Indonesian Political, Business & Finance News

Archive: 6 November 1998

58 articles found

A show of wanting sincerity

A show of wanting sincerity Extraordinary. This is the expression that best describes both the findings of the TGPF (Joint Fact Finding Team on the May riots) and the reaction from high-ranking cabinet officials to the team's report. The TGPF findings, arrived at after three months of labor and made public on Tuesday, are indeed extraordinary. We greatly appreciate the efforts made and the integrity of the team's members.

Pelindo privatization into effect next year

Pelindo privatization into effect next year JAKARTA (JP): The government will likely open the tender for the sales of its stake in state sea port operator PT Pelabuhan Indonesia (Pelindo) II to strategic investors early next year, a corporate executive has said. Company director Harmani said on Thursday that Pelindo II, which manages and operates sea ports in West Java and South Sumatra was working on details of the privatization program. "We cannot disclose any further details of that yet..

Police foil holdup, robber shot dead

Police foil holdup, robber shot dead JAKARTA (JP): Police shot dead a repeat offender on Wednesday as he attempted to rob a private employee of Rp 75 million (US$8,330) outside a money changer on Jl. Gunung Sahari, Central Jakarta. City police detectives chief Col. Gories Mere said Andri Mokodompit, 35, was shot twice in the chest while trying to resist arrest.

RP slams China 'build up' in Spratlys

RP slams China 'build up' in Spratlys MANILA (Reuters): The Philippines on Thursday accused China of beefing up its position on a reef in the disputed Spratly Islands by sending armed military and cargo ships to the area and called Beijing's action a "security threat." Foreign undersecretary Leonides Caday summoned the Chinese ambassador in Manila and handed him a two-page protest note demanding the dismantling of structures built by the Chinese in the area, known by the provocative name...

Freeport chief denies corruption charges

Freeport chief denies corruption charges JAKARTA (JP): The chief executive officer of U.S Freeport McMoRan Copper and Gold. Inc., James Moffett, denied Thursday allegations of corruption in PT Freeport's Indonesia operation, including charges against a senior economic minister.

Soehartos' land found in Yogykarta

Soehartos' land found in Yogykarta YOGYAKARTA: The head of the Yogyakarta High Prosecutor's Office Suparman said his office had tracked down 150 hectares of land belonging to former president Soeharto's children and his friends. "Soeharto possesses no land but his children and friends have a total of 150 hectares of land in several locations in the province," he said, adding the land was located in Sleman and Bantul regencies.

Badminton official looks ahead to Sydney Olympics

Badminton official looks ahead to Sydney Olympics JAKARTA (JP): Indonesian badminton players bound for the upcoming Asian Games look set to form the backbone of the national team for the 2000 Olympic Games in Sydney, an official said on Thursday.

Students hold anti-MPR session protest warmup

Students hold anti-MPR session protest warmup JAKARTA (JP): At least 500 students staged a rally on Thursday at the Hotel Indonesia traffic circle in Central Jakarta, calling it a rehearsal for a massive demonstration to be held on Monday ahead of the Nov. 10 to Nov. 13 People's Consultative Assembly (MPR) Special Session.

Prayers, demos prior to session

Prayers, demos prior to session JAKARTA (JP): Even as preparations for the Special Session of the People's Consultative Assembly (MPR) shifted into high gear, groups of proponents and opponents staged "trial" demonstrations on Thursday ahead of the Nov. 10-13 session.

Sovereign defaults continue to decline in 1998: S&P

Sovereign defaults continue to decline in 1998: S&P JAKARTA (JP): Despite financial stress in Asia and its fallout on emerging markets, debt defaults by sovereign governments would continue to decline this year, according to the international rating agency Standard & Poor's. The agency said in the October edition of its Asia Focus that sovereign defaults by number of issuers fell to 37 in 1997, the lowest level recorded since 1982, from 46 in 1996.

Petroz says deal expected on Timor 'liquids' project in '99

Petroz says deal expected on Timor 'liquids' project in '99 BRISBANE, Australia (Bloomberg): Petroz NL said the partners in the Bayu-Undan gas field in the Timor Sea probably will decide by the end of March to go ahead with a US$1.4 billion "liquids" extraction project. The Brisbane-based oil and gas company said the detailed engineering plan is now in the hands of the joint venture partners and the only major hold-up is a resolution of Indonesia's tax policy.

Bio on author Soeman launched

Bio on author Soeman launched PEKANBARU, Riau: The biography of Soeman Hs, who pioneered detective novels in Indonesian literature with his Mencari Pencuri Anak Perawan (In Search of a Virgin Stealer), was launched here Thursday. The extremely smart 370-page volume Soeman Hs, Bukan Pencuri Anak Perawan (Soeman Hs, Not a Virgin Stealer) was written by Fakhrunnas MA Jabbar, a contemporary writer from the province.

Exim handles forestry funds

Exim handles forestry funds JAKARTA (JP): The ministry of forestry and plantations has appointed state Bank Ekspor Impor Indonesia (Bank Exim) to handle the payments of the reforestation funds, the ministry's secretary general Oetomo said on Thursday. Oetomo said that Bank Exim was chosen because it provided the best on-line banking system among the country's banks. "The on-line system allow us to control the payments of the reforestation funds by the minute," he said.

SE Asian currencies' rally appears to run out of steam

SE Asian currencies' rally appears to run out of steam SINGAPORE (Dow Jones): The rally which over recent sessions has propelled Southeast Asian currencies to fresh long term highs against the U.S. dollar appeared to run out of steam during Asian trading hours on Thursday. The Philippine peso, the Indonesian rupiah and the Singapore dollar all slipped back against the U.S. currency, while in North Asia both the New Taiwan dollar and the South Korean won eased in response to the weaker yen.

STDs rife among Tangerang prostitutes

STDs rife among Tangerang prostitutes JAKARTA (JP): Womanizers beware! Most prostitutes operating in Tangerang mayoralty are believed to have sexually transmitted diseases, an official said. Mayoralty spokesman Harry Mulya Zein said on Tuesday that medical checkups on 41 prostitutes who were rounded up in a special operation revealed that many prostitutes were diseased.

Response to TGPF report vital to recover confidence

Response to TGPF report vital to recover confidence JAKARTA (JP): Human rights activists and the international community are warning that the government's response to a joint fact-finding team's report on the May riots will make or break its quest to restore confidence. Known as TGPF, the team released on Tuesday its report, which included a finding implicating members and elements of the Armed Forces in the riots. Ita F.

China's Asiad athletes face doping tests

China's Asiad athletes face doping tests BEIJING (Agencies): China plans to subject athletes to unscheduled doping tests before they compete at the next month's Asian Games in Bangkok, sports officials said Thursday. Doping tests will focus particularly on "important events like swimming, athletics and cycling," said Li Furong, deputy head of a 822-member delegation that China will send to the games. "We will definitely carry out some unscheduled tests," he said.

TV Program: Friday, Nov. 6, 1998

TV Program: Friday, Nov. 6, 1998 TVRI 2:00 p.m. News: Berita 14 2:30 Music 2:35 Cartoon: Warner Kartun 3:05 Sports Program 3:30 Village Program 4:00 Regional News 4:30 Performance: Cakrawala Budaya 5:00 Music: Paket 27 5:30 Education Quiz: Cerdas Cermat 6:00 News: Lintasan Berita 6:05 Documentary: Rona Nusantara 6:15 Sports News 6:30 TVRI News (in English) 7:00 Evening News 7:35 Entertainment News: Lintasan Sinetron 8:00 News: Lintasan Berita 8:05 Technology Program: Dunia Teknologi 8:30 Talk...

Industry survey shows grave impact of crisis

Industry survey shows grave impact of crisis JAKARTA (JP): More than one-third of companies operating in the electronics, machinery, chemical and metal-based industries have temporarily closed their operations as a result of the country's worst ever economic crisis, a survey has revealed.

Thais lead 1st round of Putra Cup

Thais lead 1st round of Putra Cup MANILA (AP): Tongchai Jaidee and Songphan Puakkprapong each scored 1-under-par 71s to put Thailand into an early lead in the first round of the 38th Putra Cup. Thailand, the defending champion, led with 214 and was eight strokes ahead of second place Malaysia with 222. Indonesia and Hong Kong tied for third spot with 228 each. The Philippines was in fourth place with 230, followed by Singapore with 234, Papua New Guinea with 244 and Brunei with 257.

MGTI to install 30,000 new telephone lines

MGTI to install 30,000 new telephone lines JAKARTA (JP): PT Mitra Global Telekomunikasi Indonesia (MGTI) said on Thursday it would install 30,000 new telephone lines in Central Java and Yogyakarta by March to bring up a total of 350,000 lines. MGTI president Eddy Hadijanto said the company, one of the five consortia which won joint operation with the state-owned PT Telkom, has put in 324,238 telephone lines in those areas as of Oct. 25.

Asian recovery seen dependent on Japan aid

Asian recovery seen dependent on Japan aid BANGKOK (Reuters): Japan's assistance for crisis-hit Southeast Asian countries under the Miyazawa Plan could serve as a catalyst for a revival of foreign capital flows to the region, a senior Asian Development Bank economist said on Thursday. But ADB chief economist Jungsoo Lee said governments and financial sectors in troubled Asian nations must also display determination to sustain structural reforms needed for them to ride out the turmoil.

Where to go in Jakarta: Friday, Nov. 6, 1998

Where to go in Jakarta: Friday, Nov. 6, 1998 Exhibitions * Etching Exhibition, by Rembdrant, from the collection of Boijmans Van Beuningen Museum, Rotterdam, at Erasmus Huis, Jl. Rasuna Said, Kav. S-3, Kuningan, South Jakarta (Phone: 5252321), 8 a.m. to 5 p.m., until Dec. 6. * Photo Exhibition: Kontemplasi, by Maya S Ibrahim, Sadlie Abdullah, etc, at Galeri Fotojurnalistik Antara, Jl. Antara No. 59 Pasar Baru, Central Jakarta (Phone: 3458771), daily (except Monday), 11:30 a.m.

Digital technology powering 'Metro' into highly competitive news niche

Digital technology powering 'Metro' into highly competitive news niche By Antariksawan Jusuf JAKARTA (JP): Is it too much of a dream to watch Indonesian movies on American cable HBO? Considering the current situation of the Indonesian film and television industry, you will definitely say "No way." But not Sumita Tobing. Tobing is embarking upon her ambitious plan with a new television station Metro TV, whose investment totaling US$20 million is backed by businessman Surya Paloh.

Secondhand plastic bottles dangerous

Secondhand plastic bottles dangerous With the increase of the price of plastic bottles two or three fold since early 1998, several brands of small-pack bottled water in Greater Jakarta are using used bottles. In accordance with the Ministry of Industry and Trade's regulation No.167/MPP/KEP/5/97, of May 28, 1997, plastic drinking-water bottles (BDW) are prohibited to be reused, except for 5 gallon PC (polycarbonate) bottles.

SCB inaugurates branch

SCB inaugurates branch JAKARTA (JP): London-based Standard Chartered Bank (SCB) officially inaugurated on Thursday its newly renovated branch in Medan, North Sumatra. SCB's Head of Consumer Banking Indonesia Farhad Irani said that SCB's investment in Medan reflected the bank's commitment to Indonesia and to Medan in particular during the current turbulent times.

Clinton to take growth plan to APEC summit

Clinton to take growth plan to APEC summit SINGAPORE (Reuters): U.S. President Bill Clinton will bring his plan for world growth to the APEC summit in Kuala Lumpur later this month, a senior U.S. official said on Thursday. John Wolf, U.S. coordinator for the Asia-Pacific Economic Cooperation (APEC) forum, said the summit would also focus on broadening trade liberalization and study the role of short-term capital.

Conflict of interests mar final report of TPGF

Conflict of interests mar final report of TPGF The final report of the joint fact-finding team, known by its acronym TGPF, on the mid-May riots has drawn mixed reactions from different parties. Hermawan Sulistiyo, a political researcher at the Indonesian Institute of Sciences (LIPI), and was chairman of the assistance team for TGPF, discusses why the report is so contentious. Question: How did TGPF produce such a controversial report which has drawn criticism from so many parties?

Peaceful essential for democracy

Peaceful essential for democracy JAKARTA (JP): All but the beneficiaries of the old authoritarian regime would agree that Indonesia should develop a more democratic political system. However, given the fact that freedom of expression has been widely misunderstood as "political violence", there is an urgency to work out a peaceful transition to democracy. Indonesians need public order as much as they need democracy.

Mahathir, Estrada no bilateral meeting

Mahathir, Estrada no bilateral meeting MANILA (AFP): There will be no bilateral meeting between Philippine President Joseph Estrada and Malaysian Prime Minister Mahathir Mohamad during an Asia-Pacific leaders' summit in Kuala Lumpur this month, Manila's top diplomat said on Thursday. "We have never asked for a bilateral meeting," Philippine Foreign Secretary Domingo Siazon told reporters.

Unrest rumors fail to trigger foreign flight

Unrest rumors fail to trigger foreign flight JAKARTA (JP): Travel industry insiders said on Thursday there had been no exodus to foreign destinations despite widespread rumors of unrest before the Special Session of the People's Consultative Assembly (MPR) opening on Nov. 10. The number of outbound travelers displayed no unusual characteristics in recent days, they said.

Moslem unity is pivotal

Moslem unity is pivotal The five-day Indonesian Moslem Congress currently underway in Jakarta was not meant to be a political meeting but Minister of Religious Affairs Malik Fajar said in his opening speech that by the end of it all Moslems should have a common perception of where they stand on a myriad of moral, social and political issues.

Qantas adds to Bali flights

Qantas adds to Bali flights JAKARTA (JP): Australian flag carrier Qantas Airways reports record business to Bali with a sharp upturn in demand this year. Qantas's Sales Manager Indonesia, Ronny Mampouw said that the airline has added another flight from Sydney to Bali, starting Oct. 31, to cater to the demand. The additional flight brings up a total of 14 flights a week from Australia to Bali.

Conversion Rates

Conversion Rates Bank Bali's conversion rates on Nov. 5, 1998: TT rates Bank notes rates Buying Selling Buying Selling Rp Rp Rp Rp U.S. dollar 1 8,875.00 8,975.00 8,875.00 9,075.00 Austrian schilling 1 716.25 786.25 - - Australian dollar 1 5,457.50 5,717.50 5,400.00 5,830.00 Belgian franc 1 240.60 265.60 - - Brunei dollar 1 - - 5,340.00 5,665.00 Canadian dollar 1 5,650.25 5,930.25 5,700.00 6,200.00 Swiss franc 1 6,333.10 6,613.10 6,200.00 6,700.00 Deutschemark 1 5,152.50 5,412.50 5,090.00 5,490.

MPR officials claim no electricity in barbed wire

MPR officials claim no electricity in barbed wire JAKARTA (JP): Officials said on Thursday that pranksters were responsible for placing signs warning of electrified barbed wire at the People's Consultative Assembly/House of Representatives (MPR/DPR) compound. The barbed wire and the signs -- publicized in front-page photographs in The Jakarta Post and Media Indonesia daily on Thursday -- remained in place on Thursday afternoon.

What has made us reluctant to investigate?

What has made us reluctant to investigate? By Adrianus Meliala BRISBANE, Australia (JP): In the words of Rendra, one of the most important artists in contemporary Indonesia, this country has developed a "reluctance to investigate" mentality (Kompas, Oct. 27 1998). At the root of it, he suspects, is our failure to respect the supremacy of the law and the principle of legal certainty as standing above anything else.

Jamsostek helps dismissed workers

Jamsostek helps dismissed workers JAKARTA (JP): About 260 dismissed workers in Bekasi received Rp 52 million (US$6,000) in aid from state-owned PT Jamsostek to help them survive during the economic crisis, a company official said on Thursday. "Jamsostek will never keep silent over workers who have been dismissed due to the crisis. Even though the amount is small, the aid is expected to be helpful for them," Yusuf Raden, the firm's director of operations, said.

APEC meeting must focus on solving crisis: Mari

APEC meeting must focus on solving crisis: Mari JAKARTA (JP): When the Asia Pacific Economic Cooperation (APEC) forum holds its meeting in Kuala Lumpur later this month it must focus on efforts to restore the economies of its crisis- hit members rather than on trade and investment liberalization issues.

Soeharto grandson loses briquette deal

Soeharto grandson loses briquette deal JAKARTA (JP): State coal mining company PT Tambang Batubara Bukit Asam has terminated a contract with Ari Sigit Hardjodjudanto -- a grandson of former president Soeharto -- for the construction of five coal briquette factories in Java. Director General of Mining at the Ministry of Mines and Energy Rozik Boedioro Soetjipto said on Thursday the firm took the action after receiving the government's approval.

Tanjung Manis inspires artists from near, far

Tanjung Manis inspires artists from near, far By Gotot Prakosa JAKARTA (JP): If we look at the maps of Kalimantan from any period, we will find that there are always new names and locations of villages while the old villages somehow cease to exist. This is due to the region's nomadic tribal culture. Every time one of the Dayak tribes migrate to a new location, they establish a new name for it.

500 Bekasi scavengers receive free medical aid

500 Bekasi scavengers receive free medical aid BEKASI (JP): About 500 of the 6,000 scavengers living around Bantar Gebang garbage dump in Bekasi, east of here, were given free medical services by the government on Thursday. With coupons in their hands, the scavengers -- mostly women and children -- packed the medical post to get treatment for ailments consisting mainly of skin diseases, diarrhea and lung infections.

KL, Singapore to narrow gap in thorny ties

KL, Singapore to narrow gap in thorny ties KUALA LUMPUR (AFP): Malaysia and Singapore agreed on Thursday to work towards narrowing their differences as Kuala Lumpur sought its neighbor's help to raise funds amid the economic crisis. Singapore Prime Minister Goh Chok Tong made a surprise visit here and held nearly two-hour talks with his Malaysian counterpart Mahathir Mohamad to discuss often thorny relations which hit a new low in recent months.

Top bosses at Bank DKI to get walking papers

Top bosses at Bank DKI to get walking papers JAKARTA (JP): Governor Sutiyoso said on Thursday he would soon replace three top officials of city-owned Bank DKI due to their alleged mismanagement which saddled the bank with Rp 172 billion in bad credit. Sutiyoso said the three to be replaced would be bank president Soeharto, director of general affairs Djunaidy Albaghdady and director of marketing Bassar Soetardjo, who is also in charge of channeling loans.

Saga sells Jambi block

Saga sells Jambi block OSLO (Dow Jones): Norwegian upstream oil company Saga Petroleum ASA said Thursday it has sold its stake in the Jambi Merang block in Indonesia to YPF Indonesia Ltd. and Amerada Hess Limited for NOK133 million (US$17.7 million). The sale is subject to approval from Indonesian authorities and marks an end to Saga's operations in the country, as the company has said it wants to concentrate on other regions.

Govt to learn from green activists: Habibie

Govt to learn from green activists: Habibie JAKARTA (JP): President B.J. Habibie suggested on Thursday that the government and the public learn from some award-winning environmental activists, many of whom are unschooled, who had selflessly translated ideals into actions in the promotion of the environment. The President said the failure of the government's campaign to improve environmental protection could be seen by the public's poor environmental awareness.

Amien alleges Soeharto role in Java murder spree

Amien alleges Soeharto role in Java murder spree JAKARTA (JP): Chairman of the Indonesian Mandate Party (PAN) Amien Rais alleged on Thursday that former president Soeharto was involved in the killings of almost 200 Moslem preachers and people accused of practicing black magic in a wave of murders that has swept Java. Acknowledging that he did not have enough proof to support his claim, Amien suggested that Soeharto's motive was to divert people's anger away from him and his cronies.

Stock Exchange

Stock Exchange Stock prices on the Jakarta Stock Exchange (in rupiah) on Nov. 5, 1998: -------------------------------------------------------- Shares Close Change Trading Volume -------------------------------------------------------- Ades Alfindo 225 0 0 AHAP Insurance 400 0 0 Alter Abadi 275 25 27,500 Alumindo Light Metal 250 25 5,000 Alumindo Perkasa 125 0 0 Aneka Kimia Raya 150 25 500 Aneka Tambang 1,575 50 48,212,500 Anwar Sierad 100 0 0 Apac Centertex Corp.

Man killed in argument over politics

Man killed in argument over politics JAKARTA (JP): A man was beaten to death in Cipinang Jaya, East Jakarta early on Thursday morning following a heated argument on the latest developments in the country's political condition. The victim, identified as Murtak, 31, died at Persahabatan Hospital in Rawamangun about nine hours after the incident in which he suffered severe wounds to the head, Tito, 20, one of his neighbors, said.

Andrean beats Indian chess ace

Andrean beats Indian chess ace JAKARTA (JP): Indonesian junior chess player Andrean Susiladinata toppled Indian ace Abhijeet Gupta on Wednesday to open up his chance to finish among the top three at the World Age Group Chess Championships in Oropesa Del Mar, Spain. Playing in the under-10 category, Andrean, 8, forced Gupta to resign in the 32nd move of their ninth-round match. The victory lifted Andrean to eighth in the provisional standings on 6.5 points.

Gas pipeline opening canceled

Gas pipeline opening canceled JAKARTA (JP): President B.J. Habibie canceled on Thursday the planned dedication of a gas pipeline in central Sumatra owned by state gas distribution company PT Perusahaan Gas Negara (PGN) following a land dispute involving one of the company's clients. The president was scheduled to dedicate the operation of the 536-kilometer gas pipeline Thursday morning from the Bina Graha presidential office.

Intercontinental cuts deal

Intercontinental cuts deal JAKARTA (JP): Publicly listed PT Jakarta International Hotels and Development (JIHD), the owner of the five-star Hotel Borobudur Intercontinental Jakarta announced on Thursday that international hotel chain Intercontinental Hotels and Resorts will stop managing the hotel as of Jan.1, 1999. The company said that the two parties, after considerable discussion, have cordially agreed not to extend the present management contract, which expires on Dec. 31 this year.

Norway helps with Braille equipment

Norway helps with Braille equipment JAKARTA (JP): A three-year project to develop the use of Braille in seven blind resource centers and 40 special schools around the country was officially launched on Thursday.

Mar'ie: Provinces must be given the widest possible autonomy'

Mar'ie: Provinces must be given the widest possible autonomy' JAKARTA (JP): Former minister of finance Mar'ie Muhammad said on Thursday that he supported autonomy for the provinces as it would help avoid a repetition of the neglect experienced by provinces outside Java and Bali.

Ancient Javanese shadow drama set for English performance

Ancient Javanese shadow drama set for English performance By Ton Bintoro JAKARTA (JP): The scene is set. The tree of life spins around and is planted upright in the middle of the screen. The music begins with a trance-like beat. And so dawns a drama from an ancient time, where the shadow world is not separate from the material world.

Loss of authority

Loss of authority From Sinar Pagi B.J. Habibie's is a transitional government. Since its induction it has come in for sharp criticism by the community and will again in the future. Habibie himself is not a leading figure in society and does not quite fit the bill of an authoritative leader, especially because many of his regulations have caused anxiety and other ills.

State banks bolster weak rupiah

State banks bolster weak rupiah JAKARTA (JP): The rupiah remained under pressure on Thursday, breaking through the 9,000 barrier against the U.S. dollar before bouncing back to close the day at 8,600 after massive intervention by state banks. Financial analysts said that fears of political chaos ahead of the special session of the People's Consultative Assembly (MPR) next week remained the key factor in the rupiah's downturn.

Most trade financing schemes 'not utilized'

Most trade financing schemes 'not utilized' JAKARTA (JP): Most of the trade financing facilities obtained by the government from several donor countries has not been fully utilized by local banks to help restore import activities, according to the government. A Ministry of Industry and Trade report says the government has obtained US$5.77 billion for a trade financing scheme, which includes a letter of credit (L/C) guarantee and pre-export financing facilities.

Flooding spreads to Kebumen

Flooding spreads to Kebumen KEBUMEN, Central Java: More than 3,000 hectares of paddy were damaged and dozens of villages in three subdistricts inundated in flooding that hit the Kebumen regency following incessant rain since Tuesday. No casualties were reported. Thousands of students have not been able to go to school because of the floods. (45)