Indonesian Political, Business & Finance News

Archive: 23 September 1998

51 articles found

Rahardi leads trade mission

Rahardi leads trade mission JAKARTA (JP): An Indonesian trade mission led by Minister of Industry and Trade Rahardi Ramelan will visit Germany on Wednesday to promote trade, investment and tourism here. Rahardi said on Tuesday that 30 businessmen, several senior officials from the Ministry of Finance, Bank Indonesia and the Ministry of Tourism, Arts and Culture would attend a meeting in Germany called "The Indonesia of Today".

Ghalib denies start of Soeharto probe

Ghalib denies start of Soeharto probe JAKARTA (JP): Despite mounting public pressure, Attorney General Andi Muhammad Ghalib admitted on Tuesday his team had yet to launch an investigation into Soeharto's personal wealth, allegedly amassed illegally over his 32 years in power.

Malaysia steps up Anwar clampdown

Malaysia steps up Anwar clampdown KUALA LUMPUR (Agencies): The Malaysian authorities stepped up a clampdown on Tuesday on the reform movement launched by detained former deputy premier Anwar Ibrahim after two days of street clashes. Police surrounded Anwar's home where his wife, Wan Azizah Wan Ismail, has taken over leadership of the reform campaign.

World Bank must face the corruption music

World Bank must face the corruption music By Jeffrey A. Winters CHICAGO, Illinois (JP): At the end of July 1997, the World Bank's country director, Dennis de Tray, and the vice president for East Asia and the Pacific region, Jean-Michel Severino, issued an angry press release denying that a large portion of the bank's loan funds routinely leaked into the hands of corrupt officials in the Indonesian government.

ABRI denies confirming rapes during May riots

ABRI denies confirming rapes during May riots JAKARTA (JP): Minister of Defense and Security/Armed Forces (ABRI) Commander Gen. Wiranto denied on Tuesday he confirmed the occurrence of mass sexual assaults and rapes during the May riots in Jakarta and other cities, as some media reported. "There has not been any statement that the government finally admitted there were rapes," Wiranto said in a televised report.

Concession limits not to affect existing deals

Concession limits not to affect existing deals JAKARTA (JP): Minister of Forestry and Plantations Muslimin Nasution said on Tuesday a government plan to limit the amount of state forests controlled by individuals and companies would not affect existing logging contracts. Muslimin said the government would honor all of its existing logging contracts but warned he would revoke any permit held by concessionaires found to be violating logging and forest management regulations.

Cigareete levy for sports gets support

Cigareete levy for sports gets support JAKARTA (JP): The House of Representatives (DPR) supported on Tuesday the government's move to dust off an old proposal for an excise duty on cigarette sales to fund sports development.

Youths urge Habibie to dismiss Ghalib

Youths urge Habibie to dismiss Ghalib JAKARTA (JP): Muhammadiyah youths told President B.J. Habibie on Tuesday to sack Attorney General Andy M. Ghalib because he was too weak and did not have enough guts to investigate the alleged illegally acquired wealth of former president Soeharto and his cronies. Chairman of the Muhammadiyah Youth Organization Imam Addaruqutni warned Habibie that the country's political upheavals would continue unless the government took drastic measures to enforce justice.

The value of evidence

The value of evidence I would like to respond to Ms. Julia Suryakusuma's article "Power dictates whether proof of rape exists" that appeared in The Jakarta Post on Sept. 17, 1998. Ms. Julia Suryakusuma identified the ways in which the New Order government deals with the subject of "evidence" in connection with justice so well that further elaborations are hardly necessary.

PAL staff vote for closure

PAL staff vote for closure MANILA (AFP): Union members of debt-ridden Philippine Airlines voted Tuesday to reject the management's rehabilitation proposal, clearing the way for the flag carrier's closure as scheduled on Wednesday night, the labor department said. "Based on the result, 'no' prevailed," Labor Secretary Bienvenido Laguesma told reporters.

World leaders urge action on Asian crisis

World leaders urge action on Asian crisis UNITED NATIONS (AP): World leaders opened the first day of the General Assembly's annual debate Monday by urging an international effort to rein in the Asian financial crisis before it brings down more economies and calling for a comprehensive attack on terrorism. British Prime Minister Tony Blair offered to host a high-level conference in London this fall -- aimed at eliminating opportunities for terrorists to raise money.

Art summit schedule of performances

Art summit schedule of performances Sept. 25-26: Theater, The Wedding on the Field, Yukio Waguri (Japan), Taman Ismail Marzuki (TIM), Jl. Cikini Raya 73, Central Jakarta (Phone: 3154087). Sept. 26-27: Music, Tony Prabowo (Indonesia), GKJ. Sept. 29-30: Theater, Suku Naga (Dragon Tribe), Bengkel Teater Rendra (Indonesia), TIM. Oct. 1-2: Ballet, Also Egmont, Bitte. Fruuenbullett, Bremer Tanztheater (Germany), GKJ. Oct. 2-3: Music, Humoristique, Musicatreize (France), TIM. Oct.

Sukarno 'died slow death in seclusion'

Sukarno 'died slow death in seclusion' JAKARTA (JP): The nation's founding president Sukarno, who was officially declared dead of kidney failure on June 21, 1970, was "slowly killed" by Soeharto's government through his isolation, according to the former head of Sukarno's medical team. "If there are some people who say that Bung Karno was killed slowly, yes (it's) the one (the government) who locked him up that did it.

Stock Exchange

Stock Exchange Stock prices on the Jakarta Stock Exchange (in rupiah) on Sept.22, 1998: Shares Close Change Trading Volume -------------------------------------------------------------- Ades Alfindo 325 0 0 AHAP Insurance 400 0 0 Alter Abadi 175 0 0 Alumindo Light Metal 200 0 7,500 Alumindo Perkasa 225 0 0 Aneka Kimia Raya 125 0 50,500 Aneka Tambang 1,125 50 6,868,500 Anwar Sierad 75 0 0 Apac Centertex Corp.

Ratna briefs police on political standing

Ratna briefs police on political standing JAKARTA (JP): Playwright Ratna Sarumpaet, in her capacity as coordinator of the National Coalition, briefed city police chief Maj. Gen. Noegroho Djajoesman on Tuesday, about her political standing after she refused to abide by a police summons. "I told Pak Noegroho what we are doing in the National Coalition. A coalition is legal in any democratic country," she said after a one-and-a-half-hour meeting.

Buton island base for smuggling

Buton island base for smuggling KENDARI, Southeast Sulawesi: The Wangi-wangi island in the Buton regency has reportedly become a base for smuggling rice overseas, particularly to Singapore and Malaysia. The head of the regency's information office Amir Manab said he had not received official reports but said the island had become a center for smuggling goods overseas particularly garments and electronics. The island is in the Wakatobi islands, formerly known as the Tukang Besi islands.

Developed nations also to blame for crisis: Alatas

Developed nations also to blame for crisis: Alatas JAKARTA (JP): Minister of Foreign Affairs Ali Alatas reminded developed countries they could not blame developing countries for their economic crises, arguing they too were partly responsible for the hardships now facing many people. The minister said many developing countries had audaciously opened up their economies only to realize that the social and political costs of doing so often outstripped the benefits.

Pig enclosure protested

Pig enclosure protested TANGERANG (JP): Hundreds of residents of Kohod, Tanjung Burung, Tanjung Pasir and Melayu Barat villages in Pakuaji district here went to the Tangerang regency office on Monday, demanding the closure of a pig farm in their area. H. Sanusi, spokesman for the protesters, said they were forced to go to the regency office because the complaints they'd filed over the last few years had not been heeded.

The cost of a prized and pricey plate of rice

The cost of a prized and pricey plate of rice Text and photos by PJ Leo JAKARTA (JP): A meal is not a meal without a plate of rice to most people here. It is the food which provides them with the energy to get through their day. Naturally, the public, especially the poor, have been thrown into great distress due to the skyrocketing price of the staple food. Before the crisis, a kilogram of medium-quality rice cost Rp 1,000. Today, the price has quadrupled, and even low-quality rice is costly.

Japan to lend Malaysia $1.8b

Japan to lend Malaysia $1.8b KUALA LUMPUR (Reuters): Japan is considering a request from Malaysia for a yen loan of US$1.8 billion, visiting Japanese Minister of International Trade and Industry Kaoru Yosano said on Tuesday. He said Japan considered capital controls imposed by Malaysia earlier this month acceptable as emergency measures.

City to clear away political banners

City to clear away political banners JAKARTA (JP): Governor Sutiyoso reiterated an order to officials on Tuesday to take down all unlicensed political banners erected throughout the city over the past few weeks. Besides detracting from the capital's beauty, the cloth banners -- hanging on pedestrian bridges, trees, buildings and lampposts -- had been put up in places in complete disregard of city regulations, he said.

Freedom of expression decree comes under fire

Freedom of expression decree comes under fire JAKARTA (JP): Activists again urged the House of Representatives (DPR) to reject the controversial government decree which purports to limit freedom of expression -- a call which was promptly supported by some legislators.

Pertamina to rework Humpuss tanker deal

Pertamina to rework Humpuss tanker deal JAKARTA (JP): State oil and gas company Pertamina will renegotiate tanker fees with Pacific LNG Transport Ltd, an affiliate of Soeharto family-owned PT Humpuss, for the shipment of liquefied natural gas (LNG) from Bontang, East Kalimantan, to foreign markets. Pertamina president Soegianto said on Tuesday the fee charged by Pacific's Dwiputra tanker was much higher than that of other operations to the same destinations.

In search of good governance

In search of good governance By Mochtar Buchori JAKARTA (JP): I find reflecting on old and new wisdom a very enlightening exercise. It can provide a different view of our national problems -- a view that makes the situation look more soluble. The following is an example. A friend of mine who is a professor of constitutional law went to see a traditional healer to seek treatment for a member of his family. He witnessed the entire healing process and could not believe what he saw.

Imminent global crisis haunts RI economy

Imminent global crisis haunts RI economy Indonesia and neighboring crisis-hit Asian countries have failed to find quick solutions to their monetary crises. Economist Sri Mulyani Indrawati, vice chairwoman of the University of Indonesia's Center for Social and Economic Studies, discusses possible impacts on the world economy.

Police warn public of U.S. dollar swindle syndicate

Police warn public of U.S. dollar swindle syndicate JAKARTA (JP): The city police have issued a public warning over the rising incidence of U.S. dollar swindles allegedly perpetrated by foreigners targeting gullible city residents desperate to make easy money. Chief detective Col. Gories Mere said on Tuesday that the foreigners, most of whom allegedly come from African countries, had taken advantage of the depreciation in the value of rupiah against the U.S.

The value of books

The value of books It is one of the great paradoxes of life in Indonesia that although better learning standards have long been recognized as a basic necessity for promoting progress, books have always been classified as luxury items that must be taxed accordingly.

Sweden aids forestry project

Sweden aids forestry project JAKARTA (JP): The Swedish government has agreed to provide a 4.22 million Swedish krona (US$515,000) grant for a forest and land rehabilitation project in Sumatra. The agreement for the grant, which will be used to finance the Integrated Watersheds Rehabilitation and Environmental Development in Batanghari river basin in Jambi, was signed by Swedish Ambassador Harald Sandberg and Minister of Forestry and Plantations Muslimin Nasution here on Tuesday.

RI needs market control

RI needs market control By Peter Sheehan and David Ray MELBOURNE (JP): In the months since the fall of the Soeharto government, Indonesia has begun a remarkable political transformation, and a new democratic nation is slowly beginning to take shape. But at the same time the economy has deteriorated sharply, in spite of strenuous efforts to implement the International Monetary Fund (IMF) program and substantial foreign support.

Malnutrition a threat to Central Java kids

Malnutrition a threat to Central Java kids SEMARANG (JP): Nutritional deficiencies could jeopardize the health of eight million infants in Central Java, a hospital administrator warned on Tuesday. "If the economy continues like this, more and more parents will not be able to meet their children's nutritional needs," said Sulaeman, the director of the Dr. Kariadi General Hospital in this provincial capital.

Southeast Asian currencies down on U.S. dollar rally

Southeast Asian currencies down on U.S. dollar rally SINGAPORE (Dow Jones): Southeast Asian currencies finished Asian trading hours on Tuesday marginally lower against the U.S. dollar, as the U.S. currency once again nosed above Y135 to the Japanese yen. The Singapore dollar, the Thai baht and the Philippine peso all slipped in line with the Japanese currency, while in North Asia both the won and the new Taiwan dollar fell against the U.S. dollar.

Teachers' rice delayed in Kei

Teachers' rice delayed in Kei AMBON, Maluku: Hundreds of elementary teachers in the Kei Besar District have yet to receive their rice rations allocated for February and March, resulting in threats of a strike. "I've summoned the former district treasurer in charge of the rations and he has pledged to pay the rice in the beginning of October," regent Husein Rahayaan said on Tuesday.

BHP sees no E. Timor impacts

BHP sees no E. Timor impacts MELBOURNE (Dow Jones): Broken Hill Proprietary Co (BHP) chairman, Jerry Ellis, said Tuesday that potential political change in East Timor will not impact the company's business. "I don't believe the changes in the political situation there would impact the shareholder value of BHP," he said in response to a shareholder's question. Ellis was speaking at the company's annual meeting in Perth.

Conversion Rates

Conversion Rates JAKARTA (JP): Bank Bali's bank notes conversion rates on Sept. 22, 1998: Buying Selling Rp Rp U.S.

Anwar accused of plotting Indonesian-style uprising

Anwar accused of plotting Indonesian-style uprising KUALA LUMPUR (AFP): Malaysian Prime Minister Mahathir Mohamad accused his former deputy Anwar Ibrahim on Tuesday of plotting an Indonesian-style uprising and said he had no immediate plans to step down. Breaking a two-day silence following the arrest of Anwar and several associates, Mahathir said Anwar had returned to his radical student days and "become a rebel rouser who wants to instigate violence.

ABRI never blinded by power, says Wiranto

ABRI never blinded by power, says Wiranto BANDUNG (JP): Minister of Defense/Armed Forces (ABRI) Commander Gen. Wiranto asserted here on Tuesday the military had never and would never be blinded by power. He stated that the military had never thought of taking control of the country during the leadership crisis in May, saying ABRI remained committed to safeguarding a constitutional and peaceful leadership succession.

Thai minister seeks curbs on currency speculation

Thai minister seeks curbs on currency speculation WASHINGTON (Reuters): Thailand's Foreign Minister Surin Pitsuwan urged the international community on Monday to come up with ways to control currency speculation, warning that market- opening reforms in developing nations were at stake. "The world, I think, has an urgent need to come together and look very, very carefully... into the negative impact of this very, very volatile speculative activity," Surin said.

Kuta cafe owners in rift with locals on religious reason

Kuta cafe owners in rift with locals on religious reason By Putu Wirata DENPASAR, Bali (JP): Owners of 30 cafes along the Kuta beach are now in conflict with the Hindu community in the area. People want the cafes to be demolished because they disturb the annual religious ceremony performed by the Hindus along the beach. The Badung administration, which has the authority over Kuta, has agreed that by October, all of the cafes must be torn down.

Regent marked up appropriation

Regent marked up appropriation SURABAYA: Tuban regent Col. Hindarto was reprimanded by Governor Maj. Gen. Imam Utomo for marking up the costs for appropriation of 141 hectares of land in four villages in the Kerek district for the expansion of PT Semen Gresik. The regent was also found to have placed compensation funds amounting to Rp 5.66 billion in the personal account of the head of his finance office, instead of the local treasury.

TV today

TV today TVRI 2:00 p.m. News: Berita 14 2:30 Music 2:35 Children's Film: Thunder Cats 3:05 TV Series: Daktari 4:00 Regional News 4:30 Teen Program: Remaja Indonesia 5:00 Science and Technology 5:30 Documentary: The Winner 6:05 Documentary: Rona Nusantara 6:15 Sports 6:30 TVRI News (in English) 7:00 Evening News 7:35 TV Drama: Jangan Ambil Suamiku 8:00 News: Lintasan Berita 8:05 Health News: Lintas Kesehatan 8:30 News: Laporan Peristiwa 9:00 World News 9:35 Traditional Drama: Misteri Konde Suku...

Dialog in art summit

Dialog in art summit JAKARTA (JP): The second art summit is not only about dance, music and theater performances. It also includes a two-day dialog to update participants about current developments and trends in the art world. Organized by the art summit committee, the dialog, which is scheduled for Wednesday and Thursday at the Hotel Alia on Jl.

Reconciliation an urgent matter

Reconciliation an urgent matter From Neraca I was greatly saddened to read a front-page report in one of Jakarta's daily newspapers which revealed that 33 sub-districts in the capital are now classified as poor, a figure which stood at 11 before the crisis. According to the report, many residents in these 33 areas are suffering from a shortage of food but have unfortunately been ignored by the sub-district authorities.

Misleading ad due to 'poor coordination'

Misleading ad due to 'poor coordination' JAKARTA (JP): Governor Sutiyoso admitted on Tuesday that shoddy coordination between the city administration and the Ministry of Home Affairs was behind the publication of a job vacancy advertisement which misled hundreds of job seekers. Acknowledging it was caused by "bad coordination between us", Sutiyoso said the Sept. 12 advertisement's recruitment figures were based on outdated ministry data from last year.

Salim, Nursalim agree to settle Rp 78t debts

Salim, Nursalim agree to settle Rp 78t debts JAKARTA (JP): The government said on Tuesday that the Salim and Gajah Tunggal groups had agreed to settle Rp 78 trillion (US$7 billion) in debts belonging to failed banks they controlled by ceding shares in almost all their global investments to the government.

Will 'Jakarta Initiative' succeed in its daunting purpose?

Will 'Jakarta Initiative' succeed in its daunting purpose? By Eddy Soeparno JAKARTA (JP): The Indonesian government recently announced The Jakarta Initiative, by forming a Task Force to coordinate the restructuring process of Indonesia's mounting private sector debt, estimated to be around US$65 billion. The principles laid out for the restructuring exercise (which to date are believed to be non binding), will be used as a guideline for all corporate workouts involving foreign creditors.

MPR body commits to clean governance

MPR body commits to clean governance JAKARTA (JP): Factions in the Ad Hoc Committee II of the People's Consultative Assembly (MPR) have all endorsed the draft special decree on the eradication of corruption, collusion and nepotism.

Government may lift import duty, VAT on automotive spare parts

Government may lift import duty, VAT on automotive spare parts JAKARTA (JP): The government may lift both the import duty and value-added tax (VAT) on automotive parts in a bid to salvage the crippled automotive industry and the transportation sector, Minister of Industry and Trade Rahardi Ramelan said on Tuesday.

Inco cuts output but not growth

Inco cuts output but not growth UJUNGPANDANG, South Sulawesi (JP): PT International Nickel Indonesia (Inco) has cut production of its nickel in matte by 30 percent to 70 million pounds (31.8 million kilograms) per annum due to the commodity's falling international price. Inco president Rumengan Musu said here on Tuesday that the international price of nickel had dropped from US$2.50 per pound a year ago to $1.85 per pound now. "Production cuts have resulted in falling income.

Toll road sees drop-off in usage

Toll road sees drop-off in usage JAKARTA (JP): The volume of traffic along the 72 km Jakarta- Cikampek toll road has dropped 10 percent to 30 percent since the beginning of the economic crisis in July last year. The drop has resulted in a significant decline of toll revenue collected by state-owned toll road operator PT Jasa Marga, a company official said on Monday.

JIEP sticker scheme may be delayed

JIEP sticker scheme may be delayed JAKARTA (JP): City councilors asked the management of the Pulogadung industrial estate in East Jakarta on Tuesday to postpone its plan to require vehicles passing through the area to display stickers. During a meeting with executives of the city-owned PT Jakarta Industrial Estate Pulogadung (JIEP), the councilors also urged the management to first seek legal approval from the governor before imposing the rule.

Stocks up 1.5% while rupiah remains stable

Stocks up 1.5% while rupiah remains stable JAKARTA (JP): Share prices on the local tattered market rose 1.5 percent on Tuesday after some foreign investors made late buying orders on selected stocks which had been under selling pressures over the past few days, a stockbroker said. Currency dealers said the rupiah remained stable, closing at 11,100 against the U.S. dollar in moderate dealing.