Indonesian Political, Business & Finance News

Archive: 27 October 1998

50 articles found

Hoyer-Larsen profits from stars' no-show

Hoyer-Larsen profits from stars' no-show JAKARTA (JP): The 1996 Olympic men's singles gold medalist, Poul-Erik Hoyer-Larsen of Denmark, said on Monday he was disappointed by the long list of absentees at the Indonesia Badminton Open this week. But Hoyer-Larsen, at 33 the oldest competitor in the US$120,000 event, is putting a positive spin on the shortage of stars, saying it will clear his way to the title. "I am sorry that the Chinese and South Korean shuttlers will be missing.

Conversion Rates

Conversion Rates Bank Bali's conversion rates on Oct. 26, 1998: TT rates Bank notes rates Buying Selling Buying Selling Rp Rp Rp Rp U.S.

Indonesian pulp industry not hurt by rupiah gains

Indonesian pulp industry not hurt by rupiah gains SINGAPORE (Dow Jones): Indonesia's pulp and paper producers aren't expected to be adversely affected by the strengthening rupiah against the U.S. dollar, Muhammad Mansur, chairman of the Indonesian Pulp and Paper Association, said late on Sunday. While a stronger rupiah will no doubt erode export income, producers will find relief in servicing outstanding loans, he said.

Pasar Anyar traders ask for clarification

Pasar Anyar traders ask for clarification BOGOR (JP): Dozens of the 200 kiosk owners at Pasar Anyar market here visited the Bogor Mayoralty office on Monday to seek clarification of plans to renovate their shops. The group's spokeswoman Erawati said the kiosks, which were destroyed in a March 28, 1996 fire, were supposed to have been renovated according to recommendations submitted by an expert team from the Ministry of Public Works.

Tangerang mobs kill five thieves

Tangerang mobs kill five thieves JAKARTA (JP): Five men believed to be notorious thieves specializing in stealing motorcycles in Tangerang were beaten to death by angry residents in three different incidents in the early hours of Sunday. Tangerang Police chief Lt. Col. Pudji Hartanto Iskandar confirmed the cases but did not reveal whether the police had arrested any of the locals.

Chinese-Indonesian 'power' myths blasted

Chinese-Indonesian 'power' myths blasted JAKARTA (JP): Observers blasted on Monday myths about Chinese- Indonesians as a creation of corrupt government officials to serve their interests and drive a wedge between the ethnic group and the rest of the population.

RI's garment exports drop

RI's garment exports drop JAKARTA (JP): Indonesia's garment exports to the Netherlands dropped by 11 percent to US$68.19 million during the first five months of this year from $76.74 million in the same period of last year. Antara reported from The Hague on Monday that Indonesia's monthly garment exports to that country rose from $16.76 million in January 1998 to $20.78 million in February, but then slumped to $14.13 million in March, $10.03 million in April and $6.49 million in May.

Habibie 'satisfied' with Saefuddin

Habibie 'satisfied' with Saefuddin JAKARTA (JP): President B.J. Habibie has refused to bow to mounting pressure that he dismiss State Minister of Food and Horticulture A.M. Saefuddin over the latter's offensive remarks about Hinduism, a minister indicated on Monday. Minister/State Secretary Akbar Tandjung said the President had told him that he did not have any plans to reshuffle the cabinet despite Balinese demands that he replace Saefuddin.

Wiranto vows to finish Trisakti killing probe

Wiranto vows to finish Trisakti killing probe JAKARTA (JP): Minister of Defense and Security/Armed Forces Commander Gen. Wiranto pledged on Monday that the military investigation into the May 12 shootings during which four Trisakti University students were killed would be completed. The students were shot on following a peaceful rally.

Kopassus 'not E. Java killers'

Kopassus 'not E. Java killers' JAKARTA (JP): The Armed Forces (ABRI) denied on Monday the involvement of members of the Army's Special Force (Kopassus) in mysterious killings in East Java which have claimed more than 150 lives, mostly black magic practitioners and Islamic teachers. "It is not true.

40 convicts escape Aceh jail

40 convicts escape Aceh jail LHOKSEUMAWE, Aceh: At least 40 convicts escaped on Sunday from the Bireuen jail in North Aceh following a riot, Antara reported Monday. "We have not discovered precisely how the riot around noon happened," said an official, Marzuki. Located 60 kilometers from the regency's capital of Lhokseumawe, the jail houses 80 inmates. Marzuki said two political prisoners, identified as Tgk. Affan and Tgk. Ismail, were among the escapees.

Villagers irked by rice 'vote-getter'

Villagers irked by rice 'vote-getter' PURWOKERTO, Central Java (JP): Fears of money politics were evident on Sunday as hundreds protested alleged efforts to buy votes through the distribution of food. Patikraja villagers of Patikraja district in Banyumas demonstrated at the district office the election of Radis as new subdistrict head. "I protest because Radis bribed some villagers with nasi rames (wrapped rice with side dishes)," a protester, Sumanto, 45, said. District head Bambang S.

Rates for Tax Payment

Rates for Tax Payment Conversion rates for tax payments, valid from Oct. 26 to Nov. 1: U.S.

Small is beautiful

Small is beautiful Credits appear to have become available at almost bargain rates for small and medium-scale businesses lately. Last Friday, for example, the government launched 14 new credit schemes for these two particular business sectors. The government obviously has its reasons for "spoiling" small and medium-scale businesses. This policy, however, should be taken to mean that the government is disallowing big business conglomerations.

Three businessmen taken to court over unsettled debts

Three businessmen taken to court over unsettled debts JAKARTA (JP): Suits have been filed against three businessmen before the Jakarta Commercial Court in disputes over unsettled debts totaling Rp 15.17 billion (US$1.9 million). PT Profilindo Indratama Finance filed last week a bankruptcy claim against businessman Purnomo Onggowarsito for not repaying Rp 13.17 billion to the finance firm, court data said.

School of corruption

School of corruption Given the extent and depth of corruption in Indonesia and its recognition as the world's most corrupt country, I believe it would be appropriate to establish a new scientific discipline called "The science of corruption ala Indonesia." Expert scholars (indigenous or foreign) should study in depth the causes, motives, methods, whereabouts of ill-gotten wealth and responsible parties. This will hopefully discourage people from acting in a corrupt manner.

Malaysia's reserves rise

Malaysia's reserves rise KUALA LUMPUR (Bloomberg): Malaysia's central bank said on Monday that the country's foreign exchange reserves rose 5.5 percent to $22.64 billion as of Oct. 15, compared with two weeks earlier. In local currency terms, foreign reserves jumped to 109.74 billion ringgit from 81.5 billion ringgit two weeks earlier, the central bank said. The rise in foreign exchange reserves come after Malaysia imposed capital controls on Sept.

Krakatau Steel delays privatization schedule

Krakatau Steel delays privatization schedule JAKARTA (JP): The state-owned steel manufacturer PT Krakatau Steel announced on Monday that plans for its privatization have been delayed until the year 2000 due to weak international steel prices. Company president Sutrisno said international steel prices had plunged to a record low of US$200 per ton from between $310-$370 per ton early last year due to weak demand in the wake of declining global economic growth.

Rupiah and peso strengthen sharply against U.S. dollar

Rupiah and peso strengthen sharply against U.S. dollar SINGAPORE (Dow Jones): The rupiah and the Philippine peso strengthened sharply against the U.S. dollar during Asian trading hours on Monday, providing the only bright spots in an otherwise dull session for regional foreign exchange markets.

Utut in narrow defeat at France chess c'ship

Utut in narrow defeat at France chess c'ship JAKARTA (JP): Utut Adianto wasted a golden opportunity to upset world number five and top seed Vassily Ivanchuk of Ukraine at the Intercontinental Rapid Chess tournament in Cap d'Agde, France, on Sunday. The game hung in the balance until Utut blundered on the 37th move, allowing Ivanchuk to bounce back and emerge the winner on better possessions. "I should have moved my castle to e8 rather than moving the knight to f6.

Officials in WB-financed projects fired

Officials in WB-financed projects fired JAKARTA (JP): Minister of Education and Culture Juwono Sudarsono said 20 high-ranking education officials had been removed from their positions for alleged involvement in malfeasance in some World Bank-funded school textbook projects. Addressing reporters after attending the opening session of the Indonesian language congress here on Monday, Juwono said his office had submitted reports about the case to the World Bank.

Mikola fifth in Formula 3

Mikola fifth in Formula 3 JAKARTA (JP): Indonesia's Ananda Mikola shrugged off a hand injury to roar his way to a second straight podium finish in the final round of the Italian Formula Three racing championship at Magione circuit on Sunday. Starting from fourth place on the grid, the 19-year-old driver clocked 45mins 38.975secs to finish third in the race won by home favorite Donny Crevel. The victory on Sunday earned Crevel the championship title.

City company sets out its story in land scandal

City company sets out its story in land scandal JAKARTA (JP): City-owned property development company PD Pembangunan Sarana Jaya (PSJ) spoke out on Monday to defend itself amid the growing storm surrounding a fraud allegedly perpetrated in association with the acquisition of 124.8 hectares of land in Bogor. The city administration paid Rp 12.6 billion (US$1.57 million) for the land between 1994 and 1995.

BA award for Togean

BA award for Togean JAKARTA (JP): The Togean Ecotourism Network in Central Sulawesi has been distinguished in the 1998 British Airways Tourism for Tomorrow Awards, global honors which recognize an environmentally and culturally sensitive approach to tourism. British Airways (BA) said in a statement on Monday that the Togean Ecotourism Network was "highly commended" for the Pacific region against more than 120 projects from 43 countries.

Students to get tetanus vaccinations

Students to get tetanus vaccinations JAKARTA (JP): The city administration will give tetanus vaccinations to about one million students of elementary schools throughout the city next month, an official said on Monday. Kamaludin S., spokesman for the administration, said in a statement that the free-of-charge vaccination service would be part of the national campaign to eradicate tetanus. "The campaign is intended mainly for students of both state, and Moslem and other private schools.

Garuda may halt tariff hike plan

Garuda may halt tariff hike plan JAKARTA (JP): National flagship carrier Garuda Indonesia said Monday it would maintain its airfares for domestic routes at the current level if the rupiah's value continues to strengthen against the U.S. dollar. The airline's president, Robby Djohan, said Garuda would not have to raise the domestic flight rates in December as planned earlier this year, if the rupiah continued to stay at the current level of between Rp 7,000 and Rp 8,000 to the U.S. greenback.

Stock Exchange

Stock Exchange Stock prices on the Jakarta Stock Exchange (in rupiah) on Oct. 26, 1998: Shares Close Change Trading Volume -------------------------------------------------------------- Ades Alfindo 275 0 0 AHAP Insurance 400 0 0 Alter Abadi 250 0 58,500 Alumindo Light Metal 250 0 0 Alumindo Perkasa 125 0 0 Aneka Kimia Raya 150 0 3,000 Aneka Tambang 1,425 0 5,963,000 Anwar Sierad 100 0 0 Apac Centertex Corp.

Asia financial sector bottoming out: ADB Institute

Asia financial sector bottoming out: ADB Institute TOKYO (Reuters): Asia's financial sector appears to have hit bottom, but it will take time before the real economies in the region start to recover, Jesus Estanislao, Dean of the Asian Development Bank (ADB) Institute in Tokyo, said on Monday. "The bottom has been reached and there might be a beginning of getting out of the crisis in the financial sector.

Govt prepares new geothermal rules

Govt prepares new geothermal rules JAKARTA (JP): The government is preparing a new regulation to boost the development of geothermal resources and lower geothermal power prices, according to Minister of Mines and Energy Kuntoro Mangkusubroto. Kuntoro announced on Friday that under the planned presidential decree, all geothermal power projects would be competitively tendered in order to create fair power prices.

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: Pentas Bintang 10:20 Late...

EU holds forest data seminar

EU holds forest data seminar JAKARTA (JP): The European Union's Forest Inventory and Monitoring Project (FIMP-EU), in cooperation with the Ministry of Forestry and Plantations' Directorate General of Inventory and Forest Land Use, is holding a four-day conference on data management using remote sensing and Geographical Information Systems (GIS) for tropical forest land inventories.

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. Performance * Drama: Konser Waktu, by Studi Klub Teater Bandung, at Gedung Kesenian Rumentang Siang, Jl. Baranang Siang 1, Kosambi (Phone: 022 433562), 8 p.m. to 11 p.m., Oct. 31 and Nov. 1.

Malaysian business unaffected by protests

Malaysian business unaffected by protests KUALA LUMPUR (Reuters): Political protests in Malaysia have not affected business confidence and the government sees no problems financing a growing budget deficit next year, Second Finance Minister Mustapa Mohamad said on Monday. "There's calm in the country, there's not been any effect on business confidence," Mustapa said in an interview with Reuters Television. "Kuala Lumpur continues to remain to be a very peaceful city.

RI must reorient skills education

RI must reorient skills education By Hendra Gunawan BANDUNG (JP): Minister of Education and Culture Juwono Sudarsono stated some time ago that eight basic skills need to be enhanced at all levels of the education system. The eight skills are reading, writing, listening, speaking, computing, observing, imagining and comprehending (Kompas, Aug. 24, 1998). There is no doubt that these skills are necessary for everyone, regardless of their profession, to survive in this modern era.

Women told to report domestic violence

Women told to report domestic violence JAKARTA (JP): Women are being urged to report domestic violence to legal aid offices and crisis centers nearest to them in a bid to campaign for state protection against domestic violence.

Government overreaction

Government overreaction From Neraca The Alliance of Independent Journalists (AJI) reproaches the government for its hypersensitivity and overreaction in responding to a statement made by Prof Dr. Jeffrey Winters. President Habibie's statement that Jeffrey Winters should be subjected to legal action and an entry ban for insulting the Indonesian government has once again shown the low credibility of Habibie's administration.

A quiz for Habibie

A quiz for Habibie Before he was appointed State Minister of Food and Horticulture five months ago, A.M. Saefuddin was known as a humorous professor of agriculture who laid claim to proficiency in a number of languages. However finding anything to laugh about amidst the national outcry caused by insulting remarks which he directed toward the nation's Hindu community may be difficult for the jovial professor.

Real owners of natural resources

Real owners of natural resources I found the Oct. 21 editorial about PT Freeport's contract upsetting. How can you editors of The Jakarta Post say what you did in the ninth paragraph: "...the local tribes (of Irian Jaya)...

Opposition urges snap poll to end Malaysian crisis

Opposition urges snap poll to end Malaysian crisis KUALA LUMPUR (Agencies): Malaysia's opposition leader urged Prime Minister Mahathir Mohamad on Monday to call a snap election to help resolve the nation's worsening political crisis. Democratic Action Party (DAP) leader Lim Kit Siang said the crisis, worsened by the sacking and detention of finance minister Anwar Ibrahim, could derail Malaysia's efforts to put its recession-hit economy back on track.

Govt to retake 3,100-ha plot from Soeharto son

Govt to retake 3,100-ha plot from Soeharto son JAKARTA (JP): A 3,100-hectare forestry area in a huge township project near Bogor controlled by the second eldest son of former president Soeharto will revert to the Ministry of Forestry and Plantations, a forestry official said on Monday.

Malaysia says it still needs 160,000 Indonesian workers

Malaysia says it still needs 160,000 Indonesian workers JAKARTA (JP): Despite the involvement of Indonesians in a recent antigovernment protest in Kuala Lumpur, Malaysia still needs more than 160,000 Indonesian workers for its plantations and palm oil refineries, an official said here on Monday.

National swimmers fail to meet required times

National swimmers fail to meet required times JAKARTA (JP): National swimmers being groomed for the 13th Asian Games in December lived up to their status as the continent's decided outsiders when they fell short of qualifying times at the 20th National Interclub Championships on Monday. A sluggish Felix C. Sutanto exceeded the one minute mark in the men's 100-meter freestyle.

Rupiah stays in 7,000 territory to U.S. dollar

Rupiah stays in 7,000 territory to U.S. dollar JAKARTA (JP): The rupiah rallied on Monday afternoon to stay within the 7,000 territory to the U.S. dollar after falling to below Rp 8,000 in early trading. Currency dealers attributed the surge to heavy dollar selling by local and offshore players, who dumped their dollars for rupiah on a local newspaper rumor that the government would reintroduce the intervention band to limit currency fluctuations.

Military must not get involved in business: Observer

Military must not get involved in business: Observer JAKARTA (JP): Experts say Armed Forces' (ABRI) major ventures in business had not only violated the law but also damaged market mechanisms. Indria Samego, a military observer and researcher at the Indonesian Institute of Sciences (LIPI), said that ABRI as a state institution was not allowed to do business and the fact that it had reigned in business over the last three decades had damaged market mechanisms in the national economy.

Conspiracy or nation building

Conspiracy or nation building I would like to add a few words to the comments "Two-way conspiracy" by Hafiansyah Mege in your paper on Oct. 20, 1998 which was in response to Rahayu's two-part article published on Oct. 8 and Oct. 9. Seeing the strategic and porous archipelagic geography, one does not, I think, have to hold a Ph.D to comprehend that dozens of races or more left their footprints on this archipelago, as did all the world's great religions.

New mass media bill seen as superflous in reform era

New mass media bill seen as superflous in reform era By Stevie Emilia JAKARTA (JP): Since the strongman Soeharto fell from grace in May, Indonesia's mass media have enjoyed unprecedented freedom in line with the vigorous demands for political reform. Adding to the buoyant mood, Minister of Information Muhammad Yunus lifted a 1984 ruling that gave the government the right to revoke press publications' licenses.

Teacher's killer nabbed in Cirebon

Teacher's killer nabbed in Cirebon JAKARTA (JP): After two weeks of searching, city police finally apprehended the alleged mastermind of killing and robbing, a 42-year-old teacher in Tebet, South Jakarta, following the arrest of his accomplice last week. Agus Budiman Said, 23, was arrested by a group of awaiting Jakarta Police detectives at Akita hotel in Cirebon, West Java early Sunday, said city police spokesman Lt. Col. Edward Aritonang.

Habibie tells officials to say it like it is

Habibie tells officials to say it like it is JAKARTA (JP): President B.J. Habibie told officials on Monday to stop sugarcoating unpleasant facts with euphemisms and to start speaking bluntly. Opening the 7th congress of the Indonesian language at the State Palace, Habibie regretted that many government officials eschewed forthright disclosure of information to the public and resorted instead to vague terms to gloss over adverse situations.

Housing developer fiasco upsets teachers

Housing developer fiasco upsets teachers JAKARTA (JP): At least 20 teachers complained at the Jakarta Legal Aid Institute's office on Monday about a private developer's alleged failure to build houses they bought on an installment basis. The teachers' spokesman, Darminto Surapati, said they demanded that PT Bumi Mutiara Utama, the developer, return their down payments of Rp 3 million (US$400) and Rp 4 million.

Budiono warns against overconfidence

Budiono warns against overconfidence JAKARTA (JP): Chairman of the National Development Planning Board (Bappenas) Budiono warned on Monday that signs of quicker than expected economic recovery should not be cause for an undue sense of complacency. He stressed the government would remain cautious in its fiscal and monetary policy, including the issue of lowering interest rates. The considerable strengthening of the rupiah against the U.S.