Archive: 24 December 1998
54 articles found
Thu, 24 Dec 1998, 00:00 WIB
New crime patterns emerge
New crime patterns emerge By Emmy Fitri JAKARTA (JP): Newly developed crime patterns ranging from looting to robberies targeting taxi drivers and passengers, along with a rising trend in other street crimes and scams involving U.S. dollars have given Jakarta a reputation as an unsafe place to be.
Thu, 24 Dec 1998, 00:00 WIB
PBSI to reshuffle national team
PBSI to reshuffle national team JAKARTA (JP): The Badminton Association of Indonesia (PBSI) plans to reshuffle its national players as it prepares to win gold medals at the 2000 Olympics Games in Sydney. PBSI secretary general Leo Chandra Wiranata said on Wednesday that the badminton body would decide after the first two world grand prix tournaments of the 1999 season which shuttlers would get the ax and which would receive calls up.
Thu, 24 Dec 1998, 00:00 WIB
KKM, creditors sign deal
KKM, creditors sign deal JAKARTA (JP): PT Kia Keramik Mas (KKM) and its creditors Deutsche Bank AG (DB) and International Finance Corporation (IFC) signed on Wednesday a standstill agreement as part of its debt restructuring program. IFC, a member of the World Bank Group, and DB, together the principal lenders to the company, agreed not to commence any legal proceedings during the period.
Thu, 24 Dec 1998, 00:00 WIB
Three arrested for rape in Bekasi
Three arrested for rape in Bekasi JAKARTA (JP): Acting on a tip-off from the victims, Bekasi police on Tuesday morning arrested three men believed to have robbed a couple and raped the woman a few hours earlier at the lonely Bekasi Stadium in Caringin Jaya subdistrict. According to police, the three -- Ruslan, 30, Feri Agustin Yohana, 28, and Iwan Wibawa, 24 -- first robbed LG, 49, and the woman SN, 34, before encircling the man's throat with a sickle while one of them raped SN.
Thu, 24 Dec 1998, 00:00 WIB
Kuda on market in March
Kuda on market in March JAKARTA (JP): PT Krama Yudha Tiga Berlian Motors, the sole distributor of Mitsubishi vehicles in the country, said on Wednesday it would start selling its newest product, the Kuda van, in March. The van, to be powered by a 1600-cc engine, will be available in the Super Exceed, GLS and GLX types. The company did not disclose the vehicle's price but said it would be "competitive".
Thu, 24 Dec 1998, 00:00 WIB
Big hotels offer special packages to lure visitors
Big hotels offer special packages to lure visitors JAKARTA (JP): Five-star hotels are trying their best to liven up the holiday spirit by offering lunch, dinner and buffets at special prices, and special room packages to help attract more guests during a season of slow business.
Thu, 24 Dec 1998, 00:00 WIB
Bank Bali needs Rp 1.4t for recapitalization
Bank Bali needs Rp 1.4t for recapitalization JAKARTA (JP): Publicly listed Bank Bali announced on Wednesday that its capital adequacy ratio (CAR) was minus 8.17 percent, based on a financial audit conducted by international auditors. The bank said that it needed a total of Rp 1.4 trillion to bring its CAR level to the 4 percent minimum requirement set by the government.
Thu, 24 Dec 1998, 00:00 WIB
Caltex boss named IPA president
Caltex boss named IPA president JAKARTA (JP): The president and chairman of the managing board of PT Caltex Pacific Indonesia (CPI), Baihaki H. Hakim, was recently elected the president of the board of directors of the Indonesian Petroleum Association (IPA) for 1999. The company announced that Baihaki would replace Ronald I. Wilson from Mobil Oil when he finishes his term at the end of the year. Baihaki and other officers were elected at the IPA general meeting in Jakarta.
Thu, 24 Dec 1998, 00:00 WIB
Are there Islamic hard-liners?
Are there Islamic hard-liners? From Pelita There could be no Muslim fundamentalists in this country. I, for one, do not believe in the existence of Islamic fundamentalists here. If such a group was in existence, I believe many figures who have done a lot in the interest of Islam would not be alive now. People like Maraden Panggabean, Sudomo, Benny Moerdani, Sintong Panjaitan and many others would have had a difficult time.
Thu, 24 Dec 1998, 00:00 WIB
ICMI and 1966 activists against national dialog
ICMI and 1966 activists against national dialog JAKARTA (JP): The Association of the Indonesian Muslim Intellectuals (ICMI) and activists of the 1966 generation on Wednesday joined hands in opposing a proposed national dialog for reconciliation. ICMI executive chairman Achmad Tirtosudiro, executive chairman of the Arief Rahman Hakim Big Family of 1966 student activists Arief Biki, and former student leader Bambang W.
Thu, 24 Dec 1998, 00:00 WIB
100 employees quit 'Gatra' to establish a new weekly
100 employees quit 'Gatra' to establish a new weekly JAKARTA (JP): One hundred employees, among them reporters, of the Gatra weekly magazine have resigned, citing management intervention in editorial policies, editors said Wednesday. The exodus followed last month's dismissal of the magazine's directors and chief editors by the publisher, PT Era Media Informasi, which is controlled by tycoon Mohammad (Bob) Hasan.
Thu, 24 Dec 1998, 00:00 WIB
Of demons and angels
Of demons and angels As a former influential general with a political vision and mission, it is only natural that Prabowo should always become a subject for gossip. So great has been Prabowo's influence, that he is constantly being seen as being behind every disturbing incident that has happened since May. Prabowo's name is, at present, as prominent and sinister as that of Benny Moerdani's was in the past.
Thu, 24 Dec 1998, 00:00 WIB
The Christmas spirit
The Christmas spirit As Christians throughout Indonesia prepare to celebrate Christmas under circumstances that could at best be described as less than ideal, millions of Indonesians, regardless of race or creed, no doubt share their hope that the event may bring back the spirit of peace and well-being, those two universal human ideals that are at the heart of every Christmas celebration throughout the world.
Thu, 24 Dec 1998, 00:00 WIB
Bulog in limbo after losing its monopoly
Bulog in limbo after losing its monopoly By Sylvia Gratia M. Nirang JAKARTA (JP): For over 20 years enjoying exclusive rights to import and distribute basic commodities, the State Logistics Agency (Bulog) monopoly role came to an end this year as the country's economic crisis worsened.
Thu, 24 Dec 1998, 00:00 WIB
Stock Exchange
Stock Exchange Stock prices on the Jakarta Stock Exchange (in rupiah) on Dec. 23, 1998: Shares Close Change Trading Volume ------------------------------------------------------ Ades Alfindo 450 0 0 AHAP Insurance 400 0 0 Alter Abadi 275 -25 1,000 Alumindo Light Metal 350 0 71,000 Alumindo Perkasa 125 0 0 Aneka Kimia Raya 200 0 31,500 Aneka Tambang 1,600 0 1,263,000 Anwar Sierad 100 0 930,000 Apac Centertex Corp.
Thu, 24 Dec 1998, 00:00 WIB
11 soldiers go on trial for abduction
11 soldiers go on trial for abduction JAKARTA (JP): The much-awaited trial of 11 Army Special Forces (Kopassus) soldiers charged with involvement in the abduction of political activists opened here on Wednesday. The trial, held at the Jakarta Military Court in Klender, East Jakarta, opened with the military prosecutors reading out a 27- page document outlining the charges against the 11 defendants, three of them noncommissioned officers.
Thu, 24 Dec 1998, 00:00 WIB
Dengue kills 18 Rembang children
Dengue kills 18 Rembang children SEMARANG: Dengue outbreaks have killed 18 children and hospitalized 231 others in 63 villages in Rembang regency, health officials said on Wednesday. Waryu Cahyadi of the regency's health office blamed the high fatality rate on parents' failure to promptly seek medical treatment for their children. Prof. Soebowo, a member of the Central Java legislative council, said poor sanitation also contributed to the high incidence of dengue in these villages. (har/01)
Thu, 24 Dec 1998, 00:00 WIB
Golkar likely to force civil servants into politics
Golkar likely to force civil servants into politics Golkar's attempt to sustain backing from civil servants in elections by allowing them to become executives of political parties under a bill being prepared by the House of Representatives (DPR) has created a controversy. Political analyst Arbi Sanit of the University of Indonesia discusses this issue.
Thu, 24 Dec 1998, 00:00 WIB
A climate of fear hangs heavy over Jakarta
A climate of fear hangs heavy over Jakarta By Ivy Susanti JAKARTA (JP): The Chinese Year of the Tiger brought traumatic roars to many Jakartans, with the claws of crime ripping apart many of their lives in an increasingly inhospitable concrete jungle. Many may be thankful to close the chapter on the grim images of 1998. It all unfolded in a helter-skelter cycle.
Thu, 24 Dec 1998, 00:00 WIB
Bad buildings disrupt schooling
Bad buildings disrupt schooling BANJARNEGARA, Central Java: Bad workmanship found in 2,695 elementary school buildings throughout Banjarnegara regency has disrupted study for thousands of pupils, Parmadhi, the head of Banjarnegara Educational Office, said on Tuesday. Parmadhi said embezzlement, including excessive mark-ups, by contractors contributed to the poor state of the buildings.
Thu, 24 Dec 1998, 00:00 WIB
Customs office presents weapons cache to police
Customs office presents weapons cache to police TANGERANG (JP): The Customs and Excise Office of the Soekarno- Hatta International Airport handed over 412 replicas of common weapons and 15 paint balls, confiscated in several foiled smuggling attempts since last year, to the police on Wednesday.
Thu, 24 Dec 1998, 00:00 WIB
SE Asian currencies mixed in run-up to Xmas holidays
SE Asian currencies mixed in run-up to Xmas holidays SINGAPORE (Dow Jones): Asian currencies were mixed against the U.S. dollar in thin trading late Wednesday. The Philippine peso and New Taiwan dollar did manage to move slightly higher, benefiting from a rise in the yen against the U.S. dollar early in the Asian trading session. U.S. dollar buying interest eventually drove the Korean won, Singapore dollar, and Thai baht lower, traders said, while Indonesia's rupiah was generally flat.
Thu, 24 Dec 1998, 00:00 WIB
Conversion Rates
Conversion Rates Bank Bali's conversion rates on Dec. 23, 1998: TT rates Bank notes rates Buying Selling Buying Selling Rp Rp Rp Rp U.S.
Thu, 24 Dec 1998, 00:00 WIB
'SCTV' gives scholarship
'SCTV' gives scholarship JAKARTA (JP): Private television station Surya Citra Televisi (SCTV) has awarded scholarships worth Rp 74 million to 75 students with high achievements selected from 1,500 state and private universities nationwide. The scholarships were handed over on Tuesday by SCTV's director for news and corporate affairs Riza Primadi to Minister of Education and Culture Juwono Sudarsono. Riza said each student would get Rp 900,000 annually or Rp 75,000 monthly.
Thu, 24 Dec 1998, 00:00 WIB
Press, parties reminded on roles to foster civil society
Press, parties reminded on roles to foster civil society JAKARTA (JP): Failure of the press and political parties to match up to expectations would render the reform movement started by students stagnant, political observers and a party member warned Wednesday. Hermawan Sulistyo of the National Institute of Sciences (LIPI) said the two forces should make use of the newly-created "public space" to push for reform without violence, aiming for policies that served the interests of the public.
Thu, 24 Dec 1998, 00:00 WIB
Govt may import eggs for Idul Fitri: Rahardi
Govt may import eggs for Idul Fitri: Rahardi JAKARTA (JP): For the first time, Indonesia may have to import eggs in anticipation of shrinking supplies in the run-up to the Muslim Idul Fitri celebration in mid-January, Industry and Trade Minister Rahardi Ramelan said on Wednesday. Rahardi said that judging by the soaring price of eggs, he was concerned that the domestic supply was declining with the most- celebrated Muslim holiday fast approaching.
Thu, 24 Dec 1998, 00:00 WIB
Habibie plans another meeting with Bishop Belo, Yunus says
Habibie plans another meeting with Bishop Belo, Yunus says JAKARTA (JP): President B.J. Habibie told his Cabinet ministers on Wednesday that he planned to have another meeting with Dili Bishop Carlos Felipe Ximenes Belo as part of his prosperity and cultural approach to the province. Minister of Information Lt. Gen.
Thu, 24 Dec 1998, 00:00 WIB
All quiet on financial front ahead of Xmas
All quiet on financial front ahead of Xmas JAKARTA (JP): The rupiah kept on a slippery path to close at 7,825 against the U.S. dollar in quiet trading on Wednesday and stock prices dipped in tandem by 1.4 percent. Currency dealers said trading on the rupiah was virtually nonexistent, but the local unit veered perilously close to the 8,000 market when several state banks entered the market looking for dollars.
Thu, 24 Dec 1998, 00:00 WIB
Djada tells soldiers to improve professionalism
Djada tells soldiers to improve professionalism JAKARTA (JP): City Military Commander Maj. Gen. Djadja Suparman underlined on Wednesday the importance of improving soldiers' professionalism in order to provide better service to society.
Thu, 24 Dec 1998, 00:00 WIB
Where to go in Jakarta:
Where to go in Jakarta: Exhibitions * Photo Exhibition: Dari Lengser Sampai Semanggi, at Galeri Foto Jurnalistik Antara, Jl. Antara No. 59 Pasar Baru, Central Jakarta (Phone: 3458771), 11:30 a.m. to 7:30 p.m., until Jan. 14. * 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., until Dec. 28. * Batik Exhibition: The Awakening of Batik at the end of the Millennium, at Galeri TC, Jl.
Thu, 24 Dec 1998, 00:00 WIB
Ramadhan time
Ramadhan time for Jakarta Thursday Maghrib 6:08 p.m. Friday Imsak 4:04 a.m. Subuh 4.14 a.m. Maghrib 6:09 p.m. Saturday Imsak 4:04 a.m. Subuh 4:14 a.m.
Thu, 24 Dec 1998, 00:00 WIB
Creditors will meet here over aid package
Creditors will meet here over aid package JAKARTA (JP): Indonesia's main donors will meet here in January to assess the country's aid needs for the upcoming 1999/2000 fiscal year, Coordinating Minister for Economy, Finance and Industry Ginandjar Kartasasmita said here on Wednesday. Ginandjar said the meeting would also evaluate the implementation of the state budget during the 1998/1999 fiscal year which ends in March.
Thu, 24 Dec 1998, 00:00 WIB
Freedom of expression comes out of the cold in 1998
Freedom of expression comes out of the cold in 1998 By Amir Sidharta JAKARTA (JP): On New Year's Day this year, Soeharto, who was president at the time, designated 1998 as the year of art and culture. "Through art and culture, we strengthen our identity as a nation and at the same time attract foreign tourists to Indonesia," he said in a nationwide televised address. The designation came as a surprise to many in the art field, as there was little to indicate such a designation.
Thu, 24 Dec 1998, 00:00 WIB
Estrada fires customs chief
Estrada fires customs chief MANILA (AFP): Philippine President Joseph Estrada fired on Wednesday Manila's customs chief for brandishing a gun at hotel patrons. "This morning I was informed that Customs Commissioner Pedro Mendoza got involved in a gun toting incident at the lobby of the Manila Hotel. These reports have now been confirmed by an official report of the Western Police District (in Manila)," Estrada announced.
Thu, 24 Dec 1998, 00:00 WIB
Underfed infants in Gunungkidul
Underfed infants in Gunungkidul GUNUNGKIDUL, Yogyakarta: Five hundred seventeen children under five have been diagnosed as undernourished, Antara reported Tuesday. Twenty-one were considered in advanced stages of malnourishment. "This has happened because of the crisis made worse by the effect of last year's drought, which has reduced the production and stocks of food here," regent Harsadiningrat said when opening a training course on nutrition monitoring.
Thu, 24 Dec 1998, 00:00 WIB
Bakrie unit, PGN sign contract on natural gas
Bakrie unit, PGN sign contract on natural gas JAKARTA (JP): Local oil and gas company Lapindo Brantas, Inc., controlled by the Bakrie group, has signed a memorandum of understanding to supply natural gas worth US$300 million to state gas company Perusahaan Gas Negara (PGN) in East Java. Lapindo Brantas president and chief executive officer Rennier A.R.
Thu, 24 Dec 1998, 00:00 WIB
Govt aids small ventures
Govt aids small ventures JAKARTA (JP): The government is allocating Rp 68 billion in revolving funds to be channeled to 1,000 groups of small-scale entrepreneurs, Minister of Cooperatives and Small Enterprises Adi Sasono said on Wednesday. "We (the ministry) received Rp 68 billion in addition to our expenditure budget to develop the Institute of Productive Economy for Self-Sufficient Society," Adi told a media briefing.
Thu, 24 Dec 1998, 00:00 WIB
Man arrested for drug trafficking
Man arrested for drug trafficking JAKARTA (JP): Police have arrested a man for allegedly selling 95 grams of the amphetamine-derivative shabu-shabu at Sunlight Hotel, Jl. Danau Sunter, North Jakarta, an officer said on Tuesday. City police spokesman Lt. Col. Edward Aritonang said the suspect, identified as Yanto, alias Aheng, was arrested at the hotel on Monday night. "We also confiscated the drug from Aheng, who did not resist arrest," Aritonang said. He said Aheng, a resident of Jl.
Thu, 24 Dec 1998, 00:00 WIB
The story of human rights in RI
The story of human rights in RI By Cornelis A. Boeky JAKARTA (JP): The forefathers of independent Indonesia were mostly lawyers graduated from the well-known Dutch university of Leiden. Their training in Holland helped form their knowledge and awareness of basic and universal human rights. Their educational background is clearly reflected in the constitutions Indonesia has had since independence. Since independence, Indonesians have known three constitutions formulated by these forefathers.
Thu, 24 Dec 1998, 00:00 WIB
5,000 homes flooded in Bandung
5,000 homes flooded in Bandung BANDUNG (JP): At least 5,000 homes and thousands of hectares of farmland were flooded after the Citarum River and a number of streams overflowed on Tuesday night. Antara reported Wednesday the worst hit areas included villages in Cileunyi district. In the villages of Babakan Sayang, Cipanileuman and Rancakamurang around 1,800 homes, three elementary schools and 12 places of worship were flooded in waters reaching from 20 centimeters to 75 centimeters.
Thu, 24 Dec 1998, 00:00 WIB
Civil servants and politics
Civil servants and politics From Pikiran Rakyat It has been widely discussed whether civil servants can join or become a member of the executive board of a political party. In my opinion, we need to be pragmatic, to the effect that every citizen must be given a fair chance and freedom to channel his/her aspirations. It is much to be desired, without wasting time and energy, that civil servants should have the unconditional right to vote for and to join any party of their choice.
Thu, 24 Dec 1998, 00:00 WIB
Perumka adds more coaches
Perumka adds more coaches YOGYAKARTA: The state-run railway company Perumka has added 15 more coaches for its train operation out of Yogyakarta's station, bringing the total to 130 per day, to cope with the current holiday travel boom. Purnomo, spokesman for Perumka's office in Yogyakarta, said the cars were added since Dec. 18. The number of passengers leaving Yogyakarta has increased by 10 percent since Dec.18, and will reach its peak on Dec.
Thu, 24 Dec 1998, 00:00 WIB
Militia
Militia From Media Indonesia The establishment of a civilian militia (military-trained civilians), will, in my opinion, only add to the problems of our beloved Indonesia. It is well known that the people are easily angered now. So, it is not precluded that a new problem may arise between the militia and the general public. The events on Nov.
Thu, 24 Dec 1998, 00:00 WIB
SE Asia seen losing foreign investment pull
SE Asia seen losing foreign investment pull SINGAPORE (AFP): Southeast Asia's attraction for foreign direct investments will wane due to its debilitating financial crisis, benefiting the Greater China region, a report said Wednesday. The Political and Economic Risk Consultancy Ltd. (PERC) also said in its report that the source of future foreign investments in the region would shift from Overseas Chinese and Japanese companies to North American and European firms.
Thu, 24 Dec 1998, 00:00 WIB
Shareholders approve Lippo Bank's rights issue plan
Shareholders approve Lippo Bank's rights issue plan JAKARTA (JP): Publicly listed Lippo Bank obtained shareholders approval on Wednesday for a rights issue that will allow it to raise Rp 4.7 trillion to finance its recapitalization program. The bank said in a statement that some 17.1 billion new shares with a par value of Rp 10 would be issued at Rp 275 each.
Thu, 24 Dec 1998, 00:00 WIB
Soeharto 'may face corruption charges'
Soeharto 'may face corruption charges' JAKARTA (JP): Further checks are needed before former president Soeharto can be declared a suspect in a corruption case, Attorney General Andi Ghalib said Wednesday. "Based on information obtained from those questioned, it looks like it is heading the way of Soeharto becoming a suspect, but we cannot immediately say so. We have to recheck the evidence," Ghalib told reporters.
Thu, 24 Dec 1998, 00:00 WIB
Mixed day for Asian stock markets
Mixed day for Asian stock markets HONG KONG (AFP): Asian stock markets ended mixed Wednesday, focusing on local factors with Tokyo shut for a holiday and the Federal Reserve deciding to leave US interest rates unchanged. Hong Kong, Singapore, Sydney, Jakarta and Taipei ended lower. Kuala Lumpur, Bangkok, Manila and Seoul ended in positive territory. Trading was thin with foreign investors sidelined ahead of the Christmas and New Year holidays, dealers said.
Thu, 24 Dec 1998, 00:00 WIB
ABRI to start training 40,000 civilian security
ABRI to start training 40,000 civilian security JAKARTA (JP): Minister of Defense/Armed Forces (ABRI) Commander Gen. Wiranto told a Cabinet meeting on Wednesday that ABRI would start training 40,000 members of People's Security (Kamra) in January as part of its controversial civilian militia recruitment plan. Minister of Information Lt. Gen. Muhammad Yunus disclosed Wiranto's report to the meeting on political affairs and security, chaired by President B.J.
Thu, 24 Dec 1998, 00:00 WIB
Fertilizer firms to build new plants
Fertilizer firms to build new plants JAKARTA (JP): State-owned fertilizer producers PT Pupuk Iskandar Muda (PIM), PT Pupuk Kalimantan Timur (Kaltim) and PT Pupuk Kujang will build three new plants worth US$924.7 million to increase domestic production of urea. The plants are PIM 2, which will cost $308.1 million; Kaltim 4 ($312 million) and Kujang 1B ($304.6 million), Antara reported.
Thu, 24 Dec 1998, 00:00 WIB
Fertilizer versus Ratih
Fertilizer versus Ratih From Media Indonesia Theft of fertilizers recently took place in various towns. Fertilizer shops have been plundered. Fertilizer factories have been coerced into selling their product below the market price. The actions were triggered by the government's announcement that it would remove fertilizer subsidies. This resulted in the increase of fertilizer prices.
Thu, 24 Dec 1998, 00:00 WIB
RI maid jailed for false report
RI maid jailed for false report SINGAPORE (AP): An Indonesian maid working in Singapore was jailed for a month for falsely reporting that her employer raped her, a newspaper reported on Wednesday. A court found Pikati Slamet, 23, guilty of giving false information to the police and imposed a maximum fine of S$1,000 (US$600) on Tuesday. She was unable to pay, and will serve a jail sentence instead, reported The Straits Times.
Thu, 24 Dec 1998, 00:00 WIB
IDB lends Malaysia
IDB lends Malaysia KUALA LUMPUR (AFP): The Islamic Development Bank has in principle approved a US$200 million loan to Malaysia, a report said on Wednesday. Utusan Malaysia quoted the bank's regional director Mohammad Siddik as saying that the loan would be disbursed in the next few months once details of projects requiring the funding were submitted. The bank has so far approved $25 million for the construction of six hospitals, the newspaper said.
Thu, 24 Dec 1998, 00:00 WIB
RI ranks world's worst for religious disharmony
RI ranks world's worst for religious disharmony JAKARTA (JP): Indonesia has been rated the worst in the world in terms of religious intolerance and persecution, the Indonesian Church Community (PGI) executives announced Wednesday. The community's chairman Soelarso Sopater and Secretary- General J.M. Pattiasina briefed the media on Wednesday about the results of the recent World Churches Council (WCC) congress in Harare, Zimbabwe.
Thu, 24 Dec 1998, 00:00 WIB
Bank Niaga, Suryamas case to go to high court
Bank Niaga, Suryamas case to go to high court JAKARTA (JP): Publicly listed Bank Niaga said it would appeal a court decision ordering it to pay a US$60 million fine to PT Suryamas Duta Makmur. The bank's attorney, Faisal Syahmenan of Warens & Achyar law firm, said Wednesday that his client was not satisfied with the ruling and had decided to appeal to the Jakarta High Court. The South Jakarta District Court ordered Bank Niaga on Monday to pay the fine over a derivative transaction.