Indonesian Political, Business & Finance News

Archive: 24 August 1998

52 articles found

Malaysia may have snap election

Malaysia may have snap election KUALA LUMPUR (AFP): Malaysian Prime Minister Mahathir Mohamad was quoted yesterday as saying he had not ruled out the possibility of an early general election. "I do not rule out the suggestion but I have to study the matter first," Mahathir was quoted by The Sunday Star newspaper as saying in the eastern state of Kelantan. He was asked to comment on a statement by former deputy prime minister Ghafar Baba that the government might hold an election soon.

Council firm on choice of Sultan

Council firm on choice of Sultan YOGYAKARTA (JP): The provincial legislative council here warned the central government over the weekend that they would accept nothing but a confirmation of Sri Sultan Hamengkubuwono X as the new Yogyakarta governor. "The Yogyakarta provincial legislative council will strongly oppose President B.J.

RP may ask for IMF waiver

RP may ask for IMF waiver MANILA (AFP): The Philippine government may ask a International Monetary Fund (IMF) mission to waive fiscal targets earlier agreed upon due to low revenue collection, sources said here yesterday. The request will come when government negotiators meet with the IMF mission arriving this week, the sources who are close to the government panel said.

Finding out how to be your own boss from the Internet

Finding out how to be your own boss from the Internet By Zatni Arbi JAKARTA (JP): A report in the Aug. 17 issue of Business Week struck me. While the unemployment rate in the U.S. is still at its lowest point so far and it's actually a job-seeker's market, the story is not so good for those nearing the top of their hills, and worse still for those who already belong to the category of "over-the-hill".

Street children seek escape on the streets

Street children seek escape on the streets JAKARTA (JP): Childhood is supposed to be the best time of our lives, when we get to wallow in the unconditional love of those around us, spend long days having fun and think nothing of the stresses of adulthood lying ahead. Try telling that to Satriadi, 13, Reza, 12, and Deri, 15, whose young lives are marked by a daily struggle to survive.

Number of poor Jakartans trebles

Number of poor Jakartans trebles JAKARTA (JP): The number of Jakartans living beneath the poverty level has more than trebled to 861,000, or nearly 10 percent of the total population of 9.3 million, since 1996, according to the Jakarta Central Bureau of Statistics. The head of the bureau's population section, Rusmandesiar, said over the weekend the number was only 231,000 in 1996.

Plywood market looking up, says Apkindo chief

Plywood market looking up, says Apkindo chief JAKARTA (JP): Plywood prices in international markets have gradually started to recover after a sharp decline since early this year, according to the Association of Indonesian Wood Panel Producers (Apkindo). Apkindo executive director A. Tjipto Wignjoprajitno said Saturday the price in Asian markets reached US$260 per cubic meter late last month over $230 in June.

Where to go in Jakarta:

Where to go in Jakarta: Exhibitions * Photo Exhibition: A Part of Indonesian Historical Journey, at Galeri TC, Jl. Kemang Raya No. 24A, South Jakarta (Phone: 7194278), Sunday, at 10:30 a.m. to 12 p.m., Monday to Thursday, 11:30 a.m. to 11:30 p.m., Friday to Saturday 11:30 a.m. to 1:30 a.m., until Aug. 24. * Painting Exhibition: Sisi Lain, Orang Indonesia dan Negerinya, by, Galeri Santi, Jl. Benda No. 4, Cilandak Timur, Kemang, South Jakarta (Phone: 7806079), 10 a.m. to 6 p.m., until Aug. 30.

Travel bans on bankers

Travel bans on bankers UJUNGPANDANG, South Sulawesi (JP): Attorney General A. Muhammad Ghalib vowed yesterday that he would soon issue travel bans on all bankers of troubled banks. Ghalib also vowed to pursue the bankers through legal process to get back any state funds channeled to their banks. "All state wealth must be returned as soon as possible.

Armed Forces elders

Armed Forces elders From Pikiran Rakyat The euphoria of reform has reached a new height of intensity with the establishment of the National Front, which has declared itself a forum serving as the government's opposition. I was a little surprised when one of its founders, Lt. Gen. (ret.) Triantoro, said that in addition to serving as the government's opposition, the National Front would also "deflate" the leadership of Golongan Karya (Golkar).

Kalimantan mining row may go to int'l court

Kalimantan mining row may go to int'l court By Johannes Simbolon JAKARTA (JP): A dispute between Taiwanese coal mining company PT Chung Hua Overseas Mining Development and the Indonesian government over the company's contract termination is likely to be settled in the international arbitration court.

Reform openness brings blessing to book publishers

Reform openness brings blessing to book publishers By A. Ariobimo Nusantara JAKARTA (JP): With the end of the New Order and the advent of the Reform Order, most bookshops in Indonesia have been flooded with reform-themed books and works exploring the dark side of the Soeharto's regime. The book business has found the right marketing ploy when the pinch of the ongoing economic crisis is being acutely felt.

Trading likely to taper off in wake of banking move

Trading likely to taper off in wake of banking move JAKARTA (JP): Trading activity in the local stock market is expected to taper off this week as investors take a "wait-and- see" attitude following the government's suspension of three banks and its acquisition of four others, stock analysts and brokers have said. Analysts said late last week that investors would stay on the sidelines during the early part of this week to see if the government move causes any bank runs.

Palu beefs up security on eve of PDI congress

Palu beefs up security on eve of PDI congress JAKARTA (JP): Authorities tightened security in Palu, Central Sulawesi, over the weekend as participants of the pro-Soerjadi Indonesian Democratic Party (PDI) began arriving to attend a five-day congress. Hundreds of armed troops and riot police were deployed at Palu airport to escort the arriving delegations.

RI needs to make a quick turnaround

RI needs to make a quick turnaround The Habibie government is clocking up a hundred days this week. Political analyst J. Soedjati Djiwandono assesses how far it has gone in reforming the New Order government. JAKARTA (JP): The fall of president Soeharto was by no means the end of the reform movement.

Amien launches 'modern' party

Amien launches 'modern' party JAKARTA (JP): Amien Rais launched his much-anticipated National Mandate Party (PAN) here yesterday, declaring it a "modern" party open to all ethnicities and religions. The declaration ceremony became a media and public magnate, as 10,000 people flocked to the Istora sports hall in Senayan, Central Jakarta.

Businesses want bankruptcy law enactment delayed

Businesses want bankruptcy law enactment delayed JAKARTA (JP): Business associations are urging the government to delay the implementation of the new bankruptcy law, saying it will only benefit the creditors. The chairman of the Indonesian Real Estate Association, Edwin Kawilarang, said Friday the law must not be enacted while the economic situation remained uncertain.

Malaysia satisfied with Australia's explanation

Malaysia satisfied with Australia's explanation KUALA LUMPUR (AFP): Malaysia's Commonwealth Games chief said yesterday he was satisfied with comments from a top Australian sports official, who denied he had earlier cast doubt on Malaysia's capability to organize next month's games. "Crosswhite has given an explanation which says that he was misunderstood by the press while giving advice to athletes from his country," Hashim Mohamad Ali was quoted as saying by Bernama news agency.

New banking measures 'not enough'

New banking measures 'not enough' JAKARTA (JP): Banking measures taken by the country's financial authorities last week are not enough to reassure investors that the government is serious about restructuring the ailing industry. The Center for Strategic and International Studies executive director, Mari Pangestu, said investors still doubted the government's seriousness, given the lack of a clear scenario and timetable to further clean up the troubled banking sector.

New national curriculum not possible until 2000

New national curriculum not possible until 2000 JAKARTA (JP): Despite strong calls from education experts to revise the 1994 national education curriculum quickly, officials say the revised edition will not be ready until 2000 at the earliest. Head of the Center for Curriculum Development and Educational Instruments, Djamil Ibrahim, said that overhauling a curriculum was no easy task; requiring thorough consideration and preparation.

TV today

TV today TVRI 2:00 p.m. News: Berita 14 2:35 TV Series: The Big Valley 3:05 Religious Teachings 3:30 TV Drama: Sketsa 4:00 Regional News 4:30 Creative Program: Karya Kita 5:00 Indonesian Lessons 5:30 Education Quiz: Tangkas Cermat 6:00 News: Lintasan Berita 6:05 My Country: Rona Nusantara 6:15 Sports: Monitor Olah Raga 6:30 TVRI News (in English) 7:00 Evening News 7:35 Cultural Programs on Independence featuring Guruh Soekarno Putra and Bagito group 8:00 News: Lintasan Berita 8:05 Cultural...

Hery wins national drag race

Hery wins national drag race JAKARTA (JP): With the absence of defending champion Robert J. Paul of Canada, Hery Agung easily won the fourth leg of the national drag race yesterday at Sentul, Bogor. Paul did not compete in the one-day race due to engine trouble just moments before the race began. Hery of Semarang and driving a Nissan Fairlady, clocked 11.361 seconds.

Object at BNI tower not a bomb

Object at BNI tower not a bomb JAKARTA (JP): An object found at Wisma BNI 46 tower, Central Jakarta, on Friday was not a bomb as initially reported, city police chief Maj. Gen. Noegroho Djajoesman said Saturday. "There was an object which looked like an explosive device, but it turned out not to be a bomb after we analyzed it," he said. "So please do not quickly jump to conclusions here. I want people to be calm." Noegroho identified the object as a metal box.

Bank Indonesia clarifies

Bank Indonesia clarifies In reference to the Reuters news article dated June 23, 1998 and used in The Jakarta Post June 25 edition headlined Indonesia and its Central Bank sued for US$58.59 billion, Bank Indonesia as the central bank of Indonesia would like to clarify that Bank Indonesia has never received and/or withheld proceeds allegedly from the investment program administered by the Group of B.A. Ltd. in its account with Chase Manhattan Bank or otherwise.

S'pore rules ex-Amcol leaders

S'pore rules ex-Amcol leaders SINGAPORE (Bloomberg): A Singapore court has found three former directors of the failed Amcol Holdings Ltd. guilty of failing their duties as directors in exercising reasonable diligence in relation to a loan and remittances to an Indonesian venture, the Straits Times said Saturday, citing district court judge Koh Juat Jong. The three are: Robin Kang Thian Leng, Chng Heng Tiu and Johnny Kesuma.

Pakistani govt comes under fire over U.S. strike

Pakistani govt comes under fire over U.S. strike ISLAMABAD (AFP): Pakistan's government is coming under mounting pressure from military and religious figures to come clean over whether it supplied vital information to the United States for last Thursday's missile strikes on Afghanistan. Former army chief Mirza Aslam Beg, in a statement published yesterday, alleged the government allowed U.S.

Singapore dependent on Malaysia, RI: Goh

Singapore dependent on Malaysia, RI: Goh SINGAPORE (Bloomberg): Singapore's Prime Minister Goh Chok Tong started his National Day Rally speech last night by focusing on the economic problems of the island-state's neighbors, which determines Singapore's future, he said. "Our country is facing a big test -- the economic situation in Asia will get worse before it gets better. The problems spill over to us.

'Suara Medeka' may face suit

'Suara Medeka' may face suit PURWOKERTO, Central Java: The provincial legislature along with the Banyumas City Council are considering filing a libel suit against Suara Medeka daily for publishing a report which alleged that council speaker Warsono Nursoleh took bribes from deputy governor Djoko Sudantoko. The daily has a large circulation in Central Java. Warsono told The Jakarta Post here last night that the Banyumas City Council and the provincial legislature may file a joint suit.

Taiwan still weighing rice deal with RI

Taiwan still weighing rice deal with RI TAIPEI (Agencies): The regional outcry against the May riots in Indonesia in which ethnic Chinese became the main target continued over the weekend, with the protests showing signs of influencing bilateral ties. The Taiwan government said it was still considering a rice trade proposal with Indonesia despite growing calls here for punitive measures against Jakarta for its failure to stop assaults on ethnic Chinese during the May riots.

Cleaning up banks

Cleaning up banks The Indonesian government, in a long-awaited move, finally acted firmly to clean up the country's beleaguered banking industry by freezing the operations of three insolvent private banks, nationalizing four others and merging four state banks. More encouraging is the expediting of the preparations of litigation cases against bad bankers, both directors and shareholders.

Let Supreme Court decide 'Pak' De's case: Noegroho

Let Supreme Court decide 'Pak' De's case: Noegroho JAKARTA (JP): City Police chief Maj. Gen. Noegroho Djajoesman has said it was up to the Supreme Court to review the ruling against Mohammad Siradjuddin, alias Pak De, who was sentenced with life imprisonment for murdering fashion model Dietje in 1986.

Epidemics threaten China as floodwaters spread

Epidemics threaten China as floodwaters spread BEIJING (AFP): China's Health Minister Zhang Wenkang warned of epidemics as raging floodwaters from the northeastern Nenjiang river wiped out the third line of dikes protecting the country's most important oilfield, state media reported yesterday. Zhang said widespread flooding across huge areas of central China's Yangtze river basin and in the far northeast this summer threatened a mass outbreak of the water-borne snail fever, or schistosomiasis.

Tigaraksa offer for investors

Tigaraksa offer for investors TANGERANG (JP): The Tangerang Regency Office has opened Tigaraksa, the regency's future capital, to developers to speed up relocation, which has been delayed for 11 years, an official said over the weekend. Chairman of the Regional Development Planning Agency, Agus Rachmat, said Saturday the offer was made following the cancellation of a contract between the regency office and the appointed developer for Tigaraksa, PT Panca Wiratama Sakti (PWS), as of July 25.

Military readies reshuffle list

Military readies reshuffle list BANGKOK (AP): Thailand's military will submit its annual reshuffle list to Prime Minister Chuan Leekpai this week, setting up a possible confrontation over a tainted general, The Bangkok Post reported yesterday. Military brass have been saying in recent weeks that they support Gen. Chainarong Noonpakdi as its new commander in chief. But aides to Chuan, who is also defense minister, have said he is almost certain to amend the list if the army nominates Chainarong.

Police shoot dead fugitive in chase

Police shoot dead fugitive in chase JAKARTA (JP): Police shot dead a man believed to be a member of a group of armed robbers in a daylight street chase on Jl. Darmawangsa, South Jakarta, over the weekend. South Jakarta police chief Lt. Col. Satrya Hari Prasetya told The Jakarta Post Saturday that the suspect, identified only as Doyok, was shot twice in the chest and head for resisting arrest. "Officers of the mobile detective squad called Doyok when he was spotted walking on Jl.

Malaysian prisons angered by movie

Malaysian prisons angered by movie KUALA LUMPUR (AP): Malaysia's Prisons Department has lodged a police report against an American movie charging it depicts the Southeast Asian nation's prisons in a false light, a news report said. Polygram Films, "Return to Paradise" tells the fictional story of an American man imprisoned on drug charges in Malaysia after a reckless vacation with two friends in the northern state of Penang.

Osama frequent visitor to RP: Paper

Osama frequent visitor to RP: Paper MANILA (AFP): Saudi millionaire Osama bin Laden, accused of sponsoring terrorist attacks around the world, is a frequent visitor to the Philippines and one of his wives is a Filipina Moslem, a local newspaper reported yesterday. The Philippine Daily Inquirer quoted intelligence sources as saying Osama "is a frequent visitor to the Philippines, particularly in Mindanao", the main southern island which is home of the country's Moslem minority.

Golkar and PPP confident of gains in next election

Golkar and PPP confident of gains in next election JAKARTA (JP): Golkar and the United Development Party (PPP), which swept the most seats in the past five general elections, remained confident of a strong showing in the next election despite the political fallout and competition from new parties. Golkar chairman Akbar Tandjung, and PPP official Hadimulyo, expressed confidence over the weekend that people would still support and trust the two political groupings.

AusAID awards

AusAID awards On Aug. 15, The Jakarta Post published a letter regarding the selection process for scholarships provided to Indonesia by the Australian government through the Australian Agency for International Development (AusAID). I am very pleased that this year AusAID is providing 360 scholarships for Indonesians to undertake post-graduate study in Australia.

Free abortions offered for May riot rape victims

Free abortions offered for May riot rape victims By Stevie Emilia JAKARTA (JP): More than three months have passed since the May riots, and some rape victims may now be finding their trauma compounded by pregnancy. There have been no arrests on rape charges and the police claim not one woman has come forward to file a report of rape or sexual assault. Some have even dismissed the reports as untrue and a calculated attempt to blacken the image of Indonesia abroad.

Police halt search for bodies

Police halt search for bodies AMBON, Maluku: Elat Police in Southeast Maluku halted Saturday its search for five missing passengers of KM Diamond Star which sunk Aug. 9, Antara reported. Two died -- one identified as Anthonius Yeuyana while another was unidentified -- when the overloaded boat serving the Tual- Elat rout sank in a storm. Those still missing have been identified as Alex Leisomar, Fahmi Fata, Saleh Morseil, Helena Yeuyunan and Fita Yeuyanan.

Ex-Aceh governor physically attacked by angry Acehnese

Ex-Aceh governor physically attacked by angry Acehnese JAKARTA (JP): Former Aceh governor and minister in Soeharto's cabinet, Ibrahim Hasan, was attacked by a man during a break in a discussion on the province's development held at Hotel Cempaka in Central Jakarta, Saturday morning.

JSX delists Perdana Inti, warns 24 other companies

JSX delists Perdana Inti, warns 24 other companies JAKARTA (JP): The Jakarta Stock Exchange (JSX) has temporarily delisted PT Perdana Inti Investama and has warned 24 other poorly performing companies they would receive similar punishment if they failed to strengthen their ailing businesses. The JSX said Saturday that Perdana Inti would be delisted from the market from today until the company came up with a concrete program to improve its performance.

The art of not learning English

The art of not learning English By Tri Hafiningsih JAKARTA (JP): You need to improve your English but don't have the time or simply cannot afford to enroll on one of those lengthy and expensive English courses. A common problem? But if you think you can solve it by teaching yourself with the aid of some 'affordable' self-study books then you are probably gravely mistaken.

'No porno VCDs please'

'No porno VCDs please' BANJARMASIN, South Kalimantan: Owners of video compact disc (VCD) rental stores and movie theaters here have been urged not to lease or screen pornographic films to their customers. In a meeting with local businesspeople from across the province Saturday, Governor Gusti Hasan Aman reminded them that such films could provoke "sexual crimes, adultery and sexual harassment".

Government's bank restructuring measures

Government's bank restructuring measures JAKARTA (JP): The following is an edited text of the government's statement on banking restructuring measures which was announced Friday. To revitalize national economic activity, and to regain public confidence in the country's banking industry, the Indonesian government today, Aug. 21, 1998, is taking substantial measures to support the existing bank restructuring policy.

Habibie set up team on E. Timor's status

Habibie set up team on E. Timor's status JAKARTA (JP): President B.J. Habibie assigned on Saturday the National Development Planning Board to formulate development policies for East Timor in accordance with the special status it will be accorded.

A way out of the liquidity crisis

A way out of the liquidity crisis By C.J. de Koning This is the first of two articles on a proposed solution to Indonesia's liquidity crisis. JAKARTA (JP): Correctly identifying the basis of Indonesia's liquidity crisis is essential in determining the best method to reach a solution. A recently published document by the World Bank, Indonesia in Crisis (Washington, July 16, 1998), says: "The crisis, after all, is a crisis of confidence in the rupiah.

Police chief removed

Police chief removed BOGOR (JP): Head of Citeureup's police precinct, Second Lt. Hotman Siagian, has been removed from duty due to the escape of 11 suspects from the precinct's detention center on Aug. 1. An officer at Bogor Police Headquarters said Saturday that Hotman handed over his position to First Lt. Dedi, formerly head of the Leuwiliang precinct, in a ceremony Friday. The officer, who asked for anonymity, said Hotman would return to Bogor Police Headquarters.

A look at Thailand's and RI's property markets

A look at Thailand's and RI's property markets By Greg Penn JAKARTA (JP): The property markets of both Thailand and Indonesia have been decimated by the economic crisis. In Thailand it has been a slow sinking feeling since 1996 while the Indonesian property market has visibly plunged over the past six months and arguably is in a more critical state than Thailand.

Governor gives trendy food stalls seal of approval

Governor gives trendy food stalls seal of approval JAKARTA (JP): Governor Sutiyoso inaugurated 126 street cafes located at the southern end of the National Monument (Monas) Square in Central Jakarta on Saturday night. The colorful tents enliven the area, which is usually dark at night, with their sparkling lamps and lanterns hanging along the walkways and fancy lights at some of the cafes.

RP to tap $1b from Japan

RP to tap $1b from Japan MANILA (AFP): A Philippine government holding firm will tap a special US$1 billion loan from Japan to fund development projects, it was announced here yesterday. Dakila Fonacier, general manager of the state-owned National Development Corp. (NDC) said the Japanese firm, Marubeni Corp., communicated the offer of the 40-year loan which will have a 0.75 percent interest and a 10-year grace period.