Indonesian Political, Business & Finance News

Archive: 29 June 1998

51 articles found

Trivial ceremonies eliminated

Trivial ceremonies eliminated TANGERANG (JP): The Tangerang Mayoralty plans to eliminate insignificant ceremonies to streamline its budgetary expenses, Mayor Djakaria Mahmud said Saturday. "The number of insignificant ceremonies, such as anniversary commemorations for institutions, will be phase out and be observed modestly," he said. Djakaria was quoted by Antara as saying that he would also cut down on certain public competitions as suggested in a June 9 circular from the West Java governor.

East Java Police chief focuses on improvements

East Java Police chief focuses on improvements JAKARTA (JP): East Java Police chief Maj. Gen. Moech Dayat said yesterday he had been making every effort to improve his force, including convening a military tribunal against 42 police officers suspected of serious violations. "We've taken stern measures against 321 police officers and 42 of them are being court-martialled," he said during a dialog with ethnic Chinese residents in Surabaya, East Java.

Ethnic groups exchange views on differences

Ethnic groups exchange views on differences JAKARTA (JP): A discussion on the relationship between elements of the population who are of Malay and Chinese descent held on Saturday served to highlight deep divisions between the two communities when feelings of exploitation and bias were expressed very emphatically. The discussion brought together people from many walks of life, and it was through their spontaneous comments that these deep rooted feelings were revealed.

Emil calls on govt to set up independent commission

Emil calls on govt to set up independent commission JAKARTA (JP): Gema Madani, a group headed by former minister Emil Salim, has called on President B.J. Habibie to set up an independent commission to investigate causes behind the country's recent social unrest and alleged human rights violations. The call highlights growing public impatience for the government to uncover the truth behind alleged human rights violations despite an ongoing investigation launched by the Armed Forces.

IPTN cancels 'Phoenix' project

IPTN cancels 'Phoenix' project BANDUNG (JP): The state aircraft manufacturer Industri Pesawat Terbang Nusantara (IPTN) has canceled a plan to join a tender to replace the ageing fleet of Caribou aircraft operated by the Royal Australian Air Force (RAAF) of Australia.

Job hunters duped by fake Telkom staff

Job hunters duped by fake Telkom staff JAKARTA (JP): At least eight people have been cheated by a group of unidentified men who collected money from them after promising them jobs at state telecommunications firm Telkom, an official said Saturday. The head of the human resources development department of Telkom's Jakarta regional office, Joko Triwibowo, quoted the victims as saying that the group escorted them to the Telkom office building on Jl. Gatot Subroto in South Jakarta.

It's multiparty time

It's multiparty time The birth of Islamic political parties, Chinese parties and labor parties in recent weeks has raised fears of a return to a political system divided along sectarian, ethnic, ideological or even class lines. Many fear that this could upset relations among the diverse religious, ethnic, race and cultural groups that make up our society. They fear that this trend could lead to the breaking up of the Indonesian nation as we know it today.

Police to summon Nirwan over bank deal

Police to summon Nirwan over bank deal BOGOR (JP): Police will summon Nirwan Bakrie, chairman of the widely diversified Bakrie Group, for questioning in relation to an ongoing investigation of a Rp 900 billion scam at Bank Perniagaan, an official said Saturday. Deputy chief of the city police detectives' unit, Lt. Col. Bakat Purwanto, said after a cadet school graduation at Lido, Bogor, that besides Nirwan, police were also planning to summon four other people in connection with the case.

Rubin backs China to hold firm on yuan

Rubin backs China to hold firm on yuan KUALA LUMPUR (Reuters): U.S. Treasury Secretary Robert Rubin left China yesterday to embark on a whirlwind tour of crisis-torn Asia, convinced that Beijing has the resolve to live up to its new image as an island of stability in the battered region. During his three-day stay in Beijing on the sidelines of U.S.

Indigenousness

Indigenousness From Bisnis Indonesia Lutfi Heyder's letter in Bisnis Indonesia, June 8 (The Jakarta Post June 15), is interesting and I am very grateful to him for not discriminating against us. He shows that by employing Chinese-Indonesians in his business. As an Indonesian of Chinese descent, I would like to express a number of thoughts on the indigenous/nonindigenous relationship. I have seen that several of my friends have assimilated themselves.

Who wants to be Indonesia's CFO?

Who wants to be Indonesia's CFO? By C.J. de Koning JAKARTA (JP): Last year at about this time, Indonesia was enjoying an economic growth rate of about 8 percent. It had an inflation rate of about 7 percent per annum, a balanced government budget, a current account deficit running at about 3.5 percent of the Gross Domestic Product (GDP), smaller than a number of neighboring countries, and a banking sector with a number of weak spots.

New homicide case adds to police's growing caseload

New homicide case adds to police's growing caseload JAKARTA (JP): After being puzzled by the discovery of two mutilated female bodies over the last seven days, the city was hit again yesterday by the finding of a third unidentified female body in North Jakarta. The victim, a girl believed to be about 15 years old, however, was not mutilated. A kangkung (water spinach) grower found the body on Jl. Pegangsaan II in Kelapa Gading at about 1:30 a.m., Lt. Col.

New target dates for economic reform package

New target dates for economic reform package JAKARTA (JP): The following are new target dates for Indonesia's economic reform program agreed with the International Monetary Fund (IMF) Wednesday. Since the IMF-sponsored reform program was launched last October, the government has completed more than 60 points of economic reform in various fields contained in the program. The IMF has arranged a US$43-billion bailout to support the program.

Pefindo gets new president

Pefindo gets new president JAKARTA (JP): Manggi T. Habir has been appointed as the president of PT Pemeringkat Efek Indonesia (Pefindo), Indonesia's rating agency, replacing Farid Harianto. The company announced in a statement over the weekend that Farid, who is now working with the Indonesian Banks Restructuring Agency, had also been named as one of the agency's commissioners. Other newly appointed commissioners included Akbar Durin and Kartini Muljadi.

Thousands pray for God's help

Thousands pray for God's help PALANGKA RAYA, Central Kalimantan: Thousands of Moslems gathered in the town square here Saturday for an istighotsah service (prayers asking for divine help) to lift the nation out of the economic crisis. The service was led by Haderanie, chairman of the Central Kalimantan chapter of the Indonesian Council of Ulemas (MUI). Also present was Central Kalimantan Governor Warsito Rasman.

Ferry victims' bodies recovered

Ferry victims' bodies recovered EAST LOMBOK, West Nusa Tenggara: Search and Rescue teams over the weekend found only five more bodies of the 32 passengers listed as missing when the ill-fated Bahana Nusantara sank in the Alas Strait on Thursday evening. "The rescue team found five bodies floating near the scene of the accident, bringing the total number of bodies recovered to 10," Zainal, a Kayangan port official, said yesterday.

Marine monument inaugurated

Marine monument inaugurated SURABAYA: A submarine monument, a ground display of a 1952 Russian-made submarine, was inaugurated here on Saturday by the outgoing Navy Chief Adm. Arief Kushariadi. The monument has been named KRI Pasopati 410. "This kind of monument is the biggest and the most complete in the world. There's another one in Germany, but it's smaller than this," he was quoted by Antara as saying. The submarine is 76 meters in length and 6.3 meters wide.

Super reformist minister

Super reformist minister It strikes like lightning on a bright cloudless day so boldly it is revolutionary, is the suggestion. Under the former repressive regime such a proposal might only be uttered by a drunk, or worse, insane person. I mean, of course, the idea that this nation gets rid of the information ministry to overcome excessive but erratic hurdles and minimize state spending.

Who is to blame?

Who is to blame? We used to be known as a nation of coolies and the coolie of other nations. Today Indonesia is known as a nation of debtors which has debts with other nations. In terms of the rupiah, Indonesia's loans total thousands of trillions or zillions and the amount will swell further with the loans extended by the IMF and other donor countries/institutions.

Hotline for sexual abuse victims opened

Hotline for sexual abuse victims opened JAKARTA (JP): The government has opened a hotline for victims who were sexually assaulted during last month's riots. A major aim of the hotline is to collect reports from victims who may be too disheartened to directly inform security officers of such violations. Those wishing to make a report can call (021) 3805539 or 3805559.

Bank Bali provides bonus, rules out final dividend

Bank Bali provides bonus, rules out final dividend JAKARTA (JP): Publicly listed Bank Bali has decided not to pay a final dividend for 1997 but will give shareholders bonus shares in addition to an interim dividend of Rp 45 per share. The bank's president, Rudy Ramli, said in a statement following a shareholders meeting over the weekend that the issuance of the bonus shares is expected to strengthen the bank's capital structure and boost the shares market liquidity in the stock exchange.

Importance of insurance underlined

Importance of insurance underlined Recent events have brought home the prudence of insurance as a protection against unforeseen events which may be lurking in the future. The May riots and ensuing fires which laid waste to much of the capital of Jakarta have caused huge material losses. A far- thinking few may be covered for their losses and may be quickly able to restore some of the normalcy to their lives.

Who says a family PC should not be fully loaded?

Who says a family PC should not be fully loaded? By Zatni Arbi JAKARTA (JP): As our economy continues to slide further into uncertainty, who would be interested in forking out money for a family computer when the same sum of money could buy a decent used car? Maybe some would. And why not? Those who are paid in foreign currency will certainly find the HP Pavilions currently being offered in Indonesia a great bargain. In the U.S., the prices of Pavilions start at US$1,499.

Authorities to remove illegal banners from streets

Authorities to remove illegal banners from streets JAKARTA (JP): The city administration will remove illegal banners displaying political messages which have been placed on major streets throughout the city, Deputy Governor for Administrative Affairs Abdul Kahfi said over the weekend. Kahfi said the clean-up was necessary because the banners presence detracted from the city's beauty. "People are not allowed to display banners wherever they like without abiding by existing regulations," he said.

PPP criticizes ABRI coordination meeting with Golkar

PPP criticizes ABRI coordination meeting with Golkar JAKARTA (JP): The United Development Party (PPP) questioned the Armed Forces' (ABRI)'s commitment to reform yesterday after it allegedly hosted a coordination meeting with the dominant political group Golkar on Saturday, Antara reported. "That meeting is diametrical to ABRIs own concept of reform which says that it stands above all the political parties," PPP Secretary General Tosari Wijaya said.

Thai workers reject the jobs of migrants

Thai workers reject the jobs of migrants The Thai government is being forced to backtrack on a ruling to replace migrant workers with nationals. Thais don't want dangerous, low-paid jobs and the Myanmar people, who have fled a situation even worse, won't go home. Sandy Barron reports from Bangkok. BANGKOK: Jobs may be disappearing as recession bites deeper in Thailand, but potential workers are greeting one "solution" with an emphatic "no thanks".

U.S. economy begins to feel Asian crisis

U.S. economy begins to feel Asian crisis By Martin Halusa NEW YORK (DPA): The sharp economic slowdown in Asia is starting to be felt in certain regions of the United States, according to a report by the Federal Reserve which compares growth in its 12 regional districts. Seven of the districts of the "Fed" -- the U.S. central bank -- have reported declining sales to Asia since the onset of the financial crisis there.

Meeting to focus on ape survival

Meeting to focus on ape survival Kuching, Malaysia (DPA): The International Great Apes of the World Conference (GAWC-3) to be held on Borneo Island from July 3 is expected to come up with an Action Plan for Great Ape Survival, the Sarawak Development Institute (SDI) said in a statement yesterday.

EU envoys greeted by protesters in Dili

EU envoys greeted by protesters in Dili JAKARTA (Agencies): Thousands of protesters escorted three European ambassadors through the streets of the East Timor capital Dili yesterday as the envoys surveyed political conditions in the troubled province, Reuters reported. The crowd of about 5,000, many on foot and some in trucks, forced the ambassadors' minibus to a crawl through the city's streets from their hotel to the home of a leading dissident.

WB signs Indonesian loan

WB signs Indonesian loan WASHINGTON (Dow Jones): The World Bank and Indonesia signed here Friday an agreement on a US$225 million poverty-alleviation loan, the Indonesian embassy said. The loan was approved by the World Bank board on June 2, after a delay due to the political instability that led to the resignation of long-running President Soeharto last month. The financing will support a program that aims at eradicating poverty in 9,000 rural villages, the embassy said in a press release.

Three arrested for gambling

Three arrested for gambling TANGERANG (JP): Police arrested three men Saturday for allegedly conducting an illegal gambling operation here, an officer said. The head of the Tangerang Police precinct, Lt. Col. Aryanto Boedihardjo, said the three -- identified as Su, 48; M, 45; and D, 39 -- were arrested while distributing gambling coupons in the districts of Teluk Naga, Pakuhai and Kosambi. Police confiscated gambling coupons as evidence during the arrest, he said.

Thai train wreck traced to alcohol

Thai train wreck traced to alcohol BANGKOK (AP): The driver of a train that derailed in northern Thailand, killing four passengers, may have been drunk, local newspapers said yesterday. The train jumped its tracks late Friday, sending most of its cars down a hillside, as it was rounding a curve in a heavily- forested area about 150 kilometers south of Chiang Mai. Four people were killed and more than 300 others were injured in the accident.

Estrada urges Filipinos to unite

Estrada urges Filipinos to unite MANILA (AP): President-elect Joseph Estrada urged Filipinos yesterday to unite after a stormy dispute provoked by his endorsing the burial of the late dictator Ferdinand Marcos in a heroes' cemetery. Estrada said he was relieved the furor over the planned July 11 burial was over, adding that Filipinos couldn't afford to be divided amid the economic challenges confronting their nation. "Our foes are big and strong, especially when it comes to the economy.

Privatization to go ahead despite legal investigation

Privatization to go ahead despite legal investigation YOGYAKARTA (JP): State Minister of the Empowerment of State Enterprises Tanri Abeng said Saturday the partial divestment of the government's 65 percent stake in publicly listed PT Semen Gresik would continue despite alleged insider trading of the company's shares.

Fresh loan commitment will not boost trade in local stocks

Fresh loan commitment will not boost trade in local stocks JAKARTA (JP): Trading activities on the local stock market are expected to remain flat this week despite the signing of the US$1.5 billion loan agreement with the Asian Development Bank (ADB) and a new accord with the International Monetary Fund (IMF), stock analysts and brokers said.

Sampoerna predicts fall of machine-rolled products 20%

Sampoerna predicts fall of machine-rolled products 20% JAKARTA (JP): Publicly listed cigarette maker PT HM Sampoerna expects a 20 percent decline in the sales of its machine-rolled cigarettes this year as many consumers are switching to cheaper hand-rolled ones. The company's finance director and chief financial officer, Ekadharmajanto Kasih, said the change would, however, increase the sales of its hand-rolled brands by about 20 percent.

Olein exports continue despite lack of supply

Olein exports continue despite lack of supply JAKARTA (JP): Exports of olein, the main raw material of cooking oil, from Jakarta continues despite the shortage of cooking oil supply in the capital, a source said. A Medan-based producer said Saturday that he suspected that the exported olein originated from North Sumatra, after it was shipped to Jakarta to help the government's effort to stabilize cooking oil prices.

World Cup live show

World Cup live show * Germany v Mexico on Indosiar today at 9.30 p.m. WIT. Indonesian Time. * Netherlands v Yugoslavia on TVRI Tuesday at 2 a.m. WIT.

Servo sets up Indonesian base

Servo sets up Indonesian base JAKARTA (JP): Chemicals producer Servo Delden BV of the Netherlands has completed the construction of its manufacturing plant in Bekasi, West Java, and plans to make it a supplying base for the domestic and regional market.

Citatah reports net loss

Citatah reports net loss JAKARTA (JP): Marble producer PT Citatah Indah reported a net loss of Rp 110.16 billion (US$7.86 million) in the first three months of this year due to a huge foreign exchange loss, the company announced over the weekend. The company said that in the January to March period, sales surged to Rp 65.32 billion due to a significant increase in exports. But the foreign exchange loss of Rp 109.35 billion in that period put the company in the red.

IMF to ask Japan for extra $1b

IMF to ask Japan for extra $1b TOKYO (Dow Jones): The International Monetary Fund will ask Japan to extend an additional US$1 billion in emergency lending to Indonesia to help the government continue paying off its external debt, the Nihon Keizai Shimbun's Sunday edition quotes IMF sources as saying. The new lending would be part of a $6 billion loan package the IMF plans to put together by mid-July.

Nation 'must learn to respect differences'

Nation 'must learn to respect differences' JAKARTA (JP): The nation must learn to respect ethnic and political differences, including the establishment of new political parties, if it wishes to build a true democratic society, observers say.

Changing the system to teach democracy

Changing the system to teach democracy By Mochtar Buchori JAKARTA (JP): Politics and the economy constitute the core of our current reform movement. In addition talk has also been heard about the urgency of legal reform. But until very recently no sign has been seen or heard of the need for reform in the field of education. It is only during these last two weeks that educationists, educators and education bureaucrats have begun to talk about educational reform.

Sectarianism against the political trend

Sectarianism against the political trend Political parties formed along religious and ethnic lines have emerged in recent weeks. Ulil Abshar Abdalla of the Agency for Human Resources Research and Development at Nahdlatul Ulama (NU) addresses the public fears of rising sectarian politics. Question: Are Indonesians becoming sectarian? Ulil: Not necessarily. These new parties have been encouraged by increasing opportunities for people to express their political aspirations.

House robbed after owners receive warning

House robbed after owners receive warning JAKARTA (JP): A group of five men armed with sharp weapons broke into a house at Jati Padang, South Jakarta, Saturday morning, taking the family's Kijang van and several electronic goods, police said over the weekend. No fatalities were reported but a member of the family got his arm slashed with a machete by one of the robbers, City Police spokesman Lt. Col. E. Aritonang said.

ABRI's responsibility

ABRI's responsibility One of the delicate problems that the ABRI (Indonesian Armed Forces) leadership faces at the moment is how to carry out -- with the greatest measure of responsibility -- President Habibie's order to uncover the facts behind allegations that certain (unnamed) parties were behind the riots, the looting and the arson that occurred in Jakarta on May 13 and May 14.

Diarrhea breaks out in Aceh

Diarrhea breaks out in Aceh BANDA ACEH, Aceh: As many as 189 people in the mayoralty here and in the Aceh Besar regency have been treated for diarrhea over the past week, Antara reported Saturday. Quoting the head of the provincial health office Sarifudin, the news agency said the outbreak had resulted from a lack of basic hygiene. One hundred and ten of the reported cases of diarrhea were from the Banda Aceh mayoralty, he added.

Stuck-up crew member

Stuck-up crew member From Kompas I refer to Fifi Haryanti's letter in Kompas of May 3 in which she criticized the attitude of an Ansett crew member. I am not surprised that there are still Indonesians who think that western people with blond hair and blue eyes are a superior species which warrants more polite treatment. Her experience in the airplane is one case among many similar cases that I know of.

Servitia plans rights issue

Servitia plans rights issue JAKARTA (JP): Publicly listed Bank Servitia plans to offer 800 million new shares in a limited public offering next month to increase its capital. The bank said in a statement that proceeds of the rights issue, expected to reach about Rp 400 billion (US$27.58 million) would increase the bank's capital to Rp 500 billion from Rp 100 billion currently. It said that shareholders would be allowed to buy new shares at Rp 500 each for each share they already hold.

Economic crisis: Japan bites the banking bullet

Economic crisis: Japan bites the banking bullet By Alex Brummer TOKYO: The signs are that the Japanese government is finally facing up to the reality of its financial crisis. Unless it fixes banking -- as it promised its partners in the Group of Seven industrialized nations -- the threat posed to the real economy is almost too ghastly to contemplate.

327 students start internships

327 students start internships JAKARTA (JP): At least 327 University of Indonesia students will participate in corporate intern programs to gain knowledge, experience and skills. Bhenyamin Hoessein, an internship coordinator, said 261 of the 327 students in the 21-day program, which starts today, are studying at the D-III education level in the university's school of social and political sciences. The other 66 are from the school's undergraduate program, he said.