Indonesian Political, Business & Finance News

Archive: 24 February 1998

54 articles found

Garuda to use 26 aircraft for haj pilgrimage

Garuda to use 26 aircraft for haj pilgrimage JAKARTA (JP): President Soeharto has approved the deployment of 12 aircraft made before 1982 to transport Indonesian haj pilgrims to Saudi Arabia starting next week, a minister said yesterday. Minister of Transportation Haryanto Dhanutirto said Garuda Indonesia would deploy 26 jets to transport the 202,000 pilgrims, including three made before 1980 which would be kept in reserve.

Factions warn legislators against backing Emil Salim

Factions warn legislators against backing Emil Salim JAKARTA (JP): Faction leaders in the People's Consultative Assembly cautioned their members yesterday against voting for senior economist Emil Salim in the vice presidential election next month. Golkar deputy chairman Abdul Gafur said punitive measures would await anyone from the ruling political group who dissented from the party line and supported Emil. However Gafur refused to go into details about the possible punishments.

Family welfare award for 'Ibu' Tien

Family welfare award for 'Ibu' Tien JAKARTA (JP): President Soeharto received an award yesterday on behalf of his late wife, Tien Soeharto, honoring her outstanding contribution to the Family Welfare Movement. In a simple ceremony at Soeharto's private residence on Jl. Cendana, Central Jakarta, Minister of Home Affairs Moch. Yogie S.M. said the Paramahita Nugraha award was presented because of Tien's major role in the movement whose aim is to improve Indonesian families' standard of living.

Pawnshop loans drop drastically

Pawnshop loans drop drastically JAKARTA (JP): Monthly loans issued by the city's 23 state-run pawnshops dropped last month by 11.76 percent to Rp 30 billion (US$3.16 million), the first such plunge in many years. City Pawnshop Office spokesman Soeparto told The Jakarta Post that the significant post-Idul Fitri holiday drop was amazing.

SEA Games consortium to report to government on stickers

SEA Games consortium to report to government on stickers JAKARTA (JP): State Minister of Youth Affairs and Sports Hayono Isman said yesterday the consortium appointed to raise funds for last year's 19th SEA Games would present an audited report on its fund-raising through sticker sales to the government and the people in March or April.

Disastrous love affair amid crisis

Disastrous love affair amid crisis MAUMERE, East Nusa Tenggara (JP): A man, who found comfort in the arms of another woman to avoid his wife's complaints about the monetary crisis, suffered the ultimate punishment when his jealous spouse bit his penis. Paleng Muhamad, 35, from Sikka district, was flat on his back in Santa Elisabet Lela Hospital here when relatives informed him that his wife, Mariam Majiah, 26, was found dead -- three days after the lovers' spat.

IBF has other sponsors

IBF has other sponsors JAKARTA (JP): International Badminton Federation (IBF) vice chairman Justian Suhandinata said yesterday that the federation had an alternative sponsor if Indonesia-based cigarette company, PT. HM. Sampoerna, withdrew from the Thomas and Uber Cups championships in Hong Kong in May. "The IBF is optimistic that we can still stage the events on time because we have an alternative if the main sponsor cannot fulfill its promise," he said.

Wardiman opens science week

Wardiman opens science week SEMARANG: This year's National Science Week, hosted by Diponegoro University, is suffering the effects of the worsening economic crisis. Only 36 of the 1,400 colleges across the country are taking part in the festival at Diponegoro University that features exhibitions, seminars and cultural shows.

Govt to intensify fight against forest fires

Govt to intensify fight against forest fires JAKARTA (JP): The government is to intensify its battle against forest and land fires in East Kalimantan through cloud seeding this week, a senior Ministry of Forestry official said yesterday. Director General of Forest Protection and Nature Preservation Soemarsono said cloud seeding was needed to back up fire-fighting efforts on the ground. "Details of the plan are being prepared, but Insya Allah (God willing) we'll start Friday.

Donors urged to respect rights

Donors urged to respect rights KUALA LUMPUR (AFP): Malaysian Finance Minister Anwar Ibrahim said yesterday that foreign donors helping countries in distress should respect the rights of citizens to determine their own future, Bernama news agency reported. "While we can accept views that are reasonable, the citizens' right to self-determination has to be respected," he was quoted as telling reporters, echoing recent remarks about Indonesia by Prime Minister Mahathir Mohamad.

JSX stock prices rise 2 percent, rupiah down

JSX stock prices rise 2 percent, rupiah down JAKARTA (JP): Stock prices on the Jakarta Stock Exchange (JSX) rose 1.9 percent yesterday on the back of speculative buying of selective stocks, brokers said. The brokers said arbitrage trading in big capitalized stocks, such as PT Telkom, PT Indosat and tin mining company PT Tambang Timah, bolstered prices in the local bourses.

Nico loses OPBF mini flyweight title

Nico loses OPBF mini flyweight title JAKARTA (JP): Indonesian Nico Thomas failed to retain the Orient-Pacific Boxing Federation mini flyweight title after he was outpointed by eighth-contender Uruf Tokimitsu of Japan. The bout was held on Sunday at Kurashi Citi in Osaka. Two judges scored in favor of Uruf and one judge, from Indonesia, scored in favor of Nico.

Govt to continue clove trading arrangement

Govt to continue clove trading arrangement JAKARTA (JP): Despite an official disbandment of the private sector clove trade monopoly, a similar trade arrangement will remain in place, Minister of Cooperatives and Small Enterprises Subiakto Tjakrawerdaya has said. Speaking to journalists after meeting President Soeharto at the Bina Graha presidential office, Subiakto said Soeharto has liberalized clove trading through Presidential Decree No. 21/1998.

Tight liquidity forces banks to raise interest rates

Tight liquidity forces banks to raise interest rates JAKARTA (JP): Increasingly tight liquidity and anticipation over the government's plan to adopt a currency board system (CBS) have prompted banks to raise interest rates, bank analysts have said.

Police break up protest by women giving flowers

Police break up protest by women giving flowers JAKARTA (JP): Police broke up a small, peaceful, demonstration by housewives complaining about soaring prices at the Hotel Indonesia roundabout on Jl. M.H. Thamrin in Central Jakarta yesterday. Three of the dozen protesters, who handed out flowers to the scores of heavily armed soldiers deployed at the scene in front of several international hotels, were arrested because the group had acted without a police permit, officials said.

Unhusked rice output fell 3.62 percent last year

Unhusked rice output fell 3.62 percent last year JAKARTA (JP): Indonesia's unhusked rice output dropped 3.62 percent to 49.25 million tons last year, down from 51.1 million tons in 1996, due to prolonged drought and forest fires, the Central Bureau of Statistics announced yesterday. Many reservoirs ran dry during last year's drought, hindering the supply of water to many rice producing regions and leading to reduced yields and crop failure.

SE Asian palm oil prices likely to be firmer

SE Asian palm oil prices likely to be firmer KUALA LUMPUR (Reuters): Southeast Asian palm oil prices are likely to be firmer this week with buyers expected to dominate trading on the back of good fundamentals, regional traders said. Local currency fluctuations will also remain a key market factor. "The fundamentals are still very supportive," a vegetable oil dealer in Singapore said. "The Indonesian ban is still on. I think the (Malaysian) ringgit will start to weaken again.

Bank NISP may seek new investors to merge

Bank NISP may seek new investors to merge JAKARTA (JP): Publicly listed Bank NISP has said it is considering seeking new investors in order to meet the central bank's new minimum paid-up capital requirement. Bank NISP president Pramukti Surjaudaja said here yesterday a merger with other domestic banks was also a possibility to fulfill the new capital requirement of Rp 1 trillion (US$111 million) which goes into effect at the end of this year.

Conversion Rates

Conversion Rates JAKARTA (JP): Bank Ekspor Impor Indonesia's (Bank Exim) indicative conversion rates on Feb. 23, 1998: Buying Selling Rp Rp U.S.

Lippo Securities' new boss

Lippo Securities' new boss JAKARTA (JP): Eddy Handoko has been appointed the new president of the Lippo Group's securities arm PT Lippo Securities. The company said yesterday Handoko, currently deputy president of Lippobank, would replace Charles de Queljoe, who has been assigned as a Lippo Group representative to the United States. Handoko's appointment is now pending approval from the company's shareholders who will meet in May.

Police shoot, kill alleged drug dealer

Police shoot, kill alleged drug dealer JAKARTA (JP): A 21-year-old suspected drug dealer was shot dead by police after allegedly resisting arrest in Pancoran, South Jakarta, early yesterday. Police said A.R. Edi Andri had been on their wanted list for his alleged role in several drug-related crimes in the city. "We finally had to shoot Edi because he ignored warning shots and tried to attack one of the officers with a knife," city police spokesman Lt. Col. E. Aritonang said.

Hospitals banned from raising fees

Hospitals banned from raising fees DILI, East Timor: Health Minister Sujudi has said public clinics and hospitals across the country are not allowed to raise service fees despite the monetary crisis, according to a health official. "An increase in service fees coupled with a three to fourfold increase in the price of medicines would pose an extremely heavy burden on the public," the head of the East Timor Health Service, Alex Unusfinit, said Saturday.

Asian markets end mixed amid rupiah uncertainty

Asian markets end mixed amid rupiah uncertainty HONG KONG (AFP): Asian markets ended trading yesterday with mixed results on a general lack of leads and continued confusion over Jakarta's plans to adopt a currency board system for its beleaguered currency, analysts said. While most markets made slight gains, Kuala Lumpur share prices were down amid ringgit worries linked to uncertainty over the rupiah and the currency board system.

Update electrical wiring in markets: Fire Dept.

Update electrical wiring in markets: Fire Dept. JAKARTA (JP): The City Fire Department has urged PD Pasar Jaya, a city-owned market management firm, and the state electricity company, PLN, to immediately improve the installation of electricity at traditional markets to reduce the risk of fire. Suharso, head of the department, said yesterday that most electricity installations in the markets were outdated and must soon be replaced. "Worse, many of the stalls have been modified by the users.

Gresik to export cement

Gresik to export cement JAKARTA (JP): State cement producer PT Semen Gresik will export part of its production to Australia and Columbia due to a continued fall in domestic demand. Gresik spokesman Bambang Subroto said Saturday that company export activities would begin in March, with at least three shipments per month. "The first shipment will be 25,000 tons of cement while the second and third shipments will be about 50,000 tons each," Antara quoted him as saying.

Fires and man ravage national park's wildlife

Fires and man ravage national park's wildlife By Iskandar Zulkarnaen TELUK PANDAN, East Kalimantan (Antara): A mother orangutan and her two young were panicky as they tried desperately to flee an advancing forest fire by crossing a road in the Kutai National Park. "I witnessed the scene myself during the forest fire in the Temputuk-Teluk Pandan area," the head of the park, Warsito, said sadly.

Resettlement sites disputed

Resettlement sites disputed JAYAPURA, Irian Jaya: Minister of Transmigration Siswono Judohusodo is in Irian Jaya to investigate the controversy over the establishment of two resettlement sites, a local official said here yesterday. The resettlement sites are located in Senggi and Armopa in the district of Bonggo. Built in the jungle, the choice of localities has raised fears that the resettlers would be isolated and unable to sell their agricultural products, Antara reported.

Nigerian man may face 10 years in jail for trafficking heroin

Nigerian man may face 10 years in jail for trafficking heroin JAKARTA (JP): A prosecutor yesterday asked the Central Jakarta District Court to sentence a Nigerian man to 10 years in jail and fine him Rp 1 million for selling 80 grams of heroin. Before presiding Judge Madnyono opened the trial, the defendant Isfaya Ede, alias Ciko, told the court through his interpreter that he had severed contracts with his three lawyers because they had been dishonest.

Exhibition speaks for RI arts history

Exhibition speaks for RI arts history JAKARTA (JP): Directorate General of Culture is holding a historical Indonesian fine arts exhibition at the Ministry of Education and Culture's art gallery, on Jl. Merdeka Timur 14, Central Jakarta, beginning yesterday. The one-month historical event held to commemorate the 11th birthday of Ministry of Education and Culture's art gallery features 350 masterpieces.

Councilors want plan to cut tax put on hold

Councilors want plan to cut tax put on hold JAKARTA (JP): City councilors urged the municipality yesterday to ask the central government to postpone the planned enactment of Law No. 18/1997 which would reduce the number of regional taxes and levies.

Habibie for VP: Victory for Soeharto

Habibie for VP: Victory for Soeharto State Minister for Research and Technology B.J. Habibie has emerged as the sole candidate for vice president in the 1998-2003 term, weeks before the People's Consultative Assembly (MPR) is due to meet. Riswandha Imawan, a lecturer in political science at Gadjah Mada University in Yogyakarta, discusses the procedure for his nomination and predicts future political development.

Baby sitters

Baby sitters From Media Indonesia I would like to warn those considering employing a babysitter to be careful with whom they choose, because not all members of that profession are reliable. Last July, when my baby was two months old, I employed a babysitter from a foundation in the Rawabelong area, West Jakarta. Staff at the foundation told me that the babysitter had been trained but had no practical experience.

Economy class fares to be fixed till April

Economy class fares to be fixed till April JAKARTA (JP): The government will not raise economy class public transportation fares before April, Minister of Transportation Haryanto Dhanutirto said yesterday. The minister, however, said that his ministry would provide soft loans to transportation cooperatives across the country to help them cope with the economic crisis that has resulted in soaring prices of automotive spare parts.

Soldiers seize homemade M-16

Soldiers seize homemade M-16 SAMARINDA, East Kalimantan: Soldiers here seized a homemade rifle shaped like the U.S.-made M-16 and arrested a retired police officer and his accomplice, Antara reported yesterday. Lt. Col. Sudjatmoko, the Bontang military commander, said the 47-year-old retired officer he refused to name claimed to have obtained the rifle from a friend.

13 warehouse owners detained for hoarding

13 warehouse owners detained for hoarding JAKARTA (JP): At least 13 warehouse owners are in police custody and will be tried for deliberately hoarding staple foods for their own benefit, an officer said yesterday. The suspects were caught during separate operations staged in Jakarta and several major cities in Central Java, Yogyakarta and Bali, National Police spokesman Brig. Gen. Da'i Bachtiar said. "Out of the 13 suspects, seven are from Greater Jakarta," he said.

An expat's view on crisis

An expat's view on crisis Why do we have a worse problem in Indonesia than in the neighboring countries? Allow an amateur economist to present a condensed answer. Three different problems struck us at the same time. A long- pent-up devaluation pressure, a shaky banking system and a political credibility problem. The total effect of these was too much for an economy to stand. We had the last devaluation in September 1986, when the rupiah went to Rp 1,200 on the U.S. dollar.

Australia considers food aid package for Indonesia

Australia considers food aid package for Indonesia CANBERRA (Reuters): Australia will hold negotiations with Indonesia on an emergency food aid program aimed at averting riots over food shortages and soaring prices, Australian Foreign Minister Alexander Downer said yesterday. Downer said government aid agency AusAID was assessing the situation in Indonesia and director-general Trevor Kanaley had been told to start negotiations in Jakarta later this week on the supply of emergency food aid.

Chinese-Indonesians not at home in China

Chinese-Indonesians not at home in China By Justin Jin BEIJING (Reuters): Every time Xu Baimin writes a letter home to Indonesia, her sister there slips the postman a small tip when he makes the delivery. The money seals the postman's lips about Xu, an Indonesian ethnic Chinese who returned to the motherland in 1958 and stayed on, finding work as an engineer and settling in Beijing to marry and raise a family.

Wiranto warns of groups seeking radical reform

Wiranto warns of groups seeking radical reform JAKARTA (JP): Armed Forces Commander Gen. Wiranto charged yesterday there were groups in Indonesian society seeking to engineer radical political and economic reform. "Their intermediate target is to disrupt the upcoming General Session of the People's Consultative Assembly (MPR)," said Wiranto when addressing a ceremony held to mark the transfer of duty of Army chief of staff from himself to Gen. Subagyo Hadisiswoyo.

My husband, an expat

My husband, an expat I was born in Indonesia and raised in Menteng, Central Jakarta, but have been away for over 20 years. I'm writing this in view of the present crisis and the letters that have been written about expatriates. It took me a few years to convince my husband for us to live in Jakarta. I would like our children to get to know my family better and my background as well.

Lightning strike kills 2, injures 8

Lightning strike kills 2, injures 8 TANGERANG (JP): Two sand miners were killed and eight others injured when lightning struck a hut in Dandang village, Serpong, here Sunday evening. Uding, 30, and Agus, 28, died in the freak accident. The men's colleagues Epe, Suwad, Kanda, Lili, Hasan, Rosa, Umar and Hendra, aged between 20 and 35, suffered injuries and some lost consciousness. Second Sgt.

KONI to send Yayuk and badminton teams to Asiad

KONI to send Yayuk and badminton teams to Asiad JAKARTA (JP): The National Sports Council will only definitely send world-ranked-23 tennis player Yayuk Basuki and the men's and women's badminton teams to the 13th Asian Games in Bangkok in December. The council's Asiad training director, Muhammad Hindarto, said yesterday that Yayuk and the badminton squads had already reached the necessary international standard and that the council had no doubts about fielding them in the quadrennial event.

Asian currencies pressured by dollar

Asian currencies pressured by dollar SINGAPORE (Reuters): A disappointing response from the Group of Seven (G-7) finance ministers to Asia's problems gave the U.S. dollar renewed strength yesterday and put all the Asian regionals under pressure. But rather than stick together as a group, the Asian currencies set off on individual paths downward with the Indonesian rupiah out on its own in front.

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 Development Program: Hamkamnas 4:30 Teenager's Drama: Nostalgia 5:00 English Lessons 5:30 Documentary Film 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: Orkes Symphoni 9:00 World News 9:30 Music: Gebyar Dangdut 10:30 Late News 10:40 TV Series: Martin...

Asia's rubber trade seen to be at standstill

Asia's rubber trade seen to be at standstill SINGAPORE (Reuters): Asia's rubber trade is likely to maintain its rangebound state this week, with the political situation in Indonesia and the performance of regional currencies the main factors for business, traders said yesterday. "The market has been very quiet in the past one-and-a-half weeks. There are too many uncertainties in this region (which are) keeping players largely on the sidelines," said one dealer at a commodity house in Singapore.

Bakrie gets approval to merge its 4 banks

Bakrie gets approval to merge its 4 banks JAKARTA (JP): The Bakrie Group has received government approval to merge its four banks into a single institution with combined assets of Rp 6 trillion (US$666 million). The group said yesterday the Ministry of Finance has approved its planned merger of Bank Nusa Internasional, Bank Nasional, Bank Nasional Komersil and Bank Angkasa.

Asian crisis hits military exercises

Asian crisis hits military exercises SINGAPORE (Reuters): Asian countries have scaled back or postponed planned military exercises with the United States due to the region's financial crisis, a senior U.S. military official said yesterday. "It has to do with the budgets that the countries have to deal with. They've just said we have to find ways to save money and so we are not able to support these exercises," said Lieutenant General Eugene Santarelli.

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, to 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, to Feb. 28.

National ID cards

National ID cards From Suara Karya Many low-income people have been complaining about the high administrative cost attached to changing regional ID cards into national ID cards. The procedure is further complicated by irregular costs, an additional financial burden. The national ID card looks like a credit card but it is more expensive to process than the regional one. It is unsuitable for most of Indonesia's farmers, laborers, fishermen, workers, etc.

Analyst says Indonesian outlook bleak

Analyst says Indonesian outlook bleak HONG KONG (Reuters): Indonesia faces a troubled future of social and political uncertainty and part of the blame belongs to the International Monetary Fund, an expert on the country said yesterday. Eugene Galbraith, group head of research for ABN Amro and an Indonesia resident for 16 years, said risks to stability were likely to come from the country's periphery, rather than from Jakarta, which was more firmly under the control of internal security forces.

Govt undecided on CBS implementation: Mar'ie

Govt undecided on CBS implementation: Mar'ie JAKARTA (JP): The timing on when Indonesia would implement its plans to peg the battered rupiah to a single foreign currency through a currency board system (CBS) depended on President Soeharto, Minister of Finance Mar'ie Muhammad said yesterday. "Let's just wait for his decision... Honestly, I don't know when," Mar'ie said in reply to questions from the House of Representatives regarding the timetable for the CBS plan.

Showtime for endangered turtles on a dark East Java beach

Showtime for endangered turtles on a dark East Java beach By Tarko Sudiarno BANYUWANGI, East Java (JP): It is a thrilling experience to watch turtles lay their eggs under the cover of darkness at Meru Betiri National Park in Banyuwangi regency, East Java. Humans are not the only fascinated observers along the strip of the Sukamade coastline. Black panthers also look on from the camouflage of sparse brush, probably drooling in anticipation.

Stock Exchange

Stock Exchange Stock prices on the Jakarta Stock Exchange (in rupiah) on Feb. 23, 1998: Shares Close Change Trading Volume --------------------------------------------------------- Ades Alfindo 675 25 32,500 AHAP Insurance 350 0 0 Alter Abadi 575 75 35,000 Alumindo Light Metal 275 -25 1,004,000 Alumindo Perkasa 275 0 0 Aneka Kimia Raya 575 0 768,000 Aneka Tambang 1,625 0 4,361,000 Anwar Sierad 225 0 35,000 Apac Centertex Corp.

39 governor candidates listed

39 governor candidates listed MAUMERE, East Nusa Tenggara: The province's legislative council has received a record-high 39 names from the public for the next governor, a councilor has said. The candidates will vie for the chair that incumbent governor Herman Musakabe will vacate in July. The council will short-list them next week before submitting the strongest candidates to the Ministry of Home Affairs.