Indonesian Political, Business & Finance News

Archive: 18 April 1998

48 articles found

Sardono hosts reunion

Sardono hosts reunion JAKARTA (JP): Top comedian Wahjoe Sardono of the Warkop group is hosting a reunion today for the alumni of the University of Indonesia's School of Social and Political Sciences (FISIP-UI). "All alumni from year zero to those who have just graduated are requested to mudik (return home) to campus," read the invitation signed by Sardono, a graduate from the 1970s. At the reunion, organized by the Association of FISIP-UI Alumni, attendees can "meet old boyfriends/girlfriends...

Singapore may get reprieve from haze

Singapore may get reprieve from haze SINGAPORE (Reuters): Scattered rain and changing winds will keep Singapore free of smog from forest fires raging on Borneo island for the next two weeks, a senior meteorologist said yesterday. "There have been shifts in the wind directions to south- easterly and Singapore, being on the edge of it, can expect better weather as a result," Sim Choon Siong of the Meteorological Service of Singapore told a media conference.

C. Sulawesi animals under protection

C. Sulawesi animals under protection PALU, Central Sulawesi: Central Sulawesi's Natural Resources Conservation Center (BKSDA) intends to intensify efforts in trying to protect 19 animal species in the area from becoming endangered. The numbers of many of the 19 species have been dwindling, like the dwarf buffalo, the center's chief, Edy Purwanto, said yesterday.

CPO availability

CPO availability I am writing in response to The Jakarta Post's April 13 article on a plan to lift the CPO export ban from April 22. Crude palm oil (CPO) is one of the crucial basic commodities after rice, merely due to the fact that CPO-based cooking oils play a prominent role in Indonesian cuisine, including for frying tofu and tempeh. Without oil tofu and tempeh are tasteless to Indonesians. So, if CPO prices are increased, the people will suffer.

School exams free of charge

School exams free of charge JAKARTA (JP): State elementary school principals have assured parents across the city that they do not have to pay anything for the national exams scheduled for May 12 through May 27. They gave their assurances Thursday in response to news that many parents were concerned about having to pay for the exams even though the city government had assured otherwise.

New boxing chief wants to make peace

New boxing chief wants to make peace JAKARTA (JP): Sang Nyoman Suwisma officially began his four- year term as chief of the Indonesian Amateur Boxing Association (Pertina) yesterday with his sights set on an unprecedented reconciliation with the professional boxing body.

Unique repair shop will fix your broken shock absorbers

Unique repair shop will fix your broken shock absorbers By Zatni Arbi JAKARTA (JP): Does your car rock wildly on rough roads? Or does it tilt crazily each time you make a quick turn? If it does, maybe it's time to replace the shock absorbers. The potholes and the bumps in our roads are merciless when it comes to punishing you and your cars.

Money can't buy specialists

Money can't buy specialists PALANGKA RAYA, Central Kalimantan: Medical specialists wishing to practice in remote areas in Central Kalimantan are so few that even a Rp 1 million incentive cannot lure them here. The head of the provincial health office, Tukik B. Toemon, said here yesterday that few had responded to the offer of a Rp 1 million incentive to open up practice in areas like the Kapuas, North and South Barito regencies.

Stock Exchange

Stock Exchange Stock prices on the Jakarta Stock Exchange (in rupiah) on April 17, 1998: Shares Close Change Trading Volume ------------------------------------------------------------- Ades Alfindo 700 50 53,000 AHAP Insurance 500 0 0 Alter Abadi 1,075 75 30,500 Alumindo Light Metal 425 0 60,000 Alumindo Perkasa 375 0 0 Aneka Kimia Raya 550 -25 105,000 Aneka Tambang 1,625 -25 1,715,000 Anwar Sierad 275 0 27,000 Apac Centertex Corp.

Purging of corruption

Purging of corruption From Republika Collusion and corruption are becoming increasingly rife in our business practices and penetrating all walks of life. We feel their presence in all sectors of development: banking, export and import, trade and services at all levels. Their infiltration into the bureaucracy network is also widespread. They are like an epidemic. It is hard to find their roots.

22-year-old man mistakenly killed

22-year-old man mistakenly killed JAKARTA (JP): A 22-year-old man who was erroneously accused of stealing a motorcycle was mobbed to death at Bumi Serpong Damai housing complex in Tangerang on Thursday night. The victim was identified as Yono, a construction worker in the complex. Rustadi said yesterday that his brother Yono, who was relaxing with two of his friends in his workplace, was asked by somebody to help push his motorcycle.

Jobless say no to transmigration

Jobless say no to transmigration TANGERANG (JP): Many dismissed workers have refused the government's offer of resettlement in Sumatra or Kalimantan because they fear forest fires in either area would destroy their hopes for a better future. They said they had heard from friends who had been resettled in the two areas under the state-sponsored transmigration program, that fires had affected their cash crops and their health.

Minister wants national fight against dengue

Minister wants national fight against dengue JAKARTA (JP): Minister of Health Farid Anfasa Moeloek urged the country's 27 provincial governors yesterday to step up efforts to fight an extraordinary outbreak of dengue fever, which has claimed 207 lives and left 7,585 hospitalized in the past few months. The minister said use of mass fumigations was a short-term solution to preventing the spread of the mosquito-borne disease, and the best method was by eliminating the sites where the insects bred.

Shoppers' paradise

Shoppers' paradise My wife and I are visiting Indonesia for the second time and are once again delighted with your country. This time, due to the current exchange rate, the things we wish to buy are very inexpensive. I would like to suggest that you do everything you can to tell the world that this beautiful country is not only a fascinating place for a tourist to visit but is also a shopper's paradise. ROBERT W. LEACH Pennsylvania, U.S.

Amien Rais backs NU call for reform

Amien Rais backs NU call for reform YOGYAKARTA (JP): Moslem leader Amien Rais backed yesterday the recent call of Nahdlatul Ulama (NU), the country's largest Moslem organization, for the Armed Forces to support the people's and students' demands for reform. "The NU stance was a clear signal," he said here yesterday.

PT Astra Otoparts to sell 75m shares to the public

PT Astra Otoparts to sell 75m shares to the public JAKARTA (JP): PT Astra Otoparts, a unit of PT Astra International, plans to offer 75 million shares or 10 percent of the company's total enlarged capital to the public next month despite the gloomy outlook for the country's capital market.

RI and creditors set resolution framework

RI and creditors set resolution framework NEW YORK (Agencies): Creditor banks and Indonesia agreed Thursday on a broad set of principles to provide a framework for bilateral negotiation on the country's private external debts.

Rupiah slips again, SBI rates unchanged

Rupiah slips again, SBI rates unchanged JAKARTA (JP): The rupiah slumped for the fourth consecutive day yesterday in response to Bank Indonesia's announcement that short-term promissory note (SBI) rates would remain at their current level, currency dealers said. They said that offshore operators, who were long in rupiah earlier this week in the hope that the central bank would raise its SBI rates from 45 percent to 60 percent, resold their rupiah after the announcement.

China's decision on yuan praised

China's decision on yuan praised KUALA LUMPUR (Agencies): Senior officials from Southeast Asia and China gathered here yesterday for a two-day meeting to discuss the region's thorny economic problems. Rodolfo Severino, the newly appointed secretary-general of the Association of Southeast Asian Nations (ASEAN), indicated that the region's economic well-being hinges on China's decision to stabilize its currency, the yuan, or renminbi.

Ailing Tonton out of RP cycling Tour

Ailing Tonton out of RP cycling Tour CEBU CITY, The Philippines (Agencies): Indonesian ace cyclist Tonton Susanto withdrew in the Marlboro Centennial Tour of the Philippines yesterday, handing a big blow to his team's title hopes in the race. Tonton, who finished fifth overall last year, had apparently failed to recover after fighting heatstroke in Thursday's opening stage in which he came 11th. He quit on the verge of collapsing yesterday, 19 kilometers into the race.

Lonsum appoints HSBC

Lonsum appoints HSBC JAKARTA (JP): Publicly listed plantation company PT PP London Sumatra (Lonsum) announced yesterday that it had appointed HSBC Investment Bank Plc. as coordinator of its debt restructuring with external creditors. The company said that it would continue to hold separate negotiations with its counter-party banks on forward transactions entered into in the middle of last year. Repayment of these contracts had been deferred during the mediation process.

ABRI may hold dialog with students today

ABRI may hold dialog with students today JAKARTA (JP): The Armed Forces (ABRI) chief and 18 cabinet ministers will finally sit together with intellectuals, students and university rectors today to seek solutions to the economic crisis following weeks of controversy over ABRI's plan to hold dialogs with groups critical of the government. Most of those invited from 30 universities have confirmed they will attend the discussion, said ABRI spokesman Brig. Gen. A. Wahab Mokodongan yesterday.

Bonto-Adhikarya to build railway line

Bonto-Adhikarya to build railway line JAKARTA (JP): Local contractor PT Bonto Buleang Utama signed a cooperation agreement yesterday with state-owned construction company PT Adhikarya to build a US$300-million railway to transport coal in East and South Kalimantan. The construction is scheduled to start in August this year and take two years to complete, Bonto president Andy Z. Ansar Sufajar told reporters.

Will foreign universities be beneficial for us?

Will foreign universities be beneficial for us? By Mochtar Buchori JAKARTA (JP): Will the presence of foreign universities in Indonesia stimulate or obstruct the growth of our own universities, especially the private ones? Many reporters have asked me this question. My reply has been that it depends on how we are going to react to these foreign universities. If we react in the right way, I think we will be able to benefit from their presence.

Bank Indonesia soaks up Rp 29t from circulation

Bank Indonesia soaks up Rp 29t from circulation JAKARTA (JP): Bank Indonesia (BI) has issued Rp 29 trillion (US$3.6 billion) in promissory notes (SBIs) to investors as of yesterday following the central bank's March 23 increase in benchmark interest rates. Some Rp 6 trillion of the total is in the hands of foreign investors, with the remainder being held by domestic banks and pension funds, Muhammad Rovky, BI's money market deputy director, said yesterday.

RI wall climbers hope for top tenth spot at Asiad

RI wall climbers hope for top tenth spot at Asiad JAKARTA (JP): Five Indonesian wall climbers will fly for Thailand today for the 1998 Asian X Games qualifier to be held from April 22 to April 26 in Phuket. Bondan Kartika, Ronald Mamarimbing, Nur Rosyid, Binsar Nainggolan and Etha Hendrawati, the only woman on the team, will compete in both the difficulty and speed categories. The Phuket games will be Etha's third international trip.

Unauthorized firms blamed for illegal workers

Unauthorized firms blamed for illegal workers JAKARTA (JP): The Association of Labor Export Companies urged the government yesterday to take stern action against unauthorized labor exporters whom they blame for the problems currently arising with illegal migrant workers.

Another crisis: Dengue fever

Another crisis: Dengue fever Dengue fever is no stranger to Indonesia, but this year's outbreak is said to be one of the most serious in recent history. At least 12 provinces are currently being affected by this killer disease. The latest government data reports that 207 people, out of 7,585 hospitalized with the disease, have died. The figures far exceed last year's totals of 10 fatalities and 2,323 hospitalized.

Rp 5 trillion in timber revenue up in flames

Rp 5 trillion in timber revenue up in flames JAKARTA (JP): The country has lost over Rp 5 trillion (US$625 million) in timber revenues due to fires which have ravaged more than 283,000 hectares of forest in East Kalimantan.

High-rise building owners still strong

High-rise building owners still strong JAKARTA (JP): Foreign investors are seeking cheap office buildings in the capital but owners are in no hurry to surrender their properties, property consultantcy First Pacific Davies Indonesia said. The company said in its weekly report yesterday that some high-rise building owners did not yet view the crisis as fatal.

Conversion Rates

Conversion Rates JAKARTA (JP): Bank Ekspor Impor Indonesia's (Bank Exim) indicative conversion rates on April 17, 1998: Buying Selling Rp Rp U.S.

Healthscope to help RI

Healthscope to help RI MELBOURNE (Reuters): Hospitals group Healthscope Ltd. said yesterday it had agreed with Indonesian health insurer PT Askes for patients to be sent from Indonesia to Darwin for treatment. Patients would be treated at Healthscope's 150-bed private hospital in the northern Australian city of Darwin, it said.

Police arrest student for alleged drug deal

Police arrest student for alleged drug deal JAKARTA (JP): Police have arrested a tourist academy student for allegedly consuming and trafficking Ecstasy and the amphetamine-derivative shabu-shabu, an officer said yesterday. The suspect, identified as Jimmy Tjung Sendjaja, 28, was caught at Hotel Permata on Jl. Suhardjo Wiryopranoto, Central Jakarta, on Wednesday after being under surveillance for about three months, the officer who asked for anonymity said.

Housewives join protests over food prices, reforms

Housewives join protests over food prices, reforms JAKARTA (JP): Huge numbers of students in many cities were kept up their fervent protests for lower prices and sweeping reforms yesterday with housewives in one city helping to boost the rallies.

A solution for foreign lawyers

A solution for foreign lawyers By T. Mulya Lubis JAKARTA (JP): A number of Indonesian legal experts have lodged strong protests against foreign lawyers working in Indonesia. They maintain some foreign lawyers have been practicing in Indonesia without permits from the Ministry of Justice. The authorities are now looking into the matter. However, it is not clear yet whether they have been working as management or investment consultants.

Soeharto gives students new reminder

Soeharto gives students new reminder JAKARTA (JP): President Soeharto has again urged students to return to their studies, reminding them that university campuses were built for learning not staging nonacademic activities. The President noted that if the current succession of student demonstrations and rallies continued it would disrupt the teaching process. "The president remarked that campuses were built as learning institutions to prepare leaders of the future," Maj. Gen.

Tangerang firms owe Jamsostek Rp 5 billion

Tangerang firms owe Jamsostek Rp 5 billion TANGERANG (JP): Firms have postponed or failed to pay Rp 5 billion (US$606,606) in workers' insurance per month since January to the Tangerang branch of the state-owned social security company PT Jamsostek, an official said yesterday. The mass layoff of workers has also had an impact on the amount of monthly fees Jamsostek collects from firms as nearly 10,000 people are no longer on the payroll.

Panasia to hold exhibition games

Panasia to hold exhibition games JAKARTA (JP): Indonesian champion Panasia Indosyntec will organize a basketball exhibition event at the Pajajaran Sports Hall in Bandung today to proceed its departure to the 9th Asian Interclub Championship in Kuala Lumpur. The club's president, Khoe Hoa Ie, said Thursday that today's event would include a game pitting Panasia junior and Bandung city teams, slam-dunk and three-pointer contests and cheerleader performances.

Where to go in Jakarta:

Where to go in Jakarta: Exhibitions * Photo Exhibition: Potret by Benno Harun and Artli Ali at Plaza Indonesia Atrium, Jl. M.H. Thamrin kav. 28-30, Central Jakarta (Phone: 322908), 10 a.m. to 8 p.m., until May 15. * Graphics Exhibition: Grafitasi by Kelompok Grafis Balekambang, in the Exhibition Hall of Jakarta Arts Institute, until April 25. Further information call 8094711. * Painting Exhibition: Adi Munardi After Paris! by Adi Munardi at Galeri TC, Jl. Kemang Raya No.

Aiwa exports RI products

Aiwa exports RI products SINGAPORE (Reuters): Japanese audio equipment maker Aiwa Co Ltd. said yesterday it plans to export almost all the production from its PT Aiwa Dharmala joint venture in Indonesia. Aiwa chairman Kenji Tamiya told a news conference the company had initially targetted both the Indonesian market and exports, but said the country's economic crisis now meant there was little scope in the domestic market.

Identifying ailing banks

Identifying ailing banks The Indonesian Bank Restructuring Agency (IBRA), which functions as a sort of hospital for ailing banks, must be able to cure its patients of the various afflictions they are currently suffering. IBRA's task of having to detect at an early stage anything improper about any of the banks operating in this country is certainly not an easy one. And that is not the only challenge it is facing.

Telkom's 1997 profit slides on forex losses

Telkom's 1997 profit slides on forex losses JAKARTA (JP): State-owned telecommunications company PT Telekomunikasi Indonesia said yesterday the monetary crisis had dragged down its net profits by 23.4 percent last year to Rp 1.5 trillion (US$187.5 million). Company president Asman Akhir Nasution attributed the decline to significant foreign exchange losses, totaling Rp 424.4 billion, resulting from the rupiah's sharp drop on the dollar since the economic turmoil began.

Commercialization of fumigation angers governor

Commercialization of fumigation angers governor JAKARTA (JP): Governor Sutiyoso was infuriated yesterday over reports that city-sponsored mosquito fumigation had been commercialized in some districts, jeopardizing the entire program. The governor said fumigation was free and he threatened to take punitive action against health officials and workers from private firms who asked for money.

Kartini power

Kartini power Forget "People Power" in the Philippines! Even forget "Student Power" in Indonesia, if such a thing exists! But please do not forget "Kartini Power" especially in the month of April when the nation commemorates Kartini Day, on April 21. The celebration is compulsory for women and girls who usually dress up in kebaya (Javanese traditional blouse) and kain batik (batik sarong) on that day.

Official bemoans teachers' skills

Official bemoans teachers' skills KUPANG, East Nusa Tenggara: The head of the provincial education and culture office, J. Cornelius Mbeo, said here yesterday that 89.3 percent of the elementary school teachers in East Nusa Tenggara are unfit to teach as they lack the necessary academic qualifications. According to Mbeo, out of the 27,648 elementary teachers teaching in 1,892 villages or subdistricts, only 2,941 have the required qualifications.

Navy, Air Force chiefs get Kopassus honor

Navy, Air Force chiefs get Kopassus honor BANDUNG, West Java (JP): The Army's Special Force (Kopassus) conferred its honorary command badge on Navy Chief Admiral Arief Kusharyadi and Air Force Chief Marshall Sutria Tubagus yesterday for their service in forging cooperation with the red berets. The awards ceremony, presided by Army Chief Gen. Subagyo Hadisiswoyo, was held at Kopassus Group 3 headquarters in Batujajar, near here.

Sumitomo delays RI project

Sumitomo delays RI project TOKYO (Reuters): The launch of a 120 billion yen petrochemical plant in West Java, Indonesia, has been pushed back one year to 2001, a Japanese member of the international consortium in charge of the project said yesterday. A Sumitomo Corp. spokesman said the petrochemical complex will be delayed because of difficulties in raising financing in Indonesia, whose economy is in crisis.

TV today

TV today TVRI 2:00 p.m. News: Berita 14 2:30 Music 2:35 Children's Film: Home From Far 3:05 Performance: Duniaku by Sanggar Kartika Puri 3:30 Science Film 4:00 Regional News 4:30 Sports 5:30 TV Series: Big Brother Jake 6:00 News: Lintasan Berita 6:05 My Country: Rona Nusantara 6:15 Sports 6:30 TVRI News (in English) 7:00 Evening News 7:35 Saturday Night Music 8:00 News: Lintasan Berita 8:05 Saturday Night Music (contd.) 8:30 Variety Show: Majalah Udara 9:00 World News 9:30 Quiz: Siapa Dia 10:30...