Indonesian Political, Business & Finance News

Archive: 10 September 1998

51 articles found

ABRI's dual function: Interference or assistance?

ABRI's dual function: Interference or assistance? J. Soedjati Djiwandono This is the third of three articles in a series on the dual function concept of the Indonesian Armed Forces. JAKARTA (JP): The socio-political role played by the Indonesian Armed Forces (ABRI) through its dwifungsi (dual function) policy is certainly not free from excesses.

Fear of retaliation following clash

Fear of retaliation following clash JAYAPURA: Irian Jaya Governor Freddy Numberi has asked the North Sulawesi administration to protect around 4,000 Irianese living in and around Manado following a fight between people from the two provinces in a remote area of Irian Jaya. He said he feared retaliation following clashes between people from North Sulawesi's Sangir Talaud ethnic group and residents of Biak and Dani in a gold mining area near Topo in Uwapa district, Nabire regency, on Aug.

Students stabbed at DPR still critical

Students stabbed at DPR still critical JAKARTA (JP): The two university students stabbed in a confrontation with police and troops early on Tuesday at the front gate of the House of Representatives (DPR) complex were still in a critical condition after more than 24 hours of treatment. According to their relatives, the two were still in the intensive care unit at Atmajaya Hospital in Pluit, North Jakarta, on Wednesday evening after undergoing emergency surgery.

Govt denies allegation over labor exports

Govt denies allegation over labor exports JAKARTA (JP): Minister of Manpower Fahmi Idris has denied labor export companies' allegations that the government plans to monopolize labor exports. "The government has insisted that there will be no monopoly in sending workers overseas and it will end all forms of monopoly in the labor sector," he said here on Wednesday.

Rubber producers pin hopes on output cut to boost prices

Rubber producers pin hopes on output cut to boost prices KUALA LUMPUR (Reuters): Asian rubber producers, against a background of regional crisis, agreed at a meeting on Wednesday to cut output in an attempt to lift sinking prices, officials said. "Producers have agreed at the meeting to cut production. Thailand will cut by at least 10 percent," Sanit Samosorn, deputy director-general at Thailand's agriculture department, told Reuters at the end of the meeting among leading producers.

Taiwanese agrarian model for RI economy

Taiwanese agrarian model for RI economy By Peter Richards JAKARTA (JP): Indonesia, the fourth most populous country in the world, often behaves like a banana republic characterized by small population with a single resource. This is a modified continuation of the dual economy of the Dutch colonial era. In this dated arrangement, the dominant (export) economy is carved out of the whole and has rich potential.

Goiter cases fall in Sulawesi

Goiter cases fall in Sulawesi UJUNGPANDANG, South Sulawesi: The frequency of goiter cases has declined in Sulawesi, except in Southeast Sulawesi, according to a health expert here. A. Razak Thaba, the head of a body which documents cases of the affliction here, said on Tuesday that a recent survey had revealed a sharp decrease in cases since 1990. The body sampled 100 elementary school children in three villages in each of 421 targeted districts and 300 pregnant women in each regency.

Dolog Jaya boss quizzed over dubious transaction

Dolog Jaya boss quizzed over dubious transaction JAKARTA (JP): The city police questioned the city's logistics agency (Dolog Jaya) head Ahmad Zawawi on Wednesday for almost five hours over alleged illegal rice transactions and rice exports to Kuching, Malaysia. Zawawi, who left the economics unit of the city police detectives department at 2:30 p.m., refused to go into detail about the questioning. "I'm a witness, not a suspect.

Minister warns of La Nina-induced floods

Minister warns of La Nina-induced floods JAKARTA (JP): The government has warned that La Nina-induced floods will threaten many Indonesian provinces, even as it admitted that the country has poor flood control contingency plans. Minister of Public Works Rachmadi Bambang Sumadhijo said after a lecture in Semarang on Wednesday that established flood control projects covered less than 10 percent of the areas vulnerable to flooding.

Govt told to let market decide cooking oil price

Govt told to let market decide cooking oil price JAKARTA (JP): Analysts have welcomed the government's decision to remove the subsidy on cooking oil but have urged the government to refrain from interfering further with trade in the commodity and allow the market to establish the price of the commodity.

Street singers protest high stapple prices

Street singers protest high stapple prices JAKARTA (JP): Dozens of street singers staged a protest on Wednesday at the Hotel Indonesia traffic circle in Central Jakarta, demanding a reduction in staple food prices and the return of all missing activists. Grouped in the Artist Forum for Reform (Foker), the singers chanted "hungry" and staged a theatrical performance.

Upsurge in political turmoil mutes local financial markets

Upsurge in political turmoil mutes local financial markets JAKARTA (JP): The country's financial market continued to succumb to heightening political instability at home and regional bearish sentiments, dealers and analysts said on Wednesday. They said the rupiah dipped to an intraday low of 12,450 against the U.S. dollar before recovering to 11,800 at the close of trading due to dollar selling by state banks. The local stock market also suffered losses, dropping 1.4 percent.

Where to go in Bali:

Where to go in Bali: Exhibitions * Painting Exhibitions, by Mohammed and Joni, in Artissimo Gallery, Novotel Benoa Bali, Tanjung Benoa (Phone: 0361 772239), 10 a.m. to 9 p.m., until Sept. 15. * Painting Exhibitions, in Ganesha Gallery, Four Seasons Resort, Jimbaran (Phone: 0361 701010): Images of Meditating Figures, by Jerry T, until Sept. 17. * Painting Exhibition: Journeys, by I Made Sumadiyasa, Neka Museum, Ubud (Phone: 0361 975034, 975074), 9 a.m. to 5 p.m., until Sept. 16.

Govt launches guidelines to settle domestic debt

Govt launches guidelines to settle domestic debt JAKARTA (JP): The government has launched an initiative to spur the recovery of the paralyzed private sector by providing incentives and eliminating regulatory obstacles to reaching out of court domestic corporate debt restructuring agreements. Coordinating Minister for Economy, Finance and Industry Ginandjar Kartasasmita said that private sector domestic debt was hampering recovery in the crisis-hit economy.

Slum residents to get ownership of their land

Slum residents to get ownership of their land JAKARTA (JP): The city administration is currently preparing a new decree that will allow residents living in a Pademangan slum area in North Jakarta to upgrade the legal status of their properties from state land into personal ownership, an official said on Wednesday. Deputy Governor of Economic and Development Affairs Budiardjo Soekmadi told reporters that the Pademangan area was currently under a renovation program.

KL party's youth to discuss Anwar

KL party's youth to discuss Anwar KUALA LUMPUR (AFP): The youth wing of Malaysian Prime Minister Mahathir Mohamad's ruling party will hold a special meeting to discuss the issue of dismissed deputy Anwar Ibrahim, party officials said on Wednesday. "UMNO Youth will hold a special meeting to discuss the Anwar crisis," a party official close to the youth movement said.

Japan's Asia exposure soars

Japan's Asia exposure soars TOKYO (Nikkei): Japan's top 19 banks had Y18.22 trillion (US$138 billion) in outstanding loans in Asian countries outside Japan as of March 31, according to the Federation of Bankers Associations of Japan, the Nikkei Financial Daily reported in its Wednesday edition. More than 40 percent of the lending was in five countries deeply suffering from the region's economic crisis - Indonesia, South Korea, Thailand, Malaysia and the Philippines.

Where to go in Surabaya:

Where to go in Surabaya: Music and Entertainment * Hyatt Regency Surabaya, Jl. Jend. Basuki Rakhmat 106-128 (Phone: 031 5311234): - The Tavern Pub: Cosindos Band, Monday to Saturday, 9 p.m. to 1:30 a.m., X-Men Band, Sunday, 9 p.m. to 1:30 a.m. - Lobby: Gamelan (Traditional Music), Monday to Saturday, 6 p.m. to 12 p.m., Solo Pianist, Monday to Saturday, 7 a.m. to 9 a.m. and 7 p.m. to 9 p.m. * Shangri-La Hotel, Jl. May. Jend.

RI co-hosts forestry meeting

RI co-hosts forestry meeting JAKARTA (JP): Indonesia is cosponsoring a four-day international forestry meeting, which opened in Ort/Gmunden, Austria, on Monday.

Local designers organize big show amid crisis

Local designers organize big show amid crisis JAKARTA (JP): In the continuing crisis, when business is painfully slow and people's purchasing power is weakening, do we have also to give up? "Definitely not," said designer Ramli. Ramli, who is famous for his embroidery technique, conceived the idea to assemble 29 colleagues in the fashion industry to do something about the situation.

W. Java chapter deserts from Mukhtar's union

W. Java chapter deserts from Mukhtar's union BANDUNG, West Java (JP): The Indonesian Prosperous Labor Union (SBSI) is facing a rebellion after all members and executives in the union's West Java chapter declared they had deserted from the labor organization chaired by Mukhtar Pakpahan. Aam Abdussalam, outgoing chairman of the West Java chapter of the SBSI, said in an open statement on Tuesday that their disappointment with Mukhtar's leadership was behind the decision to desert.

Activist urges RI not to let freedoms fade

Activist urges RI not to let freedoms fade JAKARTA (JP): Failure to institutionalize political openness this time around in a climate of relative freedom will lead to the old trap of gags on freedom of expression, a human rights advocate warned on Wednesday. Joseph Saunders of the New York-based Human Rights Watch told The Jakarta Post the current political openness must immediately usher in legal and institutional protection for basic rights, including freedom of expression.

Troubled banks vow to return credits

Troubled banks vow to return credits JAKARTA (JP): Owners of eight troubled banks have vowed to draw on their assets to pay back liquidity credits they received from Bank Indonesia, Deputy Attorney General Soehandjono said on Wednesday. "From the (owners of) nine banks now being questioned (by the Attorney General's Office), eight banks have vowed to repay the credits with their assets," Soehandjono told reporters at the Attorney General's Office in South Jakarta.

Three major fires erupt overnight

Three major fires erupt overnight JAKARTA (JP): At least three large fires were recorded in the city on Tuesday night, leaving hundreds of people homeless and without any belongings. No fatalities were reported but the fires illuminated the heavily populated residential areas of Pulogadung in East Jakarta, Cikini in Central Jakarta and Kelapa Gading in North Jakarta. Jakarta Fire Agency chief Suharso insisted that all of the fires were accidents.

ACIAR pledges more help for Indonesia

ACIAR pledges more help for Indonesia JAKARTA (JP): The Australian Centre for International Agriculture Research (ACIAR) said on Tuesday that it would increase cooperation with the Ministry of Agriculture's research and development agency to improve Indonesia's agricultural production. ACIAR's director Robert J. Clements said that it was critical to establish a research collaboration to develop sustainable agriculture expansion in Indonesia and help the country begin an economic recovery.

Chivalrous attitude

Chivalrous attitude One of the capital's dailies reported in its Sept. 6 edition Gen. (ret.) Rudini appealing to the community that it should stop its condemnation of the Indonesian Armed Forces (ABRI). On the previous day, Minister of Defense and Security/Commander of the Armed Forces Gen.

TV today

TV today TVRI 2:00 p.m. News: Berita 14 2:30 Music 2:35 Children's Film: Thundercats 3:05 College Program: Kuliah Universitas Terbuka 3:30 Science World 4:00 Regional News 4:30 Creative Program: Karya Kita 5:00 Arabic Lessons 5:30 TV Series: The Man from Uncle 6:00 News: Lintasan Berita 6:05 Documentary: Rona Nusantara 6:15 Sports 6:30 TVRI News (in English) 7:00 Evening News 7:35 Comedy: Sang Pangeran 8:00 News: Lintasan Berita 8:05 Comedy: Sang Pangeran (contd.) 8:20 Koran Recital 8:30...

Osama 'funded' RP militants

Osama 'funded' RP militants ISABELA, Philippines (AFP): Islamic militant Osama bin Laden channeled funds to a local fundamentalist group, a former Moslem guerrilla-turned-government official said here on Wednesday. Wahab Akbar, governor of Basilan and a former commander of the Moro National Liberation Front (MNLF), said bin Laden, a wealthy Saudi extremist, channeled an unspecified amount of money to the Abu Sayyaf, a local militant group in the early 1990s.

Stock Exchange

Stock Exchange Stock prices on the Jakarta Stock Exchange (in rupiah) on Sept. 9, 1998: Shares Close Change Trading Volume ------------------------------------------------------------- Ades Alfindo 325 0 0 AHAP Insurance 400 0 2,000 Alter Abadi 225 0 125,000 Alumindo Light Metal 175 -50 1,000 Alumindo Perkasa 225 0 0 Aneka Kimia Raya 150 0 10,000 Aneka Tambang 1,425 25 16,008,000 Anwar Sierad 75 0 0 Apac Centertex Corp.

Soekardjo retracts earlier statement

Soekardjo retracts earlier statement YOGYAKARTA (JP): A former bodyguard of president Sukarno retracted on Wednesday his statement that he saw the founding president forced at gunpoint in 1966 to sign the monumental document which set in motion Soeharto's ascent to the presidency. Soekardjo Wilardjito, 71, said he witnessed Gen. (ret.) Maraden Panggabean and Maj. Gen. Basuki Rachmat finger their pistols in their holsters while two other generals, Gen. (ret.) M. Jusuf and Gen.

Rally mars Habibie visit to Surabaya

Rally mars Habibie visit to Surabaya SURABAYA (JP): At least 17 people were injured during clashes between riot police and thousands of demonstrating students, workers and supporters of Megawati Soekarnoputri during a one-day visit by President B.J. Habibie here on Wednesday.

Villagers throw stones, rotten eggs at offices

Villagers throw stones, rotten eggs at offices JAKARTA (JP): Hundreds of angry Bekasi residents threw stones and rotten eggs at the local regency and council buildings on Wednesday to express their dissatisfaction over the installment of a new village head. The residents of Pahlawan Setia village arrived at the offices in five trucks at 9 a.m, witnesses said. The offices are both located in a complex on Jl. Ahmad Yani.

Conversion Rates

Conversion Rates JAKARTA (JP): Bank Ekspor Impor Indonesia's (Bank Exim) indicative conversion rates on Sept. 9, 1998: Buying Selling Rp Rp U.S.

Fair mayoral election demanded

Fair mayoral election demanded TANGERANG (JP): Hundreds of students rallied at the Tangerang legislative council here on Wednesday, demanding a fair and objective mayoral election for the 1998/2003 term. The students claimed to represent two groups, the Tangerang Students Communication Forum (FKMT) and the Tangerang Ukhuwah Islamiyah Forum (FUIT). Several councilors, including RS Ruchiyat of the council's Golkar faction, met with FKMT student leaders.

Stop denouncing Soeharto, Cendana lawyer says

Stop denouncing Soeharto, Cendana lawyer says JAKARTA (JP): A lawyer representing Soeharto called on the government and the National Commission on Human Rights on Wednesday to provide protection for the former president against slanderous and humiliating remarks. Johannes Yacob of the Cendana Consultancy Team (TKC), Soeharto's legal advisory group, said that defamatory remarks against the former president could prejudice public opinion and impinge on Soeharto's legal rights.

Salim not to sell assets to repay govt by Sept. 21

Salim not to sell assets to repay govt by Sept. 21 JAKARTA (JP): PT Indofood Sukses Makmur, a subsidiary of the giant Salim Group, said on Tuesday that the group did not intend to sell its assets to repay debts to the government by Sept. 21. Indofood denied media reports that the Salim Group had proposed giving the government assets and shares in a range of group units as part of a solution to problems at its flagship Bank Central Asia (BCA), the country's largest private bank.

Bapepam issues new rule

Bapepam issues new rule JAKARTA (JP): The Capital Market Supervisory Agency (Bapepam) issued a new ruling on Wednesday allowing publicly listed companies to carry over their foreign exchange losses arising from the rupiah's sharp depreciation against the U.S. dollar to the following years.

Govt honors Thomas Cup team

Govt honors Thomas Cup team JAKARTA (JP): President B.J. Habibie marked National Sports Day on Wednesday by presenting medals to the victorious Thomas Cup men's badminton team in Surabaya. The 10-member and its manager Agus Wirahadikusumah were granted Satya Kebudayaan medals at the 10 November Stadium in the East Java capital. Badminton coach Indra Gunawan and the team's deputy manager Mangombar Ferdinand Siregar received the Wira Karya medal.

Anwar slams police harassment of aides

Anwar slams police harassment of aides KUALA LUMPUR (AFP): Malaysia's ousted deputy premier, Anwar Ibrahim, accused police on Wednesday of continuing to harass his family, friends and former colleagues following the arrest of a brother over the weekend. "It is abundantly clear that up to now they do not have a case against me.

Life insurance and exchange rate

Life insurance and exchange rate In July 1997, I bought a life insurance scheme from Bringin Life, called Bringin Executive, in U.S. dollars. It was understood and clearly written in the agreement that all payments of annual premiums and claims will be calculated at Bank Indonesia exchange rate at the day the transaction is made.

The message for Habibie

The message for Habibie More harm than good. This, in a nutshell, is the restrained but nonetheless unequivocal official view of this week's student demonstrations in front of the nation's legislature in Jakarta. Of course, a more positive opinion can hardly be expected from these quarters. After all, the students' demands -- lower prices of essential commodities, President B.J.

'Reconciliation needs an end to prejudice'

'Reconciliation needs an end to prejudice' JAKARTA (JP): Renowned scholar Nurcholish Madjid said on Wednesday that national reconciliation would require an end to discrimination, including the stigma on political prisoners. "We can't keep being suspicious toward them all the time," Nurcholish said. A sense of alertness did not translate into constant suspicion, he added. The nation is grappling with the meaning of reconciliation following the end of the authoritarian Soeharto regime.

'MTV' VJ Nadya on a new track with South Korean stuntman

'MTV' VJ Nadya on a new track with South Korean stuntman JAKARTA (JP): "Nadya Yuti Hutagalung and Jung Doo Hong request the pleasure of your company at their wedding Sunday, 20th September 1998. Chijmes 2:30 p.m. Michelangelos 7 p.m. (Dinner)" reads the invitation.

RI's soccer team 'should be in Asiad'

RI's soccer team 'should be in Asiad' JAKARTA (JP): Acting All Indonesian Soccer Federation chairman Lt. Gen. Agum Gumelar said on Wednesday that the disgraced national team still deserved a shot at competing in December's Asian Games in Bangkok. Speaking after an executive meeting he presided over after taking over from Azwar Anas on Tuesday, Agum said he would ask approval from National Sports Council chairman, Wismoyo Arismunandar and State Minister of Youth Affairs and Sports Agung Laksono.

Rice looting continues in Pontianak, Kebumen calm

Rice looting continues in Pontianak, Kebumen calm JAKARTA (JP): Sporadic pillaging of rice and other basic commodities from shops and warehouses continued to be reported on Wednesday in and around the West Kalimantan capital of Pontianak. The Central Java town of Kebumen, meanwhile, which saw massive looting and vandalism earlier in the week, was gradually returning to normal.

Four boxers picked for Asiad

Four boxers picked for Asiad JAKARTA (JP): The Indonesian Boxing Association's secretary- general, Didit Soedijoto, announced on Wednesday the four boxers who will represent the country in the 13th Asian Games in Bangkok in December. The quartet -- light flyweight La Paene Masara, flyweight Hermansen Ballo, welterweight Bara Gommies and middleweight Albert Papilaya -- will leave for a three-month training stint in Cuba on Monday.

AmEx, Lippo sign deal

AmEx, Lippo sign deal JAKARTA (JP): American Express (AmEx) and Lippo Life have signed an agreement allowing AmEx cardholders to use their American Express Card to pay for Lippo Life insurance products and services across Indonesia. "This agreement is designed so that many AmEx cardholders can choose and pay for Lippo Life insurance products and services through their card," the companies said in a joint media release on Wednesday.

Death to rice hoarders

Death to rice hoarders Amid reports that many Indonesians are in dire need of rice, it is disturbing to learn that 80,000 metric tons of the commodity are being stashed, unused, in a warehouse in the Pulogadung industrial zone in Jakarta. Various cases that have come to light lately seem to indicate that many problems exist regarding the distribution of rice and other foodstuffs. In many cases this is because some unethical officials or traders are trying to benefit from the situation.

Revitalizing higher education

Revitalizing higher education By Freddy Kirana JAKARTA (JP): Empowerment of institutions is essential for the improvement of Indonesia's higher education system and practices. Dr. Nirwan Idrus says in his two articles, RI education system needs a revolution, printed in The Jakarta Post's Sept. 3 and Sept.

Garment producers cut back production by up to 60 percent

Garment producers cut back production by up to 60 percent JAKARTA (JP): The country's garment producers have been slashing their output by between 40 percent and 60 percent to cope with monetary crisis which has battered the country for more than one year, an official said Wednesday. The Ministry of Industry and Trade's Director General of Various Industries Doddy Soepardy said the decline in production would certainly lead to a decrease in the country's garment exports.

Govt sets 10 rules to hasten business recovery

Govt sets 10 rules to hasten business recovery JAKARTA (JP): In an effort to facilitate the restructuring of Indonesian companies, the government has introduced 10 rules. Some of these rules revise prior regulations, while others are new rules. The rules in question are as follows: 1. Revaluation of fixed assets (revision).