Indonesian Political, Business & Finance News

Archive: 26 June 1998

50 articles found

Bogor Regional Police's new chief

Bogor Regional Police's new chief BOGOR (JP): Col. R. Hari Setyabudhi was installed yesterday as the new chief of the Bogor Regional Police, replacing Col. R. Abubakar Nataprawira. The installation ceremony was held at Pajajaran Stadium here and led by West Java Regional Police chief Maj. Gen. Chairuddin Ismail. Hari, a graduate of the Armed Forces Academy in 1973, was posted in West Kalimantan for eight years before serving in positions in Surabaya, Tangerang, Semarang and Pekanbaru.

'Let Timorese decide their own fate'

'Let Timorese decide their own fate' The wind of reform has prompted the government to offer special status to East Timor, the former Portuguese colony that became an Indonesian province in 1976. Political scientist Arbi Sanit of the University of Indonesia thinks that the East Timorese should have more say in their own administration. Question: Do you think that the special status offered by President B.J. Habibie to the East Timorese is adequate?

Organized groups ignited May riots, says scholar

Organized groups ignited May riots, says scholar YOGYAKARTA (JP): Last month's rioting, which claimed more than 1,100 lives, was not caused by anti-Chinese bias but by organized groups who exploited ethnic sentiments for their own political interests, a noted political scientist said yesterday.

Govt signs new pact with IMF

Govt signs new pact with IMF JAKARTA (JP): The government has signed another agreement with the International Monetary Fund (IMF), the fourth in nine months, promising yet more reforms in a bid to arrest the country's economic turmoil. Success of the programs, however, hinges on additional foreign financial assistance of between US$6 billion and $8 billion.

No racism

No racism I'm not a racist, my niece is even married a nice Chinese man. While at Sancta Ursula Boarding School (1949-1955), most of my friends were nonindigenous. For five years, my two sons rented an apartment with two Chinese boys from Singapore while they all studied at the University of Hawaii, Honolulu, and until now they are still best friends. But I agree with William Soerjadjaja (RCTI, June 23, 1998), who called on nonindigenous Indonesians to do some introspection.

Perhutani to sell veneer straight to users

Perhutani to sell veneer straight to users JAKARTA (JP): State forestry company Perum Perhutani said yesterday that it would sell its veneer, a surface layer for plywood products, directly to plywood producers from next month. The company's marketing director, Bambang Soebijantoro, said the contract given to PT Sari Permindo Lestari to distribute the veneer to members of the Association of Indonesian Wood-panel Producers (Apkindo) would expire on July 1.

Jakarta sticks to five-day workweek

Jakarta sticks to five-day workweek JAKARTA (JP): The Jakarta administration will not follow Lampung province in returning to a six-day workweek because the current five-day workweek has been running pretty well, Governor Sutiyoso said yesterday. "This is the capital. It's different from other provinces. We're not only serving the local population, but also international parties," he told The Jakarta Post.

Conversion Rates

Conversion Rates JAKARTA (JP): Bank Ekspor Impor Indonesia's (Bank Exim) indicative conversion rates on June 25, 1998: Buying Selling Rp Rp U.S.

Govt called on to give new status to 'TVRI' and 'RRI'

Govt called on to give new status to 'TVRI' and 'RRI' JAKARTA (JP): A group of media owners, journalists and senior editors suggested yesterday that the state-run television network TVRI and radio station RRI be given the new status of "public broadcasting service" organizations like the British Broadcasting Corporation (BBC) or the Australian Broadcasting Corporation (ABC).

Special address for public complaints

Special address for public complaints JAKARTA (JP): The city administration has set up a special post office box for people to freely lodge their complaints on public services provided by its employees. Governor Sutiyoso, who introduced PO Box 0008, Jakarta 10900, said it was being launched as part of his office's efforts to implement massive reforms across the administration to meet the public's expectations about the quality of the city's services.

Pertamina seals gas oil deal

Pertamina seals gas oil deal SINGAPORE (Reuters): Indonesia state-owned oil company, Pertamina, has bought its first directly negotiated spot gas oil cargo from a Middle East National oil company, a source involved in the deal said yesterday. The deal for the delivery of a 80,000 ton (600,000 barrel) cargo into Teluk Semangka in the second half of July was concluded this week, the source told Reuters. "We have no problems with their letters of credit," the source said.

Short films made by locals go International

Short films made by locals go International By Gotot Prakosa JAKARTA (JP): Short films are void of any commercial value in this country, yet, even during the present economic crisis a young man has completed an admirable 29-minute video film. Nanang Setiabudi, 27, a graduate of the Jakarta Arts Institute's (IKJ) film school, has produced Revolusi Harapan (Revolution of Hope), a film dwelling on society's hopes.

Kendari hit by severe flood

Kendari hit by severe flood KENDARI, Southeast Sulawesi: Thousands of homes in the Kendari area were flooded yesterday in up to 50 centimeters of water following incessant rain which began Wednesday afternoon. Antara quoted residents as saying that they were surprised by the flood's severity. They pointed out that flood water had never reached such high levels.

IMF, foreign donors urged to quickly disburse loans

IMF, foreign donors urged to quickly disburse loans JAKARTA (JP): Economists welcomed yesterday Indonesia's new accord with the International Monetary Fund (IMF) and urged the agency and other donors to quickly disburse their pledged loans to the country to prevent costlier crisis-saving measures. "The loans have to be disbursed quickly or the bailout efforts will be fruitless," said Umar Juoro, a senior economist at the Center for Information and Development Studies (CIDES).

New tribes found in Irian Jaya

New tribes found in Irian Jaya JAYAPURA, Irian Jaya: Field officers of the provincial social affairs office here have discovered two nomadic tribes living near the Mamberamo River area. The members of the Vahudate and the Aukedate tribes are tall, have dark skin and curly hair and use a sign language, the office's head for social welfare, Onesimus Y Ramandey, said as quoted by Antara yesterday.

Arrest nation's increasing misery

Arrest nation's increasing misery By Omar Halim JAKARTA (JP): After the government of president Soeharto signed the second Letter of Intent with the IMF in late January, the author wrote an article in this newspaper entitled "Economic reform without misery?" Since then, significant changes have taken place. The student demonstrations, which spread throughout the archipelago, were followed by violent riots, particularly in Solo and Jakarta.

ADB makes $1,5b loan to Indonesia

ADB makes $1,5b loan to Indonesia MANILA (DPA): The Asian Development Bank (ADB) approved a US$1.5 billion loan package yesterday to fund an Indonesian government program addressing the weaknesses of its financial sector amid worsening economic woes. The Manila-based ADB said the "exceptionally large loan and investment package" was part of a support initiative under which the bank pledges to disburse a total of 3.5 billion dollars in assistance to Indonesia in the next five years.

Observers blast timetable set for general election

Observers blast timetable set for general election JAKARTA (JP): The mid-1998 general election timetable set by President B.J. Habibie is considered not soon enough and will only serve to prolong the country's political and economic suffering, observers said here yesterday. Former cabinet minister Emil Salim and political observer Daniel Sparringa of Surabaya's Airlangga University said during a seminar here yesterday that the government's decision was "killing the economy".

Surabaya aid body investigates death

Surabaya aid body investigates death SURABAYA (JP): The Surabaya Legal Aid Office is investigating the death of a worker of the Maspion Group who was allegedly beaten during a clash between demonstrating workers and security forces on June 8. The legal aid office said Lasimo, 35, died at his house in Pasuruan three days after the incident. Lasimo had received medical treatment for one day at Sidoarjo General Hospital.

Southeast Asian currencies drift as yen steadies

Southeast Asian currencies drift as yen steadies SINGAPORE (Dow Jones): Southeast Asian currencies drifted in relatively tight trading ranges yesterday, following the Japanese yen even as it led nowhere. The Japanese currency's movement was kept in check by fears of renewed Bank of Japan intervention and cautious trading as U.S. President Bill Clinton embarked on a high-profile, nine-day trip to China.

Thailand, RI in rice barter

Thailand, RI in rice barter BANGKOK (Reuters): Thailand and Indonesia have agreed in principle to a counter-trade deal for the sale of Thai rice to Jakarta to be paid in terms of some goods, including crude oil, a commerce ministry official said yesterday. "Yes, there has been discussion and we have agreed in principle that this will happen," said Duangporn Rodphaya, head of the ministry's foreign trade department.

Habibie launches human rights campaign

Habibie launches human rights campaign JAKARTA (JP): President B.J. Habibie officially launched the country's five-year National Action Plan on Human Rights yesterday as a part of the new government's ambitious plan to rehabilitate the country's poor record on human rights protection.

TV today

TV today TVRI 12:15 p.m. World Cup Soccer (rerun) 2:00 News: Berita 14 2:30 Music 2:35 Children's Film: Tom and Jerry Kids 3:05 Music Lessons: Kesenian Degung 3:30 Village Program 4:00 Regional News 4:30 Performance: Cakrawala Budaya 5:00 Music: Paket 27 5:30 Education Quiz: Cerdas Cermat 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 Culture Program: Topeng Banjet 8:00 News: Lintasan Berita 8:05 Culture Program:...

Youths loot Samarinda shops

Youths loot Samarinda shops SAMARINDA, East Kalimantan: Dozens of youths looted and destroyed a number of shops at Pinang Bebaris Shopping Center here yesterday, causing panic and prompting shop owners across the city to quickly close their businesses.

Cash-strapped RI set to play Davis

Cash-strapped RI set to play Davis JAKARTA (JP): Despite financial troubles plaguing its training program, the Indonesian Tennis Association plans to send a team to Lebanon for several Davis Cup Asia-Oceania Group I matches. Association chairman Sarwono Kusumaatmadja said yesterday he was determined to overcome financial hurdles to send the team since Indonesia's national pride was at stake.

A pact with the IMF

A pact with the IMF The government has signed yet another letter of intent with the International Monetary Fund (IMF) pledging to implement economic reform measures in return for the US$43 billion international assistance that the agency has organized for Indonesia. This is the fourth such letter signed since October, and is a condition for the disbursement of the next $1 billion tranche of the IMF money, which has been due since May, but delayed because of the recent political turmoil.

Dire consequences

Dire consequences From Bisnis Indonesia Allow me to share my painful sorrow as a result of the May 14 tragedy, which is still very much alive in my memory. One of my friends, a young woman who was going to be married this year, was seriously injured on that fateful day. At the time, a huge crowd had gathered in front of the ruko (shop-house) where she lived. The crowd was shouting and threatening to torch the premises.

Govt's letter of intent to the IMF

Govt's letter of intent to the IMF JAKARTA (JP): This is the full text of the latest letter of intent from the government of Indonesia, signed by Coordinating Minister of the Economy, Finance and Industry Ginandjar Kartasasmita, to the International Monetary Fund's Managing Director Michel Camdessus. Dear Mr. Camdessus, 1. Since late last year, we have been implementing a reform and stabilization program, supported by the Fund under a three- year stand-by arrangement.

Opel offers incentive to reinforce sales

Opel offers incentive to reinforce sales JAKARTA (JP): Opel has launched a new incentive program -- 5,000 liters of free gasoline and three years of free servicing and spare parts for every Blazer car purchased -- to boost flagging sales in the country's sluggish automotive market. Terence B.

Kobe completes RI expansion

Kobe completes RI expansion TOKYO (Dow Jones): A Japanese consortium of companies led by Kobe Steel Ltd has completed expansion of a chlor-alkali plant in Indonesia and the facility has begun commercial production, the major steelmaker said yesterday. In addition to Kobe Steel, the consortium consists of Asahi Chemical Industry Co and its subsidiary Asahi Engineering Co, as well as Sumitomo Corp.

Djadja replaces Sjafrie as Jakarta military chief

Djadja replaces Sjafrie as Jakarta military chief JAKARTA (JP): Maj. Gen. Sjafrie Sjamsoeddin will be replaced as chief of the Jakarta Military Command after serving only eight months in the post. The new incoming commander is Maj. Gen. Djadja Suparman, currently the chief of the Brawijaya Military Command overseeing East Java. Sjafrie, once considered a rising star in the Armed Forces (ABRI) Headquarters, is a 1974 graduate of the Army Academy.

Nonindigenous Indonesians

Nonindigenous Indonesians From Kompas I am not an Indonesian of foreign descent but an ethnic Javanese-Indonesian. In the recent riots, many Chinese- Indonesians were hurt. They saw their houses and shops burned down. They experienced great fear and heavy stress, they were frightened that their houses would be invaded by looters and torched. Out of fear, many of them fled temporarily to Singapore, Hong Kong and Perth. Many among them are actually Indonesian nationals bearing Indonesian names.

Better law enforcement needed

Better law enforcement needed In the wake of the May 14 riots in Jakarta and elsewhere, many Indonesian business people, especially those of Chinese descent, are reported to have fled abroad to find safety and conduct business. Although Armed Forces Chief Gen. Wiranto and Jakarta's military commander, Maj. Gen.

EU ambassadors to visit E. Timor

EU ambassadors to visit E. Timor JAKARTA (JP): Three European Union ambassadors will arrive in East Timor tomorrow for a four-day visit, in a move reflecting "continuing and increased concern" over the situation there, the British Foreign Office said in a statement. The three ambassadors -- Britain's Robin Christopher, Austria's Viktor Segalla and Paul Brouwer of the Netherlands -- represent the heads of the diplomatic missions of the European Union Troika here.

Where to go in Jakarta:

Where to go in Jakarta: Exhibitions * Indian Photo Exhibition, National Museum, Jl. Medan Merdeka Barat 12, Central Jakarta (Phone: 3811551), Sunday, Tuesday to Thursday, 8:30 a.m. to 2:30 p.m., Friday, 8:30 a.m. to 11:30 a.m., Saturday, 8:30 a.m. to 1:30 p.m., until July 1. * Arts Exhibition: ASEANA, a showcase of ASEAN Cultures, featuring books, video and audio tapes, paintings, photographs, handicrafts, at ASEAN Secretariat, Jl.

City considers streamlining its agencies

City considers streamlining its agencies JAKARTA (JP): The city administration is studying the possibility of streamlining its 29 agencies by closing some and putting others under one roof, Governor Sutiyoso said yesterday. He said the move might ensure efficiency, which ultimately would provide better services to the public. Simplification of the city's agencies is in line with the central government's instruction, he added. "My staff are still intensively studying the possibility.

Existing parties need tuning up, analysts advise

Existing parties need tuning up, analysts advise JAKARTA (JP): Political observers said yesterday that it would be more effective to reform the three main political parties -- the United Development Party (PPP), Golkar and the Indonesian Democratic Party (PDI) -- rather than forming myriad small parties with divisive tendencies.

Stock Exchange

Stock Exchange Stock prices on the Jakarta Stock Exchange (in rupiah) on June 25, 1998: Shares Close Change Trading Volume --------------------------------------------------------- Ades Alfindo 450 0 0 AHAP Insurance 575 0 0 Alter Abadi 500 -25 120,000 Alumindo Light Metal 300 0 59,000 Alumindo Perkasa 200 0 1,000 Aneka Kimia Raya 175 -25 25,500 Aneka Tambang 1,475 25 749,000 Anwar Sierad 100 -25 80,000 Apac Centertex Corp.

Alcatel's new cell phone

Alcatel's new cell phone JAKARTA (JP): French telecommunications company Alcatel launched yesterday a new pocket size cellular phone, the Alcatel One Touch Com, for business people. "Aside from giving a cellular phone service, Alcatel One Touch Com can also function as personal organizer and provider access to e-mails on the Internet," Alcatel country sales manager for professional consumer division, Ursulien Manoi, said yesterday.

Pasar Jaya to help food distribution

Pasar Jaya to help food distribution JAKARTA (JP): PD Pasar Jaya, the city market managing company, will likely be involved in a food distribution center to be set up by the central government to help facilitate food distribution, an official said. "We have just discussed the possible involvement of Pasar Jaya in the distribution of various basic food commodities," the firm's president, Albert Napitupulu, said after a meeting with Industry and Trade Minister Rahardi Ramelan on Tuesday.

Trisakti tragedy revisited in documentary film

Trisakti tragedy revisited in documentary film By Stevie Emilia JAKARTA (JP): It seems some professionals are always busy, busy, busy. Or, at least, they are pretending to be, whatever the circumstances. That was the impression from Wednesday's screening of Harry Roesli's untitled documentary film on the Trisakti tragedy at Jakarta Hilton International Hotel. Most of the audience was absorbed in the film, and some were even moved to tears.

Rupiah, stocks cold on new IMF deal

Rupiah, stocks cold on new IMF deal JAKARTA (JP): The country's financial market was unmoved by a new agreement between the International Monetary Fund (IMF) and the government yesterday. The rupiah was locked at 14,800 against the U.S. dollar almost the whole trading day and the stock market fell 0.5 percent, currency dealers and stockbrokers said. They said regional bearish sentiment and domestic political uncertainty overshadowed the IMF deal and continued to cloud the local market.

Efficiency drive in East Jakarta

Efficiency drive in East Jakarta JAKARTA (JP): The East Jakarta Mayoralty is striving to substantially slash its expenses in a number of offices in a bid to improve efficiency, mayor Sudarsono said yesterday. "Substantial reductions in the expenses are being applied on several facilities, ranging from the use of telephones, tap water and electricity to the hiring of cleaners," Sudarsono was quoted by Antara as saying.

Social welfare

Social welfare Many steps are being taken to alleviate the suffering of people who lost their possessions during the turmoil of May 14, 1998, or the unemployed who lost their means of making a living. Many welfare institutions distributed staple foods to the people, especially those who live below the subsistence level. In this context, we can emulate the welfare system of the U.S., which is very efficient. There are public kitchens where people can receive free decent meals daily.

Glodok electronic traders move to Mangga Dua Mall

Glodok electronic traders move to Mangga Dua Mall JAKARTA (JP): More than 300 traders specializing in computer, video and digital compact disc equipment have moved to Mangga Dua Mall from the old Glodok electronics center, which was destroyed in last month's riot. Tamsil, one of the traders, said yesterday that the decision to move to Mangga Dua Mall was taken because it was well-known as an emerging business site and was easy for their regular customers to reach.

KPC asks three state mining firms to buy stakes

KPC asks three state mining firms to buy stakes JAKARTA (JP): The country's largest coal mining company PT Kaltim Prima Coal (KPC) has invited three state mining companies PT Tambang Timah, PT Aneka Tambang and PT Batubara Bukit Asam to buy 23 percent of its stake to fulfill a mandatory divestment program.

RI's memorandum of economic and financial policies

RI's memorandum of economic and financial policies The following is the text of Indonesia's Second Memorandum of Economic and Financial Policies attached to the letter of intent signed by Coordinating Minister for Economy, Finance and Industry Ginandjar Kartasasmita Thursday in Jakarta. 1.

Visa launches new debit card service

Visa launches new debit card service JAKARTA (JP): Visa International launched a new debit card service in Indonesia yesterday to tap into the country's growing number of bank depositors. Visa International country manager for Indonesia Ellyana C. Fuad said the new product, Visa Electron, debit card was part of Visa International's global program to boost its presence in the Asia-Pacific region.

S'pore to launch economic measures

S'pore to launch economic measures HONG KONG (Reuters): Singapore will announce on Monday tax cuts and increases in infrastructure spending in a bid to counter the impact of the region's financial crisis, which is forcing the government to lower its 1998 growth forecast, a newspaper reported yesterday. It was possible the country could go into recession in the third quarter, Singapore Deputy Prime Minister Lee Hsien Loong was quoted by Hong Kong's South China Morning Post as saying.

OPEC cuts could give Indonesia quick reward

OPEC cuts could give Indonesia quick reward SINGAPORE (Reuters): Crisis stricken Indonesia could reap immediate rewards from its decision to join in with OPEC's plan to cut output and shore up flagging prices, experts said yesterday. They said Indonesia was certain to gain in the longer term too from the Organization of Petroleum Exporting Countries' agreement in Vienna to cut supply by 1.355 million barrel per day (bpd).