Indonesian Political, Business & Finance News

Archive: 3 April 1998

Showing 1-50 of 60 articles

Thai army opens bases for tourists

Thai army opens bases for tourists BANGKOK (AFP): Thailand's cash-strapped army announced a plan yesterday to open up its bases around the country to tourists in an effort to raise much-needed money. Army commander Chettha Thanajaro said in a statement that the army would open some of its camps up to paying tourists following government budget cuts which had left it short of cash.

Deutsche Bank cuts back loan exposure

Deutsche Bank cuts back loan exposure FRANKFURT (Reuters): Deutsche Bank has cut back its loan exposure to problem countries in South-east Asia by almost two billion marks, a Deutsche management board member said yesterday. Josef Ackermann, whose responsibilities include the Asia and Pacific region, told a news conference: "In the problem countries -- Indonesia, South Korea, Thailand and Malaysia -- we had a loan exposure of nine billion marks at end-1997...

Laelae islanders refuse to move

Laelae islanders refuse to move UJUNGPANDANG, South Sulawesi: About 200 families on Laelae island have refused to move after the provincial administration leased the island to ALatieF Corp. which plans to develop it into a tourist resort. The remaining residents on the island have refused to be moved to a mainland village where each family has been promised a 36- square-meter house. One hundred and twenty-seven families from the island have already moved but the remaining 199 say they will not.

Taboo: Talking about it rather than doing it

Taboo: Talking about it rather than doing it MEGAMENDUNG, Bogor (JP): The quiet wooden grandeur of the Sadaparibhuta Vihara did nothing to absorb the muffled murmurings of some of the 700 people seated in the temple. Gathered for a two-day discussion on sex, drugs, violence and alcohol, parents, youngsters and the elderly were attending the seminar held by Indonesia's Nichiren Syosyu Buddhist society. The recent seminar zeroed in on teenage problems.

Fair to feature education expo

Fair to feature education expo JAKARTA (JP): The upcoming Jakarta Fair will, for the first time ever, feature a large education exhibition aimed at luring rich Indonesian students to study at local schools and universities. The exhibition will feature both formal and informal educational institutions, said Gito Bantas, president of PT Jakarta International Trade Fair Corporation (JITFC), which manages the annual event.

Orangutans get helping hand

Orangutans get helping hand SAMARINDA, East Kalimantan: The Samboja Forest Research Center here has rescued several orangutans trapped in the Sangatta forest area in Kutai district. The head of the research center, Adi Susilo, said yesterday that the orangutans were believed to have come from Kutai National Park in Bontang, about 50,000 hectares of which have been gutted by fire. He did not say how many orangutans had been rescued.

Food relief yet to reach famine victims in Irian Jaya

Food relief yet to reach famine victims in Irian Jaya JAKARTA (JP): Amid fresh reports of food shortages in East Kalimantan, hundreds of boxes of food relief for famine victims in Puncak Jaya, Irian Jaya, are sitting in storage due to a poor distribution system. Antara reported that 23,000 people in Kutai and Pasir regencies in East Kalimantan were facing food shortages because drought had ruined their crops.

RI, IMF agree on new targets

RI, IMF agree on new targets JAKARTA (JP): Indonesia and the International Monetary Fund (IMF) have agreed on new economic targets and a more gradual reduction of subsidies for basic commodities, government sources said yesterday. "We're nearing the conclusion," IMF first deputy managing director Stanley Fischer said separately upon arrival here yesterday afternoon. Fischer said the negotiations between Indonesia and the Fund which started on March 18 had been going well.

No fresh orders for many ad agencies

No fresh orders for many ad agencies JAKARTA (JP): The economic crisis has severely wounded Indonesia's advertising industry, with some ad agencies receiving no fresh orders in the past three months, analysts said yesterday. "The industry is now in a cathartic state," said Ken McKenzie, the owner, publisher and editor-in-chief of Hong Kong-based Media Magazine, said at an advertisers' forum here yesterday.

88 injured in student demonstrations

88 injured in student demonstrations YOGYAKARTA (JP): The continuing wave of student protests reached new heights yesterday when thousands of youths tried to march off their campuses here and clashed with security personnel, leaving 88 injured. Similarly tense student demonstrations also took place in the West Java capital of Bandung, the Central Java cities of Semarang and Purwokerto, the East Java capital of Surabaya, Maluku capital of Ambon, and Pontianak in West Kalimantan.

Aussies keep tariff barrier on RI copy paper

Aussies keep tariff barrier on RI copy paper CANBERRA (Dow Jones): The Australian government yesterday said it will keep price restrictions on imports of A-4 copy paper from Indonesian company PT Pabrik Kertas Tjiwi Kimia. The decision is notable because it reverses a recommendation of the government's Anti-Dumping Authority, which said restrictions on the price at which the company can sell its product into Australia should be removed.

Culture of resignation

Culture of resignation From Media Indonesia In keeping with progress and globalization, ethical behavior as well as the quality of human resources needs to be improved. Professionalism needs to be complemented with good ethics, openness, creativity and integrity. National interest should be placed above personal, family and clan interest or unethical practices for gain.

Government lowers this year's tourist arrivals target

Government lowers this year's tourist arrivals target JAKARTA (JP): The government has revised down its foreign tourist arrivals target for this year about 15 percent to 5.5 million from the initial projection of 6.5 million. Minister of Tourism, Art and Culture Abdul Latief said yesterday that the target needed adjusting to reflect the real trend of foreign tourist arrivals into the country.

Lonsum has new president

Lonsum has new president JAKARTA (JP): Publicly-listed plantation company PT PP London Sumatra (Lonsum) Indonesia has appointed Muhammad Akib as temporary president to replace Geoff Brown, the company said yesterday. Brown, who worked 20 years for the company, resigned as president but agreed to provide consultancy services after his retirement, company president commissioner Ibrahim Risjad said in a statement.

Court rejects lawsuit filed against police

Court rejects lawsuit filed against police JAKARTA (JP): South Jakarta District Court predictably rejected lawsuits filed by 57 Megawati Soekarnoputri supporters against Jakarta Police Chief Maj. Hamami Nata over their detention yesterday. The same court also threw out lawsuits filed by a further 65 people arrested in the same incident on the grounds that they had been absent from the court on the three occasions for which hearings in the case had been scheduled.

Unocal provides scholarships

Unocal provides scholarships JAKARTA (JP): American energy company Unocal Corporation is to provide up to US$1 million in scholarships for Southeast Asian students to study petroleum and related disciplines at the Colorado School of Mines (CSM). The vice president and general manager of Unocal Indonesia, Olin D.

Ailing plantation firms face two-year deadline

Ailing plantation firms face two-year deadline JAKARTA (JP): Ministry of Forestry and Plantations Sumahadi said yesterday that poorly managed state plantation firms would be given two years to improve their performance or face merger or liquidation. "All state plantation and timber companies have to make a profit even though they perform special tasks for the government", he said after a meeting with forest concession holders and directors of state plantation companies.

Navy gives scholarships

Navy gives scholarships BOGOR (JP): Navy Chief of Staff Admiral Arief Kushariadi handed over yesterday 200 scholarships to students at the Bogor Institute of Agriculture (IPB). Each student who was given a scholarship gets Rp 100,000 per month for five years. Arief said the scholarships were given as a token of sympathy from the "Navy family" to IPB students who badly need help to survive the economic crisis.

Malaysian found dead

Malaysian found dead JAKARTA (JP): A Malaysian man was found dead in an alley off Jl. Kebon Sirih Barat, Central Jakarta, yesterday. It is suspected he died of a drug overdose. A Menteng Police subprecinct officer, who requested anonymity, said the victim had been identified as Mohd. Roslan, 45. "He may have died about three hours earlier at another place. His body had apparently been dragged into the alley beside the Borneo Hotel, where he'd been staying," he said.

Inflation exceeds 25 percent for first quarter

Inflation exceeds 25 percent for first quarter JAKARTA (JP): Indonesia's inflation rate soared to 25.13 percent in the first quarter of 1998, with month-on-month inflation rising 5.49 percent in March, the Central Bureau of Statistics said yesterday. Bureau chief Sugito Suwito said the country's economic growth last year was 4.6 percent, but he predicted a shrinkage for 1998 without giving specific figures.

FedEx's Jakarta flight

FedEx's Jakarta flight HONG KONG (Reuters): Federal Express Corp (FedEx) said yesterday it would introduce new Asian and trans-Pacific flights to provide new services to shippers in Jakarta and in Cebu in the Philippines. FedEx said it would also enhance services to shippers in Hong Kong, Singapore, Taiwan, Japan, Philippines and China by launching new routes this year.

Most blue chip shares lose ground in JSX

Most blue chip shares lose ground in JSX JAKARTA (JP): Stock trading at the Jakarta Stock Exchange (JSX) remained under selling pressure yesterday, with most blue chip shares losing ground in moderate trade, brokers said. A stockbroker with BZW Niaga Securities said the government's announcement of March's higher-than-expected inflation rate and worsening economic indicators put the market into negative territory.

Proton price cut no joke

Proton price cut no joke KUALA LUMPUR (AFP): Malaysia's national car distributor stressed yesterday that its April 1 announcement of a one-third cut in the price of a Proton model was no April Fool's day joke. Edaran Otomobil Nasional spokesman T. Khirlinah Khadtap told The Star daily that the offer of 29,683 ringgit (US$8,245) for the Proton Iswara 1.3 aeroback model was only while stocks last. "There is market demand for a basic unit," Khirlinah said.

Getting out of crisis

Getting out of crisis From Neraca A lot has been done to alleviate the community's plight in coping with the economic crisis. The latest trend is providing free meals at certain food stalls to people in the lower income brackets who have lost their jobs because of the crisis. There is nothing wrong with this idea, of course. Unless we think about it more deeply, this may be the manifestation of social concern shown by well-off people to those less well-off.

Putting racial reconciliation on the agenda

Putting racial reconciliation on the agenda By Johannes Nugroho SURABAYA (JP): The inauguration of the seventh Development Cabinet by President Soeharto was preceded by an enthusiastic if slightly self-controlled period of name dropping for the cabinet lineup. Amien Rais, an unofficial candidate for the presidency, expounded the possibility of Indonesians of Chinese descent being admitted into the cabinet.

Foreign lawyers questioned

Foreign lawyers questioned JAKARTA (JP): National Police spokesman Brig. Gen. Da'i Bachtiar said yesterday that officers had questioned several foreign lawyers over alleged unauthorized practices here. But he declined to disclose the exact number of foreign lawyers, or the regulations or laws the lawyers had allegedly violated. "The case is still under investigation.

Total sells Tuban stake

Total sells Tuban stake PARIS (Reuters): French energy group Total said yesterday it had agreed to sell its 12.5 percent stake in the Tuban permit in Indonesia to Santa Fe Energy of the United States, as part of a strategy of selling non-core assets. The permit is on Java island and includes the Mudi onshore field, which produces 7,000 barrels of oil daily, Total said in a statement. It gave no financial details.

Father Sandyawan hospitalized

Father Sandyawan hospitalized JAKARTA (JP): Ignatius Sandyawan Sumardi, a Catholic priest recently cleared of charges for harboring political fugitives, has been admitted to a hospital for dengue fever, sources close to him said yesterday. Sandyawan was admitted to St. Carolus Hospital in Central Jakarta on Sunday, said Sukaryo, a social worker at the Institut Social Jakarta. The institute is a non-governmental organization headed by the Jesuit priest dedicated to help the urban poor.

Govt raises rice price to increase farmers' income

Govt raises rice price to increase farmers' income JAKARTA (JP): The government announced yesterday a 17 percent increase in the producer floor price of unhusked rice to Rp 700 (about 8 U.S. cents) per kilogram from Rp 600 to increase farmers' incomes. Chairman of the State Logistics Agency (Bulog) Beddu Amang said the increase, effective last Wednesday, was the second raise in three months and was expected to further encourage farmers to boost rice production.

Stock Exchange

Stock Exchange Stock prices on the Jakarta Stock Exchange (in rupiah) on April 2, 1998: Shares Close Change Trading Volume -------------------------------------------------------- Ades Alfindo 650 0 0 AHAP Insurance 500 0 0 Alter Abadi 825 150 56,500 Alumindo Light Metal 425 25 145,000 Alumindo Perkasa 375 0 0 Aneka Kimia Raya 625 25 114,000 Aneka Tambang 1,700 -25 6,276,500 Anwar Sierad 325 0 30,000 Apac Centertex Corp.

600 patients evaded medical treatment costs

600 patients evaded medical treatment costs JAKARTA (JP): At least 600 patients treated at the state Cipto Mangunkusumo General Hospital in Central Jakarta evaded paying for their medical treatment in the period between October and last month, it was revealed yesterday. H. Soepardi Soedibyo, the hospital's deputy director for general and financial affairs, said the patients simply refused to pay their bills and left, thereby burdening the hospital with huge financial losses.

Woman to marry her robber

Woman to marry her robber PURWOKERTO, Central Java (JP): A 22-year-old shop attendant, Sofyah, will marry today the man who grabbed a stack of banknotes totaling Rp 4 million (US$470) from her counter last week. Police have agreed to temporarily free the bridegroom-to-be, Hendro, 26, so that he can wed but security officers will be on hand until the man is returned to his cell. "But, of course, we won't be able to follow him into his bed on the wedding night," Banyumas Police precinct chief Lt.

Mexico, Latvia cancel Indonesian tours

Mexico, Latvia cancel Indonesian tours JAKARTA (JP): World Cup qualifier Mexico and the Latvian national team have dropped their plans to play exhibition matches here against the national soccer team being groomed for the Association of Southeast Asia Nation (ASEAN) Tiger Cup in September. Spokesman for the All-Indonesian Football Federation (PSSI) Tondo said yesterday Mexico had pulled out of its Indonesian tour due to the cancellation of its Asian trip.

Thought for food

Thought for food The drought currently plaguing several regions of Indonesia could not have come at a worse time. If United Nations research findings published this week are correct, an estimated 7.5 million Indonesians now face food insecurity that could last until early next year if the present prolonged dry season continues much longer.

26 participants at Borobudur festival

26 participants at Borobudur festival SEMARANG, Central Java: Twenty-six cultural troupes from 16 countries, including Indonesia, have confirmed their participation for the International Folklore Art Festival to be held at the Borobudur Temple from July 7 to 11. Head of the province's tourism office, Moelyono Baroen, said yesterday that the deadline of applications to join the event was closed on Tuesday. He said that of the 17 countries who applied, only 15 confirmed.

FAO aids rural banking

FAO aids rural banking JAKARTA (JP): The United Nations' Food and Agriculture Organization (FAO) agreed yesterday to provide US$258,000 in technical assistance to improve Indonesia's rural banking services. FAO country representative A.W. Jalil and Bank Indonesia's managing director Aulia Pohan signed the technical cooperation program agreement here yesterday.

Eight caught in dawn raid

Eight caught in dawn raid DILI, East Timor: East Timor military commander Col. Slamat Sidabutar said troops had ambushed and captured eight members of the Fretilin separatist movement. He said the ambush occurred as the eight suspected separatists were about to hold a meeting in a house in Ainutin village, just outside of Dili. The ambush occurred at 4:30 a.m. He said various items had been confiscated, including pamphlets which attempted to pit Armed Forces members against local students.

RI seeks international 'halal' recognation

RI seeks international 'halal' recognation By Joko Sarwono BOGOR, West Java (JP): The spate of bomb hoaxes in Jakarta which marked the heightened political tension prior to and during the presidential election last month did more than just scare people in high-rise buildings.

Asian currencies drop sharply as yen falters

Asian currencies drop sharply as yen falters SINGAPORE (Reuters): Asian currencies fell sharply yesterday, hit by concerted buying of dollars as the yen suffered from flagging confidence in Japan's economy and its ability to help the region. The yen stayed under the weather in reaction to gloomy results from Japan's "tankan" survey, which tracks corporate sentiment, published late on Wednesday.

Portuguese premier seeks meeting with VP Habibie

Portuguese premier seeks meeting with VP Habibie LISBON, Portugal (AP): Portuguese Prime Minister Antonio Guterres has proposed meeting with Indonesian Vice President B.J. Habibie this week to discuss the thorny subject of East Timor, a government official. "Our interest is to have this meeting on the highest level," Ana Paula Zacarias, spokeswoman for the Portuguese Foreign Ministry, told the Associated Press Wednesday.

News on Indonesia

News on Indonesia From Kompas It has gradually dawned on me that the foreign media's method and style of reporting on Indonesia still reflect the prejudices and superiority of the old days vis-a-vis a developing nation. Exaggeration also characterizes those foreign reports. In their analysis of recent happenings, they focus on riots taking place in several places, with one-sided comments blaming the government.

IMF is not a good Samaritan (2)

IMF is not a good Samaritan (2) By T.J. Addati This is the second of two articles on the role of the International Monetary Fund (IMF) and World Bank in the global economy. JAKARTA (JP): In all fairness to these institutions, there is one important respect in which countries may appear to be strengthened after receiving their assistance: the Gross National Product (GNP) has sometimes risen significantly after the conditionalities and the structural adjustments have been made.

YLBHI sets up post to trace missing activists

YLBHI sets up post to trace missing activists JAKARTA (JP): With the number of missing activists increasing, the Foundation of the Indonesian Legal Aid Institute (YLBHI) yesterday set up a monitoring post to help trace their whereabouts. "We want to help relatives of the missing activists search for their family members," Munir, the foundation's deputy chairman for operational affairs, said.

Strong earthquake hits West Sumatra

Strong earthquake hits West Sumatra JAKARTA (JP): An earthquake measuring 6.5 on the open-ended Richter scale rocked West Sumatra towns early yesterday morning, jolting residents awake and prompting them to flee in panic. There were no reports of casualties as of late last night. The quake was felt in the provincial capital of Padang, and the Padang Pariaman and Pesisir Selatan regencies.

VP candidate in helicopter mishap

VP candidate in helicopter mishap MANILA (AFP): A helicopter carrying leading vice-presidential candidate, Senator Gloria Macapagal-Arroyo, made an emergency landing in the central Philippines yesterday. Arroyo was unhurt, aides said. Arroyo, her husband Mike Arroyo, a town mayor, a television cameraman and a pilot were in the private helicopter that was about to take off in Silay on the island of Negros, aides said.

SilkAir flight drifts on landing

SilkAir flight drifts on landing SINGAPORE (AP): A SilkAir flight from Phuket, Thailand, drifted toward the edge of the runway when it landed at Singapore's Changi Airport yesterday, television reported. No injuries were reported. The plane was towed to the terminal building and those on board disembarked through a jetbridge, the TV report quoted SilkAir as saying. There were 88 passengers and seven crew members on board Flight MI 751.

Tokyo slump drags Asian bourses down

Tokyo slump drags Asian bourses down TOKYO (AFP): Japanese share prices led a regionwide fall yesterday, with the key index suffering the largest decline this year after the release of a weak "Tankan" business confidence survey. Singapore lost 2.0 percent on concerns about neighboring Malaysia, with Kuala Lumpur down 2.3 percent. Hong Kong was dragged down 1.3 percent by Tokyo's tumble, which eroded earlier gains in Sydney on Wall Street's continued strength.

Six indicted for kidnapping tycoon

Six indicted for kidnapping tycoon JAKARTA (JP): Six men were indicted at South Jakarta District Court yesterday for kidnapping the major shareholder of Bank Dagang Nasional Indonesia (BDNI) and extorting Rp 15 billion (US$1.7 million) from him. Prosecutor Uri Hasan Basri said the defendants -- Rodiaman Rachman, Kissinger M. Pandapotan, Supandi, Edy Sudrajat, Slamet Juardy, Ade Nurjaya, Bang Guan alias Benny, and Kamaludin -- kidnapped Sjamsul Nursalim and his driver, Sutarman, on Sept.

U.S. must act quickly to help SE Asia: Envoy

U.S. must act quickly to help SE Asia: Envoy SINGAPORE (AFP): The United States must act quickly to help Southeast Asia out of economic turmoil because the region's potential for growth was still strong, U.S. ambassador Steven Green said yesterday. "The current statistics clearly point to the potential," he said at the 25th annual general meeting of the American Chamber of Commerce in Singapore.

Streamlining the bureaucracy

Streamlining the bureaucracy According to Minister of Industry and Trade Mohamad "Bob" Hasan, the government intends to revamp port bureaucracies in order to facilitate import and export procedures. "Red tape at ports must be eliminated. Things must not be made difficult for incoming ships," the minister said earlier this week. An overhaul of port bureaucracies will expedite incoming and outgoing traffic and smooth port procedures, he said.