Indonesian Political, Business & Finance News

Archive: 29 December 1998

57 articles found

1998: A ministerial search for confidence

1998: A ministerial search for confidence By Sugianto Tandra JAKARTA (JP): In search of lost public confidence. One could say it is what many ministers of President B.J. Habibie's Reform Cabinet have been striving to achieve for over half of 1998. A flashback to some moves that the Cabinet ministers have made since they were sworn in May would make one wonder what, indeed, has been achieved to heal people's confidence in the government since crisis struck the nation last year.

Sutiyoso vows to crack down on firecrackers business

Sutiyoso vows to crack down on firecrackers business JAKARTA (JP): Governor Sutiyoso warned Jakartans on Monday that city security authorities would take stiff measures against anyone who makes, supplies, carries, sells or lights fireworks that explode. "I have instructed today (Monday) the city's five mayors to work together in solving the matter.

Thai tourism fares well despite crisis

Thai tourism fares well despite crisis BANGKOK (Reuters): Thailand's tourism industry is thriving as the weak baht currency enables local hotels and tour operators to offer cheap holidays, the head of one of Thailand's biggest hotels said on Monday. Jean-Fernand Wasser, general manager of the Royal Cliff Beach Hotel in Pattaya, said Thai operators have stressed Thailand's stability while neighboring Malaysia and Indonesia suffer image problems due to political tension and riots.

1998: Worst year in living memory for many Jakartans

1998: Worst year in living memory for many Jakartans By Ida Indawati Khouw JAKARTA (JP): Unlike previous years when Jakarta witnessed constant growth in development, the city this year experienced a multitude of severe problems, including a sharp drop in the city budget, the necessary renovation of buildings burned in riots, provision of food for the needy and jobless, and corruption.

Monoloyalty policy: Problems and prospects

Monoloyalty policy: Problems and prospects By R. Siti Zuhro JAKARTA (JP): The Indonesian bureaucracy is not neutral, due to the government's policy of insisting on the monoloyalty of civil servants, so that they can only vote for its political body, Golkar, in general elections. Since Soeharto started ruling the country in 1966, there have been fundamental changes in Indonesian politics.

Pulp plant in C. Kalimantan

Pulp plant in C. Kalimantan JAKARTA (JP): A private national company PT. Ceria Karya Pranawa plans to build an Rp 8.5 trillion (US$1.13 billion) pulp plant in Kotawaringin Timur regency, Central Kalimantan, Antara reported on Monday. The plant will be built inside a 68,000 hectare forest estate and will employ 1,720 workers when it is completed in 2001, Abdul Karim, the head of Central Kalimantan Investment Coordinating Agency said in Palangkaraya.

Yayuk at crossroads once again

Yayuk at crossroads once again By Primastuti Handayani JAKARTA (JP): Indonesia's best ever tennis player Yayuk Basuki captured the headlines by winning the Asian Games women's singles gold medal in the twilight of her career. Yayuk was extremely happy, as she approaches the ending. Shortly after beating Thailand's sweetheart Tamarine Tanasugarn in a relatively one-sided final, Yayuk reiterated her intention to leave competitive tennis for good.

Mining sector promises more investment in 1999

Mining sector promises more investment in 1999 JAKARTA (JP): Foreign investment in the mining sector should continue flowing in 1999 despite the prevailing uncertainties on both the economic and political fronts, Minister of Mines and Energy Kuntoro Mangkusubroto said on Monday.

Whose year was it?

Whose year was it? The Jakarta Post has never named its man or woman of the year, the custom of several media institutions in distinguishing individuals or groups for their prominence, good or otherwise, during the preceding 12 months. But given the huge changes this country witnessed in 1998 -- momentous events that significantly altered Indonesia's history -- we have decided to make an exception this year, and determine who ranks as the biggest newsmakers of them all in the outgoing 1998.

Rates for tax payment, valid from Dec.28 1998 to Jan. 03 1999

Rates for tax payment, valid from Dec.28 1998 to Jan. 03 1999 U.S. dollar 1 Rp 7,550.00 Austrian schilling 1 641.98 Australian dollar 1 4,605.50 Belgian franc 1 219.13 Canadian dollar 1 4,861.25 Swiss franc 1 5,537.22 Deutschemark 1 4,506.12 Danish krone 1 1,188.85 French franc 1 1,348.75 Poundsterling 1 12,662.11 Hong Kong dollar 1 974.86 Italian lira 100 456.68 Japanese yen 100 6,475.13 Malaysian ringgit 1 1,986.84 Dutch guilder 1 4,012.86 Norwegian krone 1 985.86 New Zealand dollar 1...

Markets dip before New Year holiday

Markets dip before New Year holiday HONG KONG (AFP): Asian stock markets ended mixed Monday in thin trade and on a lack of buying incentives ahead of the New Year, with most investors on year-end holidays, dealers said. Hong Kong, Tokyo, Singapore, Jakarta and Taipei were lower, while Kuala Lumpur, Bangkok and Seoul ended in positive territory. Sydney was closed for a holiday and Manila barely budged.

Improve the system!

Improve the system! Mr. Pieroelie completely misses the point in his letter about the "loss of a few television shows on the tube" (Dec. 26, 1998). The Indovision case is a typical example of how Indonesia operates (doesn't). It is about the incapacity of the system to deal with unfair practices and to obtain objective judgment and execution of decisions from a neutral party. In my opinion, there will be many more cases like this in the year to come as the effects of the crisis unfold.

Labor condition likely to worsen in 1999: Observers

Labor condition likely to worsen in 1999: Observers By Ridwan Max Sijabat JAKARTA (JP): Observers predicted on Monday that labor conditions would worsen next year due to the prolonged economic and political crises, warning that an unemployment rate of 38 million out of the total work force of 90 million represented a ticking time bomb.

Eddy Tansil 'living in China'

Eddy Tansil 'living in China' JAKARTA (JP): In a major corruption related development an independent corruption watch dog announced on Monday it has discovered escaped convict Eddy Tansil prospering in China after fleeing a 17-year prison sentence in 1996. The Movement of Concerned Citizens on State Assets (Gempita) said Tansil was currently running a premium brewery under a licensing agreement with Germany's Beck's Beer Co. in the city of Putian, in Fujian province.

RI negotiates rice deal with Thailand

RI negotiates rice deal with Thailand BANGKOK (Reuters): Indonesia is renegotiating a deal to buy 100,000 tons of rice from the Thai government, a senior commerce ministry official said on Monday. Pracha Charutrakulchai, head of the foreign trade department, told reporters that Indonesia asked Thailand to lower the price of the rice from $282 per ton agreed earlier. In exchange for the price reduction, Indonesia was willing to pay in cash instead of deferred credit as earlier agreed, he said.

Seven die, eight hurt in road accident

Seven die, eight hurt in road accident SALATIGA, Central Java: Seven people died and eight sustained severe injuries in an accident involving a truck, a public transport vehicle, a motorcycle and a pedicab in Salatiga on Sunday. Antara reported Monday that the victims were Dwi Anggraini, 26; Tukiyem, 66; Basuki Raharjo; Slamet, 38; Parjan; Rakini, 68; Kasiyem, 78 and Laseman. Salatiga Police chief Lt. Col.

Two tried for forging money worth Rp 5b

Two tried for forging money worth Rp 5b TANGERANG (JP): Beware of your Rp 50,000 bank notes since they may be among the forged ones distributed by Jie Jusanhadi, 65, alias Anon, and his accomplice Iwan Wijaya, 46. According to prosecutor Syahrudin, the two had sold fake notes worth Rp 140 million in a series of transactions between March and April this year.

Indonesia may cut rice imports by 50% next year

Indonesia may cut rice imports by 50% next year JAKARTA (JP): The country could more than halve its huge rice imports next fiscal year if domestic unhusked rice production meets the targeted 52 million metric tons, Minister of Agriculture Soleh Solahuddin said on Monday. Soleh was optimistic imports in the fiscal year beginning in April could be cut to around 2 million tons from the 4.1 million tons in the current fiscal year.

Habibie urged to release all political prisoners unconditionally

Habibie urged to release all political prisoners unconditionally JAKARTA (JP): Observers are appealing to President B.J. Habibie to grant amnesty to all political prisoners to signal a clean break from Soeharto's New Order regime. Political scientist Muhammad A.S. Hikam of the Indonesian Institute of Sciences (LIPI) discussed in a seminar on Monday the "social death" suffered by political prisoners under Soeharto's regime from the alienation accompanying discriminatory labels.

Conversion Rates

Conversion Rates Bank Bali's conversion rates on Dec. 28, 1998: TT rates Bank notes rates Buying Selling Buying Selling Rp Rp Rp Rp U.S.

RI pay-TV business labors to survive

RI pay-TV business labors to survive By Antariksawan Jusuf JAKARTA (JP): At the end of 1998, the Indonesian pay- television industry is struggling to survive the painful economic crisis, but the future remains rosy in this vast market of more than 200 million people. The government has issued nine licenses, but only three operators -- Indovision, TV Kabel and Indonusa -- have launched their commercial operations.

Feminists sound alarm on evil of domestic violence

Feminists sound alarm on evil of domestic violence JAKARTA (JP): Feminists have called on women to be on the alert for domestic violence against them in the light of the continued crisis next year. Among cases of violence reported to the crisis center Mitra Perempuan this year, most were perpetrated by the victims' husbands.

Student questioned over treason

Student questioned over treason JAKARTA (JP): National Police summoned a student activist on Monday as a witness in the case of three opposition figures charged with trying to topple President B.J. Habibie's government. Sarbini an activist of Jakarta Student Senate Forum (FKSMJ) arrived at the headquarters at around 1 p.m., accompanied by lawyers Ori Rachman and Tubagus Haryo from the Indonesian Legal Aid Foundation.

Ramadhan time for Jakarta

Ramadhan time for Jakarta Tuesday Maghrib 6:10 p.m. Wednesday Imsak 4:07 a.m. Subuh 4.17 a.m.

Textile factory owner found dead in his own office

Textile factory owner found dead in his own office JAKARTA (JP): The trussed and battered body of the owner of a textile factory was found in his office in Cibitung, Bekasi on Monday morning. Sugiarto, alias A Ling, 40, who owned PT Karang Buana Indah textile manufacturer, was found dead by one of his office boys at about 7 a.m. with both of his hands and feet tightly bound with plastic rope while his head was covered with a red cloth, an officer said.

Transport prepared for Idul Fitri exodus

Transport prepared for Idul Fitri exodus JAKARTA (JP): The continuing crisis may be no obstacle to the traditional end-of-the-fasting month family gathering of Idul Fitri, and the government is gearing up to prepare for this year's expected exodus of 16.92 million people from various cities next month. Last year's exodus involved 18.49 million people, Communications Minister Giri Suseno Hadihardjono said on Monday.

47 people living with HIV/AIDS in Bali

47 people living with HIV/AIDS in Bali DENPASAR: There are 47 people living with HIV/AIDS in Bali, though it is believed that many cases are not reported. The head of Bali's committee focusing on the Acquired Immune Deficiency Syndrome (AIDS), I Gusti Agung Mayun Eman, was quoted Monday by Antara as saying that although the figures were small compared to Bali's population of 2.8 million people, much of the development of the virus was difficult to monitor.

BI net foreign reserves up to $14.43b

BI net foreign reserves up to $14.43b JAKARTA (JP): Bank Indonesia said on Monday that its net international reserves (NIR) rose by US$146.3 million to $14.43 billion as of Dec. 23 from the Dec. 15 level. The central bank said in its weekly indicator report that the slight increase was due to government revenue from oil and gas exports and the disbursement of offshore loans. The NIR level is above the IMF target of $10.86 billion, it added.

National sports struggle to survive economic crisis

National sports struggle to survive economic crisis By Dwiatmanta JAKARTA (JP): A self-fulfilled medal target at the Asian Games in Bangkok allowed Indonesian sports to breathe a sigh of relief, at least for the moment. Despite the fact that Indonesia's preparations for the continent's major event were plagued by a hard-hitting recession and security concerns, national athletes brought home six gold, 10 silver and 11 bronze medals.

Rp 8b in losses in Tanjung Enim fire

Rp 8b in losses in Tanjung Enim fire TANJUNG ENIM, South Sumatra: The fire which ravaged dozens of houses in the South Sumatran town of Tanjung Enim on Friday is estimated to have caused Rp 8 billion in material losses, Antara reported Monday. The chief of the Lahat police precinct, Lt. Col. Judy AR, said 32 shop-houses, three food warehouses and two motorcycles were damaged by the fire.

Stock Exchange

Stock Exchange Stock prices on the Jakarta Stock Exchange (in rupiah) on Dec.28, 1998: Shares Close Change Trading Volume ------------------------------------------------------- Ades Alfindo 425 -25 2,500 AHAP Insurance 400 0 0 Alter Abadi 275 0 25,000 Alumindo Light Metal 325 -25 426,000 Alumindo Perkasa 125 0 0 Aneka Kimia Raya 200 0 0 Aneka Tambang 1,600 0 475,000 Anwar Sierad 100 0 0 Apac Centertex Corp.

Rights activist Munir named 'Man of the Year'

Rights activist Munir named 'Man of the Year' JAKARTA (JP): The man of the year, in the opinion of Ummat weekly, is Munir, coordinator of the Committee for Missing Persons and Victims of Violence (Kontras). Munir, also the recipient of the Yap Thiam Hien human rights award this year, received the award for his persistence in resisting state-sponsored violence.

SE Asian monies slip lower on year-end dollar demand

SE Asian monies slip lower on year-end dollar demand SINGAPORE (Dow Jones): Southeast Asian currencies ended Asian trading hours on Monday lower against the U.S. dollar. But with many market participants away from their desks during the holiday season, few dealers were prepared to read any significance into the drop. "There is no real direction to the market. Everyone is just waiting for the New Year.

Where to go in Bandung:

Where to go in Bandung: Performance * Puppet Show, at Gedung Kesenian Rumentang Siang, Jl. Baranang Siang 1, Kosambi (Phone: 022 433562), 9:30 p.m., Jan. 2. Talk * Discussion on Literature: Dramatisasi Puisi, Pujangga Manik, at Gedung Kesenian Rumentang Siang, 4 p.m., Jan. 3. Music and Entertainment * Hotel Papandayan, Jl. Gatot Subroto No. 83 (Phone: 022 310799): - The Burangrang Lounge at 7 p.m. to 10 p.m.: Solo Jazz Piano, Tuesday to Friday. Piano Couple (Jazz and Pop), Saturday, Wednesday.

Tabloid managing editor called in for defamation

Tabloid managing editor called in for defamation JAKARTA (JP): Jakarta Police on Monday summoned the managing editor of the new biweekly Warta Republik tabloid to answer allegations of defamation, following a lawsuit lodged by the country's former vice president Try Sutrisno. City police spokesman Lt. Col.

Nonfeature TV miniseries face lck of public recognition

Nonfeature TV miniseries face lck of public recognition By Gotot Prakosa JAKARTA(JP): The term sinetron is an acronym for Sinema Elektronik, coined by Soemardjono, a national film figure who died in August 1998. He came up with sinetron as terminology for television miniseries. In the beginning, the term only applied to feature works but later included nonfeature programs such as documentaries, semidocumentaries, instructional, cultural, news and talk shows.

Kamra and ABRI's prestige

Kamra and ABRI's prestige The government has finally decided to take the middle road in trying to overcome its security personnel shortage by forming a 40,000-strong people's security unit (Kamra). The government -- through Armed Forces Chief/Minister of Defense Gen. Wiranto -- had earlier expressed the intention of forming a civilian militia, which raised a wave of controversies.

Association will give cash bonus for Supriati's gold

Association will give cash bonus for Supriati's gold JAKARTA (JP): The Indonesian Amateur Athletics Association will hand over a cash bonus to Supriati Sutono, the gold medalist in the women's 5,000 meters in the 13th Asian Games, probably next week. The association's secretary-general, Barmawi Chaidir, said on Monday that he was still discussing the amount of the bonus with official partners and sponsors.

El Nino brings drought, floods and failed harvests

El Nino brings drought, floods and failed harvests By Mira Gajevic HAMBURG (DPA): Drought in Indonesia, record floods in Central and East Africa and a failed harvest in Latin America are all a result of the 1997/98 El Nino. The most recent and most pronounced El Nino since records of this climatic phenomenon began caused economic damage around the world amounting to US$14 billion, according to the Munich Reinsurance company. In Somalia alone more than 1,200 people died in the resulting flooding.

BBD employee jailed for embezzlement

BBD employee jailed for embezzlement JAKARTA (JP): The Central Jakarta District Court sentenced an employee of state Bank Bumi Daya (BBD) on Monday to six years in jail and fined him Rp 5 million for embezzling Rp 630 million. Presiding judge Abas Sumantri also ordered the defendant, Widya Setyohadi, who worked in the bank's clearing department in its Imam Bonjol branch in Central Jakarta, to return as much of the stolen money as possible to the bank.

Improper meddling?

Improper meddling? This is a final follow-up to attempts to get feedback on a complaint about an official in the Medan Immigration Office who extorted many millions of rupiah at a time (in premonetary crisis value) from expatriates and Indonesians. Finally, on Dec. 26, I received a letter from the Director General of Immigration Mr.

Bank Rama needs Rp 262 billion for recapitalization program

Bank Rama needs Rp 262 billion for recapitalization program JAKARTA (JP): Publicly listed Bank Rama announced on Monday that it would need Rp 262 billion (about US$35 million) to boost its capital adequacy ratio (CAR) to the desirable level. President Putu Antara said the bank's CAR level was found to be minus 24.61 percent in an audit by an independent foreign accounting firm.

Five illegal tillers shot in Medan clash

Five illegal tillers shot in Medan clash JAKARTA (JP): Five laborers of a state-owned plantation in Deli Serdang, North Sumatra, were shot Monday in a clash involving possibly illegal tillers and employees of the Nusantara II plantation. Two of those who were shot, allegedly with rubber bullets, reported to the Legal Aid Office in Medan. They were Agus Salim, 20 and Basirun, 38. The others were Abdul Rahim, 25, Udin Sagala, 35, and Sigapo, 35, all residents of Batangkuis in Deli Serdang.

Nationalism and studying abroad

Nationalism and studying abroad From Bisnis Indonesia Bisnis Indonesia of Dec.18 carried the articles Jakarta in chaos, MNC reacts and Relocation of shoe factory to Vietnam side by side. The situation in our country is really saddening. Both factory owners and individuals feel it is not safe to do business or to live in Indonesia, especially Jakarta. I think the country's leaders and the government apparatus all too often make confusing statements and decisions.

ABRI to stay neutral in next year's poll

ABRI to stay neutral in next year's poll JAKARTA (JP): Armed Forces (ABRI) Commander Gen. Wiranto promised on Monday that the military would not back Golkar in next year's general election, and that it would treat all contestants equally. Addressing the media after he met with President B.J. Habibie at Merdeka Palace, Wiranto said ABRI would break its past habit of supporting certain political contestants.

TV Program: Tuesday, Dec. 29, 1998

TV Program: Tuesday, Dec. 29, 1998 TVRI 5:30 a.m. Religious Teachings: Hikmah Pagi 6:00 Morning News 6:30 News: Nuansa Reformasi 7:00 Children's Program: Lagu Anak Nusantara 7:30 Cartoon 8:00 Music 8:30 Documentary: Tanah Airku 9:00 Music 9:30 Live Reports: Pencanangan Tahun Kriya dan Rekayasa 2:00 p.m.

Entertainment spots sealed off

Entertainment spots sealed off JAKARTA (JP): A gaming hall and a gambling den located on the first and third floors of the six-story Prinsen Park building in the Lokasari complex in West Jakarta were temporarily sealed off by the city public order office on Sunday, an official said.

Indra has slim chance in Copenhagen Masters

Indra has slim chance in Copenhagen Masters JAKARTA (JP): Indonesia's men's singles shuttler Indra Wijaya was left with a slim chance of going through to the 1998 Copenhagen Masters final after one victory and one defeat on Sunday. The Copenhagen Masters runs until Dec. 31.

Petrosea wins contract

Petrosea wins contract JAKARTA (JP): Publicly listed PT Petrosea has been awarded a US$50.8 million project for phase seven of Total Indonesie's Tunu Field Development Project in East Kalimantan, the company announced on Monday. Petrosea's president Tony Speechley said the company would immediately start the project, which is located on the outer margin of the Mahakam River delta. It is expected to be completed in 20 months.

Government bank guarantee to stay in place: Sjahrir

Government bank guarantee to stay in place: Sjahrir JAKARTA (JP): Bank Indonesia Governor Sjahril Sabirin reaffirmed on Monday that the government guarantee on depositors' money at poorly capitalized banks would remain in place even if the banks had to be closed down. He said that the undercapitalized banks might have to be closed down if the owners failed to come up with measures to bring the capital adequacy ratio (CAR) up to the desired level.

S'pore sugar for Aceh

S'pore sugar for Aceh JAKARTA (JP): PT Kandi Agung, a private company in Banda Aceh, has begun importing cheaper sugar from Singapore instead of Jakarta to meet a rising demand during the Ramadhan fasting month, Antara reported from the Aceh capital on Monday. Kandi Agung's marketing manager Zulkifli said the first 15 metric tons of 1,015 tons of sugar ordered from Singapore arrived here on Dec. 25. "We have been ordering sugar from Jakarta.

S'pore races ahead with costly petrochemical plan

S'pore races ahead with costly petrochemical plan SINGAPORE (AFP): As other recession-hit Asian economies shelve mammoth infrastructure projects, Singapore is going full steam ahead with its ambitious plan to create a new island for a world class petrochemical complex.

Bank looses billions through corruption

Bank looses billions through corruption MATARAM, West Nusa Tenggara: The prosecutor's office here is investigating allegations of corruption reaching billions of rupiah at the local Bank Pembangunan Daerah, the regional development bank. "At least 28 executives and employees at the bank will soon be questioned," provincial chief prosecutor Endang Supardi Nohasaputra, said Saturday as reported by Antara. He said that those to be questioned were from the branches in Selong, Sumbawa and Bima.

Coral is dying: Expert

Coral is dying: Expert VICTORIA (AFP): Coral is dying at massive rates around the world as a result of global warming, U.S. expert warned. He said 80 percent of the corals in the Seychelles and 90 percent of those in Indonesia were already dead, and that the worst was yet to come because sea temperatures were expected to soar to record heights next year.

RI economy worse than IMF hopes

RI economy worse than IMF hopes The government has taken several measures in its efforts to restore the economy, which has been affected by a monetary crisis since July 1997. Economist Kwik Kian Gie reviews economic developments during 1997. JAKARTA (JP): Economic developments throughout 1997 have been very much influenced by the government's agreements with the International Monetary Fund (IMF) on the coordination of a US$43 billion bailout program for Indonesia's economic reform.

Today's calm may turn to chaos

Today's calm may turn to chaos By Hermawan Sulistyo JAKARTA (JP): Renewed student demonstrations have marked the local political landscape in the last three months. Many might contend the rallies serve as an indicator of political and social tensions. Along with mounting and subsequently declining student demonstrations, some small-scale riots also erupted here and there. With student demonstrations used as a social indicator, the riots also serve a similar function.

Tourist arrivals drop 5.3%

Tourist arrivals drop 5.3% SINGAPORE (AFP): Visitor arrivals in Singapore fell 5.3 percent from a year earlier to 506,950 in November with the number of tourists from Southeast Asia falling markedly, the Singapore Tourism Board said Monday. Arrivals from member-states of the Association of Southeast Asian Nations (ASEAN) fell 16.7 percent as the region remained in the grip of a deep economic slump triggered by the currency crisis which erupted in mid-1997.