Indonesian Political, Business & Finance News

Archive: 24 November 1998

59 articles found

Low oil prices offer rare respite to Asian economies

Low oil prices offer rare respite to Asian economies SINGAPORE (Reuters): As oil group OPEC looks for ways to get oil prices higher, Asian governments are likely to be watching events with more than passing interest. Faced with the worst economic crisis in decades, the region, a large net importer of petroleum, has found consolation in stubbornly weak oil prices.

'No need to detain Soeharto if...'

'No need to detain Soeharto if...' JAKARTA (JP): Former president Soeharto will only be placed under house arrest if he is not cooperative in any government probe into corruption allegations, Attorney General Andi Muhammad Ghalib said on Monday.

Conversion Rates

Conversion Rates Bank Bali's conversion rates on Nov. 23, 1998: TT rates Bank notes rates Buying Selling Buying Selling Rp Rp Rp Rp U.S.

Indonesia Air Transport soars in its services

Indonesia Air Transport soars in its services Indonesia Air Transport (IAT) began operations in 1968, initially for state oil and gas company Pertamina and its production-sharing, foreign oil companies. IAT provides a wide variety of quality aviation services to the oil, gas and mining industry within Indonesia and Southeast Asia.

Govt should focus on inquiry of 'Black Friday'

Govt should focus on inquiry of 'Black Friday' JAKARTA (JP): Students have demanded that the government concentrate on investigating the Semanggi tragedy rather than waste time on charging people with treason. The clashes between students and security officers on Nov. 12 and Nov. 13 claimed 16 lives, the last being student Engkus Kusnadi, who died on Sunday after being in a coma since he was shot the week before.

Rates for tax payment, valid from Nov. 23 to Nov. 29

Rates for tax payment, valid from Nov. 23 to Nov. 29 U.S. dollar 1 Rp 7,450.00 Austrian schilling 1 628.17 Australian dollar 1 4,714.36 Belgian franc 1 213.84 Canadian dollar 1 4,797.78 Swiss franc 1 5,368.60 Deutschemark 1 4,416.12 Danish krone 1 1,163.16 French franc 1 1,317.19 Poundsterling 1 12,378.97 Hong Kong dollar 1 961.91 Italian lira 100 446.91 Japanese yen 100 6,123.12 Malaysian ringgit 1 1,960.47 Dutch guilder 1 3,918.99 Norwegian krone 1 993.96 New Zealand dollar 1 3,952.23 Swedish...

Ananda to join Edenbridge racing team

Ananda to join Edenbridge racing team JAKARTA (JP): Young Indonesian driver Ananda Mikola will sign a two-year contract with the Edenbridge racing team for next season's Formula 3000 championship in England. Ananda said on Monday his overseas stint -- his second after the Italian Formula Three last season -- would boost his bid to race in the Formula One. He qualified for the F-3000 championship after finishing fifth overall in the Italian races.

Committed to safety and security

Committed to safety and security PT Gatari Air Service is one of the players in the Indonesian aircraft charter industry. Established in 1983, it has 23 aircraft. The company's services in the Indonesia market are mainly in mining and coal companies, especially foreign companies such as Caltex, Conoco, Unocal, Vico, Mobil Oil, Gulf, Arco and Shell.

Trisakti, CHN to develop self-auditing system

Trisakti, CHN to develop self-auditing system JAKARTA (JP): Trisakti Tourism Academy signed on Monday a memorandum of understanding (MOU) with a Dutch hotel management school for the introduction of a self-auditing system for hoteliers, restaurateurs and catering service operators here.

Mines and energy sector and the crisis

Mines and energy sector and the crisis The monetary crisis has influenced all business sectors. But in the mines and energy sector, the impact has been less severe. Minister of Mines and Energy Kuntoro Mangkusubroto said: "This is because the mines and energy sector is a long-life industry. Even now, investors are positive.

Search still on for crew members

Search still on for crew members KUPANG, East Nusa Tenggara: Fifteen crew members of the Putra Timor Sarana 03 fishing boat are still unaccounted for since the boat went missing on Nov. 18. The boat was last seen around Rote island in Kupang regency. The head of the search and rescue operation team, Slamet Riyadi, was quoted by Antara as saying Monday that the team, the Navy, the Orari radio organization, port authorities and locals were still searching for the missing.

ABRI supports Habibie, rejects presidium

ABRI supports Habibie, rejects presidium JAKARTA (JP): The Armed Forces (ABRI) headquarters again announced its support for President B.J. Habibie's administration, saying a presidium was not constitutional. Armed Forces Chief of Territorial Affairs, Lt. Gen. Susilo Bambang Yudhoyono, on Monday rejected proposals from various opposition groups, including students, for an immediate end to Habibie's government and the establishment of a presidium to replace the current government.

IBRA appoints appraiser

IBRA appoints appraiser JAKARTA (JP): The Indonesian Bank Restructuring Agency (IBRA) has appointed independent appraiser PT Satyatama Graha Tara and independent storage service provider PT Balindo to support the auction process of non-core assets of 10 banks suspended in April and August. "The appointment of these companies is based on fair and transparent evaluation with international standards," IBRA chairman Glenn S. Jusuf said on Monday in a press statement. Vice chairman Eko B.

Japan to offer Thailand $500 million bond loan

Japan to offer Thailand $500 million bond loan BANGKOK (AFP): Japan is to grant Thailand a US$500 million yen-denominated loan to help rescue the country's crisis-hit state sector, Thai Finance Minister Tarrin Nimmahaeminda said Monday. The loan will be backed by a bond issue in Japan, Tarrin said after meetings here with Japanese Minister of International Trade and Industry (MITI) Kaoru Yosano.

Jakarta Initiative seeking $2.5b to help restructuring

Jakarta Initiative seeking $2.5b to help restructuring JAKARTA (JP): The Jakarta Initiative Task Force chairman Jusuf Anwar said on Monday that he was inviting multi-national companies (MNCs) to provide at least US$2.5 billion to be used as working capital for indebted local companies. He said on Monday that talks had started with three MNCs which had shown an interest in providing interim funding for viable indebted companies.

Letter to the President

Letter to the President From Merdeka I am only a mother and a housewife, but if you asked me, "What is the best thing that we can do for this angry nation?", I would reply: 1. Do not talk too much anymore, especially not in a threatening tone. 2. You must state that you will not resort to a security approach in handling each action.

Tommy questioned over Rp 52.5b land swindle

Tommy questioned over Rp 52.5b land swindle JAKARTA (JP): The youngest son of former president Soeharto, Hutomo Mandala Putra, spent three hours at the Attorney General's office on Monday answering questions about a Rp 52.5 billion land scam in North Jakarta. "I came here to convey what I know," Tommy, as the businessman is popularly known, said after the investigation. He vowed full cooperation with the government in conducting the investigation.

Friday tragedy

Friday tragedy My heart cried and my eyes misted over when I saw the terrifying war-like scene on television on Nov. 13. It was a real bloody Friday! The nightmare we feared -- a clash between security forces and student protesters -- came true. The endless sound of shooting, the kicking, the beatings and the punching were all mixed on the "battle field", resulting in not only a horrifying violent atmosphere, but also the deepest human agony, the loss, the death and injuries among students.

Large businesses call for changes to monopoly bill

Large businesses call for changes to monopoly bill JAKARTA (JP): Major business players in the country called on the lawmakers on Monday to practice flexibility in deliberating the anti-monopoly bill. A major producer of food items in the country, PT Indofood Sukses Makmur, said that one of the bill's clauses which limits a product penetration to 30 percent at the maximum was totally unfair.

Poor residents get donation

Poor residents get donation JAKARTA (JP): A group of five health-related bodies marked the last day of a two-month social services program for needy residents in the densely populated area of Sunter Jaya subdistrict, North Jakarta Saturday. At a cost of some Rp 50 million (US$7,150), the program included the distribution of free packages of basic food to 2,000 of Sunter Jaya's 8,000 families and the handling of free medical services to 319 patients, the organizers said.

Painting contest at Ciputra Mall

Painting contest at Ciputra Mall JAKARTA (JP): About 1,500 orphans are expected to take part in a painting competition on a 1,500-meter canvas at Ciputra Hotel and Mall in West Jakarta on Dec. 6. Harti Hadisoemo, spokesperson of the hotel, said the competition, held jointly with Radio Sonora, Fantasi Tabloid and Faber Castell, was expected to be recorded as the longest children's painting at the Indonesian Museum of Records.

MPR scuttles press freedom

MPR scuttles press freedom By Atmakusumah This is the second of two articles on the aborted attempt by Indonesian journalists to ensure press freedom in the country. JAKARTA (JP): The 1,000-strong People's Consultative Assembly (MPR) concluded its Special Session without taking the opportunity to contemplate the meaning of the tireless efforts of the press community and the public at large to shed the chains that have shackled press freedom for the past 254 years.

Two nabbed for selling marijuana

Two nabbed for selling marijuana JAKARTA (JP): Police have arrested two men for storing and selling 4.5 kilograms of dried marijuana worth Rp 6.7 million (US$931), a police official said on Saturday. Head of the narcotics department of the City Police Lt. Col. Abdullah H.S. said the suspects, identified as Satria Parangin angin, 30, and Eddy Syahputra, 28, were caught red-handed by undercover officers in the early hours of Friday in the Cimanggis area of East Jakarta.

Probing Soeharto's wealth

Probing Soeharto's wealth At last President B.J. Habibie is meeting the public's demand for an investigation into former president Soeharto's wealth. A commission is to be formed for this particular purpose shortly. This is a good beginning even though we still have to see who will be selected to sit in the commission and how large the scope of the commission's duties will be.

Quality management in crisis situation

Quality management in crisis situation Instability and the rupiah's depreciation are difficulties faced by all business sectors. But for publicly listed PT Timah Tbk, these conditions have had a positive effect on its profits because 95 percent of its product is exported, while the remaining 5 percent is sold domestically. Only 15 percent of its production costs are in U.S. dollars. PT Timah Tbk's marketing operations are handled through its Bangka island head office.

Malaysia's exit from INRO 'highlights cartel's failing'

Malaysia's exit from INRO 'highlights cartel's failing' KUALA LUMPUR (Dow Jones): Malaysia's decision in October to withdraw from the International Natural Rubber Organization may not have alarmed the rubber industry, but its departure has definitely thrust INRO's inability to prop up rubber prices into the limelight, said Malaysian Primary Industries Minister Lim Keng Yiak.

South Sulawesi national park threatened by illegal settlers

South Sulawesi national park threatened by illegal settlers By Zainuddin Bakulu KENDARI, Southeast Sulawesi (Antara): Forestry authorities in Southeast Sulawesi are struggling to cope with the problem of intruders encroaching into the Rawa Aopa Watumohai National Park in protest at not being resettled elsewhere. About 300 families have made their way into the park and established settlements there after the regent reneged on a promise to enroll them in the government's transmigration program.

New water customers offered discounts

New water customers offered discounts JAKARTA (JP): PT PAM Lyonnaise Jaya, which is in charge of tap water management in West Jakarta, is offering a 45 percent discount on connection fees to new customers. The discount is being offered to customers of all rating categories and those paying cash in advance, the company announced on Monday.

'Jekyl and Hyde' North Korea at crossroads

'Jekyl and Hyde' North Korea at crossroads By Bill Tarrant SEOUL (Reuters): North Korea is at a crossroads, with one path leading to confrontation and another to reconciliation, officials said during U.S. President Bill Clinton's weekend visit to South Korea. Policymakers see North Korea as exhibiting Jekyll and Hyde tendencies.

Shipping company taken to court over Rp 690m debt

Shipping company taken to court over Rp 690m debt JAKARTA (JP): PT Daya Radar Utama has filed a bankruptcy petition against PT Perusahaan Pelayaran Angkutan Pertambangan (PPAP) in the Jakarta Commercial Court for the latter's failure to pay a service fee of Rp 689.49 million (US$ 92,000). According to court data, Daya Radar Utama, a shipping service company operating in North Jakarta, received several orders to renovate barges owned by PT PPAP in 1990.

Religious leaders asked to help rid the city of rioting

Religious leaders asked to help rid the city of rioting JAKARTA (JP): Governor Sutiyoso said on Monday that he would invite religious leaders, experts and representatives of various institutions to discuss and analyze an upward trend in the outbreak of riots in the capital to help arrive at a comprehensive settlement.

Victim of Semanggi incident laid to rest

Victim of Semanggi incident laid to rest SUMEDANG, West Java (JP): Attended by hundreds of his student colleagues, Engkus Kusnadi, a victim of the Black Friday clashes, was buried here at his parents' home town on Monday. Engkus, 19, was in a coma, from which he never recovered, since he was shot on Nov. 13. "It is absolutely a lie if the military says they only shot rubber bullets. The bullet smashed his head and damaged his brain," his mother Cici said.

Singapore, Malaysia work on water-for-money deal

Singapore, Malaysia work on water-for-money deal SINGAPORE (AFP): Singapore Premier Goh Chok Tong disclosed on Monday that Singapore and Malaysia were negotiating deals that would help Malaysia raise funds and slake Singapore's thirst for generations to come. Both governments are looking into draft agreements submitted by each side on the "related" questions of assistance and water supply, but it would be premature to release details, Goh told a parliamentary session.

Hospitals on alert for La Nina disease

Hospitals on alert for La Nina disease KUALA LUMPUR (AP): The Health Ministry told medical centers nationwide to be on alert to prevent the spread of disease from flooding caused by La Nina, news reports said on Monday. Flooding is expected in all of Malaysia's 13 states due to heavier than usual monsoon rains from the La Nina weather phenomenon. Thousands of people recently have had to evacuate their homes in three northern states.

Govt helps the poor in Tangerang

Govt helps the poor in Tangerang TANGERANG (JP): The central government has set aside Rp 27.7 billion (US$3.69 million) to help poor people who have been severely affected by the monetary crisis in both Tangerang regency and mayoralty, an official said on Sunday. Bunyamin, head of the development planning agency of Tangerang regency, said Rp 19.8 billion of the total fund would be used to help 57,789 families in the regency and thousands dismissed from their jobs during the crisis.

Stock market rises sharply in the face of weekend riots

Stock market rises sharply in the face of weekend riots JAKARTA (JP): Share prices on the local stock market rose sharply by 5.2 percent on Monday and the rupiah strengthened to 7,475 to the U.S. dollar, practically shrugging off weekend rioting in the city which claimed 13 people dead. Stockbrokers said stocks trading on the Jakarta Stock Exchange (JSX) was buoyed by the persistent influx of foreign funds on most blue chip stocks.

S'pore rubber futures lower

S'pore rubber futures lower SINGAPORE (AFP): Singapore rubber futures prices eased Monday on lower volumes, dealers said. Trade in the three rubber contracts of the Singapore Commodity Exchange eased to 5,225 tons from 9,045 tons last Friday. The April-June RSS 1 contract last traded at 119.00 Singapore cents, the April-June RSS 3 contract at 71.00 US cents and the December TSR 20 (FOB) contract at 56.50 US cents.

I listened to the people: Sutiyoso

I listened to the people: Sutiyoso JAKARTA (JP): Governor Sutiyoso admitted on Monday that his decision to rescind the appointment of four of the five Armed Forces (ABRI) members as high-ranking city administration officials was made in response to public demand. "I decided to cancel the appointment of the four military members after I listened to all the input, including from the public. I hope it will it will satisfy people," he said.

Four hurt in factory protest

Four hurt in factory protest MEDAN, North Sumatra: Four people were seriously injured and 14 others detained when more than 5,000 people tried to occupy the pulp factory of PT Inti Indorayon Utama in Porsea, North Sumatra, on Monday. It was the latest confrontation in a long- running dispute between the factory and locals.

Death toll rises to 91 in Vietnam

Death toll rises to 91 in Vietnam HANOI (AP): Flooding caused by heavy rains in central Vietnam has claimed 91 lives, and local officials said on Monday the number was expected to rise as they receive more reports. The floods affected several hundred thousand people in one of Vietnam's poorest regions. No damage estimate was available, but it was believed to be in the tens of millions of dollars. Downpours of up to 1.185 meters Thursday through Sunday submerged large swaths of land.

UPS same-day exports come with guarantee

UPS same-day exports come with guarantee United Parcel Service (UPS), the world's largest package distribution company, serves 200 countries and territories. UPS started business in the U.S. 91 years ago and began expansion worldwide in 1975, winning numerous industry honors since. In Indonesia, UPS' joint venture with Cardig Air, PT Cardig Citra Primajasa, has its head office at Halim Perdanakusuma Airport, Jakarta.

U.S. ambassador summoned to Malaysia's foreign ministry

U.S. ambassador summoned to Malaysia's foreign ministry KUALA LUMPUR (AP): The U.S. ambassador to Malaysia was summoned to the foreign ministry Monday for an earful of government reaction to Vice President Al Gore's apparent support for the anti-government movement.

Keep religion out of it

Keep religion out of it That emotions are high and tempers short among many of our people became apparent when a simple casus belli flared up into an ethnic conflict with a religious twist. It then escalated into fatal rioting. This is often the case when religious groups get involved for unclear reasons. Another ugly side of life here today is that ever since the devastating monetary crisis hit this nation last year, more and more people seem to have become overly sensitive.

Where to go in Bandung:

Where to go in Bandung: Exhibition * Painting Exhibition: Batu yang Tak Sampai Padamu, by Diyanto, at Galeri Bandung, Jl. Siliwangi 16 (Phone: 022 236515), 9 a.m. to 5 p.m., until Dec. 4. Performances * Jazz concert by French quartet and Krakatau band, at Hotel Hyatt Regency. Nov. 25. For information call French Cultural Center (phone: 4212417) * Ballet: Bawang Merah Bawang Putih, by Studio Ballet Wisma Nartaki, at Gedung Kesenian Rumentang Siang, Jl.

Concern, regrets over riots

Concern, regrets over riots JAKARTA (JP): Tiptoeing around a potentially explosive issue, government and religious leaders were circumspect in their reaction to the bloody ethnic strife that rocked Jakarta on Sunday with most expressing regrets and concerns on Monday. The strongest reaction to the Ketapang incident, which left 14 people dead and saw 13 churches torched and damaged, instead came from The Vatican.

Parties united in demand to keep proportional system

Parties united in demand to keep proportional system JAKARTA (JP): The three political parties represented in the House of Representatives were united on Monday in demanding the retention of the proportional representation (PR) voting system for next year's general election in preference to the government- proposed district system.

No political motives behind SCTV takeover: Government

No political motives behind SCTV takeover: Government JAKARTA (JP): The Ministry for the Empowerment of State Enterprises dismissed on Monday allegations that the government's plan to acquire a majority stake in the privately-run SCTV television channel is driven by political motives. "No, it is not politically motivated. The (planned) takeover is based purely on a business deal," said Sofyan Djalil, an assistant at the ministry.

Passenger robbed by taxi driver

Passenger robbed by taxi driver TANGERANG (JP): Detectives here are attempting to trace the driver of a Koperasi taxi suspected of involvement in the robbery of his passenger on the toll road at Warakas in North Jakarta on Sunday. Tangerang Police Detectives chief Capt.

Stock Exchange

Stock Exchange Stock prices on the Jakarta Stock Exchange (in rupiah) on Nov. 23, 1998: Shares Close Change Trading Volume ------------------------------------------------------ Ades Alfindo 425 50 175,500 AHAP Insurance 400 0 0 Alter Abadi 300 50 1,320,000 Alumindo Light Metal 350 50 283,500 Alumindo Perkasa 125 0 0 Aneka Kimia Raya 225 50 284,500 Aneka Tambang 1,800 50 18,009,500 Anwar Sierad 125 25 239,000 Apac Centertex Corp.

Police front lines told to use batons only

Police front lines told to use batons only JAKARTA (JP): Following the loss of 16 lives during student rallies, Minister of Defense and Security/Armed Forces (ABRI) Chief Gen. Wiranto has given instructions that police officers standing facing the front lines of demonstrators should only carry batons. ABRI spokesman Maj. Gen. Syamsul Ma'arif confirmed on Monday that the instruction was meant to prevent a repetition of the Nov. 13 Semanggi shooting spree.

Bogor man arrested for killing his boss

Bogor man arrested for killing his boss BOGOR (JP): Police have arrested a man who is believed to have killed his employer and dumped the body in an old artesian well located behind the victim's scrap iron factory in Ciparigi village, North Bogor. Abas Basuki, 29, was arrested on Friday, a day after the body of Arja Dumadi Sutandar, 60, was found by the police, who were acting on a tip-off from the victim's wife, Bogor Police chief Lt. Col. Edmond Ilyas told the media on Monday.

Govt rules on cassava exports

Govt rules on cassava exports JAKARTA (JP): The Industry and Trade Ministry has issued a new set of regulations for exporters of cassava to the European Union countries, allowing only registered companies to export the commodity.

Maan, Kasiadi to lock horns at Matoa golf

Maan, Kasiadi to lock horns at Matoa golf JAKARTA (JP): Professional golfers Maan Nasim and Kasiadi top the list of competitors at the Matoa Nasional Open championship which tees off here on Tuesday. The annual tournament held at Matoa Golf and Country Club in Ciganjur, South Jakarta, boasts no less than 80 professional and amateur local golfers who will vie for shares of a purse worth Rp 92 million (US$12,400). The winner will earn Rp 25 million.

Death toll up to 14 after more bodies found

Death toll up to 14 after more bodies found JAKARTA (JP): Eight more bodies were found in the gutted remains of Ketapang 11 amusement center on Jl. K.H. Zainul Arifin in Ketapang, West Jakarta, on Monday, bringing the death toll from Sunday's riots to at least 14. Two of the eight bodies recovered belonged to people believed to have suffocated to death in the toilet on the ground floor of the four-story amusement center.

Mining body calls for policy reforms

Mining body calls for policy reforms JAKARTA (JP): The Association of Indonesian Mining Professionals (Perhapi) has called for reforms to mining policy to give greater benefits to the public. Association chairman Herman Afif Kusumo said on Monday that the 1967 mining law should be revamped in line with the spirit of the new economic policy set out recently by the Special Session of the People's Consultative Assembly (MPR).

TV today

TV today TVRI 5:30 a.m. Religious Teachings: Hikmah Pagi 6:00 Morning News 6:30 News: Nuansa Reformasi 7:00 Children's Program: Lagu Anak Nusantara 7:30 Cartoon 8:00 Music 8:30 Documantary Film 9:00 Music 9:30 Interval 2:00 p.m.

Meaning of civil society evolves through time

Meaning of civil society evolves through time By Mochtar Buchori JAKARTA (JP): The presence of government-backed civil security "volunteer" groups during the just concluded Special Session of the People's Consultative Assembly (MPR) has attracted much public attention. They poured in from outside Jakarta, traveling together and arming themselves with sharpened bamboo poles (bambu runcing) and sickles.

PPP plan to return to former identity as an Islamic party

PPP plan to return to former identity as an Islamic party JAKARTA (JP): The United Development Party (PPP) will return to its former identity as an Islamic party, which will be reflected in its new statute and the use of the Kaaba, the black holy shrine in Mecca, as its symbol, its chairman said on Monday. Ismail Hasan Metareum said these will be among the issues discussed at a party congress which will begin on Sunday, Antara reported.

RI requalifies for World Bank soft loan facility

RI requalifies for World Bank soft loan facility JAKARTA (JP): The World Bank has agreed in principle to once again make International Development Assistance (IDA) interest- free, soft loans available to Indonesia because the economic crisis has dragged the nation back down into the ranks of low- income countries, a senior minister has said. Coordinating Minister for Economy, Finance and Industry Ginandjar Kartasasmita said here on Monday that at an exchange rate of Rp 8,000 to the U.S.