Indonesian Political, Business & Finance News

Archive: 18 September 1998

57 articles found

RI could have easily avoided crisis, says Lee

RI could have easily avoided crisis, says Lee SINGAPORE (Dow Jones): Singapore Senior Minister Lee Kuan Yew said Thursday that Indonesia could have easily avoided disastrous domestic consequences if former President Soeharto had listened to the market. "What has happened could so easily have been avoided," Lee said in a written response to a question posed at a press conference earlier this week.

Old coins found

Old coins found BANDA ACEH, Aceh: A woman has stumbled on 30 Spanish and Dutch coins dated between 1812 and 1824 while digging up soil in her garden in Pulau Aceh district, Aceh Besar regency, Antara reported on Thursday. Isa Ansari of the Office for the Collection of Historic and Ancient Artifacts in Banda Aceh said the silver coins were discovered inside a water vessel dug out by Sakdah, the 40-year old farmer, on Sept. 8.

Sinar Mas already paid 40% of May riot victims' claims

Sinar Mas already paid 40% of May riot victims' claims JAKARTA (JP): Insurance firm PT Asuransi Sinar Mas announced on Thursday it had paid 40 percent of the Rp 92.65 billion (US$8.3 million) it received in claims from owners of properties and motor vehicles damaged during the May riots. Sinar Mas president Kornelius Simanjuntak said the company extended Rp 37.65 billion (about US$3.4 million) to 201 policyholders out of the 282 claims from the three-day orgy of looting and vandalism.

Garuda 'may sell' headquarters building

Garuda 'may sell' headquarters building JAKARTA (JP): National flagship carrier Garuda may sell or lease its headquarters building in Jakarta to help it weather the grim financial storm, news reports said on Thursday. Antara quoted its source as saying that the ailing airline would move out of its current office located in one of Jakarta's most strategic business districts to a more modest area at the airport compound.

Malaysia closes entry to S'pore jets

Malaysia closes entry to S'pore jets KUALA LUMPUR (Agencies): Malaysian Prime Minister Mahathir Mohamad said on Thursday that a decision to bar Singapore Air Force planes from entering the country's air space was permanent. "Looks like it's going to be permanent, not temporary," the national Bernama news agency quoted him as saying.

Momentum for counter attack?

Momentum for counter attack? At the end of May 1998 President Soeharto stepped down as president of the Republic of Indonesia and in line with the 1945 Constitution he was automatically succeeded by his vice president B.J. Habibie. After his resignation Soeharto came under attack from all directions, mostly about his accumulation of wealth, about the way he ran this country and many other affairs including the businesses of his children. During these attacks Soeharto kept calm and silent.

Govt wants speedier probe on land swindle near airport

Govt wants speedier probe on land swindle near airport TANGERANG (JP): The Attorney General's office strongly urged local prosecutors to speed up a probe against alleged corruption of top officials in the 1981 acquisition of 13 hectares of land worth Rp 14 billion, which was supposed to be part of the Soekarno-Hatta International Airport project development.

PSSI announces punishments

PSSI announces punishments JAKARTA (JP): The All Indonesian Soccer Federation (PSSI) has temporarily banned the national soccer team's manager, its coach and a defender from international competition for causing the team to fall into disrepute following a recent Tiger Cup match. Newly appointed PSSI chairman Agum Gumelar, fresh from a trip to Malaysia, announced the punitive measures on Thursday following a week-long probe into the case.

BI net domestic assets expand

BI net domestic assets expand JAKARTA (JP): Bank Indonesia's net domestic assets (NDA) expanded Rp 1.34 trillion to minus Rp 72.59 trillion on Sept. 15 from minus Rp 73.93 trillion recorded on Sept. 7. The central bank said in a statement on Thursday that the NDA expansion was boosted by the government's withdrawal of Rp 1.3 trillion from Bank Indonesia (BI) to service due foreign debts and finance various subsidies.

Forestry ministers meet

Forestry ministers meet HANOI (AFP): Agriculture and forestry ministers from the Association of Southeast Asian Nations opened a two-day meeting here Thursday aimed at promoting inter-ASEAN food trade and boosting regional food security. It is the 20th ASEAN Meeting of Agriculture and Forestry Ministers, or AMAF.

E. Timor settlement: Referendum or autonomy?

E. Timor settlement: Referendum or autonomy? By Salvador J. Ximenes Soares DILI, East Timor (JP): The change of leadership in Indonesia, marked by the stepping down on May 21 of president Soeharto and the beginning of B.J. Habibie's tenure in office, noticeably affected the progress toward a settlement in East Timor.

Anwar not allowed to speak in Kelantan

Anwar not allowed to speak in Kelantan KUALA LUMPUR (Agencies): Malaysian police in eastern Kelantan state refused on Thursday permit to allow ousted deputy premier Anwar Ibrahim to hold a political forum, Bernama news agency reported. The application, made by an unidentified individual late on Wednesday, was turned down as it failed to comply with procedures, state police spokesman Muhammad Muda said.

A familiar story

A familiar story Our land, with it's reputation as a home to peaceful, smiling people, has been rocked by anti-Chinese riots once too often. Learning from experience, the authorities have not been pompous or arrogant enough to guarantee when these ugly demonstrations of hate and anger will end. The public has shouted itself hoarse through calling for control to be brought to bear on the situation, but despite this, all hell continues to break loose with frightening regularity.

Production accords for Timor Sea may change

Production accords for Timor Sea may change CANBERRA (Bloomberg): Australian oil and gas companies could be forced to renegotiate their production agreements in the Timor Sea if Indonesia provides any form of autonomy for East Timor, an industry executive said. Australia's opposition Labor Party has said it plans to support self-determination for the Indonesian province if it wins government in the Oct. 3 national election.

Food-laden ceremonies attract tourists to Tabanan

Food-laden ceremonies attract tourists to Tabanan Text and photos by Mulkan Salmona TABANAN, Bali (JP): In this island of gods, it seems that not a day passes without religious ceremonies and dances. Bali is rich in arts and culture, and this has become the main tourist attraction. One example is the rituals at a lavish dinner at Puri Anyar Kerambitan, a temple located in Tabanan district. The temple, which is usually deserted, was lively that night.

Stock Exchange

Stock Exchange Stock prices on the Jakarta Stock Exchange (in rupiah) on Sept.17, 1998: Shares Close Change Trading Volume -------------------------------------------------------------- Ades Alfindo 325 0 0 AHAP Insurance 400 0 0 Alter Abadi 200 0 127,000 Alumindo Light Metal 225 -100 500 Alumindo Perkasa 225 0 0 Aneka Kimia Raya 100 -25 165,000 Aneka Tambang 1,350 -25 22,675,000 Anwar Sierad 75 0 35,000 Apac Centertex Corp.

SE Asian currencies gain in lackluster trading

SE Asian currencies gain in lackluster trading SINGAPORE (Dow Jones): Southeast Asian currencies were marginally higher against the U.S. dollar in late trading Thursday, compared with levels seen Wednesday. The bulk of trading activity focused on filling one-off commercial orders, traders said, with interbank players sitting on the sidelines.

Get ready for euro: Banker

Get ready for euro: Banker JAKARTA (JP): Indonesian importers and exporters should prepare seriously to benefit from the introduction of a single currency in the European Union, a financial executive has said. Tony Jennings, Standard Chartered Bank's Euro coordinator for the Asia Pacific region, said the preparation was needed because the euro would be a legal currency from next year. Euro notes and coins will only be available on Jan. 1, 2003, but the currency will become legal tender from Jan.

PMI highlights its 53rd anniversary with donation

PMI highlights its 53rd anniversary with donation JAKARTA (JP): The Indonesian Red Cross (PMI) marked the celebration of its 53rd anniversary on Thursday with the handover of essential foodstuffs to the needy, H. Jusuf Talib, the head of PMI's central committee, said. Speaking at a flag-hoisting ceremony at PMI's headquarters here, Jusuf said the provision of food packages took place at 308 PMI branch offices across the country.

Where to go in Jakarta:

Where to go in Jakarta: Exhibitions * Javan Hawk-Eagle Exhibition, at The Hall of Japan Cultural Foundation, Summitmas I, Jl. Jend. Sudirman Kav. 61-62 South Jakarta (Phone: 5201266), 10 a.m. to 9 p.m., Sept. 18-19, 9 a.m. to 5 p.m., Sept. 20. * Photo Exhibition: Teater Tari Masa Kini - 30 Tahun Sejarah Tari Jerman, at Gedung Kesenian Jakarta, Jl. Pos No. 2, Central Jakarta (Phone: 3441892), 10 a.m. to 4 p.m., Sept. 20,23,24,27,29,30, 4 p.m. to 9:30 p.m., Sept. 21, 10 a.m. to 9:30 p.m., Sept.

Demonstrations rock rupiah, stocks again

Demonstrations rock rupiah, stocks again JAKARTA (JP): The country's financial market remained under severe pressure on Thursday due to escalating student demonstrations in the capital. Currency dealers said the rupiah ended the day at 11,200 against the U.S. dollar, down from 11,025 in late trading on Wednesday.

Syarwan urges end to protests against Habibie

Syarwan urges end to protests against Habibie JAKARTA (JP): Minister of Home Affairs Syarwan Hamid called on citizens to cease street demonstrations demanding that President B.J. Habibie step down. While admitting that street demonstrations played a part in the downfall of Soeharto's regime in May, when students across the country took to the streets, Syarwan said "mass-mobilizing" activities should not serve as a precedent to changing national leadership.

Public cast doubt on Soeharto investigation

Public cast doubt on Soeharto investigation JAKARTA (JP): Lawyers and activists expressed doubt on Thursday that the government-sponsored team assigned to investigate former president Soeharto's wealth would be allowed to work independently.

Legend Benyamin has gone but the memories remain

Legend Benyamin has gone but the memories remain JAKARTA (JP): It's been three years since legendary Betawi actor, comedian and singer Benyamin Sueb passed away, but many people still remember his humorous songs and his typical anecdotes of the native Jakartan culture, Betawi. People from all walks of life packed a seminar on Benyamin's contributions to Jakarta, held at the Nyi Ageng Serang building in Kuningan, South Jakarta last week.

Malaysia monitors deviationist groups

Malaysia monitors deviationist groups KUALA LUMPUR (AFP): Malaysian religious and law enforcement agencies are monitoring 55 Islamic groups allegedly spreading teachings that deviate from Islam and threaten national security, a minister said on Thursday. Minister in the prime minister's department Abdul Hamid Othman warned that the powerful Internal Security Act (ISA) -- which allows detention without trial -- may be invoked if the groups continued their activities.

Expo, discussion on Javan eagle

Expo, discussion on Javan eagle JAKARTA (JP): Does the Garuda, the national symbol of Indonesia, really exist? Or is it just a traditional mythological figure, verbally passed from one generation to the next? These questions will be answered at a Javan Hawk-Eagle exhibition here. Film screenings, an open discussion and slide presentations on the species will be held at the Japan Foundation, Sumitmas building, Jl. Jend. Sudirman, South Jakarta, from Friday to Sunday.

Soeharto's wealth: The key to Habibie's future

Soeharto's wealth: The key to Habibie's future By Tjipta Lesmana JAKARTA (JP): The success of the Philippines in recovering part of the wealth siphoned off by their ousted former president Ferdinand Marcos should serve as a lesson for Indonesians contemplating the recovery of some of the wealth allegedly stolen by former president Soeharto.

Night curfew in Bagansiapi-api to restore order

Night curfew in Bagansiapi-api to restore order JAKARTA (JP): A night curfew has been imposed in the fishing town of Bagansiapi-api in Riau province and schools have been temporarily closed in a bid to restore security following a riot on Tuesday night. Bengkalis Military Commander Lt. Col. Sutan Lubis said late Wednesday the situation in the town with a population of 50,000 remained explosive but hoped calm would return soon.

Cartoon contest with a theme of reform

Cartoon contest with a theme of reform JAKARTA (JP): The Association of Indonesian Cartoonists in cooperation with SIMA Communications public relations is organizing a cartoon contest with a theme of reform. Interested professional and amateur cartoonists are to send their creations on A3-sized paper to the PR office, Jl. Tebet Barat VIII, No 55A, Jakarta 12810. All entries must be in by Oct. 3.

Conversion Rates

Conversion Rates JAKARTA (JP): Bank Bali's bank notes conversion rates on Sept. 17, 1998: Buying Selling Rp Rp U.S.

Boxing body replaces Paene for Cuba stint

Boxing body replaces Paene for Cuba stint JAKARTA (JP): The Indonesian Amateur Boxing Association has dropped flyweight La Paene Masara from a pre-Asian Games training stint in Cuba after missing regular workouts for a week without giving notice. The association's chairman, Sang Nyoman Suwisma, said on Thursday less experienced Damianus Jordan had been named a last minute replacement for La Paene, who is a 1997 Southeast Asian Games gold medalist. "I'm very disappointed with his departure.

BA, Taiwan sign deal

BA, Taiwan sign deal JAKARTA (JP): State coal mining company PT Bukit Asam has signed a seven-year contract to supply Taiwan Power Company (Taipower) with 500,000 metric tons of coal per year from its mining field in Tanjung Enim, South Sumatra. Bukit Asam said in a statement on Thursday the contract was the largest individual export agreement ever made by the company.

Maluku to check famine report

Maluku to check famine report AMBON, Maluku: Vice Governor R.S. Soeranto has said the administration would investigate reports that thousands of people on Wetang and Marsela islands in Maluku Tenggara regency were facing famine. "I will ask for a report from the Maluku Tenggara regent," Soeranto was quoted by Antara as saying on Thursday.

Neiss' statement

Neiss' statement From Neraca IMF's Asia-Pacific director Hubert Neiss has reminded the Indonesian government to seriously handle the distribution of rice to prevent a further worsening of the crisis. It is strongly felt that the government's ability is very weak, because even in the matter of rice, the advice came from an outsider whose expertise is in the financial field. Moreover, as a nation we seem to have no authority anymore.

House resorts to voting on BPK nominations

House resorts to voting on BPK nominations JAKARTA (JP): The House of Representatives (DPR) has agreed to send forward three nominees for the powerful position of chairman of the Supreme Audit Board (BPK), but not before a rare vote was forced upon it by the minority United Development Party (PPP). The House dropped former finance minister Mar'ie Muhammad, known as "Mr. Clean", from the list of names put forward to President B.J. Habibie for a final selection.

Joint venture firms ready to face lawsuit

Joint venture firms ready to face lawsuit JAKARTA (JP): Executives of two joint venture water management companies insisted on Thursday that they were "ready to answer" a lawsuit filed last week by a group of 17 lawyers, who allege that their cooperative agreements are illegal.

'Money and power often still prevail' in Indonesian courts

'Money and power often still prevail' in Indonesian courts JAKARTA (JP): Former deputy chief justice Adi Andojo lamented the state of Indonesian courts on Wednesday, saying that money and power often still prevailed over justice. At a discussion on Wednesday night at the University of Indonesia, Adi was quoted by Antara as saying "one factor why cases are so piled up at the Supreme Court is that it is a deliberate means to extort money" from parties wanting their cases processed.

Right man in the wrong place

Right man in the wrong place Arnold Baramuli appears to have totally reformed the Supreme Advisory Council (DPA), which he heads. Whereas during the Soeharto administration, the DPA chairman, Soedomo, presented his advice to the president only once a month, Baramuli meets with President B.J. Habibie almost every week. Whereas in the past such meetings lasted for only half an hour at the most, Baramuli's meetings with President Habibie often go on for hours.

TV today

TV today TVRI 2:00 p.m. News: Berita 14 2:30 Music 2:35 Cartoon: Warner Kartun 3:05 Sports Program: Microlight 3:30 Village Program 4:00 Regional News 4:30 Performance: Cakrawala Budaya 5:00 Music: Paket 27 5:30 Education Quiz: Cerdas Cermat 6:00 News: Lintasan Berita 6:05 Documentary: Rona Nusantara 6:15 Sports News 6:30 TVRI News (in English) 7:00 Evening News 7:35 Music 8:00 News: Lintasan Berita 8:05 Music 8:30 Talk Show: Dialog 9:00 World News 9:35 Music 10:30 Late News 10:40 TV Series:...

Advertisement misleads 150 job seekers

Advertisement misleads 150 job seekers JAKARTA (JP): Some 150 people seeking jobs at the city administration based on a newspaper advertisement felt completely fooled on Thursday when they learned that the financially troubled administration had no plans to recruit new staff. With applications in their hands, the disappointed job seekers, mostly fresh university graduates, arrived at City Hall in Central Jakarta as early as 8 a.m.

Art Summit to focus on social realism

Art Summit to focus on social realism By Rita A. Widiadana JAKARTA (JP): On Saturday night, Art Summit Indonesia II; Performing Arts, a one-month international festival of contemporary performing arts, is launched in Jakarta. The event, which lasts until Oct. 19, is being held at the Taman Ismail Marzuki arts center and Gedung Kesenian Jakarta.

PT Cipendawa lays off majority of its workers

PT Cipendawa lays off majority of its workers JAKARTA (JP): Publicly listed poultry producer PT Cipendawa Farm Enterprise said on Thursday it had laid off 790 of its 946 employees as part of its cost-cutting measures to survive the hard-hitting crisis. The company said in a statement sent to the Jakarta Stock Exchange (JSX) management that the remaining 156 employees would continue to run the company's business operations.

Political bills submitted to House for deliberation

Political bills submitted to House for deliberation JAKARTA (JP): The head of a government team set up to formulate three political laws, Ryaas Rasyid, said that draft bills were submitted to the House of Representatives (DPR) for consideration on Wednesday.

House to debate bill on protests

House to debate bill on protests JAKARTA (JP): The government bill on freedom of expression, submitted in spite of massive public protests, passed its second reading on Thursday. The minority United Development Party (PPP) was the sole opposition and its proposal to reject the bill was quickly defeated by the Armed Forces (ABRI) and ruling Golkar factions. The Indonesian Democratic Party (PDI) said it neither opposed nor supported the reading of the bill.

Phone services disrupted

Phone services disrupted JAKARTA (JP): State telecommunication firm PT Telkom apologized to 500 of its customers in Rawamangun, East Jakarta, on Thursday for a disruption in their service which had started the day before. The deputy head of Telkom's East Jakarta office, Roetomo, said the disruption of services for its customers on Jl. Kayu Putih IX and Jl. Kayu Putih Selatan III, IV, V and VI was due to a minivan accident that had damaged a telephone cable house in the area at 1 p.m.

Expert says capital flood warning holds no water

Expert says capital flood warning holds no water BOGOR (JP): Predictions that Jakarta could be hit by massive flooding soon due to the effects of the La Nina weather phenomenon are baseless, a lecturer at the Bogor Institute of Agriculture said on Thursday. Hidayat Pawitan, a lecturer at the institute's Geophysics and Meteorology department, told The Jakarta Post that flooding predicted to take place later this year would not be made worse by La Nina.

ABRI watching new resistance group

ABRI watching new resistance group DILI, East Timor: East Timor Military chief Col. Tono Suratman said the authorities would not ban the Conselho National de Resistancia Timorese (CNRT), a new self-proclaimed resistance group, if its motive was to unite the people in the province. "But we will not allow its activities if they lead to disintegration," Suratman told reporters on Thursday. CNRT was proclaimed by Father Domingos Sousa on Sept.

Art Summit schedule of performances

Art Summit schedule of performances Sept. 19-20: Dance, Api Dalam Sekam (Fire in the Chaffs), Gusmiati Suid (Indonesia), Taman Ismail Marzuki (TIM), Jl. Cikini Raya 73, Central Jakarta (Phone: 3154087). Sept. 21-22: Music, Alvin Lucier (USA), Gedung Kesenian Jakarta (GKJ), Jl. Pos No. 2, Central Jakarta (Phone: 3441892). Sept. 22-23: Theater, Suku Naga (Dragon Tribe), Bengkel Teater Rendra (Indonesia), TIM. Sept. 25-26: Theater, The Topography of Images Yukio Waguri (Japan), TIM. Sept.

RI's international stakeholders

RI's international stakeholders By C.J. de Koning JAKARTA (JP): When monetary crises are spreading like an Asian flu, and effecting countries all over the world, it may be pertinent to study better cross border capital flows and financial risk taking. Take Indonesia for example. As at the end of June 1997, foreign fund providers had made available some US$210 billion, which consisted of $138 billion in loans to the government, banks and the company sector.

Jakarta theater to show Zheng's films banned at home

Jakarta theater to show Zheng's films banned at home By Yudha Kartohadiprodjo JAKARTA (JP): Cultural repression by an authoritarian government is not a good enough excuse for an art community to cease functioning. Indeed, this kind of control over society can become a source of inspiration. Mainland China director Zheng Yimou has been creating internationally recognized films despite being banned by his government.

ABRI argues for human rights decree

ABRI argues for human rights decree JAKARTA (JP): The Armed Forces (ABRI) on Thursday gave the green light for the People's Consultative Assembly (MPR) to issue a separate decree covering the protection of human rights. An ABRI spokesman, Maj. Gen. Agus Widjaya, also said the subversion law should be reviewed, Antara reported on Thursday.

Two ships collide near Singapore

Two ships collide near Singapore SINGAPORE (AP): Two ships collided early Thursday near the island of Pulau Sebarok, about four kilometers south of Singapore, the Maritime and Port Authority of Singapore said. Nobody was killed and no oil was spilled in the accident, the report said. Neither ship was in danger of sinking. The Liberian car carrier Hual Trinita was leaving the port of Singapore and heading east when it collided with the west-bound Panama-registered container vessel Ever Glory.

Legislators meet with Chinese envoy

Legislators meet with Chinese envoy JAKARTA (JP): Legislators met with the ambassador of the People's Republic of China on Thursday to discuss Beijing's perception of Indonesia following the May riots. Golkar legislator Pinantun Hutasoit questioned Chinese Ambassador Chen Shi Qiu on the subject during a meeting organized by the House of Representatives Inter-Parliamentary Cooperation Body, Antara reported on Thursday.

Vote against cotton duty

Vote against cotton duty BRUSSELS (Bloomberg): European Commission attempts to impose five-year anti-dumping duties on unbleached cotton imports from five developing countries appeared in jeopardy after a majority of EU governments voted against the plan, the Financial Times said, without citing sources. EU government officials voted eight to six against the plan to impose duties on China, Egypt, India, Indonesia and Pakistan, with one abstention.

On corruption

On corruption I would like to comment on Ms. Donna K. Woodward's two articles on corruption in international aid organizations published in The Jakarta Post on Sept. 2 and Sept. 3, as my request for "ethically approved and safe actions in facing the graft". Such actions, for example, might have been implemented during FD Roosevelt's administration. The things printed in the two articles are the bureaucratically set up Indonesian-approved ways of spending the money.

Mining firms concerned over illegal mining

Mining firms concerned over illegal mining JAKARTA (JP): Mining associations voiced concern on Thursday over escalating illegal mining activities and called on the government to restore order in the affected areas. The secretary-general of the Indonesian Coal Mining Association (IMCA), S. Hadiprayitno, and vice president of the Indonesian Mining Association (IMA) M.

Place ads in segmented media to reach their target: Experts

Place ads in segmented media to reach their target: Experts JAKARTA (JP): The president of the Indonesian chapter of the International Advertising Association, Yanti Sugarda, advised advertisers on Thursday to choose a medium which had a clear market segment. Speaking at a marketing and advertising seminar here, Yanti named The Jakarta Post and Femina women's magazine as media with the clearest market segments.