Indonesian Political, Business & Finance News

Archive: 18 September 1997

66 articles found

Relatives identify driver of ill-fated bus as Riyadi

Relatives identify driver of ill-fated bus as Riyadi JAKARTA (JP): The driver of the Jaya Bakti Super bus, which crashed Sunday, was identified by relatives yesterday as Riyadi Mulyono from Kendal, Central Java, and not Wardiman as previously announced. Arfan Andria, a mechanic from the Semarang-based bus operator, confirmed the identity of the 30-year-old driver as Riyadi, who had joined the company only a few weeks ago.

High cost at religious court

High cost at religious court From Republika I believed that a court procedure would finish in a short time and at low cost in accordance with the prevailing principle, but reality proves otherwise. Mental prowess, physical endurance, clear thinking, and in particular adequate funds, are essential to see a case processed in court.

Where to go in Jakarta:

Where to go in Jakarta: Exhibitions * Painting and Ceramics Exhibition, works of Firman, Tisna Sanjaya, Agus Suwage and Suyatna, at the Lontar Gallery. Jl. Utan Kayu 68 H East Jakarta, Monday to Saturday, 10 a.m. to 5 p.m., until Sept. 30. * Contemporary Art Exhibition: Axis, at the National Gallery, The Art Exhibition Building, Jl. Medan Merdeka Timur, Central Jakarta, 10 a.m. to 8:30 p.m., until Sept. 24. * Painting Exhibition: by Soegeng, at the Galeri TC, Jl. Kemang Raya No.

Where to go in Bandung:

Where to go in Bandung: Music and Entertainment * Holiday Inn, Jl. Ir. H. Juanda 33, Bandung: - Kebun Bambu Restaurant: Guitar performance, Saturday, 7:45 p.m. to 10:15 p.m. - Braga Bar and Lounge: Jazz live entertainment at 7:30 p.m. to 11:15 p.m., Duet Piano and Saxophone, every Tuesday and Thursday, Piano, Saxophone and Bass, Friday, Piano, Saxophone, Bass and Singer, Saturday. - Kutilang: Traditional musics, Kecapi and Suling, daily, 6:30 p.m. to 9:15 p.m.

Two police chiefs installed this month

Two police chiefs installed this month JAKARTA (JP): Two of the nine police precinct chiefs in Greater Jakarta will be replaced this month, City Police spokesman Lt. Col. E. Aritonang said yesterday. West Jakarta Police Chief Lt. Col. Bakat Poerwanto will be relieved by Lt. Col. Timur Pradopo, the head of the Research Unit at City Police Traffic. Bakat will be appointed secretary to the chief of Jakarta Police Detectives, replacing Lt. Col.

Poetry reading contest starts next month

Poetry reading contest starts next month JAKARTA (JP): A poetry reading workshop, Bengkel Deklamasi Jakarta, will hold Indonesia's fifth annual poetry recitation contest next month. The workshop is held in cooperation with HB Jassin Documentation Center and Taman Ismail Marzuki Art Center. Bengkel Deklamasi's Jose Rizal Manua, who chaired the organizing committee, said yesterday that the Oct. 20 to Oct. 31 competition was designed to celebrate Language Campaign Month and Youth Day.

Foul play in man's suicide

Foul play in man's suicide JAKARTA (JP): A former public minivan driver was found dead at his home on Tuesday, hanging from a rope attached to a door vent. Achmad Sofyan, 51, was found by his younger brother M. Hafizullah at the house on Jl. Olah Raga, in the Cililitan district, East Jakarta. A preliminary police report pointed to suicide as the cause of death but an official at the Cipto Mangunkusumo General Hospital, who conducted the autopsy, said yesterday that the victim had been murdered.

Court jails four Thais

Court jails four Thais BANJARMASIN, South Kalimantan: Four Thai fishermen were given jail time by the district court yesterday for fishing illegally, Antara reported. Prayong Koson, 24, and Kritsanook Sea Theng, 26, received four months and a Rp 3.5 million (US$1,200) fine each while Somkit Knongphet, 41, and Sook Chien Khrongphet, 30, received five months and a Rp 5 million fine each. They were found guilty of fishing in the Tanjung Puting waters without a license.

Bank Papan's picture card

Bank Papan's picture card JAKARTA (JP): Bank Papan launched yesterday Visa Picture card, the first of its kind in Asia. The card features any picture chosen by the cardholder on the front, the bank said in a statement. The bank said it would lower the interest rate of cardholders who transfer their credit card account to Bank Papan Visa. (das)

Retrenchment plan will not affect CMNP toll road project

Retrenchment plan will not affect CMNP toll road project JAKARTA (JP): Publicly listed toll road operator PT Citra Marga Nusaphala Persada (CMNP) said yesterday the government's retrenchment of the country's toll road development would not affect its projects. Finance Director Tito Sulistio said the company's toll road projects would continue despite the government's cutback measures.

Bambang reelected YLBHI chief

Bambang reelected YLBHI chief JAKARTA (JP): In a close split decision, the board of trustees of the Foundation of the Indonesian Legal Aid Institute (YLBHI) elected yesterday evening Bambang Widjojanto for a second term as the foundation's executive board chairman. Bambang won by a slim majority of six votes to five over his rival Achmad Fauzan. The board of trustees is comprised of 16 people, but only 11 attended yesterday's meeting.

Vice presidency open to active officers: Rudini

Vice presidency open to active officers: Rudini JAKARTA (JP): A senior political and military analyst says active members of the Armed Forces (ABRI), for the first time, may join next year's vice presidential race. "There's no article in our constitution which prohibits active ABRI members from joining the vice presidential race," said former minister of home affairs Rudini. "The 1945 Constitution does not differentiate between male or female candidates either," he added.

Holidays and SEA Games

Holidays and SEA Games From Republika I am a high school student in Bandung and need to know the truth of the rumor that the holidays of the current semester will take place before the exams. We are thus forced to enjoy leisurely days before the exams. My teachers have no explanation on the matter. The rumor is that the holidays have been rescheduled because certain sides hope that students will watch the Southeast Asian Games.

32 companies withdraw COW applications

32 companies withdraw COW applications JAKARTA (JP): Thirty-two mining companies have withdrawn their applications for the seventh generation contracts of work which are being deliberated at the House of Representatives, an official said.

Malaysian cops nab 3 Nigerians

Malaysian cops nab 3 Nigerians KUALA LUMPUR (DPA): Malaysian police have arrested three Nigerians suspected of being members of an international syndicate running a kickback scam which swindled several businessmen, reports said yesterday. The two men and a woman, said to be in their 30s, had entered Malaysia on student visas. They were nabbed in Kuala Lumpur and on Langkawi Island last week after complaints by their alleged victims, the New Straits Times said.

High telephone tariffs 'may hamper RI's IT'

High telephone tariffs 'may hamper RI's IT' SAN FRANCISCO (JP): High telephone tariffs in Indonesia may hamper the development of the country's information technology, according to a senior telecommunications executive. Adi R. Adiwoso, one of the country's telecommunications experts and magnates, said here Tuesday that the tariffs of telecommunications in Indonesia should be lowered to increase number of calls. "Telecommunications is a volume game.

Bali festive for Galungan

Bali festive for Galungan DENPASAR, Bali: Denpasar and most other towns and villages in predominantly Hindu Bali turned festive yesterday as people marked Galungan, the day of victory of good over evil. Decorated bamboo lined most streets and in front of people's houses. Balinese of all ages, donning traditional Balinese costumes, visited temples and other holy places to pray and bring offerings, Antara reported. On the eve of Galungan, people slaughter pigs for offerings.

The Ujungpandang riots

The Ujungpandang riots One might have thought, or hoped, that in the 52 years that Indonesia has existed as an independent nation, this country would at least have come close to reaching its ideal of becoming a single unified nation, undivided by race, ethnicity or religion -- an ideal that was publicly and explicitly promulgated in the early years of our independence by our first vice president Mohammad Hatta.

Four Seasons ranked 5th

Four Seasons ranked 5th JAKARTA (JP): The latest poll by the monthly newsletter Andrew Harper's Hideaway Report has ranked the Four Seasons Resort Bali at Jimbaran Bay fifth in the world's international resort hotels category. Four Seasons Resort said yesterday that a poll by the same organization earlier ranked the hotel seventh in the same category. More than 2,500 readers of the newsletter, mostly the world's top executives, responded to the poll, the hotel said.

Save our forests

Save our forests For three days starting yesterday (Tuesday), the environmental ministers of ASEAN will be meeting in Jakarta to discuss matters in this region. Ironically, even as they are meeting huge forest fires are raging in Sulawesi, Kalimantan and Sumatra. It is highly probable that this problem will be one of the main subjects of discussion. The sad thing about all this is that the probability of fires ravaging our forests had been anticipated long before they became reality.

Lonsum gets $213m loan

Lonsum gets $213m loan JAKARTA (JP): Publicly listed PT Pan London Sumatra Plantation (Pan Lonsum) has secured a $213 million syndicated loan from 29 banks from 10 countries. The company said yesterday the loan agreement was signed in Phuket, Thailand on Sept. 12. The loan will be used to finance the development of 67,000 hectares of palm oil estates in South Sumatra, Central Kalimantan and East Kalimantan.

Highwayman shot dead in S. Jakarta

Highwayman shot dead in S. Jakarta JAKARTA (JP): Police shot dead an alleged highwayman in Petukangan Selatan, South Jakarta, yesterday after he robbed a female motorist. A senior officer at the Kebayoran Lama police subprecinct said the suspect, Andi Afriadi, 23, was shot after he tried to stop detectives from arresting him. The officer, who refused to be named, said that Andi had allegedly robbed housewife Ellywati Jaya on Jl. Palem VIII as she drove home yesterday morning.

Southeast Asian free trade project 'in danger'

Southeast Asian free trade project 'in danger' TOKYO (AFP): Southeast Asia's currency crisis may force the region to reconsider an ambitious free trade project as gaps between its economies widen over the next few years, analysts said. The crisis, triggered by Thailand's de-facto devaluation of the baht on July 2, will be scrutinized during the annual meetings of the World Bank and the International Monetary Fund (IMF) in Hong Kong.

Japan firms seen buying Natuna gas stake

Japan firms seen buying Natuna gas stake TOKYO (Reuter): A Japanese consortium is expected to agree by as early as the end of this year to buy a stake in the huge Natuna gas project in the South China Sea from Indonesia's state oil firm, Pertamina, traders familiar with the deal said yesterday.

Ujungpandang under control

Ujungpandang under control UJUNGPANDANG, South Sulawesi (JP): Security authorities were in control over this riot-torn city although the situation remained tense with sporadic disruptions yesterday following Monday night's outbreak of violence. Thousands of troops and police were seen standing on alert along the streets throughout the day. Business centers and schools remained closed as shock and fear overwhelmed most parts of the city.

30 skyscrapers lack green standards

30 skyscrapers lack green standards JAKARTA (JP): About 30 of Jakarta's 300 high rise buildings were never the subject of an environmental impact study, an official disclosed yesterday. These studies ensure that buildings are environmentally friendly, the head of the city's environment bureau, Aboejoewono Aboeprajitno, said in a seminar on environmental management at Sahid Jaya Hotel.

Air excercise scaled down

Air excercise scaled down PEKANBARU, Riau: The Malaysian Royal Air Force has withdrawn eight Hawk fighter planes which were originally scheduled to take part in ongoing joint air exercises with its Indonesian counterpart, Antara reported. The thick haze covering Pekanbaru was cited as the reason behind the decision.

Postponed toll roads projects

Postponed toll roads projects Projects Investment (billion rupiah) 1. Pejagan - Pemalang 742.8 2. Pemalang - Batang 484.2 3. Semarang - Solo 1,297.6 4. Surabaya - Madura 597 5. Gersik - Tuban n.a 6. Aloha waru - Tanjung Perak 1,820.0 7. Solo - Mantingan 540 8. Mantingan - Ngawi 468.6 9. Ngawi - Caruban 465 10. Caruban - Kertosono 722.6 11. Kertosono - Mojokerto 595.7 12. Pasuruan - Probolinggo 466.o 13. Bojonegoro - Labuan n.a 14. Outer Ring Road - East Surabaya 475.0 15.

'Man cannot live by idealism alone'

'Man cannot live by idealism alone' By Ida Indawati Khouw JAKARTA (JP): Lawyer Luhut M.P. Pangaribuan thought that 16 years was enough time to "devote" his life to serving the poor and needy through legal aid work, and that now was the time to think about his financial life. "Now is the time to think about me. If I don't, who'll think about me? No one will," said the human rights campaigner who is also a father of three.

City military gets new chief of staff

City military gets new chief of staff JAKARTA (JP): Jakarta Military Commander Maj. Gen. Sutiyoso installed yesterday Brig. Gen. Sudi Silalahi as the new chief of staff at the Military Command, replacing Brig. Gen. Sjafrie Sjamsoeddin. Sudi, 44, a 1972 graduate of the Armed Forces Academy, was a former deputy assistant to the Armed Forces chief of sociopolitical affairs.

Forestry firms receive ultimatum for burning land

Forestry firms receive ultimatum for burning land JAKARTA (JP): Minister of Forestry Djamaludin Suryohadikusumo has given 125 firms a 15-day ultimatum to stop slash-and-burn practices or have their licenses revoked, a senior ministry official said yesterday. Director General of Forest Protection and Nature Preservation, Soemarsono, said the 125 firms were an addition to 50 firms which the minister had already announced Monday.

Fire guts freighter

Fire guts freighter BANDAR LAMPUNG: A freighter carrying fertilizer was gutted by fire at Panjang port late on Tuesday, Antara reported yesterday. All crew members of the MV Columbia survived the fire, but the captain, identified as Nenok, suffered minor injuries after falling down while trying to save some documents. Port authorities towed the 424-deadweight-ton vessel two miles offshore to prevent the fire from spreading to other ships.

United Tractors to raise $83.27m from rights issue

United Tractors to raise $83.27m from rights issue JAKARTA (JP): Publicly listed PT United Tractors, a major heavy equipment distributor in the country said yesterday that it expected to raise about Rp 241.5 billion (US$83.27 million) from its rights issue later this year. ING Barings, the company's financial advisor, said yesterday United Tractors would seek approval from its shareholders for the planned rights issue at an extraordinary shareholders meeting on Oct. 31.

Further reforms needed to ensure certainty

Further reforms needed to ensure certainty JAKARTA (JP): Economists and businesspeople hailed yesterday the government's decision to slash spending and delay major projects in a bid to convince foreign investors about its seriousness in dealing with currency and stock market upheavals. But they said the government should continue to send other positive signals to the market by further reforms and actions to regain investors confidence in Indonesia.

Investors hail RI spending cuts

Investors hail RI spending cuts LONDON (Reuter): Foreign investors welcome big spending cuts by Indonesia but remain wary of the stock market on fears of weak earnings growth and riots in the east of the country. "It's good news. But it's too early to talk of a return (to Indonesian stocks)," Ashok Shah, fund manager at Old Mutual Fund Managers in London, said Tuesday.

Pasar Minggu market drug dealer arrested

Pasar Minggu market drug dealer arrested JAKARTA (JP): A coffee trader turned drug dealer has been arrested at the Pasar Minggu market in South Jakarta for illegally possessing 21,400 Nipam barbiturate pills, 3,050 BK tranquilizer pills and an ounce of marijuana. The man, identified as Muhamadi -- alias Madi -- 28, was arrested during a police raid Tuesday afternoon.

Modest Yogyakarta artist lets his works do the talking

Modest Yogyakarta artist lets his works do the talking By Ati Nurbaiti JAKARTA (JP): Shouts and hugs accompanied the announcement of Yuswantoro Adi as the first Indonesian grand prize winner in the Philip Morris ASEAN Art Awards 1997 in Manila last week. Back at the Jakarta office of the Indonesian Fine Arts Foundation (YSRI) -- an organizer of the event -- a staff member wrapped her scarf around Indonesian jury member Amir Siddharta as a makeshift celebratory garland.

Japanese alumni to meet in Jakarta

Japanese alumni to meet in Jakarta JAKARTA (JP): A kokoro-to-kokoro (heart-to-heart) meeting of Southeast Asian graduates of Japanese universities begins here today. The three-day conference of the ASEAN Council of Japan Alumni (ASCOJA) at Sahid Jaya Hotel is expected to attract some 150 graduates, including many who now hold senior government positions in their countries. Vice President Try Sutrisno is scheduled to address the forum tomorrow.

IMF denies being slow in helping ASEAN

IMF denies being slow in helping ASEAN JAKARTA (JP): The International Monetary Fund (IMF) denied President Soeharto's criticism yesterday that it was slow in assisting Association of Southeast Asian Nations (ASEAN) members deal with the region's currency upheaval. IMF first deputy managing director Stanley Fischer said IMF would provide financial assistance if there was an official requirement. "I think it is simply not correct...

S&P gives Pindo Deli Finance BB-rating

S&P gives Pindo Deli Finance BB-rating JAKARTA (JP): Standard & Poor rating agency yesterday assigned the US$400 million guaranteed senior notes of Pindo Deli Finance Mauritus a BB- (minus) rating. Pindo Deli Finance Mauritus' senior notes will be issued in two tranches due 2002 and 2007 by parent PT Pindo Deli Pulp and Paper Mills. S&P also gave its "BB" corporate credit rating to Pindo Deli, the second-largest subsidiary in the Asia Pulp & Paper Co. Ltd. (APP) group.

Senior citizens

Senior citizens From Merdeka Though late, it is not wrong, I presume, for me to support the statement made by the Jakarta governor regarding senior citizens as published in Kompas daily (July 5) under the title of I appreciate and respect senior citizens. The governor must have had a strong reason and a fitting background when making the statement.

Rupiah and stock prices continue to drop

Rupiah and stock prices continue to drop JAKARTA (JP): The rupiah and stock prices continued to drop yesterday following rioting in Ujungpandang, South Sulawesi and ongoing regional weaknesses, dealers and brokers said. Despite positive signals sent by the government Tuesday, the fate of the currency and stock markets were still largely dependent on regional trends, they said. Sentiments were still in favor of the U.S. dollar, with local and foreign players keeping their dollar holding.

Indonesia power plant delay expected, says Unacol

Indonesia power plant delay expected, says Unacol SINGAPORE (Reuter): Unocal Corp. said yesterday Indonesia's decision to postpone its power plant project in northern Sumatra was not unexpected and it understands that the government needed to do so to stabilize the economy. "This is not altogether a surprise to us, it's not unexpected," Carol Scott, Unocal's spokeswoman told Reuters in Singapore. "Our project is just one of a number (that is postponed).

TV today

TV today TVRI 2:00 p.m. News: Berita 14 2:30 Travel: My Country 2:35 Children's Film: Family Matters 3:10 Science Film: Animal Odyssey 3:35 Religious Teachings: Islam 4:00 Regional News 4:30 Culture Program: Pelangi Budaya 5:00 Arabic Lessons 5:30 Music Lessons: Acoustic Guitar 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 Variety Show: Cakrawala Budaya 8:00 News: Lintasan Berita 8:05 Comedy Show: Humoria...

Dollar extends assault on SE Asian currencies

Dollar extends assault on SE Asian currencies SINGAPORE (Reuter): The dollar continued its assault on most Southeast Asian currencies yesterday as concerns over Thailand refused to fade, but was showing a more mellow face late in the Asian day, dealers said. "You can see some of the regionals pulling back up after Europe came in," said a dealer in Singapore. The Indonesian rupiah and the Singapore dollar pulled back some losses, but the Thai baht and the Malaysian ringgit fell further.

ASEAN's property markets unsteady

ASEAN's property markets unsteady SINGAPORE (AFP): Southeast Asia's largely overheated property markets, a key source of the present financial turmoil in the region, have not bottomed out yet with banks expected to push their borrowers into selling, analysts said yesterday.

Regent denies famine

Regent denies famine PALEMBANG, South Sumatra: The Musi Banyuasin regency administration denied yesterday that there was a famine following rice harvest failure in the area. In a letter sent to the South Sumatra provincial administration's public relations office, Nazom confirmed reports that some people in Cinta Manis village had been eating tubers instead of rice, Antara reported.

Employers told to treat workers better

Employers told to treat workers better JAKARTA (JP): Governor Surjadi Soedirdja urged city employers yesterday to treat their workers better by providing safer facilities and creating a more democratic environment in the workplace. Quoting the findings of a city administration and University of Indonesia's joint research project, City Workers' Problems, Surjadi said there were six factors that could lead to conflicts between employers and workers.

Ramos warns protests may harm economy

Ramos warns protests may harm economy MANILA (AFP): The Philippine economy, already hard-hit by the peso's fall, could suffer even more if the Roman Catholic Church goes ahead with a protest rally Sunday, President Fidel Ramos warned yesterday. "There is no reason for us to keep battering our economic stability and capability and credibility," Ramos said in Prague, the third stop of a four-nation tour. A transcript of his remarks was released by the presidential palace here.

SEA Games venues ready, satisfied organizers say

SEA Games venues ready, satisfied organizers say JAKARTA (JP): The 19th SEA Games organizers are satisfied with preparations being made at sports venues outside Senayan sports complex. Organizing committee competition deputy M. Hindarto said the venues, which are being renovated by the Jakarta administration, were nearly ready and the only remaining problems were with air conditioning.

435 blood donors awarded gold pins

435 blood donors awarded gold pins JAKARTA (JP): Over 400 blood donors were received by President Soeharto yesterday in recognition of their 75-plus blood donations to the Indonesian Red Cross (PMI) Later at a separate ceremony, the 435 donors were also awarded gold pins by chairperson of PMI and Soeharto's daughter, Siti Hardiyanti Rukmana.

Cloud blocks lunar eclipse, thwarts photographers

Cloud blocks lunar eclipse, thwarts photographers JAKARTA (JP): Moon watchers and photographers were mostly frustrated in their efforts to view the century's last total lunar eclipse yesterday when heavy cloud blocked the sky over most of the city in the wee hours of the morning. Some lucky snappers armed with zoom lenses at the Ancol Dreamland complex in North Jakarta got a few shots of the eclipse, which was the result of the earth being positioned between the sun and the moon.

McRae's car hits enbankment as heavy rain mars test drive

McRae's car hits enbankment as heavy rain mars test drive MEDAN, North Sumatra (JP): Despite heavy rain here the Mitsubishi, Subaru, Toyota, Ford and Seat Sport teams set out to test the route of the Gudang Garam World Rally Championship due to start tomorrow. Colin McRae/Nicky Grist, who drive under the 555 Subaru World Rally Team banner, had engine trouble after their car hit an embankment during the official test drive in the plantations of Batulokong, Deli Serdang.

Hatta library

Hatta library The Hatta library at the Gadjah Mada University campus in Bulak Sumur, Yogyakarta, was named after RI's first vice president Mohammad Hatta. It has a collection of some 40,000 books, including many old and rare books on social and political science. It was the late Margono Djojohadikusumo who founded the library in 1950 when he was managing director of BNI 1946, one of the state banks. The funding of 30,000 guilders came from the bank.

Haze won't stop Mild Seven golf tournament

Haze won't stop Mild Seven golf tournament KUALA LUMPUR (Agencies): Organizers of the Mild Seven Kuala Lumpur Open have said that despite the haze, the tournament will go ahead at Saujana Golf and Country Club. Ramlan Harun, Executive Director of Asian PGA, said measures would be taken to ensure that the event, the 11th leg of the 1997 Omega Tour, went ahead smoothly. "If the haze gets worse, players may be advised to use face masks.

Drivers strike in Tangerang

Drivers strike in Tangerang TANGERANG (JP): More than 400 drivers of public transportation vans went on strike yesterday, leaving thousands of passengers stranded. The drivers of R-11 vans plying the Perumnas-Cikokol route even forced passengers onboard R-14 vans, which they said followed a similar route, to get off. Due to the heated circumstances, some R-14 drivers decided to stop operating too because they felt unsafe and under pressure.

Unocal finds Indonesian oil

Unocal finds Indonesian oil EL SEGUNDO, Calif., (Reuter): Unocal Corp announced Monday that one of its exploratory wells offshore Indonesia hit significant amounts of natural gas and oil. The well, drilled in deep waters of the Makassar Straight, tested at a rate of 24.8 million cubic feet of gas and 860 barrels of condensate per day. The discovery earns Unocal a 50-percent working interest in the Strait, which is part of a larger Unocal exploration program in Indonesia.

Cautions for 76 companies

Cautions for 76 companies TANGERANG (JP): Owners of at least 76 industrial companies here have been warned to stop dumping their unprocessed waste or have their licenses revoked and stand trial in court. Tangerang Environment Office head M. Harun said Tuesday that letters conveying the administration's strong warnings were delivered recently to company owners. The letters also ordered the companies to build water treatment plants which could help purify the waste.

Stock Exchange

Stock Exchange Stock prices on the Jakarta Stock Exchange (in rupiah) on Sept. 17, 1997: Shares Close Change Trading Volume -------------------------------------------------------- Ades Alfindo 1,050 -25 41,500 AHAP Insurance 2,500 0 0 Alter Abadi 800 -50 5,000 Alumindo Light Metal 800 0 286,000 Alumindo Perkasa 600 0 0 Aneka Kimia Raya 950 -25 31,500 Anwar Sierad 925 0 6,500 Apac Centertex Corp.

IMF hopeful of good world growth

IMF hopeful of good world growth HONG KONG (Reuter): The International Monetary Fund kicked off its annual meetings with an upbeat assessment of the global economy yesterday, predicting several more years of low-inflation growth. But IMF experts admitted that problems in Thailand and elsewhere in southeast Asia were clouding an otherwise bright economic picture. The United States might have to raise interest rates to cool down its simmering economy.

SE Asian finance chiefs to explore common strategy

SE Asian finance chiefs to explore common strategy BANGKOK (AFP): Southeast Asian finance ministers will attempt here to forge a united front ahead of the global monetary talks in Hong Kong, officials said, as the region reels from an unprecedented financial crisis. Ministers from the region are to meet Thursday on the sidelines of an Asia-Europe conclave hosted by Bangkok, before flying to Hong Kong at the weekend for the International Monetary Fund (IMF)-World Bank annual talks.

Harmoko praises outgoing Golkar legislators

Harmoko praises outgoing Golkar legislators JAKARTA (JP): Golkar chairman Harmoko praised the political organization's legislators in the House of Representatives for doing their best during their five-year term which will expire on Sept. 30. Harmoko said after attending a farewell gathering for outgoing Golkar legislators that they had exercised their full function to channel public aspirations. "As a team, they've served Golkar's executive board... very well," Harmoko said.

Obituary

Obituary Former minister of public works Poernomosidi Hadjisarosa died yesterday at Cipto Mangunkusumo General Hospital. He was 63. It was believed that he had been suffering from leukemia, Antara reported. Poernomosidi was buried at Tanah Kusir public cemetery, South Jakarta, in a state ceremony led by Minister of Public Works Radinal Moochtar.

Forest burners have to prove innocence

Forest burners have to prove innocence JAKARTA (JP): State Minister of Environment Sarwono Kusumaatmadja warned yesterday that owners of plantation and timber companies alleged by the government of causing widespread fires in Sumatra and Kalimantan have until Oct. 1 to prove themselves innocent. Speaking during a break of the ASEAN Ministerial Meeting on the Environment (AMME) here, Sarwono said the government would revoke their business licenses if they failed to provide sufficient evidence.

Minister laments increase in traffic fatalities

Minister laments increase in traffic fatalities JAKARTA (JP): Minister of Transportation Haryanto Dhanutirto commemorated yesterday National Transportation Day lamenting the increasing number of traffic fatalities despite the drop in overall accidents. He pointed out that in 1985 there were 42,082 accidents causing 10,283 deaths. This number of accidents has continually dropped with 25,741 in 1990, 16,510 in 1995, and 7,367 in the first five months of this year.

Langgeng pays dividend

Langgeng pays dividend SURABAYA (JP): Shareholders of the publicly listed PT Langgeng Makmur Industri have approved a proposal to issue 26.43 million new shares as dividend. PT Langgeng, plastic and aluminum household furniture producer, said yesterday existing shareholders would receive 14 new shares as dividend for every 100 old shares they hold. The new shares will be issued by converting part of the company's retained earnings into capital.