committed 'to removing trade barriers'

RI committed 'to removing trade barriers' JAKARTA (JP): Indonesia is fully committed to removing tariff and non-tariff barriers, and implementing agreements to further the country's integration into the global trading network, Minister of Finance Mar'ie Muhammad said yesterday. "We are because we realize that when we open ourselves up to the global economy, the long term benefits from increased participation in the world economy will be immense," Mar'ie told a Pacific Rim Forum in Hong Kong.

Askatindo stops deals with Bre-X

Askatindo stops deals with Bre-X JAKARTA (JP): Indonesian PT Askatindo Karya Mineral, the holder of a mining license for the controversial East Kalimantan Busang area, says it will terminate its contracts with Canada's Bre-X Minerals Ltd on July 4. Askatindo director Achmad Yani said yesterday that the company had written to notify Bre-X chairman David Walsh that contracts between their companies related to the Busang property would be terminated on July 4. Askatindo, Bre-X and U.S.

Where to go in Jakarta:

Where to go in Jakarta: Music * Fashion Cafe, Wisma 46 BNI City, Ground Floor, Jl. Sudirman Kav. 1, Central Jakarta: Shiok Crew Band, Tuesday to Thursday, Sunday, 9 p.m., Friday, Saturday, at 9.30 p.m., Fashion Mania Happy Hour, Monday to Friday, 5 p.m. to 8 p.m., Saturday to Sunday, 5 p.m. to 9 p.m., Speedy Business Lunch, Monday to Friday, 11 a.m. to 4 p.m. * Jamz, Jl. Panglima Polim Raya. No. LMN 11, South Jakarta, at 9.30 p.m. to 1 a.m.: Jamz All Stars, NSJF 97, Tuesday to Saturday.

New road, but old bridge

New road, but old bridge From Merdeka A new road has been constructed in the Tanah Abang area, Central Jakarta. Concurrently a new pedestrian bridge is being set up over the road. The problem is, while the road is really new, the bridge is already old with rust on its entire frame and many additional weldings. Shouldn't a new road project also have a new bridge? How can an old bridge be justified? I think the authorities should explain this to Jakarta citizens. ABRAHAM P.L. TOBING Jakarta

UI forges links with Zagazig University

UI forges links with Zagazig University JAKARTA (JP): University of Indonesia and Egypt's Zagazig University signed a memorandum of understanding yesterday on research and exchange programs. The memorandum, signed at University of Indonesia's campus in Depok, a town south of here, is the first agreement between the two universities. The memorandum was signed by University of Indonesia Rector M.K.

Indosat joins WorldPartners

Indosat joins WorldPartners JAKARTA (JP): State-owned PT Indosat has joined WorldPartners, an alliance of world-class telecommunications operators, to boost its competitive edge. Indosat's commercial director, Bambang Sulistyo, said yesterday that his company had been certified by WorldPartners in late May to introduce frame relay services. "By joining WorldPartners, Indosat will be able to serve multinational companies which operate branches in Indonesia with WorldPartners' network," he said.

The sun rises in HK

The sun rises in HK The sun has finally set for the once great British empire with today's hand over of Hong Kong to China. But for the territory, and the rest of Asia, the sun will shine even brighter. Until this morning, Hong Kong had been one of the few last vestiges of European colonialism, which for most of Asia, is a dark era in its history. Any form of colonialism is deplorable and must, as a matter of principle, be eliminated from the face of the earth.

Syarwan Hamid stresses dialog for democracy

Syarwan Hamid stresses dialog for democracy JAKARTA (JP): A senior Armed Forces (ABRI) officer stressed yesterday that dialog was the best way to bridge differences of opinion while the country's democracy was developing. "Democratization and openness call for discussion between people with different views on political and development issues," said Armed Forces Chief of Sociopolitical Affairs Lt. Gen. Syarwan Hamid.

RP's economic reforms to stay after Ramos

RP's economic reforms to stay after Ramos By Cecilia Quiambao MANILA (JP): A lower than expected growth in the first three months of the year has stoked fears of an impending slowdown as the Philippine economy adopts to free market competition while trying to avoid the travails of neighboring Thailand.

Wet weather good omen for HK: 'Feng shui' expert

Wet weather good omen for HK: 'Feng shui' expert HONG KONG (Reuter): A persistent drizzle put a damper on handover celebrations but wet weather is a good omen for Hong Kong as it enters a new era under Chinese rule, a Hong Kong feng shui expert said yesterday. Feng shui -- wind and water -- is an age-old Chinese belief of geomancy that harmony with the elements ensures good fortune.

Two detained over jail escapee

Two detained over jail escapee BOGOR (JP): Two Bogor prison officers, who were arrested Saturday, were still being interrogated yesterday following the escape of a defendant in the Jagorawi toll road murder and robbery case Friday afternoon. Another officer, in charge of administration at Paledang Prison, could be arrested, Bogor Police Chief Col. Dadang Garnida said yesterday.

Belo describes Clinton meeting

Belo describes Clinton meeting DILI: Dili Bishop Carlos Filipe Ximenes Belo said Sunday that he had met U.S. President Bill Clinton at the White House last week in his capacity as a 1996 Nobel Peace Prize winner not as a politician. "The meeting with President Clinton was part of my series of visits to Europe and America in my capacity as a winner of the 1996 Nobel Peace Prize," Belo said. He said he had toured Europe and America for almost two months from early May until the end of June.

Govt asked to give city more tourism autonomy

Govt asked to give city more tourism autonomy JAKARTA (JP): A councilor urged the government yesterday to give more autonomy to the municipality in managing its tourism sector, including in the issuance of star hotel permits. Imam Sutikno of the Indonesian Democratic Party (PDI) said at the City Council's plenary session that he made the appeal because the municipality's authority in the tourism sector was at present very limited.

Intraco expects sales up

Intraco expects sales up JAKARTA (JP): Publicly listed PT Intraco Penta, a heavy equipment distribution company, said yesterday it expected its total sales turnover to increase to Rp 183.4 billion (US$74.91 million) this year from Rp 179.3 billion in 1996. Intraco's finance director Petrus Halim said its heavy equipment sales had doubled every year in the past five years from Rp 8 billion in 1992.

Tamara Bank ties up with China Trust

Tamara Bank ties up with China Trust JAKARTA (JP): Publicly listed Tamara Bank and China Trust Commercial Bank of Taiwan will launch their joint venture bank, Bank China Trust Tamara, here on July 23. "This will be the first Taiwanese bank in Indonesia," Tamara Bank's vice president Hendrik Suhardiman said after the bank's annual shareholders meeting yesterday. He said Tamara Bank owned 15 percent of the new bank, and China Trust owned 85 percent.

ASEAN entry to save Cambodia

ASEAN entry to save Cambodia HONG KONG (AFP): The admission of Cambodia into the Association of Southeast Asian Nations (ASEAN) will enable the group to save the nation from descending into chaos, Philippine Foreign Secretary Domingo Siazon said yesterday. Cambodia's entry in July, along with Myanmar and Laos, was decided in May partly out of the "concern of the ASEAN foreign ministers that the situation might deteriorate further in Cambodia," Siazon told AFP.

ASEAN deals with China's ambition

ASEAN deals with China's ambition By Hilman Adil JAKARTA (JP): A conference on defense and security in Singapore recently attended by representatives of think tanks from ASEAN has expressed growing apprehension over the growth of China's economic and military might. They generally agreed that ASEAN's decision to accept Myanmar as a member was greatly influenced by China's growing military capacity and prowess.

Dharmala to develop 14 towers

Dharmala to develop 14 towers JAKARTA (JP): Publicly listed PT Dharmala Intiland plans to invest around Rp 500 billion (US$205.76 million) to develop 14 apartment towers, called Kondonusa, on Mutiara beach in North Jakarta, an executive said yesterday. Dharmala Intiland President Hendro Santoso Gondokusumo said the development of the apartments on the eight-hectare site would take 10 years to complete.

Megawati supporters reject election

Megawati supporters reject election JAKARTA (JP): About 200 Indonesian Democratic Party (PDI) activists loyal to Megawati Soekarnoputri protested yesterday at the House of Representatives. Led by the PDI Tangerang branch, the demonstrators said they rejected the May 29 general election because Megawati had been barred from running. Calling themselves the Committee Struggling for Democracy, they said the election had been marred by fraud.

1,000 paintings fly at int'l kite festival

1,000 paintings fly at int'l kite festival JAKARTA (JP): One thousand paintings by school children were joined together and launched like a long kite to enliven the opening of the Jakarta International Kite Festival yesterday. The flying of the colorful kite, called Seribu Karya di Udara, by Minister of Education and Culture Wardiman Djojonegoro, was one of the attractions at yesterday's opening of the annual kite festival.

SE Asian rubber prices predicted easier this week

SE Asian rubber prices predicted easier this week SINGAPORE (Reuter): Southeast Asian rubber prices are expected to remain soft this week with foreign buyers largely out of the market and demand at a low ebb, traders said yesterday. In Malaysia, dealers forecast prices would fall by an average of three to five cents per kg for each grade. "All overseas buyers seem sidelined at the moment," one dealer said. "We haven't got anything from the Middle East, China, U.S.

Yayuk through to round four at Wimbledon

Yayuk through to round four at Wimbledon LONDON (Agencies): Indonesia's Yayuk Basuki brought some sunshine to Wimbledon's rain-drenched championship yesterday by reaching the fourth round, only the third Asian woman to achieve the feat. Yayuk, who has reached the fourth round in four of the last five years, beat Japan's Naoko Kijimuta 6-2, 6-3 and now faces Canada's Patricia Hy-Boulais.

ASEAN states overhauls civil services

ASEAN states overhauls civil services SINGAPORE (AFP): ASEAN states are overhauling their civil services to cope with increasing public demand for honest government amid rapid economic development in southeast Asia, officials said yesterday. Top civil servants from the regional grouping attending a meeting here to beef up government reforms said moves to boost civil service efficiency stemmed from the growing expectations of people who feel an honest and open government is their right.

Bite of Belgian chocolate at Mandarin Oriental

Bite of Belgian chocolate at Mandarin Oriental By Bruce Emond JAKARTA (JP): Time was tick, tick, ticking away and there was still no sign of our guest of honor at the Mandarin Oriental's Kafe-Kafe coffee shop. Flurried explanations amounted to the cooking demonstration was actually scheduled for 3 p.m., and that the Belgian ambassador ("a very busy man, you know") would also grace the event with his presence. As it had just turned 1:30 p.m.

Chavalit defends baht amid warnings of fresh assault

Chavalit defends baht amid warnings of fresh assault BANGKOK (AFP): Thai Prime Minister Chaowalit Yongchaiyudh has committed himself to defending the baht amid warnings that the currency could come under fresh speculative attack. Summing up his first six months in office, Chaowalit said in a live television appearance Sunday night that the national currency could never be devalued. "To devalue is easy, but it could cause bad damage and affect all Thais," the premier said.

IOC chief seeks assurance on HK

IOC chief seeks assurance on HK HONG KONG (AFP): Hong Kong's future in international sport is assured but its name is not, Olympic supremo Juan Antonio Samaranch said yesterday. The International Olympic Committee president is in Hong Kong for the handover and to get final guarantees from Chinese leaders about the territory's participation in international events.

KL to tighten govt spending next year

KL to tighten govt spending next year KUALA LUMPUR (AFP): Malaysia would tighten government spending in its calendar 1998 budget to avoid wastage and ensure quality growth, Deputy Prime Minister Anwar Ibrahim said yesterday. The government would also work towards strengthening the country's economic structure and enhancing its economic management, said Anwar, who is also finance minister.

Rational debate urged on Sukarno's grave

Rational debate urged on Sukarno's grave SEMARANG (JP): The controversial plan to move the remains of late president Sukarno should be settled in discussions between his relatives and the government, according to political observer Satjipto Rahardjo. Sukarno's offspring want to move his remains from a mausoleum in Blitar, East Java, to Bogor, West Java, in accordance with his wish to be buried there. "It's useless to fight.

Korean businessmen here

Korean businessmen here JAKARTA (JP): The Dongbu office of the Korean Chamber of Commerce and Industry (KCCI) and the Indonesian Chamber of Commerce and Industry (Kadin) city-chapter have agreed to improve business cooperation. Director of the Dongbu office, Jai-Il Lee, said yesterday that both organizations were discussing ways of structuring their cooperation. Lee is here on a four-day mission that started Sunday as the leader of 14 KCCI members, guests of Kadin Jakarta.

Asian central banks unload U.S. bonds

Asian central banks unload U.S. bonds TOKYO (Reuter): Asian central banks were seen unloading some of their U.S. Treasury bond holdings, with some reinvesting part of the proceeds into shorter-term U.S. debt, traders and fund managers said yesterday. "China was among the active U.S. bond sellers in the recent weeks. They seem to be diversifying currencies in their portfolio after having bought U.S.

Proposed COW changes not final: Sudjana

Proposed COW changes not final: Sudjana JAKARTA (JP): Minister of Mines and Energy I.B. Sudjana said yesterday that the government's proposed changes to seventh generation mining contracts of work (COW) were not yet final. "The amendments are still being discussed at staff level," Sudjana was quoted by Antara as saying after a meeting of economic ministers to prepare for the monthly cabinet session on economic affairs tomorrow.

U.S. experts observe rhinos

U.S. experts observe rhinos PANDEGLANG, West Java: Representatives of the U.S. Rhino and Tiger Foundation arrived here late last week to visit Ujung Kulon National Park and see whether their foundation could provide assistance to it. Head of Ujung Kulon National Park, Agus Sriyanto, told Antara here yesterday that the two representatives would visit the park on June 27 and June 28.

Students continue protest against soldiers' attack

Students continue protest against soldiers' attack JAKARTA (JP): Dozens of students from Indonesia Christian University staged a demonstration in front of the university rectorate building in Cawang, East Jakarta, yesterday in protest against an attack by soldiers. Jakarta Military Command Spokesman Lt. Col. DJ. Nachrowi said Wednesday that the dispute began when a soldier saw a man extorting money from another man in front of the university campus on June 23.

ASEAN energy officials start annual meeting

ASEAN energy officials start annual meeting MANILA (Reuter): Senior ASEAN energy officials began their annual meeting yesterday and in two days of closed door talks are expected to further discuss plans for a regional gas pipeline system and an electricity grid. The gas pipeline system would link current and possibly planned pipelines in Thailand, Malaysia and Indonesia. ASEAN energy ministers will gather on Wednesday and issue a joint statement, Philippine Energy Secretary Francisco Viray said.

RI to send golfers to World Junior C'ship

RI to send golfers to World Junior C'ship JAKARTA (JP): Four junior Indonesian golfers, who regularly compete in the World Junior Championships in San Diego, U.S.A., will again represent their country at the prestigious event next month. The four golfers are Indra Hermawan, Alga Topan, Iin Setyawan and Hendrik, all from Tangerang's Pondok Cabe golf club. For the last four years they have been among the best 10 to 20 world junior golfers.

Baby survives car crash

Baby survives car crash BOYOLALI, Central Java: An 18-month-old baby survived a car crash which killed its parents here Sunday, a press report said yesterday. Antara did not say whether the baby was hurt but reported that its 32-year-old father and 27-year-old mother had died in their car which crashed head on with a bus. The bus driver said he had lost control of his vehicle because his brakes had failed. Eyewitnesses said the bus dragged the car for several meters.

PRD leaders 'yet to appeal' to Supreme Court

PRD leaders 'yet to appeal' to Supreme Court JAKARTA (JP): A lawyer representing the five Democratic People's Party (PRD) leaders convicted of subversion said yesterday that he would advise his clients to appeal to the Supreme Court. Luhut M.P. Pangaribuan said the Jakarta High Court's decision to uphold the Central Jakarta District Court's verdicts was procedurally defective. "For that reason the Supreme Court should order the high court to retry the case," he said.

Customs EDI fully operational in three years

Customs EDI fully operational in three years JAKARTA (JP): Only 52 foreign exchange banks are now connected to the customs electronic data interchange (EDI) system which was launched in April, causing problems for importers using the system, the customs said yesterday. Director General of Customs and Excise, Soehardjo Soebardi, told reporters that although his office had trained executives of 115 foreign exchange banks, only 87 banks had applied for an EDI registration number.

Used paper collection program

Used paper collection program JAKARTA (JP): A campaign for collecting and recycling used paper has drawn a positive response from companies and individuals, an editor of a local publication said. Editor of Aikon magazine, Ukke Kosasih, said Sunday at least nine tons of used paper had been received from eight large companies and individuals on the first day of the one-week campaign, sponsored by the magazine.

Asian gas, oil, diesel firmer in quiet market, say traders

Asian gas, oil, diesel firmer in quiet market, say traders SINGAPORE (Reuter): Singapore middle distillates prices rose on firmer crude values yesterday and expectations of stronger regional demand which could absorb the persistent oversupplies, traders said. They said Indonesia could be a big buyer in August -- projected at around six million barrels -- higher than their July purchases of about five million. Indonesia normally imports around four million barrels a month, traders said.

China, Denmark pull out of junior c'ships

China, Denmark pull out of junior c'ships JAKARTA (JP): China and Denmark will not take part in the Bumiputera Jakarta Open junior badminton championships which start today at Senayan Sports Hall. Organizer Leo Wiranata said yesterday China had said it would participate but had not sent its players. "We have twice asked China to send its players, but so far it has not sent anyone," Leo was quoted by Antaraas saying.

Asian crude mart expected to remain under pressure

Asian crude mart expected to remain under pressure SINGAPORE (Reuter): The Asian crude market is expected to remain under pressure over the next week as refinery maintenance shutdowns coupled with refinery run cuts reduce demand, traders said yesterday. Only heavy sweet Asian crudes, burned directly for power generation in north Asia, would see continued support from summer utility demand, traders said.

Boxing at Jakarta Fair

Boxing at Jakarta Fair JAKARTA (JP): Visitors can get a chance to practice boxing at a ring erected at the Jakarta Fairgrounds starting today. Organizers said amateur boxing sessions will run until Thursday from 5 p.m. to 6 p.m. Meanwhile, on Thursday, organizers of the fair in Kemayoran, Central Jakarta, will also hold a one-day session of professional boxing matches. But names of boxers have not been revealed.

Alternative migraine treatment

Alternative migraine treatment It was dispiriting, though not surprising, to read in The Jakarta Post (June 26) that the "migraine market" is not worth more than one billion dollars to drug companies. There are several reasons for concern. First, the drug companies are competing to find another magic way to ease the symptoms, not a method to eliminate the cause of migraine.

Most local artists care little about copyrights

Most local artists care little about copyrights JAKARTA (JP): Most Indonesian artists, because of their strong communal sense, are not assertive enough in claiming copyright for their work, a legal expert said yesterday. "Awareness among artists is increasing, but some sort of shock therapy is needed," said Henry Soelystio, head of the Legislative Research Division at the Cabinet Secretariat. "Many still create for the sake of dedication to art itself.

Soeharto asks the poor to save for education

Soeharto asks the poor to save for education JAKARTA (JP): President Soeharto urged poor families yesterday to save money to help finance their children's education. Speaking on National Family Day, Soeharto said the government was doing everything in its power through the nine-year compulsory education scheme to ensure that every child would go to school, but families also had to play their part.

Proposal on city bus fare hike being prepared

Proposal on city bus fare hike being prepared JAKARTA (JP): The City Land Transportation Agency (DLLAJ) will urge the government to raise the regular city bus fare as it is considered too low, an official said yesterday. Assistant secretary of economic and development affairs, Prawoto S. Danoemihardjo, said that the proposal was currently being prepared because the existing regular bus fare was no longer adequate to cover operational costs borne by bus companies.

Cooperatives get shares

Cooperatives get shares JAKARTA (JP): Seven publicly listed companies yesterday sold 5.87 million shares at par value to cooperatives to support the government's enhance equity development program.

Book fair aims to promote reading habits

Book fair aims to promote reading habits JAKARTA (JP): Children and parents flocked to book stalls at the National Monument Park in Central Jakarta to buy cheap books offered by 60 publishers at a two-day book bargain event, which ended Sunday. Parents and students over the weekend were seen carrying bundles of plastic bags filled with bargain-priced books. Children had an easy time persuading parents to buy books they were interested in, regardless of the hot sun beating down on them.

TV today

TV today TVRI 2:30 p.m. News: Lintas Nusantara 2:40 Travel: My Country 2:45 Children's Film: Silvan 3:00 News: Lintasan Berita 3:10 Teenagers' Program: Ramaja Indonesia 3:35 Music: Lagu Pop Daerah 4:00 Regional News 4:30 Science and Technology 5:00 English Lessons 5:25 Variety Show: Science World 5:30 Documentary Film 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 7:35 Development Program: Wawasan 8:00 News:...

Old woman found dead in Mangga Dua fire

Old woman found dead in Mangga Dua fire JAKARTA (JP): The charred remains of a 60-year-old woman were found in a house in Sawah Besar, Central Jakarta, after the house was gutted by fire Sunday. Than Nyuk Mei's body was found in the bathroom by her son. She was the only casualty of the fire which destroyed 217 homes on Jl. Budi Rahayu in Mangga Dua Selatan subdistrict. Two other people were slightly injured.

Assimilation problems

Assimilation problems From Media Indonesia Many of our citizens live in harmony respecting each other despite differences in ethnicity, religion and race. But conflicts still occur. I believe that differences, including marriage, should not govern our lives. But I have collided with a government regulation. My parents are categorized as Indonesian citizens of foreign origin. Consequently I fall into the same category. I have virtually no knowledge of my foreign origins. I only know Indonesia.

Bank Arta Prima needs proper handling: House

Bank Arta Prima needs proper handling: House JAKARTA (JP): Legislators warned the government yesterday to be careful how it settled the ailing Bank Arta Prima problem because mishandling could have a political impact that could affect the whole banking industry. Efforts to rescue Bank Arta Prima have been complicated by what analysts say was an alleged promissory notes scam related to the bank. Moreover, the Gunung Agung group is now trying to get the bank back from the Artha Graha group.