Indonesian Political, Business & Finance News

Archive: 21 April 1998

57 articles found

Agung reveals 19th SEA Games fund raising scam

Agung reveals 19th SEA Games fund raising scam JAKARTA (JP): State Minister of Youth Affairs and Sports Agung Laksono admitted yesterday that irregularities in the sale of stickers to raise funds for the 19th Southeast Asian Games had cost organizers more than Rp 1 billion. Agung, however, refused to give details of the irregularities, but promised to follow up on the finding with all possible legal measures.

E. Timor steps up fight against dengue

E. Timor steps up fight against dengue DILI, East Timor: The provincial administration is intensifying efforts to combat the outbreak of dengue fever in 11 of the province's districts, provincial health office spokesman Triputro Nugroho said here yesterday. Dengue fever has been recorded in 11 out of the province's 13 districts since December last year, he was quoted by Antara as saying. A total of 19 people have died and 256 have been hospitalized since the outbreak struck earlier this year.

Fires destroy six houses

Fires destroy six houses JAKARTA (JP): Fires destroyed six houses in South, East and Central Jakarta on Sunday causing substantial material loses, media reports said yesterday. In Kalibata, South Jakarta, a fire gutted a building in an army housing complex. The fire started at 8:50 p.m. and was extinguished by 9:30 p.m. Three fire engines tackled the blaze. There was no word of casualties. The largest fire destroyed four dormitories in a crowded area of Cipinang subdistrict.

Bond issuance may cause crowding out

Bond issuance may cause crowding out Commercial banks need Rp 155 trillion (US$19.37 billion) of fresh funds to bail them out of runs by depositors. Economist Kwik Kian Gie discusses the impacts of the cash shortage. Question: Bank Indonesia, the central bank, has injected Rp 80 trillion in liquidity credits to 54 unhealthy commercial banks. Do you think that such financial assistance is acceptable?

Malaysian media warned about haze

Malaysian media warned about haze KUALA LUMPUR (AP): The Malaysia government has warned television stations they could be taken off the air for broadcasting negative reports on the haze, local news reports said yesterday. Information Minister Mohamed Rahmat denied that Malaysia was suffering from haze and cautioned broadcast media to use a different word to describe the smog that has enveloped parts of eastern Malaysia, shutting schools and airports.

Indonesia-India satellite

Indonesia-India satellite NEW DELHI (Reuters): Indonesia's Pasifik Satelit Nusantara said yesterday its Asia Cellular Satellite (ACeS) mobile telecommunications unit had formed a joint venture with Shyam Telecom Ltd to market the service in India. "We have formed ACeS India Ltd, a joint venture between ourselves and Shyam Telecom Ltd, and have applied to the Indian government for a license," Ashutosh Garg, ACeS' senior vice- president, told Reuters by telephone from Jakarta.

Three hurt as train rams bus

Three hurt as train rams bus JAKARTA (JP): A Mayasari Bhakti bus (left photo) was hit by an economy-class train heading for Pasar Senen station at a railway crossing on Jl. Pramuka, Central Jakarta, yesterday, leaving at least three people seriously injured. The accident involving the Purwakarta-Jakarta train and the bus plying the Kota-Pulo Gadung route occurred at about 6:30 p.m., a witness said.

Gradual reforms suggested

Gradual reforms suggested JAKARTA (JP): Leading political observers advocated yesterday careful and gradual reforms, saying that a revolution would only endanger the people and leave the country vulnerable to the emergence of a dictatorship. Ryaas Rasyid, Siswono Yudohusodo and Hermawan Sulistyo agreed in a seminar on political and economic reforms that gradual change was the safest option for a country struggling to recuperate from a crippling economic crisis and to grow into a better nation.

TGIF's serves up sauce with 'sauce'

TGIF's serves up sauce with 'sauce' JAKARTA (JP): Whiskey is more than just a drink, or so says TGI Friday's, which is dishing up its Jack Daniels menu named after the famous American liquor. Introduced last month, the special consists of an American cut of meat, like steak, ribs, salmon and fried chicken. Nothing special you think. Not true! The well-cooked meat and fish is finished with a sauce based on Kecap Manis (sweet soy sauce) and Tennessee whiskey.

Aussie dock pileup affects exports to RI

Aussie dock pileup affects exports to RI SYDNEY (Agencies): With about 10,000 containers already banked up on Australia's battle scarred docks, the biggest crunch is about to hit as the peak shipping season for rural commodity exports begins. Containerized exports of wool, cotton and meat, worth a combined annual total of about A$7.5 billion (US$4.9 billion), have so far partly avoided the logjam on Australia's docks by a combination of luck and crisis management.

Jilted husband takes own life

Jilted husband takes own life JAKARTA (JP): A 34-year-old antique seller, apparently despondent after his wife left him for another man two years ago, slashed his wrist and neck on a visit to his in-laws' home in Cengkareng, West Jakarta, on Sunday. Nur Andri Handono was found dying by his father-in-law on the bathroom of the residence. He was visiting his eight-year-old daughter, Evi, who lived with her grandparents. Andri's father, Moh.

Amien's plan to testify on rights record hailed

Amien's plan to testify on rights record hailed JAKARTA (JP): A human rights campaigner and a government official yesterday praised the willingness of Moslem leader Amien Rais to appear before a United States congressional subcommittee to defend Indonesia's human rights record.

Sociologist blames govt and elite for crisis

Sociologist blames govt and elite for crisis YOGYAKARTA (JP): An observer blamed the worsening economic crisis in Indonesia on a lack of sense of crisis within the government and elite in the country.

Soeharto values dialogs: Saadilah

Soeharto values dialogs: Saadilah JAKARTA (JP): President Soeharto values dialog as a means of exchanging views and opinions but would not necessarily hold any such intercourse with members of the public, a senior minister said. Minister/State Secretary Saadilah Mursjid said yesterday, after visiting House Speaker Harmoko, that Soeharto respected all endeavors to hold dialog with the people and believed such actions were beneficial.

Where to go in Bandung:

Where to go in Bandung: Exhibitions * Photo Exhibition: Asiatica, at Savoy Homann, Panghegar Heritage Hotel, Jl. Asia Afrika No. 112 (Phone 022 432244), 3 p.m. to 9 p.m., until May 9. * Furniture Exhibition featuring decorative interior furnitures, antique and ethnical goods by Pradipta Gallery at the Lobby Preanger Aerowisata Bandung Hotel, Jl. Asia Afrika No. 81 (Phone 022 431631), until April 30. * Art Exhibition: Room and Street by Hanura Hosea, at Galeripadi Jl. Ir. H.

Bomb hoax causes panic at bank building

Bomb hoax causes panic at bank building JAKARTA (JP): A bomb threat triggered panic at Standard Chartered Bank on Jl. Jend. Sudirman in Central Jakarta yesterday, forcing the bank's management to evacuate hundreds of its employees. After a two-and-a-half hour sweep through the building by Jakarta Police and the Gegana bomb squad, the threat was deemed to be a hoax. Central Jakarta Police chief Lt. Col.

Stock Exchange

Stock Exchange Stock prices on the Jakarta Stock Exchange (in rupiah) on April 20, 1998: Shares Close Change Trading Volume ----------------------------------------------------------- Ades Alfindo 700 0 0 AHAP Insurance 500 0 0 Alter Abadi 1,075 0 185,000 Alumindo Light Metal 425 0 20,000 Alumindo Perkasa 250 -125 2,500 Aneka Kimia Raya 550 0 5,000 Aneka Tambang 1,575 -50 1,635,500 Anwar Sierad 275 0 100,000 Apac Centertex Corp.

Rupiah firms slightly on SBI speculation

Rupiah firms slightly on SBI speculation JAKARTA (JP): The rupiah ended marginally firmer against the U.S. dollar yesterday on market speculation that Bank Indonesia would raise rates for its short-term promissory notes (SBI) this week. Currency dealers said most investors sensed a strong indication from the government that it would increase the rates as part of its efforts to drain excess liquidity from the market.

Minister Tutty wants to make women pillars of nation

Minister Tutty wants to make women pillars of nation The fourth state minister of women's affairs, Tutty Alawiyah, may be the first to come from an activist background. A preacher, rector and businesswoman, she heads the East Jakarta-based As- Syafi'iyah foundation and is on the advisory board of the influential Association of Indonesian Moslem Intellectuals.

Rates for Tax Payment

Rates for Tax Payment JAKARTA (JP): The new official conversion rates as the basis for payment of import duty, value-added tax on goods and services, sales tax on luxury goods, export tax and income tax, valid from April 20 to April 26: U.S.

Badminton body keeps mum on cash bonuses

Badminton body keeps mum on cash bonuses JAKARTA (JP): The Badminton Association of Indonesia confirmed yesterday it was not offering cash bonuses as stimuli for the country's players to retain their Thomas Cup and Uber Cup titles in Hong Kong next May. The association's secretary-general, Leo Ch. Wiranata, said that instead of asking for incentives, the shuttlers should make their preparations for the world team championships the top priority.

RI gross foreign assests grow slightly to US$16.8b

RI gross foreign assests grow slightly to US$16.8b JAKARTA (JP): The nation's gross foreign exchange reserves were US$16.8 billion as of April 15, a slight increase from $16.59 billion recorded at the end of March and $16.6 billion on March 13, Bank Indonesia said yesterday. Central bank director Achjar Iljas said that the current reserves were enough to finance non-oil and gas imports for 4.3 months.

Minister Shihab to attend Waisak

Minister Shihab to attend Waisak SEMARANG: Minister of Religious Affairs Quraish Shihab will attend the celebration of Buddha's day of enlightenment (Waisak) at the Borobudur temple, Central Java, on May 11, Antara reported yesterday. Vice chairman of the Waisak organizing committee, Sungkono, said here yesterday that at least 10,000 Buddhists from across the country were expected to attend the ceremony, which will start with a procession from Mendut temple to Borobudur.

Rattan deregulation will benefits farmers, consumers

Rattan deregulation will benefits farmers, consumers By Sylvia Gratia M. Nirang JAKARTA (JP): After a decade of government trade policy restricting rattan exports, Indonesia's rattan industry will now enjoy freer trade which should bring benefits, especially to farmers and foreign consumers.

City Council endorses traffic sticker prices

City Council endorses traffic sticker prices JAKARTA (JP): The City Council endorsed yesterday the municipality's proposal to set prices of stickers, scheduled to replace the three-in-one traffic policy, at Rp 5,000 (about 40 U.S. cents) for a one-day entry into designated traffic areas and Rp 80,000 ($10) monthly, an official said.

Just pricing urged for intravenous plasma

Just pricing urged for intravenous plasma JAKARTA (JP): The City Council appealed to hospitals and pharmaceutical companies yesterday to keep the price of intravenous plasma at an affordable level amid worries about the continuing dengue fever epidemic. Soeparmo, head of Commission E for social welfare, urged hospitals and pharmaceutical firms not to seek too much profit in time of economic crisis when most people's income was barely enough to buy basic essentials.

RI's small firms need emergency funds: PECC

RI's small firms need emergency funds: PECC SINGAPORE (Reuters): An economic think tank said yesterday it had asked the Asia Pacific Economic Cooperation (APEC) group to make emergency loans of US$3 billion to prop up thousands of small Indonesian firms on the brink of bankruptcy.

Conversion Rates

Conversion Rates Jakarta (JP): Bank Ekspor Impor Indonesia's (Bank Exim) indicative conversion rates on April 20, 1998: Buying Selling Rp Rp U.S dollar 1 7,750.00 9,250.00 Austrian shilling 1 574.00 686.30 Australian dollar 1 4,879.20 5,460.00 Belgian franc 1 202.60 225.50 Canadian dollar 1 5,307.30 5,894.70 Swiss franc 1 5,043.10 5,611.20 Deutschemark 1 4,169.00 4,671.90 Danish krone 1 1,096.40 1,220.60 French franc 1 1,246.60 1,389.20 Poundsterling 1 12,714.80 14,112.00 Hong Kong dollar 1 968.

Japan car-part imports up

Japan car-part imports up TOKYO (Reuters): Several Japanese auto-part makers plan to increase imports of car parts made by their Southeast Asian units to help boost capacity utilization at their Southeast Asian facilities. Stanley Electric Co Ltd plans to import 10 to 15 percent of the car lamps and bulbs produced at its Thai unit in the year to March 1999, a Stanley spokesman said yesterday.

World class opera house opens at Taman Mini

World class opera house opens at Taman Mini JAKARTA (JP): President Soeharto inaugurated yesterday a world-class opera house, Teater Tanah Airku, at Taman Mini Indonesia Indah in East Jakarta, as part of the park's 23rd anniversary celebrations.

Fire damage estimates reach Rp 7.5 trillion

Fire damage estimates reach Rp 7.5 trillion JAKARTA (JP): Fires raging in East Kalimantan forests have cost Rp 7.5 trillion (US$938 million) in lost timber revenues, not including the cost of damage to biodiversity, the decline in tourist visits and health costs, a local government official said yesterday.

TV today

TV today TVRI 2:00 p.m. News: Berita 14 2:45 TV Series: The Big Valley 3:05 Children's Program: Album Kenangan Anak 3:30 Village Program 4:00 Regional News 4:30 Music: Lagu Pop Daerah 5:00 English Lessons 5:30 Documentary 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 Music: Profile and Song 8:00 News: Lintasan Berita 8:05 TV Drama: Persinggahan Sesaat 8:30 Talk Show: Dialog 9:00 World News 9:35 Music: Kenangan Masa...

ABRI response on missing people awaited

ABRI response on missing people awaited JAKARTA (JP): The Commission for Missing Persons and Victims of Violence says it has yet to receive a response from Minister of Defense and Security/Armed Forces Commander Gen. Wiranto to its request for a meeting to discuss the disappearances of students and political activists. The commission's executive, Munir, said Wiranto had not responded to the letter requesting the meeting, sent last Tuesday.

RI needs govt changes to renew confidence: Econit

RI needs govt changes to renew confidence: Econit JAKARTA (JP): Indonesia needs a major change of leadership and more democracy to restore its credibility and regain public confidence, the Econit advisory group said yesterday. Econit director Rizal Ramli said a new government would create a new legitimacy and mandate and thus confidence and trust in the country would return.

TV's Debby Sahertian toys with obsessive love triangle

TV's Debby Sahertian toys with obsessive love triangle JAKARTA (JP): Comedy sitcom actress-director Debby Sahertian, is dabbling in obsessions. Her new TV drama, Cinta Diatas Segalanya (Love Above Everything), a 13-episode serial about obsessive love which she is directing, is 80 percent completed. "The story revolves around (actor) Adjie Massaid who has been obsessed with (actress) Maudy Willhemina since childhood.

ADB presents health grant

ADB presents health grant PALU, Central Sulawesi: The Asian Development Bank (ADB) has approved a Rp 3 billion (US$375,000) loan for the province's health program aimed at controlling contagious diseases, Antara reported yesterday. M. Akib Kamaluddin of the provincial health office said the ADB loan would fund his office's program to eliminate tuberculosis, acute respiratory tract infection, measles and malaria, among other illnesses.

Abacha clears hurdle for presidential polls

Abacha clears hurdle for presidential polls MAIDUGURI, Nigeria (Reuters): Nigerian military ruler Gen. Sani Abacha won a crucial party vote yesterday which means he will face no opponent in presidential elections planned for Aug. 1. The Grassroots Democratic Movement (GDM), at a ballot in the north-eastern town of Maiduguri, became the fifth of five parties to adopt Abacha when he won 1,368 votes against 408 for former police chief Mohammed Yusufu.

Asia's troubled banking sector looks to foreign money

Asia's troubled banking sector looks to foreign money By Linda Sieg TOKYO (Reuters): Asia's financial crisis has prompted more than its share of finger-pointing but some key points seem clear -- fixing the problems of the region's banks will be costly, painful and time-consuming. And while many of Asia's battered economies are counting on foreign capital to help restructure their financial sectors, the success of that strategy has yet to be proved.

16 protesters jailed for ignoring police order

16 protesters jailed for ignoring police order JAKARTA (JP): South Jakarta District Court sentenced 16 Megawati Soekarnoputri supporters to two months and ten days in jail yesterday for ignoring a police order to disperse from a street protest on Feb. 11. The judges said the defendants were found guilty of failing to disperse after police officers had ordered them to do so three times.

How SE Asian economies should be rebuilt

How SE Asian economies should be rebuilt By Mike Yeong SINGAPORE (JP): After the worst is over, the governments of Southeast Asia, especially those hardest hit by the financial crisis, will have to quickly get down to the task of restructuring their economies. At the moment it appears the top restructuring priority is the banking and financial sector. This is understandable because affected countries must first attract back the foreign funds that fled the region when the crisis broke.

Astra Agro Lestari's net profit up 44%

Astra Agro Lestari's net profit up 44% JAKARTA (JP): PT Astra Agro Lestari booked a 44 percent increase in net profit last year, reaching Rp 91 billion (US$11.37 million) from Rp 63 billion in 1996. Finance director Benny Tjoeng said over the weekend that the company, a plantation subsidiary of PT Astra International, recorded net sales of Rp 458 billion last year, an increase from Rp 342.09 billion.

Students arrested for hijacking bus and military truck

Students arrested for hijacking bus and military truck JAKARTA (JP): Police arrested 350 senior high school students in two separate locations yesterday for hijacking a military truck in Cawang, East Jakarta, and a city bus in Pasar Baru, Central Jakarta. Both sets of students said they were on their way to a massive brawl in Central Jakarta which, according to the police, never happened. The military truck was seized by 82 students from technical high school STM PGRI 8 at about 12:30 p.m.

Noisy student demos continue in many cities

Noisy student demos continue in many cities JAKARTA (JP): Thousands of students continued with their campaign for sweeping reforms by holding noisy demonstrations in a number of cities, marred in one location when several unidentified men tried to lower the national flag.

RI's Djatmiko scratches in Philippines tour event

RI's Djatmiko scratches in Philippines tour event CALAMBA, Philippines (Agencies): Indonesia's Djatmiko and Kenichi Yusuda of Japan withdrew from the fourth stage of the Marlboro Centennial Tour of the Philippines yesterday. Djatmiko abandoned the race to leave the team with only a single rider Kaswanto, who finished a low 55th yesterday. Indonesian ace rider Tonton Susanto was the first to make an early when he withdrew in Friday's second stage.

Indonesian chess association misses mark on female GM

Indonesian chess association misses mark on female GM JAKARTA (JP): Executives of the Indonesian Chess Association (Percasi) will complete their term in July on a low note, particularly because of their failure to meet a target to produce a woman grandmaster, a chess observer says. Djamil Djamal, who is also the chess body's secretary, did not blame the failure solely on the chess body yesterday, saying he found no women chess players who qualified for the most prestigious chess title.

Bandung farmers' profits dissipated by crisis

Bandung farmers' profits dissipated by crisis JAKARTA (JP): Farmers in Bandung regency say "suffering" is the most fitting word to describe their life in the wake of rising prices of chemicals, fertilizers and seedlings. Several farmers in West Java's Soreang subdistrict said recently the rising prices doubled their costs for growing vegetable crops and rice.

Sticker sale counters

Sticker sale counters The following is a list of where stickers needed by motorists intending to enter the restricted zone along Jl. Sudirman in South Jakarta and Jl. Thamrin in Central Jakarta will be on sale. A trial for the ticket system will be run between August and November. The stickers will be sold during the trial period for Rp 5,000 (67 U.S. cents) for a one-day entry or Rp 80,000 monthly. - Ministry of Transportation, Jl. Merdeka Barat - City Hall, Jl.

Experts advise healthy advertising budgets

Experts advise healthy advertising budgets JAKARTA (JP): Companies should maintain their advertising budgets or even increase them in times of crisis in order to maintain or enlarge their market shares, an international advertising expert said yesterday. Sam Hill, vice chairman and chief strategic officer of DMB&B Worldwide Inc, told an advertising seminar here that the region's economic crisis presented enormous difficulties for all sectors but that opportunities also existed.

New fashion center aims at style and substance

New fashion center aims at style and substance JAKARTA (JP): The Indotex LaSalle Documentation Center of Indonesian Fashion was inaugurated yesterday to help give local employees the expertise they need to succeed in the textile, garment and fashion industries.

SE Asian markets await Indonesia's CPO ban lift

SE Asian markets await Indonesia's CPO ban lift KUALA LUMPUR (Agencies): Southeast Asia palm oil markets are braced to see if Indonesia will lift its export ban on crude palm oil on Wednesday as scheduled, traders said. Indonesian Industry and Trade Minister Mohamad "Bob" Hasan said on Friday that he had signed a decree to revoke the ban and that it would be replaced by an export tax effective on April 22.

Crude oil exports set

Crude oil exports set SINGAPORE (Reuters): Indonesia state oil company Pertamina has allocated its monthly May crude export volumes to affiliates and term buyers, but has not given directives to producers about production cutbacks, foreign producers in Indonesia said yesterday. "We haven't received any official notification about cutting production, we're still producing at steady levels," said a source at a major producer in Indonesia.

S'pore rejects U.S. reports

S'pore rejects U.S. reports SINGAPORE (AP): Singapore's foreign minister criticized the U.S. State Department Report on human rights yesterday, saying its complaints about the city-state's judiciary and political system were "unsubstantiated and unwarranted". Foreign Minister S. Jayakumar also challenged a recent report by the U.S. Trade Representative, which said Singapore's enforcement measures were inadequate to deal with an upsurge in pirated software, video and music CDs, and CD-ROMs.

200 dancers to mark Dharma Santi

200 dancers to mark Dharma Santi DENPASAR, Bali: At least 200 dancers will take part in the Dharma Santi celebration at the Ardha Candra Taman Budaya arts center here on Sunday, Antara reported. President Soeharto will attend the event which marks the Hindu Day of Silence, or Nyepi, which this year coincides with the start of the Caka year 1920, according to organizer I Dewa Putu Tengah. The dance itself is arranged by local choreographers and is presented in the form of a drama.

Singapore details RI trade financing plan

Singapore details RI trade financing plan SINGAPORE (Reuters): Singapore Prime Minister Goh Chok Tong told parliament yesterday that Singapore's trade insurance scheme for Indonesia would be in two parts. He said the first US$3 billion under the previously announced proposal would be used to guarantee export credit for Singapore exports to Indonesia, and exports from Indonesia retained in Singapore.

Mayor mad over costly ID cards

Mayor mad over costly ID cards TANGERANG (JP): Mayor Djakaria Machmud has threatened to fire subdistrict and village chiefs who inflate the cost of ID cards. The administration has set the cost of a national ID card at Rp 7,500 (almost US$1) but in some villages the price has reportedly been inflated to Rp 30,000.

On nepotism

On nepotism Our Minister of Social Services Siti Hardijanti Rukmana has flatly denied that there was a practice of nepotism in the recruitment of the Seventh Development Cabinet, as reported in The Jakarta Post, March 18. As a matter of fact, she had been asked by her father to hold the post five years earlier but she refused the offer. However, this time, she could not resist the order, as her father wanted her to assist him in a time of economic turbulence and hardship.

Kartini's spirit

Kartini's spirit The commemoration of Kartini Day, April 21, reminds us of the great Indonesian lady Raden Adjeng Kartini, whose letters made her an important symbol for the Indonesian independence movement and for Indonesian feminists. In her letters, Kartini, who was a Javanese noblewoman, expressed concern over the plight of Indonesians under colonial rule and over the restricted roles open to Indonesian women. She also resolved to make her life a model for emancipation.