Indonesian Political, Business & Finance News

Archive: 10 November 1998

56 articles found

Superstars embark on Super Tour

Superstars embark on Super Tour HONG KONG (Agencies): The golf superstars on the US$150,000 Johnnie Walker Super Tour are approaching top form as they prepare to tee-off in Johor Bahru, Malaysia on Tuesday for the first of four rounds in four different countries in only six days. Defending Johnnie Walker Super Tour champion Jesper Parnevik seems to be finding his best form after a recent finish in equal third position at the Tour Championship.

Media pushes for MPR decree on right to info

Media pushes for MPR decree on right to info JAKARTA (JP): Members of the media, bolstered by legislators and researchers, are campaigning to have the People's Consultative Assembly (MPR) issue a decree during its special session on the right to information and freedom of the press.

Rates for tax payment, valid from Nov. 9 to Nov. 15

Rates for tax payment, valid from Nov. 9 to Nov. 15 U.S. dollar 1 Rp 7,850.00 Austrian schilling 1 671.51 Australian dollar 1 4,896.83 Belgian franc 1 229.73 Canadian dollar 1 5,122.35 Swiss franc 1 5,746.71 Deutschemark 1 4,705.95 Danish krone 1 1,243.62 French franc 1 1,412.50 Poundsterling 1 13,019.23 Hong Kong dollar 1 1,013.69 Italian lira 100 477.50 Japanese yen 100 6,649.72 Malaysian ringgit 1 2,065.84 Dutch guilder 1 4,195.28 Norwegian krone 1 1,065.55 New Zealand dollar 1 4,158.93...

ABRI sociopolitical wing reorganized

ABRI sociopolitical wing reorganized JAKARTA (JP): The Armed Forces (ABRI) headquarters has announced a structural reorganization of its sociopolitical division, exactly one day ahead of the opening of the Special Session of the People's Consultative Assembly (MPR). Minister of Defense and Security/Armed Forces Commander Gen.

Adam Malik, 3 freedom fighters declared heroes

Adam Malik, 3 freedom fighters declared heroes JAKARTA (JP): President B.J. Habibie inaugurated on Monday the late Adam Malik, a former minister of foreign affairs and vice president, and three other independence fighters as national heroes in a ceremony to mark National Heroes Day.

TV today

TV today TVRI 6:00 a.m. Morning News 7:00 Music 7:30 News: Nuansa Reformasi 8:00 Music 8:15 Talk Show: Dialog 9:00 News Break 9:10 Music 10:00 Live reports: Sidang Istimewa MPR 12:00 p.m.

Public supports MPR meeting but ...

Public supports MPR meeting but ... On Tuesday, the People's Consultative Assembly (MPR) convenes to forge what President B.J. Habibie calls the nation's reform agenda. A survey commissioned by The Jakarta Post and D&R newsweekly set out to pinpoint the people's real feelings about the MPR's Special Session. JAKARTA (JP): Although many people in Indonesia support the session, most cited reasons other than the one upheld by the MPR leadership and President Habibie, according to a new survey.

New bank loan repayment plan to be unveiled

New bank loan repayment plan to be unveiled JAKARTA (JP): The government is to unveil a new format on Tuesday for the repayment of Bank Indonesia liquidity support injected to troubled banks since January. Indonesian Bank Restructuring Agency chairman Glenn S. Yusuf said on Monday that the loan repayment system might be discussed first with IMF Asia Pacific director Hubert Neiss prior to the announcement.

Bank recapitalization program to go ahead

Bank recapitalization program to go ahead JAKARTA (JP): Bank Indonesia Governor Sjahril Sabirin stressed on Monday that the government would not delay its bank recapitalization program despite bankers' protests. He said that bank owners should make a "great effort" to come up with fresh money to finance at least 20 percent of the recapitalization program.

MPR factions make final preparations

MPR factions make final preparations JAKARTA (JP): A flurry of activity on Monday marked the eve of the Special Session of the People's Consultative Assembly (MPR) -- some schools were closed and office workers sent home early for fear of unrest, while pressure groups made last minute attempts to influence the event.

Yayuk to plump for Asiad singles instead of the mixed doubles

Yayuk to plump for Asiad singles instead of the mixed doubles JAKARTA (JP): Indonesia's best tennis player Yayuk Basuki has decided to play in the women's singles at the 13th Asian Games in Bangkok next month instead of the mixed doubles. National tennis training director Benny Mailili told reporters on Monday about Yayuk's decision which was made after she returned from her European tour two weeks ago. "We've heard that Japan's Ai Sugiyama will miss the Asiad.

TGPF and moral courage

TGPF and moral courage The long-awaited joint fact-finding team (TGPF) report on the mid-May riots deserves a thumbs-up. It stands towering as an honest report and a sign of moral courage amid a grievous condition of our nation which lacks integrity. The hard work of this team is even more encouraging for most Indonesians, who still count on conscience rather than pride, power and deception.

Where to go in Bandung:

Where to go in Bandung: Exhibitions * Painting Exhibition at Sahid Topas Galeria Hotel, Jl. Dr. Djundjunan No 153 (Phone: 022 642631), until Nov. 17. * Arts Exhibition by Aendra M. Medita, Dodi Rosadi, Hermana, Koesari Ratmono, and Nandang Gawe, at CCF - French Cultural Center, Jl. Purnawarman 32 (Phone: 022 4212417), 8:30 a.m. to 7:30 p.m., until Nov. 19. Discussion with Jim Supangkat, Bambang Sugiharto, etc, at 7:30 p.m., Nov. 19.

Private gets lethal lesson

Private gets lethal lesson DILI, East Timor: A private in the infantry was beaten to death by his instructor during a training session at Yonif 745 battalion's headquarters in Lospalos on Saturday. Second Private Swandi, who had just been assigned to the battalion, died after being struck by Second Sgt. T at the battalion's headquarters. Lt. Col.

City-owned bank to become limited liability company

City-owned bank to become limited liability company JAKARTA (JP): The Jakarta administration will change the status of city-owned Bank DKI into a limited liability company starting early next year to enable it to be more competitive and flexible, the bank's president, Soeharto, said on Monday. Soeharto said the change was expected to shorten the lengthy and arduous bureaucratic system currently adopted by the banks' management.

Singapore customs seize turtle eggs

Singapore customs seize turtle eggs SINGAPORE (Reuters): Singapore customs officials seized 125 kg of turtle eggs being shipped in from Indonesia hidden among boxes of electronic components on Monday. "The turtle eggs were packed in three boxes and weighed about 125 kg," a customs spokesman said. He said it was not immediately clear what kind of turtles the eggs were from, but no turtle eggs were allowed into Singapore.

Tight security fails to deflate spirit of MPR street demos

Tight security fails to deflate spirit of MPR street demos JAKARTA (JP): The capital witnessed a number of protests with various themes on Monday, the day before the start of the four- day People's Consultative Assembly (MPR) Special Session. Most of the protesters who thronged the streets were against the session, while many others voiced their own agendas.

Indonesia not ready for oopen competition: Expert

Indonesia not ready for oopen competition: Expert JAKARTA (JP): Many economic sectors in the country still need government protection, a German expert on monopoly said on Monday. Wolfgang Kartte, the former president of the German Federal Agency, said here that it would take years for the nation's economy to be made fully open. "The Indonesian economy is not ready for a completely open market because it could lead to danger for the country," Kartte told a seminar on the antimonopoly bill.

Biennale highlight of November Festival '98

Biennale highlight of November Festival '98 By Yudha Kartohadiprodjo JAKARTA (JP): Nov. 10 has long been an important date for the capital. While the rest of the country is indebted to the heroic incident in Surabaya 53 years ago when locals fought the Allied troops, the residents of Jakarta have another event to celebrate.

Bank Artamedia sues Green Garden

Bank Artamedia sues Green Garden JAKARTA (JP): Bank Artamedia has filed suit against PT Tamara Green Garden, demanding the property developer repay about Rp 11.5 billion (US$1.36 million) in loans. The Jakarta Commercial Court said on Monday that the first hearing on the bankruptcy petition would be held on Nov. 16. According to court documents, Tamara secured Rp 10.5 billion from Bank Artamedia in 1996, but was unable to settle the debt due to financial difficulties.

Windfall unlikely for luxury hotels

Windfall unlikely for luxury hotels JAKARTA (JP): Despite fears of unrest during the four-day Special Session of the People's Consultative Assembly which starts here on Tuesday, most five-star hotels in the city have not recorded a surge in bookings by anxious residents seeking safe havens in which to weather the coming political storm. Hoteliers said on Monday that no extraordinary increase in bookings had been recorded in the run-up to the session.

Is Anwar's trial the beginning of the end of Mahathir's regime?

Is Anwar's trial the beginning of the end of Mahathir's regime? By Gwynne Dyer LONDON (JP): "If someone higher than the deputy prime minister were to instruct you to come and lie to the court here, would you do it?" asked the defense lawyer for Malaysia's jailed ex-deputy prime minister, Anwar Ibrahim. "Depends on the situation," replied Mohamed Said Awang, the head of the Malaysian police's Special Branch, in a burst of honesty he may live to regret.

S'pore, RI navies in joint exercise

S'pore, RI navies in joint exercise SINGAPORE (AFP): About 400 personnel from the navies of Singapore and Indonesia are to take part in a 10-day biennial exercise, Singapore's defense ministry said on Monday. The bilateral exercise, which begins on Monday, will involve day and night encounters, antisubmarine warfare and practice surface target firing, the statement said.

Visa expects zero growth this year

Visa expects zero growth this year JAKARTA (JP): Visa International expects zero growth in the number of cardholders in Indonesia this year, but in terms of transaction value the credit card company estimates an increase of 15 percent. Ellyana C. Fuad, Visa International country manager for Indonesia, said on Monday that the increase in the transaction value was mainly due to the country's high inflation rates.

ABRI ready to discuss its dual function

ABRI ready to discuss its dual function JAKARTA (JP): Amid mounting pressure on the People's Consultative Assembly (MPR) to expel the military from the country's formal political arena, Minister of Defense and Security/Armed Forces (ABRI) Commander Gen. Wiranto said on Monday the Armed Forces (ABRI) faction was ready to discuss the demands at the MPR Special Session.

Three dead in Medan hotel fire

Three dead in Medan hotel fire MEDAN, North Sumatra: Two men and a woman were found dead in their hotel rooms after a fire gutted a room of the four-story Dirga Surya hotel on Jl. Imam Bonjol here Monday morning. They were believed to have fallen unconscious in the thick smoke from the fire. The woman, Meely, 27, of Pekanbaru was found with an unidentified male in room number 218, while the other victim, Sunarto, 26, of Medan was found in room number 216.

Symposium to save PWI

Symposium to save PWI YOGYAKARTA: Dozens of journalists in the Journalists Forum for the Salvation of the Indonesian Journalists Association (PWI) are to hold a national symposium here on Nov. 21 with the theme of salvaging the association.

Telkom enjoys profit after first-half loss

Telkom enjoys profit after first-half loss JAKARTA (JP): State-owned telecommunications firm PT Telkom reported on Monday a 71 percent decrease in net profit to Rp 326.1 billion (US$38.6 million) during the first nine months of this year from a Rp 1.13 trillion surplus in the same period of last year. The company said in a statement that the negative growth in profit was caused mainly by foreign exchange losses, amounting to Rp 1.56 trillion.

Ampolex seeks to buy Humpuss shares in Cepu

Ampolex seeks to buy Humpuss shares in Cepu JAKARTA (JP): Oil and gas company Ampolex (Cepu) Pty Ltd., a subsidiary of the United State's energy company Mobil Corp., is seeking to take over Humpuss Patragas's 51 percent stake in the Cepu oil and gas field on the border of Central and East Java.

AWB not to buy Bogasari

AWB not to buy Bogasari CANBERRA (Dow Jones): Australia's monopoly wheat exporter AWB Ltd Monday downplayed rumors it is about to buy Indonesia's PT Bogasari Flour Mills, the world's largest miller. But an AWB spokesman confirmed it is looking at investment opportunities in what is a major customer country. Indonesia is an important market and it is always looking at ways to ensure continuity of supply of Australian wheat to Indonesia, the spokesman said.

China working on reef: Manila

China working on reef: Manila MANILA (AP): More than 100 Chinese workers are building large concrete barracks and possibly a pier on a disputed South China Sea reef, Philippine defense secretary Orlando Mercado said on Monday. He called the Chinese buildup on Mischief Reef a "creeping invasion" of Philippine territorial waters and said Manila was considering filing a complaint at the United Nations. The reef, which the Philippines calls Panganiban, is located in the disputed Spratly Islands.

No service to mark St Cruz incident

No service to mark St Cruz incident JAKARTA (JP): Dili Bishop Carlos Felipe Ximenes Belo said on Monday his diocese would hold no formal public commemoration of the seven-year anniversary of the Santa Cruz shootings, but advised relatives of those killed to attend local church ceremonies.

Conversion Rates

Conversion Rates Bank Bali's conversion rates on Nov. 9, 1998: TT rates Bank notes rates Buying Selling Buying Selling Rp Rp Rp Rp U.S. dollar 1 8,275.00 8,375.00 8,275.00 8,525.00 Austrian schilling 1 659.75 729.75 - - Australian dollar 1 5,111.60 5,371.60 5,065.00 5,415.00 Belgian franc 1 222.10 247.10 - - Brunei dollar 1 - - 4,825.00 5,150.00 Canadian dollar 1 5,214.80 5,494.80 5,640.00 6,140.00 Swiss franc 1 5,816.50 6,096.50 5,640.00 6,140.00 Deutschemark 1 4,763.75 5,023.75 4,670.00 5,070.

Tangerang expect bigger revenues

Tangerang expect bigger revenues TANGERANG: Despite a sluggish property business during the prolonged economic crisis, the Tangerang regency announced on Sunday it expected increased revenues from the collection of building permit issuances this fiscal year. The head of the Tangerang regency's building agency, Adil Darmawan, expressed confidence that an increasing number of developers would apply for permits to enable them to build or rebuild properties in the area.

MPR session to determine rupiah's fate

MPR session to determine rupiah's fate JAKARTA (JP): Bank Indonesia Governor Sjahril Sabirin said on Monday that the beleaguered rupiah should strengthen against the U.S. dollar if the Special Session of the People's Consultative Assembly (MPR) proceeds peacefully. He said the rupiah's recent volatility against the American dollar was primarily caused by rising market apprehension over the political environment at home ahead of and during the Special Session this week.

Stock Exchange

Stock Exchange Stock prices on the Jakarta Stock Exchange (in rupiah) on Nov. 9, 1998: Shares Close Change Trading Volume ------------------------------------------------------- Ades Alfindo 325 -25 192,500 AHAP Insurance 400 0 0 Alter Abadi 275 25 98,000 Alumindo Light Metal 250 -25 88,500 Alumindo Perkasa 125 0 0 Aneka Kimia Raya 150 0 0 Aneka Tambang 1,600 25 18,657,500 Anwar Sierad 100 0 0 Apac Centertex Corp.

Tapos farmers protest police intimidation

Tapos farmers protest police intimidation JAKARTA (JP): At least 30 representatives of farmers from Cibedug village near Tapos in Bogor visited the National Commission on Human Rights again on Monday, complaining of fresh intimidation by police over a dispute with former president Soeharto's Tri-S Tapos ranch. The farmers' spokesman, Juhari, said Bogor Police recently questioned 10 farmers and four student activists as witnesses over damage to property on the ranch.

S'pore gives nod to liberalization

S'pore gives nod to liberalization SINGAPORE (DPA): Singapore's government has agreed to a series of proposed liberalization moves aimed at making the city-state more attractive as an international financial hub, officials said Monday. "There is less need for rules and regulations that set limits on what can and cannot be done," as long as basic regulations are in place, a report on the changes said.

No Amien, Megawati, Gus Dur meeting

No Amien, Megawati, Gus Dur meeting JAKARTA (JP): Student activists' campaign to bring together three opposition leaders and have them issue statements that would defuse mounting tension between opponents and supporters of the People's Consultative Assembly (MPR), was foiled on Monday because of one leader's poor health.

Asuransi Astra, Amway tie up

Asuransi Astra, Amway tie up JAKARTA (JP): PT Asuransi Astra Buana, a subsidiary of Astra International, and PT Amindoway Jaya, the sole distributor of Amway products in Indonesia, have formed a strategic alliance to expand their networks and services, the companies announced on Monday. Amindoway President Frank D. Reuneker said the initial program of the alliance was to provide an insurance service at specially discounted rates for Amway distributors in the country.

ABRI's dual role, Soeharto target of student protests

ABRI's dual role, Soeharto target of student protests JAKARTA (JP): Students across the country on Monday piled various pressures on the People's Consultative Assembly (MPR) on the eve of its Special Session. In their sporadic rallies, the students renewed their demands for the Assembly to scrap the Armed Forces (ABRI) privileges of playing both defense and sociopolitical roles and to try former president Soeharto whom they accused of power abuses over 32 years.

Old habits die hard

Old habits die hard The current reform movement is proving itself increasingly incapable of bringing about a new political culture. The many staged expressions of political support and opposition that we have seen lately show we are repeating the old habit that we denounce so noisily these days.

Scholars, parties raise last-minute issues

Scholars, parties raise last-minute issues JAKARTA (JP): Scholars and party leaders on Monday raised last minute demands which they called on to be included in the agenda for the Special Session of the People's Consultative Assembly (MPR), which begins here on Tuesday. Sixteen lecturers grouped in the All-Indonesia Communication Forum of Lecturers (Fajar) told the regional representatives faction that they would call for a "national strike" if the session failed to heed the people's aspirations.

Backpacker's appeal

Backpacker's appeal With all the apparent positive changes and restructuring taking place within the Indonesian government, economy and infrastructure, I think it is time to rethink the nation's tourism policy. As an incredibly rich nation in terms of culture, ethnicity, linguistics and geography, Indonesia is a very attractive country to explore. However, with the current political and civil unrest within Indonesia, you can no longer rely on the rich, short-term, tour package vacationer.

Student shot dead in E. Jakarta brawl

Student shot dead in E. Jakarta brawl JAKARTA (JP): A student of a state vocational high school was shot dead during a brawl on Jl. D.I. Pandjaitan, East Jakarta, on Saturday morning. Alfian Rusjadi, 16, of SMK 5 high school, collapsed with a wound to his forehead after police tried to break up the clash between students of SMK 5 and a rival school. East Jakarta Police detectives chief Maj.

Portrait of a nation

Portrait of a nation Expressionist painters like Van Gogh and Affandi, if they were still alive today, would be delighted to put the current national scene on canvas. To untrained eyes, the result might look extremely chaotic, with tragic red coloring visible in addition to irregular yellow and green lines. At an art exhibition, it would not fail to impress critics while investors might smell gold.

Few reporters gain entry to opening

Few reporters gain entry to opening JAKARTA (JP): Only 190 of the 1,700 local and foreign journalists registered to cover the Special Session are accredited for the main Grahasabha Paripurna building for the opening ceremony on Tuesday morning. President B.J. Habibie is scheduled to attend. Antara said the names of the select journalists had yet to be announced as registration was still underway and computers were being used to prepare handouts for the session.

10 killed by lightning

10 killed by lightning MAUMERE, East Nusa Tenggara: A thunderbolt killed 10 Waebubak villagers in Manggarai who were playing volleyball during a heavy rainstorm. According to eyewitnesses, the victims, along with two survivors, were playing volleyball in a local field last Thursday, when the bright sky suddenly turned cloudy. A few minutes later the whole village was inundated by the sudden rainstorm.

Education system needs changes

Education system needs changes By Nirwan Idrus This is the first of two articles on the Indonesian education system. JAKARTA (JP): Globalization has a pervasive impact in all respects. The monetary crisis is no longer an Asian monetary crisis as businesses around the globe are feeling the economic pinch. The pinch is also felt by medical practitioners, hospitals, other service industries and education.

Success means what?

Success means what? Groups have expressed doubts that President B. J. Habibie's government is sincere in its intent to hold a fair general election next year. They say the government deliberately decided on such a short time span for the preparation of the poll in the hope it will allow it to retain power. That is why, they add, the Special Session of the People's Consultative Assembly (MPR) -- opening on Tuesday -- is a meaningless event.

Gen. Wiranto

Gen. Wiranto Correction: The fourth sentence of the fifth paragraph of a letter entitled "Urgent appeal to Gen. Wiranto" published on Monday, Nov. 9, 1998, should have read "Surely, you do not want our country to disintegrate ..." We apologize for the error. -- Editor

Jakartans remain deaf to noise pollution

Jakartans remain deaf to noise pollution By Stevie Emilia JAKARTA (JP): Many people in the capital are getting used to deafening noise erupting from loudspeakers in shopping areas in Blok M, South Jakarta, or to the roaring sounds emitted by bemo (three-wheeled public transport vans) or bajaj (three-wheeled motorized pedicabs) at Tanah Abang market, Central Jakarta. Without realizing it, people have become the victims of noise pollution, which could damage their eardrums, almost every day.

No excuse for call waiting

No excuse for call waiting JAKARTA (JP): State-run telecommunications company PT Telkom is providing a telecommunications kiosk, better known as a Wartel, in the People's Consultative Assembly/House of Representatives lobby for the Special Session. "The kiosks are equipped with telephones, telegrams and Internet access," Telkom's division II chief Guntur Siregar was quoted by Antara as saying.

Asian monies fall as dollar rallies against yen

Asian monies fall as dollar rallies against yen SINGAPORE (Dow Jones): A bout of position covering pushed Southeast Asian currencies lower against the U.S. dollar during Asian trading hours on Monday. After renewed buying propelled the U.S. dollar above 119 yen in New York on Friday, dollar buying from market players caught short the U.S. currency against Asian regional currencies forced the Singapore dollar and the Thai baht lower in Asian trading.

Adaro to raise coal output

Adaro to raise coal output JAKARTA (JP): Coal mining company PT Adaro Indonesia plans to raise output to 14 million metric tons next year from 10.7 million tons this year, the company said on Monday. The South Kalimantan-based company will further increase output to 17 million tons in 2000, company operations manager Putu Sastrawan was quoted by Antara as saying.

Anwar trial prosecutor denies a 'plot' report

Anwar trial prosecutor denies a 'plot' report KUALA LUMPUR (Agencies): Malaysian prosecution denied on Monday the existence of any report naming top officials alleged to have conspired against ousted deputy premier Anwar Ibrahim in the second week of his corruption trial. "For the record, we have information that there is no such report dated Sept.