Indonesian Political, Business & Finance News

Archive: 12 August 1997

58 articles found

Soerjadi trusted to solve rift within PDI

Soerjadi trusted to solve rift within PDI JAKARTA (JP): The government disavowed yesterday responsibility over the fracture in the minority Indonesian Democratic Party (PDI), saying that it is chairman Soerjadi who should do more to settle the problems. The director general of sociopolitical affairs at the Ministry of Home Affairs, Sutoyo N.K., said yesterday the government hoped Soerjadi would not take a passive stance and settle the dispute without any outsider help.

Danamon's response

Danamon's response I am happy to write that my complaint regarding Bank Danamon's customer service (July 25) have received quick and positive response from the bank officers. Mr. Budi Satria Atmadi and Mr. Rensius Nainggolan have expressed their sincere concern about the matter and promised that improved customer service will follow. I hope this promise will soon materialize and benefit the bank as well as its customers. ALFONSUS S. Jakarta

ASEAN delays decision on Cambodian issue

ASEAN delays decision on Cambodian issue SINGAPORE (Agencies): ASEAN delayed a decision on when to let Cambodia join the organization yesterday but said the country's admission, deferred by recent political turmoil, was just a formality. "Cambodia is part of Southeast Asia. The timing for actual membership is just a formality," Philippines Foreign Minister Domingo Siazon said after a meeting of ASEAN foreign ministers.

Pesantren attracts Moslem women in 'jilbab'

Pesantren attracts Moslem women in 'jilbab' By Tedy Novan YOGYAKARTA (JP): Yogyakarta is not a santri or strict Moslem- town like Pekalongan in Central Java or Ponorogo in East Java but the city sees more and more Moslem women wearing jilbab (headwear) and cadar (veils). Their appearance draws much attention. Some women wear black robes which cover the entire body and leave no part visible. Sometimes they also cover their faces with black transparent cloth.

'Dzikir' recitation gains popularity

'Dzikir' recitation gains popularity By Abu Ibrahim, Tedy Novan and Sumanto YOGYAKARTA (JP); Ten Moslems, men and women, sat cross-legged on the floor, bodies straight, hands on knees. They looked in the direction of Mecca, Saudi Arabia. In the tranquility and cool of the evening air they were absorbed in recitation of the dzikir (prayer in remembrance of God). A young man, Nonot, led them through the dzikir.

Foreign retail chains eye Ujungpandang

Foreign retail chains eye Ujungpandang JAKARTA (JP): Several foreign and local retail chains plan to open their outlets in Panakukkang Mall, Ujungpandang, South Sulawesi, a report said yesterday. According to First Pacific Davies Indonesia (FPDI), retailers such as Wendy's Hamburger, Ku K Ru, Hartz Chicken Buffet, Texas Chicken, Melawai Optic, Century Health Care, and The 21 Studio Cineplex had confirmed their presence in the Panakukkang Mall.

Ridean books profit

Ridean books profit JAKARTA (JP): Tunas Ridean recorded a 61 percent increase in net profit to Rp 16.1 billion (US$6.3 million) in the first semester this year from Rp 10 billion in the corresponding period last year. The company, which operates in trading, services and an authorized dealer of Toyota, BMW, Daihatsu, Peugeot and Honda motorcycles, attributed the increase to the surge in its automotive division's profit.

Asia-Pacific buys more than 4m PCs in first half of 1997

Asia-Pacific buys more than 4m PCs in first half of 1997 HONG KONG (AFP): More than four million personal computers (PCs) were sold in the Asia-Pacific, excluding Japan, in the first half of 1997, research firm Dataquest Asia Pacific reported Monday, marking a 15 percent increase from the same period last year.

Rebels raid police outpost

Rebels raid police outpost MANILA (AFP): Suspected communist guerrillas raided a police outpost in a suburb east of the Philippine capital, Manila, killing a policeman and abducting a militiaman, national police and press reports said here yesterday. About 100 armed men, riding on two trucks, stormed the police detachment in Painaan district in the town of Antipolo on Sunday. Police said they could not immediately identify the attackers although press reports said they were communist insurgents.

Rubber trade worried about Thai stocks

Rubber trade worried about Thai stocks SINGAPORE (Reuter): Southeast Asian rubber prices are likely to drift lower this week due to soft demand while the trade keeps a wary eye on Thailand after reports emerged last week that Bangkok may sell off stocks, dealers said yesterday.

Investments in RP up 246%

Investments in RP up 246% MANILA (AFP): Approved investments in the Philippines soared 246. 3 percent year-on-year to 291.89 billion pesos (US$10.065 billion) in the seven months to July, the Board of Investments said yesterday. The figure covers 275 projects which provide employment to 84,566 people, the board said.

Diarrhea affects thousands

Diarrhea affects thousands SAMARINDA, East Kalimantan: Around 2,800 residents of Samarinda have been affected by a diarrhea outbreak that hit the East Kalimantan capital over the past month, Antara reported yesterday. Quoting the head of the provincial health office, Dr. H.M. Nuh, the news agency said some residents were seriously ill and had to be hospitalized. One patient died. Nuh called on the residents to avoid food that might be contaminated by the bacteria that causes diarrhea.

PTT to sell $2.5b stake

PTT to sell $2.5b stake BANGKOK (AFP): The state Petroleum Authority of Thailand (PTT) said yesterday it planned to raise up to 75 billion baht (US$2.5 billion) through the sale of shares to the public and strategic investors. PTT governor Pala Sookawesh said the agency and its financial advisors were finalizing a study of the listing plan, likely to be one of the largest in a number of such partial privatizations.

New design for three-tier transit system delivered

New design for three-tier transit system delivered JAKARTA (JP): The modified design of the Rp 6.05 trillion (US$2.3 billion) three-tier transit system linking the downtown Kota district and South Jakarta suburb of Bintaro was delivered to the municipality yesterday. A project officer of the contractor, PT Citramoda Margakencana Persada, Budisantoso Joewono, said the design was modified by adding light rail tracks to run alongside some of the planned tollway, as required by the municipality.

City committed to plan to restore green areas

City committed to plan to restore green areas JAKARTA (JP): The Jakarta administration says it is serious in its drive to restore the city's green areas, many of which have been lost to gas stations, government offices and electricity substations. As a first step, the administration would remove 35 gas stations built in green areas, the head of the Jakarta Parks Agency, Syamsir Alam, said yesterday.

19 Sri Lankans to be deported

19 Sri Lankans to be deported JAKARTA (JP): The government is to deport 19 Sri Lankans who were arrested in Kupang, East Nusa Tenggara and are currently being held at the immigration department's quarantine detention center on Jl. Kalideres, West Jakarta, for violating immigration regulations. The head of the department's control and supervision section, Zaiman Nurmatias, said yesterday that 19 people were arrested in Kupang July 26 for trying to illegally enter Australia by boat.

HK firm postpones property project

HK firm postpones property project HANOI (DPA): A one billion dollar foreign real estate development investment approved by Vietnamese authorities at the very end of last year has now been indefinitely postponed, according to an official report yesterday. Hong Kong's City Horse Trading ltd. company has apparently asked for the indefinite suspension because of difficulties raising capital for the US$997 million An Phu residential project, according to their local partners.

Asia-Pacific stocks slump in line with Wall Street

Asia-Pacific stocks slump in line with Wall Street TOKYO (AFP): Share markets across the Asia-Pacific region plunged Monday with some haunted by a sharp drop on Wall Street and others by the specter of currency volatility, Japanese share prices nosedived 4.0 percent with the sell-off on Wall Street and the yen's advance against the dollar triggering panic selling in late trading, brokers said.

Protected species

Protected species I was pleased to see your focus in the Aug. 3 edition on endangered species, and the challenges facing those committed to protecting these animals. It is a shame that the commitment is not one shared by some of the larger private companies in the country. On a recent visit to Pasaraya in Blok M, Jakarta, I was shocked and disturbed that among the many fine handicrafts were several preserved sea turtles, made into lamps and other ornaments.

TPI to air Grundy's quizzes

TPI to air Grundy's quizzes JAKARTA (JP): Privately owned television station, TPI, has signed an agreement with a local television program producer, Dunia Visitama Produksi, an affiliate of Australia's Grundy Worldwide Limited, to produce two quiz shows. TPI's managing director Tito Sulistio said on Sunday the two Grundy quiz programs, Sale of the Century and Take Your Pick, would be adapted for Indonesia.

Rupiah weakens further, stock prices tumble

Rupiah weakens further, stock prices tumble JAKARTA (JP): Share prices on the Jakarta Stock Exchange (JSX) tumbled by 2.6 percent yesterday as the rupiah continued losing ground. Securities analysts said the JSX Composite Index lost 17.26 points or 2.6 percent to close at 658.17, with 256.15 million shares worth Rp 456.48 billion (US$176.24 million) changing hands on the regular market.

Int'l donors pledge $16b for Thailand

Int'l donors pledge $16b for Thailand TOKYO (Reuter): The international community came to the rescue of financially strapped Thailand yesterday, pledging a total of US$16 billion in loans from the International Monetary Fund (IMF) and Asian nations led by Japan. The offer is the largest loan package to a single country since the IMF and donors led by the United States made nearly $40 billion available to Mexico in 1995.

Antam discusses listing

Antam discusses listing JAKARTA (JP): PT Aneka Tambang's (Antam) finance director, K.A. Umar Tochfa, said yesterday the state-owned general mining company had not yet decided where to list its shares when it makes its capital market debut later this year. "The subject of where to list the company's shares is still being discussed by shareholders," Umar Tochfa said in a statement correcting a report about the company's initial public offering (IPO) plan in this newspaper last week.

Singapore trade with ASEAN to exceed $71b

Singapore trade with ASEAN to exceed $71b SINGAPORE (AFP): Singapore's annual trade with its ASEAN partners should cross S$100 billion (US$71.42 billion) by 2000 amid rising economic cooperation in the region, the Trade Development Board (TDB) said yesterday. Apart from Singapore, the Association of Southeast Asian Nations (ASEAN) comprises Brunei, Indonesia, Laos, Malaysia, Myanmar, the Philippines, Thailand and Vietnam.

Nationalism faces different challenges

Nationalism faces different challenges JAKARTA (JP): Nationalism never changes in its shape but will always need a different spirit due to various challenges the nation faces, a minister and a political scientist said yesterday. Minister of Transmigration Siswono Yudohusodo said nationalism has always remained the same.

16 banks to lend $690 million for Timor car project

16 banks to lend $690 million for Timor car project JAKARTA (JP): A consortium of four state banks and 12 private banks decided yesterday to disburse US$650 million in 10-year loans to PT Timor Putra Nasional to carry out the national car project. Apart from the $650 million in loans, Bank Dagang Negara (BDN), as the consortium's leader, had earlier disbursed $40 million in bridging finance to Timor Putra.

Court rejects claim against Freeport

Court rejects claim against Freeport NEW YORK (Reuter): U.S. District Court in New Orleans rejected a second ammended complaint filed by an attorney representing the Amungme tribe in Indonesia against Freeport McMoRan Copper & Gold Inc charging human rights abuses, the company said in a statement late Friday.

Drought spreads, badly affects Yogyakarta, Aceh

Drought spreads, badly affects Yogyakarta, Aceh JAKARTA (JP): Many rice-producing areas in Java and Sumatra have begun to feel the pinch of this year's drought which could threaten national rice production. The severe drought, expected to last until the end of October, has forced 74,000 people in Gunung Kidul, Yogyakarta, to travel far to fetch water or to buy water from traders. Many there have been forced to share the precious water supply with their cattle.

TV today

TV today TVRI 2:00 p.m. News: Berita 14 2:30 Travel: My Country 2:35 Children's Film: Mooncat 3:10 Teenagers' Program: Ramaja Indonesia 3:35 Education Program: Kuliah Universitas Terbuka 4:00 Regional News 4:30 Teenagers' Drama: Retak 5:00 English Lessons 5:25 Variety Show: Music City Today 5:30 Documentary Film: Perjalanan ke Ranah Minang 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:...

Asian crude firm on improved mart demand

Asian crude firm on improved mart demand SINGAPORE (Reuter): The Asian crude market is expected to see some support this week on improved demand as refiners return from turnarounds while Iraqi crude stays away from Japan, traders said yesterday. They said news that Japan may not be given Iraqi crude should keep the Asian crude market from being flooded. Japanese companies were informed by Baghdad last week that they were unlikely to be allowed to take Iraqi crude in August.

Kedoya residents ask for payment

Kedoya residents ask for payment JAKARTA (JP): Residents of the Kedoya Utara subdistrict in West Jakarta complained at the National Commission on Human Rights yesterday about not receiving any compensation for the demolition of their homes by public order officers. Soepadmo, one of the eight people representing about 700 families, said that since the demolition of their houses in 1995, the residents had lived in tents and makeshift houses.

WB loans graft needs to be curbed

WB loans graft needs to be curbed By Kastorius Sinaga JAKARTA (JP): An allegation by an American expert recently that approximately one third of World Bank loans to Indonesia had been siphoned off by bureaucrats reminds us of a 1995 survey that ranked the country as the most corrupt in private investment. The allegation was made last month by Prof. Jeffrey Winters of Northwestern University, Illinois, and the survey was done by Transparency International.

Beware of Lippo Protection Plan

Beware of Lippo Protection Plan From Kompas I took out an insurance policy with Lippo Protection Plan in January 1996. I had to pay the monthly premiums into a Lippo Star account and for the first five months I duly received the relevant statements from Lippo Star and the debit notes from Lippo. After the fifth month they stopped sending the information. I inquired with customer service and was told that there was no problem. So I continued paying my premium into the Lippo Star account.

W. Java gets new police chief

W. Java gets new police chief BANDUNG: Maj. Gen. Chaeruddin Ismail was installed yesterday as West Java Police chief replacing Maj. Gen. Nana Permana who takes up a new post as inspector general of the National Police. Chaeruddin, 49, has served since 1996 as an expert in the National Police's criminology division. Leading yesterday's installation ceremony was National Police Chief Gen. Dibyo Widodo. (mds)

Satelindo targets higher profit

Satelindo targets higher profit JAKARTA (JP): Telecommunications operator PT Satelindo expects to net Rp 1.1 trillion (US$423 million) in revenue this year and plans to provide direct-to-home (DTH) television service next year. Company president, Iwa Sewaka, said here yesterday that Satelindo's net profit was projected at Rp 120 billion this year. "During the first six months, we gained about half of this year's targeted revenue," he said.

Where to go in Jakarta:

Where to go in Jakarta: Exhibitions * Graphics Exhibition: A European View (of Indonesia), old lithographs, engravings, and other graphics from Europe revealing the old way of life in Indonesia, at the Lagoon Tower, Jakarta Hilton International, Jl. Gatot Subroto, South Jakarta. The Lagoon Lounge open daily at 8 a.m. to 11 p.m., and Lagoon Bar, 5 p.m. to 1 a.m., until Aug. 25. * Photo Exhibition: Kota Kita, Jakarta Bermain dan Anak Jalanan, at Galeri Foto Jurnalistik Antara, Jl. Antara No.

Microsoft, partners open info centers

Microsoft, partners open info centers JAKARTA (JP): Software company Microsoft Indonesia and its partners will open information technology centers in Jakarta to promote its business applications for the finance industry, manufacturing, mining industry and Intranet/Internet users.

Medan bans sidewalk vendors

Medan bans sidewalk vendors MEDAN, North Sumatra: Residents are being asked to prevent sidewalks from becoming sidewalk stalls by the city administration. "The Medan administration is not forbidding residents from making a living by opening up a canteen in their yard. We just ask that they not allow vendors to use the sidewalks," said the head of city planning Aslan Harahap. We're not trying to prohibit people from selling things, but they have to follow rules," he said as quoted by Antara.

GRI buys leisure wear line

GRI buys leisure wear line SINGAPORE (Reuter): Indonesia's PT Great River International (GRI) said yesterday its unit Apparel World of Singapore bought a leisure wear line from Ossia International. It said in a statement the acquisition of the GFF Gianfranco Ferre line and the takeover of a boutique in Singapore shopping district Orchard Road cost Apparel World, which is its distribution and retailing arm, Singapore $1.6 million.

Globe-trotting for life's better picture

Globe-trotting for life's better picture JAKARTA (JP): Not many people are willing to leave behind their career, loved ones and motherland to pedal around the world on a bicycle. But Michel De Vos has taken the risk. He has already visited 36 countries including Bangladesh, the Czech Republic, Egypt, Greece, India, Israel, Iraq, Myanmar, Nepal and the Ukraine. He has covered 27,656 kilometers since leaving Flanders, his hometown in the northern part of Belgium, 420 days ago.

Stock Exchange

Stock Exchange Stock prices on the Jakarta Stock Exchange (in rupiah) on Aug. 11, 1997: Shares Close Change Trading Volume ---------------------------------------------------------- Ades Alfindo 1,025 25 26,000 AHAP Insurance 2,500 0 0 Alter Abadi 1,050 -50 91,500 Alumindo Light Metal 1,250 25 403,500 Alumindo Perkasa 750 0 0 Aneka Kimia Raya 1,300 -50 10,000 Anwar Sierad 1,100 0 619,500 Apac Centertex Corp.

Crime at the road

Crime at the road During the afternoon, cruising to a business appointment in Pasar Minggu, on turning left into Jl. Simatupang from Jl. Ampera Raya, we (driver and self) discovered a rupture in the car's rear tyre. We coasted down to a level spot and started to change the tire. On hearing an unusual noise I ventured to look under the vehicle to see most of the documents that were in my briefcase lying on the road.

Foreign investors pull out of Malaysia in droves

Foreign investors pull out of Malaysia in droves By Madhav Reddy KUALA LUMPUR (Reuter): After nine years of eight percent or more growth, the Malaysian economy was everybody's favorite at the start of 1997, a darling among emerging markets and for many good reasons.

Sunter Lake an ideal venue for skiing: Coach

Sunter Lake an ideal venue for skiing: Coach JAKARTA (JP): Water skiing coach Nico Abdurahman said yesterday that North Jakarta's Sunter Lake was suitable for 19th SEA Games water skiing events. Indonesia's water skiing team has been training there while waiting for the organizing committee's final decision on where to hold the water skiing events. "We hope the SEA Games water skiing events will be at Sunter Lake," he said.

Malaysian ringgit hits fresh 42-month low on sales

Malaysian ringgit hits fresh 42-month low on sales KUALA LUMPUR (Reuter): The Malaysian ringgit extended its freefall against the dollar yesterday, hitting a 42-month low on sales from offshore investors, and most foreign exchange dealers expect further losses. At 0730 GMT, the ringgit was languishing at 2.7337/47 to the dollar -- its weakest level in 42 months.

Religious revival becomes a trend among local Moslems

Religious revival becomes a trend among local Moslems By Abu Ibrahim, Tedy Novan and Sumanto YOGYAKARTA (JP): A religious revival has become a trend among many Moslems. Recitation sessions are no longer dominated by the santri (strict followers of Islam) only. All kinds of people -- from government officials to cabinet ministers, businesspeople, artists and professionals -- now come. The groups have varied names -- Tadarus, Sema'an Al-Quran, Istiqhatsah, Mujahadah Akbar, Manakib, etc.

Tight money hits stock

Tight money hits stock Last Thursday's 3.13 percent fall in share prices in Jakarta -- the steepest slide in one day's trading after the almost 5 percent plunge on July 29 last year as the impact of major riots in the capital -- once again told of the difficult choices the monetary authorities often have to make in coping with economic problems while managing the competing objectives of the various sectors of the economy.

Traveler found dead in Puncak

Traveler found dead in Puncak BOGOR, West Java (JP): A man believed to have been involved in a late-night road accident was found dead in a dry water drain near here Sunday morning. He had been on a trip to the mountainous Puncak resort with 70 work colleagues. The body of Ferry Picatoransah, 30, was identified by friends at PMI Hospital here several hours after he was found by residents of the Kebon Jahe subdistrict at kilometer 81 on Jl. Raya Puncak.

RI boxers are good even 'without the Baharis'

RI boxers are good even 'without the Baharis' JAKARTA (JP): National Sports Council chairman Wismoyo Arismunandar told national boxers to do their best at the 19th SEA Games here in October, even though the Bahari brothers were not in the squad. "Show the people that without Pino Bahari and Nemo Bahari, you are still the best," he said.

Sucofindo to help Bapindo lessen debt

Sucofindo to help Bapindo lessen debt JAKARTA (JP): State-owned surveying company PT Superintending Company of Indonesia (Sucofindo) agreed yesterday to help state- owned Bank Pembangunan Indonesia (Bapindo) minimize bad credit risk. Sucofindo's finance and administration director Wahyu Hidayat said his company would provide investment, assets, technique assessment and evaluation on companies requesting Bapindo's loan facilities.

Briton found dead in his apartment

Briton found dead in his apartment JAKARTA (JP): A diabetic Briton was found dead in his apartment in the Setiabudi district, South Jakarta, yesterday, police said. The victim was identified as David Geschal, 48, a manufacturing director for PT Pirelli Cables Indonesia, an Italian joint venture company. He was discovered by an employee of the Lippo Apartment who was alerted by Geschal's driver. The driver, Anes, had become suspicious when Geschal did not come down on time.

City revising revenue bills to satisfy new regulation

City revising revenue bills to satisfy new regulation JAKARTA (JP): The municipality is in the process of revising its revenue bills to bring them into line with the government's new regulations and laws on local taxes and fees, a member of the City Council said yesterday. Amarullah Asbah, chairman of the council's Commission C on financial affairs, said the revision was being worked out at the request of the City Council.

Jasindo expects 10 percent increase in profit this year

Jasindo expects 10 percent increase in profit this year JAKARTA (JP): PT Asuransi Jasa Indonesia (Jasindo) expects a 10 percent increase in premium income and net profit this year, an executive of the state-owned insurance company said yesterday. Company president Amir Imam Poeroe said here yesterday that next year's net profit would far exceed the initial target of Rp 25 billion (US$9.65 million).

Tambang Timah maintains target output

Tambang Timah maintains target output JAKARTA (JP): Publicly listed tin mining company PT Tambang Timah will not reduce its initial production target of 47,000 tons this year despite the drop in tin prices since early this year, the company said yesterday.

Rights activism blamed for riots

Rights activism blamed for riots JAKARTA (JP): National Police Chief Gen. Dibyo Widodo blamed yesterday recent riots on many problems, including human rights issues. At a ceremony installing Maj. Gen. Chaerudin Ismail as chief of West Java Police in Bandung, West Java, Dibyo said the riots were launched under the pretext of human rights struggles and linked with either ethnic or religious issues.

Moslem ulemas allow strikes, demonstrations for 'justice'

Moslem ulemas allow strikes, demonstrations for 'justice' SURABAYA (JP): Around 100 influential ulemas gathered for a two-day workshop and concluded yesterday with an endorsement for strikes and demonstrations "as long as they are held in search of justice." The leading members of the local branch of Nahdlatul Ulama (NU), which is Indonesia's largest Moslem organization, said that Islam considered justice and the search for it a very important matter.

Ebony smuggling go on in Sulawesi

Ebony smuggling go on in Sulawesi PALU, Central Sulawesi: Central Selawesi Governor H.B. Paliudju lamented yesterday that between 5,000 and 10,000 cubic meters of ebony are smuggled out of the province each year. "Most of the illegal ebony which gets out of the country is smuggled to Sabah, East Malaysia," he said during a hearing with the provincial legislative council yesterday.

No sign of ICMI-Golkar friction: Siswono

No sign of ICMI-Golkar friction: Siswono JAKARTA (JP): Golkar's decision to remove five senior Association of Indonesian Moslem Intellectuals (ICMI) members from the faction's nomination list for the People's Consultative Assembly (MPR) should not be seen as a sign of friction between the two organizations, Minister of Transmigration Siswono Yudohusodo said yesterday. Siswono said the exclusion was "normal" because of Golkar's huge membership which makes it impossible for it to include all.