Indonesian Political, Business & Finance News

Archive: 27 September 1997

57 articles found

Number of jobless college graduate rising: Wardiman

Number of jobless college graduate rising: Wardiman JAKARTA (JP): More and more college graduates in Indonesia are becoming unemployed despite a growing demand for skilled workers in the job market, Minister of Education and Culture Wardiman Djojonegoro said yesterday. Unemployed university graduates accounted for 13.51 percent of 3.23 million registered job seekers in 1995, Wardiman said in a seminar discussing unemployment among intellectuals.

ABRI vehicles netted in operation

ABRI vehicles netted in operation JAKARTA (JP): Four cars and two motorcycles bearing Armed Forces (ABRI) number plates have been caught in a City Military Police law and order operation. Jakarta Military Command Spokesman Lt. Col. DJ. Nachrowi said the vehicles were netted Thursday for violating traffic regulations and not being equipped with the necessary documents.

Public services under scrutiny

Public services under scrutiny JAKARTA (JP): Abdul Kahfi, the new deputy governor for administrative affairs, said yesterday that he was in the process of evaluating procedures regarding the provision of public services by city officials. The evaluation was part of his pledge to cut unnecessary red tape and waste in the administration, he said.

Kelian gets safety rating

Kelian gets safety rating JAKARTA (JP): The National Occupational Safety Association (NOSA) of Australia has assigned a three-star safety rating to PT Kelian Equatorial Mining, a member of Rio Tinto group in Kutai, East Kalimantan. NOSA manager Neil Wilson said yesterday that the company was awarded a three-star safety rating -- one-star higher than last year -- because it had achieved a final report rating of 64 percent with a 12-month Disabling Injury Frequency Rate of 1.1 percent.

Observers suggest presidential term limitation

Observers suggest presidential term limitation JAKARTA (JP): Members of the People's Consultative Assembly (MPR) should issue a decree that would limit the presidential tenure to only two terms when they convene in March, observers recommended at a seminar yesterday. Political observer Johanes Kristiadi and constitutional law expert Harun Alrasyid agreed that restrictions were needed to prevent a president from exercising his or her power beyond control.

More flyovers to be completed

More flyovers to be completed JAKARTA (JP): Two more flyovers are expected to be completed next month, Governor Surjadi Soedirdja said. The projects, which are part of the city's 1992-1997 plan, are badly needed to help ease the city's severe traffic congestion. "I expect both projects to be completed next month," the outgoing governor said. The two projects are part of the 25 flyovers planned for the 1992-1997 term, he said. The last of the other 23 were completed in the last couple of months.

Foreign loan problems to haunts Malaysia

Foreign loan problems to haunts Malaysia KUALA LUMPUR (AFP): Malaysia may face problems raising loans as its troubled economy is hit by a downgrade in its long term credit ratings outlook, analysts warned yesterday. Global credit rating agency Standard and Poor's (S and P) decision Thursday to slash Malaysia's long-term foreign currency ratings outlook for the second time in six weeks renewed concerns about the country's economic bill of health, they said.

Up to 3 die on city's roads daily

Up to 3 die on city's roads daily JAKARTA (JP): The capital's traffic police chief said yesterday that so far this year between two and three people had died every day in traffic accidents in Greater Jakarta. Col. Fachrudin Bakar said so far this month 35 people had died in traffic accidents. "The number of traffic accident fatalities was 166 in August, up from 155 in July. Most of the accidents were caused by speeding and reckless driving," Fachrudin said.

Many tourist resources still unexplored

Many tourist resources still unexplored JAKARTA (JP): Indonesia has not fully explored its resources in developing the country's tourist industry, an international economist says. The founder and director of the Zero Emission Research Initiative (Zeri Foundation), Gunter Pauli, said Thursday most of Indonesia's resources remained unexplored.

Haze adds to RI's tourist industry woes

Haze adds to RI's tourist industry woes JAKARTA (JP): The haze problem poses another blow to the country's tourism industry, a senior official of the Ministry of Tourism, Post and Telecommunications said here yesterday. Tourism Director General Andi Mappi Sammeng said the growth of foreign tourist arrivals, which dropped significantly during the political campaign, a month before May's general election, would plunge further due to the thick smog.

Feisal happy with ABRI's riot response

Feisal happy with ABRI's riot response UJUNGPANDANG (JP): Minister of Home Affairs Moch. Yogie S.M. and Armed Forces (ABRI) Chief Gen. Feisal Tanjung defended yesterday security members' tough approach in handling ethnically colored riots in the city last week. Speaking before local government officials and public religious figures, Yogie said such an approach was meant to uphold regulations.

Government policies open to correction: Soeharto

Government policies open to correction: Soeharto JAKARTA (JP): President Soeharto said yesterday government policies were open to correction but improvement efforts could only be conducted gradually. Soeharto said in a farewell party for House of Representatives legislators that the nation was in the process of obtaining an enriching experience on how to manage such a big and complex country, and it was likely that the government might adopt some incorrect policies.

14 firms suspected violating govt ban on land clearing

14 firms suspected violating govt ban on land clearing JAKARTA (JP): The government accused yesterday 14 plantation companies of violating a recent ban and continuing with land clearing activities that have caused forest fires. A report from the Directorate General of Plantations at the Ministry of Agriculture said the 14 were among 76 companies that had complied with the government's order to file an account of their land clearing activities. Dated Sept.

Cattle die of starvation

Cattle die of starvation KUPANG, East Nusa Tenggara: More than 20 head of cattle have died of starvation in Belu regency bordering East Timor, Antara said yesterday. Deputy Governor Piet Alexander Tallo could not confirm the report but promised to look into it, the news agency said. A farmer, who lost nine head of cattle, said his stock of animal feed had dried up because of the drought. He said in the past he had lost one or two heads of cattle during the dry season.

Indorayon president among victims

Indorayon president among victims JAKARTA (JP): Businessman Polar Yanto Tanoto, who just a day earlier had received an award from President Soeharto, is one of the tragic stories in yesterday's crash which claimed 234 lives including two children and several foreigners. As president of PT Inti Indorayon Utama, Polar represented one of the 66 companies rewarded by Soeharto for its outstanding achievements in non-oil exports.

Lambert ups Mashill stake

Lambert ups Mashill stake JAKARTA (JP): Belgium's Bank Brussels Lambert SA has bought another 3.20 million shares of publicly listed Bank Mashill Utama to increase its stake in the Indonesian bank. Bank Mashill's president A.T Windoe said yesterday that with the new purchase, the Belgium bank raised its Mashill shares to 40.19 million shares or 10.8 percent of total shares.

Taiwan firms eye Medan

Taiwan firms eye Medan JAKARTA (JP): At least 15 Taiwanese companies plan to invest in the property sector in North Sumatra by the end of the year, Antara reported yesterday. President of Taiwan's Honban Investment and Development, Lin Hui, told the news agency after his meeting with the province's governor Raja Inal Siregar in Medan, that Taiwan's investors were interested in opening businesses in the province.

New mid-sized Jaguar may purr on Jakarta's streets

New mid-sized Jaguar may purr on Jakarta's streets By Alastair Doak JAGUAR's new midsize car, the X200, is expected to open up the Indonesian market for the British-based luxury carmaker. X200, a BMW 5-Series and Mercedes E-Class competitor, will be designed for completely knocked down (CKD) export, which will allow Jaguar to establish assembly operations in Indonesia where imports of completely built cars are restricted.

Palm and coconut oil end firm on RI smog

Palm and coconut oil end firm on RI smog LONDON (Reuter): Palm and coconut oil closed firm on the European vegetable oil market on Thursday on concerns over the effect of the smog covering large areas of Southeast Asia and El Nino. Crude palm oil cif Europe closed $10 to $5 up as bullish sentiment in Europe on worries over possible tight palm oil supplies was reinforced by the limit up close on the Malaysian palm futures owing to the weakness of the ringgit.

Local market likely to recover in 3 months

Local market likely to recover in 3 months JAKARTA (JP): Securities analysts expect the domestic stock market will recover in the next three months if Bank Indonesia, the central bank, further eases the tight monetary policy. The analysts said the central bank's move last week to cut further the key interest rates on its short-term SBI papers sent a positive signal to overall market activities. "If such a move is continued, the market will certainly recover," one of them told The Jakarta Post.

PT Nestle to move

PT Nestle to move JAKARTA (JP): Food producer PT Nestle Indonesia is to move its office headquarters from the Metropolitan II building in Central Jakarta to Arcadia Office Park in South Jakarta in January 1999. Even though the move is still two years away, the 10-year leasing agreement was signed between executives of the park and Nestle Indonesia yesterday.

Hotel staff needs not anticipated

Hotel staff needs not anticipated DENPASAR, Bali: Most hotels and other tourist companies in Bali rarely report their staff needs to the authorities, head of the Bali Manpower Office I Gusti Ngurah Mayoen said yesterday. The information was needed by the authority in order to organize its programs at various vocational training centers, Mayoen told Antara. Better coordination would help the manpower office plan its programs, he said.

SE Asian currencies plunge to new lows

SE Asian currencies plunge to new lows SINGAPORE (Reuter): The Indonesian rupiah slumped to new lows yesterday, raising questions about the central bank's easy monetary policy and casting a fresh pall over Southeast Asian currency markets. The rupiah's failure to strengthen through the key 3,000 to the dollar level in the face of flush money market conditions and strong domestic dollar demand drove offshore players to unload the currency, pushing it to a historic low of 3,125.

Land development needs reform

Land development needs reform By Tommy Firman BANDUNG (JP): One of the main issues that will emerge with urban development is the need to design an effective, efficient and equitable expansion of urban land resources. Therefore, there is a need to reform and reorientate the policies for urban land development. The urban land policy basically refers to the government's agenda for the control, allocation and utilization of urban land resources.

Obituary

Obituary Edward Janner Sinaga, a former director general of press and graphics at the Ministry of Information, died of a heart attack at Mitra Hospital in Jakarta on Thursday evening. Sinaga, who founded Economic & Business Review Indonesia after retiring from public life in 1991, was 67. He was the magazine's publisher and general manager until his death. Born in Pematang Siantar in North Sumatra on Sept.

Worker falls to his death

Worker falls to his death JAKARTA (JP): A 20-year-old construction worker died yesterday after falling 10 meters off a lift at the PT Pulo Gadung Steel complex in East Jakarta. It is thought Edi Santoso, from near Cilacap in Central Java, slipped while in the lift used to carry construction materials at the site, said fellow worker Nurohmad. "I didn't see the accident with my own eyes but only heard about it from the project supervisor," he said.

Municipality told to submit liquor evaluation

Municipality told to submit liquor evaluation JAKARTA (JP): The City Council has asked the municipality to hand over its final evaluation of the central government's regulations regarding the sale and distribution of alcoholic beverages in the city. With the results, the councilors would be able to determine whether or not the city required a new law on the matter, said Councilor Saud Rachman, the council's deputy leader yesterday.

Singapore cracks down on abuse

Singapore cracks down on abuse SINGAPORE (AFP): Singapore vowed yesterday to crack down swiftly on employers abusing foreign maids after Indonesia imposed a freeze on sending its nationals to work as domestics to the country. The Ministry of Labor issued a stern warning to employers and placement agencies after a highly-publicized case in which a 15- year-old Indonesian maid was allegedly battered and made to eat dog droppings.

Garuda plane crashes, 234 killed

Garuda plane crashes, 234 killed MEDAN, North Sumatra (JP): A Garuda Indonesia Airbus-300-B4 airplane, with 234 people on board, crashed shortly before landing in Medan yesterday. Search and rescue workers found the burned wreckage in a 500- meter deep ravine in the Barisan Range about 30 kilometers from Medan. No survivors were found among the pieces of wreckage, parts of which were still burning when it was found.

Sixty arrested in E. Java for alleged subversion

Sixty arrested in E. Java for alleged subversion SURABAYA (JP): At least 60 people suspected of subversive activities were arrested Thursday in the towns of Malang and Kediri, East Java Police Chief Maj. Gen. M. Dayat said yesterday. The group was led by Imam Mahdi Prawironegoro alias Imam Syafi'i, 68, and included three Armed Forces deserters, Dayat said. It also included a Malaysian identified only as Salim. Accompanied by Chief of Brawijaya Regional Military Command Maj. Gen.

Merpati cancels Jambi flights

Merpati cancels Jambi flights JAKARTA (JP): State-owned Merpati Nusantara Airlines will extend the cancellation of its Jambi-Jakarta flights until Sept. 30, due to the thick haze shrouding Jambi's Sultan Thaha airport, Antara reported yesterday. Merpati's district manager for Jambi Ahmad Fauzi said his office had canceled at least 67 flights, resulting in an estimated Rp 800 million ($266,000) loss to the company.

Petrindo ties up with BP Chemical to make solvents

Petrindo ties up with BP Chemical to make solvents JAKARTA (JP): PT Inter Petrindo Inti Citra and Britain's BP Chemicals signed yesterday a joint venture agreement to develop a US$20 million esterification plant in Cilegon, West Java. Inter Petrindo president Peter F. Gontha said that the plant, the first of its kind in Indonesia, would produce ethyl acetate and butyl acetate (solvents), the raw materials for the production of paint, ink, cosmetics and pharmaceuticals.

Sjafrie replaces assistants

Sjafrie replaces assistants JAKARTA (JP): City Military Commander Maj. Gen. Sjafrie Sjamsoeddin replaced two of his subordinates yesterday: his assistants for intelligence and personnel affairs. Sjafrie, who was appointed Jakarta Military Commander on Wednesday, installed Col. Mazni Harun as his assistant for intelligence affairs, replacing Col. Hariyanto Rachman. The latter is to be the Sibolga district military chief in North Sumatra. Sjafrie appointed Col.

Where to go in Jakarta:

Where to go in Jakarta: Exhibitions * Photo Exhibition: ...Yogyakarta; retrospeksi etnofotografi by Tim etnofotografi UGM, at Galeri Fotojurnalistik Antara, Jl. Antara No. 59 Pasar Baru, Central Jakarta, Tuesday to Sunday, 11:30 a.m. to 7:30 p.m., until Oct. 8. * Painting Exhibition: Tiga Nuansa Artistik by Fauzia S. Afiff, Nanan H. Djohan and Nana Banna at Jl. Patra Kuningan VII No. 2, South Jakarta, 10 a.m. to 8 p.m., until Sept. 30.

More action needed to overcome fires

More action needed to overcome fires From Merdeka The haze resulting from forest fires is seemingly not so easy to overcome. And it even tends to worsen with the increasing density of haze over Kalimantan and Sumatra. The problem has been handled by the offices of the Minister for Environmental Affairs and Coordinating Minister for People's Welfare. Still, I have doubts about the success of the outcome.

TV today

TV today TVRI 2:00 p.m. News: Berita 14 2:30 Travel: My Country 2:45 Children's Film: The Crystal Maze 3:10 Music: Jenjang Vokal 3:35 Travel: Wisata Nasional 4:00 Regional News 4:30 Sports 5:30 TV Series: Full House 6:00 News: Lintasan Berita 6:05 Nusantara, The Beloved Country 6:15 Village Program 6:30 TVRI News 7:00 Evening News 7:35 TV Drama: Jimat 8:00 News: Lintasan Berita 8:05 Saturday Night Music 9:00 World News 9:30 Quiz: Berpacu Dalam Melodi 10:30 Late News 10:40 Performance Program 2...

Stock Exchange

Stock Exchange Stock prices on the Jakarta Stock Exchange (in rupiah) on Sept. 26, 1997: ------------------------------------------------------------- Shares Close Change Trading Volume ------------------------------------------------------------- Ades Alfindo 1,075 -25 69,500 AHAP Insurance 2,500 0 0 Alter Abadi 775 -25 2,500 Alumindo Light Metal 850 75 574,000 Alumindo Perkasa 550 0 0 Aneka Kimia Raya 950 0 76,000 Anwar Sierad 1,200 -25 695,000 Apac Centertex Corp.

Britain to block sales of arms to Indonesia

Britain to block sales of arms to Indonesia LONDON (Agencies): Britain's decision to block some arms sales to Indonesia showed that the Labour government was serious about putting human rights at the heart of its foreign policy, Foreign Secretary Robin Cook said yesterday. Cook, who is in New York to attend the 52nd United Nations General Assembly, gave no details in an interview with BBC radio of the contracts that have been blocked.

Land certificate issuance in Bogor

Land certificate issuance in Bogor BOGOR (JP): The Bogor regency issued 30,846 land certificates covering a total area of 6,758 hectares in the 1996/1997 fiscal year, which ended in March, an official has said. The head of the Bogor Agrarian Office, Kadar Soemintapoera, said that another 20,000 certificates were issued by the Land Administration Project in Depok in the same period.

Water crisis in Thousand Islands

Water crisis in Thousand Islands JAKARTA (JP): Thousands of residents living in the Seribu (Thousand) Islands chain off Jakarta Bay are suffering from a serious clean water shortage, it was declared yesterday. The secretary of the Thousand Islands district in North Jakarta, Unu Makmum, said that residents living in Pulau Panggang and Pulau Kelapa faced the most severe water crisis with water levels in their wells declining drastically.

Sukamdi wins Indonesian Open by 13 strokes

Sukamdi wins Indonesian Open by 13 strokes JAKARTA (JP): Unchallenged since the tee-off Tuesday, Sukamdi re-affirmed his position as the top national golfer yesterday by reclaiming the Indonesian Amateur Open golf title by 13 strokes. He closed the round with a 4-under 68 for 281 (70 73 70 68). Sukamdi fired six fine birdies against two bogeys which was more than enough to outclass his SEA Games teammates, Denny Supriadi, Dana Mahmud, Jemin Saputra, Sarmili and Ahmad Indra.

Modern String Quartet shows elegance and energy

Modern String Quartet shows elegance and energy By Emilie Sueur and S. Harmono JAKARTA (JP): Four German musicians offered a new vision of string quartet playing to the audience at the German Embassy in Jakarta last week. The innovation may come from the fact that the Modern String Quartet, established in 1983, plays music composed on the threshold of the next millennium. The program featured works composed by the Quartet members Jorg Widmoser (first violin), Andreas Horicht (viola) and Jost-H.

Asia fund no cure for forex instability: Analysts

Asia fund no cure for forex instability: Analysts TOKYO (Reuter): A proposed rescue fund to deal with Asian currency crises could provide a psychological weapon against speculators, but it would not solve the region's foreign exchange problems, analysts and currency dealers say.

U.S. concerned over widening Japan trade gap

U.S. concerned over widening Japan trade gap WASHINGTON (Reuter): U.S. Trade Representative Charlene Barshefsky on Thursday expressed growing frustration with Tokyo over the widening U.S.-Japan trade gap and a lack of progress in resolving trade frictions. "We are obviously very concerned about the current numbers," Barshefsky told a U.S. Trade Representative advisory committee. She noted a sharp increase in Japanese exports to the United States at the same time U.S.

Vietnam's trade gap widens this month

Vietnam's trade gap widens this month HANOI (Reuter): Vietnam's trade gap widened this month as a run of strong export growth lost some momentum, while industrial production was brisk but remained on a downward trend, General Statistics Office data showed yesterday. The statistics office said the trade deficit for the first nine months of this year was estimated at US$1.813 billion after a gap of $1.721 billion in the January-August period.

Telkom develops mobile Internet

Telkom develops mobile Internet JAKARTA (JP): State-owned PT Telkom, through its research and development unit, is developing a software which will enable users to surf the Internet without fixed telephone lines. Senior general manager of Telkom's center of information technology planning and development, Suryatin Setiawan, told The Jakarta Post Thursday that the software was being developed in cooperation with Nokia, Finland's telecommunications giant.

Gulf Canada has much riding on Indonesia IPO

Gulf Canada has much riding on Indonesia IPO CALGARY (Reuter): Gulf Canada Resources Ltd, whose initial offering of Indonesian oil and gas assets is set to hit the market next week, has plenty riding on the deal as it aims to bring a huge debt load down to manageable levels. Gulf plans to price up to 24.2 million shares of Gulf Indonesia Resources on Monday, in hopes of maximum net proceeds of US$455 million it could apply to its debt, which rings in at about C$2.6 billion (US$1.9 billion).

A world recession in the offing?

A world recession in the offing? As a layman in economics, I am confused about the recent brouhaha over the depreciation of the rupiah, the tight money policy, the floating foreign exchange rate, the skyrocketing interbank overnight rate of 160 percent per year, the deposit rate of 60 percent and others. I believe that the chain reaction triggered by the depreciation of the rupiah can be foreseen. I think that this will happen not only in Indonesia but all over the world.

S'pore rubber frets over Indonesian fires

S'pore rubber frets over Indonesian fires SINGAPORE (Reuter): The Singapore rubber trade was concerned yesterday over news that some Indonesian rubber plantations have been hit by rampaging forest fires and said prices will probably firm as a result, dealers said. "It will firm up the market next week. We were sort of expecting it because there are many plantations there scattered all over the place," a dealer said.

Jakarta's new commander

Jakarta's new commander Although Jakarta is not Jerusalem, Algiers or Kabul, the government has appointed a new military commander with an abundance of combat experience. Despite the fact that it is "all quiet on all fronts" and tomorrow promises to remain just as peaceful, Major General Sjafrie Sjamsoeddin has been newly appointed as regional commander of the nation's capital. Gen.

Satelindo blocks users

Satelindo blocks users JAKARTA (JP): PT Satelindo, the operator of the Global System for Mobile communications (GSM), announced here yesterday that it had blocked 9,000 users due to unpaid bills. The company said that it had improved its billing system which recently affected a large number of subscribers. "We have to block the 9,000 users because they have failed to pay their bills after a 90-day overdue period.

Rupiah hits new low, shares down

Rupiah hits new low, shares down JAKARTA (JP): The rupiah fell to an historic low against the U.S. dollar yesterday while share prices lost 1.6 percent, dealers and brokers said. Currency dealers said the rupiah fell to a new low of 3,125 to the greenback at midday from an opening of 3,035 before settling at 3,100/22 at close. It was the lowest level since the rupiah was floated on Aug. 14. The previous low was 3,070 on Aug. 29.

Honoris exports Kenwood

Honoris exports Kenwood JAKARTA (JP): PT Honoris Perdana Industry, a subsidiary of Modern Group, officially delivered Thursday the first bulk of its Kenwood home audio exports to the United States. The company said the delivery of about 1,890 Kenwood audio sets was launched from the company's factory in Serang, West Java.

Forty-two netted for 'putaw' possession

Forty-two netted for 'putaw' possession JAKARTA (JP): Central Jakarta police have arrested 42 people over the last three weeks for allegedly possessing third grade heroin, known locally as putaw. Lt. Col. M. Ibrahim, the mayoralty police chief, said yesterday that the detainees, netted in routine raids codenamed Operasi Kilat Jaya, were mostly students and private firm employees.

PPP's hope for cabinet lineup

PPP's hope for cabinet lineup From Media Indonesia United Development Party (PPP) chairman Buya H. Ismail Hasan Metareum's hope that his party's leaders can become cabinet ministers is understandable. His hope has nothing to do with the additional number of seats the party won in the House of Representatives during the recent election or a historical precedent in the past, it is simply based on our culture of mutual help.

Mt. Bromo fire extinguished

Mt. Bromo fire extinguished SURABAYA: Firefighters and locals have put out a fire which razed hundreds of hectares of forest on Mt. Bromo, Antara said yesterday. The Bromo Tengger Semeru National Park administration office is still estimating the extent of damage, an office staffer, Ridwan, told the news agency. The national park covers an area of 50,000 hectares. The fire was concentrated on Kepolo and Kususan mountains at an altitude of 2,309 meters. (emb)

Wealthy called on to help Irian drought victims

Wealthy called on to help Irian drought victims JAKARTA (JP): Legislators expressed yesterday shame and concern over the large number of drought-related deaths in Jayawijaya regency in Indonesia's eastern-most province of Irian Jaya. Antara quoted Simon Morin, from Irian Jaya, as saying the regency had infertile soil, difficult terrain and routinely suffered food shortages.