Indonesian Political, Business & Finance News

Archive: 5 June 1998

55 articles found

The complication of managing the Earth's atmosphere

The complication of managing the Earth's atmosphere By Bambang Hidayat BANDUNG (JP): Our comforting belief that the earth's climate was essentially unchanged through the ages has been shot down. Meteorological data compiled over the past century, augmented by recent findings from space observation of the earth, shows convincingly that the earth is warming and that its atmosphere has undergone continuous change.

Ministry to speed up textile quota sharing

Ministry to speed up textile quota sharing JAKARTA (JP): The Ministry of Industry and Trade said yesterday it would speed up the allocation of new export quotas for textile and textile products. The ministry's export director, Sudar, said yesterday the early allocation of new quotas was aimed at grasping market opportunities from rival countries.

New deal on debt talks revive market sentiment

New deal on debt talks revive market sentiment JAKARTA (JP): A fresh deal on restructuring the country's US$80 billion private-sector debt brought fresh hope to Indonesia's battered financial market yesterday. Securities dealers said that share prices, which had been under strong selling pressure over the past several days, had a rare increase, pushing up the main price index to close 3.5 percent higher. The rupiah, which opened at 11,600 per U.S.

Stable rupiah crucial for China: ADB chief

Stable rupiah crucial for China: ADB chief HELSINKI (Reuters): Asian Development Bank (ADB) president Mitsuo Sato said yesterday that stabilizing the Indonesian rupiah and other Asian currencies was key to relieve devaluation pressures in China. "The key factor is whether we can stabilize the Indonesian rupiah as soon as possible," Sato told a news conference in Finland.

Stock Exchange

Stock Exchange Stock prices on the Jakarta Stock Exchange (in rupiah) on June 4, 1998: Shares Close Change Trading Volume -------------------------------------------------------------- Ades Alfindo 425 0 0 AHAP Insurance 550 0 0 Alter Abadi 600 0 848,500 Alumindo Light Metal 400 125 1,418,000 Alumindo Perkasa 275 0 0 Aneka Kimia Raya 350 50 23,500 Aneka Tambang 1,475 75 6,174,000 Anwar Sierad 150 25 28,500 Apac Centertex Corp.

FIA cancels Indonesia Rally

FIA cancels Indonesia Rally PARIS (AP): The world governing body of motor sports Wednesday dropped the Rally of Indonesia from the 1998 race calendar. The FIA, in a short statement, said it had withdrawn the September rally from the schedule because of "the current situation in Indonesia and difficulties with transportation of material for competing teams." The FIA said the schedule would be reduced from 14 to 13 events.

Togolese caught with 8.6kg of heroin

Togolese caught with 8.6kg of heroin JAKARTA (JP): Customs officers at Soekarno-Hatta International Airport have arrested a 30-year-old Togolese for allegedly smuggling 8.6 kilograms of first-grade opium alkaloid into the country inside a 21-inch television set, an official said yesterday.

RI, creditors strike private debt deal

RI, creditors strike private debt deal FRANKFURT (Reuters): The Indonesian debt negotiation team and the country's creditor banks said yesterday they had reached agreement on a comprehensive program to address Indonesia's external debt problems. The program comprises three initiatives relating to private sector corporate debt, external credit to the Indonesian banking system and trade finance, the two sides said in a statement.

Emil urges Habibie to hold poll in December

Emil urges Habibie to hold poll in December JAKARTA (JP): Leading opposition figure Emil Salim has announced his withdrawal from a presidential consultative group formed by President B.J. Habibie, and demanded that a general election be held by December. In a written statement, Emil expressed "disappointment" at recent developments, including Habibie's recent statement that polls would be held next year.

'Si Doel' named as Unicef ambassador

'Si Doel' named as Unicef ambassador JAKARTA (JP): Actor and director Rano Karno was declared Indonesia's first national ambassador for the United Nations Children's Fund (Unicef) yesterday. Rano, 38, a member of the People's Consultative Assembly, received the honorary title from Coordinating Minister of People's Welfare and Poverty Eradication Haryono Suyono.

Local environment is never given enough attention

Local environment is never given enough attention The World Environment Day, which falls today, is a reminder of the need to protect the environment. Below is a series of articles in commemoration of the day. JAKARTA (JP): While the world celebrates World Environment Day today, the environment still fails to draw the full attention of our government, which places the economy and politics as top priority.

Bogor police to release Juanda students today

Bogor police to release Juanda students today BOGOR (JP): The police will release three Juanda University students this morning after detaining them for almost a month on charges of allegedly mobbing to death a senior officer. Speaking on behalf of the Bogor Regional Police chief, deputy chief Lt. Col. Pranowo told The Jakarta Post yesterday that the students would be freed at 9 a.m. today on three conditions. "First, they are not allowed to flee.

Analysts, investors hail RI debt deal

Analysts, investors hail RI debt deal LONDON (Reuters): Analysts and investors mostly hailed the agreement on the debt rescheduling signed by Indonesia and international banks in Frankfurt yesterday. The rescheduling program comprises three initiatives relating to private sector corporate debt, external credit to the Indonesian banking system and trade finance.

Bengkel Peduli at Bengkel Nightpark

Bengkel Peduli at Bengkel Nightpark JAKARTA (JP): Bengkel Nightpark is to hold a fashion show titled Bengkel Peduli 1998 (Bengkel Cares 1998), featuring about 100 collections presented by noted models from Look Model Inc. tonight. Dandan Hamdani, Bengkel Nightpark's spokesman, said in a statement that the show was being held in conjunction with the commemoration of the nightpark's first anniversary jointly with Radio Prambors, Look Models Inc., Populo and Rotaract Club Jakarta Metropolitan.

Governor suspends several megaprojects

Governor suspends several megaprojects JAKARTA (JP): The city administration has been forced to suspend a number of major development projects included in the 1998/1999 budget because of the prolonged monetary crisis, Governor Sutiyoso said. Sutiyoso said on Wednesday that among the suspended projects were the controversial three-tier transit system, the Manggarai integrated bus terminal and the Jakarta Bay land reclamation project.

Conversion Rates

Conversion Rates Jakarta (JP): Bank Ekspor Impor Indonesia's (Bank Exim) indicative conversion rates on June 4, 1998: Buying Selling Rp Rp U.S.

SEAB customer's complaint

SEAB customer's complaint JAKARTA (JP): A customer of South East Asian Bank (SEAB), which was liquidated last November, has complained about the difficulty in recovering a large part of her savings from the bank. The customer, Indrawati Halim, said she had only received some Rp 30 million of the Rp 100 million in the account, suspecting that the remainder had been embezzled by irresponsible bank employees. "I don't know where else I can turn too.

Habibie not elected

Habibie not elected I wonder where Mr. Muhd. Ramzy Hasibuan was on May 20 and May 21 (President Habibie's legitimacy, Your Letters, June 4) when news started swirling about that Soeharto was going to step down, culminating in Habibie's rise to the presidency. Habibie was not elected, Mr. Hasibuan, he was appointed.

Rights body to probe Aceh 'mass killings'

Rights body to probe Aceh 'mass killings' JAKARTA (JP): The National Commission on Human Rights will soon begin investigating reports that more than 39,000 Acehnese have died in various military operations over the past decade and that 1,000 others are still in military detention in Indonesia's westernmost province. The commission will set up a fact-finding team by the end of this month to probe the allegations, commission member B.N.

A questionable show

A questionable show President B.J. Habibie has been surprisingly generous to the foreign media. If it were only so with the local news media as well. Habibie's recent statement to The New York Times saying that he had a better feel for the younger generation than his predecessor, Soeharto, sounds a little ironic.

Women's crisis center

Women's crisis center In various recent happenings, mainly since security forces took repressive measures against reform activists on student campuses and other places, social, economic and political impacts of a detrimental nature have been strongly felt in the marginal community.

Insured victims of riots may not get their money: Brokers

Insured victims of riots may not get their money: Brokers JAKARTA (JP): The Association of Indonesian Insurance Brokers (ABAI) hailed the Insurance Council of Indonesia's decision to approve payments to victims of the recent rioting, but warned that a banking clause in some policies may prevent the claimants from receiving their money.

Indofood's profit plunges

Indofood's profit plunges JAKARTA (JP): Publicly listed PT Indofood Sukses Makmur, the world's largest noodle maker, reported yesterday a 70 percent decline in net profit in the first quarter this year from the same period last year. The figure of Rp 28.29 billion (US$2.57 million) was down from Rp 97.36 billion.

SCB names new executive

SCB names new executive SINGAPORE (Dow Jones): Standard Chartered Bank (SCB) has appointed Lee Boon Huat, 40, as regional head of treasury for Southeast Asia. Lee succeeds Mike Rees, who remains in Singapore to run the treasury business for the entire Standard Chartered Group. Lee has worked previously for the Monetary Authority of Singapore in both Singapore and New York, as well as for Chemical Bank, Hongkong & Shanghai Banking Corp. and Canadian Imperial Bank of Commerce.

Bush calls on Singapore PM

Bush calls on Singapore PM SINGAPORE (DPA): Former United States President George Bush called on Singapore Prime Minister Goh Chok Tong in Singapore yesterday, officials in the island republic said. Bush was in Singapore overnight on a private visit, according to a U.S. Embassy spokesman. "It's strictly a private visit. He (Bush) is a private citizen," the spokesman said. Bush met Goh at noon in a suite at Singapore's historic Raffles Hotel.

HK, Taiwan stocks slide, Jakarta shares climb

HK, Taiwan stocks slide, Jakarta shares climb SINGAPORE (Reuters): A hefty fall in U.S. stocks overnight forced some key Asian markets into retreat yesterday, but the overall picture was mixed as investors drew breath after recent heavy losses. Shares in Hong Kong and Taiwan fared worst in the wake of Wall Street's one percent slide, each falling nearly three percent.

PPP wants assets of Soeharto frozen

PPP wants assets of Soeharto frozen SURAKARTA, Central Java: The Surakarta branch of the United Development Party (PPP) has sent letters to at least nine heads of government asking them to freeze assets belonging to former president Soeharto. The letter, signed by Surakarta branch chairman M. Sangida and secretary Zaenal Ma'arif, was sent yesterday through the embassies of the respective countries in Jakarta.

12 officers killed in E. Timor helicopter crash

12 officers killed in E. Timor helicopter crash JAKARTA (JP): The Udayana Regional Military Commander, Maj. Gen. Yudomo Sastrosuhardjo, and Col. Salamat Sidabutar, the chief of the Wira Dharma Military Command in East Timor, were killed yesterday when their helicopter crashed near Liaruca village in East Timor. Army spokesman Brig. Gen. I Dewa Putu Rai confirmed that all 12 aboard the Bell 205 helicopter were killed. He said the crash occurred at 10:21 a.m.

3 men wounded in taxi robberies

3 men wounded in taxi robberies JAKARTA (JP): Three people were injured and Rp 34 million in cash stolen in separate armed robberies on Monday and Tuesday, police said. Jakarta Police spokesman Lt. Col. E. Aritonang said one of the incidents took place on Tuesday in Cipinang Muara, East Jakarta. The victims, Mahadi Hamid, 53, and Sugiyo, 40, were getting out of a President Taxi after withdrawing Rp 34 million from a nearby bank to pay the salaries of their high school employees, he said.

54 hectares of rice fields flooded

54 hectares of rice fields flooded TANGERANG (JP): About 54 hectares of paddy fields, which were ready for harvest, in Tiga Raksa and Cisoka districts, were inundated Wednesday after the nearby Cipayaeun and Manceri rivers burst their banks. Besides destroying the paddy fields, the flooding also ruined 12 hectares of secondary crops, ranging from vegetables to peanuts, according to Antara.

Govt launches drive to combat corruption

Govt launches drive to combat corruption JAKARTA (JP): The government says it is launching tough measures to combat corrupt and collusive practices in the bureaucracy in a bid to provide the public better services and to create a clean administration. Coordinating Minister for Development Supervision and State Administrative Reform Hartarto Sastrosoenarto told the media after meeting with President B.J.

Shareholders meeting of ailing Sempati Air delayed

Shareholders meeting of ailing Sempati Air delayed JAKARTA (JP): Sempati Air's shareholders meeting scheduled yesterday to decide the future of the ailing private airline was canceled because many of the shareholders could not attend. Sempati spokeswoman Rima Novianti said the new date for the shareholders meeting had not been fixed. The airline is partly owned by former president Soeharto's youngest son Hutomo "Tommy" Mandala Putra.

La Nina on the way

La Nina on the way SINGAPORE (Reuters): A "fairly strong" La Nina is likely to bring heavy rains and possible floods to Southeast Asia, much of it parched for more than a year by El Nino, Singapore weather forecasters said yesterday. Singapore Meteorological Service spokesman Wong Teo Suan told reporters that La Nina was likely to set in late this year after the El Nino effect had faded. Both weather phenomena result from abnormal swings in the temperature of the eastern Pacific Ocean.

Govt to review all rice import procurement deals

Govt to review all rice import procurement deals JAKARTA (JP): The government is to review the country's rice import arrangements, including the overseas procurement contracts signed by the State Logistics Agency (Bulog), in anticipation of a declining supply in the international market. Minister of Trade and Industry Rahardi Ramelan said that the review was essential to make sure existing import deals would not only rely on certain countries.

Curtail on-campus politics: Habibie

Curtail on-campus politics: Habibie JAKARTA (JP): President B.J. Habibie has told university rectors to facilitate campaigns for reform but to prevent campuses being turned into political arenas. "I am calling on the minister of education and culture (Juwono Sudarsono) and the director of tertiary education not to allow campuses to be turned into political arenas. Have pity on the 'kids'," Habibie told a gathering of 55 rectors of state and private universities at his office yesterday.

Business leaders brief Habibie on economic crisis

Business leaders brief Habibie on economic crisis JAKARTA (JP): Business leaders briefed President B.J. Habibie yesterday on the critical condition of the economy and called for more concerted efforts to revive the banking industry, the source of lifeblood for economic activity.

Legal changes needed in new era

Legal changes needed in new era By Mulyana W. Kusumah JAKARTA (JP): Soeharto's obsession with political stability is reflected in the current laws on politics. The result is an array of the People's Consultative Assembly (MPR) decrees and legislation tailored to maintain political stability, but failing to abide by the people's sovereignty. These legal instruments, while serving their master well, had an adverse effect on political attitude, structure and culture.

Parents buy school places

Parents buy school places BANGKOK (DPA): The majority of Thai parents pay "tea money," or small bribes, to assure places for their children in prestigious local schools, a poll revealed yesterday in Bangkok. A survey conducted by Rajabhat Institute Suan Dusit showed that 74.97 percent of the respondents said they had paid bribes to university staff or brokers to assure their children places in Thai universities.

Palm oil prices steady

Palm oil prices steady LONDON (Reuters): Further talk in Asia of Indian palm oil tenders coupled with higher Chicago futures overnight supported opening prices on the European vegetable oil market yesterday. News that Malaysia is to sell 300,000 metric tons of palm oil to China in exchange for two million tons of Chinese corn had little impact on the market. Crude palm oil opened $5 down to $2.50 up, while products were unchanged to $5 higher.

Negative aspects of democracy

Negative aspects of democracy Now that Indonesia is to have a new political system, which will probably be more democratic than the old one, it is worth keeping in mind some general weaknesses of democratic political systems. First, the people may choose leaders who are unwise, dishonest and incompetent. To prevent this, electors should be as aware and as well-informed as possible.

UN declares war on Indonesian forest fires

UN declares war on Indonesian forest fires SINGAPORE (AP): Wartime resources are needed to put out the remaining Indonesian forest fires, but there is still a good chance of new fires and more haze over Southeast Asia, a senior United Nations official said yesterday. "It is not merely firefighting anymore. It is a war against the fires," said Jorge Illueca, assistant executive director of the UN Environment Program.

Educational reform

Educational reform In relation to the present social condition, I would like to suggest the following: a. Many people have lost their jobs because of the monetary crisis and the recent shop burning and looting, which has forced many businesses to close down. To these people, sending children to school is quite a burden. Therefore, to help alleviate this burden, they must be exempted from paying anything in regard to their children's schooling.

Joseph Estrada shown secrets of new home

Joseph Estrada shown secrets of new home MANILA (Reuters): Incoming President Joseph Estrada was shown the palace yesterday which will be home for the next six years, including a disco and secret passages to escape rebel attacks and pestering journalists. President Fidel Ramos, who acted as guide for the former movie actor, said the tour showed the world that unlike some countries, the transfer of power in the Philippines was friendly and peaceful.

TV today

TV today TVRI 2:00 p.m. News: Berita 14 2:30 Music 2:35 Cartoon: Tom and Jerry Kids 3:05 Social Program: Harmoni Kehidupan 3:30 Village Program 4:00 Regional News 4:30 Performance: Cakrawala Budaya 5:00 Music: Paket 27 5:30 Educational Quiz: Cepat Tepat 6:00 News: Lintasan Berita 6:05 My Country: Rona Nusantara 6:15 Sports 6:30 TVRI News (in English) 7:00 Evening News 7:35 Entertainment News: Lintasan Sinetron 8:00 News: Lintasan Berita 8:05 Technology Program: Dunia Teknologi 8:30 Talk Show:...

Activist gives public account of abduction

Activist gives public account of abduction JAKARTA (JP): Disappeared activist Rahardjo Waluyo Djati became yesterday the third person to publicly recount his kidnapping, which featured torture and interrogation about his political activities and links. Rahardjo, 28, a member of the National Committee for Democratic Struggle (KNPD), said he was kidnapped here by several armed men on March 12 and released on April 25.

Some Soeharto-linked firms to keep Pertamina contracts

Some Soeharto-linked firms to keep Pertamina contracts JAKARTA (JP): State oil and gas company Pertamina said yesterday it would maintain its contracts with former president Soeharto-linked contractors and suppliers, provided they were efficient and the government allowed them to continue their operations. The secretary of Pertamina's board of commissioners, Rachmat Soedibjo, told The Jakarta Post that some Soeharto-linked companies were run efficiently.

Uncaring project boss imprisoned

Uncaring project boss imprisoned KENDARI, Southeast Sulawesi: The Kendari State Court sentenced Mursalim Kasri to two years in jail yesterday after finding him guilty of manipulating Rp 63 million (US$5,478) disbursed by a Canadian aid group. Mursalim was head of the development of a clean water and sanitation project worth Rp 144 million which was funded by CARE. In February 1996 Mursalim went to Surabaya, East Java, to purchase the 12,597 meters of pipes for the project.

Group to looks into reports of sexual abuse during riots

Group to looks into reports of sexual abuse during riots JAKARTA (JP): Women's rights group Mitra Perempuan said yesterday it would conduct its own inquiry into numerous reports of sexual abuse of women during the rioting last month. The group's executive director Rita Serena Kolibonso told The Jakarta Post it was prompted to launch its own investigation because of the litany of reports of rape, abuse and public humiliation of women, particularly those of Chinese descent.

Open bid planned for Krakatau's shares

Open bid planned for Krakatau's shares JAKARTA (JP): The government is to invite international bidders to buy part of the country's largest steel producer, PT Krakatau Steel, next week, State Minister of the Empowerment of State Enterprises Tanri Abeng said yesterday.

Tanah Abang area again hit by clashes

Tanah Abang area again hit by clashes JAKARTA (JP): At least two youngsters were severely injured in two separate clashes between Betawi (native Jakartan) residents of Kebon Melati and occupants of the Mess Cendrawasih boarding house from Irian Jaya in Tanah Abang, Central Jakarta, yesterday afternoon. The first clash began at 4.30 p.m. after Farid, a 19-year-old Betawi resident, was attacked by an unidentified youth who lives in the boarding house. "Farid was parking his motorbike near Jl.

Medan fares hiked

Medan fares hiked MEDAN, North Sumatra: The North Sumatra provincial administration has decided to raise public transportation fares following the government's decision to raise fuel prices last month. The fare for city minivans was raised from Rp 350 (3 U.S. cents) to Rp 475 per person and public buses from Rp 350 to Rp 375 per person. The flag fall for taxis has been raised from Rp 1,250 to Rp 1,700 with the rate for each kilometer being hiked to Rp 800.

Political changes hurt sports bodies

Political changes hurt sports bodies JAKARTA (JP): Indonesian sports are feeling the pinch of financial shortages due in part to their heavy dependence on the patronage of former president Soeharto's families and cronies, a sports executive said yesterday.

Tadjus deplores councilors' harsh attack on Sutiyoso

Tadjus deplores councilors' harsh attack on Sutiyoso JAKARTA (JP): Head of Golkar's Jakarta chapter Tadjus Sobirin yesterday responded harshly to criticism by several city councilors over Governor Sutiyoso's plans to remove collusion, corruption and nepotism from the city administration. Tadjus said the councilors' criticisms were just political maneuvering. "It was just a political ploy. What are their goals? Of course, to undermine the governor," he said.

'SCTV' schedules 54 hrs of W. Cup

'SCTV' schedules 54 hrs of W. Cup JAKARTA (JP): Private station SCTV will air 54 hours of World Cup soccer from June 10 to July 12. Uki Astama, SCTV's spokesman told The Jakarta Post yesterday that the 54 hours of World Cup soccer from France were wrapped up into one package called Gempita Piala Dunia (World Cup Extravaganza). It includes 15 live broadcasts and five reruns. "All the broadcasts will be in the mornings and in the evenings, according to the schedule," Uki said.

Thai exporters resume Indonesian rice shipments

Thai exporters resume Indonesian rice shipments BANGKOK (Reuters): Thai rice prices firmed this week as some exporters resumed shipments to Indonesia and Iran began purchasing actively, trade sources said yesterday. But exporters were still reluctant to take fresh orders from Jakarta and were trying to get the Thai government to help shoulder risks, they said.