Indonesian Political, Business & Finance News

Archive: 18 July 1998

56 articles found

Badminton coach denies he quit over salary spat

Badminton coach denies he quit over salary spat JAKARTA (JP): National badminton men's singles coach Indra Gunawan said yesterday there was no truth to media speculation over the reason for his resignation. "I did not resign because my salary was less than physical trainer Paulus Passurney. The news is not true," Indra told reporters yesterday.

Japex will not buy stake in Timor Gap

Japex will not buy stake in Timor Gap JAKARTA (JP): Japanese oil company Japan Petroleum Exploration Co. (Japex) had no plans to invest in the development of a depot in Timor Gap in return for a stake in the project, a company official said yesterday. The official refuted a statement by PT El Nusa president Aswad Dipo claiming that Japex had showed an interest in injecting funds into the depot project located in Kupang, East Nusatenggara, in return for a 20 percent stake.

Wiranto warns against looting

Wiranto warns against looting JAKARTA (JP): The Armed Forces (ABRI) warned yesterday it will crack down hard against looters amid growing signs of a breakdown of law and order in some parts of the country. ABRI Commander Gen. Wiranto, who is also minister of defense and security, acknowledged that many people have been impoverished by the economic crisis, with some losing their jobs and others even driven to the verge of starvation.

Firm warned over foreign model

Firm warned over foreign model JAKARTA (JP): The Immigration Directorate General of the Ministry of Justice has sternly warned cosmetic firm PT Martina Berto for illegally employing a foreign model for a television advertisement, an official said. Immigration director for control and supervision Zaiman Nurmatias said on Thursday that employing German model Rischa Larasati Iris for a television advertisement violated immigration rules.

OPEC basket price $12.30

OPEC basket price $12.30 LONDON (Reuters): The price of OPEC's basket of seven crudes stood at $12.30 a barrel on Thursday, unchanged from Wednesday, the OPEC news agency said quoting the OPEC Secretariat. The basket comprises Algeria's Saharan Blend, Indonesia's Minas, Nigeria's Bonny Light, Saudi Arabia's Arabian Light, Dubai of the UAE, Venezuela's Tia Juana and Mexico's Isthmus.

On suing RI, BI and Exim Bank

On suing RI, BI and Exim Bank I am writing in response to The Jakarta Post June 25 report RI govt and central bank sued for $58.69 billion. I feel concerned about it and would like to make the following comments. New York City attorneys Burchetta Brofman & Hanley on behalf of the plaintiffs, Group of BA Ltd.

Firearms market thriving in scared Jakarta

Firearms market thriving in scared Jakarta JAKARTA (JP): Some victims of the mid-May riots probably wish they had kept tear gas or guns on hand to protect their family and property from the mob violence. But the rampant lawlessness and the sluggish response of security forces during the three days of mayhem has apparently given a good lesson for many wealthy families in the capital, particularly Chinese-Indonesians and expatriates.

Trisakti guns to undergo more tests

Trisakti guns to undergo more tests JAKARTA (JP): The National Police agreed yesterday to allow the National Police Forensic Laboratory (Puslabfor) to reexamine 21 guns used during the Trisakti University shooting incident, an officer said yesterday. The head of the Trisakti investigation team/Jakarta Military Police chief, Col. Hendardji, said after a meeting with National Police Chief Lt. Gen.

Stock Exchange

Stock Exchange Stock prices on the Jakarta Stock Exchange (in rupiah) on July 17, 1998: Shares Close Change Trading Volume -------------------------------------------------------- Ades Alfindo 325 0 10,000 AHAP Insurance 575 0 0 Alter Abadi 550 25 290,000 Alumindo Light Metal 375 25 52,000 Alumindo Perkasa 200 0 0 Aneka Kimia Raya 225 0 10,000 Aneka Tambang 2,475 75 17,440,500 Anwar Sierad 125 0 17,000 Apac Centertex Corp.

Vietnam to sell rice to RI

Vietnam to sell rice to RI HANOI (Reuters): Vietnam intends to sell 100,000 tons of rice to Indonesia on deferred payment in addition to providing a free shipment of 10,000 tonnes, an official from the Government Office said yesterday. The state-owned Southern Food Company would be authorized to complete the deal with the Indonesian government for shipment between August and October this year, the official told Reuters by telephone.

Rupiah's sharp fall may halt fertilizer production

Rupiah's sharp fall may halt fertilizer production JAKARTA (JP): The country's fertilizer producers might soon be forced to halt production because the sharp plunge in the rupiah against the U.S. dollar has made raw materials unaffordable, a fertilizer company executive has said. Suhadi, president of state-owned PT Pupuk Sriwijaya (Pusri), said that the price of natural gas, the main raw material in fertilizer production, had more than tripled in rupiah terms since July last year.

Jobless plunder bamboo fields

Jobless plunder bamboo fields BANDUNG: Hundreds of people, mostly those who lost their jobs after their companies went bankrupt, have plundered a bamboo plantation on Mt. Manglayang, Bandung regency, a report said yesterday. Plantation rangers said they could not do anything to stop the banditry because it involved great numbers of people from nearby villages who claimed they need the bamboo to sell so they could survive after being dismissed.

East Timor anniversary passes without incident

East Timor anniversary passes without incident JAKARTA (JP): After weeks of swirling rumors of impending clashes between demonstrators and security forces, quiet pervaded in Dili, East Timor, yesterday as residents chose to stay indoors on the province's 22nd anniversary of integration into Indonesia. The only formal ceremony marking the former Portuguese colony's integration was held on the grounds of the governor's office.

Price of Minas crude down on high RI export allocations

Price of Minas crude down on high RI export allocations SINGAPORE (Reuters): The price of Asia's heavy sweet Minas crude weakened yesterday, on slightly larger than expected August export allocations from Indonesia, traders said. "The market was not expecting Minas to be so much, it's going to pull prices down," said one trader. Traders said that offers for August Minas were currently around 45 to 50 cents per barrel over the ICP, compared to the last August trades done at ICP +60 cents.

Indonesian fishing boat defies Australian navy

Indonesian fishing boat defies Australian navy SYDNEY, Australia (Agencies): The Australian navy admitted yesterday that an Indonesian fishing boat caught poaching had evaded capture earlier this month by ramming the patrol boat that had given chase and fired shots over its bows. "I don't think it's worth risking lives over a few fish," the captain of the HMAS Cessnock told reporters when explaining why the Indonesians had not been captured. Lt.

Two more refuse to join new Golkar executive board

Two more refuse to join new Golkar executive board JAKARTA (JP): Two more politicians, Sudarko Prawiroyudho and Thomas Suyatno, refused yesterday to join the new Golkar executive board, bringing the number of people who have declined to 11. The number is expected to increase further. People whose names were on the list were given until 6 p.m. yesterday to confirm their acceptance.

It's about 'quick fixes'

It's about 'quick fixes' I find Carl Chairul's By The Way piece last Sunday (July 12) not only amusing but right on the nose. It's truly a pity that some readers are unable to see that he does not intend to ridicule the idea of making sacrifices in the form of fasting to help less-fortunate fellow countrymen.

Death sentence awaits illegal gun owners, smugglers

Death sentence awaits illegal gun owners, smugglers JAKARTA (JP): Possessing a gun in this country without the proper documents could leave you facing a possible death sentence. Article 1 of the 47-year-old Emergency Law number 12 makes owning or carrying firearms illegal. Those caught in possession of guns, ammunition or explosive weapons are liable to the death penalty or 20 years imprisonment.

Palm oil prices increase in nervous trading

Palm oil prices increase in nervous trading LONDON (Reuters): Palm oil opened with gains of about $5 to $7.50 a ton in an edgy European market yesterday, traders said. Most sellers were unwilling to show their hands and traders were only able to give quoted prices. "The market is very nervous this morning owing to the meetings going on in Indonesia," said one trader.

Overcoming evil

Overcoming evil About a year ago, and even before that, Indonesian was becoming the envy of many poor and developing nations due to its seemingly prosperous economy. Back then, many of its poor people were gradually passing above the poverty line, with millions of tourists visiting the country and a lot of investors pouring in.

Improving RI's race relations

Improving RI's race relations By S. Belen JAKARTA (JP): For three decades the New Order government insisted on retaining policies aimed at forcing Chinese- Indonesians to become assimilated into mainstream society. Essentially the policies were designed to make Chinese- Indonesians abandon their original customs and practices and adapt their behavior to suit the prevalent values and norms in Indonesia.

Megawati dismisses suggestion to split PDI

Megawati dismisses suggestion to split PDI JAKARTA (JP): The ousted leader of the Indonesian Democratic Party (PDI), Megawati Soekarnoputri, yesterday rejected Minister of Home Affairs Syarwan Hamid's proposal to split the party into two new separate parties if its two warring factions failed to settle their differences.

Aurora develops RI project

Aurora develops RI project PERTH (Dow Jones): Australian gold mining concern Aurora Gold Ltd. is closer to developing its Toka Tindung project in north Sulawesi, Indonesia, after studies showed that 150,000 ounces of gold can be produced annually at a cash cost of less than US$200 an ounce. A final go ahead for the project is conditional upon receipt of Indonesian government approvals, confirmation of debt funding on suitable terms and the delineation of a 750,000 ounce gold reserve.

RI market steady on positive sentiment

RI market steady on positive sentiment JAKARTA (JP): The Indonesian financial market closed the week higher yesterday on positive sentiment over the economic outlook with international donors pledging more aid for the country. The rupiah maintained its strength, closing at 13,350 against the U.S. dollar on the Jakarta spot market, while share prices on the Jakarta Stock Exchange (JSX) gained 2.6 percent, dealers and stockbrokers said.

Violence against women

Violence against women Demands that the government thoroughly investigate the acts of violence recently committed against women are increasing in strength. Two days ago, or more than a month after the shocking cases were reported in the media, 25 women representatives met with President B.J. Habibie.

Police arrest three drug dealers

Police arrest three drug dealers JAKARTA (JP): Police have arrested three alleged drug dealers from Aceh province in two separate raids here. The deputy chief of city police detective unit, Lt. Col. Bakat Purwanto, said the first two suspects, identified as M. Nasir, 27 and Zainuddin, 28, were picked up at Kalibata Mall, South Jakarta, on Wednesday. "The two were caught red-handed when doing a marijuana transaction with a plainclothes officer at about 3 p.m.," Bakat said.

World Bank urges Indonesia to stick to reform program

World Bank urges Indonesia to stick to reform program WASHINGTON (Reuters): The World Bank urged Indonesia on Thursday to stick to its tough program of reforms, and predicted growth could return in the medium-term. The lending agency also said the government must move quickly to resuscitate the country's banking sector and restructure debts. It called on international donors to increase their commitments to support Indonesia's budget.

Prosecutors set to unravel corruption in airport project

Prosecutors set to unravel corruption in airport project TANGERANG (JP): The prosecutors office here appears to be on the verge of uncovering alleged corruption in the 1981 acquisition of 115 hectares of land for the development of Soekarno-Hatta International Airport. State prosecutors have arrested a land broker, Surya Miharja, on charges of collaborating with allegedly corrupt officials and embezzling Rp 44 billion (US$2.8 million) in state money.

TV today

TV today TVRI 2:00 p.m. News: Berita 14 2:30 Music 2:35 TV Series: Silverhawks 3:05 Children's Program: Tamasya 3:30 Science Film: Invention 4:00 Regional News 4:30 Sports 5:30 TV Series 6:00 News: Lintasan Berita 6:05 My Country: Rona Nusantara 6:15 Sports News 6:30 TVRI News (in English) 7:00 Evening News 7:35 Saturday Night Music 8:00 News: Lintasan Berita 8:05 Saturday Night Music (contd.) 8:30 Entertainment News: Majalah Udara 9:00 World News 9:30 Quiz: Siapa Dia 10:30 Late News 10:40...

Pertamina to lose downstream monopoly

Pertamina to lose downstream monopoly JAKARTA (JP): Minister of Mines and Energy Kuntoro Mangkusubroto said yesterday the government is preparing a bill to end the monopoly of the state oil and gas company Pertamina in domestic oil and gas refining, fuel distribution, and marketing. Kuntoro said the draft law on oil and gas, which is to be submitted to the House of Representatives next month, would open the oil and gas downstream sector to private companies.

Govt will resort to 'force' in collecting taxes

Govt will resort to 'force' in collecting taxes JAKARTA (JP): Minister of Finance Bambang Subianto said yesterday the government would use "force" to ensure that tax revenue met the target in the current 1998/99 fiscal year. Speaking during deliberation of the newly revised state budget with Commission VIII of the House of Representatives (DPR), the minister said the action might include issuing distress warrants.

'Ojek' driver found dead

'Ojek' driver found dead JAKARTA (JP): An ojek (motorcycle taxi) driver was found dead early yesterday at a flyover on Jl. Raya Narogong in Bekasi. Daryo, 32, was believed to have died of stab wounds to his face and stomach. It was not known who found his body. The victim's Grand Astrea motorcycle was reported missing. One of the victim's friends, who refused to be named, said that he saw Daryo for the last time at about 1 a.m. when he was carrying a passenger.

Police officer neglects summons

Police officer neglects summons YOGYAKARTA (JP): Lawyers of murdered journalist Fuad Muhammad Syafrudin are irate at the failure of police Sergeant Major Edy Wuryanto to appear at the Military Police Headquarters on July 15 for questioning over his alleged role in the killing. Lawyer Budi Hartono from the Yogyakarta Legal Aid Institute demanded yesterday that the local police chief turn Edy over the military police.

House gets support on UN convention

House gets support on UN convention JAKARTA (JP): The government has given its support to the House of Representatives' initiative to ratify the draft law on the UN Convention Against Torture as part of its action plan to improve the observance of human rights in the country. Minister of Foreign Affairs Ali Alatas said the government's decision to ratify the UN convention had been taken out of respect for the right of all people to be free from the threat of torture.

Up in arms?

Up in arms? Should Indonesians be allowed to carry guns? Or should the current tight restrictions on gun ownership at least be loosened? For most of us the answer to these questions is simple enough. No. While many Indonesians of all ages are addicted to action movies in which not a minute goes by without a bomb exploding or a gun blazing, they shake their heads in shock and disbelief at reports of school children in the United States shooting dead their friends, parents or teachers.

Landslide kills two in Philippines

Landslide kills two in Philippines ZAMBOANGA, Philippines (AP): Searchers dug up two bodies yesterday and were searching for at least five other victims of a landslide in the southern Philippines, police said. Three people rescued hours after the landslide Thursday said at least seven of their neighbors had been buried under the mud and debris, provincial police chief Ronaldo Roderos said.

Conversion Rates

Conversion Rates JAKARTA (JP): Bank Ekspor Impor Indonesia's (Bank Exim) indicative conversion rates on July 17, 1998: Buying Selling Rp Rp U.S.

SE Asian currencies up amid cautious optimism

SE Asian currencies up amid cautious optimism SINGAPORE (Dow Jones): For the first time in months, some market players were daring to take a bullish view on Southeast Asian currencies, as late yesterday regional foreign exchange markets ended a week of choppy trading significantly higher against the U.S. dollar.

Dress for state occasions

Dress for state occasions From Media Indonesia On state TV, we often see high-ranking government officials and their spouses attending official occasions. The officials' dress (reflecting national culture) is often of high quality. Usually the officials wear uniformed batik. The most surprising aspect is that the clothes are worn only once. On the next occasion they wear different clothes.

Free political prisoners: Dita

Free political prisoners: Dita TANGERANG, West Java: Jailed labor activist Dita Indahsari urged the Habibie administration yesterday to free all political prisoners without exception. She claimed to have heard that more political detainees would be released but said the government had yet to demonstrate its commitment to doing so. Dita is currently serving a five year sentence in Tangerang prison for women. She was jailed by Surabaya district court in 1996 after being found guilty of subversion.

National coalition called for to end crisis

National coalition called for to end crisis JAKARTA (JP): Abdurrahman Wahid, Megawati Soekarnoputri and Bishop Carlos Felipe Ximenes Belo, in a unique gathering, yesterday called on the government to form a coalition with reform leaders to lead the nation out of the economic crisis. A joint statement issued at the end of the meeting stressed the need to quickly resolve the crisis and said that the government could not do this alone.

New organization set up to help poor people

New organization set up to help poor people JAKARTA (JP): Student activists and representatives of several non-governmental organizations established yesterday an organization aimed at helping poor people suffering from food shortages. Param, the acronym of Pangan untuk Orang Miskin (Food for the Poor), was launched under a flyover at the Jl. Gatot Subroto - Jl. Rasuna Said junction in South Jakarta.

Moslem scholars want Puncak entertainment center shut

Moslem scholars want Puncak entertainment center shut BOGOR (JP): Local Moslem scholars appealed for a second time yesterday to local authorities to shut dozens of entertainment establishments in the popular Puncak resort area which they charged front for the sex business and the drug transactions. Spokesman for the 140-strong-group, Muhammad Zein, said the discotheques, nightclubs and brothels along the mountainous Puncak pass road degraded the morals of local youngsters.

KL building to star in new film

KL building to star in new film KUALA LUMPUR (AP): A new film starring Sean Connery will be shot atop a building in Malaysia that is being billed as the world's tallest. The filming of Entrapment, a thriller directed by Jon Amiel will start in the capital of Kuala Lumpur in September, Twentieth Century Fox, the film's producers, said yesterday. The final 30 minutes of the action takes place in Kuala Lumpur, including atop the 452-meter Petronas Twin Towers, an outstanding landmark of Malaysia.

FEW, an organization that binds active, busy women

FEW, an organization that binds active, busy women By Izabel Deuff JAKARTA (JP): A few smartly dressed white women laughed and chatted in English in the Batur Room in the Mercantile Club on the 18th floor of the World Trade Center in Central Jakarta. Their classic cut suits were fitting attire for the suite, which has a strict dress code, and the crisp white shirts of the waiters who stood at intervals around the carpeted room only served to emphasize the exclusive nature of this meeting.

Bylaw on land clearance licenses 'badly needed'

Bylaw on land clearance licenses 'badly needed' JAKARTA (JP): The city administration was urged yesterday to prepare a bylaw to specify the rights and responsibilities of every developer applying for a license to clear land for development purposes. City councilor Ali Wongso Sinaga of the Golkar faction said yesterday that the bylaw was badly needed to regulate and control the performances of licensed developers.

Sundanese food promotion

Sundanese food promotion JAKARTA (JP): If you love traditional food, then Hotel Santika's food and culture promotion may be to your taste.

Lehman Brothers and JP Morgan named IBRA's financial advisors

Lehman Brothers and JP Morgan named IBRA's financial advisors JAKARTA (JP): The Indonesian Bank Restructuring Agency (IBRA) has named Lehman Brothers and JP Morgan as its international financial advisors to help rehabilitate the country's beleaguered banking sector. IBRA has also selected Deutsche Bank AG as financial adviser for six unlisted state banks -- Bank Rakyat Indonesia, Bank Dagang Negara, Bank Tabungan Negara, Bank Bumi Daya, Bank Ekspor Impor Indonesia and Bank Pembangunan Indonesia.

Where to go in Jakarta:

Where to go in Jakarta: Exhibitions * Painting Exhibition: Kriyono's Cynorure by Kriyono, at Galeri Linggar, Jl. Kemang Timur No. 36, South Jakarta (Phone: 7990008), 10 a.m. to 10 p.m., until Aug. 9. * Embroideries Exhibition in the lobby of Sari Pan Pacific Hotel, Jl. M.H. Thamrin, Central Jakarta (Phone: 323707), 9 a.m. to 9 p.m., until July 31. * Painting Exhibition Hello, how's it going, by Evie Westmore, at the Main Lobby of the Regent Jakarta, Jl. H.R.

AFP to redeem Amcol bonds

AFP to redeem Amcol bonds SINGAPORE (Reuters): Asia Food & Properties Ltd (AFP) will redeem all outstanding bonds in now-defunct Amcol Holdings Ltd amounting to S$285 million by Monday, its deputy chief financial officer said yesterday. In a telephone interview with Reuters, Suwandy Chen said AFP will pay off a total of S$365 million worth of bank borrowings, including the bonds, due from Amcol to its creditors. A debt moratorium agreed with the creditors ends on July 18.

Women seek action on rapes

Women seek action on rapes JAKARTA (JP): About 80 women grouped in the Coalition of Indonesian Women for Justice and Democracy (KPIKD) demonstrated at the defense ministry yesterday, urging the Armed Forces to account for the rape of at least 168 Chinese-Indonesian women during the May riots. "We demand ABRI's leadership give an accountability statement for the May 13-15 riots, particularly regarding the rapes," the group's spokeswoman, Julia I.

Bulog to distribute cooking oil again after mayhem

Bulog to distribute cooking oil again after mayhem JAKARTA (JP): The government reappointed the State Logistics Agency (Bulog) yesterday to distribute cooking oil on the domestic market, the State Minister of Food and Horticulture A.M Saefuddin said. Saefuddin said that effective today, state plantation companies would sell their crude palm oil (CPO) to private refineries and Bulog would buy it at Rp 3,400 per kilogram, and then sell it to retailers at Rp 3,900 per kilogram.

Regional crisis worse than thought: PM Goh

Regional crisis worse than thought: PM Goh SINGAPORE (Dow Jones): Singapore Prime Minister Goh Chok Tong yesterday warned that the region's economic crisis is worse than initially believed and called on Japan to do more to stimulate its sputtering economy. "The region is in deeper recession than earlier thought," Goh told a dinner audience from the Development Bank of Singapore Ltd., one of the city-state's big four banks.

I'm ready to take the blame: Prabowo

I'm ready to take the blame: Prabowo JAKARTA (JP): Lt. Gen. Prabowo Subianto said yesterday he is ready to take responsibility for the kidnappings of political activists allegedly perpetrated by the Army's special force (Kopassus) early this year. Prabowo, who was the commandant-general of the Army's crack force when the abductions occurred, broke his silence on the issue three days after the Armed Forces (ABRI) disclosed that Kopassus members were involved in the abductions.

RP trade deficit narrows

RP trade deficit narrows MANILA (Reuters): The Philippines merchandise trade deficit narrowed in the first five months of the year as the current economic slowdown reduced imports and economists yesterday said the trend will likely hold. The National Statistics Office reported that the merchandise trade deficit from January to May fell 66.1 percent to $1.603 billion from the year-earlier $4.725 billion.

Political activist Pius to return home tomorrow

Political activist Pius to return home tomorrow JAKARTA (JP): Political activist Pius Lustrilanang, the first to go public with an account of the abductions of activists, is to return to Indonesia tomorrow, his lawyer said yesterday. Pius will arrive at Soekarno-Hatta International Airport on a Garuda flight from Amsterdam at 1:55 p.m., Johnson Panjaitan of the Indonesian Legal Aid and Human Rights Association (PBHI) said.