Indonesian Political, Business & Finance News

Archive: 5 November 1998

54 articles found

RI given discount on cattle imports

RI given discount on cattle imports JAKARTA (JP): The country will import 30,000 beef cattle at discounted prices from Western Australia to meet expected high demand over Christmas, New Year's and the Moslem Idul Fitri festivities in January. Director General of Financing and Development Services Deswandhy Agusman said on Tuesday the cattle would be imported by private companies and cooperatives.

Foreign investment approvals slump 50% until October

Foreign investment approvals slump 50% until October JAKARTA (JP): The government approved US$12.7 billion worth of foreign investment projects in the first 10 months of 1998, down 49.8 percent from projects worth $25.3 billion approved in the same period last year, State Minister of Investment Hamzah Haz said on Wednesday.

Kostrad meeting was 'not secret'

Kostrad meeting was 'not secret' JAKARTA (JP): Noted businessman Hashim S. Djojohadikusumo claimed on Wednesday that there was nothing secret about the meeting held at the Army's Strategic Reserve Command (Kostrad) headquarters on May 14, saying it was a "very normal meeting among friends". The younger brother of the then Kostrad chief Lt. Gen.

Stock Exchange

Stock Exchange Stock prices on the Jakarta Stock Exchange (in rupiah) on Nov. 4, 1998: Shares Close Change Trading Volume ------------------------------------------------------- Ades Alfindo 225 -50 17,000 AHAP Insurance 400 0 0 Alter Abadi 250 0 1,000 Alumindo Light Metal 225 0 0 Alumindo Perkasa 125 0 0 Aneka Kimia Raya 125 0 0 Aneka Tambang 1,525 150 41,088,000 Anwar Sierad 100 0 0 Apac Centertex Corp.

Javan hawk-eagle numbers dwindling

Javan hawk-eagle numbers dwindling JEMBER, East Java: A chief conservationist expressed concern on Tuesday over the decreasing number of Javan hawk-eagles in the country, Antara reported. The population of Javan hawk-eagles is estimated at no more than 200 and it is feared their numbers will continue to dwindle, the head of Meru Betiri National Park, Indra Arinal, said. The park has only 12 hawk-eagles. He feared the endangered species would be extinct in several years.

Disabled reject severance pay

Disabled reject severance pay JAKARTA (JP): Eighty handicapped workers of Swa Prasidya Purna workshop for the handicapped rejected on Wednesday combined severance pay of Rp 200 million (US$25,000) offered by the center's management. The severance pay was offered in compensation for the cessation of the center's operations, but the employees demanded instead that they be allowed to continue living at and running the center.

Designers compromise creativity to meet targets

Designers compromise creativity to meet targets By Stevie Emilia JAKARTA (JP): In their work, designers depend mostly on creativity. But in facing the future's competition, many of them, like it or not, must compromise with the demand from producers and the market, leaving cultural aspects behind. According to art designer Rini Chairin Hayati, a speaker at last week's Asia Pacific Design Conference '98, many designers can no longer enjoy the freedom to express their creativity.

TGPF report on riots gets mixed reactions

TGPF report on riots gets mixed reactions JAKARTA (JP): Criticism and praise have greeted the long- awaited findings of the joint fact-finding team on the May riots which blanketed Jakarta and other major cities. Minister of Defense and Security/Armed Forces Commander (ABRI) Gen. Wiranto said on Wednesday that the team, known by its acronym TGPF, had breached its authority by providing analysis of the unrest instead of compiling facts.

Bankers call on govt to extend CAR deadline

Bankers call on govt to extend CAR deadline JAKARTA (JP): Bankers urged the government on Wednesday to set back the end-of-December deadline for all commercial banks to have a minimum 4 percent capital adequacy ratio (CAR) due to their current difficulty in raising cash.

Debtor-creditor date

Debtor-creditor date The two-day conference on Indonesian corporate foreign debt that ended here on Tuesday was not designed to reach any concrete deals but mainly to jump-start negotiations between creditors and debtors. That seemed a fairly petty task for such a massive gathering which brought together participants from all around the world.

Slow action

Slow action From Gatra For four full years -- from July 1991 to July 1995 -- I was assigned to a state enterprise in Banyuwangi, East Java, a district subdivided into 13 subdistricts and having a population of some 1.5 million people. When I was stationed there, I traveled all over the district night and day, going through forest areas such as Baluran and Grajagan tourist forest and even the Kaliklatak estate area.

ADB provides aid for irrigation

ADB provides aid for irrigation MANADO, North Sulawesi: The Asian Development Bank (ADB) has provided more than Rp 29 billion for the repair and maintenance of irrigation networks in the province for the 1998/1999 fiscal year, Antara reported on Wednesday. The ADB funds will benefit irrigation networks in 60 sites in the regencies of Minahasa, Bolaang Mongondow and Gorontalo, irrigation official Bambang Hargono said.

Most SE Asian currencies gain footing

Most SE Asian currencies gain footing SINGAPORE (Dow Jones): All Southeast Asian currencies, except Indonesia's flagging rupiah, managed to climb higher against the U.S. dollar despite a gradually weakening yen in Asian trading on Wednesday. The Philippine peso pushed as high as 39.293 pesos to the dollar in intraday trading before falling back late in the day. In late trading, the U.S. dollar traded at 39.390 pesos, still well down from 39.71 pesos late Tuesday.

Local producers stand up to influx of imports

Local producers stand up to influx of imports JAKARTA (JP): An influx of cheap imported paper onto the domestic market has not yet affected local producers, a senior Ministry of Industry and Trade official said on Wednesday. Gatot Ibnu Santoso, the ministry's director general of chemical, agricultural and forestry products, said the imported paper would not hurt local producers because it was mostly of a lower quality than paper produced in the country.

RI's postcrisis financial sector

RI's postcrisis financial sector By Eddy Soeparno JAKARTA (JP): Indonesia, relative to other regional countries, is still lagging way behind in terms of its economic recovery. The country has just received a "Pass" grade from the International Monetary Fund (IMF), after months of lengthy negotiations, followed by delays in the disbursement of much- needed funding.

Net int'l reserves increase to US$14.21b

Net int'l reserves increase to US$14.21b JAKARTA (JP): Bank Indonesia's (BI) net international reserves rose by US$299.8 million to $14.21 billion in the week ending Oct. 30 from the previous week's $13.91 billion, the central bank announced on Wednesday. Bank Indonesia attributed the surge in the net international reserves to the disbursement of loans pledged by the Japanese Overseas Economic Cooperation Fund (OECF) and foreign exchange revenue from of oil and natural gas exports.

Squatters occupy a disputed Ancol plot

Squatters occupy a disputed Ancol plot JAKARTA (JP): A group of 100 people occupied a 1.4-hectare plot of land inside the Ancol dreamland park in North Jakarta on Wednesday. Claiming to be representatives of the land's heirs, the squatters pitched bamboo and canvas tents and pledged to remain on the site until the park's management, PT Pembangunan Jaya Ancol, fulfilled its promise to provide Rp 2.2 billion (US$252,000) compensation to the heirs.

Palembang, too, has beautiful batik

Palembang, too, has beautiful batik By Lila Fitri Aly JAKARTA (JP): We know all about batik from Yogyakarta, Surakarta (Solo), Pekalongan or other cities of Central Java. But Palembang batik? In fact, batik production is found not only in Java, but also other areas of the country such as Palembang and Bali. Various kinds of batik were recently on display in a batik exhibition held at the Ministry of Industry and Trade building, Jakarta.

Reporters robbed aboard minivan

Reporters robbed aboard minivan JAKARTA (JP): Two reporters and two other passengers were robbed of belongings worth about Rp 4 million (US$500) by a gang of five young men who boarded their public minivan near Jatinegara railway station in East Jakarta early on Wednesday morning.

Indosat reports 89.4% rise in net profit

Indosat reports 89.4% rise in net profit JAKARTA (JP): PT Indonesian Satellite Corporation (Indosat) announced on Wednesday consolidated net income of Rp 847.7 billion (US$79.2 million) for the first nine months of 1998, representing an 89.4 percent increase over the same period of last year. Earnings per share were Rp 818.6 or 77 U.S. cents per American Depository Share (ADS) using Bank Indonesia's Sept. 30 closing exchange rate of Rp 10,700 per U.S. dollar.

Siemens enters local fire protection market

Siemens enters local fire protection market JAKARTA (JP): Swiss fire protection equipment maker Cerberus AG, a unit of the Germany-based technology company Siemens AG, has set up a joint venture offering fire protection and security systems to buildings in the country. Cerberus president for the Asia-Pacific region Michael T. Felder said on Wednesday the creation of the joint venture was part of the company's efforts to lead the fire protection market in the region in the next five years.

KONI picks swimmers, horse riders for Asiad

KONI picks swimmers, horse riders for Asiad JAKARTA (JP): National Sports Council (KONI) chairman Wismoyo Arismunandar on Wednesday gave the nod to two women swimmers and four horse riders to compete at the 13th Asian Games in Bangkok next month. Calling his decision a special policy, Wismoyo said the athletes deserved places in the Asiad-bound national team for undergoing months of overseas training and trials without relying on the council's financial support.

Floods force many from homes

Floods force many from homes BANYUMAS, Central Java: Thousands of residents in six districts in the regencies of Banyumas and Cilacap were forced to flee to higher ground after their homes were inundated following two days of heavy rains. One person died after he was swept away by floodwater in Gumelar district, Banyumas, while financial losses amounted to dozens of million of rupiah, Antara reported on Wednesday. Traffic connecting Banyumas and Purwokerto was cut off for hours.

TV today

TV today TVRI 2:00 p.m. News: Berita 14 2:30 Music 2:35 Children's Film: Thundercats 3:05 Environment Program 3:30 Science Film: Invention 4:00 Regional News 4:30 Creative Program: Karya Kita 5:00 Arabic Lessons 5:30 TV Series: The Man from Uncle 6:00 News: Lintasan Berita 6:05 Documentary: Rona Nusantara 6:15 Sports 6:30 TVRI News (in English) 7:00 Evening News 7:35 Comedy 8:00 News: Lintasan Berita 8:05 Comedy 8:20 Koran Recital 8:30 Religious Teachings: Islam 9:00 World News 9:35 Jazz Music...

We'll get tough, Wiranto says

We'll get tough, Wiranto says JAKARTA (JP): The Armed Forces (ABRI) has threatened to take stern action against anyone attempting to disrupt the Nov. 10 through Nov. 13 Special Session of the People's Consultative Assembly (MPR) as it believes the event is the "only gateway" to a democratic Indonesia. Minister of Defense and Security/Armed Forces Commander Gen. Wiranto maintained that the session, as part of the national political agenda, must be secured and followed through.

CPO exports fall in response to strong rupiah

CPO exports fall in response to strong rupiah JAKARTA (JP): Producers of crude palm oil (CPO) have cut back on exports as the rupiah gains some strength against the U.S. dollar and the government maintains a high export tax on the product, an industry executive has said.

UNESCO warns RI facing a dire problem

UNESCO warns RI facing a dire problem By Rita A. Widiadana Indonesia has been buffeted by social, economic and political blows for more than a year. And there is no sign of a recovery in sight. The country's education, culture and science sectors, along with environmental management, are particularly at risk in this long-lasting crisis. In conjunction with its 53rd anniversary on Wednesday (Nov.

Senayan to renegotiate deal with Mulia Hotel

Senayan to renegotiate deal with Mulia Hotel JAKARTA (JP): The Senayan sports complex management will first target Hotel Mulia Senayan as it seeks better deals with 10 enterprises occupying its prime real estate in Central Jakarta, its vice chairman Agung Laksono said Wednesday.

Public to get say on use of safety net funds

Public to get say on use of safety net funds BANJARMASIN, South Kalimantan (JP): Coordinating Minister for People's Welfare/Poverty Eradication Haryono Suyono said on Tuesday there would be more public say on the use of safety net funds. Speaking on a one-day visit here, the minister noted that under the previous administration, decisions on fund usage were made by the central government. Haryono was launching programs related to the nationwide Rp 17.25 trillion social safety net scheme.

Singapore to mend Malaysia fences

Singapore to mend Malaysia fences SINGAPORE (AFP): Singapore Prime Minister Goh Chok Tong will make a one-day visit to Malaysia on Thursday to meet with Prime Minister Mahathir Mohamad, it was announced here on Wednesday. The surprise visit followed rumors of important developments in bilateral ties between the two neighbors, whose often stormy relations hit a new low in recent months.

President's religion

President's religion I am writing in response to Masli Arman's letter of Oct. 28. He wrote: "By analogy, to expect a non-Moslem to be the next President of Indonesia is as unrealistic as to expect a Moslem to be the prime minister of Hindu India..." The reference to India as "Hindu India" is unfortunate.

U.S. sees 'somber' APEC

U.S. sees 'somber' APEC WASHINGTON (AFP): U.S. Trade Representative Charlene Barshefsky on Tuesday warned that an upcoming APEC summit would be a "somber" affair, citing the depth of the Asian economic malaise and Japanese resistance to tariff cuts. Barshefsky, briefing reporters here, said delegates to the Nov.

Where to go in Surabaya:

Where to go in Surabaya: Exhibition * Photo Exhibition: Images d'Europe by Jean-Christophe Ballot, at CCCL - French Cultural Center Jl. Darmokali 10 (Phone: 031 5678639), 9 a.m. to 8:30 p.m., Nov. 9-28. Film * French Film, at CCCL - French Cultural Center, La vie est un long fleuve tranquille, 2 p.m. and 7 p.m., until Nov. 6. Les voleurs, Nov. 9-13. Music and Entertainment * Hyatt Regency Surabaya, Jl. Jend.

The Moslem Conference

The Moslem Conference Despite the organizing committee's earlier promise that the currently ongoing Indonesian Moslem Congress was intended purely as a means of strengthening bonds, we cannot avoid smelling political motives after hearing yesterday's opening speech by the chairman of the Indonesian Council of Ulemas (MUI), K.H. Ali Yafie, and upon learning of the planned grand closing ceremony at the Istora Sports Hall, Senayan.

Insurance firms 'must pay out on riots claims'

Insurance firms 'must pay out on riots claims' JAKARTA (JP): Immediate settlement of insurance claims related to last May's rioting would improve the image of the insurance industry, an executive said here on Wednesday. PT Asuransi Allianz Utama Indonesia president Manfred Wittau said that the reputations of insurance firms were currently at stake especially following massive incoming claims from victims of the May riots.

Saudi needs more skilled RI workers

Saudi needs more skilled RI workers JAKARTA (JP): Crisis-stricken Indonesia has a golden opportunity to supply, if it can, as many as six million skilled workers to be employed in various sectors in Saudi Arabia, according to an official of a Saudi Arabian labor recruitment agency. Waleed A.

Chamber Music performs tonight

Chamber Music performs tonight JAKARTA (JP): The Jakarta Chamber Music Society will perform at Gedung Kesenian Jakarta on Nov. 5 at 8 p.m. The concert, coordinated by Iswargia Sudarno, will feature leading classical musicians Yudianto Hinupurwadi, I.G. Bagus Wismakarma, Heri Sunarto, Sharon G. Eng, Sulistyo Utomo, Pudjiwati I. M. Effendi and Ary Sutedja.

Yunus again denies role in foreign journalists' murder

Yunus again denies role in foreign journalists' murder JAKARTA (JP): Minister of Information Lt. Gen. Muhammad Yunus Yosfiah has again denied involvement in the killing of five foreign journalists in Balibo, East Timor, 23 years ago while serving there with the military. Yunus said he neither shot nor ordered his troops to shoot the journalists. He said he had never even met them and became aware of their deaths only in 1981.

Massive brawls a tradition in Mataram

Massive brawls a tradition in Mataram MATARAM, West Nusa Tenggara: Udayana Regional Military Commander Maj. Gen. Adam R. Damiri has blamed long-standing feuds for a recent massive brawl between residents of Petemon and Karang Genteng, Pagutan district, in which seven people were killed, six seriously injured and 30 houses damaged. Antara quoted Damiri as saying the authorities would invite community leaders to help the authorities defuse the situation.

125,000 civilians to help safeguard MPR meeting

125,000 civilians to help safeguard MPR meeting JAKARTA (JP): The city security authority, short on personnel and weighed down by a mounting workload, has enlisted 125,000 civilians to help safeguard next week's Special Session of the People's Consultative Assembly (MPR). Jakarta Police chief Maj. Gen.

Gatari to return forest ministry's helicopters

Gatari to return forest ministry's helicopters JAKARTA (JP): Private air charter company PT Gatari Air Service, owned by ex-president Soeharto's son Hutomo Mandala Putra, is to return the remaining five helicopters owned by the ministry of forestry and plantations as late as February 1999. The ministry's secretary-general, Oetomo, said that Gatari had agreed to return one helicopter this month, one in December, two more in January next year and the last one in February.

Rupiah propped up before MPR session

Rupiah propped up before MPR session JAKARTA (JP): Bank Indonesia said on Wednesday it would intervene in the currency market in the days leading to and during the special session of the People's Consultative Assembly next week to prevent the rupiah from declining further. BI Governor Sjahril Sabirin said that the central bank, like in the previous days, would sell between US$ 1 million and $5 million to prop up rupiah's stance against the American dollar.

Golkar's perpetual arrogance

Golkar's perpetual arrogance From Tempo It seems that the Functional Group (Golkar) still retains its arrogant and over-confident attitude, characteristics it perpetuated during the New Order era. Golkar feels that there is no reason for the party to apologize to the Indonesian people for all the calamities that have befallen us. In fact, we are all aware that Golkar is the source of all the crises the nation has to experience today.

Conversion Rates

Conversion Rates Bank Bali's conversion rates on Nov. 4, 1998: TT rates Bank notes rates Buying Selling Buying Selling Rp Rp Rp Rp U.S. dollar 1 8,425.00 8,525.00 8,425.00 8,625.00 Austrian schilling 1 681.05 751.05 - - Australian dollar 1 5,155.80 5,415.80 5,150.00 5,500.00 Belgian franc 1 228.45 253.45 - - Brunei dollar 1 - - 5,060.00 5,385.00 Canadian dollar 1 5,355.00 5,635.00 5,300.00 5,800.00 Swiss franc 1 6,039.50 6,319.50 5,890.00 6,390.00 Deutschemark 1 4,912.75 5,172.75 4,845.00 5,245.

Police warn of tense situation ahead of MPR

Police warn of tense situation ahead of MPR JAKARTA (JP): The country will be gripped by tension in the days leading up to the Nov. 10 to Nov. 13 Special Session of the People's Consultative Assembly (MPR), according to National Police chief Lt. Gen. Roesmanhadi. "There'll be no days without demonstrations. The situation will be lively," the three-star general told a meeting with senior media executives at his official residence on Jl. Pattimura in South Jakarta on Tuesday evening.

Thailand will quit INRO

Thailand will quit INRO BANGKOK (Reuters): Thailand, the world's top natural rubber producer and exporter, is leaning towards pulling out of the International Natural Rubber Organization (INRO), a government minister said on Wednesday. Deputy Agriculture Minister Somchai Sunthornwat said his ministry would soon propose to the cabinet that Thailand withdraw from the agency after it ignored the country's plea to raise intervention prices to meet bearish market conditions.

Mobil Oil 'knows nothing' of rights abuses in Aceh

Mobil Oil 'knows nothing' of rights abuses in Aceh JAKARTA (JP): The management of an American-based oil company denied on Wednesday that it should share the blame for human rights abuses in Aceh, the country's northernmost province. Chief executive officer of Mobil Oil Corp., L.A. Noto, was responding to allegations by a coalition of 11 non-governmental organizations in Sumatra that military members interrogated and tortured people at some of the firm's facilities in Aceh.

IBRA pessimistic on bad bank loans

IBRA pessimistic on bad bank loans JAKARTA (JP): The banking sector's huge number of non- performing loans (NPLs) cannot be fully recovered due to the severity of the economic crisis that has plagued the country since the middle of last year, according to a key official of the Indonesian Bank Restructuring Agency (IBRA). IBRA's asset management unit director Eko Budianto said on Wednesday that the rupiah would have to strengthen to Rp 3,000 to the U.S.

Pauline Hanson factor fails to rate Indonesia: Study

Pauline Hanson factor fails to rate Indonesia: Study By Rob Goodfellow WOLLONGONG, Australia (JP): A recent qualitative study conducted in Indonesia suggests that the Pauline Hanson Factor was not high in the minds of the average Indonesian man in the street. This was just one of a number of findings made in a study involving 100 ordinary Indonesian people by Wollongong University-based IRIS Research.

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. * Sketch and Drawing Exhibition: by Made Budhiana, Nyoman Erawan, Made Djirna, etc., in Gedung Kriya Taman Budaya, Denpasar, until Nov. 23. * Arts Exhibition: Kelompok Reinkarnasi, at Museum Puri Lukisan, Jl. Raya Ubud, Ubud (Phone: 0361 975136), 8 a.m.

Political link to killings comes under scrutiny

Political link to killings comes under scrutiny JAKARTA (JP): National Police Chief Lt. Gen. Roesmanhadi said on Wednesday that the Armed Forces (ABRI) has sent three teams to investigate the mass killings of Moslem preachers and alleged practitioners of witchcraft in East Java. The three teams, from ABRI Headquarters, the National Police and the East Java Police Headquarters, have been assigned to investigate what Roesmanhadi believes to be politically-motivated murders.

MPR session may fail to uphold people's aspirations

MPR session may fail to uphold people's aspirations The People's Consultative Assembly (MPR) is scheduled to hold an extraordinary session in Jakarta on Nov. 10-13 to endorse the general election process of May 1999. Political sciences lecturer Mochtar Mas'oed of Gadjah Mada University in Yogyakarta sees a strong possibility of its failure to accommodate aspirations developing among the people.

Wiranto warns Moslem community about the dangers of reform

Wiranto warns Moslem community about the dangers of reform JAKARTA (JP): Minister of Defense and Security/Armed Forces (ABRI) Commander Gen. Wiranto warned on Wednesday against allowing the reform movement to degenerate into a revolution. Addressing a session of the Indonesian Moslem Congress being held at Pondok Gede Haj Dormitory in East Jakarta, he described the risks of letting radical movements create anarchy.

Vaccination drive a shot in the arm for kids' health

Vaccination drive a shot in the arm for kids' health JAKARTA (JP): The first shots were given on Wednesday as the city opened its month-long tetanus and diphtheria vaccination program for its nearly a million elementary school students. Minister of Health Farid A. Moeloek inaugurated the campaign at state elementary school SDN 010 and Islamic elementary school Darul Atfal in Kebon Jeruk, West Jakarta. The vaccinations are administered free-of-charge.