Indonesian Political, Business & Finance News

Archive: 29 April 1998

59 articles found

Telecommunication failures rectified

Telecommunication failures rectified By Reiner Simanjuntak SINGAPORE (JP): New telecommunications technology has offered telecom carriers a cheaper and more resilient way to increase their network capacity in transmitting voice and data signals, to meet the rising demand on telecom services like Internet, tele- banking and other multimedia applications.

Oil output off Timor to start

Oil output off Timor to start TOKYO (Reuters): Production at two oil fields off Timor will start in July once remodeling of a floating production, storage and offloading (FPSO) unit for the project is finished in May, the FPSO operator said on Monday. Operator Modec Inc. last year won a contract from Australia's BHP Petroleum Pty. Ltd. to refurbish an old floating platform for use at the Elang and Kakatua oil fields, a Modec spokesman said.

Wildlife dying in RP sanctuary

Wildlife dying in RP sanctuary CALAUIT, Philippines (AP): African and other animals in a Philippine sanctuary are dying because of a long drought attributed to the El Nino weather phenomenon, sanctuary officials say. Resident manager Terencio Libertad said 28 Calamian deer and two impalas had died of hunger because of the dry spell, which has killed much of the vegetation at the 3,760-hectare Calauit Game Preserve and Wildlife Sanctuary. Five other impalas and some water bucks are missing.

Filipino wins 11th leg of Tour of Philippines

Filipino wins 11th leg of Tour of Philippines MANILA (AP): Cyclist Enrique Domingo won yesterday's 11th stage of the Tour of the Philippines, but Warren Davadilla kept the overall lead by tying with his closest challenger, Arnel Quirimit. All three are members of the Philippine team.

Asian currencies firm as greenback gets in a twist

Asian currencies firm as greenback gets in a twist SINGAPORE (Reuters): Asian currencies were largely steady in late yesterday trade as the U.S. dollar grappled with conflicting reports about the likelihood of a near-term U.S. interest rate hike. The Thai baht dominated activity in otherwise sluggish, holiday-thinned trade as continuing demand for investment in Bangkok Bank's recent share issue triggered a squeeze in the offshore swap market, spurring dollar sales for baht.

Asian have modern views on marriage: Survey

Asian have modern views on marriage: Survey SINGAPORE (JP): The latest Asian Ideals survey, conducted by MasterCard International, revealed that Asians have modern attitudes towards money matters in marriages. Regionally, 50 percent were in favor of a joint bank account for married couples, 38 percent were not in favorite and 11 percent were undecided.

TV today

TV today TVRI 2:00 p.m. News: Berita 14 2:30 Music 2:35 Children's Film: White Lies 3:05 Family's Film: Road to Avonlea 4:00 Regional News 4:30 Teen Program: Remaja Indonesia 5:00 Science and Technology 5:30 Education Quiz: Cepat Tepat 6:05 My Country: Rona Nusantara 6:15 Sports 6:30 TVRI News (in English) 7:00 Evening News 7:35 TV Drama: Jumpa Kembali 8:05 Documentary: Samudra Kita 8:30 News: Laporan Peristiwa 9:00 World News 9:35 TV Drama: Cindua Mato 10:30 Late News 10:40 TV Series: Special...

Health concern in Commonwealth

Health concern in Commonwealth WELLINGTON (AP): New Zealand team doctor Richard Edmond said yesterday he had serious concerns about the dangers of smog at September's Commonwealth Games in Kuala Lumpur. Edmond, a team doctor at three Olympic Games and two Commonwealth Games, was named to head a 12-member medical team to accompany New Zealand's competitors. He said the medical team was the biggest for a games because of the problems with pollution in Malaysia.

Only one king

Only one king At my age (I am about 70, although I often feel 17 in spirit), I need a new challenge every morning when I get up and have my coffee. I decided to subscribe to The Jakarta Post, believe it or not, merely because of its Chess Quiz. After some time, I acquired an additional skill -- reading upside down (for the solution). The beauty of chess lies in its morality. Every citizen (pawn) is given equal opportunity for promotion to the highest rank in society.

Consumer agency holds poll on planned sticker system

Consumer agency holds poll on planned sticker system JAKARTA (JP): The Indonesian Consumers Foundation (YLKI) is conducting a public poll on the planned traffic sticker system to find out what people really think, its vice chairman said yesterday. Agus Pambagio said the activity was launched Monday through questionairres and the YLKI's web site and mailing list.

Court sentences shaman to death for serial murders

Court sentences shaman to death for serial murders JAKARTA (JP): Lubuk Pakam District Court in North Sumatra sentenced Akhmad Suraji, a 47-year-old local shaman, to death for the murder of 42 women over a 10 year period on Monday.

Efficiency the key to keeping one's job

Efficiency the key to keeping one's job JAKARTA (JP): At a time when companies are laying off workers in droves, being efficient in the workplace could be the difference between keeping or losing one's job, three top women executives believe. This tip was given in different words by three speakers at a seminar Saturday discussing the role of career women in surviving the economic crisis.

Nigerian soccer player on trial for heroin deal

Nigerian soccer player on trial for heroin deal JAKARTA (JP): A Nigerian soccer player was indicted at Central Jakarta District Court on Monday for his role in the sale of 35 grams of heroin. Prosecutor R. Sitanggang said the 25-year-old defendant, Felix Otutu, was arrested at Hanover Hotel in Tanah Abang on Nov. 6, last year. "Police confiscated a plastic package that contained the heroin belonging to the defendant," Sitanggang said.

Moslems greet new year with prayers for end to crisis

Moslems greet new year with prayers for end to crisis SEMARANG (JP): Moslems in Central Java greeted the beginning of the 1419 Islamic year of Hijr on Monday by holding mass prayers for an end to the economic crisis. In almost all mosques and small prayer houses, residents listened to sermons urging them to be patient.

Traffic sticker system

Traffic sticker system I was disappointed that the Indonesian Consumers Association (YLKI) has objected to the concept of the traffic sticker system (The Jakarta Post, April 22), and I would ask them to reconsider the matter before proposed discussions with City Council.

PLN turns to oil supply

PLN turns to oil supply LONDON (Reuters): Indonesian state power utility PT Perusahaan Listrik Negara (PLN) wants to buy more oil products for power generation and cut gas purchases made in hard currency, an energy official said yesterday.

Enough is enough

Enough is enough The tearful statement of a recently returned political activist -- kidnapped by a mysterious gang two months ago -- before the National Commission on Human Rights on Monday was too gruesome to bear for most listeners.

Tahija retains 10.49% stake in Bank Niaga

Tahija retains 10.49% stake in Bank Niaga JAKARTA (JP): The Tahija family retains a 10.49 percent stake in Bank Niaga after Hashim Djojohadikusumo's Tirtamas Group failed to make full payment on its planned acquirement of the family's shares, a bank spokesman said yesterday.

Stock Exchange

Stock Exchange Stock prices on the Jakarta Stock Exchange (in rupiah) on April 27, 1998: Shares Close Change Trading Volume -------------------------------------------------------------- Ades Alfindo 650 0 0 AHAP Insurance 500 0 0 Alter Abadi 1,050 50 176,000 Alumindo Light Metal 400 0 50,500 Alumindo Perkasa 300 0 0 Aneka Kimia Raya 525 25 190,500 Aneka Tambang 1,600 -25 4,164,000 Anwar Sierad 250 0 20,500 Apac Centertex Corp.

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 27 to May 3: U.S.

Senen book haven moves to Depok

Senen book haven moves to Depok JAKARTA (JP): Skyrocketing rents in Senen Market, Central Jakarta, have forced about 30 used book traders there to move to the University of Indonesia campus at Depok, West Java. The Senen Traders Cooperatives, which oversees the traders, have raised the rent from Rp 150,000 (US$19) per square meter a year before the crisis began last July to Rp 350,000 now.

Volcker blames global markets for Asian mayhem

Volcker blames global markets for Asian mayhem HONG KONG (Reuters): Weak banks, crony capitalism, excessive borrowing and inflated currencies have all borne their share of blame for the Asian financial crisis. But on Monday, one of the world's most prominent former central bankers pointed the finger at a different culprit -- financial markets themselves.

I do not represent people's power movement: Gus Dur

I do not represent people's power movement: Gus Dur JAKARTA (JP): Abdurrahman Wahid, the chairman of the 30- million-strong Nahdlatul Ulama (NU) Moslem organization, dismissed speculation Monday that he was becoming a symbol of "people power" in the country.

Habibie's new plan for political, economic reform

Habibie's new plan for political, economic reform JAKARTA (JP): Vice President B.J. Habibie reiterated Monday that he had prepared an eight-point plan to be used as the basis for reform of the country's political and economic sectors. Habibie told a gathering of Bandung Institute of Technology alumni that he hoped they would support his idea, which he called Asta Krida, which literally means eight activities.

Marriage course for Moslems

Marriage course for Moslems SINGAPORE (DPA): In a bid to curb rising divorce rates among Moslems, Singapore authorities have announced that Islamic couples must go through a new marriage preparation class before they are allowed to wed. The new rule takes effect in July, a news report in the island republic said yesterday. Some 1,088 Moslem married couples in Singapore split up in 1996, an increase of 11 per cent on 1995, the Straits Times newspaper said.

ADB assists fight against malaria

ADB assists fight against malaria BANJARMASIN, South Kalimantan: The Asian Development Bank (ADB) has earmarked Rp 460 million for the construction of a center to assist in the province's fight against malaria. The head of the provincial health office, Soejano H, was quoted as saying by Antara that the malaria station would be constructed on a one-hectare plot in Batulicin, Kotabaru district, where Anopheles mosquitoes, the carrier of malaria, proliferate.

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.

Student protests turn violence in Medan, Mataram

Student protests turn violence in Medan, Mataram JAKARTA (JP): Thousands of students here and in at least seven other cities across the country staged rallies yesterday and on Monday in protest at the New Order administration's handling of the deepening economic crisis. Violence leading to injuries of both students and security officers were reported during Monday's protests in Mataram, West Nusa Tenggara, and Medan, the capital of North Sumatra.

Strong earthquake rocks Irian Jaya

Strong earthquake rocks Irian Jaya JAKARTA: A powerful earthquake rocked parts of eastern Indonesia yesterday but there were no immediate reports of damage or casualties, the Meteorology and Geophysics Agency said. The quake measuring 6 on the Richter scale jolted the towns of Serui and Nabire at around 1:40 a.m., said Aries, an agency official, as quoted by Antara. He said the quake was centered about 200 kilometers south of Serui on Yapen Island, off the northern coast of Irian Jaya.

IMF likely to resume financial aid to RI soon

IMF likely to resume financial aid to RI soon WASHINGTON (Dow Jones): The International Monetary Fund's executive board is expected next week to back resumption of credit outlays to Indonesia, although the initial outlays are likely to total around $1 billion a month, monetary sources said Monday. The officials, speaking to Dow Jones Newswires on condition of anonymity, said there isn't any reason at this time to expect a further delay in credit outlays to Indonesia.

PSSI to settle debt, Tiger Cup to go on

PSSI to settle debt, Tiger Cup to go on JAKARTA (JP): The second Tiger Cup will remain in Indonesia as scheduled after the All Indonesian Soccer Federation (PSSI) agreed to pay its debt of US$28,000 to the Asian Football Confederation (AFC) by May 14, the federation's secretary said Monday. Nugraha Besoes was quoted by Antara as saying that the organization had no trouble in providing the money.

Asian markets mixed after Wall Street drop

Asian markets mixed after Wall Street drop HONG KONG (AP): Asian stock markets closed generally mixed yesterday despite a large drop overnight on Wall Street, but the key index in Tokyo fell to its lowest level since mid-January. Tokyo's benchmark Nikkei Stock Average of 225 selected issues shed 254.52 points, or 1.63 percent, closing at 15,395.43, the lowest closing since Jan. 14. On Monday, the average had lost 361.29 points, or 2.26 percent.

19 people killed in bus accident

19 people killed in bus accident SURABAYA (JP): Nineteen people died instantly and 28 others were injured when a Setia Bakti bus bound for Jakarta from Madura collided with a trailer truck in Tambak Bojo village in Tuban, about 80 kilometers north of here, Monday afternoon. Seventeen of the deceased were the bus passengers and its driver, Sitar Angin-Angin, 40, of the West Java town of Bekasi. The other two fatalities were the truck driver and a passenger.

Asians seek crisis cures at ADB meeting

Asians seek crisis cures at ADB meeting GENEVA (Reuters): Financial officials from 56 Asian countries, gathering for the annual meeting of the Asian Development Bank, are looking for ways out of the region's economic crisis. The onus is likely to fall on Japan. Jungsoo Lee, chief economist at the ADB, said that if growth were to slow in Japan, it ..."will have a very serious impact on other Asian countries, particularly because Japan is a major investor and trading partner for Asia".

Police takes over Games' sticker probe

Police takes over Games' sticker probe JAKARTA (JP): State Minister of Youth Affairs and Sports Agung Laksono has told the police they should not hesitate to question government officials or top businesspeople in connection with an alleged scam in the sale of fund-raising stickers for the 19th Southeast Asian Games. Agung said Monday the government believed the police would conduct a thorough investigation of the case, even if it involved renowned state officials or businessmen.

Rate fear drags down local share prices

Rate fear drags down local share prices JAKARTA (JP): Fears of a further increase in interest rates dragged down share prices on the Jakarta Stock Exchange (JSX) Monday. Brokers said that most investors were now waiting for another increase in SBI rates as last week's increase had failed to prop up the battered rupiah.

Police arrest 102 Thai fishermen

Police arrest 102 Thai fishermen PALANGKARAYA, Central Kalimantan: One hundred and two Thai fishermen are in police custody in Kota Waringin Barat district for illegal fishing in Indonesian waters last March 30 and April 3, a police spokesman said here Monday. Chief information officer of the Central Kalimantan police office, Maj. Erman, was quoted by Antara as saying the police were processing the alleged offenses under applicable laws and regulations.

Crisis has modest effect on world growth: IMF

Crisis has modest effect on world growth: IMF HONG KONG (Reuters): The International Monetary Fund said on Monday it remained convinced Asia's crisis would only modestly hurt the global economy, despite charges by some observers that it was too optimistic on world growth. The agency also said it saw more scope for growth in Japan following the government's unveiling of a fiscal package.

WHO luncheon on safe motherhood

WHO luncheon on safe motherhood JAKARTA (JP): The Indonesian office of the World Health Organization (WHO) is holding a business luncheon tomorrow with the theme Business Caring for Mothers.

Ministers deny restrictions on clove trade

Ministers deny restrictions on clove trade JAKARTA (JP): The government has denied any knowledge of a new restriction on the trading of cloves, stressing it will no longer interfere with the distribution and sale of the commodity. Industry and Trade Minister Mohamad 'Bob' Hasan reiterated Monday that the government was committed to freeing up the clove trade and any other monopolistic arrangements, as it was a mandate of the International Monetary Funds (IMF).

Habibie's brilliant ideas

Habibie's brilliant ideas From Jayakarta The current condition of stockpiles of rice, flour, soybeans, sugar, etc., reminds me of the great and brilliant ideas of B.J. Habibie, now Indonesia's Vice President, voiced six years ago. Habibie wanted to utilize the potential of the 670-km long Mamberamo river in Irian Jaya. His idea was to build hydroelectric plants for an industry to manufacture aluminum, the main component of the airplane industry.

Remain in peace talks: Ramos

Remain in peace talks: Ramos MANILA (DPA): Philippine President Fidel Ramos urged communist rebels yesterday to stay committed to the peace talks despite the slow progress during four years of negotiations aimed at ending one of Asia's longest running leftist insurgencies. "Let us allow this seed that has been planted to grow in our hearts, nourished by our respect for the human rights of our people and our faith in the Filipino," Ramos said.

Fires leave 550 people homeless

Fires leave 550 people homeless JAKARTA (JP): Fires destroyed about 60 houses in Gunung Sahari and two in Petojo Selatan, both in Central Jakarta, Monday, leaving 550 people homeless, officials and residents said. No injuries were reported in either incident but the material losses are believed to be more than Rp 1 billion (US$125,000). The larger fire occurred on Jl. Garuda Ujung, Gunung Sahari subdistrict, where 98 families lost their homes. The blaze started at 6.45 a.m.

Fertilizer prices triple in Bogor

Fertilizer prices triple in Bogor BOGOR (JP): Farmers in the region are complaining that prices of fertilizers have soared by much more than the 25.5 percent increase the government set on April 13, a media report said Monday. They said that, in reality, the official increase existed only on paper because retailers never complied with the government's instruction. Antara reported that Bogor farmers supervise the market prices and make sure their interests are protected.

Police officers accused of selling evidence

Police officers accused of selling evidence JAKARTA (JP): A businesswoman accused members of the city police economic detective unit of allegedly selling 7.32 tons of garlic they confiscated from her last year. The owner of the garlic, Setia Arba Sibarani, 43, went to the city police headquarters on Monday to file a complaint against the officers, but nobody was willing to receive her.

Man arrested over alleged role in Tambora murder

Man arrested over alleged role in Tambora murder JAKARTA (JP): Police have captured one of the two people suspected of murdering a man and stashing his body in the trunk of a President taxi early Sunday in North Jakarta. But city police spokesman Lt. Col. Aritonang refused to provide details about the suspect. Local newspapers said both the attackers and the victim were hoodlums involved in a turf war in the Kali Besar area, Tambora, North Jakarta.

Dayaks mark new year after harvest gathered in

Dayaks mark new year after harvest gathered in By R. Masri Sareb Putra JAKARTA (JP): Just like any other tribe under the sun, the Dayak people of Borneo have their own unique way to determine the new year. For the Dayaks, who number three million, the new year begins a few weeks after the rice harvest which, following the wet season, usually comes in early April.

Rupiah's steady fall lifts Aneka Tambang

Rupiah's steady fall lifts Aneka Tambang JAKARTA (JP): Publicly listed state mining company PT Aneka Tambang said its net profit increased 113 percent to Rp 69.52 billion (US$9.2 million) from Rp 32.62 billion last year. Company president Dedy Aditya Sumanegara said Monday the windfall was caused by an increased sales volume and the dollar's appreciation against the rupiah.

Muladi's drive for judicial reform

Muladi's drive for judicial reform With our Seventh Development Cabinet barely two months old, Minister of Justice Muladi has by his words and actions raised hopes among the public that the government is sincere in its stated intention to carry out a judicial development program. Now, people are asking what kind of support Muladi is prepared to give to the attempts to bring about political reforms.

Labor activists urge hike in minimum wages

Labor activists urge hike in minimum wages JAKARTA (JP): More than 50 labor activists from the Jakarta branch of the Federation of All Indonesian Workers Union (FSPSI) demanded Monday that the government increase monthly minimum wages in Greater Jakarta. The labor activists, who failed to meet with Minister of Manpower Theo L. Sambuaga, filed their petition with Director of Labor Standards Amrinal.

Will our middle class disappear?

Will our middle class disappear? By Meuthia Ganie Rochman JAKARTA (JP): Many analysts view that a middle class has steadily developed in such Asian emerging markets as China, Thailand, Malaysia and Indonesia. Popular analysis of this middle class applies the consumption indicator. In the above countries, the meaning of consuming activities has widened from a mere phenomenon of production to a new model of domination.

Conversion Rates

Conversion Rates Jakarta (JP): Bank Ekspor Impor Indonesia's (Bank Exim) indicative conversion rates on April 27,1998: Buying Selling Rp Rp U.S. dollar 1 7,500.00 8,500.00 Austrian shilling 1 580.60 690.20 Australian dollar 1 4,902.90 5,452.10 Belgian franc 1 205.00 226.70 Canadian dollar 1 5,302.50 5,852.60 Swiss franc 1 5,079.90 5,617.00 Deutschemark 1 4,215.00 4,694.50 Danish krone 1 1,108.80 1,226.70 French franc 1 1,261.30 1,396.90 Poundsterling 1 12,680.40 13,986.30 Hong Kong dollar 1 971.

Activist testifies he was tortured

Activist testifies he was tortured JAKARTA (JP): Political activist Pius Lustrilanang told the National Commission on Human Rights on Monday that he was beaten, electrocuted and kept blindfold for two months after being kidnapped by a group of unidentified men. "I am telling you this at the risk of death," Pius told a meeting held to gather information about the recent disappearance of a number of activists who have led or been involved in some anti-government protests.

Foreign investors may buy big stake in SSI

Foreign investors may buy big stake in SSI JAKARTA (JP): A number of foreign investors are currently holding serious negotiations to buy a substantial stake in PT Surya Semesta Internusa (SSI), a company executive has said. The company's vice president, Percy Marimba, said Monday that the investors were based in the United States and Asian countries but he refused to disclose their names. "The negotiations are under way. Hopefully, we can reach something concrete by June this year," he said.

Govt announces enactment of resource rent tax

Govt announces enactment of resource rent tax JAKARTA (JP): The government formally announced Monday the introduction of the resource rent tax on the country's timber companies. It replaces the forest royalties. Director General of Forest Utilization Titus Sarijanto said that based on Government Regulation No. 51/1998 issued April 20, forest concessionaires would be liable for the rent tax (also known as the resource royalty provision) for every forest product they collect from the forest.

PMI-ICRC team sends relief to Mimika

PMI-ICRC team sends relief to Mimika JAKARTA: The Indonesian Red Cross (PMI), in association with the International Commission of the Red Cross (ICRC), has distributed food and medical supplies to about 18,000 local people during the past five months in Mimika regency, Irian Jaya. "Food and medicines have been distributed to 18,000 people in 19 different locations in Mimika," ICRC spokesperson Sri Wahyu Endah was quoted by Antara as saying here Monday.

Indonesian Red Cross Day

Indonesian Red Cross Day JAKARTA (JP): The GK Goh Group and its Indonesian subsidiary PT G.K. Goh Ometraco designated last Wednesday, April 22, Indonesian Red Cross Day. All Indonesian commissions earned by the group that day will be donated to the Indonesian Red Cross, which will channel the funds to the poor, company officials said yesterday. The effort is aimed at helping those worst hit by the economic crisis that has sent prices of essentials sky high.

New home affairs officials appointed

New home affairs officials appointed JAKARTA (JP): A familiar face and an active military lecturer were installed as the new secretary-general and director general of the Ministry of Home Affairs Monday. Faisal Tamin, former director general for regional development, was inducted as secretary-general. He replaces Lt. Gen. (ret) Suryatna Soebrata, who has reached the mandatory retirement age. Maj. Gen. Dunidja is the ministry's new director general for sociopolitical affairs. He replaces Maj.

PLN projects loss of Rp 6t this year

PLN projects loss of Rp 6t this year JAKARTA (JP): State electricity company PLN may suffer a loss of at least Rp 6 trillion (US$800 million) this year due to the rupiah's sharp depreciation against the American dollar. "The Rp 6 trillion loss estimate is based on an average exchange rate of Rp 6,000 per dollar. If the average exchange rate is lower, the potential losses will be much bigger," company director Djiteng Marsudi told reporters Monday.