Indonesian Political, Business & Finance News

Archive: 28 September 1998

47 articles found

Shares are likely to drop again after slight rebound

Shares are likely to drop again after slight rebound JAKARTA (JP): After a slight rebound late last week, share prices on the Jakarta Stock Exchange (JSX) are likely to fall again this week despite the International Monetary Fund's decision to inject more funds into the country.

TV today

TV today TVRI 2:00 p.m. News: Berita 14 2:35 TV Series: The Big Valley 3:05 Documentary: Sebaiknya Anda Tahu 3:30 TV Drama: Permainan 4:00 Regional News 4:30 Creative Program: Karya Kita 5:00 Indonesian Lessons 5:30 Education Quiz: Tangkas Cermat 6:00 News: Lintasan Berita 6:05 Business News: Kiat Usaha 6:15 Sports: Monitor Olah Raga 6:30 TVRI News (in English) 7:00 Evening News 7:35 Music 8:00 News: Lintasan Berita 8:05 Music 8:30 Belief in God The Almighty 9:00 World News 9:35 Sport News...

Ne Win in S'pore for treatment

Ne Win in S'pore for treatment YANGON (DPA): Former Myanmar military strongman Ne Win flew to Singapore on Sunday morning to receive medical treatment for a blood clot in his brain, official sources said. Ne Win, 88, departed Yangon airport at about 8:30 a.m. local time on a Myanmar Airways International (MIA) flight bound for Singapore, said the official, who asked to remain unidentified. He was accompanied by his daughter Sadar Win, his son-in-law Aye Zaw Win and 13 other people.

Economic zones 'must not displace locals'

Economic zones 'must not displace locals' MANADO, North Sulawesi (JP): President B.J. Habibie during his visit to Manado, North Sulawesi, on Saturday called on officials in charge of integrated economic development zones to prevent the projects from displacing the local people. "Efforts to develop these economic zones will be in vain if the people cannot enjoy the results," Habibie was quoted by Antara during the inauguration of six economic zones in various parts of the country.

Skeptics unmoved by commercial court

Skeptics unmoved by commercial court By Riyadi and Aloysius Unditu JAKARTA (JP): Long before its first hearing opened in Jakarta in August, the commercial court had been roundly trumpeted as the solution to snip through red tape and bring quick closure to bankruptcy cases. Yet, despite being in opposing legal camps, both creditors and debtors are united in complaining about its cost.

Natuna partners to invest $1b

Natuna partners to invest $1b SINGAPORE (Bloomberg): Contractors working in the Indonesia gas fields in West Natuna plan to invest about US$1 billion in the next three years to build facilities for the delivery of natural gas to Singapore, the Business Times reported Saturday, citing an Indonesian embassy bulletin. The money will be used to develop gas facilities in the area, for drilling, and the construction of a 640-kilometer gas pipeline from the fields to Singapore.

U.S. apathy over crisis may lead to chaos: Goh

U.S. apathy over crisis may lead to chaos: Goh NEW YORK (AP): The United States must lead the battle against the spreading Asian economic crisis or risk watching the world plunge into uncontrollable chaos, Singapore's prime minister said. "A prolonged economic downturn in Asia will revive latent tensions against the West and may unravel the security architecture that the U.S.

Nigerian national jailed for fake U.S. dollar sale

Nigerian national jailed for fake U.S. dollar sale JAKARTA (JP): A 28-year-old Nigerian was sentenced to two years in prison on Friday for possessing and selling fake U.S. dollars with a face value of US$300. Presiding judge Zulkifli Lubis told the Central Jakarta District Court that defendant E. Chukwu had been found guilty of violating Article 245 of the Criminal Code. The article carries a maximum sentence of 15 years in prison.

City environmental health still poor, expert says

City environmental health still poor, expert says JAKARTA (JP): An expert on environmental health expressed concern on Saturday over the poor development of environmental health in the capital, due to the reluctance on the part of most Jakartans to adjust their old norms to the present conditions. Umar Fahmi Achmadi said that Jakartans could be identified as villagers living in a city, where their village norms were not acceptable.

Beepwear: A multiporpose watch

Beepwear: A multiporpose watch By Zatni Arbi JAKARTA (JP): Think of wristwatches that are made in the U.S., and Timex comes to mind. While watches from this watchmaker may be perpetually on sale in stores like Woolworths and Longs & Drugs in the U.S., you'll also be able to find its line of "high end" and "high tech" ones. Do you remember DataLink, the watch plus organizer that can synchronize its data -- phone numbers and appointments -- with the one stored on your PC?

Gang of 10 men robs North Jakarta amusement center

Gang of 10 men robs North Jakarta amusement center JAKARTA (JP): A gang of at least 10 men, some dressed in military uniform, broke into an amusement center in Pluit, North Jakarta, late Saturday and made off with Rp 6 million in cash. The gang arrived in two Kijang vans at the Mickey Mouse amusement center, which is located in the Lucky Plaza compound, at about 10 p.m.

Justice Party launches Jakarta chapter in huge rally

Justice Party launches Jakarta chapter in huge rally JAKARTA (JP): About 15,000 Moslem youths packed the Senayan Sports Hall on Sunday for the launching of the Jakarta chapter of the Justice Party, declaring readiness to contest the planned general election in May next year. The event also marked the simultaneous launching of four other provincial chapters in Bengkulu, South, East and West Kalimantan, bringing the number of party chapters to 14.

Reserve funds drop to Rp 67.5 trillion

Reserve funds drop to Rp 67.5 trillion JAKARTA (JP): The amount of reserve money during the third week of this month declined by Rp 907 billion (US$82 million) to Rp 67.5 trillion on Sept. 23 compared to the level in the previous week, Bank Indonesia said late Friday. According to the central bank, the two-week consecutive decline resulted from a lower amount of currency in circulation.

Compensation demanded

Compensation demanded SORONG, Irian Jaya: Residents of Gag island in the South Waiegeo district in Sorong regency are demanding compensation from a United States-based nickel mining company. Zeth Ayal, the regency head of the information office, said the BHP Island Nickel Project charged the firm had yet to pay compensation for land affected by the project which belonged to islanders under customary law. Ayal said a regency team had visited the village to look into the matter.

Redesigning Indonesia's corporate jungle

Redesigning Indonesia's corporate jungle By Michael Sinjorgo This is the first of two articles on the challenges Indonesian companies face during the economic crisis. JAKARTA (JP): The business community's most common reaction to the economic crisis has been to try to make things the way they used to be by cutting back on expenses and making some cosmetic changes, hoping that the whole thing will magically blow over.

Man's body arrives from Malaysia

Man's body arrives from Malaysia MATARAM, West Nusa Tenggara: A box bearing a man's body arrived on Friday from Malaysia at Selaparang airport here, Antara reported Sunday. Maj. M. Basri of the provincial police department confirmed on Saturday that the box was unloaded from a Garuda Indonesia Airways flight from Malaysia. "He apparently died from an illness but we have yet to investigate the case further. Relatives of the dead man have buried him in Jerowaru village in Keruak subdistrict.

Students offered jobs in Japan

Students offered jobs in Japan PADANG, West Sumatra: Several Japanese companies have offered one-year job positions to students of the Japanese-language program at Bung Hatta University here. The head of the Japanese language department, Amir Benson, said the offer prioritized students from needy families. Antara quoted him on Sunday as saying that Japan had requested 150 students to work in various companies in 1999.

Passerby dies in altercation

Passerby dies in altercation JAKARTA (JP): A cleaning service worker from the Ministry of Defense and Security was killed by a shot from an air rifle when he got caught in a clash involving residents of Manggarai, South Jakarta, early on Sunday morning. Sutrisno, 40, was on his way home at about 1 a.m. when he was trapped between rival groups of residents stoning each other, his wife Nuraini said.

Much rests on decision on future of CPP oil block

Much rests on decision on future of CPP oil block By Johannes Simbolon JAKARTA (JP): Intense anticipation surrounds the government's scheduled decision this week on the future of PT Caltex Pacific Indonesia's production sharing contract for the Coastal Plains Pakanbaru (CPP) oil block in Riau.

Malaysian politician berates RI press

Malaysian politician berates RI press JAKARTA (AFP): A senior Malaysian politician slammed the Indonesian press on Sunday for championing jailed former deputy premier Anwar Ibrahim, and said Indonesia could take him "as homosexuality is allowed here." "If you think Anwar Ibrahim is so important, you can take him and make him your leader," said Ghafar Baba, who was replaced by Anwar as Malaysia's deputy premier in 1993, and is now retired.

World Bank aid should not leak

World Bank aid should not leak By Sri Pamoedjo Rahardjo JAKARTA (JP): Recent allegations from the World Bank report suggest that Indonesian officials have siphoned 20 percent of the country's loan for their personal gain. Some experts even estimate a higher figure. The accusation is a very serious one. Is siphoning funds out of a multilateral agency such as the World Bank possible?

Megawati to go on with Bali congress

Megawati to go on with Bali congress JAKARTA (JP): Megawati Soekarnoputri is sticking to her plan to hold a congress in Bali of her camp of the splintered Indonesian Democratic Party (PDI), despite lacking a permit and government concerns it could disrupt the island's lucrative tourist industry.

Malaysian parties, groups launch drive to demand reforms

Malaysian parties, groups launch drive to demand reforms KUALA LUMPUR (Agencies): Malaysian opposition parties and social groups launched on Sunday a campaign for reforms in a challenge to Prime Minister Mahathir Mohamad's rule. "We demand for change. We demand for reform and social justice," Tian Chua, chairman of the newly formed Coalition for People's Democracy, told AFP.

QUALCOMM offers future wireless telecommunications today

QUALCOMM offers future wireless telecommunications today JAKARTA (JP): United States-based QUALCOMM Incorporated knew what the world needed when it ventured into the telecommunications business in 1985: an efficient, effective and cost-friendly technology that could yield crisp, clear communications. This is what gives the company, at a relatively young age, the reputation it deserves as the pioneer of one of the latest wireless telecommunications technologies.

Exhibition of old radios reveals history

Exhibition of old radios reveals history By Ahmad Solikhan YOGYAKARTA (JP): The declaration of independence read by President Sukarno is heard faintly in a room of the Bentara Budaya building in Yogyakarta, where an exhibition of old radios is currently being held. Sukarno's voice takes the audience back into the past for a journey to that historical moment 53 years ago. The exhibition has been organized in celebration of National Radio Day, which falls on Sept. 11.

Activists want old wounds healed to make nation one

Activists want old wounds healed to make nation one JAKARTA (JP): Human rights campaigners agreed on Saturday that national reconciliation, at the forefront of President B.J. Habibie's agenda, will only be feasible once wounds from past traumas are healed. The talks were marred by Central Jakarta police attempt to stop the event on the grounds that it had no permit. After an hour's negotiation the talks continued.

Soeharto's game

Soeharto's game As a part of his modesty campaign, former president Soeharto invited himself to the Attorney General's Office on Friday. During the meeting with Attorney General Andi Muhammad Ghalib, Soeharto handed a letter authorizing government investigators to probe into any bank account under his name overseas.

Dissident George returns home

Dissident George returns home JAKARTA (JP): Sociologist George Junus Aditjondro returned home on Sunday for the first time since moving to Australia in 1995 after he fell foul of the Soeharto regime. Jubilant activists hoisted him up on their shoulders after he left the arrival gate at the Soekarno-Hatta International Airport. George, 52, had told The Jakarta Post on Saturday that he was invited by the Indonesian Legal Aid Foundation (YLBHI) to speak at a conference.

Where to go in Jakarta:

Where to go in Jakarta: Exhibitions * Painting Exhibition: Ekspresi 6, at Crowne Plaza Hotel, Jl. Gatot Subroto Kav. 2-3, South Jakarta ((Phone: 5268833), 10 a.m. to 9 p.m., until Oct. 1. * Painting Exhibition: Ungkapan Dunia-Dalam, by Nasirun and Pupuk DP., at Galeri Santi, Jl. Benda No. 4, Cilandak Timur, Kemang, South Jakarta, (Phone: 7806079), 9 a.m. to 6 p.m., until Oct. 15. * Photo Exhibition: Teater Tari Masa Kini - 30 Tahun Sejarah Tari Jerman, at Gedung Kesenian Jakarta, Jl. Pos No.

Young girls told to beware of syndicate

Young girls told to beware of syndicate JAKARTA (JP): Speakers at a discussion on syndicates trading in young girls urged school-aged girls in the city to beware of the upward trend in the operation of organized groups targeting young girls. The discussion, held on Saturday, which was attended by 650 students of junior and senior high schools in East Jakarta, was held by the Association of Indonesian Women for Justice as part of its campaign to establish a nonviolent society.

KKN practices

KKN practices I worked at the Monetary and Financial Research and Development Center of the Finance Ministry in 1990. The finance minister at the time was J.B. Sumarlin. I knew of the following: Bambang Trihatmodjo, son of former president Soeharto, through PT Bimantara applied to the finance minister to buy (take over) shares from PT Intirub, a state-owned company in vehicle tire production with factories in Palembang.

World Bank loans

World Bank loans It seems a pity that Donna Woodward in her turn appears to have missed the main point which I at least perceived from Jeffrey Winters' article. This was that if the World Bank officials were aware that any portion of their funds were being used for purposes which would not benefit the people of Indonesia, then it should not be the responsibility of Indonesians to repay the sums misused.

IMF measures overly harsh

IMF measures overly harsh SEOUL (Reuters): South Korean President Kim Dae-jung has told an Australian newspaper that International Monetary Fund policies imposed to rescue his country from a financial crisis were too harsh and needed adjustment. The paper, the Australian, quoted Kim in an interview published on Saturday as saying the IMF had provided South Korea with great help, but he also described some of its policies as being inadequate.

Asset-for-loan deal new burden for govt

Asset-for-loan deal new burden for govt By Reiner S. JAKARTA (JP): The asset-for-loan payment scheme offered by ex- owners of suspended and nationalized banks to the government last week, is an early indication of the authorities failure to quickly and efficiently recoup the massive loans channeled into the troubled banks.

Stop all the talk and get on with it

Stop all the talk and get on with it From Bisnis Indonesia We have been talking a lot of corruption without doing anything about it. What should President Habibie do? 1. He should set the example of voluntarily issuing a public statement that his wealth can be audited. He should then publish the findings on his bank accounts and a list of his companies. 2. His example should be followed by the current and former Cabinet ministers, generals, state officials down to director level (for starters).

Big timber companies welcome forest concession limit

Big timber companies welcome forest concession limit By Sylvia Gratia MN JAKARTA (JP): Owners of timber companies have welcomed the government's move to limit ownership of the country's forest assets on the grounds that it would benefit a lot of people. Adi Warsita Adinegoro, the chairman of the Association of Indonesian Forest Concessionaires (APHI), said the move would give common people a chance to benefit from the country's forests.

ASEAN, Japan propose reform initiative

ASEAN, Japan propose reform initiative NEW YORK (Dow Jones): Foreign ministers of the Association of Southeast Asian Nations (ASEAN) proposed Friday that ASEAN and Japan jointly formulate a program to improve the international financial system, Japanese officials told the Kyodo news service. The ministers from the ASEAN nations excluding Indonesia and Brunei made the proposal during a breakfast meeting with Japanese Foreign Minister Masahiko Komura in New York, the officials said.

More child abuse feared during crisis: Foundation

More child abuse feared during crisis: Foundation JAKARTA (JP): A foundation for children's welfare, Yayasan Kesejahteraan Anak Indonesia (YKAI), has raised fears of increasing child abuse, pointing particularly to various cases of sexual exploitation of children. "The crisis has led to an increase of sexual exploitation of children," stated the foundation's report, which was made available to The Jakarta Post.

Former president's wealth

Former president's wealth First of all, many thanks to The Jakarta Post for printing my last letter -- even without editing, and for sending it by Fax to me as well. If next time the time difference is taken into account, I can perhaps finish my good nights' sleep. Many former colleagues also contacted me again and were happy that an orang putih (white man) that has left the country still cares for it.

Police foil motorcycle smuggling attemp

Police foil motorcycle smuggling attemp JAKARTA (JP): Acting on a tip-off from local residents, the North Jakarta police foiled the attempted smuggling of 56 stolen motorcycles at a rented house in Kelapa Gading, North Jakarta, on Sunday. Three men, including a retired military corporal, were detained in the raid at Jl. Raya Kelapa Sawit. "The motorcycles were already stored in a container truck ready to be shipped to Singapore," a police officer who asked for anonymity said.

Rate ceiling for Sept. 28-Oct. 4

Rate ceiling for Sept. 28-Oct. 4 Time deposit Maximum rate Maximum rate rupiah deposit (%) U.S. dollar deposit (%) --------------------------------------------------------- 1-month 67 15 3-month 61 15 6-month 50 15 12-month 48 15 24-month 29 18 Maximum overnight rate for rupiah : 56 percent Maximum overnight rate for U.S. dollars: 14 percent * Maximum interest rates which are covered by government guarantee. Source: Bank Indonesia

Expert warns food crisis may result in lower IQs

Expert warns food crisis may result in lower IQs BOGOR, West Java (JP): An expert has expressed concern that the food crisis and malnutrition affecting an untold number of babies in various Indonesian areas will lead to the birth of stupid generations in the future.

Corruption in government

Corruption in government As a citizen, (former president) Soeharto obviously has the right to tell his side of the story regarding allegations of corruption and to present his facts to the public. On the other hand, the government, which has been mandated by the people to act, has the authority to examine whether the allegations regarding Soeharto's wealth are correct.

Will House try to improve its image?

Will House try to improve its image? JAKARTA (JP): Since Soeharto resigned from the presidency on May 21, many have jumped on the bandwagon of political opening, contributing opinions or actions to make a change for the better. Can legislators of the House of Representatives, bearing the decades-old image of being the government's rubber stamp, make a difference too? Skepticism looms but there is a glimmer of hope.

Peace settlement for a price

Peace settlement for a price It was well after 10 p.m., on Aug. 30. As I approached the nearly deserted Senayan traffic circle from the Ratu Plaza area, two buses overtook me from the slow lane on my left. To let them through, I moved over to the right side of the street. But just as I was to enter Jl. Sisingamangaraja, a police sergeant major signaled me to pull over. "You're trespassing on the road line," he said, and asked to see my driver's license.

Rising prices may lead to rampant crime: SBSI

Rising prices may lead to rampant crime: SBSI JAKARTA (JP): Activists warned the government on Saturday that the worsening labor situation would spark a nationwide breakdown in law and order unless effective measures are taken to defuse the economic and political crisis.

Maluku keeps rice stocks

Maluku keeps rice stocks AMBON, Maluku: The head of the Maluku social welfare office has said at least 72.6 metric tons of rice have been prepared to anticipate food shortages. Saut Hutadjulu said 50 tons were stored at the office, pending requests for distribution from regions, while the remainder had been distributed to the five regency offices. The largest amount, 10 tons, was sent to the Southeast Maluku where the office has listed 17,976 needy families totaling 88,768 people.