Indonesian Political, Business & Finance News

Archive: 1 June 1998

49 articles found

Korean, local killed in car crash in East Jakarta

Korean, local killed in car crash in East Jakarta JAKARTA (JP): A Korean and an Indonesian were killed when their car collided with a truck in Cawang, East Jakarta, early Saturday, hospital sources said. Another three Koreans, identified only as Soon, Rhe and Lee, were critically injured and were treated at the Indonesian Christian University (UKI) hospital at Cawang. The dead were identified as Lee Euw Sam, 36 and the car driver, Saiman Basri, 43.

Predicting the shape of our future politics

Predicting the shape of our future politics By Mochtar Buchori JAKARTA (JP): The departure of Soeharto as Indonesia's president will likely be followed by the emergence of new political forces and the decline of old established ones. To use the famous terminology of the late president Sukarno, the New Emerging Forces (Nefos) will be in the ascent, and the Old Established Forces (Oldefos) will be on the descent.

WHO office in blood drive

WHO office in blood drive JAKARTA (JP): The World Health Organization (WHO) in Indonesia is holding a blood donation campaign here on Thursday, targeting office workers in the Jl. Sudirman area. The campaign will be held at Wisma GKBI building at between 9 a.m. and 1 p.m. It is jointly organized by the WHO office, Jakarta chapter of the Indonesian Red Cross, Rio Tinto foundation, Coca Cola and the management of the Wisma GKBI building.

Depending too much on technology is not good

Depending too much on technology is not good By Hanny Agustine JAKARTA (JP): The banking industry, a sector most affected by the economic turmoil, suffered further when more than 500 bank offices were damaged or burned down in the recent riots. Angry mobs rampaged and burned not only the buildings, but also ATMs. Bank Central Asia, the biggest private bank in the country, was a major target. Almost 150 ATMs and 122 branch offices were rampaged, looted and/or burned down.

'Tempo', 'DeTik' set to restart publication

'Tempo', 'DeTik' set to restart publication JAKARTA (JP): Journalists from the banned newsweeklies Tempo and DeTik have seized on rejuvenated freedoms of expression by announcing their intention of reestablishing the publications despite financial constraints. DeTik, published in tabloid format, may be back on newsstands within two weeks. Tempo magazine is expected to republish in a revised format in six months.

Where to go in Jakarta:

Where to go in Jakarta: Exhibitions * Art Exhibition by Sixteen Female Artists, at the Regent Jakarta, Main Lobby, Jl. H.R. Rasuna Said, South Jakarta (Phone: 2523456), until June 20. * Art Exhibition: Graphical Works of Art by W.O.J Nieuwenkamp, at Erasmus Huis, Jl. H.R. Rasuna Said, Kav S-3, Kuningan, South Jakarta (phone: 5252321,5250571), until June 7. * Art Exhibition: Voices of Disappearing Harmony; Dayak, Asmat and Dani Visitors, at CCF - French Cultural Center, Jl.

Reform starts with oneself

Reform starts with oneself From Pikiran Rakyat For months, students and lecturers have voiced demands for reform at many universities. The ramifications are heard throughout Indonesia and even the entire world. Demands comprise economic, political and legal reforms, and also a change in the national leadership. Now, Soeharto has resigned as president, a noble attitude of a superior statesman in the country's interest. We will always remember and appreciate his great achievements.

National park faces new threat

National park faces new threat SAMARINDA, East Kalimantan: After the forest fires, the 200,000-hectare Kutai National Park is now facing a new threat: a coal mining company is to exploit the lowland rain forest reserve area. The Environmental Impact Management Agency's provincial head, Awang Farouk Ishak, said PT Tambang Damai Mining has secured a license to exploit some 100,000 hectares of the park.

Japan traders to back RI

Japan traders to back RI TOKYO (Nikkei): Major Japanese trading houses plan to shore up operations in Indonesia, where their joint ventures with local concerns are experiencing difficulties raising funds due to disorder on local financial markets and reluctance by European and U.S. financial institutions to extend loans, the Nihon Keizai Shimbun reported in its Saturday morning edition. The trading houses believe that Indonesia's economy will stabilize gradually, as new President B.J.

High tide leave 400 homeless

High tide leave 400 homeless PADANG, West Sumatra: High tides hitting two coastal villages in Padang Utara over the past 10 days have left at least 400 people homeless. Most of the villagers of Ujung Karang and Lolong have been forced to take shelter with relatives in the safest nearby areas, Antara reported. Padang Mayor Zuiyen Rais said 110 houses were destroyed, paralyzing the local economy in the villages. There was no immediate report of casualties.

Sixteen arrested in drug orgy in Tanah Abang

Sixteen arrested in drug orgy in Tanah Abang JAKARTA (JP): Police arrested 16 alleged drug traffickers and users in a raid Friday at a boarding house on Jl. Kebon Sayur, Tanah Abang, Central Jakarta. "Some of them were heavily stoned when the police arrived. They were having a heroin party", said Capt. Sigit, the head of Tanah Abang Police subprecinct.

Danareksa tops bond trading

Danareksa tops bond trading JAKARTA (JP): State owned PT Danareksa Sekuritas has been named the best member of the Surabaya Stock Exchange (SSX) for its marked achievement in bond trading in 1997. The SSX said Saturday that PT Bahana Sekuritas came second and PT Peregrine Securities third for their high transaction volumes. Danareksa's bond transaction value last year topped Rp 1.46 trillion (about US$140 million), a surge of 109 percent from Rp 700.66 billion.

Three students still missing

Three students still missing BOGOR (JP): Six out of nine Djuanda University students who were reported missing after police raided their campus on May 9 returned last week, a media report said Saturday. The university's crisis center said it was looking into the whereabouts of the remaining three, but those who had reappeared were remaining tight-lipped and would not talk about their experiences, Antara reported.

Kaspari's IBF title hopes dashed by American Austin

Kaspari's IBF title hopes dashed by American Austin LAS VEGAS (Reuters): American Tim Austin retained his International Boxing Federation bantamweight title on Saturday when referee Mills Lane stopped the scheduled 12-round bout with Adrian Kaspari of Indonesia in the third round. Playing the undercard to the World Boxing Association junior middleweight championship bout, Austin floored Kaspari at 1:57 of the third with a left to the head of the Indonesian.

AAL exports tea to India

AAL exports tea to India JAKARTA (JP): Publicly listed plantation firm PT Astra Agro Lestari (AAL), a subsidiary of the country's largest automaker PT Astra International, announced Saturday that it had exported nine metric tons of black tea worth US$18,474 to India. The company said its black tea exports comprised 3.7 tons of Broken Orange Peko (BOP) grade, two tons of Broken Orange Peko Fanning and 3.3 tons of Broken Tea grade.

RI political risk cover evaporates

RI political risk cover evaporates SINGAPORE (Reuters): Political risk to business deals is at its height in crisis-hit Indonesia, but insurance cover for exposure to it has vanished in the wake of economic and social turmoil that led to the ouster of its former president. Capacity for new risks began to dry up when Indonesia called late last year for a US$41.2 billion dollar bailout from the International Monetary Fund, and had almost entirely evaporated by the time President B.J.

ANZ says Asian exposure will decrease over time

ANZ says Asian exposure will decrease over time SYDNEY (Reuters): Australia and New Zealand Banking Group Ltd (ANZ), the Australian bank most exposed to Asian lending, said yesterday it expected its exposure to the economically troubled region to drift downwards over time. ANZ chief executive John McFarlane told the Nine Network's Business Sunday program the bank's previous exposure to Asia of over US$11 billion had been too high.

Photo finish

Photo finish During Jakarta's time of crisis, I had to visit Singapore. I purchased a Kodak DC25 Digital Camera to be able to take digital photographs instead of relying on currently high priced film developing. Due to fires and ransacking of buildings, the camera was unobtainable in Jakarta. Unfortunately, the camera broke down due to a minor fault. Personal calls to both local Kodak agents, PT Inter-Delta and PT Machindo, were unfruitful because the camera had been purchased in Singapore.

Heart failure caused death of Lt. Dadang: Doctor

Heart failure caused death of Lt. Dadang: Doctor JAKARTA (JP): A forensic expert has determined that a police intelligence officer, reportedly stoned to death by students during a demonstration at Juanda University campus in Bogor last month, died of a heart attack. Yuli Budiningsih of the Indonesian Red Cross (PMI) Bogor Hospital confirmed yesterday that Second Lt. Dadang Rusmana's death on May 9 was due to a coronary. "We did not find any bruises on the back of his head.

3,000 lose jobs after Bekasi riots

3,000 lose jobs after Bekasi riots BEKASI (JP): Some 3,000 people lost their jobs here in the wake of the massive rioting on May 14 because their places of work were wreaked or burned down, an official said over the weekend. They bring the number of people who have lost their jobs since the economic crisis began last July to over 16, 400, said R. Abdullah, secretary of the Bekasi All-Indonesia Workers Union Federation.

Talisman to return to RI

Talisman to return to RI CALGARY (Dow Jones): Talisman Energy Inc (TLM) said its employees are currently returning to work in Jakarta. As reported May 19, Talisman said it had temporarily evacuated all expatriate family members and most expatriate employees from its Indonesian operations in connection with the political unrest in Indonesia, but maintained a small management group there in a safe place.

Miner appeal for help to ease poverty

Miner appeal for help to ease poverty MELBOURNE (Reuters): The world's biggest miner, the Rio Tinto group, has appealed for help to ease poverty around two Indonesian mines. Rio Tinto chief executive Leon Davis said the company was appealing to non-government aid agencies to help address the social fallout of Indonesia's shattered economy.

Hard landing for Asia as growth skids

Hard landing for Asia as growth skids SINGAPORE (Reuters): Economic growth across Asia is grinding to halt as the after-shocks of last year's currency crisis hit across the region, and economists are slashing forecasts for gross domestic product (GDP) on a regular basis. An expected export boom has not materialized, even though Asian goods are much more competitive abroad given the 15 to 80 percent drop in value of regional currencies from pre-crisis levels.

TV today

TV today TVRI 2:00 p.m. News: Berita 14 2:35 TV Series: The Big Valley 3:05 Management Program: Kiat Manajemen 3:30 TV Drama: Asa yang Tersisa 4:00 Regional News 4:30 Creative Program: Karya Kita 5:00 Indonesian Lessons 5:30 Education Quiz: Tangkas Cermat 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 Teen Quiz: Gita Remaja 8:00 News: Lintasan Berita 8:05 Variety Show 8:30 Religious Teachings: Hindu 9:00 World News 9:35...

Roots of anti-Chinese sentiment

Roots of anti-Chinese sentiment By Onghokham JAKARTA (JP): The Indonesian Chinese, as they are referred to, are an important element among Indonesia's middle and upper class capitalists, entrepreneurs, business people, traders, professionals and skilled people. It should not be forgotten that although there are also poor Chinese, seven or eight of the top 10 capitalists in Indonesia are of Chinese origin. On the list of the 200 richest people in the country over 50 percent are Chinese.

Wait and see for island prisoners

Wait and see for island prisoners CILACAP, Central Java: Nusakambangan Island penitentiary head, Soepardi, said he does not expect the 10 political prisoners on the island to be released anytime soon. Soepardi told The Jakarta Post yesterday that those serving time on the island have been charged with "pretty heavy crimes", such as being involved in an armed rebellion in Lampung. However, he did not close the possibility of it happening, especially under the current climate of reform.

Bulog accused of collusion

Bulog accused of collusion JAKARTA (JP): The head of Jakarta's Organization of Land Transportation Owners, Aip Sjaifudin, has accused the State Logistics Agency (Bulog) of colluding with middle men in arranging the transportation of foodstuffs. Aip told of a deal between Organda and Bulog which went sour in April when the latter failed to pay the full rental for the 200 or so hired trucks as agreed.

Bureaucrats, ABRI 'must not sit in MPR'

Bureaucrats, ABRI 'must not sit in MPR' JAKARTA (JP): United Development Party (PPP) chairman Ismail Hasan Metareum said over the weekend that cabinet ministers, governors and Armed Forces (ABRI) leaders should no longer be recruited as members of the People's Consultative Assembly (MPR). Addressing the opening of PPP's leadership meeting at the party's secretariat on Jl.

Can religion and politics meld in party platform?

Can religion and politics meld in party platform? JAKARTA (JP): Soeharto's resignation from the presidency last month threw the door wide open for greater political expression, and also put back on the front burner a long-simmering debate over whether there should be religion-affiliated political parties. Last week, President B.J.

Campus student organizations get greenlight for autonomy

Campus student organizations get greenlight for autonomy JAKARTA (JP): New Minister of Education and Culture Juwono Sudarsono has said student organizations will no longer have to fall in line with the dictates of university rectors. "Student organizations will be independent. They will no longer depend on rectors but on the higher learning institution's academic values," he said after the transfer of job ceremony from his predecessor Wiranto Arismunandar here last Thursday.

RI war, strike premiums cut

RI war, strike premiums cut LONDON (Dow Jones): The London-based War Risks Rating Committee has reduced its insurance rating for Indonesia on which war and strike risk premiums are payable effective 1600 GMT Friday, WRRC announced Friday. The WRRC has lowered its basic recommended surcharges in Indonesia to 0.3 from 0.375 for category B, to 0.3275 from 0.4025 for category D, and to 0.325 from 0.4 for category E.

Historic turning point

Historic turning point The last few weeks represent what in my mind is a historic turning point for Indonesia and something of a coming of age for this young nation. The leadership shown from such diverse people as Gen. Wiranto and Dr. Amien Rais, and the fact that their voices of moderation won the day is, I believe, a real triumph. It augurs well for democracy and a political culture of openness, dialog and compromise in the future.

An appeal to the IMF

An appeal to the IMF Indonesia's economic condition has reached a most precarious point. The sorry state of our economy is reflected in the inadequacy of our foreign exchange reserves and in the disarray that exists in our services, production, investment and distribution sectors. Our national food stocks will only last a few more months. Clearly, such dire conditions call for the greatest care in what we say and do. One wrong step, however small, may jeopardize the disbursement of aid.

What press freedom means

What press freedom means Minister of Information Yunus Yosfiah has promised to return what the Soeharto regime stole from the national press: its freedom. The statement, which is in line with the promised political reform, brings with it a new horizon for the national press after decades of structural darkness.

Deserted ships block harbor

Deserted ships block harbor AMBON, Maluku: Port officials are still unable to remove four crippled and deserted South Korean fishing boats which have been lodged in front of Ambon harbor for a week, Antara reported. Indonesian port official Ibrahim Pesiwarissa said the four vessels were blocking much of the port's normal activities, which include loading and unloading cargo along with supplying ships with fuel and water.

Stop collusion in awarding projects, councilors say

Stop collusion in awarding projects, councilors say JAKARTA (JP): Councilors and a contractor urged the city administration Saturday to stop the rampant collusion, corruption, cronyism and nepotism in the awarding of its development projects. They argued that the time had come for the administration to promote clean governance in line with the growing spirit of political and economic reforms.

Stock market remains gloomy despite hopes

Stock market remains gloomy despite hopes JAKARTA (JP): Trading on the Jakarta Stock Exchange (JSX) is expected to remain sluggish this week, despite hopes that Indonesia will soon receive the next tranche of aid from the International Monetary Fund (IMF) rescue package, stock analysts said.

Riot victims find it hard to rebuild business

Riot victims find it hard to rebuild business By Stevie Emilia JAKARTA (JP): The sky over the city is blue once again. There is no more gray smoke rising from burning shops, houses and offices as was the case during the recent riots. But grief still hangs in the air. It is as black as the gutted remains of buildings, silent witnesses to the looting and burning of more than 5,000 shops and malls. Most of the property belonged to Indonesians of Chinese descent.

Student protests go on in several cities

Student protests go on in several cities JAKARTA (JP): Students in several cities, in a move resembling their colleagues' stand in Jakarta recently, are occupying local legislative councils to make their demands heard. While those in Jakarta took over the House of Representatives/People's Consultative Assembly building in order to press former president Soeharto to resign, those in Jambi have been occupying the provincial legislature and governor's office in their fight against rampant gambling.

Playwood exports expected to decline 25% in 1998

Playwood exports expected to decline 25% in 1998 JAKARTA (JP): Indonesia's foreign exchange earnings from plywood exports is expected to fall by 25 percent this year to about US$2.6 billion from $3.58 billion last year, the Association of Indonesian Wood Panel Producers (Apkindo) said Saturday. Apkindo chairman Abbas Adhar said yesterday the lower estimate was partly due to a 20 percent fall in export volume, caused by sluggish demand and a reduction in production.

How monetary crisis affects East Nusa Tenggara people

How monetary crisis affects East Nusa Tenggara people By Yacob J. Herin MAUMERE, East Nusa Tenggara (JP): As a result of the monetary crisis the prices of goods, particularly imported ones, have soared. In a situation like this, wearing imported clothes has definitely become a luxury. However, clothes imported from Singapore sell very well at traditional markets here. No wonder, they are second hand. A used T-shirt, that would cost Rp 25,000 (US$2.40) new, is obtainable for Rp 7,500.

Shareholders' meetings

Shareholders' meetings In the present atmosphere of reform, Indonesia's mass media have been carrying advertisements about schedules of shareholders' general meetings. It may not be far wrong to assume that these advertisements are placed by companies belonging to family members of former president Soeharto and also to business tycoons allegedly enjoying facilities extended by officials in the old regime. Why have these companies decided to hold these meetings so suddenly?

Amien calls for end to political wrangles

Amien calls for end to political wrangles JAKARTA (JP): Moslem leader Amien Rais has spoken out against allowing sharp political wranglings to drag on and has called on the nation to take concrete steps to repair its economy, which was now on the brink of bankruptcy. Amien also appealed for a stop to debates on the legitimacy of President B.J. Habibie's appointment and for a chance for the new government to function normally to take steps to restore the economy.

Property projects put on hold as crisis worsens

Property projects put on hold as crisis worsens JAKARTA (JP): Economic and political uncertainty in the country has put more commercial property projects on hold in the second quarter of this year, according to property consultants First Pacific Davies Indonesia (FPDI). The company said that many projects stopped as economic and political uncertainty mounted.

Krakatau 1998 festival canceled

Krakatau 1998 festival canceled BANDARLAMPUNG, Lampung: The provincial administration has decided to cancel the 1998 Krakatau Festival because of a lack of funds, a tourism official has said. "We have informed foreign participants about the cancellation and they have accepted it," local tourism service chief Tarmizi Ali said Saturday. The festival, which would have featured local arts and culture events, had originally been included in the national calendar of tourism events.

Dual function of the Armed Forces

Dual function of the Armed Forces As Indonesians intensify their demands for total reform in all areas in the wake of Soeharto's resignation, pure democracy based on Pancasila and the Constitution of 1945 must be implemented. This will involve limiting the role of the Armed Forces in order that nobody gets the impression that the country is ruled in an authoritarian or totalitarian manner by the power holder.

Let students participate in reform process

Let students participate in reform process By Johannes Nugroho JAKARTA (JP): Soeharto's resignation from his previously invincible presidency was a momentous turning point in Indonesian history. B.J. Habibie, formerly Vice President, acceded to the office, leading what is necessarily, by the supreme command of the people of Indonesia, a transitional government. The inevitable demise of the seemingly perennial ruler stunned the populace into a contemplative combination of joy and pondering.

Dengue fever cases begin downward trend

Dengue fever cases begin downward trend JAKARTA (JP): A predicted dengue fever outbreak peak, which was expected to happen in May or June, will unlikely be realized as number of sufferers has sharply decreased, an official said yesterday. The City Health Office's public relations department head, Maryani, said the number of dengue fever patients in the city as of May 31 reached only 1,700, a sharp drop compared to 6,600 as of the end of April.

Investors seek new partners as Soeharto backlash grows

Investors seek new partners as Soeharto backlash grows JAKARTA (JP): The growing attack on the business interests of the Soeharto clan and their cronies will force foreign investors to abandon partnerships which link them to the beleaguered family, but obvious replacements have yet to emerge from the country's political uncertainty, analysts said.