Archive: 15 July 1998
47 articles found
Wed, 15 Jul 1998, 00:00 WIB
Soft loan for the poor
Soft loan for the poor TANGERANG (JP): The mayoralty has allocated Rp 2 billion in soft loans to help poor families start or develop businesses to survive the economic crisis. The loans have a 12 percent interest rate and are provided by Bank Negara Indonesia in cooperation with the National Family Planning Board (BKKBN).
Wed, 15 Jul 1998, 00:00 WIB
Conversion Rates
Conversion Rates JAKARTA (JP): Bank Ekspor Impor Indonesia's (Bank Exim) indicative conversion rates on July 14, 1998: Buying Selling Rp Rp U.S.
Wed, 15 Jul 1998, 00:00 WIB
China concerned about May riots
China concerned about May riots BEIJING (Agencies): China expressed "concern and sympathy" Monday for ethnic Chinese people attacked in bloody riots in Indonesia and called on Indonesia's government to prevent further violence. Chinese Foreign Ministry spokesman Tang Guoqiang noted that the Indonesian authorities are investigating the May riots that led to President Soeharto's resignation.
Wed, 15 Jul 1998, 00:00 WIB
Officer suspected for tampering
Officer suspected for tampering YOGYAKARTA: Police Sgt. Edy Wuryanto has been identified as a suspect for tampering with evidence in the case surrounding slain journalist Fuad Muhammad Syafruddin. Yogyakarta Military Police chief Lt. Col. Unggul K. Yudhayana said yesterday that Edy was under investigation and would be questioned this afternoon. Edy was the arresting officer of Dwi Sumaji, who was put on trial for Fuad's murder in October.
Wed, 15 Jul 1998, 00:00 WIB
Forex losses a 'time bomb' for listed firms
Forex losses a 'time bomb' for listed firms JAKARTA (JP): At least 166 of the country's 289 listed companies toppled into the red last year due to massive foreign exchange losses, the Indonesian Business Data Center (PDBI) reported yesterday. They suffered total foreign exchange losses of Rp 18.6 trillion (US$4 billion in December last year), PDBI said.
Wed, 15 Jul 1998, 00:00 WIB
KLM plans alliances
KLM plans alliances BOMBAY (Dow Jones): KLM Royal Dutch Airlines is exploring possibilities of venturing into infrastructure and airport modernization in India, Leo van Wilk, chief executive officer and president of KLM said yesterday. Addressing reporters, Wijk said he is in India to seek partnerships to implement KLM's strategic global programs, particularly in code sharing and to develop cargo infrastructure. He said there is tremendous potential in Asia and in particular in South Asia.
Wed, 15 Jul 1998, 00:00 WIB
Asian bankers urge Japan to act
Asian bankers urge Japan to act TOKYO (Reuters): Asia-Pacific central bankers, meeting in Tokyo yesterday, urged Japan to take decisive measures on its economy and agreed they would provide each other with yen in times of tight liquidity.
Wed, 15 Jul 1998, 00:00 WIB
Taiwan invests in Malaysia
Taiwan invests in Malaysia KUALA LUMPUR (AP): Taiwanese companies invested $160.5 million in 26 projects in Malaysia in this year's first six months, signaling growing business links between the countries despite the absence of diplomatic ties. Six of the projects, worth $13 million, were new while the others were expansions or diversifications of existing projects, Malaysian Trade and Industry Minister Rafidah Aziz said in Taipei Monday, the domestic news agency, Bernama, reported.
Wed, 15 Jul 1998, 00:00 WIB
Stock Exchange
Stock Exchange Stock prices on the Jakarta Stock Exchange (in rupiah) on July 14, 1998: Shares Close Change Trading Volume -------------------------------------------------------- Ades Alfindo 375 0 0 AHAP Insurance 575 0 0 Alter Abadi 525 25 1,197,000 Alumindo Light Metal 350 0 0 Alumindo Perkasa 200 0 0 Aneka Kimia Raya 200 -25 33,500 Aneka Tambang 2,475 300 49,569,500 Anwar Sierad 100 -25 16,000 Apac Centertex Corp.
Wed, 15 Jul 1998, 00:00 WIB
Changes in Golkar's makeup are only skin-deep
Changes in Golkar's makeup are only skin-deep Golkar may have picked a new leader at its congress over the weekend, but political analyst J. Soedjati Djiwandono believes the New Order's former electoral machine has failed to reform itself. JAKARTA (JP): The ruling Golkar political grouping has just ended its extraordinary congress, with a newly elected chairman, Akbar Tandjung, who is concurrently state minister/secretary in the Habibie Cabinet. The congress is normally convened in October.
Wed, 15 Jul 1998, 00:00 WIB
Yeltsin opens Youth Games
Yeltsin opens Youth Games JAKARTA (JP): Indonesia has sent two fencers and a coach to the first World Youth Games in Moscow, to be held from July 11 to July 19. Russian President Boris Yeltsin opened the Games at the Luzhniki Olympic stadium on Monday in a ceremony also attended by the International Olympic Committee chairman Juan Antonio Samaranch and Moscow Mayor Yu Luzhkov. About 7,500 athletes, ranging in age from 13 to 17 years, will represent 136 countries competed in 14 sports.
Wed, 15 Jul 1998, 00:00 WIB
Rape victims have no future
Rape victims have no future From Media Indonesia As a woman and as a member of the House of Representatives , I am deeply concerned about the recent riots which were marked by looting, burning, killing and the systematic rape of women. Most of the rape victims were women of Chinese descent. Those responsible acted in a brutal and bestial fashion. The rapists have destroyed their victims' future.
Wed, 15 Jul 1998, 00:00 WIB
Djadja visits universities
Djadja visits universities JAKARTA (JP): Jakarta Military Commander Maj. Gen. Djadja Suparman started his first day in his new job yesterday visiting universities and meeting religious and public figures. He set out at about 7:45 a.m. and toured the capital to meet with academics from Pancasila University and the Jakarta Teacher Training Institute. During his visit to the universities, Djadja said he was keen to get information from all walks of life on any topic of interest.
Wed, 15 Jul 1998, 00:00 WIB
Alatas opposes ASEAN plan on interference
Alatas opposes ASEAN plan on interference JAKARTA (JP): Minister of Foreign Affairs Ali Alatas has urged his counterparts not to be too hasty in deserting long- established tenets of noninterference among members of the Association of Southeast Asian Nations (ASEAN) and has stated that Indonesia would certainly oppose it. "Indonesia clearly does not agree with it," he replied when asked by reporters about suggestions that the noninterference principle be modified.
Wed, 15 Jul 1998, 00:00 WIB
Govt denies interfering in Golkar congress
Govt denies interfering in Golkar congress JAKARTA (JP): Newly elected Golkar chief Akbar Tandjung and Minister of Home Affairs Syarwan Hamid have dismissed allegations that the military and government officials had intervened to influence the result of Golkar's extraordinary congress. "The allegations are untrue.
Wed, 15 Jul 1998, 00:00 WIB
Firm insists on worker suspensions
Firm insists on worker suspensions JAKARTA (JP): The management of an electronics firm based in Cibinong, Bogor, plans to stick to a previous decision to suspend 17 of its workers for participating in a strike. "We have submitted our decision to the Ministry of Manpower. Let the ministry decide on the matter," the human resources manager of PT Singamip Jaya Electronics Enterprise, Tumpal Butar Butar, said Monday in a meeting at the Jakarta Legal Aid Institute.
Wed, 15 Jul 1998, 00:00 WIB
Former general may be appointed as deputy state secretary
Former general may be appointed as deputy state secretary JAKARTA (JP): What does a cabinet minister do when he is overburdened after being elected to chair the country's biggest political organization? Appoint a new assistant to conduct his ministerial duties. Lt. Gen.
Wed, 15 Jul 1998, 00:00 WIB
Teachers defend high school admission fees
Teachers defend high school admission fees JAKARTA (JP): State school bosses argued yesterday that the high admission fees for new students this year were being set purely to enable the schools to cope with the prolonged economic turmoil. In interviews with The Jakarta Post yesterday, school principals and teachers urged the public, including parents and city officials, to appreciate that they were working with lilliputian levels of funding from the government.
Wed, 15 Jul 1998, 00:00 WIB
Asian heavy crude prices steady
Asian heavy crude prices steady SINGAPORE (Reuters): Asia's heavy crude prices were steady yesterday as pending Indonesian export allocations for August kept trading limited. Traders said that heavy Indonesian crudes such as Minas and Widuri were talked at firm premiums of 50/55 cents per barrel to ICP, in line with the last cargoes traded, but no new deals were reported done. Indonesian state oil company Pertamina is due to announce its August export allocations later this week.
Wed, 15 Jul 1998, 00:00 WIB
Pollution harms Bogor Botanical Gardens
Pollution harms Bogor Botanical Gardens By Yudha Kartohadiprodjo BOGOR (JP): As you arrive in Bogor from Jakarta via the Jagorawi highway, turn right on Jl. Pajajaran. Follow the road and bear to your right. Soon the green sprawl of the Bogor Botanical Gardens will emerge on your right -- that is, if the gaggle of angkot (public minibus) doesn't block your way or a traffic jam doesn't distract you.
Wed, 15 Jul 1998, 00:00 WIB
Tokyo's support for Jakarta to continue
Tokyo's support for Jakarta to continue TOKYO (Dow Jones): Japan and Indonesia discussed new financial aid from Tokyo to Jakarta in a meeting Tuesday but didn't talk in terms of concrete numbers, officials who attended the meeting said.
Wed, 15 Jul 1998, 00:00 WIB
Polysindo not to make interest payments on notes
Polysindo not to make interest payments on notes NEW YORK (Reuters): Polysindo Eka Perkasa will not make interest payments on over $600 million in outstanding Yankee debt issues, an official at the struggling Indonesian textile company told investors on Monday. The prices of the company's three Yankee issues fell eight to 10 points in reaction to the announcement, which was made in a conference call to investors, a trader said. The bonds fell to 24-28 from the mid to high 30s following the news.
Wed, 15 Jul 1998, 00:00 WIB
Retailers deny breakdown in distribution networks
Retailers deny breakdown in distribution networks JAKARTA (JP): The Indonesian Association of Retailers denied yesterday the government's recent claim that skyrocketing prices and shortages of basic commodities are being caused by a breakdown in distribution networks following the May riots. Association chairman Steve Sondakh told reporters after meeting President B.J. Habibie that the distribution system had been restored after a brief interruption caused by the widespread unrest.
Wed, 15 Jul 1998, 00:00 WIB
Bulog adopts competitive bidding system
Bulog adopts competitive bidding system JAKARTA (JP): The State Logistics Agency (Bulog) has adopted a competitive bidding system for the procurement of essential foodstuffs from international markets, the agency's chief, Beddu Amang, said here yesterday. The first competitive bidding for the import of wheat flour was opened yesterday, he said, adding that the agency would also invite international tenders for the future import of other commodities, including rice and soybeans.
Wed, 15 Jul 1998, 00:00 WIB
Dili calm as migrant exodus subsides
Dili calm as migrant exodus subsides JAKARTA (JP): A tense calm settled yesterday on Dili, East Timor, as the massive exodus of the past two weeks showed signs of subsiding. Resident Manuel V. Carrascalao told The Jakarta Post by telephone from the provincial capital that many shops were closed and some housing complexes were deserted. Even daily activities in the governor's office continued to be disrupted. "It's a sad fact that civil servants fled, too," the former legislator said.
Wed, 15 Jul 1998, 00:00 WIB
Law experts pessimistic about legal reforms
Law experts pessimistic about legal reforms JAKARTA (JP): Law experts and practitioners expressed pessimism yesterday that the current reform movement would bring any change in the legal system or strengthen the supremacy of law given the dominance of status quo forces. Munir, an executive of the Indonesian Legal Aid Foundation, said President B.J. Habibie's government had yet to show a real commitment to promoting the supremacy of law and to reform the corrupt culture within the bureaucracy.
Wed, 15 Jul 1998, 00:00 WIB
ASEAN TV gets go-ahead
ASEAN TV gets go-ahead BANGKOK (DPA): Southeast Asian nations, unhappy with what they consider overly negative and Western-dominated reporting on the region, agreed yesterday to set up a regional television channel. "When we want to find out something about Singapore, Thailand, Myanmar or Vietnam we don't have to hear only the loud voices from the big boys, but we also hear the softer, gentler voices from each country," said Singapore's Information Minister Brigadier General George Yeo.
Wed, 15 Jul 1998, 00:00 WIB
Golkar faces huge challenges
Golkar faces huge challenges State Minister/Secretary Akbar Tandjung emerged as the new leader of Golkar in its congress over the weekend. Analysts and congress participants agreed that the process of the election was democratic. We would like to underline this fact because in next year's general election, democratic values will be a prerequisite for any political party to win the people's votes.
Wed, 15 Jul 1998, 00:00 WIB
Soldiers held over abductions
Soldiers held over abductions JAKARTA (JP): The Military Police have detained five officers of the Army's special force (Kopassus) in connection with a series of abductions of political activists over the past year and are preparing dossiers for their courts-martial, Antara reported yesterday. Two further special forces members are "under intensive investigation", the news agency said. Military Police chief Maj. Gen.
Wed, 15 Jul 1998, 00:00 WIB
ADB vows not to let Indonesia 'fall'
ADB vows not to let Indonesia 'fall' JAKARTA (JP): The Asian Development Bank is ready to provide more loans to the country to prevent a further deterioration of the country's ravaged economy, its program director said here yesterday. Shoji Nishimoto acknowledged the bank was "prepared to expand" loans to Indonesia. "Indonesia has been the largest client and borrower of the ADB...
Wed, 15 Jul 1998, 00:00 WIB
Expatriates 'returning' to Indonesia
Expatriates 'returning' to Indonesia JAKARTA (JP): Many multinational companies which evacuated their expatriate employees and dependents during widespread unrest in May have now allowed them to return, a survey has found. The level of fear generated in the expatriate community by the May riots "has dramatically subsided", the Castle Group, which conducted the survey, said in a media release. The major consulting firm in Indonesia compiled the survey in the past seven days.
Wed, 15 Jul 1998, 00:00 WIB
Directors of city-owned firms called in for crisis meeting
Directors of city-owned firms called in for crisis meeting JAKARTA (JP): The city administration will summon executives of its seven wholly owned and 48 partly owned firms to disclose their companies' latest financial details this week, an official said yesterday. Deputy Governor for economic and financial affairs, Harun Al Rasyid, said the companies would be classified as either profitable, modest or unsatisfactory on the strength of their performance.
Wed, 15 Jul 1998, 00:00 WIB
Aurora expects more gold
Aurora expects more gold PERTH (Reuters): Aurora Gold Ltd said yesterday it expects this year's gold production from its Mt. Muro lode in Indonesia to show little change from last year's 250,000 ounces. "We're budgeting for a bit better than a quarter million equivalent ounces, which will be about 180,000 ounces of gold and four million ounces of silver," managing director Ian Burston told Reuters. "That about the same as last year and we're at that plateau now," Burston said. The Mt.
Wed, 15 Jul 1998, 00:00 WIB
Flaws of riot media coverage
Flaws of riot media coverage By Ariel Heryanto JAKARTA (JP): The mid-May violence in Jakarta and several other cities could best be described as racialized state- terrorism, rather than racially motivated mass riots. Failure to recognize the difference has been alarmingly endemic in media coverage. This is especially rampant in the foreign media, otherwise sympathetic toward the victims and the future of Indonesia.
Wed, 15 Jul 1998, 00:00 WIB
Shoe exports may drop 50% this year: Aprisindo
Shoe exports may drop 50% this year: Aprisindo JAKARTA (JP): A continuing decline in orders fueled by worries about the situation here may drive down the country's shoe exports by nearly 50 percent this year, an executive of the shoe industry has warned. The chairman of the Indonesian Footwear Association (Aprisindo), Anton J. Supit, said Monday the drop in shoe exports would cut the country's foreign exchange earnings from the industry to about US$1 billion this year from $1.9 billion in 1997.
Wed, 15 Jul 1998, 00:00 WIB
The World Cup: An irony
The World Cup: An irony From Republika To Indonesians, the 1998 World Cup soccer matches could at least comfort them as entertainment during the ongoing economic crisis. Soccer enthusiasts should thank all the country's television stations, private and state, for airing reports of the events live or otherwise. Even the print media seemed to be competing with one another to keep their readers abreast of what went on in the championship by devoting special World Cup space.
Wed, 15 Jul 1998, 00:00 WIB
KL firm defers RI plant
KL firm defers RI plant KUALA LUMPUR (AP): Malaysia's electric company has deferred a joint venture project to build a coal-fired power plant in Sumatra, Indonesia, because of the region's economic crisis, a news report said yesterday. "It is difficult to say when (the project can proceed), but we are looking at a period of between 10 and 15 years," the national news agency Bernama quoted Ahmad Tajuddin Ali, executive chairman of Tenaga Nasional Berhad, as saying.
Wed, 15 Jul 1998, 00:00 WIB
S. Korea set to agree to RI debt delay
S. Korea set to agree to RI debt delay SEOUL (Dow Jones): South Korean creditors are expected to extend maturities on their loans to Indonesian financial institutions and companies as part of the Southeast Asian nation's US$80 billion debt restructuring plan, local bank officials said yesterday. Attending a presentation by visiting Indonesian officials promoting the restructuring plan, South Korean bankers said they have no choice but to abide by the debt arrangement.
Wed, 15 Jul 1998, 00:00 WIB
Many retailers opt for closure as purchasing power plummets
Many retailers opt for closure as purchasing power plummets JAKARTA (JP): An increasing number of retailers affected by the recent riots are expected to close their outlets as people's buying power continues to weaken. Bayu Utomo, the head of research at property consultancy PT Procon Indah/Jones Lang Wootton, said that due to declining consumer spending, more and more retailers are preferring to close outlets while waiting for the economic situation to improve.
Wed, 15 Jul 1998, 00:00 WIB
Star Mild team hopes to win race
Star Mild team hopes to win race JAKARTA (JP): The Star Mild team is hoping to make it lucky number three in the third leg of the national drag race at Sentul circuit, near Bogor, on Sunday. The team -- Canadian Robert Paul and local drivers Ronny Hermawan and Donnie Pangemanan -- notched up wins in the first two races of the series. Team spokesman Tim McKinlay said yesterday that although there were tough teams competing, Star Mild expected it could overcome them to win.
Wed, 15 Jul 1998, 00:00 WIB
Reserve money up by Rp 354b: Bank Indonesia
Reserve money up by Rp 354b: Bank Indonesia JAKARTA (JP): Reserve money increased by Rp 354 billion (US$23.6 million) in the week to July 10, a smaller rise than in the previous week, Bank Indonesia said yesterday. The central bank said in a statement that the smaller rise was a result of its market operation which has absorbed Rp 2.67 trillion from the money in circulation. BI remains committed to tight monetary policy to stave off inflation and stabilize the rupiah, the statement added.
Wed, 15 Jul 1998, 00:00 WIB
Tourist industry gears up for 'Happy Day' freebie bonanza
Tourist industry gears up for 'Happy Day' freebie bonanza JAKARTA (JP): Indonesia's tourist industry is gearing up for a bold approach to bring in new business by offering one free day of services and accommodation for international tourists. "Each of us knows our task on the D-Day," the head of the Jakarta chapter of the Indonesian Tour and Travel Agencies (Asita), Meity Robot, told The Jakarta Post yesterday.
Wed, 15 Jul 1998, 00:00 WIB
Subic Bay issue thorn in Joseph Estrada's side
Subic Bay issue thorn in Joseph Estrada's side By Ruben Alabastro MANILA (Reuters): A bustling freeport touted as a symbol of the Philippines' economic promise has turned into a political battleground for new President Joseph Estrada, an ex-actor who, in his movies, always conquers in the end.
Wed, 15 Jul 1998, 00:00 WIB
Regular fashion shows help batik house to beat crisis
Regular fashion shows help batik house to beat crisis By Izabel Deuff JAKARTA (JP): Picture a backdrop of reddish wood, the top border of which is finely and intricately carved. A pink and grass-green batik divan stands in the central recess, above which hangs a short, red theater curtain. On each side of the stage, two golden-decorated doors wait for the last model to enter and exit the stage. Here she comes, waving an off-white organdy selendang scarf.
Wed, 15 Jul 1998, 00:00 WIB
Defendants in Trisakti case plead not guilty
Defendants in Trisakti case plead not guilty JAKARTA (JP): Defense lawyers in the Trisakti University shooting case insisted yesterday that prosecutors had failed to prove that an order to shoot into the crowd given by the defendants was an "indisciplinary act". They therefore demanded that the military tribunal drop the charges against Company Commander First Lt. Agus Tri Heryanto and Platoon Commander Second Lt. Pariyo, both from the Jakarta Police Mobile Brigade.
Wed, 15 Jul 1998, 00:00 WIB
Government sticks to its guns on licensing reporters
Government sticks to its guns on licensing reporters JAKARTA (JP): The government's offer to subsidize newsprint for cash-strapped newspapers and magazines apparently comes with a catch: the presence of a professional body which controls journalists by accreditation. While newspaper editors and publishers have hardly batted an eyelid, mass communications experts said yesterday that the move was an attempt by President B.J. Habibie to curb press freedom.
Wed, 15 Jul 1998, 00:00 WIB
Mt. Merapi still spewing dust
Mt. Merapi still spewing dust YOGYAKARTA: People in Yogyakarta and many other areas near Mt. Merapi continued to use makeshift masks yesterday as a thick blanket of dust flew about in the wake of the volcano's eruption Saturday. Although there was no new eruption yesterday, the millions of tons of volcanic ash spewed since the weekend have created havoc in the daily life of residents.