Indonesian Political, Business & Finance News

Archive: 28 March 1998

46 articles found

Hero status sought for Adam Malik

Hero status sought for Adam Malik MEDAN, North Sumatra: The people and provincial government of North Sumatra will sponsor a motion to designate former vice president Adam Malik to the rank of national hero. The provincial government's assistant secretary for social affairs said a team had already been formed to campaign for the proposal, which must be made to the Ministry of Social Affairs.

'Tajin' as milk substitute

'Tajin' as milk substitute We refer to a letter that appeared in your paper on March 19, 1998, written by Ms. Ratna Ramanah from Cimahi, West Java, on using tajin as a substitute for milk. As a part of the United Nations systems most concerned with infant and young child nutrition we would like to mention that many young children in the world grow up without milk because it is either not part of their culture or they cannot afford it.

U.S. to police trade reforms upheld by IMF

U.S. to police trade reforms upheld by IMF WASHINGTON (Dow Jones): The Clinton administration has established a system to police implementation of trade reforms in Asia backed by the International Monetary Fund, Trade Representative Charlene Barshefsky says. Barshefsky's agency, along with the Commerce Department, are jointly monitoring the status of structural and systemic trade reforms that the IMF is promoting in Asia -- particularly in Indonesia and South Korea, she said.

Indonesia regrets rioting at immigrant detention camps

Indonesia regrets rioting at immigrant detention camps JAKARTA (JP): Indonesia expressed regret yesterday over the death of at least nine people, including eight Indonesian illegal immigrants, at a riot in a Malaysian detention camp, but did not blame the Malaysian government and pledged continued cooperation with them. Foreign Minister Ali Alatas said Indonesia was concerned and expressed condolences to the families of all those killed. "We shall continue to cooperate closely with Malaysia...

Thamrin beautification plan on hold due to crisis

Thamrin beautification plan on hold due to crisis JAKARTA (JP): The devastating economic crisis has forced Governor Sutiyoso to postpone indefinitely his plan to tear down fences and widen sidewalks along Jl. M.H. Thamrin, to make the street "friendlier". Sutiyoso said Thursday that building owners along the thoroughfare were so hard hit by the crisis that the administration "did not have the heart" to ask them to take part in the beautification project.

'Three good' will save the country

'Three good' will save the country JAKARTA (JP): Former Bank Indonesia director Boediono said yesterday that only "good policy, goodwill and good luck" would save the country from its worst-ever economic crisis. Former finance minister Frans Seda added that all problems could be tackled but only if the government was trusted by the people. And former Bank Indonesia governor J. Soedradjad Djiwandono said the crisis would end when efforts to strengthen the banking system bore fruit.

Government seeking to unite lawyers into one association

Government seeking to unite lawyers into one association JAKARTA (JP): Attorney General Soedjono Chanafiah Atmonegoro urged Minister of Justice Muladi yesterday to attempt to unite disparate groups of lawyers into a single unified association. "It should be the justice minister's homework to facilitate the establishment of a single association for lawyers," Soedjono told the media after meeting with President Soeharto at his Jl. Cendana residence in Central Jakarta.

Businesses back currencies for intra-ASEAN trade

Businesses back currencies for intra-ASEAN trade JAKARTA (JP): Business representatives of the Association of Southeast Asian Nations (ASEAN) came out yesterday in support of regional currencies for intra-ASEAN trade. They said this move would help reduce dependence on the U.S. dollar and the transaction cost for intra-ASEAN trade settlements.

Fires rage on Palawan

Fires rage on Palawan MANILA (AP): At least 27 forest fires are raging on Palawan Island, which is home to some of the world's rarest and most endangered animals, officials said yesterday. Estimates on the fires' size differed. Palawan provincial administrator Jun Vergo said the three biggest fires are tearing through about 1,500 hectares of forests, many of them virgin stands, in the mountains of Rizal and Quezon towns.

Public bus categories cut for better services

Public bus categories cut for better services JAKARTA (JP): The city administration will cut public bus categories from three to two to improve services, the City's Land Transportation Agency announced yesterday. The Patas bus category is to be scrapped. This bus service has often been the target of public outrage because although people pay more for a seat and good service, the buses are often overcrowded and provide a poor service.

Where to go in Jakarta:

Where to go in Jakarta: Exhibitions * Art Exhibition: The Winning Entries of The ASEAN Essay, Photo, and Poster Competitions at 10 a.m. to 4 p.m. (except Saturday and Sunday), the ASEAN Secretariat, Jl. Sisingamangaraja 70A, South Jakarta (Phone: 7262991, 7243372), until April 30. * Art Exhibition: Kopi-Susu by Mella Jaarsma and Nindityo Adipurnomo at Erasmus Huis, Jl. H.R. Rasuna Said, Kav S-3, Kuningan, South Jakarta (Phone: 5250571), 9:30 a.m. to 5 p.m., until May 2.

New approach needed for cabinet coordination

New approach needed for cabinet coordination By Aleksius Jemadu BANDUNG (JP): Political analysts have argued that one of the weaknesses of the former cabinet was an obvious lack of coordination among ministries. Conflicting statements made by ministers often led to confusion in society.

IMF hails RI's foreign debt proposal

IMF hails RI's foreign debt proposal JAKARTA (JP): The International Monetary Fund (IMF) has agreed to Indonesia's proposal to use the Mexican model to tackle the massive overseas debt owed by the country's private sector, a Fund executive said yesterday. The Mexican model could be adopted but it needed to be adjusted to Indonesia's specific conditions, IMF Asia-Pacific Director Hubert Neiss said following a meeting with Vice President B.J. Habibie yesterday.

Man killed after starting new job

Man killed after starting new job TANGERANG (JP): A man who recently switched to working as a motorcyle taxi driver after losing his job was found stabbed to death early yesterday morning in Sentul subdistrict. Dimyati, a father of two who lived in Bunar subdistrict in Balaraja, was found by local residents with several stab wounds to his back at 3 a.m., 25 kilometers away from his operation base, according to Jaro, one of Dimyati's fellow drivers.

Wiranto to hold dialog with students next week

Wiranto to hold dialog with students next week JAKARTA (JP): Minister of Defense and Security/Armed Forces Commander Gen. Wiranto is to hold a dialog with representatives of 17 universities from various cities here on April 4. Djusril Djusan, chairman of the Ikbla ARH student leaders organization, said here yesterday that an invitation had been sent to each university for two of their representatives to attend the meeting.

Amien says he has ABRI approval for his criticism

Amien says he has ABRI approval for his criticism YOGYAKARTA (JP): The Armed Forces chief of sociopolitical affairs, Lt. Gen. Susilo Bambang Yudhoyono, reportedly told government critic Amien Rais yesterday to continue voicing his criticism for the good of the nation. Yudhoyono invited Amien, chairman of the 28-million-strong Muhammadiyah Moslem organization, to a meeting at the Sheraton Mustika Hotel. Yudhoyono was accompanied by the chief of the Armed Forces Intelligence Agency, Maj. Gen.

Drought fears haunt SE Asia

Drought fears haunt SE Asia SINGAPORE (Reuters): Southeast Asian farmers are plagued by fears of continuing drought despite signs that the El Nino weather event, billed by some as the worst this century, may be drawing to a close, weather experts said yesterday.

Cancer care project opened

Cancer care project opened YOGYAKARTA: An Indonesian-Dutch health care project for cancer patients opened Tuesday at state-run Sardjito Hospital. The Health Care Project on Oncology is held in cooperation with Gadjah Mada University's School of Medicine, the Indonesia- Netherlands Forum, the Association of Indonesian Hospitals and the Netherlands' Koningen Wilhelmina Fonds or Queen Wilhelmina Fund.

Activists suing police get their day in court

Activists suing police get their day in court JAKARTA (JP): South Jakarta District Court heard lawsuits yesterday filed by 57 members of Barisan Merah Putih (the Red-and-White Front) against City Police chief Maj. Gen. Hamami Nata over their detention. The 57 plaintiffs were able to have their cases heard because their detention status had been changed from being under the police to the Jakarta Provincial Prosecutor's Office.

Contract money not 'missing'

Contract money not 'missing' JAKARTA (JP): A team led by Agus Wirahadikusumah, deputy chairman of the Badminton Association of Indonesia (PBSI), has been set up to end confusion surrounding the whereabouts of US$250,000 from a contract with Japanese sports equipment manufacturer Yonex. Agus said at the national badminton training center in Cipayung, East Jakarta, on Thursday that the money was not missing, but payments to the players had been cut. He did not elaborate on reasons for this cut.

Asian monies cold to Japan's stimulus move

Asian monies cold to Japan's stimulus move SINGAPORE (AFP): A massive economic stimulus package unveiled by Japan failed to give Asian currencies a fillip yesterday as investors remained sidelined awaiting new regional developments. Trade was lackluster, with regional units slightly firmer against the U.S. dollar from their closes Thursday.

Save Our Students

Save Our Students Student demonstrations calling for political and economic reforms on various campuses these past weeks divert attention from a graver problem in our higher education: Students are dropping out in thousands because of the economic crisis. Most cannot afford to pay the rising tuition fees, and there are those unable to their living expenses, which are also soaring.

Support governor's program!

Support governor's program! From Jayakarta I have good reason to be proud of Jakarta Governor Sutiyoso, who has made every effort to enhance the well-being of the Jakartans, especially during the current economic crisis. Nevertheless, I was startled when it was reported the governor prohibited certain parties from contributing basic commodities to the community free of charge.

Competition key to privatization

Competition key to privatization By Makmur Keliat SURABAYA (JP): Is privatization the best way to improve the performance of our much derided public sector enterprises, and, if so, how should it be implemented? These questions merit special discussion since the government recently dropped several hints it would proceed to privatize several state-owned companies and industries. Privatization, in essence, is a reduction of the state role in economy.

Holiday

Holiday In observance of the Hindu Day of Silence, The Jakarta Post will not appear tomorrow. The Post will resume publication on Monday. -- Publisher

Immigrant riot highlights Asia's plight

Immigrant riot highlights Asia's plight By Nelson Graves KUALA LUMPUR (Reuters): An uprising in a Malaysian detention camp has thrown a spotlight on the human side of Asia's financial crisis and the mounting immigration dilemma facing the region's governments. Malaysian officials said three Indonesians and one policeman were killed during a pre-dawn riot on Thursday in the Semenyih detention camp near the capital Kuala Lumpur.

Police trace cocaine to woman

Police trace cocaine to woman JAKARTA (JP): A woman has been arrested at a house in South Jakarta for possessing 780 grams of top quality cocaine sent to her by a man in Bolivia, police said yesterday. Head of the National Police general information department Col. S. Sidi said that the woman, identified as Melisawati, 20, was charged with violating Article 78 and 83 of the 1997 Law No. 22 on Narcotics. "She is accused of possessing the cocaine.

WTO ruling has no effect on Timor car, analyst says

WTO ruling has no effect on Timor car, analyst says JAKARTA (JP): The United States' legal victory in a dispute over Indonesia's national car program is basically immaterial to PT Timor Putra Nasional, the sole beneficiary of the project, an automobile analyst said yesterday. Although the World Trade Organization on Thursday ruled in favor of the U.S.

Oxfam accuses world leaders of indifference on RI

Oxfam accuses world leaders of indifference on RI WASHINGTON (AFP): The international aid agency Oxfam has warned that Indonesia, struggling with debt and drought, faces a four-fold increase in poverty this year and accused world leaders of indifference. The agency based its dire prediction on "the savage effects of the economic crisis, which has triggered rising unemployment, soaring prices and food shortages".

ID card too expensive

ID card too expensive TANGERANG (JP): Residents of Keroncong Permai have accused their village officials of charging them Rp 30,000 ($8.50) for ID cards which bear the official value of Rp 7,500. They said that the local administration has made it obligatory for the residents to replace their current ID cards with the new "national" ones, even if they are still valid. "I will not apply for the new ID card.

Bulog sells 2.5m tons of rice

Bulog sells 2.5m tons of rice JAKARTA (JP): The State Logistics Agency (Bulog) sold 2.5 million tons of rice as part of a nationwide market operation to stabilize prices during the 1997/1998 fiscal year, which ends this month. Bulog chairman Beddu Amang said yesterday that rice sold by the agency during this financial year was the most it had sold during the last 30 years. Droughts last year lead to unusually low national rice production.

Minister aware of food program flaws

Minister aware of food program flaws JAKARTA (JP): Minister of Social Services Siti Hardijanti Rukmana defended yesterday her emergency program of distributing free meals to the needy, but conceded there were flaws which needed to be ironed out. Hardiyanti, who is better known as Mbak Tutut, said the provision of 15,000 meals worth Rp 1,500 (16 U.S. cents) each to laid-off workers at cheap food stalls was still in its early stages.

Telkom's bill

Telkom's bill From Kompas On the monthly telephone bill issued by Telkom there is an additional charge of Rp 5,000, which is meant for other expenses. I have no idea what this extra cost is for. I wonder if there is any law forcing consumers to pay this additional amount. For transparency's sake, Telkom should make an announcement in advance concerning an unknown levy. I am certainly not willing to be robbed of another Rp 5,000 before they make it clear what the money is for.

A chance for Indonesia

A chance for Indonesia The markets have waited for months to see which way the cat will jump in Indonesia. Opportunities were frittered away and the situation today is now worse that it was two months ago. Still, it is not too late to reverse the country's downward spiral, if the correct policies are adopted immediately. For the first time in months, that now seems possible.

Pelita Harapan joins with foreign colleges

Pelita Harapan joins with foreign colleges TANGERANG (JP): The University of Pelita Harapan (UPH) at Lippo Karawaci here signed a memorandum of understanding yesterday with several foreign universities and industrial companies to improve its students' knowledge and skills in industrial technology.

Arifin demands immediate settlement of his case

Arifin demands immediate settlement of his case JAKARTA (JP): Oil tycoon Arifin Panigoro, currently at the center of an alleged conspiracy to disrupt national stability, demanded yesterday the immediate settlement of his case. Arifin said the police investigation into a limited discussion, held last month by the Center for Strategy and Policy Studies (PPSK) in Yogyakarta and during which he allegedly voiced subversive intentions, had adversely affected his activities and business credibility.

Conversion Rates

Conversion Rates Jakarta (JP): Bank Ekspor Impor Indonesia's (Bank Exim) indicative conversion rates on March 27, 1998: Buying Selling Rp Rp U.S dollar 1 7,800.00 9,300.00 Austrian shilling 1 589.90 759.70 Australian dollar 1 5,259.50 6,330.00 Belgian franc 1 208.30 249.70 Canadian dollar 1 5,539.90 6,631.20 Swiss franc 1 5,257.90 6,304.80 Deutschemark 1 4,282.60 5,171.50 Danish krone 1 1,127.20 1,352.30 French franc 1 1,281.10 1,538.50 Poundsterling 1 13,227.30 15,820.20 Hong Kong dollar 1...

Share prices rise a tad in JSX moderate trading

Share prices rise a tad in JSX moderate trading JAKARTA (JP): Share prices on the Jakarta Stock Exchange (JSX) rose slightly yesterday in moderate trading, with most bluechip stocks dominating the transactions.

Foreign buyers eye local properties

Foreign buyers eye local properties JAKARTA (JP): International fund managers from Europe, North America, Australia and the United Arab Emirates are lining up to buy cheap properties in crisis-hit Asian countries, including Indonesia. Bayu Utomo, associate director of Procon Indah and Agus Kustandi, manager of sales and investment for the firm of property consultants said yesterday that fund managers had so far targeted properties owned by cash-strapped companies.

New sticker system on the road in August

New sticker system on the road in August JAKARTA (JP): The city administration is planning to run trials of a traffic sticker system which has been endorsed by President Soeharto from August to November, an official announced yesterday. The new regulations will apply from 7:30 a.m. to 9:00 a.m. and from 4:30 to 6:30 p.m. throughout the period, Deputy Governor for Administrative Affairs Abdul Kahfi said. The system will replace the three-in-one traffic regulation during the trial period.

Huge losses may dog banks in next 2 years: Analysts

Huge losses may dog banks in next 2 years: Analysts JAKARTA (JP): Many of the nation's more than 200 commercial banks, beset by increasing costs of funds and bad debts, are likely to share a dubious bond in reporting great losses for 1998 and 1999, banking analysts warn. Rijanto Sastroatmodjo said at a seminar here yesterday that bad debts were already on the rise due to increasing interest rates and the prolonged economic woes.

Silversmiths going out of business

Silversmiths going out of business YOGYAKARTA: At least 120 of the 209 traditional silversmith companies in Kotagede, a town renowned for the craft, are on the verge of folding due to the skyrocketing price of silver. "In March, the price of silver has increased to Rp 2.5 million (US$294) per kilogram. This is simply too high for silversmiths," said Syamsulhadi, head of the Yogyakarta Silverware Cooperative.

Hanke set to propose new rupiah to Soeharto

Hanke set to propose new rupiah to Soeharto HONG KONG (AFP): Controversial U.S. economist Steve Hanke is to head back to Jakarta this weekend to sell the idea to Indonesian President Soeharto of creating a new rupiah on which a currency board would be based.

Stock Exchange

Stock Exchange Stock prices on the Jakarta Stock Exchange (in rupiah) on March 27, 1998: Shares Close Change Trading Volume ------------------------------------------------------------- Ades Alfindo 700 0 2,000 AHAP Insurance 500 0 0 Alter Abadi 650 25 36,000 Alumindo Light Metal 400 0 494,000 Alumindo Perkasa 400 0 0 Aneka Kimia Raya 600 -25 457,000 Aneka Tambang 1,575 -25 2,826,000 Anwar Sierad 350 0 351,000 Apac Centertex Corp.

Holbrooke less pessimistic

Holbrooke less pessimistic HONG KONG (AFP): Former U.S. State Department troubleshooter Richard Holbrooke said Friday that after talks with Asian and U.S. officials he had revised his opinion on Indonesia's prospects and is now less pessimistic. "After intensive discussions in Asia with officials, I leave encouraged that the Asians are determined to deal with their problems," said Holbrooke, now vice-president of Credit Suisse First Boston bank. He added recent telephone conversations with U.S.

E. Kalimantan forest fires leave 330 people homeless

E. Kalimantan forest fires leave 330 people homeless JAKARTA (JP): The fires raging through East Kalimantan's forests have gutted 42 houses in Loa Janan Hilir and Samarinda Seberang subdistricts near Samarinda, leaving 330 residents homeless, Antara reported yesterday. The news agency said one of the houses caught fire Thursday morning after being engulfed by burning vegetation. The blaze then spread and burned down a market place in Loa Janan Hilir. No casualties were reported.