Indonesian Political, Business & Finance News

Archive: 20 June 1998

50 articles found

Iran coach Talebi promises fair play against U.S. team

Iran coach Talebi promises fair play against U.S. team YSSINGEAUX, France (Reuters): Iran coach Jalal Talebi refused to be drawn into debate about the political nature of Sunday's Group F clash with the United States and promised his side would play fair. "If you have political questions I am the wrong man, ask the politicians about those things," Talebi told reporters at a press conference, "I want to talk about football".

PM Mahathir attacks West, denies cronyism, nepotism

PM Mahathir attacks West, denies cronyism, nepotism KUALA LUMPUR (Agencies): Malaysia's prime minister railed yesterday against "foreign powers" he accused of trying to topple him and ruin the country, and he denied that cronyism and nepotism had hurt the economy. Blaming foreign companies for preying on Malaysian companies weakened by the Asian economic crisis, Prime Minister Mahathir Mohamad urged ruling party members at their annual convention to unite against the attacks.

TV today

TV today TVRI 12:15 p.m. World Cup Soccer (rerun) 2:00 News: Berita 14 2:30 Music 2:35 TV Series: The Painted Door 3:05 Children's Program: Duniaku 3:30 Science Film: Ticket to Adventure 4:00 Regional News 4:30 Sports 5:30 TV Series: Science World 6:00 News: Lintasan Berita 6:05 My Country: Rona Nusantara 6:15 Sports News 6:30 TVRI News (in English) 7:00 Evening News 7:35 Saturday Night Music 8:00 News: Lintasan Berita 8:05 Saturday Night Music (contd.) 8:30 News: Majalah Udara 9:00 World News...

Teachers demand improved welfare

Teachers demand improved welfare PEKANBARU, Riau: Hundreds of teachers in the province's Communication Forum for Education Reform staged a demonstration at the provincial council compound here to demand the provincial administration and big companies help improve their welfare. The workers also demanded the administration stop cutting their monthly wages for unreasonable reasons.

Ispat opts to bid for Krakatau Steel

Ispat opts to bid for Krakatau Steel JAKARTA (JP): Netherlands-based Ispat International N.V, which saw its earlier plan to buy a stake in PT Krakatau Steel canceled amid controversy, announced yesterday it would participate in the open bidding process for privatization of the state-owned steelmaker. Ispat's chairman and chief executive officer Lakshmi N. Mittal said the company planned to join other bidders for a stake in Krakatau through a competitive bidding process.

Military chases settlers' killers

Military chases settlers' killers JAYAPURA, Irian Jaya: The military is chasing members of an Irian Jaya separatist group suspected of killing three transmigrants in Arso village recently. Maj. Gen.

Police awaiting postmortem result in burning case

Police awaiting postmortem result in burning case JAKARTA (JP): Tanah Abang police are still awaiting the postmortem and forensic examination reports on a woman who died from severe burns Sunday to decide whether a crime was committed. "There's no significant progress, thus far," the police subprecinct chief Capt. R. Sigit TH told The Jakarta Post yesterday.

Edy to seek contributions clarification

Edy to seek contributions clarification JAKARTA (JP): City Council speaker Edy Waluyo said yesterday he would ask the municipality to clarify a circular requesting 55 city-owned firms to contribute up to Rp 815 million (US$56,500) for the commemoration of Jakarta's 471st anniversary and Indonesia's 53rd Independence Day. Edy said that all the expenditure for the city's anniversary commemoration, which falls on June 22, should come from a fund of Rp 350 million set aside from the city budget.

A question of relevance

A question of relevance As Golkar gears up for its congress, the dominant political group faces major questions about its organization and leadership in this reform era. Most news about Golkar has largely dealt with questions about the candidates to be its next chairman, the breaking away of some of its main affiliates and rumors of frictions between the group's leaders.

Stock Exchange

Stock Exchange Stock prices on the Jakarta Stock Exchange (in rupiah) on June 19, 1998: Shares Close Change Trading Volume -------------------------------------------------------------- Ades Alfindo 450 0 0 AHAP Insurance 575 0 0 Alter Abadi 525 25 434,500 Alumindo Light Metal 300 -25 1,000 Alumindo Perkasa 200 0 0 Aneka Kimia Raya 200 0 33,500 Aneka Tambang 1,450 -25 3,907,500 Anwar Sierad 125 0 1,000 Apac Centertex Corp.

Pittencrieff eyes Sumatra area

Pittencrieff eyes Sumatra area LONDON (Reuters): British oil and gas exploration and production company Pittencrieff Resources Plc announced plans yesterday to acquire two oil interests and raise 44.6 million pounds through a placing and open offer. The company would acquire Novus Petroleum's 3.7 percent working interest in the south east Sumatra production sharing contract in offshore Indonesia for $20 million.

Governor puts this year's development projects on hold

Governor puts this year's development projects on hold JAKARTA (JP): Governor Sutiyoso acknowledged yesterday the city administration would hold off on any development projects in the capital for the remaining nine months of the current 1998/1999 fiscal year due to the limited budget available. With about Rp 1.4 trillion (US$87.5 million) left in the budget, the administration might only be able to work on routine activities, the governor told reporters at the City Hall.

ASEAN to establish fund to fight fires and smog

ASEAN to establish fund to fight fires and smog SINGAPORE (Reuters): Southeast Asia is to set up a special fund to finance the fight against devastating forest fires in Indonesia of the kind that choked the region with smog last year, Singapore's environment minister said yesterday. "We have discussed the concept of an ASEAN fund," Yeo Cheow Tong said at the end of a one-day meeting of environment ministers of the Association of Southeast Asian Nations.

ABRI against comeback of old political forces: Susilo

ABRI against comeback of old political forces: Susilo JAKARTA (JP): The Armed Forces (ABRI) vowed yesterday to prevent any attempt by "old political forces" to make a comeback into the Indonesian political arena. ABRI Chief of Sociopolitical Affairs, Lt. Gen. Susilo Bambang Yudhoyono, said their return would represent a setback for the country.

Free trade, Japan woes on APEC agenda

Free trade, Japan woes on APEC agenda KUCHING, Malaysia (DPA): Trade liberalization and the ailing Japanese economy are set to top the agenda when trade ministers from 18 countries meet in Kuching on Malaysian Borneo on Monday for their annual Asia-Pacific Economic Cooperation (APEC) forum.

Soeharto quits YDSM chairmanship

Soeharto quits YDSM chairmanship JAKARTA (JP): Former president Soeharto has resigned as chairman of the Yayasan Dana Sosial Mandiri (YDSM), a social foundation that sponsors rolling fund schemes to help people living under the poverty line, because he is "too busy". "Pak Harto left the foundation last month saying he was very busy," Coordinating Minister for People's Welfare and Poverty Eradication Haryono Suyono said.

Suspect in Yemeni's death arrested

Suspect in Yemeni's death arrested JAKARTA (JP): Police have arrested a 26-year-old Palestinian for his alleged role in the killing of a Yemeni man who was found dead in a West Jakarta hotel on June 8, an official said yesterday. The suspect, identified only as Rusdi, was apprehended by police detectives on Wednesday in Slipi and is being detained at city police headquarters, Lt. Col. Bakat Purwanto, deputy of city police detectives, told The Jakarta Post.

CNN's Indonesian news

CNN's Indonesian news Is CNN really being fair in broadcasting news about Indonesia? I don't think so. Especially not after what I saw Saturday, June 13, in the World News Report at 7 a.m. WITA (Central Time Zone). The report mentioned demonstrations in Jakarta in connection with East Timor. The film footage accompanying this report was old footage from the riots which occurred in Jakarta last month. At no stage was this fact mentioned.

Rights body joins chorus to reopen Tanjung Priok case

Rights body joins chorus to reopen Tanjung Priok case JAKARTA (JP): The National Commission on Human Rights joined a growing chorus yesterday calling on the government to reopen the case of a bloody riot in Jakarta's Tanjung Priok Port district nearly 14 years ago. Commission leaders, during a meeting with Minister of Defense and Security/Armed Forces Commander Gen.

ASEAN outlines plan against fires, haze

ASEAN outlines plan against fires, haze SINGAPORE (AP): Now that heavy rains have doused Indonesian wildfires, Southeast Asian nations outlined a plan yesterday to catch blazes more quickly, using military planes for aerial surveillance, clearer satellite photos and international aid money for fuel and training.

Residents protest land confiscation

Residents protest land confiscation JAKARTA (JP): Dozens of residents of Cilegon, West Java, visited the National Commission on Human Rights office Thursday, complaining that their land had been illegally confiscated by state-owned steel manufacturing company PT Krakatau Steel. Hasan Basri, spokesman of the delegation, told commission members Soegiri and M. Salim that the residents had never sold their land, but that the 14-hectare land area had been claimed by the company.

Clarification of news article

Clarification of news article CARE International Indonesia would like to clarify several issues concerning the article: Uncaring project boss imprisoned, The Jakarta Post, June 5. First, the article implied that Mursalim Kasari was a CARE employee, which he is not and never has been. He was an official of the provincial government of Southeast Sulawesi.

Lease out Batam to save economy

Lease out Batam to save economy By Steven Susanto and Hario Suprobo JAKARTA (JP): Past success in developing the country was made possible by a large inflow of foreign capital. The capital allowed us to exploit domestic resources for the benefit of a few members of privileged families through the widespread abuse of power and facilities in the form of corruption, collusion and nepotism.

Summers to Jakarta Sunday

Summers to Jakarta Sunday TOKYO (Reuters): Deputy U.S. Treasury Secretary Lawrence Summers will travel to Jakarta on Sunday to meet high-ranking Indonesian officials, a U.S. official said yesterday . The official said Summers would travel from Tokyo, where he held a flurry of meetings with Japanese officials on Friday. Summers was due to take part in a meeting of deputy finance ministers from the Group of Seven industrial countries and other nations affected by the Asian crisis on Saturday.

Three foreign firms bid for stake in Semen Gresik

Three foreign firms bid for stake in Semen Gresik JAKARTA (JP): At least three international cement producers are to bid for part of the government's 65 percent stake in publicly-listed PT Semen Gresik cement company. Semen Gresik president Urip Timuryono said yesterday the three companies were Germany's Heidelberger Zement AG, Switzerland's Holderbank Financiere Glarus and Mexico's Cemex CA.

Conversion Rates

Conversion Rates Jakarta (JP): Bank Ekspor Impor Indonesia's (Bank Exim) indicative conversion rates on June 19, 1998: Buying Selling Rp Rp U.S dollar 1 13,500.00 15,500.00 Austrian shilling 1 1,010.40 1,258.90 Australian dollar 1 8,162.00 9,516.00 Belgian franc 1 357.10 413.80 Canadian dollar 1 8,995.20 10,402.50 Swiss franc 1 8,809.80 10,207.50 Deutschemark 1 7,340.10 8,567.40 Danish krone 1 1,933.50 2,241.70 French franc 1 2,195.20 2,547.60 Poundsterling 1 22,114.30 25,574.30 Hong Kong...

Stop using 'Cendana'

Stop using 'Cendana' From Bisnis Indonesia My family lived at Jalan Cendana No. 5 from 1942 to 1982. In 1982, Mr. Soeharto's family bought the house. I object to the current practice of the media to use the word "Cendana" to refer to Soeharto and his family. Some examples include: "Tracing Cendana's wealth" and "Cendana's team of lawyers".

Minimum capital ruling eases

Minimum capital ruling eases JAKARTA (JP): The government eased bank capital requirements yesterday in another concerted effort to speed up the restructuring process of the country's ailing banking industry. Minister of Finance Bambang Subianto said existing banks were no longer required to have a minimum paid-up capital of Rp 250 billion (US$16.12 million) by the end of this year.

Tax facilities halted pending new policy

Tax facilities halted pending new policy JAKARTA (JP): The government has stopped granting special tax facilities to local and foreign companies until a new policy on tax incentives is issued, State Minister of Investment Hamzah Haz said yesterday. "We are studying the effectiveness and transparency of the tax incentives," Hamzah, who is also chairman of the Investment Coordinating Board, told reporters.

Ceramic firm's workers demand wage increase

Ceramic firm's workers demand wage increase JAKARTA (JP): More than 300 workers of a ceramic company in Tangerang regency visited the Jakarta Legal Aid Institute yesterday, seeking legal advice on their demand for a wage increase commensurate with government stipulated levels. Workers of PT Industri Keramik Angsa Daya (Ikad), a subsidiary of Kedawung Group, demanded the company increase their wages by at least 40 percent.

Johnnie Walker team wins golf league

Johnnie Walker team wins golf league BOGOR, West Java (JP): The Johnnie Walker team hung on to win the Ericsson Corporate Golf League concluded at the Rancamaya Golf and Country Club yesterday. Spearheaded by Justin Frizelle, the team, which had a healthy lead going into the sixth and final leg yesterday, collected a mediocre 19 league points to cling on to the top spot with an aggregate point of 152. Mega Kuningan was just nine points behind, followed by Allan Boadle's Citra Regency team.

Trisakti to mark fatal student shooting

Trisakti to mark fatal student shooting JAKARTA (JP): Trisakti University is scheduled to hold a commemorative ceremony this afternoon marking the 40th day since the death of four students in a shooting at its campus. Selamat Jalan Sahabat (Goodbye, Buddies) will start at the campus at Jl. Kyai Tapa 1, West Jakarta, at 5 p.m. It is not open to the general public.

Timor Sea oil field

Timor Sea oil field MELBOURNE (Dow Jones): The Elang/Kakatua oil field development in the Timor Sea is on track to begin production in mid-July, a spokesman for field operators, the Broken Hill Proprietary Co. (BHP), said yesterday. Production at Elang/Kakatua is expected to peak at 33,000 barrels per day. The field will be the first development to be completed in the so called Zone of Cooperation in the Timor Sea, which is jointly administered by the Australian and Indonesian governments.

Money changer shot dead in daylight armed robbery

Money changer shot dead in daylight armed robbery JAKARTA (JP): A man was fatally shot and another seriously wounded when four armed robbers raided a money changer's office on Jl. Mahakam II/2 in South Jakarta at midday yesterday. Watched by a crowd of onlookers, the thieves escaped with Rp 60 million (US$3,750) in cash after opening fire in various directions to clear a path for their escape. They sped off on two RX King motorcycles which they had parked in front of a nearby flower shop.

Exim Bank's facilities may include crude oil

Exim Bank's facilities may include crude oil TOKYO (Reuters): The Export-Import Bank of Japan said yesterday it was open to negotiating on including crude oil in the list of items Indonesia is entitled to buy using a recent $1 billion loan from Japan. "The oil and gas sector is not covered in this round of financial aid," a bank official said.

Gresik pays dividend

Gresik pays dividend JAKARTA (JP): The shareholders meeting of the country's largest cement producer, PT Semen Gresik, approved yesterday the management's proposal to pay a cash dividend of Rp 156.8 (1.1 U.S. cents) per share or 40 percent of its earning per share for 1997. Company president Urip Timuryono said the remaining 60 percent of its profit would be retained to strengthen the company's capital.

Where to go in Jakarta:

Where to go in Jakarta: Exhibitions * Arts Exhibition: ASEANA, a showcase of ASEAN Cultures, featuring books, video and audio tapes, paintings, photographs, handicrafts, at ASEAN Secretariat, Jl. Sisingamangaraja 70A, South Jakarta (Phone: 7262991), until July 25. Monday to Friday, 9 a.m. - 7 p.m.

ICMI calls for end to attacks on Habibie

ICMI calls for end to attacks on Habibie JAKARTA (JP): The Association of Indonesian Moslem Intellectuals (ICMI) called for an end to the attacks on President B.J. Habibie's legitimacy yesterday, saying he should be given a chance to govern and implement reforms. ICMI acting chairman Achmad Tirtosudiro told reporters that Habibie had been unfairly criticized for the country's economic turmoil, which he said was essentially the legacy of the previous government under president Soeharto.

Honoring Sukarno's memory a 'family matter'

Honoring Sukarno's memory a 'family matter' By Sirikit Syah BLITAR, East Java (JP): Thousands are expected to attend ceremonies, or haul, marking the death of Indonesia's first president Sukarno, today at his final resting place here, in Blitar, East Java, 170 kilometers south of Surabaya. The ceremony has evolved from a simple gathering in 1982 into an almost landmark event which attracts not only the relatives of the late president, but also admirers, friends and supporters.

Govt delays power tariff increases for households

Govt delays power tariff increases for households JAKARTA (JP): Minister of Mines and Energy Kuntoro Mangkusubroto has ordered state electricity company PLN to delay increasing power prices for households following mounting public protests. Kuntoro said yesterday that the delay in the tariff increase was essential to protect low-income people. PLN president Djiteng Marsudi said last night he would comply with the instruction. "We will comply with the order.

First Pacific eyes Indofood

First Pacific eyes Indofood HONG KONG (Reuters): First Pacific Co. Ltd said yesterday it was studying investments in dozens of companies, including Indonesian noodle company PT Indofood Sukses Makmur controlled by the Salim family. "Indofood is among the dozens of companies that have appeared fleetingly on the periphery of our radar screen," said group vice president corporate communications Robert Sherbin.

PLN firm on Cikarang Listrindo decision

PLN firm on Cikarang Listrindo decision JAKARTA (JP): State electricity company PLN president Djiteng Marsudi said yesterday he would not review his recent decision to annul the company's power purchase contract with PT Cikarang Listrindo, an independent power producer. Djiteng told The Jakarta Post that this was despite a request from Cikarang Listrindo. "I shall not review the decision," he said.

RI has new proposals on East Timor dispute

RI has new proposals on East Timor dispute UNITED NATIONS (Agencies): Indonesia's foreign minister Ali Alatas yesterday offered new proposals to resolve the decades-old dispute over East Timor, the United Nations said. Alatas, who kept his post under the new government of B.J. Habibie, presented Secretary-General Kofi Annan with the proposals that UN spokesman Fred Eckhard said marked "an important development" in the negotiations. He would not say what they were.

Indonesians of Chinese descent

Indonesians of Chinese descent I am writing in response to Sumarsono Sastrowardoyo's letters of May 30 and June 12. The Indonesian nation as we know it today, in essence, "never existed" before. Even the word Indonesia was made up by the European colonists.

WB lends Malaysia $300m

WB lends Malaysia $300m WASHINGTON (Reuters): The World Bank approved a $300 million loan on Thursday for Malaysia and said the money would help ease the social costs of Asia's economic flu. The bank said the loan, to be paid in a single instalment, would give Malaysia the budget flexibility it needs to maintain existing spending on health and education and step up the scope of programs to reduce poverty in rural areas.

Political scientists offer draft for dynamic reform

Political scientists offer draft for dynamic reform JAKARTA (JP): A group of political scientists warned yesterday the reform process should not be restricted to a changing of the political guard, but also effect a dynamic political system capable of "self-reform".

Say it with cartoons and nobody will feel humiliated

Say it with cartoons and nobody will feel humiliated By Yudha Kartohadiprodjo JAKARTA (JP): It is not easy to criticize without hurting someone's feelings but things come easier for cartoonists. With their humor, they can condemn society and the government while, at the same time, put a smile on their face.

Pertamina fights to secure crude from Mobil and BHP

Pertamina fights to secure crude from Mobil and BHP SINGAPORE (Reuters): Indonesian state oil company Pertamina has in principle concluded deals to buy three July cargoes of crude from Asia and West Africa with private oil firms, but final agreement is subject to Pertamina's ability to open letters of credit, traders said yesterday. However, Pertamina has purchased three cargoes of Malaysian crude for July lifting under open credit terms with state-owned Petronas, industry sources said.

Habibie outlines grim realities

Habibie outlines grim realities JAKARTA (JP): President B.J. Habibie yesterday recognized that there was little the government could do to help reduce the unemployment rate, especially among the educated, which is expected to further swell in the months ahead. Without giving specific numbers, Habibie said the government would not be able to provide adequate job opportunities as the country's economy contracted severely over the next few years.

21 ABRI members quizzed in missing persons probe

21 ABRI members quizzed in missing persons probe JAKARTA (JP): National Military Police have questioned 21 police and military officers as part of their ongoing investigation into the disappearance of a number of political activists, an official said yesterday. "We're working on the case," National Military Police Commander Maj. Gen. Syamsu Djalal said. "We've also been in contact with other senior officials, including Jakarta Military Commander Maj. Gen. Sjafrie Sjamsoeddin and Lt. Col.