Indonesian Political, Business & Finance News

Archive: 30 August 1997

58 articles found

Admadjaya still controls Bank Danamon

Admadjaya still controls Bank Danamon JAKARTA (JP): The Admadjaya family said yesterday they remained the majority shareholder of the publicly listed Bank Danamon which was recently battered by rumors of clearing loss.

World top car racers join in Rally of Indonesia '97

World top car racers join in Rally of Indonesia '97 JAKARTA (JP): Some of the world's top rally racers have confirmed their participation in the Rally of Indonesia '97, scheduled to be held in Medan, North Sumatra, from Sept. 9.

General Motors stands firm on national car dispute

General Motors stands firm on national car disputeBy John Aglionby UNITED STATES automotive giant General Motors looks set to keep all new models out of Indonesia until the dispute over the country's national car policy is resolved.

Texmaco's sales up 98%

Texmaco's sales up 98% JAKARTA (JP): Publicly listed engineering company PT Texmaco Perkasa Engineering recorded an 98 percent increase in net sales to Rp 276.7 billion (US$104.41 million) in the first semester this year from Rp 139.7 billion in the same period last year.

Unscrupulous labor agents to face Army

Unscrupulous labor agents to face Army JAKARTA (JP): President Soeharto has ordered the Armed Forces to back up provincial authorities' crackdown on unscrupulous labor agents who cheat young people into working abroad illegally.

Caves potential tourist site

Caves potential tourist site BANYUWANGI, East Java: Hundreds of caves left by the World War II Japanese army in Banyuwangi, East Java, have yet to be turned into tourist attractions, a local official was quoted by Antara as saying.

Underground map vital for subway project: Surjadi

Underground map vital for subway project: Surjadi JAKARTA (JP): Governor Surjadi Soedirdja wants the administration to develop an underground map of the capital before subterranean development projects begin.

Sober religious tale belies during acrobatic performance

Sober religious tale belies during acrobatic performanceBy Yogita Tahil Ramani JAKARTA (JP): Droves of people pressed forward for a closer look as the woman deftly twirled a baton and simultaneously tossed wooden boxes, a couple of stools and more with her strong flailing legs.

Gulf Canada files for Indonesia IPO unit

Gulf Canada files for Indonesia IPO unit CALGARY (Reuter): Gulf Canada Resources Ltd said yesterday it filed for a much-anticipated initial public offering of its Gulf Indonesia Resources unit, operator of the company's extensive Indonesia oil and gas operations.Gulf said in its statement to the U.

Oka aims for Indonesian, Malaysian armies

Oka aims for Indonesian, Malaysian armiesBy Neil McDonald AUSTRALIA's rugged four-wheel drive Oka vehicles looks set to become a preferred military transport vehicle in both Indonesia and Malaysia.Apart from the Indonesians, the Malaysian army is looking at buying the 2.

Haze forces river travel

Haze forces river travel SAMARINDA, E. Kalimantan: Hundreds of people from the northern part of the province had to resort to traveling by boat to Samarinda after perpetual thick smoke created poor visibility and forced the closing down of three airports here.

Currency speculators

Currency speculators The recent bashing of so-called "currency speculators" in Southeast Asian countries deserves to be looked at from another perspective.These players are labeled speculators because there is no certainty that their actions will be profitable.

Fears of gangland war rises in Japan

Fears of gangland war rises in Japan TOKYO (AFP): Fears of gangland warfare escalated across Japan yesterday after the number two man in the country's biggest organized crime syndicate was shot dead in a hotel cafeteria in the western city of Kobe.

Sales of stickers for vehicle owners

Sales of stickers for vehicle owners JAKARTA (JP): Vehicle owners renewing documents at City Police headquarters from Monday will be forced to buy stickers to finance the 19th Southeast Asian Games, an official said yesterday.The city's coordinator for vehicle ownership documents, Manahan P.

Stock Exchange

Stock ExchangeStock prices on the Jakarta Stock Exchange (in rupiah) on Aug. 29, 1997: Shares Close Change Trading Volume ----------------------------------------------------------- Ades Alfindo 700 -75 20,000 AHAP Insurance 2,500 0 0 Alter Abadi 1,025 25 25,000 Alumindo Light Metal 725 -25 895,000...

Legislators urged to be more critical

Legislators urged to be more critical JAKARTA (JP): House Speaker Wahono called on members of the House of Representatives yesterday to pump up their courage and dare to criticize government policies.Wahono said in his speech which marked the 52nd anniversary of the House, which is often criticized...

Coca Cola Cup final in Aceh

Coca Cola Cup final in Aceh JAKARTA (JP): Four Under-16 Indonesian soccer teams will compete at the semifinals and final of the 1997 Coca Cola Cup in Banda Aceh on Sept. 7 and Sept. 8.The cup has been organized annually since 1986 to commemorate National Sports Day, Sept.

Setiabudi fire victims banned from rebuilding

Setiabudi fire victims banned from rebuilding JAKARTA (JP): South Jakarta Mayor Pardjoko has banned the residents of Setiabudi district whose houses and shops were razed by fire Thursday from rebuilding their properties.

Soros's investment

Soros's investment Referring to the news report concerning PT Datakom Asia published in Thursday's (Aug.28) paper (Page 1), it was mentioned that the investment made by Soros was put at US$40 million. The correct figure is $10 million.

Indonesians may return first

Indonesians may return first KUALA LUMPUR (AFP): Malaysia would give priority to workers from Indonesia if a ban on the recruitment of unskilled foreign labor is lifted, reports said yesterday.Deputy Home Minister Tajol Rosli Ghazali said illegal Indonesian workers who had been deported would be...

Two megaprojects finally included in revised plan

Two megaprojects finally included in revised plan JAKARTA (JP): Two widely publicized megaprojects -- the three- tier transit system and the Manggarai integrated terminal -- have finally been included in the revised 1997-2020 spatial plan, a city official said yesterday.

Sempati must be more realistic: Nainggolan

Sempati must be more realistic: Nainggolan JAKARTA (JP): Private airline PT Sempati Air has to be more realistic and logical to become a profitable company, the airline's outgoing president, Santun Nainggolan, said here yesterday.

Excess stock pushes down sales of Voksel

Excess stock pushes down sales of Voksel JAKARTA (JP): PT Voksel Electric Tbk, a publicly listed cable producer, said yesterday the fall in its sales in the first half of this year was caused by overhanging cable stocks in the market.

Broadcasting bill to be deliberated secretly

Broadcasting bill to be deliberated secretly JAKARTA (JP): The House of Representatives and the government agreed yesterday to delay deliberations on two of the five broadcasting bill articles to be amended in a closed meeting next week.

Unpaid cellular phone bills reach billions of rupiah

Unpaid cellular phone bills reach billions of rupiah JAKARTA (JP): The amount of unpaid bills to the country's cellular telephone operators have reached billions of rupiah and the trend is increasing, a telecommunications executive said yesterday.

BI issues new Rp 500 coin

BI issues new Rp 500 coin JAKARTA (JP): The central bank, Bank Indonesia, has issued a new Rp 500 coin to increase the use of coins as legal tender in the country.The central bank said yesterday the new coin issued Thursday would be an addition to the existing Rp 500 coin issued 1991.

Montegrappa launches new exclusive pen

Montegrappa launches new exclusive pen JAKARTA (JP): Italian pen-maker Montegrappa launched yesterday an exclusive pen called Aphrodite, with prices of up to Rp 28 million (US$10,000) each.Company chief executive officer Leopoldo Aquila said production of the exclusive pen was limited, comprising...

Get connected

Get connected The Jakarta Post should start building its website on the World Wide Web. I do not see any reason for delay.First, The Jakarta Post, like Kompas, belongs to the Gramedia Group. Kompas already has its own homepage, as do the other two English newspapers, The Indonesia Times and...

Rupiah rebounds, but shares nosedive

Rupiah rebounds, but shares nosedive JAKARTA (JP): The Jakarta Stock Exchange suffered another large intraday loss yesterday, while the rupiah recovered to 2,890 in late trading after touching a new record low of 3,070 against the U.S. dollar, dealers and brokers said.

Nearly blind Tubi sells 'cincau' drink to survive

Nearly blind Tubi sells 'cincau' drink to surviveBy Listiana Operananta JAKARTA (JP): Despite ever-stiffening competition from the mushrooming number of modern, branded, canned and bottled drinks, Tubi, a nearly blind man, continues his own minuscule traditional business selling cincau.

Goh says 'you can't fight market'

Goh says 'you can't fight market' TOKYO (Reuter): Singapore Prime Minister Goh Chok Tong said yesterday that despite recent turmoil, economic fundamentals in Asia, including Thailand, were sound.Goh did not point a finger at currency speculators for the turmoil and warned the region's central...

Islamic organizations play major role on political stage

Islamic organizations play major role on political stage YOGYAKARTA (JP): Indonesia's oldest and biggest student organization, the Association of Islamic Students (HMI), recently concluded its congress fending off criticism about its apparent cozying up to the power holders.

Where to go in Jakarta:

Where to go in Jakarta:Exhibitions * Painting Exhibition: Nuansa Decoratif by Sutopo, Djoko Maruto, Petrus Pranagung at Mon Decor Gallery, Jl. Gunung Sahari Raya No.1 Blok B 13-14, Central Jakarta, 9 a.m. to 8 p.m., until Sept. 14.

Satellite operator suffers US$3m loss

Satellite operator suffers US$3m loss JAKARTA (JP): Private satellite operator PT Pasifik Satelit Nusantara (PSN) suffered a US$3.04 million net loss in the first half of this year, up from $98,638 in the same period last year.

ABC to recommend eight shuttlers for SEA Games

ABC to recommend eight shuttlers for SEA Games JAKARTA (JP): The Asian Badminton Confederation (ABC) finally gave its recommendation to the Badminton Association of Indonesia to name eight shuttlers for the 19th SEA Games, which are to be held here in October.

Indonesians discouraged from speaking English in public

Indonesians discouraged from speaking English in public JAKARTA (JP): An English language expert lamented recently that the use of English was often shunned by the public who consider local English speakers arrogant.

El Nino may force Manila and Jakarta to import rice

El Nino may force Manila and Jakarta to import rice MANILA (Reuter): The El Nino drought sweeping through the Philippines and Indonesia may force both countries to import rice at a time when they are gearing up for presidential polls in 1998, dealers and analysts said on Friday.

A shopping paradise?

A shopping paradise? With the rupiah still unstable, this may not seem like the most appropriate time to talk about turning Jakarta into a shopping paradise to rival Singapore, London, Hong Kong and other long-famed shopper destinations in the world.

RP govt, rebels unite to expedite peace

RP govt, rebels unite to expedite peaceBy Oliver Teves CAMP PAULINO SANTOS, Philippines (AP): For 25 years, Mimonte Dadungan and his fellow Moslem rebels dreamed of overrunning the government's military camp here in the forests of Mindanao.

Uniform shoes not linked to GN-OTA

Uniform shoes not linked to GN-OTAFrom RepublikaReports in the media on the standardizing of shoes for students from elementary up to high school, referred to as "GN- OTA shoes", have prompted us to respond and explain the link with the GN-OTA institute.

Hyundai wins RI's order

Hyundai wins RI's order SEOUL (Reuter): South Korea's Hyundai Corp said yesterday it won an $85 million order to build four oil tankers for four Indonesian firms, including Silverstone Development Inc.A Hyundai statement said the tankers, including two 35,000 deadweight-ton (DWT) vessels, would be...

Kopaja bus drivers complain at council

Kopaja bus drivers complain at council JAKARTA (JP): All the Kopaja minibus drivers and their conductors plying the Lebak Bulus-Kota route went to the City Council yesterday demanding the banning of Steady Safe's regular buses that overlap their route.

Public seen not ready for debate on presidential term

Public seen not ready for debate on presidential term JAKARTA (JP): The discussion on whether Indonesia needs to limit the presidential term continued yesterday with political analysts airing conflicting views.

Cook expresses concern over rights situation in E. Timor

Cook expresses concern over rights situation in E. Timor JAKARTA (JP): Visiting British Foreign Secretary Robin Cook expressed concern yesterday over the current human rights situation in East Timor and indicated the possible cancellation of some arms sales from his country to Indonesia over the...

Ricky Putra gets US$30m syndicated loan

Ricky Putra gets US$30m syndicated loan JAKARTA (JP): Garment producer PT Ricky Putra Globalindo of the Ricky Group signed yesterday a US$30 million syndicated loan facility to refinance existing debts and strengthen its distribution division.

Singapore's Lee to be waxed

Singapore's Lee to be waxed SINGAPORE (DPA): A life-size wax likeness of Singapore's Senior Minister Lee Kuan Yew is set to be displayed in Madame Tussaud's famous wax museum in London, reports said yesterday.

Ringgit, rupiah and baht crash amid capital flight

Ringgit, rupiah and baht crash amid capital flight SINGAPORE (AFP): The Malaysian ringgit, the Thai baht and the Indonesian rupiah dived into uncharted depths yesterday while the usually-robust Singapore dollar fell to a 38-month low amid a capital flight from Southeast Asia, dealers said.

New Jakarta Ensemble crosses cultures

New Jakarta Ensemble crosses culturesBy Emilie Sueur JAKARTA (JP): Tony Prabowo seems to bristle when utterances of "new music" are used to describe his music.But there was no conventional categorization for his compositions performed Tuesday by the New Jakarta Ensemble at the Taman Ismail Marzuki...

Robin Cook tackles human rights

Robin Cook tackles human rights British Foreign Secretary Robin Cook arrived in Jakarta yesterday on his four-nation Southeast Asian tour, taking the first vital step toward dealing honorably with the British colonies which still span the globe.

Official parking fees may be raised by 30%

Official parking fees may be raised by 30% JAKARTA (JP): The administration is drafting a proposal to hike parking fees by around 30 percent to between Rp 500 (17 US cents) and Rp 1,000 per vehicle per hour. The official tariff is Rp 300.

Polysindo's profit up

Polysindo's profit up JAKARTA (JP): Publicly listed PT Polysindo Eka Perkasa posted a 59 percent increase in net profit to Rp 123.4 billion (US$46.56 million) in the first semester this year from Rp 77.3 billion in the same period last year.

Digital phones in West Jakarta

Digital phones in West Jakarta JAKARTA (JP): The West Jakarta office of state-owned telecommunications company PT Telkom is to start operating an automatic digital telephone exchange on Jl. Gatot Subroto tomorrow, an official said yesterday.

Ulemas will study from Turks

Ulemas will study from Turks SEMARANG: Seven ulemas and some officials from the Central Java provincial administration will fly next month to Turkey to study the development of Islam there, according to a member of the Indonesian Ulemas Council (MUI).

President Soeharto to get UNDP award

President Soeharto to get UNDP award JAKARTA (JP): President Soeharto will receive an award from the United Nations Development Program (UNDP) for his outstanding commitment to alleviating poverty in Indonesia, Foreign Minister Ali Alatas said yesterday.

Excellent hospital service

Excellent hospital service I am a fairly regular reader of your paper and have noted that your correspondence column usually consists of a series of complaints.As an elderly (67 years), recent expatriate who especially loves the people of this wonderful country, I would like to recount my recent...

Timikans hang high hopes for rights body

Timikans hang high hopes for rights body JAKARTA (JP): Residents of Timika in Irian Jaya urged the National Commission on Human Rights to come and probe the unrest that hit the town recently, a call which was promptly answered by the rights body.

See the century's full lunar eclipse Sept. 17

See the century's full lunar eclipse Sept. 17 JAKARTA (JP): Circle Sept. 17 on your calendar and set your alarm clocks for midnight because astronomers say that will be when the last full lunar eclipse of this century occurs."The earth will come between the sun and the moon at 1:16 a.m.

Govt grants tax holidays to six firms

Govt grants tax holidays to six firms JAKARTA (JP): The government will grant tax holidays to six out of 19 companies which applied for the facility, State Minister of Investment Sanyoto Sastrowardoyo said here yesterday.