Indonesian Political, Business & Finance News

Archive: 21 October 1998

55 articles found

Four developers in arrears

Four developers in arrears TANGERANG (JP): Two major real estate developers and two golf course developers here have not yet paid their 1997 land and building tax, which reached a total of Rp 1.8 billion, an official said Tuesday. "The outstanding tax of the four delinquent developers does not include fines for the debts or this year's tax," head of the Tangerang Land and Building Tax Office, Djunaidi said.

Indorayon strikers return to work

Indorayon strikers return to work MEDAN, North Sumatra (JP): Thousands of employees of PT Inti Indorayon Utama began to return to the plant in Porsea in North Tapanuli on Tuesday after a five-day sit-in at the governor's office here. They represented 6,000 employees who appealed against the pulp and rayon fiber plant being closed down. Their children had also attended in their uniforms, saying their school run by Indorayon would also be closed if the plant was shut.

Gus Dur treated at RSCM

Gus Dur treated at RSCM JAKARTA (JP): Leader of the country's largest Moslem organization Nahdatul Ulama, Abdurrahman Wahid, has been hospitalized since Saturday in Jakarta. "My father was brought to hospital on Saturday after meeting some guests. The doctor said he was too exhausted," Ina, one of the ulema's daughters told The Jakarta Post on Tuesday. She said her father was recovering. "Maybe the doctor will allow him to come home in two or three days," she added.

Badminton star Sigit denies doping charge

Badminton star Sigit denies doping charge JAKARTA (JP): A cloud of suspicion hangs over the struggling Indonesian badminton camp following a press report that world men's doubles champion Sigit Budiarto failed a drug test conducted by the National Sports Council. The doubles specialist, who won the 1997 World Championship with Chandra Wijaya, denied on Tuesday the accusation from an unnamed source at the council that made headlines in a local daily.

Freeport vs. people

Freeport vs. people If what The Jakarta Post has been reporting lately concerning the 1991 shares transactions which involve PT Freeport Indonesia, Indocopper Investment Corporation and PT Nusamba is true, there is certainly much presented that would lead most analytical minds to suspect that the transactions are not all that those involved are asking the general public to believe. Given the statement of Mr.

Malaysia denies it plans to review S'pore ties

Malaysia denies it plans to review S'pore ties KUALA LUMPUR (Reuters): Malaysia has no plans to review ties with Singapore and wants to resolve disputes with the island republic, Deputy Foreign Minister Leo Michael Toyad was quoted as saying on Tuesday. "The government will resolve all outstanding issues with Singapore even though it may be difficult and take time," Toyad told the Malaysian parliament, the national Bernama news agency said.

Directory

Directory Correction: The Capital Market Directory 1998 mentioned in the photo caption on this page on Tuesday is published annually by the Institute for Economic and Financial Research (ECFIN) and not by the Jakarta Stock Exchange. We regret the error. -- Editor

Currencies mixed as life returns to SE Asian markets

Currencies mixed as life returns to SE Asian markets SINGAPORE (Dow Jones): Southeast Asian currencies were mixed against the U.S. dollar in late trading on Tuesday, as signs of life return to the region's financial markets. "Some investor interest has returned to Asian equities, despite the fact that lower interest rates have yet to buoy domestic consumer sentiment depressed by unemployment worries," said a regional strategist at Standard Chartered Bank.

Indorayon allowed to reopen pulp, rayon mills

Indorayon allowed to reopen pulp, rayon mills JAKARTA (JP): The government has allowed publicly-listed rayon and pulp producer PT Inti Indorayon Utama to reopen its pulp and rayon mills in North Sumatra, which have been shut down for almost four months due to security disturbances by protesters who accused the company of damaging the environment.

Corruption fears slow down aid for the poor

Corruption fears slow down aid for the poor JAKARTA (JP): Worries over leakages and corruption have slowed down the government's social safety net spending for the poor, creating a surprising cash surplus in the state budget during the first five months of the current fiscal year, according to a government document issued on Tuesday.

Stock Exchange

Stock Exchange Stock prices on the Jakarta Stock Exchange (in rupiah) on Oct. 20, 1998: Shares Close Change Trading Volume ------------------------------------------------------- Ades Alfindo 275 0 1,500 AHAP Insurance 400 0 0 Alter Abadi 275 25 491,000 Alumindo Light Metal 275 -50 15,000 Alumindo Perkasa 175 0 0 Aneka Kimia Raya 150 25 500 Aneka Tambang 1,450 -25 9,668,000 Anwar Sierad 100 0 0 Apac Centertex Corp.

Journalists in East Java receive death threats

Journalists in East Java receive death threats SURABAYA (JP): Following threats made to Moslem preachers by unidentified people here, journalists have been warned that they will be among the next victims in the killing spree which has so far claimed more than 150 lives in East Java. The threats were printed on flyers and circulated widely among the public in the provincial town of Jember.

Reform team criticized for lack of achievement

Reform team criticized for lack of achievement JAKARTA (JP): A councilor has criticized the reform team set up by Governor Sutiyoso to rid the city administration of corruption, collusion and nepotism for its resounding lack of achievement. Amarullah Asbah, the chairman of Commission C for financial affairs, said on Tuesday that the team had yet to publicly announced the findings of its investigation or take any steps toward bringing corrupt officials to account for their misdeeds.

Singapore-made exports rose 1.7% in September

Singapore-made exports rose 1.7% in September SINGAPORE (Bloomberg): Singapore-made exports, closely watched for the health of the island's economy, unexpectedly rose 1.7 percent year-to-year in September as European orders offset shriveled demand from recession-torn Asia. Even so, an economic recovery isn't in sight. Electronics exports, which account for two-thirds of Singapore-made goods, fell 1.2 percent to S$5.85 billion (US$3.59 billion).

Govt updating method for rice data collection

Govt updating method for rice data collection JAKARTA (JP): The Ministry of Agriculture and the Central Bureau of Statistics (BPS) are preparing new methodology to provide more accurate statistical data on the country's rice production.

Habibie appoints 15 new ambassadors

Habibie appoints 15 new ambassadors JAKARTA (JP): President B.J. Habibie swore in 15 ambassadors on Tuesday, including two senior diplomats and former Air Force chief Marshall (ret) Rilo Pambudi. Secretary-general of the Ministry of Foreign Affairs Abdul Irsan was appointed the envoy to the Netherlands in the ceremony at the State Palace. The ministry's director general for foreign economic relations, Soemadi D.M.

Conversion Rates

Conversion Rates JAKARTA (JP): Bank Bali's conversion rates on Oct. 20, 1998: TT rates Bank notes rates Buying Selling Buying Selling Rp Rp Rp Rp U.S.

Rights on freedom of expression to get guarantee

Rights on freedom of expression to get guarantee JAKARTA (JP): The House of Representatives (DPR) will on Thursday pass the freedom of expression bill, turning it into a new law which is expected to fully guarantee the right to express aspirations and opinions in public places. Legislators agreed the document would be the opposite of the aborted government decree in lieu of a law, which critics said was oppressive and restricted freedom of expression.

Sarlito's statement

Sarlito's statement From Kompas I respect Sarlito Wirawan as a psychologist and a professor. However, his statement quoted in Kompas of Oct. 12 startled me. Did Sarlito really make the statement (without being asked by the reporter, so he consciously revealed something) or was he misquoted by the press? If Sarlito really said that he "accused" Ita, a member of a volunteers' team, of being on narcotics and a sex worker, was he speaking as a professor or as a layman?

Joint fact-finding team warned 'not to hold anything back'

Joint fact-finding team warned 'not to hold anything back' JAKARTA (JP): A human rights activist has exhorted the government-sponsored joint fact-finding team probing the May riots not to hold anything back when it announces its findings on Friday.

Communist threat is scapegoat politics: Survey

Communist threat is scapegoat politics: Survey JAKARTA (JP): Few people in this country buy the Armed Forces' (ABRI) warning of a possible communist comeback, believing that the Indonesian Communist Party (PKI), outlawed since 1966, has been used as a convenient scapegoat when no other answers are available, according to a survey jointly commissioned by The Jakarta Post and D&R weekly magazine. The survey asked 1,130 people in five major cities between Oct. 6 and Oct.

Airfares may not go up if rupiah remains strong

Airfares may not go up if rupiah remains strong JAKARTA (JP): The Association of Indonesian Airlines (INACA) said on Wednesday it would cancel its plan to raise domestic airfares by 14.5 percent in December if the rupiah continued to strengthen against the U.S. dollar in the coming months. INACA's Secretary-General Benny Rungkat said a review team consisting of officials from INACA, the Ministry of Communications and the House of Representatives was still studying the planned fare increase.

McDonald's plans expansion

McDonald's plans expansion CHICAGO (Reuters): After reporting a 7 percent gain in third- quarter earnings and a cutback in its Asian expansion, McDonald's Corp. said Monday the fast food company plans to open about 2,000 new restaurants worldwide in 1999. This year, Chief Executive Jack Greenberg said, McDonald's will open about 100 fewer restaurants than it expected in five Southeast Asian countries due to tough economic times in the region.

Can the burgeoning TV viewer polls really be trusted?

Can the burgeoning TV viewer polls really be trusted? By Antariksawan Jusuf JAKARTA (JP): Gone are the days when Indonesian television viewers passively sat on the couch watching every program unilaterally broadcast into their homes by each station. Until a few years ago, there was no direct dialog between stations and viewers. The only initiative viewers could take was through clicking the buttons on their remote controls.

Priest Y.B. Mangunwijaya joins farmers' protest

Priest Y.B. Mangunwijaya joins farmers' protest YOGYAKARTA (JP): Renowned writer and priest Y.B. Mangunwijaya joined hundreds of farmers and students from Gadjah Mada University here on Tuesday in a demonstration against perceived unnecessary intervention in farmers' lives. He was seen wearing a farmer's triangular bamboo hat and a sarong at the protest at the university's School of Forestry that involved about 200 farmers from dozens of villages in Magelang regency.

Use of ASEAN monies not viable: RP official

Use of ASEAN monies not viable: RP official MANILA (AP): A proposal to use local currencies instead of U.S. dollars in trading within Southeast Asia is not viable, a Philippine official said Tuesday. Officials in the Association of Southeast Asian Nations have proposed the scheme as a way to lessen the region's reliance on U.S. dollars and strengthen its economic and financial integration.

Bank restructuring policy to focus on four measures

Bank restructuring policy to focus on four measures JAKARTA (JP): The government has announced that the bank restructuring strategy in the coming months will focus on four measures -- recapitalization, liquidation of insolvent banks, merger of state banks and recovering liquidity support.

New exchange awaits decree

New exchange awaits decree JAKARTA (JP): The operation of the country's commodities futures exchange now awaits a presidential decree, expected to be issued by the end of this year, a senior official said Tuesday. The chairman of the Indonesian Commodity Exchange Board (Bapebti), Arifin Lumban Gaol, said that Bapebti had completed draft operating regulations for the exchange.

Telkom rings wrong number with kiosks

Telkom rings wrong number with kiosks BOGOR (JP): Operators of the 253 telecommunications kiosks here have complained of carelessness by PT Telkom in issuing new licenses without first considering interests of existing businesses. They charged on Tuesday that the state telecommunications firm's negligence had led to the proliferation of the kiosks, locally known as Wartel, which in turn caused a significant drop in their earnings.

More autonomy 'key to keeping nation united'

More autonomy 'key to keeping nation united' JAKARTA (JP): Scholars provided on Tuesday different explanations about what constitutes the threat of national disintegration, but agreed that more autonomy for regions would be among the best measures to keep the nation unified. Moslem scholar Nurcholish Madjid said that what some analysts considered recent signs of disintegration were actually the venting of people's participation in social and political life.

A.M. Saefuddin apologizes over statement on Megawati

A.M. Saefuddin apologizes over statement on Megawati JAKARTA (JP): State Minister of Food and Horticulture A.M. Saefuddin apologized on Tuesday for his remark last week which some people said insulted Hindu and Balinese people, saying he had not intended to humiliate anyone. "People who came to the conclusion that I intended to harass a certain religion made a wrong interpretation," the minister said after meeting President B.J. Habibie at Merdeka Palace.

Discrimination

Discrimination On Oct. 16, my friend and I took an old friend for a drink. She was visiting Jakarta on family business. We preferred to go to a hotel, feeling it would be a safe place to go. So we decided to go to the bar at the Shangri-La Hotel. But two security guards stopped us. Why? They gave so many reasons. One of them is that "because there are too many women inside". But while we were still standing there they let expatriate women in and any women who walked in with an expat man.

Call to alter Freeport contract 'unrealistic'

Call to alter Freeport contract 'unrealistic' JAKARTA (JP): Analysts said on Tuesday that the House of Representatives' call for a review of giant copper and gold mining company PT Freeport Indonesia's contract of work (COW) was unrealistic. Vice chairman of the Indonesian Mining Association (IMA) M.

Golkar introduces its new outlook

Golkar introduces its new outlook JAKARTA (JP): President B.J. Habibie was conspicuously absent from Golkar's 34th anniversary reception on Tuesday, where chairman Akbar Tandjung and leaders of the dominant political grouping ignored public calls to apologize for past political mistakes.

Megawati faces huge challenges

Megawati faces huge challenges By Aleksius Jemadu BANDUNG (JP): As a political reformist and candidate for national leader, Megawati Soekarnoputri has some advantages that others are lacking. First, she is widely accepted as a living symbol of justified resistance against Soeharto's authoritarian regime. President Habibie's insistence in rejecting Megawati's faction of the Indonesian Democratic Party (or PDI Perjuangan) only strengthened her position.

Soeharto sons' Bali businesses probed

Soeharto sons' Bali businesses probed DENPASAR, Bali (JP): The family of former president Soeharto owns hundreds of hectares of land in Bali and also controls companies mainly involved in the tourism sector, an official at Bali's prosecutor office said last week.

Japanese businessmen here to seek out local products

Japanese businessmen here to seek out local products JP/afs JAKARTA (JP): A delegation of 20 Japanese manufacturers, wholesalers, retailers and importers started a three-day mission here on Tuesday to import more Indonesian products. Members of the delegation, led by the vice president of the "Do It Yourself" (DIY) Industry Association, Toyoji Miyakawa (photo above, left), are to shop at the 1998 Indonesian Export Products Exhibition at the Jakarta Fairground.

Turning personal cult mood into democracy

Turning personal cult mood into democracy By Mochtar Buchori DENPASAR (JP); Why have people joined Megawati's faction of the Indonesian Democratic Party (PDI Perjuangan)? Is it because they worship Megawati, or because they are committed to democracy? Isn't it dangerous if people join PDI Perjuangan because they worship Megawati?

Crisis means tight competition for rice scavengers

Crisis means tight competition for rice scavengers By Agus Martono PURWOKERTO, Banyumas (JP): Sweat pours down the wrinkled face of the 72-year-old Wasem. Despite the heat of the noonday sun on the paddy field, she persists in sorting the leftover dried rice stalks from a recent harvest. She continues working with her own hand-made tools, making sure that there is not a single grain of rice, that could be collected from the stalks, remaining.

SIA eyes China Airlines

SIA eyes China Airlines SINGAPORE (DPA): Singapore Airlines (SIA) is eying a 25-per- cent stake in Taiwan's China Airlines, a news report said Tuesday. "We consider China Airlines as a good investment," Singapore's Straits Times newspaper quoted SIA chief executive officer Cheong Choong Kong as saying. SIA was also looking at "a small airline in the Philippines", Cheong said.

IPTN workers go on strike

IPTN workers go on strike BANDUNG, West Java (JP): Hundreds of employees of aircraft manufacturer PT Industri Pesawat Terbang Nusantara (IPTN) staged a strike on Tuesday following what they said was the delayed payment of their pension savings. They said the savings were needed to supplement their salaries. Other employees worked as usual while their colleagues demonstrated outside the management building.

Confusing traffic signs

Confusing traffic signs From Neraca Motorists coming from the south and heading to Kota mostly pass the Harmoni area where Jl. Majapahit, Jl. Veteran and Jl. Suryopranoto converge into Jl. Gajah Mada. At those crossroads there are at least five traffic lights. The traffic lights for Jl. Majapahit are located in nearly the same direction as those for the traffic coming from Jl. Veteran. The vehicles coming from Jl. Veteran get their turn before those on Jl. Majapahit.

The Jakarta Post survey

The Jakarta Post survey The Jakarta Post is launching a new regular column called The Nation's Pulse on the results of surveys on contentious issues. The opinion polls, jointly commissioned by the Post and its sister publication D&R news magazine, are conducted by the Resource Productivity Center. The first survey asks people what they think of the latest Armed Forces' warning of a communist comeback. -- The Editor

Foreign banks loaned over Rp 72t to listed firms

Foreign banks loaned over Rp 72t to listed firms JAKARTA (JP): Foreign bank finance channeled into the country's publicly listed companies totaled more than Rp 72 trillion, including US$15.41 billion in foreign exchange as of December, last year, according to the Indonesian Business Data Center (PDBI). PDBI said on Tuesday that the loans were channeled by 175 foreign banks and financial firms, including those operating in the country.

Governor being deprived of malfeasance reports

Governor being deprived of malfeasance reports JAKARTA (JP): Governor Sutiyoso regretted on Monday the reluctance of many of his subordinates to report malfeasance cases in their offices to him. "I am a bit surprised that you (reporters) frequently ask me about various bad things taking place in the city administration, while from my subordinates I don't receive any reports at all," he said.

CIDES laments revival of sectarian politics

CIDES laments revival of sectarian politics JAKARTA (JP): Scholars from the Center for Information and Development Studies (CIDES) regretted what they believed was a reemergence of sectarian politics, as evident in the burgeoning of religious-based parties, because very often their mode of power struggle contravened peaceful and intellectual ways.

Governor Sutiyoso leaves for Europe

Governor Sutiyoso leaves for Europe JAKARTA (JP): Governor Sutiyoso left Jakarta on Monday night for Turkey and Europe in a bid to strengthen the sister city cooperation program with Jakarta, city administration's spokesman Kamaludin Santos said on Tuesday. During his two-week trip Sutiyoso is scheduled to attend several meetings, including signing a letter of intent on trade, tourism and art and culture in Istanbul, Turkey; paying a courtesy call to Rotterdam Mayor H.J.

PAL to fly overseas on Oct. 29

PAL to fly overseas on Oct. 29 MANILA (Bloomberg): Philippine Airlines Inc. said it will resume international flights on Oct. 29, more than a month after financial problems forced a halt in service to foreign cities. Asia's oldest commercial airline had delayed restoring international flights to give potential investors a chance to finish their evaluations of the carrier. Cathay Pacific Airways Ltd.

Rupiah and local stocks inch higher

Rupiah and local stocks inch higher JAKARTA (JP): The rupiah escaped the fallout from the sliding yen and managed to inch higher on Tuesday as stock prices rebounded slightly, currency dealers and stockbrokers said. Currency dealers attributed the rupiah's continued recovery to dollar selling by domestic state banks and market talk of a possible further U.S. interest rate cut by another 0.25 percentage basis points in the coming weeks.

KL to employ more migrants

KL to employ more migrants KUALA LUMPUR (DPA): Malaysia will take in 120,000 more foreign workers, mostly Indonesians and Thais, to meet a labor shortage in the construction, plantation and manufacturing sectors, reports said on Tuesday. The government -- which is in the middle of a campaign to deport illegal foreign workers -- last week approved applications by employers to bring in 120,000 more foreign workers over the next few months, following a recent intake of 70,000 foreign workers.

TV today

TV today TVRI 2:00 p.m. News: Berita 14 2:30 Music 2:35 Children's Film: Thunder Cats 3:05 TV Series: Daktari 4:00 Regional News 4:30 Teen Program: Remaja Indonesia 5:00 TV Drama: Liga Pelajar 5:30 Education Quiz: Cepat Tepat 6:00 News: Lintasan Berita 6:05 Documentary: Rona Nusantara 6:15 Sports 6:30 TVRI News (in English) 7:00 Evening News 7:35 TV Drama: Teori 8:00 News: Lintasan Berita 8:05 Family's Program: Kesejahteraan Keluarga 8:30 News: Laporan Peristiwa 9:00 World News 9:30 TV Drama:...

Japan to help Malaysia, Thailand escape crisis

Japan to help Malaysia, Thailand escape crisis TOKYO (Agencies): Malaysia and Thailand, each rushing in opposite directions to escape Asia's financial storm, both secured promises Tuesday for Japanese support. Malaysian Prime Minister Mahathir Mohamad has spent five days in Japan decrying free markets and the International Monetary Fund, while seeking some of the US$30 billion Tokyo has promised Asia.

Estrada seeks Saudi clemency

Estrada seeks Saudi clemency MANILA (DPA): Philippine President Joseph Estrada appealed on Tuesday to Saudi Arabia's King Fahad Bin Abdulaziz Al-Saud to spare the lives of four Filipinos convicted of robbery and homicide in Jeddah "on humanitarian grounds". The four, identified as Amdan Akdar, Edwin Gamab, Abdulrahman Zainuddin and Mario Cruzado, were among a group of seven involved in an attack in which an Indian national died.

Driver sent to jail for stealing garments

Driver sent to jail for stealing garments JAKARTA (JP): A container truck driver was sentenced by North Jakarta District Court on Tuesday to three years in jail for stealing and selling garments worth Rp 700 million (US$87,500). Presiding judge Salmen Purba said defendant Hartoyo, 33, an employee of PT Tunas Marsima Transport, was ordered by his employer to transport the garments -- that belonged to private firm PT Horindo Tama Mandiri -- to a warehouse in Cakung, North Jakarta on July 24.

Marijuana dealer gets four years

Marijuana dealer gets four years JAKARTA (JP): The North Jakarta District Court sentenced a 33- year-old man to four years in jail on Tuesday for selling two kilograms of dried marijuana. Presiding judge Azinar Abas said the defendant, Zulkifli Yusuf, was arrested on May 3 in the Kalijodo red-light district in North Jakarta. "City police officers arrested the defendant when he tried to sell the marijuana to a buyer named Rizal," Abas told the court.