Indonesian Political, Business & Finance News

Archive: 11 March 1998

57 articles found

Legislators to get radio comments

Legislators to get radio comments JAKARTA (JP): Some 500 letters, facsimiles and electronic- mails sent to the General Assembly's radio pool will be presented to the factions as input from the public. Cahya Dwi, the coordinator of the pool, a combined operation for radio coverage of the five-yearly event, said the center had received about 50 communications each day for the past 10 days.

IMF implementation

IMF implementation Having read your article IMF package not in line with the constitution, March 9, 1998, I could not help feeling even more sorry for the millions of Indonesian whose welfare, health and even life are at stake through the games the government thinks it can play with the IMF by constantly bypassing or torpedoing the agreed upon implementation measures.

PLN rotates power outage

PLN rotates power outage MANADO, North Sulawesi: The state electricity company PT PLN has begun to rotate power outage in Manado, Bitun and Minahasa regencies, Antara reported. PLN's North and Central Sulawesi branch office said the water level of Tondono Reservoir, which is used by Tanggari Turbine Power Plant, was very low because of a lack of rain.

Men face 12 years for gold robbery

Men face 12 years for gold robbery JAKARTA (JP): A prosecutor asked West Jakarta District Court yesterday to impose a 12-year sentence on two men for their involvement in a gold robbery which resulted in the fatal shooting of a police sergeant. Prosecutor Muchidin said the defendants, identified as Sudarto, 47, and Ridwan, 25, together with six accomplices -- who are still at large -- robbed Liem Siu Tjui alias Sony on Jl. Dr. Soesilo Raya, Grogol on Aug. 1, last year.

Several MPR members push for negotiations with IMF

Several MPR members push for negotiations with IMF JAKARTA (JP): Several members of the People's Consultative Assembly (MPR) toned down their criticism of the International Monetary Fund (IMF) yesterday, saying that the country must continue to talk with the organization to expedite a full economic recovery. Prominent assembly members called on the soon-to-be formed cabinet to maintain a cooperative stance and conduct negotiations with the IMF.

Guard injured in prison brawl

Guard injured in prison brawl SEMARANG: A guard was injured while trying to break up a brawl among inmates at Kedungpane-Mijen Correctional Facility on Monday, Antara said. Chief of the Central Java Justice Office Soeroso said six inmates had been sent to isolation cells as punishment for their part in the brawl. They may have also forfeited their right to remissions normally given out on Independence Day on Aug. 17, Soeroso said.

City's river project lacks funds

City's river project lacks funds JAKARTA (JP): The municipality does not have a budget sufficient to fund the city river normalization program, Abdul Kahfi, deputy governor for administrative affairs, said yesterday. "I know that one of the reasons floods occur is because there are river banks that have not been cleared yet. Moreover, it is quite hard to force people living along the river banks to move out," he said.

Team to boost exports

Team to boost exports JAKARTA (JP): The minister of industry and trade has formed a special team to boost exports of electronic products in this time of economic difficulty. The minister, through a decree dated Feb. 27, 1998, said the special team would start work on April 1, when the new fiscal year commences. The team, comprising a supervising board, an executive board and administration, would also focus on efforts to attract more electronics-industry investment.

Yogyakarta's moneylenders rely on personal touch

Yogyakarta's moneylenders rely on personal touch By Tedy Novan and Angger Jati Wijaya YOGYAKARTA (JP): Toting a small bag and bantering amiably with traders, the woman made her way through the clutter of the Bantul market. She appeared to be a regular customer, but the bulky logbook under her arm gave her true identity away. For as long as anyone can remember, moneylenders have been a vital part of the communal fabric of traditional markets.

Oops, time's up!

Oops, time's up! JAKARTA (JP): The genial and informative manner of the secretary-general of a huge and influential political organization like Golkar should not be surprising. But in his single-minded enthusiasm to answer questions, Golkar secretary-general Ary Mardjono failed even to hear calls for Assembly members to enter the hall for a plenary session of the People's Consultative Assembly (MPR) that was about to begin.

Album

Album Photo A: Golkar Antara CLOSE TIES: Siti Hardiyanti Rukmana shakes hands with her father, President Soeharto, during a meeting between Golkar executives and the President at his residence on Jl. Cendana, Central Jakarta. Golkar executives met with Soeharto yesterday to consult him on their choice for the vice presidency. Standing in line behind Hardiyanti is outgoing minister of information R. Hartono. Photo B: Habibie Setneg ARE YOU READY?: Vice-presidential nominee B.J.

PSSI executives to be questioned

PSSI executives to be questioned JAKARTA (JP): Police have announced that they will question executives of the All-Indonesian Soccer Federation (PSSI) concerning suspected match-fixing practices allegedly arranged by senior referee Djafar Umar. City Police spokesman Lt. Col. E. Aritonang said yesterday police would question Djafar as soon as the other witnesses had been questioned. "Please notice that we have not named Djafar, or any other people, as a suspect in this case," Aritonang said.

Police break up activists meeting in North Jakarta

Police break up activists meeting in North Jakarta JAKARTA (JP): Police broke up a meeting of activists at a hotel in Ancol, North Jakarta, yesterday and arrested nine people, including stage actress Ratna Sarumpaet who had apparently coordinated the gathering. Officers carrying firearms and clubs arrived at Putri Duyung Cottage just as the meeting was about to begin. North Jakarta Police chief Lt. Col.

Cycling track c'ships planned

Cycling track c'ships planned JAKARTA (JP): The Indonesian Cycling Association will hold the national cycling track championships in Surakarta, Central Java, from May 20 to May 24. The velodrome, located in the Manahan sports complex, was recently inaugurated by President Soeharto. It is reportedly the best sports complex outside Jakarta.

WB, ADB delay aid to Indonesia, Japan goes ahead

WB, ADB delay aid to Indonesia, Japan goes ahead TOKYO (Agencies): The World Bank will delay a one-billion- dollar loan and the Asian Development Bank its US$1.5 billion aid to Indonesia until the country makes clear reform efforts, senior bank officials said in Tokyo and Manila yesterday on the day President Soeharto was reappointed to power.

'Mbak' Tutut best dresser?

'Mbak' Tutut best dresser? JAKARTA (JP): When first daughter Siti Hardiyanti Rukmana passes by, she spreads around a sweet, noticeable whiff of perfume to her surrounding, a nice change for some journalists who have sweated during another hot day chasing their sources. But Siti Hardiyanti, known as Mbak Tutut, is also noticeable for her trade-mark fashion style of light or pastel colored pair of tunic and long skirt, and a veil to match.

National soccer team practices shootouts

National soccer team practices shootouts JAKARTA (JP): The national soccer team is currently practicing penalty shootouts in Surabaya, East Java, under the supervision of coach Rusdy Bahalwan. The team has been training for the Tiger Cup here in September since Feb. 23 and will play a trial match against team Persebaya Surabaya on March 14. Following the practice match, the players will return to their respective clubs to compete in the fourth year of Indonesia's league matches.

Spotlight

Spotlight Photo A: Owens Borobudur Inter-Continental U.S. MISSION: Michael P. Owens, U.S. deputy chief of mission (left), and Walter F. Mondale, former U.S. vice president (middle), chat with Michel Tourniaire, general manager and vice president of Borobudur Inter-Continental Jakarta. The VIP guests arrived on March 2. Photo B: Malian Gran Melia BE MY GUEST: Malian Minister of Foreign Affairs Modibo Sidibe (left) is escorted by Gran Melia Jakarta's Resident Manager Jeroen van Dongen (right).

Australia may by-pass RI rice barriers

Australia may by-pass RI rice barriers SYDNEY (Reuters): Indonesia's economic collapse and drought have combined to back Australian moves to by-pass longstanding blockages to Australian rice imports. After widespread rice crop failure, Indonesia is this year seen importing up to five million tonnes of rice, believed by academics to be the greatest amount since independence in 1945. Imports from Thailand and Vietnam have already begun.

RI still a promising market, says Alcatel

RI still a promising market, says Alcatel JAKARTA (JP): The French giant telecommunication company Alcatel announced yesterday that it would strengthen its presence in Indonesia as it believed the country's telecommunication market remained promising despite the crisis. "Alcatel reaffirms its strong commitment to Indonesia and will continue to strengthen its position here," Alcatel South Asia President Ron Spithill told reporters.

Sorry, no tea, just water at City Hall

Sorry, no tea, just water at City Hall JAKARTA (JP): Staff and visitors to City Hall should no longer expect to be served tea and snacks. They are likely to get plain water, if anything at all. Such office amenities have been removed, along with a host of others as the municipality begins to implement belt-tightening measures. "We have to be thrifty," Deputy Governor for Economic and Financial Affairs Harun Al Rasyid said yesterday.

Currencies firm, though wary of rupiah

Currencies firm, though wary of rupiah SINGAPORE (Reuters): Asian currencies regained their footing in slow trade yesterday, helped by the U.S. dollar's fall against the yen and relative stability in regional stock markets. But dealers and analysts expected only a brief reprieve, as worries about Indonesia and the future of its accord with the International Monetary Fund continued to dog the market.

After this what next?

After this what next? The 1,000 members of the People's Consultative Assembly (MPR) yesterday reelected President Soeharto for a seventh consecutive term. The appointment marks the culmination of an electoral process which began last May and the pinnacle of the General Session agenda. During the Session, the MPR has also accepted Soeharto's statement of accountability, which outlined the President's performance during his previous term in office, and endorsed new State Policy Guidelines.

Journalist teaches Jusuf greeting

Journalist teaches Jusuf greeting JAKARTA (JP): Jusuf Syakir, the chairman of the Moslem-based United Development Party (PPP) faction in the Assembly, received a valuable lesson in Islamic conduct yesterday from a photographer. Moslems are taught to greet their brethren with Assalamu'alaikum (peace be with you) upon meeting or parting, or before addressing a gathering. At the end of speeches they are expected to say Wassalamu'alaikum.

BI interest rate move may be prelude to CBS

BI interest rate move may be prelude to CBS JAKARTA (JP): Bank Indonesia's decision to peg domestic time deposit interest rates to its short-term promisory note (SBI) rates could be a prelude to an introduction of the controversial currency board system (CBS), an analyst said yesterday.

State companies told to buy local corn

State companies told to buy local corn JAKARTA (JP): The Ministry of Agriculture asks state agriculture companies to buy local harvested corn to stabilize prices, a senior official has said. Secretary general Sjarifudin Karama said here on Monday that the ministry issued a directive dated Feb. 27 to state-owned plantations, fisheries, and feedmillers companies to buy local corns.

Is Western press adopting a blurred focus on RI?

Is Western press adopting a blurred focus on RI? By Mulyo Sunyoto JAKARTA (Antara): The Western press is putting Indonesia under a microscope as the country endures tough economic times. In the past few weeks, major publications, including Newsweek, The Economist and Time, have continuously blended reports into their cover stories. With their liberal perspective, they have presented Indonesian news stories which can easily make their readers shiver.

ITB program for city officials

ITB program for city officials JAKARTA (JP): At least 37 city officials intend to study urban planning in a post-graduate school program offered by the Bandung Institute of Technology (ITB), an official has said. Deputy Governor for Development Affairs TB. M. Rais said Monday the four-semester course would be the first time the municipality and ITB had cooperated together in such a project. "The class will usually be held after working hours, from 5 p.m. to 9 p.m.

Philippines ups reserves

Philippines ups reserves MANILA (AFP): Eleven foreign banks have agreed to take part in a 500-million-dollar syndicated loan to the Philippines to help it rebuild its reserves, the central bank said Tuesday. The credit facility was oversubscribed by US$50 million, Central Bank of the Philippines governor Gabriel Singson said in a statement.

TV today

TV today TVRI 7:00 a.m. Morning News 7:30 Talk Show 8:00 Breaking News 8:10 Music 9:00 Live Reports: Presidential Swearing-in Ceremony 11:00 TVRI News 11:15 Music 11:40 Profile: Paket Profil Politisi 12:00 p.m.

Telkom staff donate foodstuffs

Telkom staff donate foodstuffs BANDUNG: Employees of PT Telkom, the state telecommunications company, have agreed to put aside part of their monthly salary as a donation to the poor. Telkom president A.A. Nasution said the company had collected Rp 200 million from its 37,000 staff this month. The money will be used to buy foodstuffs which will be given to the needy free of charge, Nasution said after supervising the distribution of food packages yesterday.

MPs to summon Estrada's wife

MPs to summon Estrada's wife MANILA (AFP): The wife of popular Philippine presidential candidate Joseph Estrada will be summoned by Congress as part of investigations into a million dollar investment scam, a congressman said yesterday. Congressman Victorino Chavez, head of the House of Representatives committee on banks, said he would summon Loi Ejercito to a public hearing next week. The scam was allegedly initiated by Josephine German, the wife of one of Estrada's former top aides.

Asia-Pacific stock markets end mixed

Asia-Pacific stock markets end mixed SINGAPORE (AFP): Asia-Pacific stock markets ended mixed yesterday as wary investors treaded with caution over Indonesia's standoff with the IMF amid the reappointment of President Soeharto to a seventh term. Singapore, Tokyo, Kuala Lumpur, Sydney and Seoul were among the gainers. Hong Kong, Bangkok and Manila ended in negative territory.

Conversion Rates

Conversion Rates Jakarta (JP): Bank Ekspor Impor Indonesia's (Bank Exim) indicative conversion rates on March 10, 1998: Buying Selling Rp Rp U.S dollar 1 10,250.00 13,250.00 Austrian shilling 1 680.80 978.50 Australian dollar 1 6,060.60 8,143.30 Belgian franc 1 240.40 321.80 Canadian dollar 1 6,422.00 8,581.60 Swiss franc 1 6,091.00 8,153.60 Deutschemark 1 4,943.00 6,663.00 Danish krone 1 1,300.60 1,741.80 French franc 1 1,477.90 1,981.20 Poundsterling 1 14,851.20 19,831.90 Hong Kong dollar 1...

Indonesia poses risk to neighbors: WB official

Indonesia poses risk to neighbors: WB official TOKYO (Dow Jones): The prospects for a sustained economic recovery across southeast Asia hinge on conditions in Indonesia, where recent developments have been 'mixed,' a senior World Bank official said yesterday.

A genie from John Hopkins?

A genie from John Hopkins? Who is Steve Hanke? Who brought him to Indonesia? The questions have been asked many times, but so far no satisfactory answers have been forthcoming. He in no time emerged in the economic and financial world of Indonesia, and quickly wielded a dominant role over local economic and financial experts, standing like dwarfs next to this professor of applied economics from John Hopkins University.

Soeharto's family welcomes reelection

Soeharto's family welcomes reelection JAKARTA (JP): Members of President Soeharto's family yesterday welcomed his seventh consecutive election and expressed confidence that he would lift the country out of the economic doldrums. Four of his children, a daughter-in-law and a half brother, who are all members of the People's Consultative Assembly, expressed some concern at the challenges which lay ahead.

Congratulations pour in for reelected President Soeharto

Congratulations pour in for reelected President Soeharto JAKARTA (JP): Prominent local and global figures yesterday greeted the reelection of President Soeharto for a further five- year term in office. Dili Bishop Carlos Filipe Ximenes Belo extended a warm welcome to Soeharto's reappointment by the People's Consultative Assembly. The East Timorese Catholic's leader also congratulated B.J. Habibie, who the assembly will name vice president today.

Soeharto reelected for 7th term

Soeharto reelected for 7th term JAKARTA (JP): The 1,000-seat People's Consultative Assembly reelected President Soeharto to a seventh five-year term yesterday in smooth proceedings lasting less than 30 minutes. Soeharto, who will turn 77 on June 8, will take his presidential oath at the Assembly today, the close of the 11-day congress. He will also make his inaugural address in the morning session. The new vice president, most likely B.J.

Police to question 'D&R' managing editor

Police to question 'D&R' managing editor JAKARTA (JP): National Police spokesman Brig. Gen. Da'i Bachtiar said yesterday that other executives of Detektif dan Romantika (D&R) magazine would be questioned as witnesses in connection with the publication of the weekly's controversial, latest edition. "We have not questioned any other employees of D&R except the magazine's chief editor, Margiono. Statements from other executives are required to ensure a thorough investigation of the case.

Three netted for housing immigrants

Three netted for housing immigrants MALACCA, Malaysia (AFP): Malaysian police yesterday detained three people, including an Indonesian with permanent resident status, under Malaysia's Internal Security Act (ISA) for allegedly harboring illegal Indonesian immigrants. "We are investigating their modus operandi and their connections as they have been operating for several years," said Arthur Edmonds, Malacca state police chief.

Account in dollar

Account in dollar I opened a Bank Danamon dollar account several months ago at the bank's Jl. Melawai branch, where I was assured that only 1 percent of my savings would be deducted when I closed it. I would accrue 7 percent a month in taxable interest, meaning that in several months I'd withdraw slightly more than I'd deposited. Other banks would first change my dollars into rupiah and then back into dollars, meaning I'd lose a large amount of my savings.

New cabinet to be formed soon to hasten end of economic crisis

New cabinet to be formed soon to hasten end of economic crisis JAKARTA (JP): Newly reelected President Soeharto is expected to form his new cabinet almost immediately in order to allow the country to consolidate its resources and apply effective policies to deal with the economic crisis, Assembly members said yesterday.

Stock Exchange

Stock Exchange Stock prices on the Jakarta Stock Exchange (in rupiah) on March 10, 1998: Shares Close Change Trading Volume -------------------------------------------------------------- Ades Alfindo 800 0 0 AHAP Insurance 400 0 0 Alter Abadi 500 0 59,000 Alumindo Light Metal 325 0 106,500 Alumindo Perkasa 250 0 1,000 Aneka Kimia Raya 550 -25 3,500 Aneka Tambang 1,625 25 1,101,500 Anwar Sierad 275 0 108,000 Apac Centertex Corp.

IMF to face regional pressure over conflict with Indonesia

IMF to face regional pressure over conflict with Indonesia SYDNEY (Reuters): The International Monetary Fund will come under intense pressure from countries in the region to back down from confrontation with Indonesia if social unrest worsens, political analysts said yesterday. Indonesian President Soeharto has squared off against the IMF over the terms of a US$43 billion bail-out package, raising the prospect of delays in IMF funding.

Fact on Atauro famine

Fact on Atauro famine I welcome Melody Kemp's interest, March 9, in my article on alleged starvation in Atauro, East Timor, though her accusing me of "prejudices" and "bias" is hardly necessary. Ms. Kemp alluded that I was not able to see (what she calls) the "green famine" in Atauro because I was traveling by air, thus "seducing observers into thinking that all is well".

RI to negotiate with IMF and U.S.

RI to negotiate with IMF and U.S. JAKARTA (JP): Indonesia will send a technical team to the International Monetary Fund (IMF) headquarters in Washington next week to secure the continuation of the Fund's bailout program, a senior official has said.

Government's merger plan questioned

Government's merger plan questioned JAKARTA (JP): The government's plan to merge the ministries of forestry, and agriculture will be counterproductive, a senior analyst has said. Agriculture analyst Bungaran Saragih of the Bogor Agriculture University said that if the two ministries were merged, the government would face difficulties managing the country's forestry resources and agricultural development together.

Net finds 105 foster parents

Net finds 105 foster parents BANDA ACEH, Aceh: Pendidikan Acehnet Foundation has enlisted through the Internet 105 Indonesians living overseas to join in the local foster parents program and finance the schooling of poor Aceh children, Antara said. Acehnet chairman Mawardi Hasan said that under the program, each participant donates between Rp 60,000 and Rp 75,0000 a year.

Stock prices drop while rupiah firms

Stock prices drop while rupiah firms JAKARTA (JP): Stock prices on the Jakarta Stock Exchange (JSX) dropped 1 percent yesterday on market concern over the ongoing battle between the government and the International Monetary Fund (IMF). Stockbrokers said trading activity remained moderate with foreign brokerage houses taking a "wait-and-see" attitude toward current developments.

New policy guidelines criticized

New policy guidelines criticized JAKARTA (JP): Two political observers attributed a number of alleged shortcomings in the newly endorsed State Policy Guidelines to a restrictive political system and the languor of the members of the People's Consultative Assembly. Political scientists Mahfud M.D. and Muhammad A.S. Hikam agreed that the guidelines did not reflect reality as they failed to accommodate the monetary crisis and neglected political developments.

City is sticking to its vehicle sticker plan

City is sticking to its vehicle sticker plan JAKARTA (JP): The city administration is currently drafting regulations to support its plan to introduce the use of stickers to limit the number of vehicles in busy zones during peak hours. Deputy Governor for Administrative Affairs Abdul Kahfi told reporters that a special team, set up last month, had been assigned the task of drafting the regulations and making the necessary technical preparations.

Good level-headed advice

Good level-headed advice Every time our country was hit by crisis in the past, our late (vice president) Adam Malik had an excellent piece of advice for Indonesians: "Our hearts may be boiling over, but our heads must remain cool". This piece of advice should resonate in our minds every time we read or watch foreign media reports about our current crisis.

Habibie a good candidate to assist me: Soeharto

Habibie a good candidate to assist me: Soeharto JAKARTA (JP): President Soeharto gave his formal consent yesterday to the nomination of B.J. Habibie as vice president, saying that the 61-year-old German-educated technology czar was a suitable candidate to assist him. The newly reelected President reiterated his support for Habibie to each of the five factions visiting Soeharto's residence on Jl. Cendana, Central Jakarta, yesterday.

Utut drops to fourth place

Utut drops to fourth place JAKARTA (JP): Indonesian Grandmaster Utut Adianto slipped to fourth place after recording a draw and defeat in the Grandmasters Championship in Calicut, India, yesterday. Utut drew with GM Dibyendu Barua of India and lost to International Master Abhijit Kunte, also of India. The draw with Barua was made in the 57th move of the Slavian opening after five hours and 40 minutes.

Man killed by extortionists

Man killed by extortionists TANGERANG, West Java (JP): A man was stabbed to death after refusing to yield to extortionists' demands for money after he was caught making out with his girlfriend in the town's central park. A group of hoodlums caught Kiking Kurniawan, 25, and his 20- year-old girlfriend Supriati in Taman Hutan Kota on Monday, Tangerang Police said. Residents have complained that the park, once the pride of the town, has become unsafe after a series of robberies and extortions.

Student protests continue on at least 30 campuses

Student protests continue on at least 30 campuses JAKARTA (JP): Waves of student protests calling for reforms and lower prices for basic commodities continued yesterday in at least 30 universities across the nation, with thousands of students and their lecturers jointly staging on-campus demonstrations.