Indonesian Political, Business & Finance News

Archive: 24 September 1998

53 articles found

Stock prices rise again on Paris debt agreement

Stock prices rise again on Paris debt agreement JAKARTA (JP): Local stock prices rose for a second consecutive day on Wednesday due to late buying of undervalued blue chip stocks and renewed confidence following an agreement between the government and the Paris Club to roll over part of the country's sovereign debt, stockbrokers said. The rupiah remained stable, closing at 11,075 against the U.S. dollar.

Sudwikatmono taken to court

Sudwikatmono taken to court JAKARTA (JP): Bambang Sutrisno sued his former business partner Sudwikatmono in South Jakarta District Court on Wednesday for failing to pay US$10 million for the acquisition of the plaintiff's 50 percent share in the Golden Truly Group as allegedly agreed last September. Lawyer Sudjono said on Wednesday he filed the lawsuit on behalf of his client, Bambang, who is currently in Singapore.

Three maids jailed for jewelry theft

Three maids jailed for jewelry theft JAKARTA (JP): The Central Jakarta District Court sentenced three housemaids on Wednesday to three months in prison for stealing jewelry worth Rp 2 billion (US$181,820) belonging to their employers. Presiding judge Djafni Djamal said defendants Ai Nurhasanah, 28, Harini Samala, 26, and Sumarni, 24, were found guilty of stealing the jewelry which was buried by their employers at their residence on Jl. Purwakarta in the plush area of Menteng in July.

Sutiyoso launches fund-raising program

Sutiyoso launches fund-raising program JAKARTA (JP): Governor Sutiyoso announced on Tuesday that several businessmen and city officials had expressed their readiness to use the interest paid on the deposit of Rp 300 million (US$28,571), to help poor people severely affected by the monetary crisis. Speaking in a ceremony for the handover of 10 tons of rice to the poor, he said the money would be deposited in a bank to be decided on later.

Group calls on Indonesians to give support to Anwar

Group calls on Indonesians to give support to Anwar JAKARTA (JP): A group led by a prominent lawyer and human rights activist called on the public on Wednesday to lend their support to the detained former Malaysian deputy prime minister Anwar Ibrahim. Lawyer Adnan Buyung Nasution said that the Committee of Indonesian Solidarity for Anwar Ibrahim (Komite Sianwar) was set up after Anwar's arrest on Sunday and was based on the principle of "innocent until proven guilty".

Indonesia ranks high on corruption index

Indonesia ranks high on corruption index WASHINGTON (Reuters): Indonesia and other countries which won billions of dollars of international loans are seen as among the most corrupt nations in the world, according to a survey released on Tuesday. The 1998 Corruption Perceptions Index from corruption watchdog Transparency International gives just one country, Denmark, a perfect 10, showing that investors, risk analysts and the public think Denmark and its leadership are clean.

'Fiskal' money pilfered

'Fiskal' money pilfered From Merdeka I was flabbergasted by the statement from the Attorney General's office of suspicion that fiskal money (tax paid by travelers going abroad) pilfered at Soekarno-Hatta airport from 1997 until now amounted to Rp 600 billion. It is a staggering amount of money to be defrauded from one place during one year. Either the perpetrator is a very skillful operator -- or has the opportunity been created?

Donations to boarding houses

Donations to boarding houses BOGOR (JP): West Java Governor R. Nuriana handed over donations in the form of fish, hens, corn seeds and fertilizer to 10 Islamic boarding houses in Bogor on Tuesday. The donations were given to representatives of the boarding houses in a ceremony at Mekarwangi village in Tanah Sareal district, Bogor. The governor also gave 1,000 food packages to poor families in the area. Each package consisted of five kilograms of rice, 1 kg of cooking oil, and instant noodles.

Economic crisis severely hits car parts producers

Economic crisis severely hits car parts producers JAKARTA (JP): Auto parts producers have been the worst hit by the economic crisis out of all those involved in the country's automotive industry, according to an industry executive. The chairman of the Association of the Indonesian Automotive Industries (Gaikindo), Herman Latief, said on Wednesday that many of the first-line suppliers of auto parts had started to "one by one collapse".

ABRI at a crossroads

ABRI at a crossroads One of the institutions worst hit by the current crisis of confidence is the Armed Forces (ABRI). This institution, which under the New Order regime exercised the real power in this country, is now hobbled. Like a hero in a Chinese kung fu tale, crippled by a blow to his main artery, its eyes are angrily watching but its energy is sapped.

Lampung's poor start fisheries

Lampung's poor start fisheries BANDAR LAMPUNG, South Sumatra: Poor families in Lampung have started farming fish and redeveloping neglected plots, in projects designed to assist those in need. On Wednesday, the projects involving thousands of farmers in South Lampung regency, started with the symbolic scattering of 30,000 fish fry by Lampung Governor Oemarsono, Antara reported. The ceremony took place in the Sidomukti village in the Tanjungbintang district.

Japan pledges to help ASEAN

Japan pledges to help ASEAN TOKYO (AFP): Japan will start to use public sector capital as a new form of assistance to Southeast Asian countries in addition to aid within the IMF framework, a report said Wednesday. Tokyo will use trade insurance to back private sector loans to members of the Association of Southeast Asian Nations (ASEAN) hit by currency turmoil, Nihon Keizai Shimbun business daily said. The first such loan will be provided to Malaysia by Sumitomo Bank Ltd.

PLN welcomes Hopewell decision on Tanjung Jati

PLN welcomes Hopewell decision on Tanjung Jati JAKARTA (JP): State electricity company PT PLN said on Tuesday that it welcomed the decision by Hong Kong-based company Hopewell to suspend its power station project in Tanjung Jati, Central Java. PLN's president Adhi Satrya said the suspension of the 1,320- Megawatt (MW) coal-fired Tanjung Jati B power station project would help PLN rein in the excess supply of power in the country which has developed since the monetary crisis began.

1965 coup film no longer obligatory

1965 coup film no longer obligatory JAKARTA (JP): Minister of Information Muhammad Yunus said on Wednesday all television stations would no longer have to screen a government-produced film on the 1965 coup attempt blamed on the Indonesian Communist Party (PKI). Instead, he said, all stations would have to air other films with "similar nuances" designated by the government each year.

Public transport destroyed in Jambi

Public transport destroyed in Jambi JAMBI: Residents of Jambi ran amok and destroyed eight public transportation vehicles on Tuesday. The residents were disappointed passengers who had been left stranded due to a transport strike. Destruction of six vehicles took place around the Angso Duo market, Jambi's main shopping area. Antara reported on Wednesday that the strike was launched in a protest against traffic police charged with being unfair in issuing violation tickets.

Students rally to deny communist accusations

Students rally to deny communist accusations JAKARTA (JP): A huge number of students staged massive rallies in Jakarta on Wednesday, apparently to reject accusations leveled by various parties that their actions were being exploited by those who followed the communist ideology. "We want to announce here that our actions are not being exploited by communism," Ardian, an action coordinator from the Indonesian Christian University, said.

Salim cuts stake in HK's firm

Salim cuts stake in HK's firm HONG KONG (Dow Jones): Indonesia's Salim Group has cut its stake in Hong Kong's First Pacific Co. to 26 percent from 31 percent, by transferring shares to a new holding company owned by the Indonesian government, the Salim Group said Wednesday. The transfer is part of an agreement the Salim Group made to settle Rp 48 trillion in outstanding liabilities, according to a press release by First Pacific.

RI, Paris Club agree on debt rescheduling

RI, Paris Club agree on debt rescheduling JAKARTA (JP): The Paris Club creditor nations agreed on Wednesday to reschedule US$4.2 billion in principal payments of Indonesia's sovereign debt to allow the country to focus on financing its economic reform programs and help the poor weather the acute crisis.

SE Asian monies defy recent trading patterns

SE Asian monies defy recent trading patterns SINGAPORE (Dow Jones): Currencies in Southeast Asia defied recent trading patterns during Asian hours on Wednesday, as the baht and the Singapore dollar strengthened despite a sharp fall in Japanese yen. Regional currencies elsewhere in Asia failed to buck the yen's trend, however, as the Philippine peso, South Korean won and New Taiwan dollar all lost ground against the U.S. dollar.

Top China military chief to retire

Top China military chief to retire JAKARTA (JP): China's top military chief will be forced into retirement due to a series of economic-related scandals that have tarnished the People's Liberation Army (PLA), Jane's Defence Weekly reported this week. Beijing-based sources told the magazine that Gen.

Police question Bulog employees in Zawawi case

Police question Bulog employees in Zawawi case JAKARTA (JP): Police questioned two State Logistics Agency (Bulog) employees at city police headquarters on Wednesday over alleged malfeasance in the distribution of rice in the capital. Police needed the testimonies of Anton Wuriyanto and Heru Priyono to help determine whether former head of the Jakarta Logistics Agency (Dolog Jaya) Ahmad Zawawi had committed any wrongdoing during his tenure in office, said Lt. Col.

Honesty, education and the market

Honesty, education and the market By Iwan Darmansjah JAKARTA (JP): At last two men, none other than Alvin Toffler (Jakarta Post Sept. 12, 1998) and George Soros (Kompas Sept. 17, 1998), have come out with arguments that have justified my long- held conviction that a global market economy is bad for developing countries. Although many people have already voiced this opinion, it becomes clearer and clearer by the day.

Pertamina loses $30.7m in production stoppages

Pertamina loses $30.7m in production stoppages JAKARTA (JP): State oil and gas company Pertamina said on Tuesday it had suffered a loss of US$30.7 million over the past four years due to production stoppages at its giant refinery in Balongan, West Java.

Land owners complain

Land owners complain JAKARTA (JP): Nine people, who claimed to be the owners of a 6,650-square-meter plot of land in Cilincing, North Jakarta, visited the National Commission on Human Rights on Monday to complain about the illegal appropriation of their land. Mustopha, their spokesman, said that their land in Rorotan subdistrict was bulldozed in June, last year, by private warehousing company PT Cakung Remaja with the help of soldiers.

Mahathir: Not in Soeharto's shoes

Mahathir: Not in Soeharto's shoes By Brian Williams KUALA LUMPUR (Reuters): "Reformasi" rang out on the streets of Indonesia four months ago and a long-ruling president cracked down and then came tumbling down. The same word rang out on the streets of Malaysia this week and another veteran ruler cracked down. The world is waiting to see if Mahathir Mohamad also comes tumbling down.

World Bank is doing all it can for crisis-hit Indonesia

World Bank is doing all it can for crisis-hit Indonesia By Dennis de Tray JAKARTA (JP): Jeffrey Winters' attack on the World Bank published on this newspaper yesterday is stuck in the past at a time when Indonesia and all who wish it well urgently need to focus on the present and the future. To overcome its crisis, Indonesia needs solutions. We at the World Bank are heavily focused on providing them. We are playing a major part in helping many millions of poor Indonesians to survive.

Farmers stage protest in Medan

Farmers stage protest in Medan MEDAN, North Sumatra (JP): Thousands of farmers from a number of regencies in the province staged a peaceful demonstration at the governor's office here on Wednesday to demand land ownership reform. The farmers, grouped in the People's Movement for Agrarian Reform, urged the government to settle numerous land disputes in the province and to draw up a bill on farmers' rights protection.

Ex-minister back cigarette excise tax for sports fund-rising

Ex-minister back cigarette excise tax for sports fund-rising JAKARTA (JP): Two former state ministers of youth affairs and sports, Hayono Isman and Abdul Gafur, have thrown their weight behind the use of an excise duty on cigarette sales to fund sports development. Hayono, who served from 1993 to last March, said on Wednesday it was only to be be expected that the government would shoulder the burden of financing sports activities because the public was suffering in the crisis.

Govt education campaign shows signs of success: Juwono

Govt education campaign shows signs of success: Juwono JAKARTA (JP): High public awareness of the need for education has helped keep down the number of school dropouts according to government estimates, Minister of Education and Culture Juwono Sudarsono said on Wednesday. This was one of a number of factors which Juwono said was helping to keep children in school, particularly between elementary and high school levels, despite worsening economic hardship.

Riot flares after forced shaving

Riot flares after forced shaving SEMARANG (JP): An emotional mob burned down a brass handicraft factory in Bedono, Semarang, on Wednesday after its manager and two security guards allegedly mistreated 62 workers, including 22 women. The abuse, punishment for alleged thefts, reportedly included forcing the workers to get their heads shaved. Manager Pujiono and security guards Sumadi and Jalaludin fled from the factory and sought protection with the police in Semarang and Salatiga.

10,000 jobless join labor intensive project

10,000 jobless join labor intensive project JAKARTA (JP): A total of 10,120 jobless people with senior high school backgrounds will participate in an eight-month labor intensive project in Jakarta, beginning on Wednesday.

New ruling on reforestation fees

New ruling on reforestation fees JAKARTA (JP): The government is to revise the collection system of reforestation fees from timber companies to avoid late payments, a senior official at the Ministry of Forestry and Plantations said on Wednesday. Director General of Forest Utilization Harnanto H. Martosiswojo said timber companies would now be obliged to pay the reforestation funds in advance and not after they sold their logs or wood products.

Ometraco asks court for debt payment suspension

Ometraco asks court for debt payment suspension JAKARTA (JP): PT Ometraco Multi Artha (OMA), a subsidiary of publicly listed PT Ometraco Corporation, has asked the Jakarta Commercial Court to issue a payment suspension order for its US$140 million debt to a group of local and overseas banks. In a hearing on Wednesday, presiding Judge Haryono opted to postpone his decision on the request until next week to allow the court to verify submitted company documents.

Head of criminal gang shot dead

Head of criminal gang shot dead TANGERANG (JP): Tangerang police detectives shot dead a notorious leader of a gang of robbers in a raid at Nagrak village in Jatiuwung subdistrict in the wee hours on Wednesday. Tangerang Police chief Pudji Hartanto said the detectives were forced to shoot Amir Syarifudin, 38, in the back after firing two warning shots because he fought back against them and tried to escape during the incident at 3:10 a.m.

Calls mount for serious investigation of Soeharto

Calls mount for serious investigation of Soeharto JAKARTA (JP): Students protested on Wednesday's President B.J. Habibie's administration for "lacking the guts" to probe Soeharto's wealth, while, separately, rights activists also demanded an investigation into the former president's cronies. A poll also issued on Wednesday revealed that the majority of respondents did not believe Soeharto's recent assertion on television that he did not have a fortune stashed in overseas banks.

Where to go in Surabaya:

Where to go in Surabaya: Exhibitions * Cultural Programs of French Cultural Center (CCCL) Jl. Darmokali 10 (Phone: 5678639): - French Film: Gazon Maudit, 2 p.m., 7 p.m., Sept. 24-25. - Documentary Film, 6 p.m., Sept. 26. - Monologue by Agus Nuramal, 11 a.m., Sept. 26. - Dance: Barongsai, 5 p.m., Sept. 27. - Photo Exhibition: 50th anniversary of the human right declaration, 9 a.m. to 8:30 p.m., Sept. 25-27. - Photo Exhibition: Indonesia - Paradox Cultural, Herve Dangla, 9 a.m. to 8:30 p.m., Sept.

IMI rejigs calender of events for 1999

IMI rejigs calender of events for 1999 JAKARTA (JP): The Indonesian Motor Association (IMI) has rescheduled its calender of events for 1999 due to the economic crisis, chairman Bob Nasution said on Wednesday. Bob said that the autosports governing body would concentrate on national competitions, rather than the organization of international events. "We have decided to hold only 53 national events, a considerable reduction from 72 events already listed in our calendar for this year," Bob said.

Fahmi sounds out warning on growing number of labor unions

Fahmi sounds out warning on growing number of labor unions JAKARTA (JP): Minister of Manpower Fahmi Idris has sounded warning bells about the rapid growth in number and strength of labor unions, saying management will need to adapt to the new situation. The number of unions has now grown to 11 since June, when the government ratified an International Labor Organization's convention on workers' right to organize, Fahmi told senior journalists at a luncheon at his office on Wednesday.

Art summit schedule of events

Art summit schedule of events 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), Gedung Kesenian Jakarta (GKJ), Jl. Pos No. 2, Central Jakarta (Phone: 3441892). Sept. 29-30: Theater, Suku Naga (Dragon Tribe), Bengkel Teater Rendra (Indonesia), TIM. Oct. 1-2: Ballet, Also Egmont, Bitte. Frauenballett, Bremer Tanztheater (Germany), GKJ. Oct.

Rewriting history

Rewriting history The Soeharto government was inclined to deny the notion that history is God's own footpaths, as historian Arnold Toynbee once put it. The regime, like other despotic powers, was also a pesky revisionist. Biased history textbooks became commonplace from the beginning of Soeharto's rule, as did the abuse of many other important media through which the identity of the nation is moulded such as films, the award of medals and the recognition of heroes.

Conversion Rates

Conversion Rates JAKARTA (JP): Bank Bali's bank notes conversion rates on Sept. 23, 1998: Buying Selling Rp Rp U.S.

Sabah folk flee 200m waterspout

Sabah folk flee 200m waterspout KUALA LUMPUR (DPA): A 200-meter-high waterspout which suddenly formed off the coast of Malaysia's Sabah state sent people fleeing who thought it was the La Nina phenomenon about to descend upon them, a report said on Wednesday. The Star daily said powerful winds, which sent beach stalls and furniture flying at a beach resort, started blowing on Tuesday afternoon in Sabah's state capital, Kota Kinabalu.

Students clash with police over beating

Students clash with police over beating JAKARTA (JP): Dozens of students from STM PGRI VII technical high school in Central Jakarta clashed with riot police on Wednesday after one of their peers was beaten by the officers. After successfully driving the police out of the privately run school on Jl. Salemba Raya, the students locked the compound's front gate and pelted the officers with stones, bricks and broken glass.

Commitment to human rights and reform sought

Commitment to human rights and reform sought JAKARTA (JP): Human rights protection and commitment to democratization are key factors in rehabilitating the country's poor image, participants at a seminar said on Wednesday. The speakers included human rights advocate Marzuki Darusman and non-governmental organization activist Bambang Ismawan.

Where to go in Bali:

Where to go in Bali: Exhibitions * Painting Exhibitions: Cakrawala Seni, Museum Puri Lukisan - Yayasan Ratna Warta, Jl. Raya Ubud, Ubud (Phone: 0361 975136), 8 a.m. to 5 p.m., until Oct. 8. * Painting Exhibitions: Manifold Changes, by Davina Stephens, in Ganesha Gallery, Four Seasons Resort, Jimbaran (Phone: 0361 701010), 12 p.m. to 8 p.m., until Oct. 28. Music and Entertainment * Sheraton Nusa Indah, Nusa Dua (Phone: 0361 771906): - Poolside: Cultural Dances, Thursday and Monday, 7:30 p.m.

Thailand may bar KL opposition

Thailand may bar KL opposition BANGKOK (Reuters): Thailand said on Wednesday it was ready to cooperate fully with Malaysia to prevent Malaysian opposition figures fleeing the country across the Thai border. A spokesman for the Ministry of Foreign Affairs said Malaysia had made no official request for Thai assistance in monitoring travelers or to close the border following the arrest of ousted finance minister Anwar Ibrahim on Sunday.

Tapping of wealth in Irian Jaya

Tapping of wealth in Irian Jaya In his letter Freeport's social commitment (Sept. 19), Mr. Edward J. Pressman, in response to my letter Face responsibility to change (Sept. 16), asks for the facts behind my statement that one of "the main causes of famine in Irian Jaya is the exploitation of its wealth by Freeport." The fact is, that Irian Jaya Governor Mr. Freddy Numberi, made the following statement in The Jakarta Post article (Sept. 8) about the causes of the famine.

Factions in agreement on independent poll commission

Factions in agreement on independent poll commission JAKARTA (JP): All five factions on the People's Consultative Assembly's Ad Hoc Committee I agreed on Wednesday the general election planned for next May should be held fairly and run by an independent election commission rather than by the government. Marwah Daud Ibrahim, the committee chairwoman, said her committee reached the agreement after discussions, lobbying and consultations over several sessions.

ABRI repositioning itself: Susilo

ABRI repositioning itself: Susilo BANDUNG (JP): The Armed Forces (ABRI), in developing a new paradigm for its position in society, will no longer be a tool of the government, according to ABRI Chief of Sociopolitical Affairs Lt. Gen. Susilo Bambang Yudhoyono.

Pregnant mothers, toddlers to get food program

Pregnant mothers, toddlers to get food program JAKARTA (JP): The government is fighting the looming threat of widespread malnutrition by launching a Rp 1.37 trillion (US$114 million) supplementary food program for pregnant women and children under five years old, Minister of Health Farid Anfasa Moeloek said on Wednesday. The minister said the one year program, starting next month, will cover at least 140 regencies throughout the country.

Street cafes get a spot in Kemayoran

Street cafes get a spot in Kemayoran JAKARTA (JP): The city administration will allow street cafes to set up shop temporarily on a Central Jakarta site earmarked for development of the world's tallest tower. Governor Sutiyoso said on Wednesday the decision was made because construction of Menara Jakarta in Kemayoran had been postponed indefinitely due to the monetary crisis. A large hole filled with water where excavations on the building's basement had begun is the only sign of construction.

Alleged drug dealer may faces jail term

Alleged drug dealer may faces jail term JAKARTA (JP): A prosecutor asked the Central Jakarta District Court on Tuesday to sentence a 39-year-old man to seven years in prison and fine him Rp 3 million for allegedly trying to sell six kilograms of dried marijuana. Prosecutor Agus Sutoto said the defendant, Rozali, and an accomplice, Fahri Hidayat, were arrested on Feb. 10 in the parking lot of Jakarta Hotel on Jl.

Stock Exchange

Stock Exchange Stock prices on the Jakarta Stock Exchange (in rupiah) on Sept.23, 1998: Shares Close Change Trading Volume -------------------------------------------------------- Ades Alfindo 325 0 0 AHAP Insurance 400 0 0 Alter Abadi 200 25 50,000 Alumindo Light Metal 200 0 30,000 Alumindo Perkasa 225 0 0 Aneka Kimia Raya 125 0 0 Aneka Tambang 1,150 25 6,717,500 Anwar Sierad 75 0 0 Apac Centertex Corp.