Archive: 17 June 1998
55 articles found
Wed, 17 Jun 1998, 00:00 WIB
Book bazaar at Utan Kayu planned
Book bazaar at Utan Kayu planned JAKARTA (JP): A month-long book bazaar will be held at the Utan Kayu community parking lot, Jl. Utan Kayu No. 68H, East Jakarta, from July 1. The bazaar is being organized by the Teater Utan Kayu committee and will feature novels and other human-oriented reading material. The committee has called for people to donate books and novels, particularly contemporary titles, from June 22 to June 26. Books will be sold at low prices.
Wed, 17 Jun 1998, 00:00 WIB
Habibie to open contest
Habibie to open contest DENPASAR, Bali: President B.J. Habibie is expected to open the national selection of finalists for the 13th Koran Reading Contest (STQ) here on June 27. Bali deputy governor Ahim Abdurahim, who is also chairman of the contest's organizing committee, said yesterday that the event would be held in the Ngurah Rai Sports Stadium from June 27 to July 3. Up to 14 contestants from each of the country's 27 provinces are expected to participate.
Wed, 17 Jun 1998, 00:00 WIB
Rupiah breaks 15,000 barrier as stocks decline
Rupiah breaks 15,000 barrier as stocks decline JAKARTA (JP): The rupiah broke psychologically important level of Rp 15,000 against the U.S. dollar yesterday as local stock prices lost 1.7 percent over persistent domestic economic and political uncertainty and a bearish regional market. Currency dealers said the rupiah, which opened at Rp 14,600/700, touched the day low of Rp 15,200 in early trading but recovered slightly in the afternoon to close at Rp 15,100.
Wed, 17 Jun 1998, 00:00 WIB
Laverton enters Sumatra
Laverton enters Sumatra PERTH (Reuters): Laverton Gold NL said yesterday it has reached a memorandum of understanding giving Weston Investments Ltd a 50 percent interest in its Rawas gold mine in South Sumatra, Indonesia. Weston is a subsidiary of Consolidated African Mines Ltd of South Africa. Laverton said the agreement would require approval from shareholders and the South African Reserve Bank. The Rawas mine currently produces about 100,000 ounces of gold a year.
Wed, 17 Jun 1998, 00:00 WIB
Garuda to divest from subsidiaries
Garuda to divest from subsidiaries JAKARTA (JP): National flag carrier Garuda Indonesia plans to divest from all of its subsidiaries in order to focus on its air transportation business, the airline's new boss said here yesterday. Robby Djohan, Garuda's new president, said the ailing airline was prepared to do anything it had to to lift itself out of its financial troubles.
Wed, 17 Jun 1998, 00:00 WIB
Senior Minister Lee blasts Asian leaders
Senior Minister Lee blasts Asian leaders SINGAPORE (AP): The Asian financial crisis would have been much milder if Thai, Malaysian and Indonesian leaders understood how quickly markets act on their words, Singapore's most prominent politician told Newsweek magazine.
Wed, 17 Jun 1998, 00:00 WIB
Regions warned of La Nina-induced floods
Regions warned of La Nina-induced floods JAKARTA (JP): Large areas of the country must beware of La Nina-induced floods predicted for later this year, head of the National Search and Rescue Agency (Basarnas) (ret.) Commodore Harinto warned yesterday. Speaking to reporters in the Southeast Sulawesi capital of Kendari, Harinto said every province and regency must anticipate the imminent threat of floods.
Wed, 17 Jun 1998, 00:00 WIB
Soedjono's dismissal puzzles legal profession
Soedjono's dismissal puzzles legal profession JAKARTA (JP): Prominent legal practitioners and observers expressed a degree of suspicion yesterday over the sudden dismissal of the attorney general and questioned the motive for making a military officer the country's top prosecutor. Their views ranged from calls for an open explanation into the matter to suggestions that the move may have been linked to the Attorney General's Office investigation into corruption under former president Soeharto.
Wed, 17 Jun 1998, 00:00 WIB
Malaysia to buy stake in Bank Muamalat
Malaysia to buy stake in Bank Muamalat JAKARTA (JP): Malaysian Deputy Prime Minister Anwar Ibrahim promised President B.J. Habibie yesterday that Malaysia would purchase a 49 percent stake, worth US$15 million, in Indonesia's only Islamic bank, Bank Muamalat Indonesia. The chairman of the Indonesian Ulemas Council (MUI), Hasan Basri, said the agreement was reached during a telephone conversation between the two leaders yesterday morning.
Wed, 17 Jun 1998, 00:00 WIB
Nonperforming loans soar to 25%
Nonperforming loans soar to 25% JAKARTA (JP): Banks' nonperforming loans at the end of April jumped to 25 percent of outstanding credit from 10 percent at the end of April last year due to the monetary crisis, Bank Indonesia Governor Sjahril Sabirin said yesterday.
Wed, 17 Jun 1998, 00:00 WIB
PAP II's staff stage another rally
PAP II's staff stage another rally TANGERANG (JP): Two thousand employees of state airport management company Perum Angkasa Pura (PAP) II staged a second rally to demand complete reform of the management at the companies headquarters at Soekarno-Hatta International Airport yesterday.
Wed, 17 Jun 1998, 00:00 WIB
Foreigners flock to Maluku
Foreigners flock to Maluku AMBON, Maluku: Amid worries that tourism in many parts of the country is in decline, officials here proudly announced yesterday that tourist arrivals in the first four months of the year had nearly doubled compared to the same period last year.
Wed, 17 Jun 1998, 00:00 WIB
Govt urges talk over PAL strikes
Govt urges talk over PAL strikes MANILA (Reuters): The government urged talks yesterday to avert a general stoppage at Philippine Airlines after ground and cabin crews threatened strikes over the airline's sacking of more than a third of its workforce. An industry source said more jobs at financially troubled PAL could go and that the airline had warned its creditor banks it might not be able to service its debts, estimated to be at least $1.5 billion, after this month.
Wed, 17 Jun 1998, 00:00 WIB
KL concerned over Hanson's rise
KL concerned over Hanson's rise KUALA LUMPUR (DPA): Malaysia voiced concern yesterday over rising anti-Asian sentiment by Australians who support right-wing independent legislator Pauline Hanson, saying Canberra's ties with Asian nations could be soured. Foreign Minister Abdullah Ahmad Badawi said that although Hanson's policies were not shared by most Australians, "what's worrying is whether there will be more Australians supporting her politics.
Wed, 17 Jun 1998, 00:00 WIB
Stabilization of CPO prices
Stabilization of CPO prices From Ekonomi Neraca In line with the government's effort to expand oil palm estates managed by both the private sector and the government, the production of crude palm oil (CPO) is increasing with each passing year. Palm oil production in 1994 stood at 4.3 million metric tons. It continued to increase in the coming years as follows: 4.5 million tons in 1995, 4.9 million tons in 1996 and 5.4 million tons in 1997. The production level in 1998 is estimated to stand at 5.
Wed, 17 Jun 1998, 00:00 WIB
Govt needs Rp 2 trillion in rice drive
Govt needs Rp 2 trillion in rice drive JAKARTA (JP): The government will need Rp 2 trillion (about US$142.85 million) in this year's rice planting season if it is to boost production of the country's favorite food, a minister said yesterday. Minister of Agriculture Soleh Solahuddin said that Rp 2 trillion was needed to finance the rice intensification program, which includes provisions for expanding rice production and procuring fertilizers and farming equipment.
Wed, 17 Jun 1998, 00:00 WIB
Sentosa reports losses
Sentosa reports losses SURABAYA (JP): Publicly listed PT Trias Sentosa reported a net loss of Rp 24.67 billion (about US$1.76 million) last year compared to a net profit of Rp 31.10 billion in 1996. Company director Yamin Chandra said the loss was attributed to a foreign exchange loss of Rp 54 billion due to the rupiah's sharp depreciation against the U.S. dollar.
Wed, 17 Jun 1998, 00:00 WIB
Multipolar-Wal-Mart suit
Multipolar-Wal-Mart suit OAKLAND, California (AP): An Indonesian company, ordered by a federal judge to halt its suit against Wal-Mart by Monday or face fines of US$10,000 a day, has told the judge it needs more time to comply, a Wal-Mart lawyer said. In a court declaration, a local lawyer for Multipolar Corp.
Wed, 17 Jun 1998, 00:00 WIB
Legislators back retenders on pacts with Soeharto clan
Legislators back retenders on pacts with Soeharto clan JAKARTA (JP): Legislators have backed the government's decision to retender contracts held by family and friends of former president Soeharto for shipment of state oil and gas company Pertamina's products. Djusril Djusan and Priyo Budi Santoso, both of the ruling Golkar functional group, called yesterday for Pertamina to conduct the retendering as soon as possible.
Wed, 17 Jun 1998, 00:00 WIB
Amtek, Unitech buy RI unit
Amtek, Unitech buy RI unit SINGAPORE (Reuters): Singapore Precision metal parts maker Amtek Engineering Ltd said yesterday it and subsidiary Unitech Holding Pte Ltd now own 100 percent of Indonesia's PT Amtek Sanwa Industries (ASI). Amtek Engineering said in a statement it had bought the remaining 25 percent stake in ASI from minority shareholders. Before the acquisition, ASI was a 75 percent-owned subsidiary of Unitech, an investment holding company.
Wed, 17 Jun 1998, 00:00 WIB
Security of contracts
Security of contracts Anger at revelations of wealth accumulated by those close to former president Soeharto during his time in office, and the nationwide clamor to root out corruption which this has prompted, has led many government agencies and state companies to announce a review of all contracts concluded with companies linked to the extended Soeharto clan.
Wed, 17 Jun 1998, 00:00 WIB
Conversion Rates
Conversion Rates JAKARTA (JP): Bank Ekspor Impor Indonesia's (Bank Exim) indicative conversion rates on June 16, 1998: Buying Selling Rp Rp U.S.
Wed, 17 Jun 1998, 00:00 WIB
Inkud complains it overpaid for Goro chain deal
Inkud complains it overpaid for Goro chain deal JAKARTA (JP): The Confederation of Primary Cooperatives' Association (Inkud) paid far too much to take over the wholesale chain Goro from companies linked to former president Soeharto's children, an association executive said yesterday. Speaking at a hearing at the House of Representatives, Inkud's newly appointed president Nurdin Halid said that the Rp 140 billion (US$9.3 million) deal was almost twice what Goro's total assets were worth.
Wed, 17 Jun 1998, 00:00 WIB
Year of Tiger: Year of Recession
Year of Tiger: Year of Recession By Beth Duff-Brown KUALA LUMPUR, Malaysia (AP): The Year of the Tiger, according to Chinese superstition, can bring ferocious upheaval. Six months into this tiger year, the once roaring Asian economies have experienced plenty of that. Several have fallen deeper into recession, a half dozen are slumping in that direction.
Wed, 17 Jun 1998, 00:00 WIB
Police concerned about protests
Police concerned about protests JAKARTA (JP): National Police chief Gen. Dibyo Widodo expressed concern over the number of protests breaking out in many cities as an actualization of the demand for reform. It is feared that the protests, which have been accompanied by burning and destruction, will affect security, he said in his final lecture to cadets of the Police Academy in South Jakarta on Monday night.
Wed, 17 Jun 1998, 00:00 WIB
Electoral official jailed for graft
Electoral official jailed for graft KENDARI, Southeast Sulawesi: Kendari District Court sentenced the former treasurer of the Kendari electoral committee, Abdulah Martha, to five years in jail for embezzling Rp 186 million (US$12,400) of the Rp 518 million 1997 general election funds. Presiding judge Saijah also fined Abdullah Rp 5 million and ordered him to return Rp 150 million to the state. His property and car were also seized.
Wed, 17 Jun 1998, 00:00 WIB
Bureaucratic corruption
Bureaucratic corruption In the drive to eradicate corruption, proponents of reform seem to be focusing exclusively on our governing and business elite. However, it should not be forgotten that bureaucratic corruption involving even the lowest ranking civil servants is equally entrenched. Civil service corruption, disdain for the public and bullying from officialdom has been perfected to an art form in our country.
Wed, 17 Jun 1998, 00:00 WIB
Act in the name of reform
Act in the name of reform From Sinar Pagi I agree with Jati Hartana's opinion (Sinar Pagi, May 21) that many people now act in the name of reform but actually do so out of self-interest. They may be opportunists. I prefer to refer to them as "advertising reformists". As such they offer goods and services with the objective to gain a profit.
Wed, 17 Jun 1998, 00:00 WIB
Talks on climate highlight loopholes
Talks on climate highlight loopholes By Alexander Hagelueken BONN (DPA): What with forest fires in Indonesia and flooding in the United States, there has been no lack of climate phenomena in recent months. What has been lacking, and strikingly so, has been protection from man-made climate changes, which has played little or no part in the debate. The Kyoto earth summit left behind a pleasant sensation that the nations of the world were finally gearing up to do something about global warming.
Wed, 17 Jun 1998, 00:00 WIB
Wanted banker falls to his death
Wanted banker falls to his death JAKARTA (JP): A former chief commissioner of privately run Bank Perniagaan, Hindoro Budianto, 52, reportedly fell to his death Monday from the eighth floor of Hotel Marbela in Anyer, West Java. Hindoro was allegedly connected to a bank scandal involving hundreds of billions of rupiah and has been on the police's most wanted list since 1997. The Jakarta Police, which had been in charge of tracking him down, became aware of his whereabouts Sunday, Lt. Col. E.
Wed, 17 Jun 1998, 00:00 WIB
SE Asian currencies gain on yen's surge
SE Asian currencies gain on yen's surge SINGAPORE (Dow Jones): Southeast Asian currencies, with the notable exception of Indonesia's rupiah, rose yesterday as the U.S. dollar hit a wall against the Japanese yen in early Asian trading. The dollar capped a weeks-long surge against the yen at 146.70 as the market opened in Tokyo, but massive dollar sales, reputedly by U.S. funds, sent the dollar plunging nearly four yen, or more than 2.6 percent, to 142.80 in a span of less than three hours.
Wed, 17 Jun 1998, 00:00 WIB
Soeharto's wealth
Soeharto's wealth An important dimension has emerged in the reform tide and is now taking an increasingly clearer shape. It concerns the wealth of our high-ranking government officials. At the present stage, the basic concern is to clear up the question of former president Soeharto's alleged wealth but the possibility cannot be ruled out that Soeharto's subordinates will be made to share the spotlight in the future.
Wed, 17 Jun 1998, 00:00 WIB
Army officers testify police shot at students
Army officers testify police shot at students JAKARTA (JP): Two military officers and three witnesses from Trisakti University who yesterday gave evidence to the military tribunal investigating the May 12 incident stated that it was the police who fired shots at demonstrators.
Wed, 17 Jun 1998, 00:00 WIB
Group urges govt to adjust CPO exports to forex
Group urges govt to adjust CPO exports to forex JAKARTA (JP): The government should replace the 40 percent tax on crude palm oil (CPO) exports with a foreign exchange ruling to encourage exporters to sell the commodity on the domestic market, the Federation of Indonesian Vegetable Oils and Fats Association has said. The federation's vice chairman, Tarmidzi Rangkuti, said yesterday that the export tax on CPO was not an effective way of discouraging producers from exporting their produce.
Wed, 17 Jun 1998, 00:00 WIB
Jakarta Fair to go on despite economic crisis
Jakarta Fair to go on despite economic crisis JAKARTA (JP): The annual Jakarta Fair will be held next month despite the absence of foreign participants and the sad fortunes of local firms, the organizer said yesterday. The month-long fair, to be opened by President B.J. Habibie, is designed to show that business activities are continuing in the capital, said Gito Bantas, president of fair organizer Jakarta International Trade Fair Corporation (JITFC).
Wed, 17 Jun 1998, 00:00 WIB
Local cigarette production to fall
Local cigarette production to fall JAKARTA (JP): The Association of Indonesian Cigarette Producers estimated yesterday that the country's cigarette output and sales would fall between 25 percent and 30 percent this year due to higher prices. Association chairman Ismanu Soemiran said cigarette sales in the domestic market had fallen by 30 percent in the past three months.
Wed, 17 Jun 1998, 00:00 WIB
100 customers protest against developer
100 customers protest against developer TANGERANG (JP): More than 100 customers of the Modernland housing development went to the company's office here yesterday to protest the slow progress of the construction of houses, apartments and shop-houses they had bought. The customers claimed they had paid downpayments on the construction of the properties and some had even paid in cash through banks but the projects apparently ground to a halt in February.
Wed, 17 Jun 1998, 00:00 WIB
Crude trade thin as mart waits for RI
Crude trade thin as mart waits for RI SINGAPORE (Reuters): Prices on the Asian heavy crude market were steady yesterday, but most traders were sidelined as firm information on Indonesian July allocations remained unavailable, traders said. Traders said spot trading was very thin, apart from talk that an early July Bunga Kekwa, offered since last week, was sold at Tapis APPI -$1.95, but that could not be confirmed.
Wed, 17 Jun 1998, 00:00 WIB
Private TV stations want less state intervention
Private TV stations want less state intervention JAKARTA (JP): The owners of private television stations called on the House of Representatives yesterday to review the broadcasting law enacted last year in order to minimize state interference in their operations. Andi Rallie Siregar, president of PT Rajawali Citra Televisi Indonesia which operates RCTI, told a hearing with House Commission I on information that the current law gave the government too much power to regulate commercial stations.
Wed, 17 Jun 1998, 00:00 WIB
Rice distribution system 'should be streamlined'
Rice distribution system 'should be streamlined' JAKARTA (JP): A city councilor has underlined the importance of cutting the lengthy rice distribution chain to help reduce the price of the essential commodity. Djafar Badjeber of Commission B for economic affairs said on Monday that market cooperatives should buy rice from Jakarta branches of the National Logistics Board (Dolog) or directly from producers themselves to streamline the distribution chain.
Wed, 17 Jun 1998, 00:00 WIB
Nippindo's monopoly weakens
Nippindo's monopoly weakens OSAKA, Japan (Dow Jones): Recent political and economic changes in Indonesia are weakening Nippindo Co.'s virtual monopoly on plywood imports from the Southeast Asian country, the Nihon Keizai Shimbun said in its yesterday morning edition. An increasing number of traders are buying plywood directly from local companies, and these now account for 10-20 percent of total imports, industry observers said.
Wed, 17 Jun 1998, 00:00 WIB
Stock Exchange
Stock Exchange Stock prices on the Jakarta Stock Exchange (in rupiah) on June 16, 1998: Shares Close Change Trading Volume ------------------------------------------------------------ Ades Alfindo 450 0 0 AHAP Insurance 575 0 0 Alter Abadi 500 0 291,000 Alumindo Light Metal 300 -75 7,500 Alumindo Perkasa 200 0 0 Aneka Kimia Raya 150 -50 123,000 Aneka Tambang 1,425 -50 1,874,500 Anwar Sierad 100 -25 10,000 Apac Centertex Corp.
Wed, 17 Jun 1998, 00:00 WIB
Chinese-Indonesian man stands up to be counted
Chinese-Indonesian man stands up to be counted By T. Sima Gunawan JAKARTA (JP): If you are an Indonesian of Chinese descent, you know from experience to keep a low profile. Being recognized for your ancestry is the last thing you want. Chinese-Indonesians have long been discriminated against and borne the brunt of resentment as scapegoats.
Wed, 17 Jun 1998, 00:00 WIB
BI's claims from troubled banks drop
BI's claims from troubled banks drop JAKARTA (JP): Bank Indonesia (BI) said yesterday that its net claim on the Indonesian Bank Restructuring Agency (IBRA) declined slightly to Rp 131.91 trillion on June 12 from Rp 132.12 trillion the previous week. The slight decline was due to a settlement of obligations by troubled banks under the management of IBRA, the central bank said in a media statement.
Wed, 17 Jun 1998, 00:00 WIB
ASEAN Secretariat holds arts expo
ASEAN Secretariat holds arts expo JAKARTA (JP): An exhibition featuring the region's arts and culture at the ASEAN Secretariat, Jl. Sisingamangaraja, South Jakarta opened on Monday. ASEANA: a showcase of ASEAN Cultures presents the published works of the ASEAN Committee on Culture and Information: books, video and audio tapes, paintings, photographs and handicrafts from ASEAN countries.
Wed, 17 Jun 1998, 00:00 WIB
Sjafrie urges people to shun street rallies
Sjafrie urges people to shun street rallies JAKARTA (JP): Jakarta Military Commander Maj. Gen. Sjafrie Sjamsoeddin urged Jakartans, especially workers, yesterday not to participate in street rallies. Sjafrie made the statement in response to reports that certain parties have tried to encourage workers to go on strike and participate in street rallies to advance the personal interests of the organizers.
Wed, 17 Jun 1998, 00:00 WIB
Pharmacists criticize govt's 'self-dispensing' policy
Pharmacists criticize govt's 'self-dispensing' policy YOGYAKARTA (JP): The Association of Indonesian Pharmaceutical Manufacturers here criticized the government's "self-dispensing" policy, saying it threatened the existence of drug distributors and drugstores. The policy, which will see general practitioners directly provide generic drugs to their patients, has no sound basis if it is meant to help lower the retail prices of generic drugs, according to the association.
Wed, 17 Jun 1998, 00:00 WIB
Proreform leaders must learn to compromise
Proreform leaders must learn to compromise The clock on political reform has been ticking away since the resignation of president Soeharto on May 21. Hermawan Sulistyo, a political researcher at the Indonesian Institute of Sciences and executive director of the Research Institute for Democracy and Peace, discusses what progress has been made. Question: Do you think the progress of political reform has been as fast as expected by students and intellectuals? Answer: No.
Wed, 17 Jun 1998, 00:00 WIB
Time for Golkar to reform itself
Time for Golkar to reform itself By Aleksius Jemadu BANDUNG (JP): As it turns out, the departure of Soeharto has caused major trouble for the dominant party, Golkar. Suddenly, Golkar seems to have a dark future. Problems like disintegration in its traditional constituencies, its seemingly unpreparedness to become a fully independent political party, and Harmoko's ineffective leadership have crippled Golkar's prospect to repeat its success in the coming election.
Wed, 17 Jun 1998, 00:00 WIB
Harmoko says Golkar remains very solid
Harmoko says Golkar remains very solid JAKARTA (JP): Golkar chairman Harmoko asserted yesterday that despite reports of infighting and dissent, the dominant political organization remains very solid and ready to hold an extraordinary congress early next month. Speaking after a plenary meeting of the central board which ended in the early hours, Harmoko said the congress would be held from July 9 to July 11.
Wed, 17 Jun 1998, 00:00 WIB
DHL launches new export service
DHL launches new export service JAKARTA (JP): International air express company DHL Worldwide Express launched a new service yesterday called USA First, for Indonesian exporters to deliver goods to the United States fast and cost-effectively.
Wed, 17 Jun 1998, 00:00 WIB
Lamborghini to cover losses
Lamborghini to cover losses ROME (Reuters): Italian sports car maker Lamborghini SpA, controlled by former Indonesian president Soeharto's son Hutomo Mandala Putra, is to hold a shareholders meeting soon to decide on a reduction of its capital to cover 1997 losses, Italy's Official Gazzette said yesterday.
Wed, 17 Jun 1998, 00:00 WIB
Circle sets up ASPAC unit
Circle sets up ASPAC unit SINGAPORE (Reuters): U.S.-based logistics firm Circle International said yesterday it had set up an automotive logistics division at its Asia-Pacific headquarters in Singapore. "The ASPAC (Asia-Pacific) region provides the largest opportunity for expansion in the automotive logistics business," it said in a statement. "In order to leverage our experience gained in the U.S.
Wed, 17 Jun 1998, 00:00 WIB
Tegal under control after riot
Tegal under control after riot SEMARANG, Central Java: Diponegoro Military Commander Maj. Gen. Tyasno Sudarto claimed yesterday that antiriot forces had successfully restored security and order in Tegal, about 165 kms west of here, after violence erupted in the town Monday. Tyasno said more than 62 shops, three cars, several government offices and banks were burned and looted during the unrest. At least 34 people were seriously injured, including two students and a local reporter.
Wed, 17 Jun 1998, 00:00 WIB
Religious leaders reject parties based on religion
Religious leaders reject parties based on religion JAKARTA (JP): Religious leaders yesterday warned against the formation of new political parties with ethnic or religious orientations, fearing that such organizations could lead to national disintegration. Hasan Basri, chairman of the Indonesian Ulemas Council (MUI), said such new political parties were nominally legal but warned that the use of religious symbols could create a sense of exclusivity and cause tension.