Indonesian Political, Business & Finance News

Archive: 22 July 1998

53 articles found

Minister in hot water for condoning looting

Minister in hot water for condoning looting JAKARTA (JP): State Minister of Food and Agriculture A.M. Saefuddin was roundly panned yesterday over his reported remarks that looting could be tolerated in particular circumstances. Though avoiding direct comment on Saefuddin, Minister/State Secretary Akbar Tandjung reiterated the government's stance that it would not tolerate looters for any reason and under any condition.

RI making sporadic use of USDA credits

RI making sporadic use of USDA credits SINGAPORE (Reuters): Indonesia is making only sporadic use of U.S. Department of Agriculture farm export credit guarantees and opening letters of credit is still very tough, USDA General Sales Manager Chris Goldthwait told Reuters yesterday. "It comes in fits and starts," he said in a telephone interview, referring to the country's use of the U.S. export credit guarantee program.

Rupiah remain weak, stocks edge downward

Rupiah remain weak, stocks edge downward JAKARTA (JP): The rupiah stayed weak at 14,000 against the U.S. dollar yesterday, while stock prices inched down on widespread security concerns, dealers and stockbrokers said. Currency dealers said the rupiah fell to an intraday low of 14,200 against the dollar in early trade before ending at 14,000. It had closed Monday at 14,175, compared to 13,350 on Friday.

New outlet for office needs opens

New outlet for office needs opens JAKARTA (JP): While many businesses are struggling to stay alive during the current economic hardship, PT Global Lintas Media, a subsidiary of giant publishing company Grup Gramedia, opened its first U.S.-franchising outlet for office needs here Monday. Located at Mall Ambasador on Jl.

On skipping meal

On skipping meal I would like to hail the letters of Ritu Sud (July 16), Zatni Arbi (July 18), and Dorhailay in relation to my article about fasting to save rice (July 19). All letters show concern about the food crisis we are experiencing. I absolutely agree that skipping one meal a day is no joke. But what Ritu Sud has in mind is totally different from fasting on Mondays and Thursdays (I am doing that, too, thank-you-very much) as appealed by the president.

Malaysian oil palm firms may pull out of Indonesia: Report

Malaysian oil palm firms may pull out of Indonesia: Report KUALA LUMPUR (DPA): Malaysian oil palm plantation firms in Indonesia have slowed down operations and may pull out their investments, a report said yesterday. The Star daily said Malaysian companies are having second thoughts about their investments, which amount to two million hectares or 36 percent of Indonesia's total oil palm plantations.

ABRI, police set up teams to trace victims of May riots

ABRI, police set up teams to trace victims of May riots JAKARTA (JP): The Armed Forces (ABRI) and National Police will conduct separate investigations into the massive rioting that rocked Jakarta and other major cities in May, causing the death of 1,200 people and abuse of hundreds of women.

Golkar's future

Golkar's future Golkar's recent special convention elected Akbar Tandjung chief of the party's executive board. His victory embarrassed a number of senior military officers, who are still reluctant to let control of Golkar slip from their hands. However, their chances are not entirely exhausted, as they are now planning to join Megawati Soekarnoputri (ousted chairperson of the Indonesian Democratic Party) -- who has already forged an affiliation with (Nahdlatul Ulama chairman) Abdurrahman Wahid.

Lippo Life gets award

Lippo Life gets award JAKARTA (JP): Lippo Life, an insurance arm of the Lippo Group, has won an award for its outstanding life insurance product Arisan Lippo from Markplus Indonesia, a local marketing consultant. The insurance company said yesterday that the appreciation was based on a marketing study jointly carried out by Markplus and SWA monthly magazine. Markplus service officer Hermawan Kertajaya said the award was given for the product's innovative and creative marketing strategy.

Megawati camp refused July 27 meeting permit

Megawati camp refused July 27 meeting permit JAKARTA (JP): National Police chief Lt. Gen. Roesmanhadi said yesterday he would not allow the Indonesian Democratic Party affiliated to Megawati Soekarnoputri to hold a meeting to commemorate the bloody incident of July 27 because the group are not officially recognized by the government. He said a permit could not be given to a group which was not officially recognized by the government.

Govt to give Soeharto Rp 26.5b for house

Govt to give Soeharto Rp 26.5b for house JAKARTA (JP): The government was steadfastly standing by its decision to give former president Soeharto an Rp 26.5 billion housing allowance yesterday, arguing that it was standard practice and in accordance with the law. The decision is based on law No.

Badminton legend Rudy plans to train street children

Badminton legend Rudy plans to train street children JAKARTA (JP): For decades, Indonesia has been hailed as fertile ground for budding badminton talent. Many of the country's stars over the past four decades first learned their skills on the streets. This may be the reason why the sport's living legend, Rudy Hartono, plans to share some of his brilliance with street walkers this weekend at the Kelapa Gading Youth Center in North Jakarta.

Three military forces involved in abductions: Andi

Three military forces involved in abductions: Andi JAKARTA (JP): Political activist Andi Arief alleged yesterday that at least two other military institutions besides the Army's special force (Kopassus) were involved in the abductions of activists earlier this year. He, however, refused to name the two bodies until after the 14 other activists still missing return. Andi himself was released by the city police last week.

Timor sea oil fields start production

Timor sea oil fields start production MELBOURNE (Reuters): The Broken Hill Pty Co Ltd said yesterday its joint venture Elang, Kakatua and Kakatua North oil fields in the Timor Sea between Australia and Indonesia had started production. The combined reserves in the fields were 29 million barrels of light, low sulphur crude oil and the reserves would be extracted over four years at a peak flow rate of 32,500 barrels per day, BHP said.

Boeing to face negligence suit

Boeing to face negligence suit SINGAPORE (AP): The family of an American who died when a Singapore plane crashed last year in Indonesia has filed a US$25 million negligence suit against the aircraft manufacturer Boeing, a newspaper reported yesterday. The suit was filed in New York federal court by law firm Kreindler and Kreindler on behalf of the family of Suzan Picariello, one of 104 people who died when a Silk Air Boeing 737-300 plane crashed last Dec. 19, according to The Business Times.

Councilors question Sutiyoso's overseas trip

Councilors question Sutiyoso's overseas trip JAKARTA (JP): Governor Sutiyoso left the capital for the Philippines yesterday afternoon without giving an explanation for his visit. His trip was strongly opposed by city councilors, who asked the governor to return to Jakarta soon, as the capital is still facing serious food shortages and fears of escalating crime. According to the head of the city's administrative affairs, Ndang Suriatna, the governor departed at 12:30 p.m. yesterday.

Migrants return to East Timor

Migrants return to East Timor ATAMBUA, East Nusa Tenggara: After the mass exodus of migrants from East Timor, many of those who fled to neighboring East Nusa Tenggara were seen returning to Dili by bus over the weekend. The border checkpoint between the two provinces was crowded as many of them boarded buses heading back to Dili. East Nusa Tenggara Police chief Col. Engkesman visited here Sunday to check on the state of those returning and the security officers on duty.

Police arrest kidnap suspects

Police arrest kidnap suspects JAKARTA (JP): City police detectives have arrested two men for allegedly kidnapping a female employee of a private company and keeping her for four days at a house in Kampung Condong, Tangerang, an official said yesterday. Deputy Chief of city police detectives Lt. Col. Bakat Purwanto said the 32-year-old woman, identified only as FSR, alias Susy, was fine and was not harmed by her kidnappers. "Physically she is OK, but she is in shock," Bakat told the media.

Pedicab drivers could sue city govt: Lawyer

Pedicab drivers could sue city govt: Lawyer JAKARTA (JP): Pedicab drivers have sufficient legal grounds to take the Jakarta administration to court over the latter's about- face on permitting their vehicles to operate in the capital, a lawyer from the Jakarta Legal Aid Institute has said. They could sue Governor Sutiyoso for causing them financial losses through his on-again, off-again decision, Dewi Novirianti said Monday.

Activists spread word about AIDS in street cafes

Activists spread word about AIDS in street cafes By Stevie Emilia JAKARTA (JP): Teenagers are always eager to learn new things, which is vital for their personal and intellectual development. But without proper information, they could become a victim of their own curiosity. That's why teenagers, and adults under 30 years of age were the main target of Yayasan Pelita Ilmu (Pelita Ilmu Foundation), which works on AIDS, in its latest campaign held at street cafes along Jl.

Diamond deals in hotels

Diamond deals in hotels From Bisnis Indonesia Lured by a newspaper ad on diamonds, with offers of cash payment and high-value assessment, I contacted the advertisers on their cellular phone on July 7. They made an appointment for the next day in a luxurious hotel in Jakarta. One of the their employees welcomed me and invited me into a room for the transaction. After one-and-a-half hours they had yet to make a decision.

Lifter Sriyani dropped from Asian Games squad

Lifter Sriyani dropped from Asian Games squad JAKARTA (JP): The Indonesian Weightlifting, Powerlifting and Bodybuilding Association has expelled Sriyani from the training center for the upcoming 13th Asian Games due to her indisciplined conduct.

Aneka Tambang's profit jumps 950% on rupiah's sharp fall

Aneka Tambang's profit jumps 950% on rupiah's sharp fall JAKARTA (JP): Publicly listed state mining company PT Aneka Tambang saw its net profit jump 950 percent to Rp 251.81 billion (US$18 million) in the first half of this year due to the rupiah's collapse against the U.S. dollar, the company announced yesterday. "The windfall profit was mostly caused by the fall in the rupiah's value against the dollar," company operations director Harsojo Dihardjo told a news conference.

Decision to let NGOs monitor general election welcomed

Decision to let NGOs monitor general election welcomed JAKARTA (JP): The government's promise to allow the Supreme Court and non-governmental organizations (NGOs) to oversee the coming general election was greeted positively yesterday, with some suggesting that foreign institutions should also be allowed to participate in the election watch. Golkar legislator A.

TV today

TV today TVRI 2:00 p.m. News: Berita 14 2:30 Music 2:35 Children's Film: Silverhawks 3:05 Family's Film: Road to Avonlea 4:00 Regional News 4:30 Teen Program: Remaja Indonesia 5:00 Science and Technology: Alat Pacu Jantung 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: Menantuku Mertuaku 8:00 News: Lintasan Berita 8:05 Health Program: Lintas Kesehatan 8:30 News: Laporan Peristiwa 9:00 World News 9:35...

Hanoi approves rice deal for Indonesia

Hanoi approves rice deal for Indonesia HANOI (Reuters): Prime Minister Phan Van Khai has approved the sale by Vietnam of 100,000 metric tons of rice to Indonesia on deferred payment in addition to providing a free shipment of 10,000 tonnes, an official said yesterday. The official from the Government Office said Khai had signed an instruction authorizing the state-owned Southern Food Company to make the 100,000 ton deal with Jakarta.

Death sentence on shaman upheld

Death sentence on shaman upheld MEDAN, North Sumatra: A high court here upheld the death sentence given out by a lower court against 45-year-old shaman Ahmad Suradji, alias Datuk, for the premeditated murder of 42 women between 1987 and 1997, Antara reported yesterday. The death sentence against his 40-year-old wife, Tumini -- his accomplice in the crimes committed in Deli Serdang 25 kilometers east of here -- was reduced to life imprisonment.

86 piracy attacks reported

86 piracy attacks reported KUALA LUMPUR (DPA): The International Maritime Bureau said yesterday there had been 86 piracy attacks on vessels worldwide in the first half of this year, with most attacks reported in Indonesia, the Philippines, India and Ecuador. Although the figure was lower than the 117 reported in the same period last year, the bureau cautioned that because of late reporting by shippers it was still too early to conclude that piracy attacks have dropped.

Former E. Timor officers given top posts in Jakarta

Former E. Timor officers given top posts in Jakarta JAKARTA (JP): City police chief Maj. Gen. Noegroho Djajoesman installed yesterday Lt. Col. Pudji Hartanto Iskandar, formerly the chief of East Timor's Bobonaro Police, as the Tangerang Police chief, replacing Lt. Col. Aryanto Budihardjo. Aryanto has been promoted to deputy chief of the Jakarta On- the-Alert Police Unit. Yesterday's ceremony was part of a series of replacements among the city's top brass scheduled this week.

Armed robbery in East Jakarta

Armed robbery in East Jakarta JAKARTA (JP): A group of eight men armed with guns and machetes broke into a residential house in Kampung Tengah subdistrict in East Jakarta early yesterday and stole hundreds of grams of gold jewelry and Rp 1.7 million in cash. No fatalities were reported, but one person received a facial injury. An officer from Makassar police subprecinct said the robbers, who arrived in two large Suzuki cars, broke into Hartono's house on Jl.

Conversion Rates

Conversion Rates JAKARTA (JP): Bank Ekspor Impor Indonesia's (Bank Exim) indicative conversion rates on July 21, 1998: Buying Selling Rp Rp U.S.

RI gets $500m aid from IDB

RI gets $500m aid from IDB DUBAI (Dow Jones): The Jiddah, Saudi Arabia-based Islamic Development Bank (IDB) said late Monday it has awarded US$380 million in aid to Indonesia to help alleviate the country's financial crisis. The bank said the money is the first installment of a total of $500 million it plans to send Indonesia this fiscal year.

Net int'l reserves up slightly

Net int'l reserves up slightly JAKARTA (JP): Bank Indonesia's net international reserves increased slightly by US$34.9 million to $14.44 billion as of July 17 compared to $14.40 billion the previous week, the central bank said yesterday. It said in a statement that the increase resulted from a loan disbursement by the Asian Development Bank and foreign exchange revenue from the export of oil and natural gas.

Govt slashes State Budget to Rp 263.88 trillion

Govt slashes State Budget to Rp 263.88 trillion JAKARTA (JP): The government pared down yesterday its 1998/99 State Budget to Rp 263.88 trillion (US$18.8 billion) from Rp 277.14 trillion announced last week by reducing appropriations for debt repayments.

NU sets up new political party

NU sets up new political party JAKARTA (JP): Indonesia's largest Islamic organization, Nahdlatul Ulama (NU), has announced the establishment of the Partai Kebangkitan Bangsa (National Awakening Party) to give voice to the political aspirations of its members. The party will welcome people from any religion. Deputy chairman of the Syuriyah (law-making body), K.H.

Spotlight

Spotlight Photo A: Graduate JP/afs THE GRADUATE: Rector of Open University, Pondok Cabe, South Jakarta, Bambang Sutjiatmo (center) officiates at the students' graduation day. The ceremony took place yesterday. Students of the university come from the country's 27 provinces.

Indovision and customer service

Indovision and customer service Keith Loveard's explanation in his letter Indovision responds (July 14) failed to impress me. I am a subscriber to Indovision TV-Kabel. I am not sure whether they are the same company. I rang Indovision in early May requesting a connection. After numerous attempts a technician came on line and said if we could take two connections it could be done in three days but for one connection I had to wait a month.

Govt ends monopoly of workers' insurance firms

Govt ends monopoly of workers' insurance firms JAKARTA (JP): The government has lifted monopoly privileges granting state-owned PT Jamsostek and a consortium of insurance companies under the Indonesian Human Resources Foundation (YPSDMI) the sole right to insure workers sent overseas, opening the way for commercial firms to enter the fray. Director general for labor placement Din Syamsuddin said the Minister of Manpower had revoked the old regulations with the issuance of Ministerial Decree No.

Pertamina completes crude oil purchases

Pertamina completes crude oil purchases SINGAPORE (Reuters): Indonesian state oil company Pertamina has bought around 100,000 barrels-per-day (bpd) of Asian crude oil in the spot market to cover all of its August requirement, traders said yesterday. Traders said exact details of the trades were uncertain, but that they include purchases of one August lifting cargo each of Tapis, Miri and Bintulu crudes from Malaysian state-owned Petronas.

Stock Exchange

Stock Exchange Stock prices on the Jakarta Stock Exchange (in rupiah) on July 21, 1998: Shares Close Change Trading Volume ------------------------------------------------------- Ades Alfindo 350 0 2,500 AHAP Insurance 575 0 0 Alter Abadi 525 0 429,500 Alumindo Light Metal 325 -25 29,000 Alumindo Perkasa 200 0 0 Aneka Kimia Raya 225 25 500 Aneka Tambang 2,750 25 38,069,500 Anwar Sierad 125 0 88,500 Apac Centertex Corp.

Agung thinks again on idea

Agung thinks again on idea JAKARTA (JP): State Minister of Youth Affairs and Sports, Agung Laksono, said yesterday he would reconsider his idea to raise fund for the 13th Asian Games from the public. Agung said during a visit to sports equipment factory Nassau in Citeureup, West Java, that the program was to serve as the last resort whenever the National Sports Council fails to cover a Rp 2 billion deficit in its budget set for Indonesia's participation in the games in December.

Bulog to buy 29,000 tons of palm olein

Bulog to buy 29,000 tons of palm olein JAKARTA (JP): The State Logistics Agency (Bulog) has opened a tender to buy 29,000 metric tons of palm olein from private domestic producers at international market prices, the agency's chairman Beddu Amang said yesterday. Beddu said the agency would also buy another 60,000 tons of palm olein from state plantation companies this month in a bid stabilize prices of the cooking oil on the domestic market.

Neiss back in town to discuss new aid

Neiss back in town to discuss new aid JAKARTA (JP): The International Monetary Fund's director for the Asia Pacific, Hubert Neiss, is due to arrive here today for a two-week visit. IMF advisor to Indonesia Prabhan R. Narvekar said here Monday Neiss would discuss the US$6 billion in loans approved last week, which is in addition to the $41.2 billion international bail-out package already in place. He will also review use of IMF funds already disbursed to the country, Narvekar said.

ASEAN stands firm on noninterference

ASEAN stands firm on noninterference MANILA (Agencies): Top officials denounced yesterday calls for the Association of Southeast Asian Nations (ASEAN) to drop its taboos against non-interference, maintaining only the Philippines and Thailand backed such a radical switch. "Non-interference has always been at the very core of our guidelines," said Nugroho Wisnumurti, an Indonesian Foreign Ministry spokesman at the meeting of the ASEAN Standing Committee.

Bankers say RI debt plan may be delayed

Bankers say RI debt plan may be delayed FRANKFURT (Dow Jones): Snags in negotiating Indonesia's US$64 billion of corporate debt to international lenders are likely to cause a delay in the planned Aug. 6 implementation of the country's overall debt-restructuring package, European bankers say.

Investment in Indonesia offers ripe pickings

Investment in Indonesia offers ripe pickings JAKARTA (JP): Foreign investors should pounce on prime investment opportunities in the country because now is the best time to buy, a leading business consultant has said. Harvey Goldstein, chief executive of business development consultancy Harvest International, conceded risks were greater at present but argued they were worth taking because of rewards from reduced costs and prices.

Kuntoro urged to end Soeharto monopoly

Kuntoro urged to end Soeharto monopoly JAKARTA (JP): An anticorruption group urged Minister of Mines and Energy Kuntoro Mangkusubroto yesterday to stop the monopoly long enjoyed by a company controlled by one of ex-president Soeharto's foundations on the production of gas container valves.

Evicted people set up union

Evicted people set up union JAKARTA (JP): Evicted people, whose lands were cleared to make way for development projects in the city and surrounding areas, pledged yesterday to take back thousands of hectares of their property. Their representatives established a new organization called Evicted Victims Community at the Jakarta Legal Aid Institute yesterday with the aim of negotiating with the government for the return of their lands.

Four robbers arrested

Four robbers arrested BOGOR (JP): Local police have arrested four out of seven men believed to have been involved in a series of robberies here, in Tangerang and Bandung, an officer said. Bogor Police chief Lt. Col. Edmon Ilyas said Monday the four suspects, identified as Lamsaud Galingging, 26, P. Harahap, 28, Sitanggang, 30, and Sihombing, 33, were arrested Saturday at their rented house on Jl. Baru, Cimanggu, Bogor.

Dili human rights office inactive

Dili human rights office inactive DILI, East Timor: The National Commission on Human Rights' representative office here has been inactive since May, with dozens of complaints on rights violations being neglected. The main reason for the office's inactivity is due to the fact that its chief supervisor, Alex Refialy, returned to Jakarta in May and has not been replaced. "Alex, as head of the office here, left in May.

Help for Agent Orange victims

Help for Agent Orange victims HANOI (Reuters): The Vietnam Red Cross Society will establish the country's first nationwide fund to help victims suffering from exposure to the chemical defoliant Agent Orange, an official said yesterday. The official said many areas across the country had already set up local funds, but a decree signed last month by Prime Minister Phan Van Khai instructed the Vietnam Red Cross to set up a nationwide vehicle for contributions.

The crisis budget

The crisis budget The 1998/1999 State Budget, currently being deliberated by the House of Representatives for its second amendment, is not much more than a crisis spending program. Faced with so many contingency elements because of the economic free fall, the budget, already in its fourth month of implementation, is designed mainly to help the government weather the present economic crisis with its potentially explosive social and political upheavals.

RP police general killed by stone

RP police general killed by stone MANILA (AP): A former Philippine police general who survived battles with Communist rebels was killed in a car when a stone thrown by a prankster along a northern Philippine highway hit him in the face, police said yesterday. Retired Brig. Gen. Orlando Antonio was killed early on Monday on a highway in Guiguinto in Bulacan province, regional police chief Arturo Lomibao said.