Indonesian Political, Business & Finance News

Archive: 20 October 1998

54 articles found

Conversion Rates

Conversion Rates JAKARTA (JP): Bank Bali's conversion rates on Oct. 19, 1998: TT rates Bank notes rates Buying Selling Buying Selling Rp Rp Rp Rp U.S.

RI journalists win international awards

RI journalists win international awards NEW YORK (Reuters): Journalists who have braved harassment and arrest in Niger, Panama, Indonesia, Belarus and Eritrea were named on Monday as recipients of International Press Freedom Awards by the Committee to Protect Journalists.

BI's net claims on IBRA drop

BI's net claims on IBRA drop JAKARTA (JP): Bank Indonesia's net claims on the Indonesian Bank Restructuring Agency (IBRA) declined by Rp 3.5 trillion to Rp 138.49 trillion (US$17.3 billion) in the week ending September 15 from the level in the previous week, the central bank said on Monday. BI said in its weekly indicator statement that the decline was primarily due to the repayment of the central bank's liquidity support by several banks under IBRA's supervision.

Malaysian govt threatens employees

Malaysian govt threatens employees KUALA LUMPUR (Agencies): Moving to curb growing opposition to Prime Minister Mahathir Mohamad, the government is threatening to fire public workers caught at anti-government rallies, a news report said on Monday. Abdul Halim Ali, chief secretary to the government, told civil servants they were required by law to support their government and would lose their jobs if found at street demonstrations.

Cardinal Sin to remain in hospital

Cardinal Sin to remain in hospital MANILA (AP): Manila's influential Roman Catholic archbishop, Jaime Cardinal Sin has developed pneumonia while in the hospital and will have to remain there a while longer, his spokesman said on Monday. Msgr. Socrates Villegas said the 70-year-old prelate "developed a pulmonary congestion due to his disposition to retain fluids in his body." Villegas said Sin continues to undergo regular dialysis due to renal problems and doctors are monitoring his condition.

Ita's murder

Ita's murder The murder of Marthadinata, known as Ita, on October 9, 1998 was really shocking. Ita was scheduled to leave for the United States along with four rape victims from the mid-May riots to give testimony before a number of human rights institutions and the United Nations. According to a police investigation, the murderer, one of Ita's neighbors, actually broke into the house to steal. Rumors have also gone around that the victim showed signs of having been sodomized.

Federal state proposal no threat: Amien

Federal state proposal no threat: Amien JAKARTA (JP): Chairman of the National Mandate Party (PAN) Amien Rais asserted here on Monday that the controversial proposal of a federal state would stand or fall on its own merits, but should not be summarily branded a threat to national unity. "The proposal is meant to keep the country strong as a nation state, not disintegrated," Amien said in a discussion on an independent electoral committee at the party's office.

Punishment sought over slur on Ita's character

Punishment sought over slur on Ita's character JAKARTA (JP): Parents of murdered Marthadinata will demand accountability from forensic expert Abdul Mun'im Idries and psychologist Sarlito Wirawan for allegedly slurring their daughter's character, their lawyer said on Monday.

Five people sent to jail for Taiwan dollar counterfeiting

Five people sent to jail for Taiwan dollar counterfeiting BOGOR (JP): The Bogor District Court sentenced a printing company owner and four of her employees on Monday to jail terms ranging from seven months to eight months for counterfeiting Taiwan $26 million. Presiding judge Soehartono identified the defendants as Sizy Angelina, 49, Ujang Rukmana Achmad, 47, Deni Saepul Rachmat, 46, Tediyanto, 45, and Dedi Muhamad Makmur, 39.

Neiss upbeat over RI economic recovery

Neiss upbeat over RI economic recovery JAKARTA (JP): The International Monetary Fund Director for Asia and the Pacific Hubert Neiss expects the Indonesian economy to turn around in the second semester of next year, which will provide a stronger basis for a sustainable appreciation of the rupiah. He said on Monday that persistent implementation of the economic reform programs, especially in the banking sector, was the key to the economic recovery.

Antimonopoly bill 'must hit its target'

Antimonopoly bill 'must hit its target' JAKARTA (JP): Minister of Industry and Trade Rahardi Ramelan suggested on Monday that the House-initiated antimonopoly bill should also regulate unfair trading practices by multinational companies. Speaking at the plenary session of the House of Representatives, Rahardi said multinational firms often practiced transfer pricing by quoting lower product prices for local subsidiaries. This discriminates against other local companies.

Djasri: Abductors' dossiers to be sent to tribunal

Djasri: Abductors' dossiers to be sent to tribunal JAKARTA (JP): Dossiers of 11 members of the Army Special Forces (Kopassus) suspected of abducting prodemocracy activists will immediately be submitted to the tribunal, says Maj. Gen. Djasri Marin, the new chief of the Armed Forces Military Police. "Insya Allah (God willing), this week the dossiers will be submitted to the tribunal," Djasri told reporters after he was sworn in as chief of the Military Police, replacing Maj. Gen.

Rupiah strengthens to 7,800 against dollar

Rupiah strengthens to 7,800 against dollar JAKARTA (JP): The rupiah maintained its winning streak on Monday, rising 4.8 percent to 7,800 against the U.S. dollar, while local stocks lost some of their previous gains. Currency dealers attributed the strengthening rupiah to offshore dollar selling for the rupiah in response to positive remarks by the International Monetary Fund (IMF) on the rupiah's appreciation against the American dollar in recent weeks.

Boy faces 7.5 years in jail for killing

Boy faces 7.5 years in jail for killing TANGERANG (JP): Prosecutor Rewang asked Tangerang District Court on Monday to sentence Priyono, also known as Sarmin, 16, to seven and a half years in jail for killing his stepmother, Sri Suyati, and stepsister, Endah Setyaningsih. Rewang said that the defendant killed the two women at their home on Jl. Taman Asri Lama in Ciledug district, Tangerang, at 1 a.m. on Aug. 7.

More funding urged for social safety net

More funding urged for social safety net JAKARTA (JP): City councilors urged the central government on Monday to increase fund allocations for the capital's social safety net program to allow it to reach more of the jobless and needy students. Lukman F. Mokoginta from Commission D for development affairs and Nitra Arsyad from Commission E for social welfare said the Rp 77.2 billion (US$9.65 million) allocated by the administration to finance labor intensive projects was too small.

Two drown in Bali

Two drown in Bali DENPASAR: At least two people drowned and one is missing following heavy rains on the island of Bali over the past week. Police said the victims were Desak Putu Raka Adnyani, 35, a resident of Penyaringan village in Jembrana regency in the west of Bali, and Ni Wayan Jeni, 25, a resident of Berembeg village in Selemadeg district, Tabanan. The missing person has been named as Ni Wayan Sundri, 47, also of Berembeg. Ni Wayan Sundri was swept away while crossing a river on Saturday.

Where to go in Bandung:

Where to go in Bandung: Exhibitions * Fine Arts Exhibition: Selasar Seni Sunaryo, by Sunaryo, at Contemporary Art Museum, Jl. Bukit Pakar Timur No. 100 (Phone: 022 2507939). * Painting Exhibition at Sahid Topas Galeria Hotel, Jl. Dr. Djundjunan No 153 (Phone: 022 642631), until Nov. 17. Performances * Sundanese Drama: Wanara Sakti, by Lingkung Seni Srimurni, in Gedung Kesenian Rumentang Siang, Jl. Baranang Siang 1 (Phone: 022 433562), 8 p.m. to 10 p.m., Oct. 24.

Soeharto's family has vast lands in Lombok

Soeharto's family has vast lands in Lombok JAKARTA (JP): The National Land Agency (BPN) has discovered a total of more than nine million square meters of land in West Nusa Tenggara listed as belonging to firms of former president Soeharto's family. Tjahjana M. Ruchjat, chief of BPN branch office in West Nusa Tenggara's provincial capital of Mataram, confirmed that the land's measurements and location have been sent to State Minister for Land Affairs Hasan Basri Durin.

Civil servants asked to change work status

Civil servants asked to change work status JAKARTA (JP): About 1,000 civil servants employed in six of the seven city-owned firms will be invited to relinquish their status and become regular staff members of the companies, a senior official said on Monday. Those wishing to remain civil servants will be removed to the city administration office, head of the employee affairs bureau of the city administration Adjat Wiraatmadja said.

Lufthansa, SIA launch code sharing flights to Jakarta

Lufthansa, SIA launch code sharing flights to Jakarta JAKARTA (JP): Lufthansa German Airlines and Singapore Airlines (SIA) launched a strategic alliance on Monday by introducing code sharing flights in a bid to maintain their market share in crisis-hit Indonesia. Lufthansa's country manager here, Carlos M.

APEC summit facing some unusual risks

APEC summit facing some unusual risks TOKYO (AP): The last time the Asia-Pacific region held its annual summit to promote free trade, Japan's prime minister assured everyone that his economy wouldn't be the next victim of Asia's financial crisis. Canada, the host country, was criticized by some in Canada for cracking down on demonstrations against Soeharto, Indonesia's iron-fisted ruler at the time.

Hyundai wins, Ford loses in Kia takeover

Hyundai wins, Ford loses in Kia takeover SEOUL (Reuters): South Korea's Hyundai Motor Co Ltd was awarded the bid to take over troubled Kia Motors Corp and sister firm Asia Motors, the chief of the auction panel said on Monday. Ford Motor, a major Kia shareholder, was disqualified after it offered a bid price for Asia Motors which was below the face value of 5,000 won ($3.74), Lee Jong-dae, president of the chief administration office of Kia Motors, told reporters.

Athletics trio seek Asiad slots

Athletics trio seek Asiad slots JAKARTA (JP): Tersiana Riwu Rohi, Ni Nyoman Rai and Suyono have something to prove in the Brunei Open track and field tournament next week if they want to qualify for the 13th Asian Games in December. "We will consider including them in the national team for the Asiad, provided they excel at the Brunei Open," national team training director Mochamad Hindarto said as quoted by Antara on Monday.

Estrada, Habibie lack experience: Malaysian minister

Estrada, Habibie lack experience: Malaysian minister KUALA LUMPUR (Reuters): Statements in support of sacked Malaysian finance minister Anwar Ibrahim by the Philippine and Indonesian presidents showed their "shallow" experience, a Malaysian government minister said on Monday. The national Bernama news agency quoted Primary Industries Minister Lim Keng Yaik as saying the comments by Philippine President Joseph Estrada and Indonesia's President B.J.

Student 'must grow as moral force to beat challenges'

Student 'must grow as moral force to beat challenges' JAKARTA (JP): Students from 44 colleges across the country are currently taking part in a three-day forum initiated by the Ministry of Education to discuss "challenges in the reform era" and the threat of disintegration facing the nation.

Tangerang braces for killing spree

Tangerang braces for killing spree TANGERANG (JP): About 600 noncommissioned law enforcement officers, along with local residents, have been alerted to anticipate a possible mysterious killing spree of sorcerers, locally known as dukun santet. "The officers are on the alert to help safeguard the city from any possible killing spree after it was reported to have spread from East Java to Central and West Java," Lt. Col.

Teenager nabbed for robbing, killing Tebet teacher

Teenager nabbed for robbing, killing Tebet teacher JAKARTA (JP): South Jakarta police detectives have arrested one of two men accused of killing and robbing a 42-year-old teacher in Tebet, South Jakarta. The head of the Jakarta Police detective unit, Col. Gories Mere told the media on Monday that Muhammad Habib, 19, was nabbed on Saturday evening at an Islamic boarding school on Jl. Wadas Raya in Depok, south of here.

House urges review of Freeport's deal

House urges review of Freeport's deal JAKARTA (JP): The House of Representatives demanded on Monday that gold and copper mining company PT Freeport Indonesia's mining contract of work (COW) in Irian Jaya be renegotiated to secure greater benefits for the government. House Commission V for mines and energy said it would set up a team to assist the government renegotiate the Freeport contract of work in the near future. The contract was due to end in 2022.

Weaker sections pay the price for recession in Asia

Weaker sections pay the price for recession in Asia By John Gittings KUALA LUMPUR: The villagers on the edge of Kuala Lumpur resisted eviction from their tree-shaded kampong twice; the third time, when they were threatened with losing their identity cards, they gave up the struggle. They are long-term Indonesian residents in Malaysia, and have lived legally for years in the suburban village where greedy developers are moving in.

Contract staff get $6 per month

Contract staff get $6 per month JAKARTA (JP): Each of the 793 Tangerang mayoralty contract employees receive a monthly salary of Rp 52,550 (approximately US$6), says an official. Head of the mayoralty's public relations section, Harry Mulya Zein, told Antara on Sunday that his office spent at least Rp 500 million per year on contract employees.

The Golkar tragedy

The Golkar tragedy Golkar's admission on Saturday that "it was all a mistake" must qualify as the biggest understatement of the century. Golkar leaders seem to have only just grasped what many thinking people in this country have known for decades, that the way the political organization ruled the country under former president Soeharto, chiefly through the use of force and oppression, was all a tragic mistake. It is one thing for Golkar to admit its mistake, but quite another to act on it.

Habibie won't be included on Golkar board, says Gafur

Habibie won't be included on Golkar board, says Gafur JAKARTA (JP): Golkar ended its three-day leadership meeting on Monday deciding that one of its most senior members, B.J. Habibie, would no longer have any formal position in the party. Golkar deputy chairman Abdul Gafur was quoted by Antara as saying after an unscheduled meeting with Habibie at the Merdeka Palace that the President would not be included on Golkar's advisory board. Gen.

Tuna exports slumping 'due to illegal fishing'

Tuna exports slumping 'due to illegal fishing' JAKARTA (JP): Indonesia's tuna exports are likely to drop by at least 50 percent this year due to the rampant illegal fishing activities of foreign ships, Minister of Agriculture Soleh Solahuddin said on Monday. Soleh said that many foreign ships, most of which were from Thailand, had operated illegally in Indonesian waters.

Two-way conspiracy

Two-way conspiracy Having read Rahayu Ratnaningsih's two-part article entitled "It's time for Chinese-Indonesians to wake up" (Oct. 8 and Oct. 9), I would like to make a few comments. In the first article, Rahayu suggested that Indonesian people today are not indigenous. I strongly disagree with this. I will point out a few examples of evolution of indigenous societies, as seen from a historical perspective.

Jakartans turn to farming to survive crisis

Jakartans turn to farming to survive crisis By A.A. Aribowo JAKARTA (JP): The country's capital is known as a "concrete jungle" but, among the high-rises and flyovers, are open spaces offering a promising future for farming. Sites alongside rivers, such as those near Jl. Cempaka Putih Barat and Jl. Lodan, North Jakarta, are preferred because of their accessibility to a vital water supply. Farmers usually water their plants twice a day, in the morning and afternoon, using buckets.

Officials summoned over corruption

Officials summoned over corruption PURWOKERTO, Central Java (JP): Thirty-five officials including the regent's secretary were summoned to the local prosecutor's office on Monday in relation to charges of corruption that have been laid against former Banyumas regent Brig. Gen. Djoko Sudantoko.

TV today

TV today TVRI 2:00 p.m. News: Berita 14 2:35 Children's Film: The Big Valley 3:05 Children's Music: Album Kenangan Anak 3:30 Village Program 4:00 Regional News 4:30 Music: Lagu Pop Daerah 5:00 English Lessons 5:30 Documentary Program 6:00 News: Lintasan Berita 6:05 Documentary: Rona Nusantara 6:15 Sports: Monitor Olah Raga 6:30 TVRI News (in English) 7:00 Evening News 7:35 Music 8:00 News: Lintasan Berita 8:05 Music 8:30 Talk Show: Dialog 9:00 World News 9:35 Music: Kenangan Masa 10:30 Late...

Villagers treated for poisoning

Villagers treated for poisoning KENDARI, Southeast Sulawesi: A number of villagers in the districts of Soropia and Sampara were poisoned after consuming a type of cassava, Antara reported Monday. The report quoted an official who said the victims had all been cured and that no one had been severely affected. It did not say when they were treated for the affliction or how many were affected.

Two firms blamed for forest fires

Two firms blamed for forest fires JAKARTA (JP): A court in South Sumatra has found pulpwood estate PT Musi Hutan Persada -- a subsidiary of Prayogo Pangestu's Barito Pacific Timber group -- and local plantation company PT Inti Remaja Concern guilty of negligence that led to forest fires in the province in 1997. Environmental activist Longgena Ginting of the Indonesian Forum for Environment (Walhi) said on Monday the Palembang District Court ordered the companies in its Oct.

Radisson Hotel changes menu after 'May riots'

Radisson Hotel changes menu after 'May riots' JAKARTA (JP): While some hoteliers decided to close their restaurants due to the sluggish market and unfavorable rate of the local currency, the four-star Radisson Hotel adopted a rare idea by shifting the menu from Thai to local cuisine. According to General Manager Maurice Cook, the inspiration came to the hotel staff after the restaurant in the hotel's lobby faced a serious problem following the May mayhem in the capital.

Bapepam urged to be more independent

Bapepam urged to be more independent JAKARTA (JP): Senior economist Sjahrir urged the government on Monday to make the Capital Market Supervisory Agency (Bapepam) more independent. He said that without independence, the capital market watchdog would not be able to come up with appropriate and quick decisions when dealing with capital market problem such as stock trade fraud.

Develop the local market

Develop the local market The appreciation of the rupiah's value against the dollar, though encouraging, must be greeted with caution because this current is caused more by a weakening of the dollar than by a strengthening of the rupiah. The rupiah's appreciation is thus, more than anything else, the result of an external factor -- that is, the projected decline of the U.S. economy, which has prompted that country's central bank to lower the interest rate by 0.25 percent.

I am not Winters' close friend

I am not Winters' close friend Your news item on Sunday, Oct. 18 made mention of me being a close friend of Jeffrey Winters. The statement, however, needs qualification. I don't want Jeffrey and The Jakarta Post readers to think I am a name dropper. The qualification came from The Jakarta Post, not from me or from Jeffrey. The truth is, Jeffrey and I have been exchanging e-mails, because he was scheduled to speak at the Indonesia Forum, an international conference I am organizing.

Indonesians partly to blame

Indonesians partly to blame Is it not time that Indonesians themselves had the courage to accept some of the blame for their current dilemma? It is very easy to point elsewhere. So far in this paper they have accused the expatriates, the Americans, the IMF, the Jews, the Chinese and now it's the turn of ex-president Soeharto.

Dengue claims 47 lives in two months

Dengue claims 47 lives in two months JAKARTA (JP): Forty-seven have died of dengue fever in 14 provinces from August to September, according to the Ministry of Health. Quoting a report from the directorate general of eradication of contagious diseases, a release made available here Monday said there were 1,484 cases with 30 deaths in August and 514 cases with 17 deaths in September.

Indonesia's textile exports to reach $7.45b this year

Indonesia's textile exports to reach $7.45b this year JAKARTA (JP): The Indonesian Textile Association has predicted that exports of the country's textile and textile products will rise about 2 percent to US$7.45 billion this year from $7.3 billion last year. The association's secretary general, Irwandy Muslim, said over the weekend that the economic crisis at home had encouraged textile producers to seek more offshore markets for their products.

15 workers missing after boat capsizes

15 workers missing after boat capsizes KUALA LUMPUR (Reuters): Fifteen people were missing after a boat filled mostly with hotel workers sank off central Malacca state, the national Bernama news agency said on Monday. Sixteen other people survived when the boat capsized at around midnight on Sunday, it said. The boat sank after being hit by strong waves while sailing to a jetty on the peninsular Malaysian mainland from a resort on Pulau Besar off Malacca, the agency said.

NU members warned not to take law into their own hands

NU members warned not to take law into their own hands JAKARTA (JP): Leaders of the Moslem organization Nahdlatul Ulama (NU) warned their members on Monday not to take the law into their own hands in their attempt to stop the mysterious killings which have claimed more than 150 lives in East Java in the past two months.

Australian firms urged to invest in Indonesia

Australian firms urged to invest in Indonesia CANBERRA (Dow Jones): Indonesian Special Trade Envoy James Riady on Monday urged Australian companies to invest in Indonesia for the medium- and longer-term to gain a "foothold" in the market ahead of its economic recovery. James, on a week-long visit to Australia to promote investment in Indonesia through meetings with local business and political leaders, said the Indonesian economy has a bright future beyond two to three years.

Stock Exchange

Stock Exchange Stock prices on the Jakarta Stock Exchange (in rupiah) on Oct.19, 1998: Shares Close Change Trading Volume -------------------------------------------------------------- Ades Alfindo 275 0 0 AHAP Insurance 400 0 0 Alter Abadi 250 0 872,500 Alumindo Light Metal 325 0 0 Alumindo Perkasa 175 -50 12,000 Aneka Kimia Raya 125 0 12,500 Aneka Tambang 1,475 -25 25,332,000 Anwar Sierad 100 0 0 Apac Centertex Corp.

Hotel employees stage protest

Hotel employees stage protest JAKARTA (JP): At least 36 employees of Hotel Alia on Jl. Cikini Raya, Central Jakarta, complained to the Jakarta Legal Aid Institute on Monday that they had been moved to other branch offices on grounds that they set up a workers' union. The workers' spokesman, Edi Suprapto, said the two-star hotel management moved the workers, but did not fire them, after they set up a branch of the All-Indonesian Workers Union (SPSI) at the hotel earlier this month.

Saefuddin explains motive behind statement

Saefuddin explains motive behind statement JAKARTA (JP): State Minister of Food and Horticulture A.M Saefuddin said on Monday his recent declaration of intent to run for the presidency was aimed at diminishing public misperceptions about the position and not to insult other parties.

Toll-free marketing agreement

Toll-free marketing agreement BANGKOK, Thailand (AP): The Communications Authority of Thailand announced Monday it will sign a joint venture agreement to market international 1-800 toll-free telephone services. The state company, which operates overseas telecommunications links and the postal service, will sign a marketing agreement Thursday with the private Thai company TeleMed Corp., said a news release from TeleMed.

SE Asian currencies higher in thin trading

SE Asian currencies higher in thin trading SINGAPORE (Dow Jones): Most Southeast Asian currencies rose modestly in holiday-thinned trading Monday, led by another fall in the dollar against the yen. As a holiday in Singapore and Malaysia kept regional currency trading volumes subdued, traders focused on moves in the dollar against the yen. During Asian trading, the dollar continued to weaken amid expectations that U.S.