Indonesian Political, Business & Finance News

Archive: 1 July 1998

56 articles found

European vegetable oil traders wary of Indonesia

European vegetable oil traders wary of Indonesia LONDON (Reuters): European vegetable oil traders are keeping a wary eye on the supply situation in Indonesia, where high exports of crude palm oil are causing local supply problems. Indonesian traders estimate that exports of crude palm oil doubled in June to 200,000 tons from 100,000 in May.

Bekasi mayor fights against vice

Bekasi mayor fights against vice BEKASI (JP): Bekasi Mayor Nonon Sonthanie is determined to fight prostitution, which is believed to be on the rise in the city. He said there is no place for prostitutes to operate here. "Don't ever dream that there will be a redlight district here. We will take stern measures against those violating existing rules, including hookers on the streets," the mayor was quoted by Antara as saying.

A dangerous sluggishness

A dangerous sluggishness Some of the extremely dangerous problems this nation is facing really need to be solved immediately. The most dominant cases include the kidnapping of activists, the May riots in which acts of arson, looting and the rape of women and underage girls took place, and the shooting of four Trisakti students prior to president Soeharto stepping down. Since President B. J.

Human rights welcome Wiranto's admission cautiously

Human rights welcome Wiranto's admission cautiously JAKARTA (JP): Human rights groups have welcomed cautiously Minister of Defense and Security Affairs/Armed Forces (ABRI) Commander Gen. Wiranto's admission that some members of the military were involved in the abductions of political activists.

IMF says $41b deal enough for RI

IMF says $41b deal enough for RI WASHINGTON (Reuters): Indonesia's existing US$41 billion rescue package from the international community will likely be enough to meet a financing gap forecast in the country's latest International Monetary Fund plan, the IMF's second most senior official said on Monday. "I do not think it is an enlargement of the package," First Deputy Managing Director Stanley Fischer told Reuters in an interview.

Malaysian Open falls prey to Asian crisis

Malaysian Open falls prey to Asian crisis PENANG, Malaysia (Reuters): The Malaysian Open badminton championships starting today have fallen victim to the Asian economic crisis which has cut prize money by US$60,000 and deprived the event of some big names. The smaller purse of $120,000 this year has made the championship a four-star event, compared to its six-star status last year when it was worth $180,000. One notable country with top players missing was Indonesia, officials said on Tuesday.

Exhibition highlights modern India sticks to its traditions

Exhibition highlights modern India sticks to its traditions By Izabel Deuff JAKARTA (JP): Unity in diversity, the Indonesian motto of Bhineka Tunggal Ika, is also India's. It could well summarize the week-long Indian Photo Exhibition held at the National Museum. The exhibition here ends today, but it will tour Medan later this month. It is organized by the Embassy of India as part of the celebration of the 50th year of India's Independence.

Keep up your good work!

Keep up your good work! Since we are leaving Indonesia on July 1, at the end of our four-year contract with the United Nations Development Program, I am reluctantly obliged to terminate my subscription to The Jakarta Post by end of June 1998. In saying goodbye, I would like to express my appreciation to your journalists and to the editors for a remarkable performance over the four years. I truly enjoyed reading your paper every day, from June 15, 1994 until today.

Garuda denies report

Garuda denies report Referring to your report entitled Garuda pilots ignore bomb threats, continue flights (June 28, page two), to avoid misperception on behalf of the readers and in order to put the report into proportion, I would like to clarify as follows: It is completely untrue that Garuda Indonesia's pilots ignored the bomb treats.

Planned meeting of Golkar improper: Try

Planned meeting of Golkar improper: Try JAKARTA (JP): Former vice president Try Sutrisno said yesterday that the planned meeting of Golkar's three major elements on Monday evening was against the proper procedures of the organization and thus had to be canceled. Try, the deputy chairman of Golkar's board of patrons, said the meeting was canceled by President B.J. Habibie after consulting with members of the board on Sunday evening.

President B.J. Habibie names new MPR members

President B.J. Habibie names new MPR members JAKARTA (JP): President B.J. Habibie has appointed 41 new members of the People's Consultative Assembly (MPR) to replace members who he retired, had resigned or passed away. There was no explanation about the decision to retire existing members, all of whom were selected by former president Soeharto from functional groups to represent the dominant Golkar faction.

Soeharto still controls Golkar

Soeharto still controls Golkar What we witnessed on Monday was nothing other than the fact that (the ruling party) Golkar is still in turmoil. First, there was the issue of the grouping's planned coordinating meeting, which was to be held at the Armed Forces Headquarters at Cilangkap. Second, a request was subsequently received for the cancellation of the Cilangkap meeting. The request was made by H.M. Soeharto, the former president, and was presented by (former vice president) Try Sutrisno.

New armed robbery adds to crime spate

New armed robbery adds to crime spate JAKARTA (JP): The city's recent rash of violent crime continued in the early morning hours yesterday when a group of armed robbers broke into the house of a diamond jeweler. Seven men, armed with guns and sharp weapons, broke into the house of Sobirin Tanjung, alias Herlina, who police identified as a transvestite, on Jl. Subur Ujung No. 4 at Menteng Atas, South Jakarta. The head of the South Jakarta Police detective unit, Maj.

High temperatures kill coral reef

High temperatures kill coral reef BANGKOK (Reuters): Rising sea temperatures off the east coast of Thailand could destroy some of the country's most precious underwater coral, a leading Thai scientist said yesterday. Suraphol Sudara, head of the marine science department at Bangkok's Chulalongkorn University, said coral in the Gulf of Thailand had been bleached as the algae which gives the coral its color had been forced out by rising sea temperatures.

Myanmar man arrested with 3.4kg of heroin

Myanmar man arrested with 3.4kg of heroin JAKARTA (JP): Customs officers and police detectives have arrested a man from Myanmar at the Soekarno-Hatta International Airport for allegedly smuggling 3.4 kilograms of high-grade heroin into the country, an official said yesterday. National Police Detective Corps commander Brig. Gen. Da'i Bachtiar told reporters that Maung Ohn Tin, 34, was handcuffed upon arrival Monday evening from Bangkok on Thai Airways flight number TG-985.

Malaysia's new airport opens

Malaysia's new airport opens SEPANG, Malaysia (AP): The first flight from Malaysia's new US$2.5 billion airport carried Prime Minister Mahathir Mohamad up into clear skies yesterday, but teething troubles angered hundreds of ordinary passengers. Mahathir flew to the northern resort town of Langkawi on Malaysia Airlines MH 1432 along with his wife, Siti Hasmah Mohd. Ali, and the airlines's executive chairman, Tajudin Ramli.

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: Jack of the Avonlea 3:05 Family's Film: Road to Avonlea 4:00 Regional News 4:30 Teen Program: Remaja Indonesia 5:00 Teen Drama: Angan-Angan 5:30 Education Quiz: Cepat Tepat 6:05 My Country: Rona Nusantara 6:15 Sports 6:30 TVRI News (in English) 7:00 Evening News 7:35 TV Drama: Janji Mama 8:05 Literature Program: Dunia Buku 8:30 News: Laporan Peristiwa 9:00 World News 9:30 World Cup Journal...

Conversion Rates

Conversion Rates JAKARTA (JP): Bank Ekspor Impor Indonesia's (Bank Exim) indicative conversion rates on June 30, 1998: Buying Selling Rp Rp U.S.

Police too slow in probing forest fires: Minister

Police too slow in probing forest fires: Minister JAKARTA (JP): Minister of Forestry and Plantations Muslimin Nasution criticized the police yesterday for not moving to investigate 26 timber and plantation companies allegedly responsible for some of the country's recent forest fires. "The 26 companies have been reported to the police. But the police have yet to follow up on the reports," he told journalists.

Soldiers fire rubber bullets

Soldiers fire rubber bullets BEKASI (JP): Protesting employees of steel manufacturer PT Gunung Garuda in Kampung Tengsi, in Cibitung, (left photo) clashed with military personnel yesterday, prompting the soldiers to shoot at least 20 of them with rubber bullets. The injured were immediately rushed to Bhakti Husada hospital at Cikarang for treatment.

MPI has new chairman

MPI has new chairman JAKARTA (JP): The Indonesia Forestry Society (MPI) has appointed Sudrajat D.P. as its chairman for the 1998/2003 tenure, replacing Abbas Adhar, who has held the position for only three months. The organization said yesterday that the replacement was decided at the organization's national meeting Monday.

Reforestation funds 'should be returned'

Reforestation funds 'should be returned' JAKARTA (JP): Minister of Forestry and Plantations Muslimin Nasution said yesterday he would try to get back reforestry funds used to buy shares of a company set up to finance domestic jet manufacturing. "Reforestry funds should not be used for projects not related to reforestation. God willing, we will get it back," Muslimin said after giving an address at a meeting of timber and plantation company executives.

50,000 places still available

50,000 places still available SEMARANG: Despite the financial difficulties faced by many parents throughout the country, university students have apparently forgotten that some 50,000 government scholarships are still available. "Out of the 70,000 university scholarships made available, only 20,000 have so far been taken up," the director for private universities in the education ministry, Joetata Hadihardaja, said here yesterday.

'Ojek' driver stabbed to death

'Ojek' driver stabbed to death JAKARTA (JP): A 40-year-old ojek (motorcycle taxi) driver was found dead in fields outside Cikadongan village in Bekasi yesterday morning. The man, identified as Nesim from Telajung village in Setu, had suffered five severe stab wounds to his back and one to his neck. His identification card and three-year-old Suzuki motorcycle were missing and are believed to have been stolen by his killer.

Amien sets out his agenda for total reform

Amien sets out his agenda for total reform BOGOR, West Java (JP): Opposition figure Amien Rais set out yesterday his agenda of political, economic and legal reforms and warned that efforts to conduct these reforms should not be sidetracked by concerns over scarcity of basic commodities. Amien said that while the provision of basic commodities was important, the nation must not lose the momentum of reform which could be exploited by "old forces" to regain power.

Don't use the word 'Chinese'

Don't use the word 'Chinese' From Pikiran Rakyat Allow me to express my disapproval to the Chinese-Indonesian Reform Party, which is one of the many new parties springing up everywhere. As an Indonesian of Chinese descent, I don't think the party reflects the aspirations of Indonesians of Chinese descent.

SE Asian currencies rise after Japanese yen rallies

SE Asian currencies rise after Japanese yen rallies SINGAPORE (Dow Jones): Caught short by the rally of the Japanese yen, market players bought back Southeast Asian currencies during Asian trading hours yesterday, driving the regional currencies higher against the U.S. dollar. The Malaysian ringgit and the Singapore dollar led the move as the U.S.

Audit Soeharto's companies

Audit Soeharto's companies Allow me to propose to Minister of Finance Bambang Subianto and Director General of Taxation Anshari Ritonga that they should have the audacity to audit companies whose shares are controlled by the Soehartos, the family of Indonesia's former president, in the interests of taxation. The shares of these companies may be controlled by the children, sons/daughters-in-law, grandchildren, in-laws and siblings of both Soeharto and his late wife Tien.

Stock Exchange

Stock Exchange Stock prices on the Jakarta Stock Exchange (in rupiah) on June 30, 1998: Shares Close Change Trading Volume ------------------------------------------------------- Ades Alfindo 450 0 0 AHAP Insurance 575 0 0 Alter Abadi 475 -25 276,500 Alumindo Light Metal 350 75 123,500 Alumindo Perkasa 200 0 0 Aneka Kimia Raya 150 -25 20,000 Aneka Tambang 1,500 0 1,486,500 Anwar Sierad 125 25 165,500 Apac Centertex Corp.

Masyumi rehabilitation sought

Masyumi rehabilitation sought JAKARTA (JP): The Islamic Propagation Council in a meeting with President B.J. Habibie yesterday called on the government to restore the name of Masyumi, a dominant political party which was forced to disband by first president Sukarno in 1960. In a statement outlining the results of the meeting, the council said Habibie's restoring of Masyumi's name was much hoped for so that he did not add to the list of injustices against the party.

PT Indorama export revenues increase

PT Indorama export revenues increase JAKARTA (JP): PT Indorama Synthetics, one of the country's major polyester producers, expects to earn higher revenues from exports this year. Indorama's senior finance manager V.S. Baldwa said here yesterday that the company's export revenue had grown to 80 percent of total sales in the first half of this year, up from 60 percent for the whole of 1997.

Shop-house building torn down

Shop-house building torn down BOGOR (JP): Parts of a four-story shop-house building project on Jl. Raya Tajur in Sindangsari subdistrict here have finally been demolished as they cling to the nearby riverbank. "The destruction of parts of the project was in compliance with an agreement with the Bogor Mayoralty," Dendy Soemantri, head of Bogor Mayoralty's inspectorate, said Monday.

Sports council to ask elite for Asiad cash

Sports council to ask elite for Asiad cash JAKARTA (JP): The National Sports Council has invited members of the country's business elite who have in the past supported sports development in the country to a meeting to discuss a program to raise funds for the team competing in the 13th Asian Games in Bangkok in December. Council chairman Wismoyo Arismunandar said yesterday that he hoped the business heavyweights would renew their commitment to national sports development during the meeting.

Firms don't pay dividend

Firms don't pay dividend JAKARTA (JP): Publicly-listed firms PT Unggul Indah Corporation (UIC), PT Bank Arya Panduarta and PT Bank Indovest all booked profits last year despite the crisis but decided not to distribute dividends. UIC, the country's sole producer of chemical alkylbenzene, reported at an annual shareholders meeting yesterday that its net profit dropped to Rp 6.2 billion (about US$442,500) last year from Rp 40.7 billion in 1996.

Emergency law

Emergency law I sent a letter to the editor of The Jakarta Post in which I proposed that the government start thinking about proclaiming an emergency law (in Dutch: SOB), because of the worsening situation.

Women killed after marriage proposal

Women killed after marriage proposal JAKARTA (JP): Holding back tears and looking down at the floor, the confessed killer of the woman whose dismembered body was found in two separate places last week revealed the bizarre murder to reporters yesterday. Uki Wardana, 24, told a flock of crime reporters that he killed, mutilated and dumped the body of his girlfriend, Rahayu Chaeranti, also known as Butet, 29, all by himself.

Minimum wages raised by 15%

Minimum wages raised by 15% JAKARTA (JP): The Ministry of Manpower announced yesterday it will increase minimum wages by an average of 15 percent from Aug. 1. The move is intended to arrest the decline in real wages caused by soaring inflation, Director General of Industrial Relations and Labor Standards Mohammad Syaufii Samsuddin said.

3,000 demonstrate at Maumere council

3,000 demonstrate at Maumere council MAUMERE, East Nusa Tenggara: About 3,000 people held a demonstration in front of the council building here yesterday to demand that the price of electricity and basic commodities be reduced. The demonstrators, calling themselves the Community Alliance for Peaceful and Respectful Reform, arrived in the morning in 30 trucks.

Affirmative action could ease racial tension: Expert

Affirmative action could ease racial tension: Expert JAKARTA (JP): An affirmative action policy assisting indigenous entrepreneurs could help ease tension with Chinese- Indonesians who run most of the economy, Jusuf Wanandi of the Centre for Strategic and International Studies (CSIS) says. Indonesia should consider this option when addressing the wealth disparity between the two ethnic groups, Jusuf said.

EU ambassadors end four-day Dili trip

EU ambassadors end four-day Dili trip JAKARTA (JP): Three European Union ambassadors left Dili, East Timor, yesterday at the end a four-day visit which saw tensions rise between pro- and anti-integration supporters in the troubled province. They ended their visit with a meeting on Monday night with Dili Bishop Carlos Filipe Ximenes Belo.

BI urged to cut rates to revive economy

BI urged to cut rates to revive economy JAKARTA (JP): Prominent economist Sumitro Djojohadikusumo urged Bank Indonesia yesterday to cut interest rates in a bid to restore the ailing banking industry and revive business activities in the real sector. The economic guru also suggested that the government provide various incentives to stimulate businesses, especially export- oriented ventures.

ASEAN policy change possible

ASEAN policy change possible BANGKOK (AP): Thailand's call for the Association of Southeast Asian Nations to reconsider its policy of non-interference in the affairs of member states is supported by the regional grouping's chief, the Thai Foreign Ministry said yesterday. ASEAN Secretary-General Rodolfo Severino expressed his support for a policy of "constructive intervention" after his meeting with Thai Foreign Minister Surin Pitsuwan on Monday, said ministry spokesman Kobsak Chutikul.

Sutiyoso revokes his decision on pedicabs

Sutiyoso revokes his decision on pedicabs JAKARTA (JP): After only seven days of allowing becak (pedicabs) to operate again in the city, Governor Sutiyoso changed his mind yesterday and revoked his own decision on the man-powered three-wheeled vehicles. Sutiyoso suddenly ordered the vehicles banned again on the grounds that pedicab drivers had violated forbidden areas by operating not only in alleys and small streets, but on major thoroughfares as well.

Rupiah, stocks gain ground on private debt effect

Rupiah, stocks gain ground on private debt effect JAKARTA (JP): Indonesian markets gained ground yesterday with the rupiah improving to 14,700 against the U.S. dollar and stock prices rising 3.4 percent as private debt arrangements agreed in Frankfurt earlier last month came into affect today. Currency dealers said the improving Japanese yen, at 140 against the U.S. dollar, also contributed to the strengthening of the rupiah.

Hero needs Rp 100b to renovate outlets

Hero needs Rp 100b to renovate outlets JAKARTA (JP): The country's retail chain PT Hero Supermarket will need around Rp 100 billion (US$6.66 million) in fresh funds to renovate its damaged outlets in greater Jakarta, the company's top executive said here yesterday. Hero's president Ipung Kurnia said six of the company's 71 outlets were burned and another 10 were badly damaged during the two-day riots in mid-May.

ABN opens 4 branches here

ABN opens 4 branches here AMSTERDAM (Dow Jones): Leading Dutch bank ABN Amro Holding NV said yesterday that it has opened four new branches in Indonesia, bringing the total number of branches in the country to 14. The bank, which had to close its offices in Indonesia temporarily at the height of the social unrest earlier this year, said it has been opening new accounts in all new locations.

Parni named new general manager of 'Antara'

Parni named new general manager of 'Antara' JAKARTA (JP): Senior journalist Parni Hadi is slated to be sworn in as the new general manager of the government's Antara news agency on Friday, replacing Handjojo Nitimihardjo who has held the post since 1986. President B.J. Habibie issued the presidential decree concerning his long-time friend Parni, who is also the secretary-general of the Indonesian Journalists Association (PWI).

Clinton appeases China, in China

Clinton appeases China, in China The Jakarta Post's Asia correspondent Harvey Stockwin continues a series of articles on President Bill Clinton's current visit to China with an analysis of the ways in which Clinton appeased China -- even while the visit was proceeding.

Students should stay out of politicking: Expert

Students should stay out of politicking: Expert JAKARTA (JP): The country's students, who were at the forefront of the reform movement which led to former president Soeharto's downfall, should refrain from politicking and remain merely a neutral moral force, observers said here yesterday. Political observer Hermawan Sulistyo from the National Institute of Sciences said students must continue to remain critical regardless of who the president is or which political forces come to the fore.

New phone exchanges

New phone exchanges JAKARTA (JP): State telecommunications company PT Telkom will soon open two new automatic telephone exchanges in Sukatani and Terumajaya districts in Bekasi to replace the current rural radio technology facilities. "There are currently 317 customers in the two districts who are served using the old technology," Mulyanto, the head of Telkom's Bekasi office, said on Monday.

Building gutted by fire

Building gutted by fire JAKARTA (JP): A fire gutted the premises of all three businesses in a two-story building on Jl. Kramat Pulo in Central Jakarta yesterday afternoon. The fire started at 3:20 p.m. and was brought under control by fourteen fire engines from Central Jakarta Fire Department in one hour. No fatalities were reported and the cost of the damage had not been estimated by yesterday evening.

PDFCI needs Rp 3.2t to live

PDFCI needs Rp 3.2t to live JAKARTA (JP): The Indonesian Bank Restructuring Agency (IBRA) said yesterday it would need Rp 3.2 trillion (US$228.5 million) in fresh funding to recapitalize the debt-ridden Bank PDFCI to meet the minimum capital requirement of 4 percent by the end of this year. IBRA said in a statement that the latest audit of Bank PDFCI found that the banks's total assets were only Rp 1.8 trillion as of April 4, compared to Rp 4.4 trillion as reported by the bank's management.

Habibie gives basic needs top priority

Habibie gives basic needs top priority JAKARTA (JP): President B.J. Habibie has ordered the country's 27 provincial governors to prioritize the procurement of basic essentials for the people in their budgetary planning. The President warned the governors not to squander their limited budgets on reaching physical development targets, but to instead use remaining funds to reduce suffering in their respective provinces.

Bakrie in talks to reach debt restructuring accord

Bakrie in talks to reach debt restructuring accord JAKARTA (JP): Publicly listed PT Bakrie & Brothers said yesterday that it expected to reach an agreement with its international creditors by the end of 1998 to restructure its US$1.2 billion of overseas debt. "Talks are still going on with the foreign creditors and a solution is expected by the end of the year," finance director Nalinkant Rathod told reporters following a general shareholders meeting.

Restore managed exchange rate system: Mar'ie

Restore managed exchange rate system: Mar'ie JAKARTA (JP): Former minister of finance Mar'ie Muhammad called on the government to reintroduce a managed exchange rate system to prevent further fall in the value of the battered rupiah yesterday.

Flash floods hit Tolitoli

Flash floods hit Tolitoli TOLITOLI, Central Sulawesi: Flash floods triggered by several days of incessant rain inundated a transmigration site in Buol Tolitoli district over the weekend forcing the evacuation of 967 people. The 250 evacuated families were still waiting for the floods to subside before returning to their homes, which were standing in 50 centimeters of water yesterday morning.