Indonesian Political, Business & Finance News

Archive: 22 January 1998

59 articles found

Freeport conducts diarrhea study

Freeport conducts diarrhea study JAYAPURA, Irian Jaya: A recent outbreak of diarrhea in West Mimika district has killed 19, and not 25 people as earlier reported in the media, copper mining company PT Freeport Indonesia said Tuesday. The number was established in an investigation conducted by the company's public health and malaria control department in cooperation with the provincial office of the Ministry of Health, according to Antara.

A cry for justice

A cry for justice From Pikiran Rakyat Two and a half months have elapsed since the government closed 16 private banks last Nov. 1. The government promised to set up a liquidation team within two months. But no news has been heard about the promised team, let alone its action plan. The government should be more transparent in this matter so that customers could feel at ease. The government's reason to liquidate the banks was to improve the banking system and make the country's banks healthy.

Denmark provides grant

Denmark provides grant JAKARTA (JP): The government of Denmark has agreed to provide a US$7.87 million grant to Indonesia to help secure high quality tree seedlings for the country's reforestation efforts. The agreement for the grant, which would help fund the Indonesia Forest Tree Seed Project, was signed by Danish Ambassador Michael Sternberg and Minister of Forestry Djamaludin Suryohadikusumo here yesterday.

Foreign firms show interest in PGN

Foreign firms show interest in PGN JAKARTA (JP): At least 30 foreign gas companies have shown interest in buying part of state gas company Perusahaan Gas Negara's (PGN) shares, PGN president A. Qoyum Tjandranegara has said. Qoyum said Monday that the foreign companies included El Paso Energy International and Enron, both of the United States, Osaka Gas of Japan and Gas Le Franc of France.

Government to guarantee log supply in domestic market

Government to guarantee log supply in domestic market JAKARTA (JP): The government will ensure that the scraping of a restriction on log exports will not cause a shortfall here, a minister said yesterday. Minister of Forestry Djamaludin Suryohadikusumo said that he and Minister of Industry and Trade Tunky Ariwibowo would work together to guarantee there was a sufficient supply of logs.

Malaysia palm export rises

Malaysia palm export rises KUALA LUMPUR (Reuters): Malaysia will benefit from Indonesia's move to ban palm oil exports in the first quarter of 1998, with exporters and refiners yesterday predicting an increase of up to 25 percent in Malaysian exports during that period. Indonesia last month banned the export of crude palm oil and its products between January and March in a bid to boost domestic production and reduce the price of cooking oil.

Economic woes hit Thai 'Tiger Fever'

Economic woes hit Thai 'Tiger Fever' By Robert Horn PHUKET, Thailand (AP): Thailand still loves Tiger Woods. But "Tiger Fever" has cooled along with the Southeast Asian country's economy. When Woods made his professional Thai debut last year to destroy the field in the Asian Honda Classic, Thailand treated him as a hero returning home. The American golfer's mother, Kultida, is a native of Thailand.

Vietnam's reporters reminded of duty

Vietnam's reporters reminded of duty HANOI (AFP): Vietnam's Communist Party Chief met with the heads of the country's media reminding them of their duty to act as effective instruments of the party and government, local reports said yesterday. Le Kha Phieu, who was appointed to the country's most powerful position last month, stressed "the Central Committee on Ideology and Culture must play a key role in enhancing the propagandizing quality of the press".

Batik dons modern mantle for young style mavens

Batik dons modern mantle for young style mavens By Yogita Tahil Ramani JAKARTA (JP): Spun, colored and drawn on by patient hands, batik has graced the forms of nobles of the Yogyakarta and Solo palaces from the 15th century on. Javanese cultural traditions range from heavy to featherlight cloth, or kain, but the conventionality of batik fabrics ends there.

Haryanto angry about poor service

Haryanto angry about poor service JAKARTA (JP): Minister of Transportation Haryanto Dhanutirto made an impromptu inspection of Pasar Senen railway station at 11 p.m. Tuesday evening and found no station employees there to serve the waiting passengers. Haryanto ordered an aide to call executives of the state railway firm (Perumka) and the staff that should have been on duty at that time to get to their posts immediately.

The enemy within?

The enemy within? It may sound like a title from a movie but it rather encompasses an issue which has been on everyone's mind: The monetary crisis and the recent panic buying spree. According to government officials, who give us various reassuring spoken gestures, the situation is under control and there should be no reason to worry. I'm not denying that the government has been making an effort but it seems to be inadequate to convince the business community and the people.

Medical services for Idul Fitri

Medical services for Idul Fitri JAKARTA (JP): The City Health Agency is to deploy 59 ambulances and 500 medical personnel, including 60 doctors, at points in the city likely to be crowded during the Idul Fitri holiday. The head of the agency, Aslan Lasman, said yesterday that ambulances and personnel would be stationed at bus terminals, railway stations, entertainment spots and on toll roads.

Baby crushed to death at port

Baby crushed to death at port SAMPIT, Central Kalimantan: A baby was crushed to death Tuesday as thousands of people thronged Sampit Port here on their way home for Idul Fitri, Antara reported yesterday. Two men were also injured when the crowd scrambled for seats on board the MV Bukit Raya ship bound for Surabaya, East Java. Sampit Port administrator Darmo Sumarto Manurung said about 4,000 people headed to Java gathered at the port to board the ship with a capacity of only 1,700 passengers.

Rupiah falls further but shares strengthen

Rupiah falls further but shares strengthen JAKARTA (JP): The rupiah crashed to an all-time low of almost 12,000 to the U.S. dollar yesterday on strong dollar demand and growing political concerns, especially on the vice presidency issue, currency dealers said. But as the rupiah fell, stock prices on the Jakarta Stock Exchange (JSX) rose 4 percent on positive sentiment on blue-chip stocks like Telkom, Tambang Timah and Indosat, brokers said.

Ratings of 17 property firms downgraded

Ratings of 17 property firms downgraded JAKARTA (JP): The country's only ratings agency PT Pemeringkat Efek Indonesia (Pefindo) announced yesterday that it had downgraded credit ratings of 17 companies in the property and building materials sectors.

Amien Rais gets award

Amien Rais gets award YOGYAKARTA: Indonesia's oldest Islamic university presented an award Monday to Amien Rais, leader of the Muhammadiyah Moslem organization. He was given the Dakwah Amar Makruf Nahi Munkar award by Indonesian Islamic University for his efforts in promoting good will and urging people to do good. The award was presented personally by the university's rector Zaini Dahlan. (23)

Asian markets mixed amid rupiah weakness

Asian markets mixed amid rupiah weakness HONG KONG (AFP): Asia-Pacific stock markets ended mixed yesterday amid bearish sentiment stemming from renewed weakness in regional currencies led by the rupiah. Hong Kong, Manila, Seoul, and Sydney and Auckland closed lower. Bangkok, Kuala Lumpur, Singapore, Tokyo, Taipei and Shanghai finished higher. Dealers said sentiment turned bearish as the rupiah crashed on strong market demand for the U.S.

EU aid for Irian Jaya, Lampung

EU aid for Irian Jaya, Lampung JAKARTA (JP): The European Union, through its European Community Humanitarian Office (ECHO), has approved the distribution of ECU 1,355,000 (approximately US$1.5 million) to help alleviate the impacts of recent drought, frosts and forest fires in Irian Jaya and Lampung.

Japanese mission suggests new ideas for Indonesia

Japanese mission suggests new ideas for Indonesia TOKYO (Reuters): The timing of a special visit to Indonesia by a senior Japanese government official suggests Tokyo may have new ideas on how to help the crisis-hit southeast Asian nation, economists said yesterday. Japanese Prime Minister Ryutaro Hashimoto sent Vice Foreign Minister Masahiko Komura to Jakarta on Wednesday with a letter for embattled Indonesian President Soeharto.

IMF: Setting the record straight

IMF: Setting the record straight Despite measures taken and assurances given by the government, the market has not responded in a positive manner to the steps taken so far to ease the current economic crisis. Economist Mari Pangestu of the Centre for Strategic and International Studies looks at the crisis' possible underlying causes. JAKARTA (JP): Let's set the record straight on the role of the International Monetary Fund (IMF) in the current Indonesian economic crisis.

Weightlifters Winarni, Patmawati get Timor cars

Weightlifters Winarni, Patmawati get Timor cars JAKARTA (JP): State Minister of Youth Affairs and Sports Hayono Isman handed over three Timor cars yesterday to female world record breakers. Indonesia's Winarni and Patmawati and Thailand's Khassaraporn Suta received the cars from sponsor PT Timor Putra Nasional after breaking weightlifting world records.

U.S., Japan need stable Asia: Lee

U.S., Japan need stable Asia: Lee BANGKOK (AP): Asia's elder statesman, Lee Kuan Yew, urged the United States and Japan to safeguard national security and economic interests yesterday by taking extra steps to help out faltering Asian economies. Lee, Singapore's senior minister, said in a speech prepared for the Thai National Defense College that the economic crisis would not stay confined to Asia and that the costs to the United States and Japan would be high if they sat by and watched.

Hundreds suffer Idul Fitri bonus misery

Hundreds suffer Idul Fitri bonus misery JAKARTA (JP): Hundreds of workers have missed out on their annual Idul Fitri bonus this year after at least five medium companies in the city failed to make the payments, an official said yesterday. The head of the City Manpower Agency's supervision and control division, Soekoyo, said the five companies recently disclosed their inability to comply with government regulations.

Postcards from history's edge

Postcards from history's edge By Yogita Tahil Ramani JAKARTA (JP): A photograph is a trace, something directly stenciled off the real, like a footprint or a death mask. Looming out of an exhibition of old-fashioned photographed delights in a dimmed gallery, the thought of philosopher Susan Sontag reverberates with visual memories. Twilight Cafe on Jl. Kemang Raya 24A, South Jakarta, is holding a 100-postcard exhibition of images of a former Indonesia and Singapore until Jan. 29.

A clear and present danger

A clear and present danger Even without looking at the news, newspaper readers all over Indonesia must have become aware over the past few weeks that the current monetary crisis is hitting this country's newspaper business, and hitting it hard: The thinner newspapers which they are holding, and the fewer ads which those newspapers contain, are an unmistakable indication.

Goldman Sachs sees rate hikes

Goldman Sachs sees rate hikes HONG KONG (Reuters): Goldman Sachs banking research head Roy Ramos said yesterday he had underweighted the banking sector in Hong Kong, Singapore, Thailand, Indonesia, Malaysia and South Korea. Ramos said he had gone underweight on Indonesia, Malaysia, and Korea, citing concerns about a continued liquidity crunch in Indonesia, rising non-performing loans in all these countries, and foreign debt rescheduling expected in Indonesia.

Queueing for foodstuffs

Queueing for foodstuffs From Neraca The government has made all efforts to restore our economy. From accepting the IMF's conditions to the launching of the Love rupiah drive. But there are no signs yet of an economic recovery. It is the community which is mostly affected by the plight. The rupiah is not gaining in strength and the community must bear the burden of inflated prices of the nine food staples. People lining up to buy cooking oil or rice from the logistics agency is an everyday scene.

Probe into crash to continue

Probe into crash to continue PALEMBANG, South Sumatra: Authorities investigating the Dec. 19 SilkAir plane crash here have been experiencing difficulties in reconstructing fragments of the aircraft, according to an expert. Oetarjo Diran, who heads the Indonesian investigation team, was quoted by Antara as saying yesterday the difficulty was because the recovered parts were too small.

Bank Universal top arranger of rupiah loans

Bank Universal top arranger of rupiah loans JAKARTA (JP): Loans worth Rp 4.39 trillion were syndicated last year and most of these transactions were completed prior to Aug. 14, the day the rupiah was floated. Data collected by Basisfield League Table, the database arm of Basis Point -- a Hong Kong-based weekly newsletter covering Asian debt markets -- showed that only Rp 2 billion of the deals were finalized after Aug. 14.

'Putauw' dealer faces 12 years in jail

'Putauw' dealer faces 12 years in jail JAKARTA (JP): A prosecutor asked Central Jakarta District Court yesterday to sentence a 24-year-old man to 12 years in jail for selling 48.5 grams of putauw (low-grade heroin). Prosecutor Leonard E. Simanjuntak said the defendant, Fatoni Padma, was arrested on Aug. 29 last year after allegedly trying to sell the heroin to an undercover police officer on Jl. Kebon Sirih Timur Dalam Raya. Leonard said three officers -- Alfius Firdaus, M.

Conversion Rates

Conversion Rates Jakarta (JP): Bank Ekspor Impor Indonesia's (Bank Exim) conversion rates on Jan.21, 1998: Buying Selling Rp Rp U.S.

Local currency for Games visitors

Local currency for Games visitors KUALA LUMPUR (AP): Using Malaysia's recent currency devaluation as an incentive, Commonwealth Games officials say foreign visitors can pay for their hotels and tickets in the local currency. The organizers have agreed to a government proposal that visitors to the Sept. 11 to Sept. 21 Games be charged in Malaysian ringgit and not U.S.

Ecologists warn of modified crops

Ecologists warn of modified crops JAKARTA (JP): Environmentalists warned yesterday that Indonesia could soon be the target market for genetically modified crops which they claim have long-term harmful side effects.

Govt should take responsibility for crisis: Activists

Govt should take responsibility for crisis: Activists JAKARTA (JP): Activists from several non-governmental organizations (NGOs) urged yesterday the People's Consultative Assembly to convene a special session to ask for President Soeharto's accountability for the economic crisis. In a statement presented to Assembly Deputy Speaker Poedjono Pranjoto, the group of 45 people said the ongoing crisis represented the government's failure to function properly.

Analysts say rupiah repayments the last step

Analysts say rupiah repayments the last step LONDON (Reuters): Indonesian banks have been repaying distressed hard currency debt in rupiah for more than a week, a worrying development that could bring the country's financial crisis to a head, London analysts said. The repayment of dollar-denominated loans in rupiah at current rates has only added to selling pressure on the Indonesian unit and is aggravating the crisis, they said.

Govt acts to enforce reforms

Govt acts to enforce reforms JAKARTA (JP): The government acted yesterday to enforce several reforms agreed with the International Monetary Fund last week by issuing a series of decrees and rules formalizing the measures. The government will also present the revised 1998/1999 draft state budget based on the new reform package to the House of Representatives tomorrow, Minister of Finance Mar'ie Muhammad said yesterday.

Where to go in Bandung:

Where to go in Bandung: Exhibition * Ramadhan Exhibition featuring Handicraft, Fashion, Food, at the Lobby, Preanger Aerowisata Bandung Hotel, Jl. Asia Afrika No. 81, Central Bandung, 10 a.m. to 8 p.m., until Jan. 29. * Painting Exhibition: International Indonesian Paintings Exhibition 1998 by Jeihan, Popo, Erica Hestu Wahyuni, Krisna Murti, Faizal, Maria Tjui, etc., at the lobby level Grand Aquila Hotel, Jl. Dr. Djundjunan No. 116, Bandung, on Jan. 26 to Feb. 28.

Stock Exchange

Stock Exchange Stock prices on the Jakarta Stock Exchange (in rupiah) on Jan.21, 1998: Shares Close Change Trading Volume -------------------------------------------------------------- Ades Alfindo 700 0 0 AHAP Insurance 450 0 0 Alter Abadi 325 25 2,500 Alumindo Light Metal 250 0 2,883,000 Alumindo Perkasa 250 0 0 Aneka Kimia Raya 975 -175 84,500 Aneka Tambang 1,600 125 54,600,000 Anwar Sierad 125 -25 292,500 Apac Centertex Corp.

Relocation of graves to resume next month

Relocation of graves to resume next month JAKARTA (JP): The authorities have halted the relocation of 4,626 graves from the Blok P public cemetery in South Jakarta until next month. The head of the City Public Funeral Agency, Sjafril Zainuddin, said in a statement yesterday that his organization had relocated 2,674 remains and would move the remaining 1,952 from Feb. 12. to March 3 between 8 a.m. and 4 p.m. on working days. Sjafril gave no explanation for the postponement.

Indonesia's troubles plague Asian currencies

Indonesia's troubles plague Asian currencies SINGAPORE (Reuters): The Indonesian rupiah took another battering yesterday and other Asian currencies went down with it, although they bounced off their lows as the rupiah clawed back a little ground. Dealers said they remained under pressure with demand for the U.S. dollar still high. "The dollar is off its highs across the board on profit taking. But underlying demand for dollar is still very firm," a dealer with a Japanese bank said.

ASEAN govts act to stem possible social unrest

ASEAN govts act to stem possible social unrest BANGKOK (Agencies): As the economic crisis worsens, several governments in Southeast Asia are taking steps to prevent it from causing social unrest. Thailand warned workers yesterday it would take tough action against violent or unruly protests following an outbreak of labor unrest.

817 foreigners may lose jobs

817 foreigners may lose jobs SAMARINDA, East Kalimantan: At least 817 foreigners working in the province may have to be laid off following moves by companies across the country to streamline their organizations. "Due to the ongoing economic crisis, some companies in East Kalimantan might reduce the number of their foreign workers," Soewardi, the head of the provincial manpower office, was quoted by Antara as saying yesterday.

Sarwono urges MPR to name VP candidates

Sarwono urges MPR to name VP candidates JAKARTA (JP): State Minister of Environment Sarwono Kusumaatmadja called on the five factions at the People's Consultative Assembly (MPR) yesterday to name their vice presidential candidates, ending the political uncertainty. He said that establishing criteria was inadequate as it was open to various interpretations.

Gold management needs transparency

Gold management needs transparency From Bisnis Indonesia Reading about community members donating gold to the government as an expression of concern, I am happy there are still citizens who are conscience of the economic situation. On the other hand, the government should declare the mechanism of receiving gold donations from the community, whether the donations are gifts or temporary loans at this time of monetary crisis.

Provinces prepare for annual Idul Fitri exodus

Provinces prepare for annual Idul Fitri exodus JAKARTA (JP): Government offices across the country are intensifying preparations to facilitate the exodus of 26.2 million people from urban centers to towns and villages for the Idul Fitri holiday. Antara reported yesterday that 16,232 members of the Armed Forces and other institutions will be deployed to maintain security during the celebrations in West Java. Provincial police chief Maj. Gen.

TV today

TV today TVRI 2:00 p.m. News: Berita 14 2:30 My Country 2:35 Children's Film: Kid Pix Ninja The Wonder Boy 3:10 Science Film: Animal Odyssey 3:35 Religious Teachings: Islam 4:00 Regional News 4:30 Documentary: Pesona Flora 5:00 Arabic Lessons 5:30 Religious Program: Celah-Celah Ramadhan 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 7:30 Performances: Cakrawala Budaya 8:05 Spectrum 9:00 World News 9:30 Koran...

Raising fuel prices

Raising fuel prices Fuel oil subsidies will be removed from the 1998/1999 state budget. This is one of the points agreed upon by the Indonesian government and the International Monetary Fund as contained in the letter of intent signed by the President. One of its most important consequences -- as the public in general sees it -- is that fuel oil prices will soon increase.

IMF tackles Indonesian bank reform

IMF tackles Indonesian bank reform WASHINGTON (Reuters): The International Monetary Fund (IMF) said on Tuesday important work still needed to be done to reform Indonesia's banking sector to protect depositors, and to cope with the country's corporate debt.

Bank merger plans may cool off uneasy depositors

Bank merger plans may cool off uneasy depositors JAKARTA (JP): The plan of several private national banks to merge their operations is expected to persuade nervous depositors from pulling out their money from domestic private banks, bankers have said.

C. Kalimantan helps jobless

C. Kalimantan helps jobless PALANGKA RAYA, Central Kalimantan: The city administration has allocated Rp 100 million (US$12,500) to provide 400 unskilled workers with jobs until Jan. 28 in labor-intensive projects. Mayor Nahson Taway told Antara Friday that workers would be given jobs for 15, six-hour days. They will do jobs such as dredging city canals or cleaning markets for which they will be paid about Rp 6,000 per day. "At least they can earn some money during the fasting month and...

Cikini Hospital keeps doors open for needy

Cikini Hospital keeps doors open for needy By Stevie Emilia JAKARTA (JP): Through several name changes and as a witness to the nation's monumental changes, PGI Cikini Hospital has kept true to its founder's mission to provide health care for the needy. The former mansion of 19th century painter Raden Saleh is the elegant home to the hospital, a century-old this month and one of the most respected medical facilities here. The Jan.

Depositors line up to transfer savings to foreign banks

Depositors line up to transfer savings to foreign banks JAKARTA (JP): Following uncertainty over the rupiah's value and confusion over the future of local banks, some depositors have shifted their savings to foreign banks. As of yesterday, long lines of people were still seen at teller and customer service counters at, for example, the local head offices of Citibank and Bank of Tokyo Mitsubishi, both located on Jl. Jend. Sudirman in South Jakarta.

Gus Dur recovers to Beethoven's symphony

Gus Dur recovers to Beethoven's symphony JAKARTA (JP): Abdurrahman Wahid regained consciousness for the first time yesterday since suffering a stroke Monday night and later showed further improvements as he asked to listen to classical music by Beethoven. Arifin Junaidi, the deputy secretary-general of the Nahdlatul Ulama (NU) Moslem organization, which Abdurrahman chairs, said his condition was "getting better and better".

Vocal LIPI scientists won't be punished

Vocal LIPI scientists won't be punished JAKARTA (JP): The National Institute of Sciences will not take punitive measures against 19 researchers who demanded presidential change on Tuesday, an official said yesterday. Head of the institute Soefjan Tsauri said instead he appreciated the concern shown by the researchers.

Premier Siew ends his three-day Asian tour

Premier Siew ends his three-day Asian tour JAKARTA (JP): Taiwan Premier Vincent Siew headed back to Taipei yesterday ending a three-day visit shrouded in secrecy here. "The Prime Minister and his entourage left for Taipei on a commercial flight this (yesterday) afternoon," a diplomatic source confirmed. Indonesian officials were tight-lipped about the visit and refused to confirm reports that Siew met with President Soeharto Tuesday evening.

Star-rated hotels suffer from low occupancy rates

Star-rated hotels suffer from low occupancy rates JAKARTA (JP): The economic maelstrom across the region and potential political tension in the country have contributed to a continued slowdown in the hotel business, hoteliers have said. Star-rated international hotels have said the economic and political tensions have dragged down their occupancy rates to about 40 percent this month, compared to 80 percent during the peak season.

Press Day organizers cut budget

Press Day organizers cut budget JAKARTA (JP): The current monetary crisis has prompted National Press Day organizers to scrap some planned activities, saving up to Rp 400 million (US$40,000) from the previously projected budget of Rp 500 million. Chief organizer Sofjan Lubis told a press briefing yesterday there won't be any press exhibition at the event which will be held on Feb. 9 in Palembang, the capital of South Sumatra.

Wullems after clarification of national soccer training

Wullems after clarification of national soccer training JAKARTA (JP): National soccer coach Henk Wullems wants the controversy surrounding his salary set aside until the team's training program has been clarified. "I think that the salary is number two. The main priority is the clarification of the training program which I have already prepared," Wullems said Tuesday, referring to the review of his salary which is paid in U.S. dollars.

Ramadhan time for Jakarta

Ramadhan time for Jakarta Thursday Maghrib 6:19 p.m. Friday Imsak 4:21 a.m. Subuh 4:31 a.m.