Indonesian Political, Business & Finance News

Archive: 26 November 1998

53 articles found

Mexico's Cemex prepared to buy another six percent in Semen Gresik

Mexico's Cemex prepared to buy another six percent in Semen Gresik JAKARTA (JP): Mexico's Cemex SA will buy another 6 percent stake in PT Semen Gresik through an open market beginning next week, to increase its shares in the country's largest cement producer to 20 percent. Mexico's Cemex, the third largest cement maker in the world, announced on Wednesday that the six percent stake would equal 35.58 million shares.

Jamsostek offers free medical help to the poor

Jamsostek offers free medical help to the poor JAKARTA (JP): Life is hard for Syahlani. Soon after his dismissal as a driver of state-owned transportation company PT Damri in July, he opened a food stall near his house. He earns between Rp 10,000 (US$1.33) and Rp 20,000 daily but his income is too low to meet his family's needs. The family lives in a slum area in Pulogadung subdistrict, East Jakarta. Two of his eight children have graduated from high school but are jobless.

Five journalists get CPJ awards

Five journalists get CPJ awards NEW YORK (AFP): Journalists from Belarus, Eritrea, Indonesia, Niger, Panama were lauded late on Tuesday by the Committee for the Protection of Journalists (CPJ) for covering the news in difficult and dangerous conditions.

300 people protest RI church burnings

300 people protest RI church burnings MANILA (AFP): Some 300 Filipinos rallied outside the Indonesian embassy here Wednesday to protest at mob violence against Christians and the ethnic Chinese minority in Indonesia. The protesters lit candles and laid wreaths outside the embassy in the Makati financial district in memory of those killed in the riots last May as well as in the latest violence over the weekend. "Stop Burning Churches," one placard read.

No reshuffle planned, Habibie says

No reshuffle planned, Habibie says JAKARTA (JP): President B.J. Habibie has assured his 34-strong cabinet there would not be any reshuffle until a new government is formed next year, Minister of Information Lt. Gen. Muhammad Yunus said on Wednesday. Habibie led the cabinet meeting on political affairs and security which, among other things, listened to Attorney General A.M. Ghalib's report on his office's investigation into former president Soeharto's wealth. Armed Forces Commander Gen.

Public uptight on lack of security, says sociologist

Public uptight on lack of security, says sociologist JAKARTA (JP): Widespread insecurity fears are among the factors that contributed to recent riots, sociologist Selo Soemardjan said on Wednesday. This is in addition to groups taking advantage of public distrust of the government and the military. "People are insecure, and they overreact to what they think is the cause of the lack of security," Selo said after addressing a session at talks held by the Center for Corporate Leadership.

Fund management firms loss assets

Fund management firms loss assets JAKARTA (JP): Many major fund management companies in Indonesia suffered substantial reductions in assets under their management due to the financial crisis, a senior official at a leading fund management company said. Rizka Baely, director of PT Citicorp Securities Indonesia, said on Wednesday that there were massive withdrawals by mutual funds' institutional clients in the wake of the crisis.

Soeharto's son returns to Attorney General's Office

Soeharto's son returns to Attorney General's Office JAKARTA (JP): The youngest son of former president Soeharto, Hutomo "Tommy" Mandala Putra, reported to the Attorney General's Office on Wednesday for a third straight day of questioning in connection with a Rp 52.5 billion land scam. Tommy arrived at the office at 9 a.m. with his lawyers H.M. Dault and Erman Umar. The questioning session ended seven and a half hours later, Antara reported.

End the violence

End the violence Though we hate to admit it, the events of the past few months are making it more and more difficult to dispel the notion that is prevalent among a growing number of observers here, that Indonesians, as a people, are prone to violence. In the past two weeks alone scores of people have met violent deaths, either during fights among civilians or in confrontations between protesters and security personnel.

Nominees for TV awards announces

Nominees for TV awards announces JAKARTA (JP): Two comedy series grabbed 12 nominations for the awards in this year's Indonesian Sinetron Festival, the highest award for TV programs. The nomination for both Mat Angin and Angkot Haji Imron II (Haj Imron's Minivan II) was announced Tuesday night and was broadcast live by the five private television stations. Three other nominated comedy series were Satu Atap Seribu Wajah (One Roof, A Thousand Faces), Fatima and Keluarga Miring (Crazy Family).

Soeharto hands over foundations' money

Soeharto hands over foundations' money JAKARTA (JP): Former president Soeharto has handed over to the government the funds from seven charity foundations he chaired, a total of about Rp 4 trillion (US$530 million), according to Minister of Information Lt. Gen. Muhammad Yunus. In a letter dated Nov. 22, Soeharto advised his successor B.J. Habibie to use the funds to empower the poor and alleviate poverty, Yunus noted on Wednesday.

The chicken has been fried: Ghalib

The chicken has been fried: Ghalib JAKARTA (JP): Attorney General Lt. Gen. Andi Muhammad Ghalib became the star of the cabinet meeting on Wednesday when his colleagues and even President B.J. Habibie asked him what he had done with a chicken he received from protesting students one day earlier. The fate of the chicken became a hot issue before and during the six-hour cabinet meeting. The President and ministers burst into laughter when Ghalib gave them the details about the hen.

PSSI receives Rp 50m donation

PSSI receives Rp 50m donation JAKARTA (JP): The Youth and Sports Development Foundation presented on Wednesday a Rp 50 million (US$6,700) donation to the All Indonesian Soccer Federation (PSSI) to help it finance competitions for elementary school students. Assistant to the State Minister of Youth Affairs and Sports Amrum Bustaman said PSSI was chosen as the recipient of the funds due to the fact that it shows greater concern for youths than other sports organizations.

Riot rocks Pinrang over embezzlement of public money

Riot rocks Pinrang over embezzlement of public money PINRANG, South Sulawesi (JP): Tens of thousands of angry people went on a rampage on Wednesday, burning down some government offices in protest at the local administration's handling of a scam involving two local cooperatives. The Pinrang regent's office, the district prosecutor's office, the district court building and the office of the Sawito district chief were set on fire by the mob.

Rallies and demonstrations continue throughout the capital

Rallies and demonstrations continue throughout the capital JAKARTA (JP): Having an endless supply of energy, thousands of students and activists, including nuns and taxi drivers, continued their massive rallies on Wednesday. Across the city a wide-range of voices protested for a diversity of causes. Most of the protesters first gathered at the Hotel Indonesia roundabout before drifting to various nearby areas.

Where to go in Bali:

Where to go in Bali: Exhibitions * Painting Exhibition: Different Visions, by Frans Nadjira, Charles Cham, Budhiana, Aant S. Kawisar, at Ganesha Gallery, Four Seasons Resort, Jimbaran (Phone: 0361 701010), daily, 12 p.m. to 8 p.m., until Dec. 3. * Arts Exhibition: by Mangu Putra at The Chedi Gallery, Desa Melinggih Kelod, Payangan Gianyar, Ubud (Phone: 0361 975963), until Jan. 4.

Era before Bharata Yudha

Era before Bharata Yudha From Merdeka The recent happenings in this country remind me of the story of the period leading to the Bharata Yudha (war of the Bharatas). In short, there will be a struggle to enforce truth and justice. Back then there were two camps, each of which felt it was right. The Ngastina Pura camp consisted of the government, the House of Representatives/People's Consultative Assembly (DPR/MPR) and the Armed Forces (ABRI).

Profit-taking spree pulls down local share prices 7.7 percent

Profit-taking spree pulls down local share prices 7.7 percent JAKARTA (JP): Share prices in the local stock market tumbled 7.7 percent on Wednesday as massive profit-taking hit most blue chip stocks, dealers said. The dealers said that besides profit taking, many investors also sold shares to follow the downward trend in regional markets. "I think the buying spree is over.

Stock Exchange

Stock Exchange Stock prices on the Jakarta Stock Exchange (in rupiah) on Nov. 25, 1998: Shares Close Change Trading Volume ----------------------------------------------------------- Ades Alfindo 375 -75 39,500 AHAP Insurance 400 0 0 Alter Abadi 275 -50 653,000 Alumindo Light Metal 300 -50 175,000 Alumindo Perkasa 125 0 0 Aneka Kimia Raya 225 -25 303,500 Aneka Tambang 1,675 -125 9,733,500 Anwar Sierad 125 -25 3,000 Apac Centertex Corp.

Photo exhibition at Plaza Menteng

Photo exhibition at Plaza Menteng JAKARTA (JP): Two of the few Indonesian professional photographers, Kayus Mulia and Eky Tandyo, are displaying 44 of their works in a two-week exhibition beginning Wednesday at Cahya photo gallery in Plaza Menteng in Central Jakarta. Cahya manager Fransiskus Xaverius Ratkocodomo announced that the exhibition on the second floor of the plaza on Jl. HOS Cokroaminoto would be opened to the public until Dec. 7, from 10 a.m. to 8 p.m. every day.

End to anti-Chinese prejudice

End to anti-Chinese prejudice By Anom Surya Putra SURABAYA (JP): Anti-Chinese rumors circulating some time ago can be reflected upon and developed as a historical study of ideas, particularly with a view to sharing a common understanding and evaluation of the intellectual processes of the presence of the term Cina (Chinese) as a text. In this hermeneutic process, there are a number of presumptions in considering, viewing and hearing the anti-Chinese "rumors".

Copper smelter to begin exporting next year

Copper smelter to begin exporting next year SYDNEY (Dow Jones): Indonesia's pioneer copper smelter, PT Smelting Copper Co., has obtained commitments to ship 30,000 metric tons of copper cathodes to buyers in Asia, an official with Mitsubishi Corp. in Tokyo told Dow Jones Newswires. Mitsubishi Corp., which is responsible for PT Smelting Copper's copper marketing, has a 9.5 percent stake in the company, while Mitsubishi Materials Corp., also in Tokyo, has a 60.5 percent stake.

Villagers attack Serpong factory

Villagers attack Serpong factory JAKARTA (JP): About 200 Suradita villagers in Serpong, Tangerang, attacked a chemical factory late Tuesday after learning that one of its employees allegedly attempted to rape a local girl on the previous day. Jakarta Police spokesman Lt. Col. Edward Aritonang said on Wednesday that the angry mob swarmed into the compound of PT Indo Farma, located in the village, at 7:30 p.m. and attack the factory.

Churches asked to step up security ties with locals

Churches asked to step up security ties with locals JAKARTA (JP): Deputy Governor for Social Welfare Djailani said on Wednesday he could not guarantee security for churchgoers at houses of worship damaged in unrest last Sunday, but believed their best bet was to strengthen security efforts with locals. "It's too difficult to guarantee that there will no longer be vandalism.

Civil servants free to join parties

Civil servants free to join parties JAKARTA (JP): In an apparent effort to maintain the support of four million civil servants, the faction of the dominant Golkar, which has declared it will be a formal political party, insisted on Wednesday during deliberations on a political law that civil servants be free to join the political parties of their choice.

Company executive caught smuggling gun

Company executive caught smuggling gun JAKARTA (JP): Customs officials at Soekarno-Hatta International Airport arrested a company executive for smuggling a gun into the country shortly after his arrival here from Singapore on Tuesday night. Sasunto, 37, who identified himself as an executive director of Gasindo Corporation, at first refused to say what was hidden inside an LD/CD video music player he had brought into the country.

Women lead rallies against violence

Women lead rallies against violence JAKARTA (JP): Birds and flowers featured in demonstrations on Wednesday as women took to the streets in several cities to mark the United Nations Day for the Elimination of Violence Against Women. Students also urged an end to the "politics of violence," but 54 were hurt in rallies in Semarang.

Recent travel alert worries tourism firms

Recent travel alert worries tourism firms JAKARTA (JP): Local tourism-related companies have expressed concern over travel warnings recently issued by foreign governments to their nationals considering visits to Indonesia. The chairman of the Inbound Tour Operators Club, Arivaldy Kumarga, said on Wednesday that two outbreaks of rioting within the last two weeks had prompted foreign governments to discourage citizens from traveling to Indonesia.

Monkeys go on looting spree

Monkeys go on looting spree JAKARTA (JP): A food crisis stemming from dwindling numbers of tourists has forced monkeys in a West Java resort to go on a looting spree, a press report said Wednesday. Dozens of monkeys in the Penanjung forest reserve who normally depend upon holidaymakers for food have begun to spring raids on houses, motels and food stalls in the area, grabbing anything they can get their paws on such as rice, peanuts, biscuits and cold drinks.

Wiwid questioned by military personnel

Wiwid questioned by military personnel JAKARTA (JP): A student informer was questioned by military investigators on Wednesday over his claim that he was recruited by a military police officer to infiltrate the student protest movement during the Special Session of the People's Consultative Assembly.

Forex reserves drop to $14.21b

Forex reserves drop to $14.21b JAKARTA (JP): Indonesia's net foreign exchange reserves dropped by US$21.3 million to $14.21 billion in the week ending Nov. 23 from $14.23 million in the previous week mainly due to repayments of the government's overseas debt. Bank Indonesia said in a statement on Wednesday that gross foreign exchange reserves dropped by $10.4 million to $22.75 billion in the same week.

Stone gets RI project

Stone gets RI project BOSTON (Dow Jones): Stone & Webster (SW) won a contract to design, procure and construct a cogeneration plant for Amoseas Indonesia Inc. Amoseas is the Indonesian affiliate of Chevron Corp. and Texaco Inc. In a press release Tuesday, Stone & Webster said it acted as an agent for PT Mandau Cipta Tenaga Nusantara, or MCTN, a joint venture between Chevron, Texaco and PT Nusagalih Nusantara. The terms of the contract weren't released.

China, RI sign barter deal to boost two-day trade

China, RI sign barter deal to boost two-day trade JAKARTA (JP): Indonesia and China agreed here on Wednesday to trade some of their products through a barter deal to boost the declining bilateral trade figures. At the same time, China also agreed to provide US$200 million in export credit and $3 million in grant form to help crisis-hit Indonesia. Secretary General of the Indonesian Chamber of Commerce and Industry (KADIN)-China Committee Chris D.

PGRI must retain independence, fight for members' interest: Habibie

PGRI must retain independence, fight for members' interest: Habibie JAKARTA (JP): The failure of an association of teachers to address members' interests because it has been busy serving the interests of those in power was highlighted on Wednesday in events to mark National Teachers' Day. Addressing a gathering to mark the 53rd anniversary of teachers' day and the opening of the 18th Congress of the Association of Indonesian Teachers (PGRI) at the State Palace, President B.J.

Accor postpone plan to build five new hotels in Indonesia

Accor postpone plan to build five new hotels in Indonesia JAKARTA (JP): International hotel chain Accor Asia-Pacific Corporation has put on hold the construction of its five new hotels in Indonesia due to the economic crisis. Company Director and Group General Manager in Indonesia Marc A.

Mosques are not campaign arenas

Mosques are not campaign arenas From Merdeka The dawn of the reform era, brought about by former president Soeharto's resignation from office, has enabled the establishment of new political parties. Many Moslem political figures have also enthusiastically established their own parties.

Al Gore: A message for Indonesian students?

Al Gore: A message for Indonesian students? By David DeRosa NEW YORK (Bloomberg): Vice President Al Gore's controversial Kuala Lumpur speech last week on democracy and political freedom has Malaysia's powers that be doing back flips. The latest reaction was from Prime Minister Mahathir Mohamad who summoned the U.S. ambassador Monday to give him a piece of his mind. One by one, Malaysians loyal to Mahathir have lined up to express their revulsion at Gore's remarks.

Rock paintings reveal deep history

Rock paintings reveal deep history By Bernard Estrade JAKARTA (AFP): The discovery of a series of rock paintings in lost caves along Kalimantan island has opened up new perspectives on the prehistoric era in the region between Southeast Asia and Australia. Pictures and notes taken from the limestone caves in the region northwest of Sangkuliran in the Indonesian province of East Kalimantan offers analogies with rock art found in the region stretching up to Australia.

Atako-Lindskog leads Matoa National Open by one stroke

Atako-Lindskog leads Matoa National Open by one stroke JAKARTA (JP): Nigerian Stephen Atako-Lindskog recouped from a shaky first day's play to card a course record of 63 on Wednesday and take the lead in the Rp 100 million (US$13,300) Matoa Nasional Open-Andersen Consulting Challenge golf tournament. Atako-Lindskog, a seven-year resident of Indonesia, used his powerful drives to make amends for Tuesday's error-prone opening round, in which he carded a three over par 75.

Drivers attack high school

Drivers attack high school PURWOKERTO, Central Java (JP): Hundreds of public transportation drivers entered their second day of strikes Wednesday and rushed to a high school to seek revenge against a student who hit a driver. The student hit a driver on Monday when students and hoodlums were involved in a brawl with drivers. Police said the brawl broke out after the drivers ignored students' pleas to stop in front of their school when they were running late or were soaking wet from rain.

RI stands at historical crossroads to democracy

RI stands at historical crossroads to democracy With wave after wave of violence rocking Indonesia and no end to antigovernment student protests in sight, prominent lawyer Todung Mulya Lubis takes a hard look at what's behind the unrest... Question: Why are students continuing to stage protests now that the Special Session of the People's Consultative Assembly (MPR) is over?

MasterCard expecting growth in use of debit cards in 1999

MasterCard expecting growth in use of debit cards in 1999 JAKARTA (JP): International credit and debit card issuer MasterCard International is predicting growth of between 20 percent and 40 percent in debit card use in Indonesia next year. MasterCard International's vice president of debit services for the Asia-Pacific region, Jeff Portelli, said on Wednesday his company had recorded indications of a rebound in noncash transactions.

Two more killed by mobs

Two more killed by mobs SEMARANG, Central Java (JP): Police proved helpless to stop mob lynchings when two more were killed on Monday by people who suspected them of being murderers of religious teachers. Semarang regency police chief Lt. Col. Beno Kilapong said the victim killed in Branjang village, Ungaran district, was about 30 years old. As in earlier cases, the man was chased after failing to answer residents' inquiries. Another victim was chased and died after falling on Jl.

South China Sea workshop in Jakarta

South China Sea workshop in Jakarta JAKARTA (JP): Indonesia will host once again the annual workshop on managing potential conflicts in the South China Sea. The Dec. 1 to Dec. 3 workshop will be held in Jakarta for the first time, the Ministry of Foreign Affairs said in a statement. The eight previous meetings were held in resort areas away from the capital to maintain an atmosphere of informality given the sensitivity of the issue.

Youth orchestra to play at TIM

Youth orchestra to play at TIM JAKARTA (JP): The Indonesian Youth Orchestra will hold its second annual concert at 8 p.m. on Thursday at Graha Bhakti Budaya in Taman Ismail Marzuki (TIM), Central Jakarta. The performance is held in conjunction with the 30th anniversary of TIM's Arts Center and the start of a cooperation agreement between the Indonesian Youth Orchestra Foundation and the center.

Conversion Rates

Conversion Rates Bank Bali's conversion rates on Nov. 25, 1998: TT rates Bank notes rates Buying Selling Buying Selling Rp Rp Rp Rp U.S.

Any woman can become president: Scholars

Any woman can become president: Scholars JAKARTA (JP): The recent motion by a group of Moslem clerics to stipulate that the president of Indonesia be male and Moslem had political overtones to it, and discriminated against not only women, but also people of other faiths, scholars said.

Indonesian corporate golf league to resume

Indonesian corporate golf league to resume JAKARTA (JP): The Indonesian corporate golf league is to resume next month with 17 companies having confirmed their participation. Tournament spokesperson Barbara Speirs said on Wednesday that this season's league would be played over six legs at different golf courses in Jakarta and Bogor, West Java. "There may be little of the competitive play commonly seen in a golf tournament.

Rupiah volatility 'to subside in 1999'

Rupiah volatility 'to subside in 1999' JAKARTA (JP): Local and foreign economists predicted on Wednesday that the rupiah would be more stable next year despite lingering worries over the country's political instability.

Beijing to bid to organize 2008 Olympic Games

Beijing to bid to organize 2008 Olympic Games BEIJING (AFP): Beijing will bid to stage the 2008 Olympic Games, officials said Wednesday, launching a new campaign after China's humiliating defeat to Sydney in the contest for the 2000 Games. "Beijing has now decided to bid to host the 2008 Olympic Games," China Olympic Committee (COC) spokesman Wei Hongquan told AFP. The International Olympic Committee (IOC) will make a final decision on the 2008 hosts in 2001.

Frightening student brawls

Frightening student brawls From Neraca Last Friday I witnessed two (high school) student brawls. One was in the afternoon on Jl. Kramat Raya and another in the early evening on Jl. Pasar Minggu. The brawls caused huge traffic jams. City buses were even afraid to continue their journeys out of fear of having their windows smashed. Bus crews are naturally cautious in such situations because students on buses often taunt their foes on the street, who resort to stone-throwing in response.

Con men target direct dial users

Con men target direct dial users JAKARTA (JP): Telecommunications company PT Indosat warned telephone owners on Wednesday about unidentified groups using the firm's name to cheat customers who use the 001 code for international calls. The company's spokesman, JP Basuki, said the groups, for example, rang subscribers to inform them they had won a car in a lottery held by PT Indosat.

Trade firms get ID in China

Trade firms get ID in China BEIJING (AFP): China will issue digital identity cards (ID) to foreign trade enterprises in a further move to control fraudulent foreign exchange transactions, the official China Daily reported Wednesday. The report said the ID cards, which would be issued from Jan. 1, had to be used in all customs transactions.