Indonesian Political, Business & Finance News

Archive: 25 April 1998

54 articles found

Contract workers increase

Contract workers increase SEMARANG: The number of people going abroad to work from Central Java has steadily increased over the past several months, Antara reported yesterday. Head of the provincial manpower office, Andi Usman, said 2,843 Central Javanese had left Indonesia over the period between last December and February to try their luck in other countries.

Jakarta's reforms ease worst fears

Jakarta's reforms ease worst fears HONG KONG (Dow Jones): Indonesia has put to rest the markets' worst fears by announcing this week that it has complied with the first major set of reforms under the International Monetary Fund's $43 billion restructuring program. But it will still be a while before there's room for Asian currencies and share prices to move significantly higher, economists said.

UNCHR statement good deal for RI

UNCHR statement good deal for RI By Dino Patti Djalal GENEVA (JP): The big question faced by Indonesia in the 54th session of the UN Commission on Human Rights (UNCHR) was finally answered Thursday when the commission produced a chairman's statement on East Timor. But laymen in the wider public will ask the same question my mother asked me over the phone. What does this mean exactly? Is this good news or bad news? A chairman's statement is indeed good news.

New firm 'controls' clove supply

New firm 'controls' clove supply JAKARTA (JP): The nation's cigarette manufacturers are still under an unofficial obligation to buy their cloves from one supplier, PT Kembang Cengkeh Nasional (KCN), the chairman of the Association of Indonesian Cigarette Companies said yesterday.

Timah rakes in windfall profit from rupiah's fall

Timah rakes in windfall profit from rupiah's fall JAKARTA (JP): Publicly listed tin mining company PT Timah booked a profit of Rp 125.7 billion (US$15.7 million) in the first quarter of this year, up 375 percent from Rp 26.5 billion in the same period last year despite a fall in sales. "The windfall profit was mainly caused by the dollar's sharp appreciation against the rupiah," company president Erry Riyana Hardjapamekas told reporters after the company's shareholders meeting.

Liberian tried for his role in heroin trafficking

Liberian tried for his role in heroin trafficking JAKARTA (JP): A Liberian citizen was indicted at Central Jakarta District Court yesterday on charges of being involved in an 850-gram heroin deal. Prosecutor Toto Sucasto said the defendant, Jones Brown, 23, and his two Nigerian accomplices, Melvin Chiguzie Nwizu Attueyi and Laor Treekem, were arrested Nov. 6 last year at Permata Harmoni Hotel on Jl. Tanah Abang.

Seachem clarifies

Seachem clarifies We refer to your article of April 3 titled 'CPO smuggling rife again: Hasan'. As operators of the vessel Courageventure, a ship with a similar name to the vessel mentioned in your above article, we wish to make clear on behalf of our company, the owners of the vessel and one of the charterers on the vessel Messrs Wilmar Trading PTE Ltd the following: 1.

Doctors told to improve dengue treatment

Doctors told to improve dengue treatment JAKARTA (JP): Respected medical experts have said that doctors who hastily recommend blood transfusions for dengue patients are "inexperienced". In a media briefing held by the Indonesian Hematology and Blood Transfusion Association yesterday, the experts also called the widespread practice "misguided". They said that only patients suffering from internal bleeding needed a blood transfusion.

Fajar to restructure debts

Fajar to restructure debts HONG KONG (Dow Jones): Indonesia's Fajar Surya Wisesa said yesterday it will seek to restructure its outstanding debts, totaling at least US$265 million, and ask creditors to accept a moratorium on principal and interest payments until the restructuring is complete. The maker of industrial paper products said its financial position had been negatively effected by the sharp decline in the value of the Indonesian rupiah against the U.S.

Postpone sticker plan until crisis end: Golkar

Postpone sticker plan until crisis end: Golkar JAKARTA (JP): The Golkar faction in the House of Representatives added yesterday to mounting pressure on the city administration to shelve plans to introduce a traffic sticker system. Meanwhile, the Jakarta Legal Aid Institute (LBH) demanded that President Soeharto rescind the decree he issued earlier this month which endorsed the controversial plan.

Malaysia palm oil may outdo oil and gas

Malaysia palm oil may outdo oil and gas KUALA LUMPUR (Reuters): Malaysia, the world's largest palm oil exporter, expects record earnings from the commodity this year, possibly surpassing even crude oil and gas, its top money spinners. Driven by rising global demand for edible oils and strong prices due to a weak currency, palm oil contributed 12.8 billion ringgit (US$3.4 billion) in export earnings in 1997, Primary Industries Minister Lim Keng Yaik said at a news conference.

Two state firms to be turned into trading house

Two state firms to be turned into trading house JAKARTA (JP): The government plans to convert two of its state-owned trading companies into a trading house to facilitate the country's exports, a minister said yesterday. Minister of Trade and Industry Mohamad "Bob" Hasan said business associations would be allowed to buy shares of the trading house so they could become owners of the facility as well as members. He said the trading house would operate as a joint marketing body for its members.

Bank Exim's rating adjusted

Bank Exim's rating adjusted JAKARTA (JP): International rating agency Standard & Poor's revised local-currency rating of state Bank Ekspor-Impor Indonesia (Bank Exim) to "CCCpi" from "NM" following the bank's release from the supervision of the Indonesian Bank Restructuring Agency (IBRA). The agency said the "CCCpi" rating reflected concerns about the potential impact on Bank Exim's asset quality from a rise in borrower defaults following a serious deterioration in the economy.

Fifteen years of service

Fifteen years of service The Jakarta Post is 15 years old today. Normally, the fifteenth anniversary in a newspaper's life would be cause for a special celebration. But these are not ordinary times. The economic crisis, which has been hitting us for the past several months, has forced us to scale down all of our activities. Shrinking advertising revenues and the soaring price of newsprint have given us no choice but to implement austerity measures.

Four fetuses dumped in North Jakarta

Four fetuses dumped in North Jakarta JAKARTA (JP): Four fetuses were found in plastic bags under a flyover on Jl. Warakas, Tanjung Priok, in North Jakarta yesterday afternoon. Witnesses said that a 15-year-old student, identified as Heri, made the discovery only 200 meters away from where 11 aborted fetuses and dead babies were found last year. The bags are believed to have been dumped by people driving in a Kijang van.

Violence mars student demonstration in Medan

Violence mars student demonstration in Medan JAKARTA (JP): Students in Medan threw Molotov cocktails at security personnel who responded with volleys of tear gas and rubber bullets yesterday as more than 20,000 protesters throughout the country continued their demonstrations for reforms. In Bandung, the capital of West Java, however, tension dissipated when both student protesters and security personnel took a break to watch a concert by controversial musician Harry Roesli.

RI revamps judiciary and bankruptcy laws

RI revamps judiciary and bankruptcy laws NEW YORK (Dow Jones): As many international creditors will tell you, Indonesia's legal system is long overdue for a revamp. The country's bankruptcy laws and the judicial infrastructure for enforcing them are outdated, unreliable and virtually unworkable, critics say. That's why an international effort has been mustered for an overhaul of the system, to prepare it for what may well be a rash of bankruptcy cases.

Govt increases minimum legal work age to 15 years

Govt increases minimum legal work age to 15 years JAKARTA (JP): The government has revised the legal work age to 15 years and above, from 10 years previously, in a bid to reduce child labor and keep more young people in school. The decision was announced yesterday at the end of the working meeting of ministers under the Coordinating Minister for People's Welfare Haryono Suyono.

Police opt to cancel Red Cross sticker sales at offices

Police opt to cancel Red Cross sticker sales at offices JAKARTA (JP): City Police decided yesterday to cancel sales of Indonesian Red Cross (PMI) stickers imposed for several police services because there was no official instruction governing the measure, an officer said. City Police spokesman Lt. Col. E.

Paradise lost refound?

Paradise lost refound? I am writing in response to the letter 'Paradise lost?' by Mr. Roland Woehrle of April 14. After reading of your recent experiences we share your feelings of disappointment and frustration. It would be our pleasure for you and your wife to give our hotel a try instead when next you visit Lombok, West Nusa Tenggara. Please feel free to contact me directly. HELEN JACOBE General Manager Holiday Inn Resort Lombok

More minivans rev up protests

More minivans rev up protests JAKARTA (JP): The West Jakarta administration's policy to allow five more public transport minivans B-06 to ply the Kamal- Kota route has met with angry protests from owners of those already in service. Van owners and their employees grouped in Wahana Kalpika Cooperative fear that the additional vans, which first hit the road on April 2, will delete their income.

Hospitals and the dengue outbreak

Hospitals and the dengue outbreak As Dr. Ali Imran Umar revealed recently, Jakarta office of the Ministry of Health survey findings show the greatest numbers of Aedes aegypti mosquitoes (carriers of the dengue fever virus) are found in hospitals. Whatever the reason may be, this situation is surely most undesirable. In these circumstances, it is difficult to blame people for assuming there must be something wrong with our hospitals. Of course, not all our hospitals are dirty.

Traders angry over latest RI CPO twist

Traders angry over latest RI CPO twist LONDON (Reuters): Crude palm oil drifted lower at the opening of the European vegetable oil market yesterday but participation was thin ahead of this evenings trade dinner in Rotterdam. Traders expressed anger at the latest twist in the Indonesian palm oil export ban saga.

Government wages war against dengue fever

Government wages war against dengue fever JAKARTA (JP): President Soeharto expressed deep concern yesterday over the dengue fever outbreak that has affected thousands and killed at least 429 people across the country over the past months. Minister of Health Farid Anfasa Moeloek said the President had requested that the 3M movement to eradicate the mosquito-borne disease be stepped up.

Toothache delays governor choice

Toothache delays governor choice JAKARTA (JP): The selection of East Kalimantan's gubernatorial candidates was delayed Wednesday because the speaker of the provincial legislative council, Harsono, had a toothache, a media report said yesterday. The reason for the postponement of the top five-yearly political event irked both the public and the council politicians, who will present the candidates to the minister of home affairs for endorsement.

Stock Exchange

Stock Exchange Stock prices on the Jakarta Stock Exchange (in rupiah) on April 24, 1998: Shares Close Change Trading Volume -------------------------------------------------------------- Ades Alfindo 650 0 0 AHAP Insurance 500 0 0 Alter Abadi 1,000 0 6,500 Alumindo Light Metal 400 0 43,500 Alumindo Perkasa 300 0 0 Aneka Kimia Raya 500 0 32,500 Aneka Tambang 1,625 25 4,641,500 Anwar Sierad 250 0 16,000 Apac Centertex Corp.

Cooking oil producers assured of CPO supply

Cooking oil producers assured of CPO supply JAKARTA (JP): Minister of Forestry and Plantations Sumahadi gave assurances yesterday that the country's three state cooking oil producers would continue to receive a supply of crude palm oil (CPO) from state plantation companies. Sumahadi said that state plantation companies PT Perkebunan Nusantara (PTPN) I through to XIV would continue to provide 39,200 tons of CPO each month to the cooking oil producers.

Police asked to probe Games sticker scam

Police asked to probe Games sticker scam JAKARTA (JP): State Minister of Youth Affairs and Sports Agung Laksono has asked the police to investigate an alleged scam in the sale of stickers to fund the 19th Southeast Asian Games here last year. Agung said yesterday that he would officially hand over the case to the city police on Monday.

Yuyun finished fifth at Asian X Games

Yuyun finished fifth at Asian X Games PHUKET, Thailand (JP): Indonesia's Yuyun Yuniarti failed to impress in the wall climbing difficulty event final at the Asian X Games Qualifier here yesterday. Yuyun, a late recruit to the Indonesian team for the radical sports competition, had to settle for fifth place with South Korean Huang Bai-li after failing to scale the 18-meter wall. A dejected Yuyun gave no excuses but blamed herself for the loss.

Bekasi to get more open schools

Bekasi to get more open schools BEKASI (JP): The local administration plans to establish another open junior high school because existing regular schools are not enough, an official has said. Bekasi already has an open junior high school, with its headquarters in Sukatani district, with 2,072 students enrolled. Chief of the Bekasi education and culture office Agus Maryono said here Thursday that the new school will open in the upcoming academic year that starts in July.

SEI aids fight against fires

SEI aids fight against fires JAKARTA (JP): SEI Industries Ltd. of Canada donated a package of fire-fighting equipment to the Ministry of Forestry and Plantations on Thursday to help the ministry in its efforts to extinguish the forest fires in East Kalimantan. The package, comprising a set of fire-fighting buckets and supporting equipment, was handed over by SEI's sole agent in Indonesia, PT Vithras Sakti Utama, to the Director General of Forest Protection and Nature Preservation Soemarsono.

Landslide kills three in Dili

Landslide kills three in Dili DILI, East Timor: Three people were killed and two injured when a landslide, brought on by hours of heavy rain, buried two houses Thursday night in West Lahane village, West Dili district. Julio Saldanha, 18, Marcos de Jesus, 14, and Irene de Jesus, 8, were killed in their beds while sleeping. Ana Vilanova, who was in the same house, survived the incident. The two injured were Justino Lemos and Esperance Lemos, a married couple living in the house next door.

Sleepy Asian currencies hold up with Japan's yen

Sleepy Asian currencies hold up with Japan's yen SINGAPORE (Reuters): Asian currencies held up in listless trade yesterday as the yen's resilience provided the only point of interest in a market largely starved of fresh leads. Dealers said most regional units continued to benefit from the strong yen but their failure to rise further in the face of demand for cheap dollars cast doubt on the sustainability of recent gains.

Expelled diplomat faces probe at home

Expelled diplomat faces probe at home JAKARTA (JP): An Indonesian diplomat who was expelled by the Tanzanian government for alleged illegal possession of game trophies this week will face an investigation from the authorities on his return, the Ministry of Foreign Affairs said yesterday. The ministry regretted the violation of the law committed by the diplomat that led to him being made persona non grata by the host country.

Credit-card scam at Lippo Bank branch

Credit-card scam at Lippo Bank branch JAKARTA (JP): The Menteng, Central Jakarta, branch of Lippo Bank has suffered about Rp 300 million in losses in a credit-card scam, police said yesterday. Addresses and other documents of 50 credit card holders, who have been delinquent in payment since last year, turned out to be fake, an officer who asked for anonymity said. Police have determined all the holders shared a common reference on their applications for the bank's credit cards.

TV today

TV today TVRI 2:00 p.m. News: Berita 14 2:30 Music 2:35 Children's Film: Red Shoes 3:05 Children's Drama: Balada Kura-Kura 3:30 Science Film: Ticket to Adventure 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 News: Majalah Udara 9:00 World News 9:35 Quiz: Berpacu Dalam...

Rights body will query activists

Rights body will query activists JAKARTA (JP): Rights campaigner Marzuki Darusman expressed his belief yesterday the military and police were linked to the highly publicized disappearances of student and political activists. "It isn't too difficult to believe that military apparatus are linked to the activists' disappearance," the deputy chairman of the National Commission on Human Rights said yesterday.

Professional managers fill key ministry posts

Professional managers fill key ministry posts JAKARTA (JP): Several professional managers from top private and state companies have been appointed to fill important posts in the Ministry of Finance and the Office of the State Minister of the Empowerment of State Enterprise.

Lombok pottery pieces go international

Lombok pottery pieces go international By H. Bur Solihin MATARAM (Antara): A decade ago pottery from Lombok, such as large bowl-like water containers and lamp shades, were merely simple works made with traditional techniques. Today these articles have not only found their way into star-rated hotels but have also made inroads into the world market.

Tourist visas

Tourist visas It is really sad to read about the decreasing figures of tourist visiting Indonesia (The Jakarta Post, April 20). I have a suggestion which might increase the flow of tourists despite all the negative reports about the country. Perhaps, the government should intervene and amend the rules for getting an Indonesian visitor and tourism visa. This would mean attracting more tourists and helping these tourists to see trading potentials, which would help Indonesia as well as themselves.

Golkar rejects talk of leadership change

Golkar rejects talk of leadership change JAKARTA (JP): Golkar has said no to a spate of calls for a new president. An official of the ruling political organization said yesterday that Golkar would not heed student demands calling for President Soeharto to be replaced since now was not the time for a presidential election.

Recourse set in bankruptcy law

Recourse set in bankruptcy law JAKARTA (JP): A new bankruptcy act which will come into force in July promises simple and swift court actions that will give better protection to creditors and other claimants than the existing legislation. Enacted through a government regulation and replacing a 1905 law on bankruptcy, the law states that a person or institution with debts owed to two or more creditors can be declared bankrupt by a court order if he/she or it defaults on at least one of the debts.

Housing complex hit by flood

Housing complex hit by flood JAKARTA (JP): Hundreds of houses in a complex in East Jakarta were flooded yesterday, despite having fair weather all day. Water began to rise in the Cipinang Indah housing complex at 11 a.m. By 7:30 p.m. floods were up to 1.5 meters deep, residents said. "Many residents parked their cars at the housing complex gate because the floods prevented them from entering," Andi, a resident, told The Jakarta Post.

Shuttlers tune up for Thomas, Uber Cup finals

Shuttlers tune up for Thomas, Uber Cup finals JAKARTA (JP): Indonesian top shuttlers shaped up for the Thomas Cup and Uber Cup finals in simulation matches at the Senayan Indoor Stadium yesterday, with Hariyanto Arbi giving the only worry to the defending champions. Former world champion Hariyanto was obviously not on his top form when he lost in three sets to his junior Marleve Mainaky in their men's singles match.

Conversion Rates

Conversion Rates Jakarta (JP): Bank Ekspor Impor Indonesia's (Bank Exim) indicative conversion rates on April 24,1998: Buying Selling Rp Rp U.S dollar 1 7,500.00 8,500.00 Austrian shilling 1 569.50 678.30 Australian dollar 1 4,828.90 5,379.20 Belgian franc 1 200.90 222.60 Canadian dollar 1 5,191.00 5,739.70 Swiss franc 1 5,003.30 5,542.50 Deutschemark 1 4,134.40 4,613.00 Danish krone 1 1,087.40 1,205.30 French franc 1 1,236.50 1,371.90 Poundsterling 1 12,423.50 13,735.80 Hong Kong dollar 1...

Stocks drop due to decline in blue chips

Stocks drop due to decline in blue chips JAKARTA (JP): Share prices on the Jakarta Stock Exchange (JSX) were again driven down yesterday by a sharp fall in large capitalized stocks, stockbrokers said. The JSX Composite Index ended 0.3 percent lower, down 1.37 points to 490.48, on a total turnover of 317.10 million shares worth Rp 409.99 billion (US$51.57 million). Brokers said most investors dumped blue-chip stocks like Astra International, Telkom and Indosat due to their poor corporate results.

Nuriana reelected West Java governor

Nuriana reelected West Java governor BANDUNG, West Java: As many predicted, 60-year-old R. Nuriana was reelected governor of West Java after winning a majority vote during a plenary session of the local legislative assembly here Wednesday. Nuriana was first appointed to the office May 22, 1993, and was inducted by then home affairs minister Moch. Yogie S.M. If his reelection is endorsed by the President, he will be inducted by Home Affairs Minister R. Hartono on May 22.

Where to go in Jakarta:

Where to go in Jakarta: Exhibitions * Painting, Sculpture Exhibition by 82 Alumni ASRI Yogya, at World Trade Center, Jl. Jend. Sudirman Kav. 29-31, Central Jakarta, 10 a.m. to 9 p.m., until April 27. * 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.

Inco earns $5.2 million in first quarter

Inco earns $5.2 million in first quarter JAKARTA (JP): Nickel producer PT International Nickel Indonesia (Inco) announced unaudited earnings of $5.2 million for the first quarter of 1998, compared to $7.1 million for the first quarter of 1997. The company said the decrease in net earnings for the first quarter of 1998 was due to lower nickel price realizations, partially offset by higher deliveries and reduced production costs, the company said in a statement.

Food aid to pour into Indonesia

Food aid to pour into Indonesia JAKARTA (JP): Japan plans to send more than 500,000 metric tons of rice to Indonesia to ease escalating food shortages due to the severe drought, Japan's agriculture minister said yesterday. Indonesia had made a formal request to Japan for more than 500,000 tons of rice, Agriculture, Forestry and Fisheries Minister Yoshinobu Shimamura said as quoted by Antara.

Dismissed workers seek redress

Dismissed workers seek redress JAKARTA (JP): Seventeen former employees of state-run tin mining company PT Tambang Timah took their dispute with the company to the National Commission on Human Rights. The group, which was met by commission members Clementino dos Reis Amaral and Nohamad Salim, claimed Monday PT Tambang Timah had failed to pay allowances they were entitled to upon their dismissal several years ago.

Scholarships offered to athletes

Scholarships offered to athletes PURWOKERTO, Central Java (JP): The state Jenderal Soedirman University here is offering scholarships to 25 athletes across the country in the next academic year. The university's rector, Rubiyanto Misman, said yesterday the awards were aimed at boosting not only the athletes' performances but also those of local talents. He said the university would also allow the athletes to skip classes or exams when they were in competition.

Govt's humorless stance no laughing matter for press

Govt's humorless stance no laughing matter for press JAKARTA (JP): The government's failure to grasp humorous intent could threaten the existence of the country's press, speakers in a discussion on a responsible press agreed here yesterday. Human rights campaigner Marzuki Darusman, social psychologist Sartono Mukadis and senior journalist Susanto Pudjomartono addressed a short course for journalists at the Dr. Soetomo Press Institute (LPDS).

Wiranto meets with KL counterparts

Wiranto meets with KL counterparts JAKARTA (JP): Minister of Defense/Armed Forces Commander Gen. Wiranto began a visit to Kuala Lumpur yesterday by meeting his Malaysian counterparts, Defense Minister Syed Hamid Albar and Commander of the Malaysian Armed Forces Gen. Ismail. Wiranto told the Malaysians about Indonesia's desire to cooperate fully in efforts to maintain regional stability.