Archive: 17 February 1998
51 articles found
Tue, 17 Feb 1998, 00:00 WIB
A loss of reason
A loss of reason In times of crisis base emotions often triumph over reason. For Indonesians, this age-old axiom is not hard to understand at this particular point in their history as a nation. It is, after all, a truism that explains the wave of unrest and rioting that has in the past weeks hit a growing number of towns in several of this country's provinces.
Tue, 17 Feb 1998, 00:00 WIB
Dalian, Pohang Steelers in semis
Dalian, Pohang Steelers in semis NINGBO, China (Reuters): A vital goal by Li Ming put Chinese champions Dalian into the semifinals of the Asian club cup on Sunday, despite a loss to Japan's Kashima Antlers in the final group match. Dalian was beaten 2-1 but Li's 70th-minute goal meant it finished ahead of Kashima in the standings, thanks to their higher goal tally after their three eastern zone group matches.
Tue, 17 Feb 1998, 00:00 WIB
Clubs said to be at fault in collusion
Clubs said to be at fault in collusion JAKARTA (JP): Club officials should also share the blame for any collusion between referees and clubs, chief referee Djafar Umar says. Djafar, head of the referee commission for the Indonesian Soccer Federation (PSSI), said Sunday that club officials often handed out incentives outside the referees' honorarium. "With the incentives, the referees forget themselves and misuse their authority.
Tue, 17 Feb 1998, 00:00 WIB
Thailand has no plan to adopt currency board
Thailand has no plan to adopt currency board BANGKOK (Reuters): Thailand has no plan to establish a currency board and it is confident that the market can see the difference between economic problems facing the country and Indonesia, government spokesman Akapol Sorasuchart said yesterday. Akapol quoted Finance Minister Tarrin Nimmanahaeminda as telling an economic ministers meeting that Thailand was watching Jakarta's decision on whether to peg the rupiah to a hard currency.
Tue, 17 Feb 1998, 00:00 WIB
Thai exporters cautious over Indonesia
Thai exporters cautious over Indonesia BANGKOK (Reuters): Escalating problems in Indonesia, a major importer of Thai rice and sugar, has unnerved Thai exporters, industry sources said yesterday. Indonesia has so far delayed a relatively small shipment of rice and committed to sugar purchases. But Thai exporters said they are increasingly worried about Indonesia's political and economic prospects and the direction of the volatile rupiah currency.
Tue, 17 Feb 1998, 00:00 WIB
Yemeni state visit
Yemeni state visit JAKARTA (JP): Yemeni President Ali Abdullah Saleh is scheduled to arrive here Thursday for a four-day state visit. Minister/State Secretary Moerdiono said the main purpose of the visit was to strengthen bilateral relations between the two countries. "The two leaders are also scheduled to discuss the current monetary and financial crisis in Southeast Asian on Friday," Moerdiono said.
Tue, 17 Feb 1998, 00:00 WIB
Govt to continue fuel subsidy for the poor
Govt to continue fuel subsidy for the poor JAKARTA (JP): Minister of Mines and Energy I.B. Sudjana said yesterday the government would continue subsidizing fuels used by the poor to prevent them from suffering large price increases. "We have been considering several schemes to raise fuel prices that would not cause much harm to the poor," Sudjana said at a hearing with the House of Representatives Commission V for mines and energy.
Tue, 17 Feb 1998, 00:00 WIB
Rare buffaloes endangered
Rare buffaloes endangered KENDARI, Southeast Sulawesi: The population of rare buffaloes in Southeast Sulawesi has continued to decline because of illegal hunting and logging, an official said. "The dwindling population of Southeast Sulawesi buffaloes should be seen as a catastrophe," a spokesman for the local administration, Yusran Silondae, said here over the weekend.
Tue, 17 Feb 1998, 00:00 WIB
Conversion Rates
Conversion Rates Jakarta (JP): Bank Ekspor Impor Indonesia's (Bank Exim) indicative conversion rates on Feb.16, 1998: Buying Selling Rp Rp U.S.
Tue, 17 Feb 1998, 00:00 WIB
Seven killed in landslide
Seven killed in landslide WONOSOBO, Central Java: A land slide triggered by incessant rain killed at least seven people, seriously injured another five and wrecked four houses Saturday, a report said yesterday. Among those buried alive were a one-month-old baby, a nine- year-old girl and an 18-year-old woman. Quoting eyewitnesses, Antara reported that the disaster occurred between 5:15 p.m.and 9.45 p.m. Saturday. The mud that buried the houses was 60 meters long, 30m wide and 40m high.
Tue, 17 Feb 1998, 00:00 WIB
Wiranto installed, Prabowo promoted
Wiranto installed, Prabowo promoted JAKARTA (JP): New Indonesian Armed Forces Commander Gen. Wiranto vowed to get tough on any attempts to disrupt national development yesterday. Wiranto also warned the nation that certain groups wanted to manipulate the current economic hardship to endanger national stability and continuity of development.
Tue, 17 Feb 1998, 00:00 WIB
Moslem youths protest hoarding
Moslem youths protest hoarding TANGERANG (JP): At least 40 Moslem youths flocked to Tangerang mayoralty's office yesterday to protest the municipality's sluggish response to the rising prices of basic staple foods, partly due to hoarding. The group's arrival at the office caused mayoralty workers to panic and kept the police busy.
Tue, 17 Feb 1998, 00:00 WIB
RI imports more Australian wheat
RI imports more Australian wheat SYDNEY (Reuters): A new deal for Australian wheat with Indonesia, even though the country remains one of Asia's hardest- hit economies, brightened an otherwise threatened and dreary Australian grains market last week. The Australian Wheat Board's (AWB) announcement that Australian wheat would be used to commission a new Indonesian flour mill in Semarang, northeast of Jakarta, marked the beginning of a likely continuing new market.
Tue, 17 Feb 1998, 00:00 WIB
Crisis and expats
Crisis and expats After reading the Sunday edition of The Jakarta Post I was relieved to learn that somebody has finally discovered who is responsible for recent problems in the Indonesian economy. The expatriate workers, of course. Now we know that there were 50,000 of them in December 1997 and that they cost the economy US$3 billion per annum. Now that draining of precious U.S.
Tue, 17 Feb 1998, 00:00 WIB
TV today
TV today TVRI 2:00 p.m. News: Berita 14 2:30 My Country 2:35 Children's Film: The Big Valley 3:10 Teenager's Program: Remaja Indonesia 3:35 Music: Lagu Pop Daerah 4:30 Science and Technology 5:00 English Lessons 5:30 Documentary 6:00 Nusantara, The Beloved Country 6:15 Village Program 6:45 TVRI News 7:00 Evening News 7:35 Talk Show: Wawasan 8:00 News: Lintasan Berita 8:05 Music: Song and Profile 9:00 World News 9:30 My Beloved Country 9:47 Sports: Arena dan Juara 10:47 Late News 10:57 Film:...
Tue, 17 Feb 1998, 00:00 WIB
Rupiah weakens in response peg and riots
Rupiah weakens in response peg and riots JAKARTA (JP): The rupiah again crossed the 10,000 barrier against the U.S. dollar yesterday on growing international concern over a fixed exchange rate plan for the currency and spreading riots. Stockbrokers said share prices on the Jakarta Stock Exchange (JSX) defied the rupiah's fall and rose 2.1 percent on selected foreign buying of prospective shares. Currency dealers said criticism from the International Monetary Fund (IMF) and the U.S.
Tue, 17 Feb 1998, 00:00 WIB
MMC hospital raises room rates
MMC hospital raises room rates JAKARTA (JP): The economic crisis has forced the Metropolitan Medical Center (MMC) Hospital in Kuningan, South Jakarta, to raise its upper-class room rates by 10 percent since last month, its development director, Robby Tandiari, said Saturday. Robby said the royal room rate and super VIP room rate were raised from Rp 425,000 to Rp 450,000 and from Rp 400,000 to Rp 425,000 per day respectively, while the first-class rate increased from Rp 175,000 to Rp 220,000.
Tue, 17 Feb 1998, 00:00 WIB
Editing arrogance
Editing arrogance Those of us who have, over many years, contributed to the "Your Letters" column, and subscribed to the newspaper, are well aware that the editorial arrogance of The Jakarta Post team knows no bounds. Whole sections of letters are slashed, the meaning completely changed, and then published, with the contributor unable to recognize his own work. This arrogance extends to the editorial staff reviewing articles for the "Features" column.
Tue, 17 Feb 1998, 00:00 WIB
Hopewell income from RI
Hopewell income from RI HONG KONG (Reuters): Hopewell Holdings Ltd chairman Gordon Wu said yesterday the company expected annual pre-tax income from its Tanjung Jati B project in Indonesia of about HK$2.1 billion once the power plant comes on stream in 2000. The plant will provide 60 percent of Hopewell's annual future income, Wu told Reuters in an interview.
Tue, 17 Feb 1998, 00:00 WIB
Dharmala building target of bomb hoax
Dharmala building target of bomb hoax JAKARTA (JP): A bomb threat prompted the evacuation of 2,000 office workers from Wisma Dharmala Sakti building on Jl. Jend. Sudirman, South Jakarta yesterday. A phone call was received at 9 a.m. from an unidentified man who threatened to blow up the building, Esther Ida Yuniarsih, a public relations officer of PT Dharmala Intiland, the building owner, said.
Tue, 17 Feb 1998, 00:00 WIB
Where to go in Bandung:
Where to go in Bandung: Exhibitions * Painting Exhibition: International Indonesian Paintings Exhibition 1998 by Jeihan, Popo, Erica Hestu Wahyuni, Krisna Murti, Faizal, Maria Tjui, etc., at Grand Aquila Hotel, lobby, Jl. Dr. Djundjunan No. 116, until Feb. 28. * Painting and Goods Exhibition: Calligraphy Paintings by Asep Sutisna and Iskandar Wiradinata, Traditional Antique and Unique Goods by Emfam Collections, at Preanger Aerowisata Bandung Hotel, Lobby, Jl. Asia Afrika No. 81, until Feb. 28.
Tue, 17 Feb 1998, 00:00 WIB
Tangerang to raise tap water tariffs
Tangerang to raise tap water tariffs TANGERANG (JP): Regency-owned drinking water company PDAM Tangerang will raise its tariffs for tap water supplied to Jakarta 26.6 percent, a company director said over the weekend. Director of general affairs Dadan Hendra Sambas said the tariff increase, from Rp 450 to Rp 570 per cubic meter, was unavoidable because the company had huge debts to domestic and foreign lenders.
Tue, 17 Feb 1998, 00:00 WIB
Alatas opens UN backed disarmament conference
Alatas opens UN backed disarmament conference JAKARTA (JP): Minister of Foreign Affairs Ali Alatas opened a conference on disarmament yesterday by calling on regional nuclear powers to respect Southeast Asia's desire to remain free of nuclear weapons and to support a landmark treaty signed last year enforcing this.
Tue, 17 Feb 1998, 00:00 WIB
More hot spots detected in Kalimantan
More hot spots detected in Kalimantan JAKARTA (JP): Minister of Forestry Djamaludin Suryohadikusumo said satellite imagery from the U.S. National Oceanic and Atmospheric Administration had revealed 895 hot spots in East Kalimantan yesterday. Last Tuesday 200 hot spots were detected. By Friday this number had risen to 618, Djamaludin said here yesterday. The minister accused 17 companies of starting fires but declined to reveal their names. "I can't name the alleged culprits for the time being.
Tue, 17 Feb 1998, 00:00 WIB
She does it to support family
She does it to support family By Sri Wahyuni YOGYAKARTA (JP): Endah Fariana claims any woman can do what she does for a living -- drive an inter-provincial bus for 600 kilometers every day -- though she concedes that not many would want to. An employee of transportation company PO Raharja, she drives a 50 seater air-conditioned bus from Yogyakarta to Purwokerto, three times a day.
Tue, 17 Feb 1998, 00:00 WIB
Tycoons to donate food packages to 100,000 families
Tycoons to donate food packages to 100,000 families JAKARTA (JP): Three of the country's tycoons -- Sudono Salim, Sukamdani Sahid Gitosardjono and The Nin King -- pledged yesterday to provide staple food worth Rp 3 billion to 100,000 Jakarta families. Each family will receive a package containing five kilograms of rice, a liter of cooking oil and 40 packets of instant noodles, businessman Sukamdani told a local TV reporter after a meeting with Governor Sutiyoso.
Tue, 17 Feb 1998, 00:00 WIB
Fresh riots hit West Java and S. Sumatra towns
Fresh riots hit West Java and S. Sumatra towns BANDUNG (JP): Fresh rioting hit the West Java town of Pangalengan yesterday while unrest continued in the South Sumatra subdistrict of Pagaralam. In Pangalengan, police arrested three people on charges of inciting the riot in which eight shops were attacked and looted before the situation was brought under control. The riot coincided with a mass strike by bus drivers protesting against spiraling prices of essential commodities and auto parts.
Tue, 17 Feb 1998, 00:00 WIB
Habibie unchallenged in VP election
Habibie unchallenged in VP election JAKARTA (JP): Golkar chairman Harmoko bowed out of the vice presidential race yesterday, leaving the coast clear for State Minister of Research and Technology B.J. Habibie to press forward unchallenged.
Tue, 17 Feb 1998, 00:00 WIB
Bakrie meets creditors
Bakrie meets creditors JAKARTA (JP): PT Bakrie & Brothers held a meeting with representatives of its international creditors yesterday to restructure its foreign debts. Aburizal Bakrie, chairman of the Bakrie Group, said at the meeting: "The key to our future lies in executing now a restructuring of our debt exposure with, rather against, our lenders." Publicly listed Bakrie & Brothers is under the Bakrie Group.
Tue, 17 Feb 1998, 00:00 WIB
New chief for Bogor prosecutors
New chief for Bogor prosecutors BOGOR (JP): Djuharia Anwar, 50, was installed yesterday as head of the Bogor Prosecutor's Office. He replaced Umar, who has been promoted to head the legal affairs and enforcement subdirectorate of the Attorney General's Office directorate of economic crimes. The installation ceremony held at Bogor Legislative Council was led by Abdul Rahem Akaf, head of the West Java Provincial Prosecutor's Office.
Tue, 17 Feb 1998, 00:00 WIB
IMF chief confirms threat to Indonesia over dollar peg
IMF chief confirms threat to Indonesia over dollar peg BRUSSELS (AFP): The International Monetary Fund has warned Indonesian that its 43-billion-dollar bailout of the country could be jeopardized by its plan to peg the rupiah to the dollar, IMF Managing Director Michel Camdessus said here yesterday.
Tue, 17 Feb 1998, 00:00 WIB
Worries over RI standoff tug down bourses
Worries over RI standoff tug down bourses SINGAPORE (AFP): Worries over a damaging standoff between Indonesia and the International Monetary Fund (IMF) over a pegged exchange-rate sparked a sell-off on Asia-Pacific stock markets yesterday. An IMF warning to Jakarta to give up its plan to institute a currency board regime pegging the ailing rupiah to a fixed rate against the dollar shook already fragile stock market sentiment region-wide. Singapore was the worst-hit, closing 4.6 percent lower.
Tue, 17 Feb 1998, 00:00 WIB
Malaysia, Singapore discuss regional woes
Malaysia, Singapore discuss regional woes KUALA LUMPUR (Reuters): The leaders of Malaysia and Singapore met yesterday to discuss the region's economic turmoil but did not offer specific solutions to overcome it, a Malaysian minister said. Meeting for the third time in a month, visiting Singapore Prime Minister Goh Chok Tong also discussed long-standing bilateral issues for 90 minutes with his Malaysian counterpart, Mahathir Mohamad.
Tue, 17 Feb 1998, 00:00 WIB
Pudjiadi sells assets to pay foreign debts
Pudjiadi sells assets to pay foreign debts JAKARTA (JP): Publicly listed hotel operator PT Pudjiadi & Sons Estates Ltd. is selling its property assets in the U.S. to pay its foreign debts. The company's shareholders agreed Feb. 13 to the company's proposal to sell its assets in Texas -- the 20,400 square meter Twin Sixties Tower office building, the 228-room, four-star Hotel Radisson in central Dallas and 5 hectares of land -- to Whitehall Street Property Fund, an affiliate of U.S.
Tue, 17 Feb 1998, 00:00 WIB
State timber firms in Sumatra to merge
State timber firms in Sumatra to merge JAKARTA (JP): State timber companies PT Inhutani IV and PT Inhutani V will be merged into a single company, a minister said yesterday. Minister of Forestry Djamaludin Suryohadikusumo said the merger of the two Sumatran-based companies would improve forest management on the island. The two state companies manage the forests of Sumatra.
Tue, 17 Feb 1998, 00:00 WIB
Concern over economic disparity
Concern over economic disparity From Republika The gathering of Moslems after Ramadhan to exchange expressions of forgiveness (halal bihalal) at Monas Square in the evening of Feb. 2, organized by the Jakarta Administration and the MUI (Indonesian Council of Ulemas), has given birth to a pledge by Moslems from 30 organizations and the MUI.
Tue, 17 Feb 1998, 00:00 WIB
Soybean import duty lifted
Soybean import duty lifted JAKARTA (JP): The government has abolished its 20 percent import duty on soybeans to curb further price increases of the commodity in the domestic market. The Ministry of Finance said yesterday that the move was needed to stabilize soybean trading. The ministry also announced an extension of its import duty exemption facilities on the import of ship spare parts and ship safety equipment.
Tue, 17 Feb 1998, 00:00 WIB
Bulog to supply 4.3m tons of rice in 1998/1999
Bulog to supply 4.3m tons of rice in 1998/1999 JAKARTA (JP): The State Logistics Agency (Bulog) said yesterday it would supply 4.3 million tons of rice to the market in the 1998/1999 fiscal year to ensure price stability. Agency chairman Beddu Amang refused to disclose how much of the amount would be imported. But Antara reported yesterday about 1 million tons of rice would come from local growers, while the remaining 3.3 million tons would be imported.
Tue, 17 Feb 1998, 00:00 WIB
Private schools delay fee hike plans
Private schools delay fee hike plans JAKARTA (JP): Some private schools in the city have temporarily postponed increasing monthly tuition fees and the upcoming yearly admission payment due to the nation's economic woes. When contacted by The Jakarta Post over the weekend, the schools' operators vowed to try to maintain the current tariffs unless they had no other option.
Tue, 17 Feb 1998, 00:00 WIB
Stock Exchange
Stock Exchange Stock prices on the Jakarta Stock Exchange (in rupiah) on Feb. 16, 1998: Shares Close Change Trading Volume -------------------------------------------------------- Ades Alfindo 575 -125 17,500 AHAP Insurance 350 0 0 Alter Abadi 575 0 0 Alumindo Light Metal 325 -25 3,350,000 Alumindo Perkasa 275 0 2,500 Aneka Kimia Raya 550 -50 397,500 Aneka Tambang 1,625 50 4,733,000 Anwar Sierad 200 -25 52,000 Apac Centertex Corp.
Tue, 17 Feb 1998, 00:00 WIB
Indonesia's currency board dilemma
Indonesia's currency board dilemma It is quite normal for international financial institutions (the IMF and the World Bank) to say that Indonesia should not rush into implementing the currency board system before it has fully implemented its current economic reform package. We understand their concern over the possibility that the reform package will not be fully executed. The warnings given by the IMF and the World Bank deserve to be considered thoroughly.
Tue, 17 Feb 1998, 00:00 WIB
PT Nestle defends its Tangerang distributor
PT Nestle defends its Tangerang distributor JAKARTA (JP): PT Nestle Indonesia, one of the country's largest milk producers, denied yesterday that its Tangerang-based distributor PT Pangan Elok Mandiri housed stockpiles of its products. The company's vice president, Rudianto, said the products which were allegedly hoarded by the distributor consisted of reserve products to be used in anticipation of any demand fluctuations. "It was done with the consent of PT Nestle.
Tue, 17 Feb 1998, 00:00 WIB
Govt to consult IMF on CBS plan, minister says
Govt to consult IMF on CBS plan, minister says JAKARTA (JP): The government will consult the International Monetary Fund (IMF) over its plan to adopt a currency board system which would peg the rupiah to a fixed exchange rate, the state minister of national development planning said yesterday. Ginandjar Kartasasmita told a hearing with the House of Representatives Commission VIII that the CBS was one of several alternatives being considered by the government to shore up the rupiah.
Tue, 17 Feb 1998, 00:00 WIB
CBS may rock banking industry and forex reserves
CBS may rock banking industry and forex reserves The government's plan to adopt the Currency Board System (CBS) has raised public debate on its advantages and disadvantages. Economist Kwik Kian Gie looks at the risks of the system. JAKARTA (JP): Hong Kong, whose foreign exchange reserves by far exceed its annual import value, can expand its money supply every year in line with its economic growth even though it has to provide US$1 for each HK$7 it adds to the market because its U.S.
Tue, 17 Feb 1998, 00:00 WIB
Sliding rupiah further shakes Asian currencies
Sliding rupiah further shakes Asian currencies SINGAPORE (Reuters): Asian currencies suffered from the Indonesian rupiah's whims yesterday in the face of growing international resistance to Jakarta's plans to adopt a currency board system. The rupiah pulled off its early low of 10,800 to the dollar following persistent dollar sales by U.S. investment banks around the 10,500 level.
Tue, 17 Feb 1998, 00:00 WIB
Rates for Tax Payment
Rates for Tax Payment JAKARTA (JP): The government announced yesterday new official conversion rates as the basis for payment of import duty, value added tax on goods and services, sales tax on luxury goods, export tax and income tax. The new conversion rates will be valid for one week, from Feb. 16 to Feb. 22: U.S.
Tue, 17 Feb 1998, 00:00 WIB
U.S. investors show interest in agricultural industry
U.S. investors show interest in agricultural industry JAKARTA (JP): U.S. investors have expressed interest in Indonesia's agricultural sector, an executive of the Indonesian Chamber of Commerce and Industry (Kadin) has said. The head of Kadin's U.S. committee, Tony Agus Ardie, said after a luncheon with 12 visiting U.S. businesspeople here yesterday that they were drawn to Indonesia's agricultural sector because it had all of the required resources. "U.S.
Tue, 17 Feb 1998, 00:00 WIB
Eight RI migrants rescued
Eight RI migrants rescued KUALA LUMPUR (Reuters): Malaysian police have found eight illegal Indonesian immigrants who survived a shipwreck which claimed at least eight lives, news reports said yesterday. The survivors, who had no travel documents, told police they had not eaten anything for the last three days. Their boat hit a coral reef near Tanjung Siang, 100 km off Malaysia's southern city of Johor Baru on Friday, the national Bernama news agency reported.
Tue, 17 Feb 1998, 00:00 WIB
Emil exercises democracy with VP bid
Emil exercises democracy with VP bid JAKARTA (JP): Landslide support for B.J. Habibie failed to push former environment minister Emil Salim out of the race for the vice presidency yesterday. Emil, who has strong support from fellow academics, pro- democracy activists and the public alike, will continue his bid for the post in an "exercise of democracy".
Tue, 17 Feb 1998, 00:00 WIB
Soeharto-Habibie duo in next month's elections
Soeharto-Habibie duo in next month's elections JAKARTA (JP): State Minister of Research and Technology B.J. Habibie has a clear run-in to the vice presidential elections, now that his main rivals have bowed out. The People's Consultative Assembly compiled, at the request of various groups, a list of 14 leading figures whom it viewed as potential vice-presidential contenders, during its three-month session which concluded last month.
Tue, 17 Feb 1998, 00:00 WIB
Japanese govt pledges to assist Indonesia
Japanese govt pledges to assist Indonesia JAKARTA (JP): The Japanese government has reaffirmed its previous pledge that it would help Indonesia resolve its economic crisis. A Japanese economic mission, led by Tadao Chino, assured the President yesterday that Japan would do its best to help Indonesia. "In the talks with the President, I conveyed Japan's determination as an old friend to support Indonesia in overcoming the problems it faces," Chino said yesterday.