Indonesian Political, Business & Finance News

Archive: 23 October 1998

60 articles found

Malaysian threat clouds INRO meet

Malaysian threat clouds INRO meet KUALA LUMPUR (Reuters): The International Natural Rubber Organization (INRO) on Thursday began a crucial meeting of its policy-making council, with Malaysia's threat to resign from the group dominating worries, officials said. Delegates at the two-day council meeting were also pondering whether to amend INRO's intervention policy and establish new levels for its entry into the market to please producers such as Thailand and Malaysia, said the officials.

Stock Exchange

Stock Exchange Stock prices on the Jakarta Stock Exchange (in rupiah) on Oct.22, 1998: Shares Close Change Trading Volume -------------------------------------------------------------- Ades Alfindo 275 0 0 AHAP Insurance 400 0 0 Alter Abadi 275 0 875,000 Alumindo Light Metal 250 -25 100,000 Alumindo Perkasa 125 -50 500 Aneka Kimia Raya 150 0 48,000 Aneka Tambang 1,450 0 3,942,000 Anwar Sierad 100 0 10,000 Apac Centertex Corp.

Habibie instructs ABRI to be firm against killers

Habibie instructs ABRI to be firm against killers JAKARTA (JP): President B.J. Habibie said on Thursday that he had instructed the Armed Forces (ABRI) to completely crack down on the perpetrators of the mysterious killing spree that began in East Java and spread to other places. In response to a claim by the Islamic organization Matlaul Anwar, the President maintained the murders were purely criminal acts and did not have any political motive.

Exporting corruption?

Exporting corruption? This is a follow-up to an article which appeared in the Sept. 19 edition of The Jakarta Post, which was itself a follow-up to an earlier complaint of corruption against an immigration official in Medan. Although there had been earlier complaints about this official, there was no official response until June 1998, when the Post published an article from me referring to immigration corruption.

Soeharto not invited to MPR special session

Soeharto not invited to MPR special session JAKARTA (JP): Former president Soeharto will not be invited to the attend the special session of the People Consultative Assembly (MPR) scheduled for Nov. 10 to Nov. 13, an official told a media briefing on Thursday. "We're only inviting the representatives and, of course, the current president (B.J.

Cash-strapped RP trims athletic team

Cash-strapped RP trims athletic team MANILA (DPA): The Philippines, hard-hit by the regional economic crisis, has cut back the number of athletes it will send to the 13th Asian Games in Thailand later this year. The cash-strapped Philippine Sports Commission (PSC) Thursday praised the Amateur Track and Field Association for its decision to reduce its 7-member team to one athlete, "long jump queen" Elma Muros-Posadas, for the Dec. 6 to 20 event in Bangkok.

No 'chickens' found yet in Soeharto probe: Ghalib

No 'chickens' found yet in Soeharto probe: Ghalib JAKARTA (JP): Attorney General Lt. Gen. Andi Muhammad Ghalib has compared the investigation of former president Soeharto's wealth to the investigation of a chicken theft where the police have to find strong evidence before they can make any arrests.

Indonesia's coffee exports fall 18.7%

Indonesia's coffee exports fall 18.7% JAKARTA (JP): Freak weather patterns are blamed for an 18.68 percent slump in the country's coffee export volume in the crop year ending September 1998. Coffee exports dropped to 309,000 metric tons worth US$550 million, compared to 380,000 tons of $675 million the previous crop year, data from the Association of Indonesian Coffee Exporters shows.

Public encouraged to file lawsuits against decrees

Public encouraged to file lawsuits against decrees JAKARTA (JP): The Supreme Court has encouraged the public to file lawsuits against presidential decrees which are considered to have been manipulated materially and legally to benefit certain parties, Antara news agency reported on Thursday. Supreme Court Chairman Sarwata said the public, especially those who have suffered because of the decrees, could fight for justice in the courts. "We are open to any lawsuits.

Risk-taking key to RI's recovery

Risk-taking key to RI's recovery By C.J. de Koning This is the first of two articles in a series on the Indonesian economic crisis. JAKARTA (JP): The good news is that the rupiah has strengthened dramatically over the last few weeks. It has not yet reached the 5,000-6,000 range to the U.S dollar, which on basis of real sector competitiveness in the world it should and could reach, but this level is coming closer and closer by the day.

Rupiah falls on minister's comment

Rupiah falls on minister's comment JAKARTA (JP): After rallying persistently since the beginning of the month, the rupiah slid back to close at 7,800 against the U.S. dollar on Thursday as the market punished a senior Cabinet minister for commenting that the rupiah should not appreciate too rapidly.

WB denies tampering with RI poverty figures

WB denies tampering with RI poverty figures NEW YORK (Dow Jones): World Bank officials Tuesday hit back at charges they manipulated figures on the number of poor in Indonesia to avoid embarrassing the Soeharto regime before its fall last May. The charges, previously reported in the Wall Street Journal, have been voiced among others by Jeffrey Winters, a former consultant to the U.S. Agency for International Development now at Northwestern University.

Kite festival down in W. Java

Kite festival down in W. Java BANDUNG (JP): The Pangandaran International Kite Festival, to be held on Pangandaran beach in Ciamis on Saturday and Sunday, has received only six confirmations from the 20 invited countries. Titien Soekarya, the head of the local office of the Ministry of Tourism, Arts and Culture, said on Tuesday that 36 people from 13 countries participated in the 1997 event. She said the decline might be due to security fears.

Companies nearing agreement on $10b debt restructuring

Companies nearing agreement on $10b debt restructuring JAKARTA (JP): More than a dozen companies with nearly US$10 billion in overseas debts are moving ahead with plans to reach a restructuring agreement with their creditors under the auspices of the Jakarta Initiative Corporate Restructuring Task Force, according to a key government official.

Southeast Asian currencies slip back as rupiah falls

Southeast Asian currencies slip back as rupiah falls SINGAPORE (Dow Jones): Southeast Asian currencies mostly slipped against the U.S. dollar during Asian trading hours on Thursday, as the Indonesian rupiah surrendered the spectacular gain it made the previous day, The Singapore dollar, and the new Taiwan dollar also dropped, falling in response to an early rebound in the U.S. dollar against the yen and the Deutsche mark.

Infants suffer in Banyumas

Infants suffer in Banyumas PURWOKERTO, Central Java (JP): Nutritional deficiencies during pregnancy are jeopardizing the lives of newborns, the head of the Banyumas regency's health office said here on Wednesday. M. Iskandar Arifin told The Jakarta Post there were 300 infant mortalities in the first eight months of this year, compared to 467 throughout 1997. "The mortality rate has sharply increased due to the increase in the number of newborns with below average weight," Iskandar said.

Biggest sin of leaders

Biggest sin of leaders From Merdeka Observing Indonesia's political development and the problems now being faced by Indonesians, who are still very much under the control of Golkar, has thrown me into greater confusion. Since Soeharto was forced to give up his presidential seat in mid-May by a reform drive spearheaded by university students, a lot of demands have been addressed to the government led by President B.J.

House passes new freedom of expression bill

House passes new freedom of expression bill JAKARTA (JP): The House of Representatives endorsed on Thursday the controversial freedom of expression bill for President B.J. Habibie to sign into law, saying they were satisfied with the "democratic" way the document was deliberated. Observers, however, remained unsatisfied, The 385 legislators attending Thursday's plenary session presided over by Deputy House Speaker Lt. Gen.

Police asked to resubmit graft case against Zawawi

Police asked to resubmit graft case against Zawawi JAKARTA (JP): City police are to requestion Ahmad Zawawi after the prosecutor's office returned dossiers on a case accusing the former head of the city's logistics agency of corruption. Speaking to the media on Thursday, Jakarta Police chief Maj. Gen. Noegroho Djajoesman said the case would be refocused on specific charges at the behest of prosecutors.

'RRI' to air business forum

'RRI' to air business forum JAKARTA (JP): PT Harvest International Indonesia and the state-run radio network Radio Republic Indonesia (RRI) will jointly stage an interactive business forum beginning next week. Company president Harvey Goldstein said on Thursday that the program would provide opportunities for foreign investors in Indonesia to engage in frank dialog with Cabinet ministers and senior government officials.

Unocal seeks to avoid write-off of PLN debt

Unocal seeks to avoid write-off of PLN debt SINGAPORE (Bloomberg): Unocal Corp., the 10th largest U.S. oil company by market value, said it hopes to avoid any write-off of money owed by Indonesia's PT Perusahaan Listrik Umum Negara (PLN) from unpaid power supply contracts. Subsidiary Unocal Geothermal said in June the Indonesian utility owed the company about $47.4 million for March steam deliveries to the Gunung Salak power plant.

Fashion designer experiments with silk, fibers

Fashion designer experiments with silk, fibers By Agni Amorita JAKARTA (JP): It is very rare to find young Indonesians who are interested in traditional textiles. Yet Nelwan Anwar chose to major in textiles at the Jakarta Arts Institute. After graduating in 1979, Nelwan went on to further his studies in traditional textiles on various islands of the Indonesian archipelago.

Sigit's positive test shocks sports medic

Sigit's positive test shocks sports medic JAKARTA (JP): Sports medical expert Hario Tilarso was skeptical on Thursday over allegations top badminton player Sigit Budiarto tested positive for the banned anabolic steroid nandrolone. "It doesn't make sense.

'Revolusi Harapan' wins gold medal at Brno contest

'Revolusi Harapan' wins gold medal at Brno contest JAKARTA (JP): Nanang Istiabudi's short film Revolusi Harapan (Revolution of Hope) won a gold medal and a special prize at the 39th Brno 16 International Competition of Non-Commercial Feature Films and Video at Brno Cultural and Information Center in Czech.

Citra Muda enters Thailand Open

Citra Muda enters Thailand Open JAKARTA (JP): Jakarta-based Citra Muda club will represent Indonesia at the Thailand Open baseball championship in Bangkok from Oct. 25 to Oct. 30. Team manager Doedie Gambiro said on Thursday that five national players would form the backbone of his squad in its target to reach the final. Along with Indonesia and host Thailand, Singapore, Malaysia, the Philippines and Hong Kong have confirmed their participation.

Rupiah increase unlikely to spur debt repayment

Rupiah increase unlikely to spur debt repayment SINGAPORE (Reuters): The recent strengthening of the Indonesian rupiah against the U.S. dollar is still not enough to encourage corporate debtors to begin repaying debt obligations, analysts in Singapore said on Thursday. The rupiah hit an eight month high of 6,975 per dollar this week -- a 50 percent improvement from levels of over 11,000 just three weeks ago.

RI to compete in Putra Cup

RI to compete in Putra Cup JAKARTA (JP): Indonesia will be banking on its junior players at the 38th Putra Cup Asia Pacific amateur team golf tournament in St. Elena, the Philippines, from Nov. 5 to Nov. 8. The Indonesian Golf Association has selected mainstays Denny Supriadi, Sarmili, Suprapto and Jemin Saputra, who are expected to emulate the feats of their predecessors led by Sukamdi.

U.S. bans use of American weapons in East Timor

U.S. bans use of American weapons in East Timor WASHINGTON (Agencies): The United States on Wednesday banned the use in East Timor of weapons supplied to Indonesia and continued a ban on education and training aid to the Indonesian Armed Forces. President Bill Clinton signed the restrictions into law as part of a massive US$500 billion catch-all spending bill sent to him by Congress on Wednesday, which included U.S. foreign aid programs.

Probo named suspect in bank scam

Probo named suspect in bank scam JAKARTA (JP): Former president Soeharto's step brother Probosutedjo was named on Thursday as a suspect in the liquidated Bank Jakarta's credit scam, but he strongly protested his innocence and expressed confidence about escaping from the police allegation. "I didn't inflict any financial losses on my bank customers or even the government.

Habibie to help shipowners

Habibie to help shipowners JAKARTA (JP): President B.J. Habibie pledged on Thursday to review the IMF-prescribed value added tax on importing ships on the grounds that the vessels were of strategic importance. "It's possible that the value added tax policy will be removed," he told members of the Indonesian National Shipping Association (INSA) at their annual meeting.

Timah's profit up five-fold

Timah's profit up five-fold JAKARTA (JP): Publicly listed state-owned tin miner PT Tambang Timah reported on Thursday an almost five-fold increase in net profits to Rp 305.7 billion (US$40 million) during the first semester of this year from Rp 57.3 billion in the same period of last year. The company's operating profits surged to Rp 649.7 billion from Rp 70.2 billion. The soaring profits were boosted by the sharp depreciation of the rupiah against the U.S.

Rp 700 million for students

Rp 700 million for students JAKARTA (JP): The European business community here has collected at least Rp 700 million which will be donated to University of Indonesia students who have been financially affected by the economic crisis. Josef Fuchs, chairman of the organizing committee of the Student Support Festival, said the money was raised since mid September in seven charity events in Jakarta, Yogyakarta and Bali.

Rainfall this month still normal, says BMG

Rainfall this month still normal, says BMG JAKARTA (JP): Rainfall in the capital this month has been normal, but heavy rains might be recorded by the end of this year and reach a peak in January, according to an official. Meteorology and Geophysics Agency (BMG) spokesman Wa'antarmin said on Wednesday that rainfall since early October here marked the beginning of the annual rainy season.

'Indonesians join street protests'

'Indonesians join street protests' KUALA LUMPUR (Reuters): Prime Minister Mahathir Mohamad has accused foreigners, including Indonesians, of involvement in anti-government protests in Malaysia. Foreigners wanted to see the protesters overthrow the government so that Malaysia would open itself up to the international economy, and ask for aid from the International Monetary Fund (IMF), local newspapers quoted Mahathir as saying.

Cirebon batik fashion show held

Cirebon batik fashion show held JAKARTA (JP): A fashion show featuring modern and traditional gowns embellished with Cirebon batik motifs was staged at Pasaraya shopping center in Blok M, South Jakarta, on Thursday. The show was staged as part of the shopping center's one-month Java Festival and displayed the collection of batik designer Suharti Syarief Wiraniti.

Ita's death and terrorism

Ita's death and terrorism From Republika The statements made by the team of volunteers on mass rapes in the May riots have created problems for themselves. Until now the proof to support these accusations has not been obtained. Studies by independent teams, including those from abroad, have indicated a far smaller number -- if not zero -- of cases than that stated by the team. Meanwhile the community has become critical of the team's statements.

BA, Qantas have joint manager

BA, Qantas have joint manager JAKARTA (JP): British Airways and Qantas of Australia announced on Thursday the appointment of Claire Hatton as their Indonesia joint manager. They said in a joint statement that Hatton, currently British Airways' Indonesia manager, would take up the new position on Dec. 1. She will succeed Rick Coyle who in mid-December is due to return to the Qantas corporate office in Sydney.

Double standard attitude?

Double standard attitude? One of the headlines in The Jakarta Post dated Oct. 16, 1998 was Winters banned from entering RI. As an ordinary citizen I was very ashamed of this. It's more proof that Indonesia is a country that is ruled by power of government rather than by law. What the Minister of Justice did was overreact. As a minister of justice, he was not supposed to judge Prof. Winters without trial. Why don't we invite Prof. Winters and Mr.

Conversion Rates

Conversion Rates JAKARTA (JP): Bank Bali's conversion rates on Oct. 22, 1998: TT rates Bank notes rates Buying Selling Buying Selling Rp Rp Rp Rp U.S.

NGOs submit their antimonopoly bill

NGOs submit their antimonopoly bill JAKARTA (JP): Three non-governmental organizations (NGOs) handed over their version of the antimonopoly bill to the House of Representatives on Thursday. Their draft, containing 10 chapters and 32 articles, was presented to the House's special committee preparing the long awaited antimonopoly bill.

RI to open up service sector earlier than planned: Bambang

RI to open up service sector earlier than planned: Bambang JAKARTA (JP): Minister of Finance Bambang Subianto said on Thursday the economic crisis necessitated that the country expedite the opening of its service sector, including for accounting firms. He said full adoption of the World Trade Organization agreement on free trade and service was a crucial part in fixing the shattered economy.

Discrimination still common: Sociologist

Discrimination still common: Sociologist JAKARTA (JP): A noted sociologist said on Wednesday that President B.J. Habibie's instruction outlawing discrimination had yet to prove to be effective considering the difficulty experienced by Chinese-Indonesians in dealing with the bureaucracy. In his Sept. 16 instruction, the President banned government agencies and officials from discriminating against citizens based on "tribal affiliations, religion, race and societal groups".

Petisi 50 calls for dissolution of 'arrogant' Golkar

Petisi 50 calls for dissolution of 'arrogant' Golkar JAKARTA (JP): The Petisi 50 group of government critics has lashed out at Golkar over the dominant political grouping's refusal to apologize to the nation for political mistakes made under Soeharto's New Order regime. "Golkar's refusal to apologize was not only a display of its arrogance, it also demonstrates its reluctance to carry out substantial changes," group leader Ali Sadikin said on Thursday.

Bankers urge quick use of Japanese aid

Bankers urge quick use of Japanese aid CHIANG MAI, Thailand (Reuters): Private bankers in Southeast Asia on Thursday urged regional governments to tap quickly Japan's $30 billion aid plan and to promote sound economic policies to help weather the region's financial crisis. "While we could choose to wait, a pro-active approach better serves our interests," said Banthoon Lamsam, chairman of the ASEAN Banking Council (ABC). "I urge ASEAN to formulate plans to expedite the disbursement of this fund.

Aetna committed to RI insurance market

Aetna committed to RI insurance market JAKARTA (JP): International insurance company Aetna International Inc. remains upbeat about its operations in Indonesia despite the nation's worst-ever crisis. Company president and CEO Frederick C. Copeland Jr. said on Thursday the rapid growth of the industry would continue this year even though the country was still beset by economic difficulties.

Top cement producers eye ASEAN stakes

Top cement producers eye ASEAN stakes HANOI (Reuters): Swiss cement maker Holderbank Financiere Glaruse Ltd said on Thursday big foreign cement makers are battling for position in key Southeast Asian markets and will play a significant role in the industry. But Urs Bieri, member of the executive committee of Holderbank, said the firm would steer clear of Indonesia for the moment because of political uncertainties there.

Foreign investors still wary of property sector

Foreign investors still wary of property sector JAKARTA (JP): Foreign investors have held off on big buys of properties of local debt-ridden developers because they find no signs of imminent economic recovery, property consultant First Pacific Davies said on Thursday. Company executive Jay Smith said that although local properties were priced relatively cheaply in U.S. dollar terms, cost was not the only concern for investors.

Riot probe team postpones presentation of findings

Riot probe team postpones presentation of findings JAKARTA (JP): The team investigating the May riots has postponed the disclosure of its findings scheduled for Friday, until next week due to "technical problems," it was announced on Thursday. Human rights campaigner Marzuki Darusman said the team members would still have to "finalize" their report before presenting it to the six ministers who signed the decree on the team's establishment in July.

Doctor's testimony needed to explain Sukarno's death

Doctor's testimony needed to explain Sukarno's death By R. Diah Imaningrum MALANG, East Java (JP): The cause of Sukarno's death has suddenly become an issue of heated public debate and suspicion after one of his widows, Ratnasari Dewi, alleged that the country's first president was murdered. Mahar Mardjono of the University of Indonesia -- a member of the medical team which treated Sukarno during his final illness in the late 1960s -- subsequently denied the accusation.

Gubernatorial picks named for Riau

Gubernatorial picks named for Riau PEKANBARU, Riau: Minister of Home Affairs Syarwan Hamid has named three gubernatorial candidates for Riau province, Antara reported on Thursday. The news agency quoted the provincial house speaker Darwis Rida Zainuddin as saying that the candidates were Firdaus Malik, Azaly Djohan and Brig.Gen. Saleh Djasit. Darwis said that the province planned to hold an election on Oct. 28.

Executive sex on the rise as monogamy loses its luster

Executive sex on the rise as monogamy loses its luster JAKARTA (JP): Promiscuity and extramarital affairs are on the rise among executives, the majority of them men, a sexologist believes, but sleeping with prostitutes is increasingly disdained. It presents a trend, not a moral issue, to the executives, Naek L. Tobing told a recent seminar organized by Bisnis Indonesia daily and Lions Club Jakarta. "Executives do this in a very discreet way," he said.

Corporate loan 'signals confidence'

Corporate loan 'signals confidence' JAKARTA (JP): The World Bank's private sector financing arm, International Finance Corporation (IFC), and Deutsche Investitions und Entwicklungsellschaft (DEG) agreed on Thursday to provide US$28 million worth of loans and equity capital to Indonesian video cassette producer PT Megaplast Jayacitra.

Where to go in Jakarta:

Where to go in Jakarta: Exhibitions * Batik Exhibition, at Gedung Departemen Perindustrian, Ground Floor, Jl. Gatot Subroto, 9 a.m. to 5 p.m., until Oct. 28. * Painting Exhibition: The Beauty of Watercolour, at Crowne Plaza Hotel, Jl. Gatot Subroto Kav. 2-3, South Jakarta (Phone: 5268833), 10 a.m. to 9 p.m., until Oct. 29. * Painting Exhibition by Carmen Santos, at the Embassy of Spain, Jl. H. Agus Salim, No. 61, Central Jakarta, until Oct. 31.

Furkon plans mass gatherings

Furkon plans mass gatherings JAKARTA (JP): A Moslem organization plans to hold mass gatherings in 50 subdistricts in Greater Jakarta on Sunday, the organization announced on Thursday. The chairman of the Moslem Forum of the Upholders of Justice and the Constitution (Furkon), Faisal Biki, said the event was aimed at strengthening Moslem's awareness of slander. "We notice that there are a number of slanderers who level their accusations at the Moslem community.

Typhoon Babs pummels RP

Typhoon Babs pummels RP MANILA (AFP): Typhoon Babs battered the Philippines on Thursday, killing seven people, sending 200,000 fleeing from its deadly path and leaving a trail of damage to worsen the country's economic gloom. Babs hit the eastern island of Catanduanes with its full fury packing gusts of up to 200 kilometers per hour before dawn and flattening "80 percent" of the island's buildings, House of Representatives member Leandro Verceles said over DZRH radio station.

Stronger rupiah will not hinder exports: Rahardi

Stronger rupiah will not hinder exports: Rahardi JAKARTA (JP): Minister of Industry and Trade Rahardi Ramelan dismissed on Thursday fears that the revitalized rupiah would adversely affect Indonesia's exports. He appealed to all parties not to worry about export performance following the sharp appreciation of the rupiah against the U.S. dollar in recent weeks. The notion that a stronger rupiah would inevitably lead to a decline in exports was purely theoretical, he said.

Astra to stop paying interest on foreign loans

Astra to stop paying interest on foreign loans SINGAPORE (Agencies): PT Astra International, parent company of one of Indonesia's biggest business groups, informed foreign bankers here Thursday that it has to stop paying interest on about US$1.4 billion in group loans, effective immediately.

Natuna gas pipeline tender criticized

Natuna gas pipeline tender criticized JAKARTA (JP): Legislator Priyo Budi Santoso blasted on Thursday alleged irregularities in the tender for the development of the US$1.5 billion gas pipeline between the western part of the Natuna islands and Singapore. The Golkar ruling party legislator said the tender requirements set by state oil and gas company Pertamina and its production sharing contractor only benefited giant companies such as McDermott of the United States and Italy's Saipem.

TV today

TV today TVRI 2:00 p.m. News: Berita 14 2:30 Music 2:35 Cartoon: Warner Kartun 3:05 Music Lessons: Ansamble Alat Musik Tiump 3:30 Village Program 4:00 Regional News 4:30 Performance: Cakrawala Budaya 5:00 Music: Paket 27 5:30 Educational Quiz: Cerdas Cermat 6:00 News: Lintasan Berita 6:05 Documentary: Rona Nusantara 6:15 Sports News 6:30 TVRI News (in English) 7:00 Evening News 7:35 Culture Program: Upacara Adat Suku Mori 8:00 News: Lintasan Berita 8:05 Culture Program: Upacara Adat Suku Mori...

Sjumandjaja: A director and social critic

Sjumandjaja: A director and social critic By Marselli Sumarno JAKARTA (JP): Film director Sjumandjaja died on July 19, 1985 at the age of 51. His death took everybody by surprise as just a few days before he died, he was still active in directing his latest film, Opera Jakarta. Sjuman -- that is how he was called -- left this world too soon. His talents enriched the Indonesian film industry with a certain level of quality.