Indonesian Political, Business & Finance News

Archive: 18 December 1998

60 articles found

New security team for illegal rally

New security team for illegal rally JAKARTA (JP): The city security authorities have set up a special 1,000-member task force to maintain the implementation of Law No. 9/1998 on freedom of expression, a police officer said. City police spokesman Lt. Col. Edward Aritonang said on Tuesday that the Satgas Justisia team whose personnel included the military police, police and soldiers are allowed to use the standard police formal procedure to disperse demonstrators.

PT Kimia Farma provides reputable services and products

PT Kimia Farma provides reputable services and products PT (PERSERO) KIMIA FARMA Kimia Farma began in 1817 as a Dutch company called NV Chemicalien Handel Rathkamp & Co. After various name changes and the Indonesian government's nationalization of all Dutch pharmaceutical companies in 1958, it became PT (Persero) Kimia Farma on Aug. 16, 1971, a state-owned company. Its Research and Technology Division was officially inaugurated by the minister of health in July 1991.

Guan's big leap takes China to magic 100

Guan's big leap takes China to magic 100 BANGKOK (AFP): Long jumper Guan Yingnan took China to a century of gold medals at the Bangkok Asian Games on Thursday -- but her team's accusations of attempted bribery cast a dark cloud over celebrations. Guan shed tears of pride as the "March of the Volunteers" anthem was played for the 100th time on the 12th day of competition, though her country has made agonizingly slow progress in the past two days.

Bank Exim gets penalty

Bank Exim gets penalty WASHINGTON (Dow Jones): The Federal Reserve said Wednesday it had issued $100,000 in monetary penalties against an Indonesian bank and its New York agency. The Fed said it issued the penalty against Bank Ekspor Impor Indonesia (Bank Exim) of Jakarta in connection with allegations the bank had failed to comply with a 1994 written agreement with the Federal Reserve Bank of New York and the New York Superintendent of Banks.

City chiefs rapped for pussyfooting on official graft

City chiefs rapped for pussyfooting on official graft JAKARTA (JP): The Jakarta City Council criticized the administration on Thursday for its reluctance to thoroughly publicize malfeasance committed by officials. Speaking in a yearend press conference, the council's head Edy Waluyo said the most visible unwillingness of the city administration to show up their dishonest employees is in the works of the specially-designed reform team.

Losing money

Losing money Customers of Bank Dagang Negara (BDN), like myself, stand to lose vast amounts of money through fraud that seems to be taking place at the bank. Here is my story. On Dec. 10, 1998 at 11:30 a.m., I personally went to the BDN branch at Wisma Alia in Menteng, Central Jakarta, to withdraw Rp 30 million. I was handed the cash in packs of Rp 5 million each, a total of six packs. Before handing the packs to me the cashier used a money counting machine to count each pack.

Three held in Medan labor protests

Three held in Medan labor protests MEDAN (JP): Police fired warning shots on Thursday and arrested three people in a day of protests involving land tillers and plantation workers. Early in the day about 2,500 workers of PT Perkebunan Nusantara II Tanjung Morawa in Deli Serdang rallied at the North Sumatra legislature.

Veteran Yayuk courts triumph in twilight on tennis curcuit

Veteran Yayuk courts triumph in twilight on tennis curcuit BANGKOK (JP): It is always every athlete's dream to end their career on a high note, let alone with laurels that confirm their illustriousness. Yayuk Basuki crowned herself the Asian Games women's tennis singles champion by beating home favorite Tamarine Tanasugarn 6- 4, 6-2 on Thursday as she bade a farewell to the sport which for years has brought her fame and accolades.

IMF sees worst over for Thailand and South Korea

IMF sees worst over for Thailand and South Korea WASHINGTON (Reuters): The worst is over for Thailand and South Korea after last year's economic crises and Indonesia should soon follow them on the path back toward growth, a senior IMF official said on Wednesday. "I think all of Asia is benefiting from improved market sentiment, and this you see strongly in countries like Thailand and Korea," Anoop Singh, deputy director of the IMF's Asia and Pacific region told Reuters.

Novartis at vanguard in raising public awareness

Novartis at vanguard in raising public awareness NOVARTIS Pharmaceuticals have not been spared by the economic crisis. Robby Tiowidjaja, Sales and Marketing Director of Novartis, a Swiss multinational pharmaceutical firm, agreed that the effects were hard-felt because most prices of drug supplies and components had increased. This has contributed to a drop in production.

Habibie seeks review of forestry policies

Habibie seeks review of forestry policies JAKARTA (JP): President B.J. Habibie on Thursday sought a review of government policies on the exploitation of forests, which he said had so far benefited only certain groups. "In this reform era, we have to review our policies on forest exploitation (to protect) public interests," he said at the commemoration of National Natural Conservation and Reforestation Day.

Conversion Rates

Conversion Rates Bank Bali's conversion rates on Dec. 17,1998: TT rates Bank notes rates Buying Selling Buying Selling Rp Rp Rp Rp U.S. dollar 1 7,675.00 7,875.00 7,675.00 7,925.00 Austrian schilling 1 616.40 686.40 - - Australian dollar 1 4,688.50 4,948.50 4,705.00 5,055.00 Belgian franc 1 206.75 231.75 - - Brunei dollar 1 - - 4,515.00 4,790.00 Canadian dollar 1 4,847.00 5,127.00 4,800.00 5,200.00 Swiss franc 1 5,568.60 5,848.60 5,415.00 5,915.00 Deutschemark 1 4,463.30 4,723.30 4,375.00 4,775.

Redistribute assets lawfully to avoid suspicion: Kadin

Redistribute assets lawfully to avoid suspicion: Kadin JAKARTA (JP): The Indonesian Chamber of Commerce and Industry (Kadin) called on the government on Thursday to pursue legitimate ways to redistribute productive assets to avoid suspicion among foreign investors. Kadin chairman Aburizal Bakrie said that a lawful asset redistribution would be conducted through fair transactions, not through charity. "The way should be through purchases...

Pharmaceutical firms set to compete

Pharmaceutical firms set to compete DIRECTOR GENERAL OF FOOD AND DRUG SUPERVISION DR. H. SAMPOERNO, MBA The Directorate General of Food and Drug Supervision (DITJEN POM) is invested with a mission to protect the health of the general public and enhance the quality and image of medicine/pharmaceutical, food and cosmetic industries. The Ministry of Health's Director General of Food and Drug Supervision Dr. H.

Nokia expects bullish market in 1999

Nokia expects bullish market in 1999 JAKARTA (JP): Finland-based mobile phone producer Nokia is bullish about the Indonesian cellular market's prospects next year because it expects the country's economy to start recovering. The general manager of Nokia Mobile Phones Indonesia, Alexander Lambeek, said on Thursday that he was optimistic that the economic recovery would stimulate the cellular telephone market, which had been severely hurt by the country's worst ever economic crisis.

Steps to protect workers 'slow compared to promotion'

Steps to protect workers 'slow compared to promotion' JAKARTA (JP): The government's schedule for ratifying international conventions, including those on the protection of migrant workers, over the next few years was too slow compared to the aggressive promotion of the use of Indonesian workers overseas, an activist said Thursday.

Year's drama in photo display

Year's drama in photo display JAKARTA (JP): Forty works by photojournalists showcasing the country's most dramatic moments of the year -- starting from the resignation of Soeharto to the fatal shooting at Semanggi cloverleaf -- will go on display at Antara Press Photo Gallery beginning Friday. The Indonesian Photojournalists Association said works to be displayed during the Dec. 18 to Jan.

BPN to help farmers settle land dispute

BPN to help farmers settle land dispute JAKARTA (JP): State Minister of Agrarian Affairs/Chairman of the National Land Agency (BPN) Hasan Basri Durin promised on Wednesday to help settle a land dispute between residents of Malasari village in Bogor and farming company PT Nirmala Agung. Muhammad Sukendar, representing 360 Malasari farmers, said that Hasan promised to hold the talks involving representatives of the farmers and the firm as soon as possible.

WB sees RI's debt service ratio level still manageable

WB sees RI's debt service ratio level still manageable JAKARTA (JP): World Bank country director Dennis de Tray said on Thursday that Indonesia's nearly 50 percent debt service ratio in the current 1998/1999 fiscal year was still manageable, although it had risen to an alarming level.

Many S. African buyers switch into RI market

Many S. African buyers switch into RI market JAKARTA (JP): Local firms can capitalize from the many South African importers switching their focus here in the wake of the rupiah's dramatic depreciation, the country's envoy said on Thursday. The South African ambassador B.S. Kubheka said the plummeting value of the rupiah against the greenback rendered Indonesian products much cheaper for his country's importers.

Hapless house buyers want down payment

Hapless house buyers want down payment JAKARTA (JP): Hundreds of customers of Bumi Indah housing complex in Tangerang intensified their struggle on Thursday to regain the down payments of between Rp 5 million (US$666) and Rp 8 million they paid to the site's developer. Forty of their representatives visited the Jakarta Legal Aid Institute on Thursday to seek help in their dispute with developer PT Prasetia Pertiwi, a member of the Bank Harapan Sentosa (BHS) group.

Testing time again for rupiah, local stocks down 1.7 percent

Testing time again for rupiah, local stocks down 1.7 percent JAKARTA (JP): The rupiah wavered on Thursday to close at 7,800 against the U.S. dollar from the previous day's Rp 7,600, partly due to a resurgence in speculative trading, analysts said. Local stocks also lost ground to end 1.7 percent lower on profit taking.

Drug knowledge lacking among Indonesian public

Drug knowledge lacking among Indonesian public Unfortunately, an apple a day is often not enough to keep the doctor away when illness cramps your style. Many Indonesians choose to resort to traditional medicine for what ails them, and the herbal concoctions may indeed do the trick for more common ailments. But when an infection refuses to run its course, and persistently keeps you running on low, it is probably time to resort to a course of pharmaceutical drugs.

Stock Exchange

Stock Exchange Stock prices on the Jakarta Stock Exchange (in rupiah) on Dec. 17, 1998: Shares Close Change Trading Volume -------------------------------------------------------- Ades Alfindo 500 0 0 AHAP Insurance 400 0 0 Alter Abadi 300 0 94,000 Alumindo Light Metal 350 0 122,500 Alumindo Perkasa 125 0 0 Aneka Kimia Raya 225 0 0 Aneka Tambang 1,600 -50 992,000 Anwar Sierad 125 0 0 Apac Centertex Corp.

S'pore, KL work to end water rift

S'pore, KL work to end water rift HANOI (AP): Malaysia and Singapore said on Thursday they had agreed to link an extension of their water-supply deal with other issues. Singapore, an island state, relies on Malaysia for water. The 100-year deal does not expire until 2061, but there already have been preliminary discussions on whether and how to extend it.

Indonesia's minorities

Indonesia's minorities Once again the Christians of the world, and with them many others, are about to celebrate Christmas, also known as the feast of peace. Peace, unfortunately, is something that cannot be found in too many places on earth. Day by day one reads about wars, skirmishes, ethnic cleansing, the murder of innocents, etc., etc. A gruesome tale of bloody horrors.

WB delays additional $1 billion loan to RI

WB delays additional $1 billion loan to RI JAKARTA (JP): The World Bank has decided not to go ahead with plans to provide Indonesia with an additional US$1 billion loan in this fiscal year due to a narrowing of the country's budget deficit.

Can television help to revive local films?

Can television help to revive local films? By Antariksawan Jusuf JAKARTA (JP): The third annual French Movie Festival in Jakarta ended two weeks ago, but the impact remains. There are a lot of things Indonesian movie makers can learn from their French counterparts to help bring about "the resurrection of Indonesian films".

Hun Sen hopes for full ASEAN admission soon

Hun Sen hopes for full ASEAN admission soon HANOI (AFP): Cambodian Prime Minister Hun Sen hopes his country can be admitted into ASEAN soon, comparing the process to a wedding ceremony for a registered marriage, an official army newspaper said here on Thursday. "We hope that the admission of Cambodia will happen soon and as was decided by ASEAN leaders, the ceremony will take place in Hanoi," Hun Sen said in an interview with the Quan Doi Nhan Dan newspaper.

Be wary of reform distractions: Arbi

Be wary of reform distractions: Arbi JAKARTA (JP): Superfluous issues thrown out to knock the reform movement off track can only be overcome through cooperation between campuses, political parties and the public, a political expert said on Thursday.

Ricky and Rexy salvage RI's badminton pride

Ricky and Rexy salvage RI's badminton pride BANGKOK (JP): Olympic badminton men's doubles champions Ricky Ahmad Subagja and Rexy Ronald Mainaky retained their Asian Games crown on Thursday to restore Indonesia's pride after two other gold medals up for grabs slipped through the badminton team's fingers earlier in the day.

Over 90 injured in student-military clash

Over 90 injured in student-military clash JAKARTA (JP): At least 80 protesting students and 14 security personnel were injured during a serious clash between police and soldiers at a joint rally of some 4,000 students near the House of Representatives building on Thursday. As of late last night two students, including a female, had suffered gunshot wounds in their back. The two, identified as Indria of Tarakanita College and Iyan Suliva of Pancasila University, were treated at the St.

Yayuk nears end of career with Asian Games gold

Yayuk nears end of career with Asian Games gold By Primastuti Handayani BANGKOK (JP): Indonesian number one Yayuk Basuki closed the penultimate chapter in her career and contributed another gold to her country by making short work of hometown favorite Tamarine Tanasugarn in the women's singles final of the 13th Asian Games. As Tamarine failed to return a powerful Yayuk serve on match point, the 28-year-old Indonesian raised both arms to signify her 6-4, 6-2 win in 90 minutes.

BDN responds

BDN responds In response to our customer's complaint about the loss of some money from a withdrawal from our Wisma Alia branch, we would like to clarify as follows: * On Thursday, Dec. 10, 1998, the customer withdrew Rp 30 million in cash, and the money was received by the customer after the money was counted by a money counting machine in the presence of the customer. The customer was satisfied that each pack contained 100 notes. * On Tuesday, Dec.

Soldiers warned to be vigilant against provocation

Soldiers warned to be vigilant against provocation JAKARTA (JP): President B.J. Habibie on Thursday warned soldiers that provocation directed at them could be aimed at disrupting national unity. Addressing the graduation of 968 young officers of the Armed Forces Academy's (AKABRI) class of 1998, Habibie noted major changes in the country which were marked by upheaval.

Visa introduces its first debit card in Indonesia

Visa introduces its first debit card in Indonesia JAKARTA (JP): Visa International introduced its first Visa Electron debit card in Indonesia on Thursday in cooperation with state Bank Negara Indonesia (BNI). Executive Vice President of Visa International for Southeast Asia James G. Murray said that Indonesia, with its about 60 million bank depositors, is a promising market for debit cards.

Passengers rob taxi drivers in two separate incidents

Passengers rob taxi drivers in two separate incidents JAKARTA (JP): Two taxi drivers were wounded, one severely, in separate robberies in East and South Jakarta over the last two days, city police spokesman Lt. Col. Edward Aritonang said on Thursday. The victim who was severely wounded was identified as Hendro Susilo, a Gamya taxi driver, while the other victim, a driver for Batavia taxi, had been identified as Marjuki, Aritonang said.

RI regrets air strikes

RI regrets air strikes JAKARTA (JP): The Ministry of Foreign Affairs made the following statement on Thursday on the Iraqi situation: "The government of Indonesia regrets the use of armed force against Iraq by the United States and Britain in implementing the UN Resolution on Mass Destructive Weapons, especially since they were carried out without prior consultations with the only international organization authorized to set such a policy, namely the United Nations Security Council." "The...

ARCO plans to shed staff for efficiency

ARCO plans to shed staff for efficiency JAKARTA (JP): Atlantic Richfield Indonesia Inc. (ARII), a unit of the giant United States energy company Atlantic Richfield (ARCO) plans to shed employees as part of an efficiency program. Head of the foreign contractors management body at state oil and gas Pertamina Gatot K.

YLKI cautions against purchasing expired foods

YLKI cautions against purchasing expired foods JAKARTA (JP): In the light of traditions of exchanging gift packages for Christmas and Idul Fitri, the Indonesian Consumers Foundation (YLKI) has reiterated its cautionary warning on the purchasing of foodstuffs, including imported products. In a discussion on imported foodstuffs, YLKI presented on Thursday the results of its survey carried out in seven provincial capitals.

Blind Susanti navigates city's tests with tenacity

Blind Susanti navigates city's tests with tenacity JAKARTA (JP): Where there's a will, there's a way. That is the adage Susanti lives by as she braves the hard times which have hit the nation's capital. Instead of depending on others, Susanti, who is blind, has managed to remain self-reliant by selling popsicles. She was helped into her line of work by guidance she received at Rawinala school for the handicapped in East Jakarta. Susanti's eyesight was bad from an early age.

Mar'ie officially queried over Tommy's national car project

Mar'ie officially queried over Tommy's national car project JAKARTA (JP): Former finance minister Mar'ie Muhammad was questioned at the Attorney General's Office on Thursday over the national car project of former president Soeharto's youngest son, Hutomo "Tommy" Mandala Putra. He was questioned for more than five hours by a team of prosecutors led by Sudibyo Saleh, the head of the center for intelligence operations.

DPR empowers itself with subpoena rights

DPR empowers itself with subpoena rights JAKARTA (JP): The House of Representatives (DPR) on Thursday decided to give itself the right to subpoena citizens, including the president, and to impose one year prison sentences on those who fail to meet its summons. The House entered a clause covering the issue into the government-sponsored bill on the structure of the country's legislatures that it is currently deliberating.

Government asked to lift gas subsidies for fertilizer plants

Government asked to lift gas subsidies for fertilizer plants JAKARTA (JP): State oil and gas company Pertamina has asked the government to allow it to lift subsidies on natural gas supplied to fertilizer plants following the government's recent decision to end subsidies on fertilizers.

Net forex reserves rise to $14.28b

Net forex reserves rise to $14.28b JAKARTA (JP): Bank Indonesia's (BI) net international reserves rose by US$13.7 million to $14.28 billion in the week ending Dec. 15 from the previous week's $14.27 billion, the central bank announced on Thursday. Bank Indonesia attributed the surge in the net international reserves to disbursement of foreign loans and foreign exchange revenue from oil and natural gas exports.

Strike at Iraq pulls Asian monies

Strike at Iraq pulls Asian monies SINGAPORE (Dow Jones): The U.S. strikes against Iraq and the dismal results of the Financial Sector Restructuring Authority auction in Thailand combined to drag Southeast Asian currencies lower against the U.S. dollar during Asian trading hours on Thursday. In a knee-jerk reaction to the overnight air strikes, market participants bought U.S. dollars at the start of Asian trading to cover their short dollar positions against the regional currencies.

The joy of letter writing

The joy of letter writing There is no doubt about it. Many readers of The Jakarta Post do indeed stop to read the Your Letters column. Even the "not-so- serious" readers, who just browse through the newspaper every morning, apparently take an interest in this column, if a letter is penned by any of their favorite writers. In any case, isn't it a pleasure, going through someone's letter, though in a newspaper, like peeping into your neighbor's home?

Single currency distant prospect for ASEAN states

Single currency distant prospect for ASEAN states By Olaf Jahn HONG KONG (DPA): ASEAN, the Association of South-East Asian Nations, is in the throes of a crisis. Its leaders may have smiled brightly at the end of their summit meeting in Hanoi, but smiles could not belie the seriousness of the crisis. Given the region's far-reaching economic problems the nine ASEAN member-states may have been able to agree on a number of positive projects, but they failed to agree on any kind of grand design.

Where to go in Jakarta:

Where to go in Jakarta: Exhibitions * Fine Arts Exhibition: by Gotot Prakosa, at Galeri Cipta II, Taman Ismail Marzuki, Jl. Cikini Raya 73, Central Jakarta (Phone: 3140554), 10 a.m. to 9 p.m., Dec. 18-28. * Photo Exhibition: Face to Face: Indonesia and Britain, at World Trade Center, Jl. Jend. Sudirman Kav. 29-31, South Jakarta (Phone: 5211320), 10 a.m. to 6 p.m., Dec. 18. * Photo Exhibition: Dari Lengser Sampai Semanggi, at Galeri Foto Jurnalistik Antara, Jl. Antara No.

Balinese demand Tommy make good on promises

Balinese demand Tommy make good on promises By Putu Wirata DENPASAR, Bali (JP): Uncertainty shrouds the lives of hundreds of farmers forced to vacate their land for a megaproject under the youngest son of former president Soeharto. They say compensation has not been forthcoming from PT Bali Pecatu Graha (BPG), headed by Hutomo "Tommy" Mandala Putra.

PAN to employ big names for campaign

PAN to employ big names for campaign BANDUNG (JP): The National Mandate Party (PAN) is recruiting noted political scientists Ichlasul Amal, Afan Gaffar, Mochtar Mas'ud and Syamsu Rizal Panggabean along with almost 300 other people to campaign for it in the election next June. Party official Masrudin said the scientists and others to be recruited "have the potential to attract votes...

Over 2,000 beggars to come to the city

Over 2,000 beggars to come to the city JAKARTA (JP): The number of seasonal beggars flocking to the capital during the Ramadhan fasting month, which will start on Sunday, is projected to remain at about 2,000, an official of the city social service office said on Thursday. H.

RI firm seeks arbitration

RI firm seeks arbitration SINGAPORE (Dow Jones): Indonesia's Asia Pulp & Paper Co. (APP) has filed a notice of arbitration in Singapore against Beloit Asia Pacific, the company said in a statement released late Wednesday. The Indonesian pulp and paper maker will seek arbitration for the refund of some $46 million paid to Beloit Asia for two large, fine paper machines, and a declaration that Beloit Asia breached its financing obligations under the purchase contracts.

RP beef up security around U.S. facilities

RP beef up security around U.S. facilities MANILA (AP): Police stepped up security around the U.S. Embassy and other American facilities in the Philippines on Thursday to prevent retaliatory terrorist attacks after Washington ordered missile strikes on Iraq. "All U.S. installations have been adequately secured even before the attack but still, we will beef up security," said national police chief Roberto Lastimoso.

Three Korean banks merge

Three Korean banks merge SEOUL (AFP): Three debt-ridden South Korean banks on Thursday announced they would merge to form a new institution boasting US$51 billion in assets and an expected $2 billion in state capitalization. The announcement of plans to fuse Cho Hung Bank, Kangwon Bank and Hyundai International Merchant Bank came as South Korea rushed to complete its massive restructuring of the shattered financial sector by the end of the year.

Number of haj pilgrims falls by 70%

Number of haj pilgrims falls by 70% JAKARTA (JP): Registrations for the government-organized haj pilgrimage to Saudi Arabia have plummeted by almost 70 percent this year because of the economic crisis, a report said on Thursday. Only 61,226 Moslems had signed up for the haj program when registration closed on Wednesday, Antara said. Indonesia, with the world's largest Moslem population, sent 198,984 pilgrims in 1997. The registration deadline was extended twice this year.

Infrastructure, services support Enseval's success

Infrastructure, services support Enseval's success PT ENSEVAL PUTERA MEGATRADING Quick distribution of medicine to the public is no easy task. Apart from Indonesia's great geographic expanse, there is also the difficulty of sending goods on time. No such problem exists for PT Enseval Putera Megatrading. Because of its excellent capabilities and services, the largest of pharmaceutical distribution companies is also the best.

Four climbers missing

Four climbers missing PADANG (JP): Rescue workers are still searching for four climbers declared missing on Wednesday while climbing the Merapi mountain in Padangpanjang, 70 kilometers from Padang, West Sumatra. On Wednesday, three climbers, Ramadhan, Indra and Yeni were found with bruises and weak from lack of food. Ramadhan said the seven had met at the slope of Merapi on Sunday evening and the group had split up on the way down to the Pariangan village.

Industry to be foward-looking to compete

Industry to be foward-looking to compete CHAIRMAN OF THE INDONESIAN PHARMACEUTICAL COMPANIES ASSOCIATION ANTHONY CH. SOENARDJO There is no denying the great effect of the crisis upon the development of the national pharmaceutical sector. It has been primarily due to the fact that components of most pharmaceutical products -- between 50 percent and 95 percent, including ingredients, additives and packaging -- are imported.

Rights body, KWI refuse to join security council

Rights body, KWI refuse to join security council JAKARTA (JP): The National Commission on Human Rights and the Indonesian Bishops Conference (KWI) have refused to join the newly established Council for Enforcement of Security and Law, saying the council's mandate goes beyond their own function.