Indonesian Political, Business & Finance News

Archive: 6 September 1997

71 articles found

House questions granting of new power project to CEPA

House questions granting of new power project to CEPA JAKARTA (JP): PT Consolidated Electric Power Asia (CEPA) Indonesia has been granted a new power project in Jepara, Central Java in a deal which some House of Representative members have questioned.

Safety systems required for all buildings

Safety systems required for all buildings JAKARTA (JP): The city will continue to take stern action against building owners who fail to equip their properties with proper fire protection systems, an officer said.

Asian investors seek safety in Australia

Asian investors seek safety in Australia SYDNEY (AFP): Nervous Asian investors moved to the relative safety of the Australian stock market yesterday, brokers said, pushing the local bourse higher amid turmoil in regional economies.

El Nino may bring famine to Papua New Guinea

El Nino may bring famine to Papua New Guinea PORT MORESBY (AFP): Up to a million people are facing starvation here because of severe drought and frosts caused by the El Nino weather phenomenon, Papua New Guinea's emergency services officials warned yesterday.

Proper regulation best answer to pressure: Tung

Proper regulation best answer to pressure: Tung SINGAPORE (Reuter): The best response to foreign economic pressure is proper regulation, Hong Kong Chief Executive Tung Chee Hwa said yesterday in the midst of market turmoil in Southeast Asia.

Stocks up, rupiah stable

Stocks up, rupiah stable JAKARTA (JP): Share prices on the Jakarta Stock Exchange (JSX) rose 11.28 percent and the rupiah remained stable below the psychological 3,000 level yesterday on the back of the new reform package announced Wednesday.

Malaysia has ample room for higher crude output

Malaysia has ample room for higher crude output SINGAPORE (Reuter): Malaysia has ample room to raise crude production by as much as 100,000 barrels per day (bpd), or 15 percent, in response to Prime Minister Mahathir Mohamad's call for more output.

Half of officials suffer heart disease

Half of officials suffer heart disease UJUNGPANDANG, South Sulawesi: Over half of the officials working at the city administration are said to be suffering from heart disease.Ujungpandang mayor HA Malik B Masry said after a medical checkup conducted by the provincial branch of the Indonesian Heart...

Rating cut seen for Thailand, Malaysia

Rating cut seen for Thailand, Malaysia NEW YORK (Reuter): Asian financial market turmoil would likely pull down the credit standing of Thailand, Malaysia and Korea, said John Seel, Asia economist at Bear Stearns.

600 factory workers go on strike for timely pay

600 factory workers go on strike for timely pay TANGERANG (JP): About 600 factory workers of a glassware manufacturing company went on strike yesterday in front of the plant on Jl. Daan Mogot, Batuceper.

Asian monetary crises tests will to reform

Asian monetary crises tests will to reformBy Philippe Ries HONG KONG (AFP): Asia's monetary crises are testing the will of regional governments to pursue structural reforms, especially financial deregulation, economists have said.

Police foil shark fin smugglers

Police foil shark fin smugglers MERAUKE, Irian Jaya: Police at Mopa airport yesterday foiled an attempt to smuggle out 233 kilograms of shark fins worth some Rp 20 million (US$7,000).The shark fins were being transported through the airport in 10 cartons without appropriate documents.

Rp 17b loans for Anugerah Unggul

Rp 17b loans for Anugerah Unggul JAKARTA (JP): Publicly listed Bank Nusa Internasional and five other local banks agreed yesterday to provide Rp 17 billion (US$5.8 million) in syndicated loans to PT Anugerah Unggul Persada.

Houses of ashes: Expression of respect toward ancestors

Houses of ashes: Expression of respect toward ancestorsBy Listiana Operananta JAKARTA (JP): In the modern age, where most people are absorbed in their own lives and tend to increasingly forget their close relatives who have passed away, it is hard to fathom the existence of buildings used to offer...

Indonesia dominates c'ship

Indonesia dominates c'ship KUALA LUMPUR, Malaysia (AP): Indonesians dominated play at the Asian Badminton Confederation Championship Thursday, capturing five spots in the men's singles quarterfinals.China, Taiwan and Malaysia each had one player qualify.

Tapis crude sold at massive discount

Tapis crude sold at massive discount SINGAPORE (Reuter): Sentiment on the prompt Asian light crude market was bearish on news that a shosha had sold its September Tapis cargo at a very low level, traders said yesterday.

Scientist warns about drought, rupiah problems

Scientist warns about drought, rupiah problems YOGYAKARTA (JP): This year's prolonged drought, which coincides with the rupiah's sharp decline in value, is a serious national problem that may lead to dangerous ramifications if it does not end by the end of the year, a sociologist says.

20,000 Thai village headmen rally

20,000 Thai village headmen rally BANGKOK (AFP): About 20,000 Thai village headmen opposed to a new draft constitution being debated by lawmakers staged a peaceful rally in front of parliament here yesterday, police said.

Request to build fewer cheap houses refused

Request to build fewer cheap houses refused JAKARTA (JP): Deputy Governor of Economic and Development Affairs Tb. M. Rais strongly rejected yesterday a demand from developers for a reduction from 20 percent to 5 percent in their obligation to build cheap apartments of land appropriated.

Army to relaunch campaign to instill better discipline

Army to relaunch campaign to instill better discipline JAKARTA (JP): The Indonesian Army will relaunch the National Discipline Campaign tomorrow in an attempt to instill better discipline."We launched the National Discipline Campaign two years ago.

Qantas adds RI services

Qantas adds RI services CANBERRA (Reuter): The International Air Services Commission said yesterday it had allocated additional capacity to Qantas Airways Ltd on the Indonesian route.The commission said Qantas would use the extra capacity to add a fifth weekly Boeing 737 service between Darwin and...

Indonesia offers technical support to Bangladesh

Indonesia offers technical support to Bangladesh JAKARTA (JP): Indonesia has offered to cooperate with Bangladesh in technical support in the agricultural sector and gas exploration, a minister said yesterday.

Carmakers call for improved safety controls

Carmakers call for improved safety controlsBy John Aglionby THE tragic death of Diana, Princess of Wales, should remind Indonesians that people's attitudes when in a car and not the car itself determine whether they will survive an accident, automotive executives said this week.

Adisumarmo can handle 6m passengers a year

Adisumarmo can handle 6m passengers a year JAKARTA (JP): The Adisumarmo airport in Surakarta, Central Java is expected to accommodate up to six million passengers per year within the next 20 years, an executive said yesterday.

NGOs role in poverty alleviation urged

NGOs role in poverty alleviation urged JAKARTA (JP): Authoritarian regimes or dictatorships do not appear to be conducive to the development of non-governmental organizations (NGOs), but this condition must not discourage social workers from helping the poor, a Malaysian social activist said...

VA Tech gets RI's order

VA Tech gets RI's order VIENNA (Reuter): Two units of Austrian engineering group VA Technologie AG (VA Tech) said yesterday they had received an order worth around 800 million schillings to equip a private hydroelectric power plant in Indonesia.

Punishing culprits will curb fires

Punishing culprits will curb firesFrom PelitaThree hundred thousand hectares of forest in Sumatra and Kalimantan reportedly caught fire and the resulting smoke surged into the air. Even neighboring countries were affected.The burning of wood waste added to the thick smoke.

Matsushita's new plant

Matsushita's new plant JAKARTA (JP): PT Matsushita Semiconductor Indonesia (MEI), jointly owned by the Japanese firms Matsushita Electronic Corp and Matsushita Electric Industrial Co, has officially opened its US$60 million semiconductor plant in Karawang, West Java.

Try the Amazon reptile scares in Luis Llosa's ' Anaconda'

Try the Amazon reptile scares in Luis Llosa's ' Anaconda'By Laksmi Pamuntjak-Djohan JAKARTA (JP): Absorbing the spill-over from America's blockbuster summer means we're bracing ourselves for more disasters (Volcano), aliens (Men in Black), and ... yes ... monsters.

60% of the Games budget in hand

60% of the Games budget in hand JAKARTA (JP): The 19th SEA Games organizing committee has now received 60 percent of the funds it was allocated by the SEA Games consortium to organize the biennial event in October.

Punish scalpers at Pulogadung

Punish scalpers at Pulogadung On Aug. 14, I went to the Pulogadung intercity bus terminal in East Jakarta. I wanted to travel to Purwokerto in Central Java.A scalper offered me a ticket for a Sinar Jaya bus. I asked him whether there were vacant seats on the bus and he said: "yes".

Mahathir warns against graft, religious extremism

Mahathir warns against graft, religious extremism KUALA LUMPUR (Agencies): Malaysian Prime Minister Mahathir Mohamad warned yesterday against the dangers of corruption and Moslem extremism in a speech opening the annual congress of his ruling UMNO party.

Overcharging on subscription fee

Overcharging on subscription fee I have subscribed to The Jakarta Post since August 1997 through a local agent with an understanding that the agent normally adds a small amount to the official subscription fee.

Stock Exchange

Stock ExchangeStock prices on the Jakarta Stock Exchange (in rupiah) on Sept. 5 , 1997: ------------------------------------------------------ Shares Close Change Trading Volume ------------------------------------------------------ Ades Alfindo 900 0 57,500 AHAP Insurance 2,500 0 0 Alter Abadi 925...

SE Asian currencies revive as KL backs off

SE Asian currencies revive as KL backs off SINGAPORE (Agencies): Southeast Asian currencies were lifted yesterday after Malaysia's reversal of a week-old decision to curb short-selling of blue-chip stocks brightened sentiment.The benchmark Kuala Lumpur stock index ended up 12.37 percent at 821.

Amir, Lontoh apologize to IPTN's team of lawyers

Amir, Lontoh apologize to IPTN's team of lawyers JAKARTA (JP): Amir Syamsuddin and Rudhy A. Lontoh, two lawyers representing The Jakarta Post in its legal dispute with aircraft maker PT IPTN, have apologized to the latter's team of lawyers for remarks considered to be inappropriate.

Thailand: Life after a booming economy meltdown

Thailand: Life after a booming economy meltdown The consumerist culture that engulfed Thailand at the height of an economic boom is fading. And as Johanna Son of Inter Press Service writes, it took a serious economic crisis to make people see sense.

Ministers review projects rescheduling

Ministers review projects rescheduling JAKARTA (JP): Economic ministers met for several hours at the finance ministry yesterday to review investment projects that could be rescheduled in anticipation of lower revenues due to the currency turmoil.

House pledges to finalize COWs deliberations soon

House pledges to finalize COWs deliberations soon JAKARTA (JP): House of Representatives' Commission VI has promised to finalize deliberations on the seventh generation draft contracts of work (COWs) this month as the government had cleared the bribery issue related to the mining contracts.

3,000 to take part in Terry Fox Run

3,000 to take part in Terry Fox Run JAKARTA (JP): About 3,000 people are expected to participate in the third annual Terry Fox Run in Jakarta on Sept. 14, starting and finishing at the Regent Hotel on Jl. HR. Rasuna Said, South Jakarta.

Ramos vows to step down

Ramos vows to step down MANILA (AFP): President Fidel Ramos has urged his countrymen to keep faith in his leadership as the Philippines goes through an economic slowdown, and vowed to stand down next year in accordance with the constitution.

Councilor urges quarrying stopped

Councilor urges quarrying stopped JAKARTA (JP): A city councilor urged the city administration yesterday to take stern action against illegal sand quarrying activities on the Thousand Islands, North Jakarta.

Govt's new stance over riot hailed

Govt's new stance over riot hailed JAKARTA (JP): Observers welcomed yesterday the government's decision to follow up with renewed vigor the National Commission on Human Rights' recommendation on the July 27 riots last year.

C. Java residents iodine deficient

C. Java residents iodine deficient SEMARANG, Central Java: One in six people in Central Java suffer from a lack of iodine.It is estimated that some five million of 30 million people in the province are suffering from symptoms of iodine deficiency.Dr. Eko from Dr.

RI firms vulnerable to debt meltdown: Foreign analyst

RI firms vulnerable to debt meltdown: Foreign analyst HONG KONG (Reuter): Concern is mounting that Indonesian corporations will soon hit a debt wall despite Thursday's rate cut, worsening the outlook for the nation once credited with Southeast Asia's most credible currency policy.

Currencies crisis swallows Asian metal demand

Currencies crisis swallows Asian metal demand SINGAPORE (Reuter): Southeast Asia's currency crisis has hammered base metal demand, although there was light buying in Indonesia following Jakarta's market-friendly reforms aimed at restoring economic confidence, traders said yesterday."It's very bad.

Regional stocks rise across the board

Regional stocks rise across the board KUALA LUMPUR (AFP): Share prices in Asia-Pacific markets rose across the board yesterday as governments moved to bring back investors' confidence to the region.The Kuala Lumpur Stock Exchange composite 100 index soared 12.

Malaysia's deficit drops

Malaysia's deficit drops KUALA LUMPUR (AFP): Malaysia recorded a trade deficit of 900 million ringgit (US$300 million) in July, sharply lower than June's 2.8 billion ringgit, the statistics department said yesterday.Exports rose 3.7 percent from last month to 17.

Japan and China cite 'progress' at WTO talks

Japan and China cite 'progress' at WTO talks BEIJING (AFP): Beijing and Tokyo negotiators have issued a joint statement citing "substantive progress" in a just-ended round of talks on China's accession to the World Trade Organization (WTO), the official Xinhua news agency said yesterday.

Asia-Pacific tariff cut to boost tade

Asia-Pacific tariff cut to boost tade SINGAPORE (Reuter): Removing tariff barriers between Southeast Asia, Australia and New Zealand would boost intra-regional trade by at least US$16 billion a year, the author of a new study told Reuters yesterday.

Garuda eyes tariff rise

Garuda eyes tariff rise HONG KONG (Reuter): Senior executives of Garuda Indonesia are to meet next week to discuss possible increases in air cargo rates and passenger prices, a cargo department source in Jakarta told Reuters by telephone.

SE Asian financial markets ease

SE Asian financial markets ease SINGAPORE (Reuter): The crisis in Southeast Asian financial markets eased yesterday after a dramatic U-turn in economic policy by Malaysia, but analysts warned that problems remain in the underlying economies of the region.

ASEAN key to Asia-Pacific region

ASEAN key to Asia-Pacific regionBy Juwono Sudarsono The following article is based on a paper presented at ASEAN's 30th anniversary seminar in Sydney on Aug. 26 this year. The ASEAN Focus Group, the Asia-Australia Institute and the Research Institute for Asia and the Pacific organized the seminar...

AIPO confirms support for government plans

AIPO confirms support for government plansBy Dwi Atmanta DENPASAR (JP): The 18th ASEAN Inter-Parliamentary Organization (AIPO) conference ended yesterday with fresh support for ASEAN governments to form common policies.

S & P affirms triple-B rating on DSPL Finance

S & P affirms triple-B rating on DSPL Finance NEW YORK (Reuter): Standard & Poor's affirmed yesterday its triple-B' rating on DSPL Finance Co. B.V.'s US$150 million 9.12% senior secured notes due 2010, which are guaranteed by Dayabumi Salak Pratama Ltd.The rating outlook is stable.

Abducted villager found dead

Abducted villager found dead DILI, East Timor: A local resident, Carlito Maulaka, who was believed to have been abducted by separatist guerrillas on Sunday has been found dead with eight stab wounds to his body.His body was found 10 kilometers from where he was kidnapped inside a secluded cave.

China aims to improve ties with ASEAN

China aims to improve ties with ASEANBy Rizal Sukma JAKARTA (JP): Chinese Prime Minister Li Peng's recent visit to Malaysia and Singapore marked a further attempt by Beijing to forge closer ties with ASEAN countries.

Proof of foul play in woman death

Proof of foul play in woman death BANDAR LAMPUNG, Lampung: Legal organizations here pledged they would investigate the death of a female worker from the province who was working in Singapore.Director of the Bandar Lampung Legal Aid Foundation, Abi Hasan Mu'an, said an investigation would be...

Where to go in Jakarta: Saturday, September 6, 1997

Where to go in Jakarta: Saturday, September 6, 1997Exhibitions * Painting Exhibition: Estetika 5 Ekspresi, at Hilton Executive Club, Jl. Gatot Subroto, South Jakarta, 9 a.m. to 9 p.m., until Sept. 10. * Painting Exhibition: Nuansa Decoratif by Sutopo, Djoko Maruto, Petrus Pranagung at Mon Decor...

Third suspect in Grogol gold robbery caught

Third suspect in Grogol gold robbery caught JAKARTA (JP): Police detectives have arrested in a raid a third person suspected in last month's robbery in West Jakarta in which a police sergeant was shot dead.

Rubber trade remains quiet in Jakarta, S'pore

Rubber trade remains quiet in Jakarta, S'pore SINGAPORE (Reuter): Trading in the Singapore rubber market was quiet by midsession yesterday as the trade remained skittish about the currency problems of Southeast Asia, dealers said.

Balloon festival at Mal Ciputra

Balloon festival at Mal Ciputra JAKARTA (JP): Mal Ciputra is holding a seminar, festival and competition on balloons at the mall's center atrium from Sept. 1 to Sept. 14.The events, jointly organized with balloon maker PT Jossa Cipta Kreasi Indah, began with a three-day seminar, and include a...

Palm oil steady in Europe despite lower close in KL

Palm oil steady in Europe despite lower close in KL LONDON (Reuter): Palm oil prices held steady on the European vegetable oil market yesterday morning despite a sharply lower close in Kuala Lumpur.Malaysian palm oil futures fell sharply as the ringgit bounced back against the dollar.

An intuitive musical experience at TIM

An intuitive musical experience at TIMBy Emilie Sueur JAKARTA (JP): The Jakarta Performing Art Market 1997 (Pastojak '97) ended last Monday at Taman Ismail Marzuki with the uncanny chords of the Ensemble for Intuitive Music Weimar. A little background on the ensemble.

Rupiah woes hit travel agencies

Rupiah woes hit travel agenciesFrom NeracaWe, along with some university mates, have been running a small-scale travel agency since 1994. Early this year business improved when we got a contract from a certain university for a study tour, involving hundreds of participants.

1,200 hotel rooms booked for world rally championship

1,200 hotel rooms booked for world rally championship JAKARTA (JP): Although the Gudang Garam World Rally Championships in Medan, North Sumatra, are still two weeks away, world class rally drivers and their teams have already booked 1,200 hotel rooms.

MAS won't defer jet delivery

MAS won't defer jet delivery KUALA LUMPUR (AFP): Malaysian Airline System Bhd. (MAS) said yesterday it will not defer the delivery of new aircraft despite concerns that it may add to the country's current account deficit.

KISDI protests newspaper

KISDI protests newspaper JAKARTA (JP): The Indonesia Committee for World Moslems Solidarity (KISDI) has launched a protest against a national newspaper claiming that its editorial on violence in Algeria had slandered Islam.

Writer Nasjah Djamin dies at 73

Writer Nasjah Djamin dies at 73 YOGYAKARTA (JP): Indonesia's profound writer and painter Nasjah Djamin died here Thursday of diabetic complications and was buried yesterday. He was 73.Known for memorable works, including children's books Si Pai Bengal (1951) and Hang Tuah (1952), Nasjah was a name...

Five more species on export quota list

Five more species on export quota list JAKARTA (JP): Five more Indonesian animal species have been added to the export quota list set by the Convention on International Trade in Endangered Species of Wild Flora and Fauna (CITES), an official said yesterday.

Economic crisis 'govt's fault'

Economic crisis 'govt's fault' KUALA LUMPUR (DPA): Malaysia's parliamentary opposition leader suggested yesterday the government's "sudden policy changes" were a main cause of investors losing confidence in the country's stock and financial markets.