Indonesian Political, Business & Finance News

Archive: 13 August 1997

56 articles found

Thieves on the airplane?

Thieves on the airplane? From Republika On July 4 I flew with Sempati Air to Medan. The flight number was SG 500 and the plane was scheduled to leave at 9:30 a.m. but it was delayed until 10:30 a.m. The flight number was changed to SG 622 and the itinerary was altered to include a diversion to Batam. The flight from Jakarta to Medan took three hours. On arrival I was surprised to find that the padlock on my travel bag had disappeared, although nothing in the bag was missing.

Megawati's actions constitutional: ABRI

Megawati's actions constitutional: ABRI JAKARTA (JP): The Armed Forces (ABRI) said ousted Indonesian Democratic Party (PDI) chief Megawati Soekarnoputri has not committed any unconstitutional acts in her battle to regain her position. The statement was given yesterday by ABRI Chief of Sociopolitical Affairs Lt. Gen. Syarwan Hamid, who said there was no evidence that Megawati has broken any laws.

Hartono vows to punish erring radio stations

Hartono vows to punish erring radio stations SURABAYA (JP): The government has placed several municipal government-run and private radio stations under scrutiny for alleged fraud. Minister of Information R. Hartono said after dedicating a paper factory in Gresik, East Java, yesterday, that radio stations under control of municipal governments had illegally aired commercials.

Hazy problem

Hazy problem It's that time of the year again. Haze, due to billowing smoke from forest fires, has clouded many parts of the archipelago, particularly in Sumatra and Kalimantan. The haze is wreaking havoc with people's daily activities and becoming a health hazard. The lack of visibility has also disrupted flights and shipping services. Our neighbors -- Singapore, Malaysia and Brunei -- are also affected whenever the wind blows in their direction. So far they have not complained too loudly.

Slaughterhouses blight residents' lives

Slaughterhouses blight residents' lives JAKARTA (JP): Residents of Pondok Rumput village in the Kebon Pedes subdistrict, Tanah Sereal, are calling on the local authorities to immediately relocate the dozens of chicken slaughterhouses which have blighted their lives for more than 10 years. But the authorities claim they have only recently received promises of enough money to undertake a three-year-old relocation plan and will not give a fixed date for the move.

Govt decides to stop cutting clove trees

Govt decides to stop cutting clove trees JAKARTA (JP): The government has decided to stop the conversion of clove trees into other crops as cigarette makers' demand for the spice is on the rise. Minister of Cooperatives and Small Enterprises Subiakto Tjakrawerdaya said here yesterday after meeting with President Soeharto that the government would now pursue the clove intensification program to boost production.

Pakpahan's case won't be reviewed

Pakpahan's case won't be reviewed JAKARTA (JP): Chief Justice Sarwata said the Supreme Court will not issue a ruling on the review of a guilty verdict against labor leader Muchtar Pakpahan currently being examined by the East Jakarta District Court. Sarwata maintained that the Supreme Court can only give such legal consideration when a request is made by a government institution.

All sports events to go ahead at SEA Games

All sports events to go ahead at SEA Games JAKARTA (JP): The 19th SEA Games training director Djoko Pramono said here yesterday that contrary to news reports no events were due to be canceled. "No sports will be scratched from the Games. Unless some countries withdraw from events," he said. The Organizing Committee's competition deputy, M. Hindarto, said Monday that six events were in doubt because only three countries had registered to participate in them.

BHP, Timor partner lock horns over Timor project

BHP, Timor partner lock horns over Timor project SYDNEY, Australia (AP): A rift between BHP and U.S.-based Phillips Petroleum is delaying their joint development of the massive Bayu-Undan gas fields in the Timor Sea off Darwin. The US$2.22 billion-plus (above A$3 billion) Liquefied Natural Gas (LNG) project now appears to be drifting as BHP Petroleum and Phillips each remain convinced of their own development options for the project.

Region needs solid Sino-U.S. ties

Region needs solid Sino-U.S. ties By Rizal Sukma JAKARTA (JP): The question of a "China threat" once again came to the fore when President Fidel Ramos of the Philippines called for reinforcing defense ties in the region, as reported by South China Morning Post, Aug. 1. It is widely speculated that Ramos' call was driven by Manila's concern over China's growing military modernization and its possible implications for Beijing's policy toward territorial claims in the Spratly Islands group.

Comparative corruption: Asia doesn't shine

Comparative corruption: Asia doesn't shine Recent news stories reported that Denmark was the least corrupt nation while Nigeria was the most corrupt. Our Asia correspondent Harvey Stockwin delves into the surveys behind the corruption index, which attempts to measure the extent to which nations fall prey to corrupt practices. HONG KONG (JP): Indonesians concerned about the growth of corruption in their country should have been happy with the results of a recent survey.

Uncertain promise

Uncertain promise On behalf of my father, who is a member of Veteran corps, I would like to inform you that after about three years since we got the Veteran's certificate, we haven't received the compensation money yet, that has been promised to us. As veterans living in Manggis, Kaliloka, Sirampog sub- district, Brebes, Central Java, we hope that the promise would be fulfilled soon. My parent has spent a lot of money (about one million rupiah) to get things related to this veteran matter done.

Last trump traps Wolff

Last trump traps Wolff By Djanwar Madjolelo JAKARTA (JP): The 5th Forbo-Kromenie International Bridge Tournament was held in the Hague from Feb. 21 to Feb. 23, 1997 with an Open Team Event. This interesting hand from the Open Team Event was played by Nickell of the USA team -- which won the World Champion Bermuda Bowl -- against Zandvoort of the Dutch team.

Two phone fraudsters face jail

Two phone fraudsters face jail JAKARTA (JP): A state-prosecutor asked the Central Jakarta District Court yesterday to sentence two foreigners to 10 months imprisonment for allegedly abusing cellular phone numbers belonging to seven Indonesians. Prosecutor Ohoi Ulun said the defendants, Ng Chee Leong, 28, of Malaysia and Hasnat Ahmad Varya, 25, of Pakistan were charged with Article 12 of the 1989 Law on Telecommunication pertaining to violations of telecommunication rules.

Lippo Bank's profit up

Lippo Bank's profit up JAKARTA (JP): Publicly listed Lippo Bank of the widely diversified Lippo Group posted a 58.8 percent rise in net profit to Rp 87.2 billion (US$36 million) in the first half this year. The bank said yesterday that income from operations rose 60 percent to Rp 121.2 billion and pretax income grew 57.1 percent to Rp 124 billion.

Thailand to get $1.2b in bailout from ADB

Thailand to get $1.2b in bailout from ADB MANILA (AFP): The Asian Development Bank (ADB) said yesterday it would provide US$1.2 billion over the next three years as part of a multilateral effort to stabilize the Thai economy. The $1.2 billion is part of $16 billion raised Monday by the International Monetary Fund (IMF) to bailout Thailand which floundered following speculative attacks on the baht.

Stock Exchange

Stock Exchange Stock prices on the Jakarta Stock Exchange (in rupiah) on Aug. 12, 1997: Shares Close Change Trading Volume --------------------------------------------------------- Ades Alfindo 1,000 -25 154,500 AHAP Insurance 2,500 0 0 Alter Abadi 1,075 25 104,500 Alumindo Light Metal 1,250 0 242,500 Alumindo Perkasa 750 0 10,000 Aneka Kimia Raya 1,275 -25 41,000 Anwar Sierad 1,175 75 4,025,000 Apac Centertex Corp.

Analysts warns about loans for Timor car

Analysts warns about loans for Timor car JAKARTA (JP): The US$690 million in syndicated loans to be provided by domestic banks to PT Timor Putra Nasional to carry out the national car project could turn sour and become bad debts, analysts warned yesterday. Economist Faisal Basri from the University of Indonesia and automobile analyst Suhari Sargo doubted Timor Putra's capacity to repay the debts in view of the small sales target set by the company.

Get the know-how, not just the factories: Soeharto

Get the know-how, not just the factories: Soeharto JAKARTA (JP): President Soeharto urged Indonesians yesterday to acquire technological know-how, arguing that building factories alone would not be enough to secure the country's survival in the era of technology. Soeharto noted that it would be very difficult for Indonesian industry to succeed if factories were built but management and technology were not understood.

Astra credit companies

Astra credit companies Our foundation, Yayasan Pijit Berdiploma Indonesia, purchased two Isuzu Panthers from PT Dunia Baru with a two-year financing arrangement. The vendor arranged the finance with two different Astra Credit Companies. With both companies, the total amounts to be repaid were inclusive of the prevailing flat interest rate for 24 months but the credit period was for 23 months. We were forced to pay the first month's installment in advance.

Redesign of educational systems needed: Expert

Redesign of educational systems needed: Expert JAKARTA (JP): An expert suggested that Asia-Pacific countries redesign their educational systems so that they give more attention toward the element of emotion in the learning process. Henry S. Tenedero of the Manila-based Center for Learning and Teaching Styles made the suggestion during a break at a seminar on the newly introduced concept of the emotional intelligence quotient (EQ) yesterday.

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.

Rupiah falls again but stock prices gain ground

Rupiah falls again but stock prices gain ground JAKARTA (JP): The rupiah remained weak against the U.S. dollar yesterday, but Jakarta share prices increased slightly in a technical rebound, analysts said. Foreign exchange dealers said the further weakening of the rupiah was triggered by falls in the Singapore dollar and Malaysian ringgit.

Subic sets sights on becoming another HK

Subic sets sights on becoming another HK By Claire Wallerstein SUBIC BAY, Philippines: Five years after the eviction of U.S. troops from their largest base in Asia, Subic Bay has set its sights on the ambitious goal of becoming the region's next Hong Kong. Subic's reincarnation scheme is the result of a potential disaster in 1991, when an increasingly nationalistic Philippine senate refused to renew the base's 46-year lease.

ASEAN flexibility

ASEAN flexibility ASEAN's foreign ministers have taken a decision that will compel the organization to stay busy with Cambodia. In their meeting in Singapore on Monday, the foreign ministers agreed to continue their efforts to try to find a solution to the Cambodian problem. The question of recognizing Ung Huot as first prime minister was reportedly not discussed, and neither was that of Cambodia's entry into ASEAN.

ICMI accepts Golkar's decision on MPR

ICMI accepts Golkar's decision on MPR JAKARTA (JP): Chairman of the influential Association of Indonesian Moslem Intellectuals (ICMI) B.J. Habibie accepted yesterday Golkar's decision to remove five senior ICMI members from the faction's nomination list for the People's Consultative Assembly (MPR). "No problem," said Habibie, who is also state minister of research and technology.

Yunus to replace Syarwan next month

Yunus to replace Syarwan next month JAKARTA (JP): Armed Forces Chief of Sociopolitical Affairs Lt. Gen. Syarwan Hamid, who becomes a legislator with the House of Representatives on Oct. 1, will transfer his current duties next month to his successor, Maj. Gen. M. Yunus Yosfiah. Yunus is currently chief of the Armed Forces Staff and Command School in Bandung, West Java. Syarwan quoted Armed Forces Chief Gen.

Trade surplus reached $970.7m in May: Tunky

Trade surplus reached $970.7m in May: Tunky JAKARTA (JP): Minister of Industry and Trade Tunky Ariwibowo yesterday reported a steep rise in trade surplus for May, which reached US$970.7 million, compared with $134.1 million at the same time last year. Tunky also revealed that total trade surplus for the first five months of this year increased 57.89 percent to $3.31 billion over the same period last year.

Iwik's rebuttal 'incorrect'

Iwik's rebuttal 'incorrect' YOGYAKARTA: The prosecutor here demanded that the court disregard the rebuttal statement of Dwi Sumadji, alias Iwik, who is being tried over last year's murder of Bernas journalist Fuad M. Syafruddin. Amrin Naim told the Yogyakarta District Court that Iwik's statement should have been brought before a pretrial court hearing instead of the current trial.

Colombo to try to capture key highway

Colombo to try to capture key highway COLOMBO (AP): Sri Lankan government troops were beefing up their strength and preparing to wrest a key road junction from Tamil Tiger guerrillas on the main highway in northern Sri Lanka, military officials said yesterday. Air force jets bombed guerrilla defenses near Puliyankulam junction early yesterday to prevent the rebels from digging trenches and sowing mines before the soldiers advance, said military officials on condition of anonymity.

TV today

TV today TVRI 2:00 p.m. News: Berita 14 2:30 Travel: My Country 2:35 Family's Film: Big Brother Jake 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 7:35 Entrepreneurship Program: Mitra Kita 8:05 TV Drama: Bulan Sepotong Mimpi 9:00 World News 9:30 Music: Gebyar...

Bankers probed on missing Rp 83b

Bankers probed on missing Rp 83b JAKARTA (JP): Police are questioning six former executives of a private bank arrested recently for allegedly defrauding their own bank of Rp 83 billion (US$32 million). City Police Spokesman Lt. Col. E. Aritonang said yesterday the number of suspects in the Bank Asta case might rise following the questioning. "All six former executives are being detained at the city police headquarters," Aritonang said.

Kahfi nominated as vice governor

Kahfi nominated as vice governor JAKARTA (JP): Central Jakarta Mayor Abdul Kahfi has been nominated by the city council to be deputy governor of welfare affairs, replacing Museno who has just retired. The council also nominated Maj. Gen. Djaelani, an assistant to State Minister of Population/Chairman of the National Family Planning Board, to be deputy governor of administrative affairs, replacing Idroes who is to join the House of Representatives.

Tribespeople found starving

Tribespeople found starving GORONTALO, N. Sulawesi: Villagers found yesterday nine starving isolated Palahi tribespeople who came down from Boliohuto mountain, where they live, to the nearby Ilangata village in search of food.

Police want severe penalties for drug users

Police want severe penalties for drug users JAKARTA (JP): City Police Chief Maj. Gen. Hamami Nata urged the courts yesterday to mete out heavy sentences to psychotropic drug users to discourage them and other people from consuming the drugs. "The courts must give heavy sentences to the drug users according to Law No. 5/1997 on psychotropic drugs," Hamami said after installing eight new officers at the City Police Headquarters.

Norwest's float for Timor exploration

Norwest's float for Timor exploration SYDNEY (Reuter): Oil and gas hopeful Norwest Energy NL launched a float yesterday to raise A$15 million to explore five prospects in the Timor Sea and Northern Territory. Norwest said it would offer 75 million or 80 percent of its shares at 20 cents each and use the funds to spend A$13 million to drill five wells in its first two years and conduct a seismic survey.

Funds from COW applicants legal, Adjat says

Funds from COW applicants legal, Adjat says JAKARTA (JP): Director General of Mining of the Ministry of Mines and Energy Adjat Sudradjat admitted yesterday to accepting money from applicants of seventh generation contracts of work (COWs). Adjat, however, said the payments were legal and would be used to cover the cost of photocopying the COW documents.

Legislator eases public worry over manpower bill

Legislator eases public worry over manpower bill JAKARTA (JP): A legislator tried yesterday to assuage public concern over the controversial manpower bill, which has been widely criticized for alleged disregard of workers' rights. Muhsin Bafadal of the United Development Party (PPP) said all House factions would seek every avenue to ensure that the bill, currently being deliberated, would not harm workers' rights.

Lonsum's profit rises 43%

Lonsum's profit rises 43% JAKARTA (JP): Plantation company PT PP London Sumatra (Lonsum) increased its net profit by 43 percent to Rp 43.98 billion (US$16.98 million) for the first semester of this year, up from Rp 30.71 billion in the corresponding period of last year. The company said yesterday that its total revenue was Rp 100.88 billion in the Jan.-to-June period of this year.

558-meter-high tower to 'lift Jakarta's image'

558-meter-high tower to 'lift Jakarta's image' JAKARTA (JP): Minister/State Secretary Moerdiono officially started the construction of the ambitious 558-meter Menara Jakarta, heralded as the world's tallest tower, at Kemayoran in Central Jakarta yesterday. In his speech, Moerdiono underlined the government and President's support for the US$560-million project and asked for the work to be done meticulously and thoroughly.

New chief at Air Force academy

New chief at Air Force academy YOGYAKARTA (JP): Air Force Chief of Staff Marshal Sutria Tubagus installed yesterday Rear Marshal Cheppy Hakim as governor of the Air Force's Academy. Cheppy, from the academy's class of 1971, replaced Rear Marshal Gandhy Natasupadma who has been appointed to represent the Armed Forces faction at the House of Representatives.

Captive audiences

Captive audiences From Surabaya Post As there are plans to revise the Law on Relays as it pertains to radio and television, I would like to make a few suggestions. It is now compulsory for all radio and television stations to relay particular live programs in addition to the Laporan Khusus, or special report. The required daytime TV transmissions are sometimes rebroadcast in the evening.

Satellite towns not yet self-sufficient: Expert

Satellite towns not yet self-sufficient: Expert JAKARTA (JP): They may claim to be "self-sufficient" but an urban expert says most of the new towns that have mushroomed around Jakarta are nothing but satellite cities. A self-sufficient city (Kota Mandiri) should be able to provide not only housing, but an economy of its own, including industries which can generate jobs for its residents, Muhammad Danisworo of the Bandung Technology Institute said yesterday.

SE Asian currencies depressed

SE Asian currencies depressed SINGAPORE (Reuter): The Singapore dollar's sudden drop through a key support level yesterday weighed heavily on other Southeast Asian currencies by triggering fresh buying of the U.S. dollar across the board. The Singapore dollar fell through the psychological 1.50 to the U.S. dollar level in early trade and then slid to a 37-month low of 1.5140 on stop-loss sales before recovering a little.

Sierad plans to issue bonds worth Rp 300b

Sierad plans to issue bonds worth Rp 300b JAKARTA (JP): PT Sierad Produce, a subsidiary of the publicly listed PT Anwar Sierad, plans to issue five year bonds worth Rp 300 billion (US$115.83 million) later this year to finance expansion, a company executive said yesterday. Senior Vice President Sidhesh Kaul said that Rp 180 billion of the bond proceeds would be used to expand the company's retail business.

MMI takes stake in RI venture

MMI takes stake in RI venture SYDNEY (AFP): Australian insurance group MMI Ltd. said yesterday it had taken a 20 percent stake in German general insurer Allianz AG's Indonesian joint venture for A$6 million (US$4.4 million). Manufacturers Mutual Insurance's' investment in Jakarta-based PT Asuransi Allianz Utama Indonesia follows its 23.9-million- dollar acquisition of 20 percent in Allianz Insurance (Singapore) Pte Ltd., announced Sunday.

Computer expo to open soon

Computer expo to open soon JAKARTA (JP): An exhibition scheduled for later this month is expected to showcase the local computer industry, organizers said yesterday. The Indonesian Computer Technology Exhibition (Indocomtech'97), to be held at the Jakarta Convention Center from Aug. 21 to Aug. 25, is sponsored by the Indonesian Computer Business Association (Apkomindo). The exhibition would show that Indonesia was also developing its computer industry, said association chairman Sonny Franslay.

No special ruling is required on vice president's role: Muladi

No special ruling is required on vice president's role: Muladi SEMARANG (JP): Political scientists protracted the debate over an increased role for the vice president, arguing yesterday whether or not such a role should be arranged through a legislative ruling. Noted political scientist Muladi said there was no need for such a ruling since it would be the president who mostly determines the extent of the vice president's responsibilities.

Spotlight

Spotlight Photo A: Award JP/bay SAY IT WITH FLOWERS: General Manager of PT Unilever Indonesia Hanafiah Djajawinata (left) hands over a bouquet to Dolorosa Sinaga, a sculptor and dean of the School of Fine Arts, Jakarta Institute of Art. Sinaga received the Citra Adhikarsa Budaya '97 award Friday at Hotel Regent, South Jakarta, for her dedication in the field of arts and culture.

Oil faking gang uncovered

Oil faking gang uncovered JAKARTA (JP): Forty-two members of the Armed Forces (ABRI) and nine civilians have been arrested for their alleged involvement in a gang specializing in making counterfeit oil fuel. The commander of the Military Police, Maj. Gen. Syamsu D., was quoted by Antara as saying Monday that the 42 officers and nine civilians were arrested last Thursday.

Riau Pulp secures $300m loan

Riau Pulp secures $300m loan NEW YORK (Reuter): P.T. Riau Andalan Pulp & Paper, a subsidiary of Asia Pacific Resources International Holdings Ltd, said Monday it had secured US$300 million in financing for tender offers for certain bonds it began in mid-July. It secured $230 million under an agreement it signed July 9 with a syndicate of Indonesian financial institutions, the pulp and paper company, also known as Riaupulp, said. A further $70 million has been provided by P.T.

N. Jakarta mayor berates negligent factory owners

N. Jakarta mayor berates negligent factory owners JAKARTA (JP): North Jakarta Mayor Suprawito has threatened to take stern action against factories which recklessly dump their waste into rivers. The owners would have their factories' waste treatment facilities closed if they ignored notification letters from the mayoralty, Suprawito said Monday.

Jl. Jaksa fair goes global

Jl. Jaksa fair goes global JAKARTA (JP): The Jl. Jaksa Fair is firmly establishing itself as one cultural event in the city's annual agenda by going global in its fourth year. Besides presenting Betawi (native Jakarta) cultures and art performances, this year's festival on Aug. 26 to Aug. 30 will present for the first time a foreign entry: art performances from New Zealand. There will also be contributions from other parts of Indonesia during the Pesta Jl. Jaksa 1997, the organizers said.

INACA wants government to hike domestic airfares

INACA wants government to hike domestic airfares JAKARTA (JP): The Indonesian National Air Carriers Association (INACA) wants the government to raise domestic economy airfares gradually, and in real terms, not just to adjust fares to the rupiah's depreciation against the U.S. dollar. INACA's secretary-general, Benny Rungkat, said here yesterday that airfares in Indonesia were much lower than in other countries.

Presidential decree on private refineries issued

Presidential decree on private refineries issued JAKARTA (JP): The government has issued a presidential decree to encourage the development of privately owned refineries in order to fulfill the country's increasing demand for fuel. According to the presidential decree dated July 31, private refineries can be set up by Indonesian companies after receiving permission from the President.

S. Korean man believed drowned

S. Korean man believed drowned DENPASAR, Bali: Kuta beach rescuers are still searching for the body of a South Korean man who was reported missing after he went swimming on Saturday. "We're still combing the shore along Kuta to find the body of the tourist," Antara quoted a local lifeguard as saying. The young Korean man, Lee Seong Weon, was reported to have drowned while swimming along the famed seafront.