Indonesian Political, Business & Finance News

Archive: 24 September 1997

53 articles found

QAF to weather turmoil

QAF to weather turmoil SINGAPORE (Reuter): QAF Ltd., controlled by Indonesia's Salim Group, said yesterday it does not expect the regional turmoil in financial markets to have a material impact on the group's business. The company makes Gardenia bread and operates a chain of Smart supermarkets.

Golkar unveils team lineup for MPR general session

Golkar unveils team lineup for MPR general session JAKARTA (JP): State Minister of National Development Planning Ginandjar Kartasasmita assisted by, among others, President Soeharto's daughter Siti Hardiyanti Rukmana, will head the dominant Golkar faction at the People's Consultative Assembly (MPR) general session in March. The lineup, officially announced by Golkar chairman Harmoko yesterday, put four cabinet ministers on the faction's executive board and another 11 on the advisory board.

Stock Exchange

Stock Exchange Stock prices on the Jakarta Stock Exchange (in rupiah) on Sept. 23, 1997: Shares Close Change Trading Volume ------------------------------------------------------ Ades Alfindo 1,000 -25 32,500 AHAP Insurance 2,500 0 0 Alter Abadi 725 -100 15,000 Alumindo Light Metal 775 0 113,000 Alumindo Perkasa 600 0 0 Aneka Kimia Raya 950 0 116,500 Anwar Sierad 1,125 100 896,000 Apac Centertex Corp.

Job termination clarification

Job termination clarification I refer to my letter 'Job termination' in the Sept. 22, 1997 issue of The Jakarta Post. There were some mistakes which will create totally misleading interpretations and which must be rectified. 1. The fourth paragraph reads "... by Australia's Gough Ltd..." when it should have read "... by Clough Limited of Australia...". 2. The fifth paragraph reads "... was calculated on a pro rata basis for foreign personnel... across the country." It should have read "...

Thieves steal ATM in Balikpapan

Thieves steal ATM in Balikpapan BALIKPAPAN, East Kalimantan: A one-ton Bank Bali automated teller machine (ATM) was carried off by thieves from the Balikpapan Permai shopping center early yesterday morning. The daring robbery has befuddled police officers. "This is the first time anything like this has ever happened," Balikpapan Police Chief Lt. Col. Pranowo said yesterday, adding that prior attempts were only directed toward getting cash out, not taking away the whole machine.

Timor car set to penetrate Malaysian mart

Timor car set to penetrate Malaysian mart JAKARTA (JP): PT Timor Putra Nasional signed an agreement with a Malaysian car distributor yesterday to sell its Timor cars in Malaysia, with both parties hopeful that they can compete against the highly popular and locally produced Proton Wira. Under the agreement with Triumph Rotary Sdn Bhd, Timor Putra will initially export 300 of its S515i sedans.

Thick haze claims first victims

Thick haze claims first victims JAKARTA (JP): Two people have died after suffering respiratory problems caused by haze, which has been choking dozens of towns in Sumatra and Kalimantan, an official said yesterday. Secretary of Coordinating Minister for People's Welfare Azwar Anas, Suyono Yahya, declined to give details on the victims or where they came from. The two deaths were the first officially recognized fatalities related to the haze menace.

Singapore to get GPS system

Singapore to get GPS system SINGAPORE (Reuter): Singapore, in its battle to avoid choking its highways like so many other Asian cities, said yesterday it would establish the world's largest traffic monitoring system and make it accessible to drivers. The Land Transport Authority (LTA) said the plan would harness a satellite-based Global Positioning System (GPS) now used by taxis as a booking system.

A tasty bone to pick at Bobby Rubino's

A tasty bone to pick at Bobby Rubino's Rib joints are not territory where Epicurus fears to tread. But there were two reasons for a little trepidation before a visit to Bobby Rubino's Place for Ribs on the ground floor of the S. Widjojo Centre on Jl. Sudirman, South Jakarta. For one, the last foray into a rib restaurant (no names but think Windy City) had been met with an irate letter from the proprietor.

Wimma fails in 1st round of Wismilak International

Wimma fails in 1st round of Wismilak International SURABAYA (JP): Mimma Chernovita of Indonesia was ousted in her bid to advance to the second round of the Wismilak International women's tennis tournament at the Embong Sawo tennis complex here yesterday. Mimma was defeated by Dally Randriantefy of Madagascar 1-6 3- 6. Mima, from Jakarta, advanced to the first round through her victory in the qualifying round. She is listed at 545th spot on the WTA ranking list.

RP oil imports down

RP oil imports down MANILA (AFP): Philippine oil imports fell 1.5 percent from a year earlier to 68.631 million barrels in the first half of 1997, the energy department said yesterday. Philippine refiners also exported 5.98 million barrels of products in the same period, up 42.3 percent from a year earlier. However, the net oil import bill, or the cost of imports minus exports, rose 3.7 percent to $1.275 billion due to the higher acquisition costs of crude.

Malaysian ringgit rise lifts Southeast Asian currencies

Malaysian ringgit rise lifts Southeast Asian currencies SINGAPORE (Reuter): Southeast Asian currencies regained some poise yesterday, led by a recovery in the Malaysian ringgit as players took profits on the dollar's sharp rise. But dealers said the worst was not over yet. The market largely brushed aside growing calls for increased cooperation between governments from senior finance officials at the annual World Bank/IMF meeting in Hong Kong, as nobody was offering specific plans, dealers said.

Why query IMF and World Bank pledge?

Why query IMF and World Bank pledge? The Jakarta Post on Sept. 22 reported the opinions of a noted economist, Kwik Kian Gie, and a veteran legislator, Theo Sambuaga, about the International Monetary Fund (IMF) and World Bank's (WB) pledge to fight corruption. Although we have to admit that Kwik is an expert in his field, I cannot agree that the pledge will become a laughing stock among elite political and business groups.

Governor Surjadi opens Tourism Mart and Expo

Governor Surjadi opens Tourism Mart and Expo JAKARTA (JP): About 50,000 people are expected to attend the fourth Tourism Indonesia Mart and Expo which opens here today. The four-day event is organized by Indonesia's Tourism Promotion Board (BPPI) and Jakarta's tourist agency and will be officially opened by Jakarta's Governor Surjadi Soedirdja tomorrow.

Cunning hits $100,000 mark on Omega Tour

Cunning hits $100,000 mark on Omega Tour JAKARTA (JP): American Mike Cunning is the first player this year to pass the US$100,000 mark on the Asian PGA's Omega Tour. The 39-year-old from Arizona did so after yet another solid performance on the Omega Tour put him into top spot on the Omega Order of Merit. Cunning finished joint third in the $500,000 Asia Pacific Ericsson Masters at Bintan Lagoon Golf and Beach Resort in Riau last weekend and won $28,000 to take his earnings in 1997 to $109,423.

Asia-Pacific stock marts close mixed

Asia-Pacific stock marts close mixed HONG KONG (AFP): Stock markets across the Asia-Pacific region closed mixed yesterday, with Kuala Lumpur seeing a technical rebound following instability in the wake of Prime Minister Mahathir Mohamad's harsh words over currency trading. The impact of Mahathir's declaration that forex trading was "immoral" and should be outlawed lessened although one dealer in Kuala Lumpur suggested the government's investment arm may have stepped in to support the market.

Golkar says all nominations for Soeharto

Golkar says all nominations for Soeharto JAKARTA (JP): The ruling political group Golkar has received numerous nominations for Indonesia's next president from various supporters. All had one name: the incumbent Soeharto. Golkar chairman Harmoko told reporters that many mass organizations and individual supporters had called on Golkar to nominate Soeharto for the 1998/2003 term. "A heap of letters demanding Pak Harto's reelection have filled up our cabinet.

RI needs to open oil market by 2000

RI needs to open oil market by 2000 SINGAPORE (Reuter): Indonesia must start to open its domestic oil product market by 2000, ahead of eventual market liberalization under the ASEAN Free Trade Area (AFTA) in 2003, former OPEC secretary general Subroto said yesterday. Indonesia has already carried out the first step by announcing incentives for the private sector to build refineries, he told reporters on the sidelines of the Asia Pacific Petroleum Conference (APPEC) in Singapore.

Mayor ordered to get tough with developers

Mayor ordered to get tough with developers JAKARTA (JP): Jakarta Governor Surjadi Soedirdja ordered North Jakarta Mayor Suprawito yesterday to get tough with developers who failed to deliver the required public and social facilities. "I call on the mayor to take stern action against developers who refuse to abide by the rules," Surjadi said when inaugurating luxury apartments in Sunter, North Jakarta.

Most motorists ignorant about unleaded gasoline

Most motorists ignorant about unleaded gasoline JAKARTA (JP): Almost two-thirds of respondents to an Indonesian Consumers Foundation survey revealed they know practically nothing about unleaded gasoline. The foundation's chairwoman, Tini Hadad, said yesterday that the survey, which involved 300 car drivers and 300 motorcycle riders across the city, was intended to gauge, among other things, people's awareness of the city's air pollution.

Author smears local children's books as 'command-like prose'

Author smears local children's books as 'command-like prose' JAKARTA (JP): Dutch children's book author Annie Keuper- Makkink has criticized the content of first-grade elementary school books here as being too strict with command-like prose without arousing children's desire to read. "Don't just fill their heads with facts," she told The Jakarta Post, adding that memorizing information would not encourage children to read.

IMF urged to take active role in currency crisis

IMF urged to take active role in currency crisis HONG KONG (JP): Indonesian Minister of Finance Mar'ie Muhammad warned yesterday that the currency crisis sweeping Southeast Asia could lead to an economic crisis. In a speech to the annual meetings of the World Bank and the International Monetary Fund (IMF) here, Mar'ie urged the fund to play an active role in preventing such crises.

Gas pipe leak causes fire

Gas pipe leak causes fire JAKARTA (JP): A fire caused by a leaking gas pipe opposite the GKBI building under Jl. Sudirman, South Jakarta, caused heavy traffic jams around the Semanggi junction yesterday as people slowed to watch. A employee of the state-owned Gas Company, Herman Usman, told The Jakarta Post his office had temporarily sealed the central gas pipe in the area to ensure the gas did not flare up. "We hope we can resume the service by tomorrow (today).

Some 1,300 shoemakers demonstrate at House

Some 1,300 shoemakers demonstrate at House JAKARTA (JP): More than 1,300 workers at two shoe factories in North Jakarta went on strike yesterday and demonstrated at the House of Representatives, demanding welfare improvements. The strikers, mostly female employees of PT Sindoll Pratama and its subsidiary PT Mega Beta Pertiwi, both located on Jl. Kapuk Muara, arrived at the House at about 9 a.m.

4,100 illiterate in S. Kalimantan

4,100 illiterate in S. Kalimantan BANJARMASIN, S. Kalimantan: There are still 4,100 people in five regencies here who are completely illiterate, an official said yesterday. The head of the local Ministry of Education office, Aspul Fansuri, told Antara that his agency would strive to cut the number to zero next year.

Singapore's rustic hideaway prepares for development

Singapore's rustic hideaway prepares for development By Jacqueline Wong SINGAPORE (Reuter): Pulau Ubin, an island off the northern coast of Singapore with just 600 inhabitants, is something of an alter ego to the modern, bustling city state. A short ride on one of the low-riding, sputtering diesel boats that ply between the island and the mainland transports visitors to one of the few remaining oases of peace in Singapore.

Where to go in Jakarta:

Where to go in Jakarta: Exhibitions * Design Exhibition: The Innovative Finnish Design exhibition at the National Museum, Jl. Medan Merdeka Barat 12, Central Jakarta, 9 a.m. to 5 p.m., until Sept. 30. * 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.

Angry mob burns city minivan

Angry mob burns city minivan TANGERANG (JP): Dozens of residents of Cipondoh district burned yesterday a city minivan allegedly driven by a 'migrant'. The action was in response to a clash Monday in which a local driver was killed. The angry mob stopped the car and forced its passengers to leave before setting it on fire. According to the locals, they were upset with migrants for hiding the man who allegedly stabbed the driver.

Haze in Malaysia's Sarawak reaches critical level

Haze in Malaysia's Sarawak reaches critical level KUCHING, Malaysia (Agencies): Smog choking Southeast Asia thickened dangerously in Malaysia's Borneo state of Sarawak yesterday, cutting visibility in the capital Kuching to an arm's length, officials and witnesses said. The Air Pollutant Index rose to 839 at 11 a.m. (10 a.m. Jakarta time). It read 781 at 3 a.m. Readings above 500 are considered extremely dangerous.

Marsinah case closure questioned

Marsinah case closure questioned JAKARTA (JP): Two lawyers questioned yesterday the police's decision to temporarily close their investigation into the 1993 murder of labor activist Marsinah. Trimoelja D. Soerjadi said the decision by police, after they failed to take a DNA test of a blood sample, showed a lack of transparency and could sow suspicion. The explanation was not satisfactory, Trimoelja said. "Police have a moral obligation to explain more," he added.

Anwar the 'voice of reason' in Malaysia

Anwar the 'voice of reason' in Malaysia By Reme Ahmad KUALA LUMPUR (Reuter): When Malaysian Prime Minister Mahathir Mohamad talks about the financial markets these days, investors look to his deputy, Anwar Ibrahim, for guidance. With Mahathir blaming foreigners for wrecking his country's economy and talking about banning currency trading, Deputy Prime Minister and Finance Minister Anwar Ibrahim has been seen as the voice of reason. "Anwar is in a tough position.

Provinces told to create buffer stocks of rice

Provinces told to create buffer stocks of rice JAKARTA (JP): The government has decided to set up emergency stocks of rice across the archipelago to help deal with a likely food shortage caused by the drought. The move follows the recent deaths of 251 villagers of cholera and starvation in Irian Jaya's drought-stricken regency of Jayawijaya.

List of postponed and reviewed projects

List of postponed and reviewed projects List of state owned enterprises' projects (SOE's) and government or SOE's related private projects to be reviewed (project Name; Agency): Geothermal Power Plant Bedugul (unit 1,2); Bali Energy Ltd. Renovation of BNI Office Building Jl.

Unocal to press ahead with RI plant

Unocal to press ahead with RI plant SINGAPORE (Reuter): Unocal Corp. said yesterday it would press ahead with pre-development work on its 1,000 megawatt (MW) Sarulla power project in Indonesia, which the government said would be delayed. "We plan to move along with it. As soon as the government is ready to go, we will move ahead," a Unocal spokeswoman said.

Spotlight

Spotlight Photo A: Toast The Regent MEXICAN MARK: Mexican Ambassador Sergio Ley-Lopez (left) and the ousted chairperson of the Indonesian Democratic Party, Megawati Soekarnoputri (right), toast the commemoration of Mexico's 187th national day. The reception was held at the Regent hotel in Jakarta last Tuesday.

East Kalimantan Methanol to operate later this year

East Kalimantan Methanol to operate later this year By Johannes Simbolon BONTANG, East Kalimantan (JP): The operation of Kaltim Methanol Industry's methanol manufacturing plant in Bontang, East Kalimantan later this year will cause an oversupply of methanol on the local market. But company president Abdul Wahab said yesterday the oversupply would not last long as the new plant could stimulate the development of other methanol-based industries in Indonesia like the acetic acid industry.

Aberson appeals defamation verdict

Aberson appeals defamation verdict JAKARTA (JP): Legislator Aberson Marle Sihaloho, who was convicted by a court in July for defaming President Soeharto, has formally lodged an appeal with the Jakarta High Court. His lawyer, Robert Keytimu, told The Jakarta Post yesterday that the appeal was submitted through the Central Jakarta District Court, which gave the guilty verdict.

Dozens injured in university brawl

Dozens injured in university brawl UJUNGPANDANG, South Sulawesi: At least 47 students had to be taken to a hospital after a brawl broke out between students at Hasanuddin University late Monday night. Witnesses said the fight took place mainly between students from the Technical and Sociopolitical faculties. The cause of the brawl remains sketchy, but a longstanding feud has been simmering since a big fight between students of the two faculties in September 1992. (37)

Aprisindo opposes Nike's labor charge

Aprisindo opposes Nike's labor charge JAKARTA (JP): Indonesian Footwear Manufacturers' Association (Aprisindo) contested yesterday U.S. shoe giant Nike Inc's reason behind the termination of contracts with its four Indonesian partners. Association chairman, Anton. J. Supit, said the decision to terminate Nike's contracts with the four Indonesian companies was made as part of the American shoe giant's budget revision.

Sukamdi leads Indonesia Open by two strokes

Sukamdi leads Indonesia Open by two strokes JAKARTA (JP): Indonesia's leading amateur golfer Sukamdi took an early lead yesterday in the Indonesian Amateur Open by one shot after the first round at Pondok Indah Golf & Country Club, by carding a 2-under par-70. Boosted by his triumph at the Singapore Amateur Open on Sept.

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: Road to Avonlea 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: Keringan dan Air Mata 8:30 Variety Show: Gelora...

CMNP to buy 25% stake in Marga Nurindo Bhakti

CMNP to buy 25% stake in Marga Nurindo Bhakti JAKARTA (JP): Publicly listed toll road operator PT Citra Marga Nusaphala Persada (CMNP) plans to take over PT Bhaskara Dunia Jaya's stake in PT Marga Nurindo Bhakti, another toll operator. CMNP's finance director Tito Sulistio said last week that the company was still discussing the deal with the two companies. "The management of CMNP are very interested in buying the stake...

Train kills two at crossing

Train kills two at crossing JAKARTA (JP): Two university students riding a motorcycle were crushed to death by a train at a level crossing in Palmerah subdistrict, Central Jakarta, yesterday evening. The man, who eyewitnesses said, was driving the bike recklessly, died on the spot after his body was split into several pieces. His severed head and legs were found several meters away from the abdomen. The woman, whose legs were particularly badly injured, died on the way to hospital.

AMRO wins more clients

AMRO wins more clients AMSTERDAM (Reuter): Dutch bank ABN AMRO NV said yesterday the recent currency turbulence in Asia had won it many new customers in Southeast Asia as local investors opted for the security of a big-name international bank. ABN AMRO executive board chairman Jan Kalff, in Hong Kong for the annual IMF meeting, told reporters that the Dutch bank had benefited from a "flight to quality".

Govt announces details of project cutback program

Govt announces details of project cutback program JAKARTA (JP): The government announced yesterday details of 156 government and state-related projects worth Rp 111.18 trillion (about US$38 billion) which it will either postpone or review as part of the retrenchment measure to cope with the rupiah's sharp depreciation. Minister/State Secretary Moerdiono said 81 of the projects were placed on hold and another 75 were under review.

Foreign investment cure for doldrums

Foreign investment cure for doldrums After the floating of the Indonesian rupiah last month, it depreciated by more than 15 percent. Now it is time for the government to attract foreign investment, especially in the real estate and property business. As a result of the rupiah's devaluation, the property business has been in the doldrums because industry workers, especially those in apartment sales, require payment in U.S. dollars. But the U.S.

SGS wins Vietnam license

SGS wins Vietnam license HANOI (AFP): Swiss international inspection giant Societe General de Surveillance S.A. (SGS) has received a license to begin operations in Vietnam a company official said yesterday. SGS will invest more than US$800,000 to open a Hanoi-based office offering inspection and verification of export goods ranging from shoes to rice to petroleum products, said a company official who declined to be identified.

SE Asia welcomes U.S. stance on new fund

SE Asia welcomes U.S. stance on new fund HONG KONG (AFP): Southeast Asian nations yesterday welcomed U.S. willingness to set aside earlier reservations and engage in a dialog on a proposed regional fund to deal with financial emergencies. Economists hailed the initiative to set up a standby support facility to complement the International Monetary Fund as a means of dealing quickly financial unrest.

Rp 2.2b project for Irian

Rp 2.2b project for Irian FAKFAK, Irian Jaya: A Rp 2.2 billion (US$745,000) coastal reclamation project to expand the Irian Jaya town of Fakfak will start this month, Antara reported yesterday. Head of the public works agency here, Sujarwo, said the project, scheduled to finish next March, would extend a two- kilometer stretch along the town's shore 125 meters further into the sea. But the project is not without its critics.

Students stow away on flight from Medan

Students stow away on flight from Medan JAKARTA (JP): Two high school students were found unconscious at Soekarno-Hatta International Airport yesterday after stowing away aboard a Garuda Indonesia aircraft from Medan, North Sumatra, police said. The two, identified as Iswadi Simatupang, 17, and Manto Manurung, 16, were found unconscious in the front wheel cavity of the A-300-B4 aircraft of flight GA 151. Iswadi also suffered fractured bones in his right hand and Manto burned one of his legs.

Rupiah and stock market prices gain ground

Rupiah and stock market prices gain ground JAKARTA (JP): The rupiah and stock prices gained ground yesterday in line with similar gains in some regional markets, dealers and brokers said yesterday. Currency dealers said the rupiah, which fell through the level of 3,000 against the U.S. dollar Monday, rebounded to test the resistance level. Spot rupiah rose to close at 2,995/2,999 yesterday, compared with an opening of 3,020/2,030 and Monday's close of 3,028/3,035.

Untimely talks on VP candidacy is unethical, Habibie says

Untimely talks on VP candidacy is unethical, Habibie says JAKARTA (JP): State Minister of Research and Technology B.J. Habibie skirted the question of his possible candidacy as vice president, saying yesterday it was unethical to talk about the top two state posts before the general meeting of the People's Consultative Assembly (MPR) in March.

Indonesia gets backing as G-77 chair

Indonesia gets backing as G-77 chair JAKARTA (JP): Indonesia looks set to become the next chair of the 132 member G-77 as the only other candidate, Iran, may step aside to support Indonesia's nomination. Foreign Minister Ali Alatas said in New York on Monday evening that support was growing for Indonesia to replace Tanzania. "We have always been active in the Group of 77," Alatas said after meeting his Iranian counterpart Kamal Kharrazi at the United Nations headquarters.