Indonesian Political, Business & Finance News

Archive: 29 September 1998

49 articles found

Economic woes force 12,000 W. Java students to drop out

Economic woes force 12,000 W. Java students to drop out JAKARTA (JP): Twelve thousand West Java elementary school students can no longer afford education, according to the head of the West Java education and culture office. "This must be quickly overcome or the figure will increase," said Hasymi Romly on Monday in a discussion on elementary education in Garut, West Java. Antara reported a large proportion of the students' parents had lost their jobs.

Soeharto's assets abroad 'must be seized'

Soeharto's assets abroad 'must be seized' JAKARTA (JP): A scholar and prominent critic of former president Soeharto, George Junus Aditjondro, urged the government on Monday to call on friendly foreign states to confiscate all assets in their countries linked to Soeharto.

Jakarta should not copy Malaysia's capital controls

Jakarta should not copy Malaysia's capital controls By Eddy Soeparno JAKARTA (JP): It is just amazing how an economist's views published in a magazine had a larger-than-life impact on a nation's economy and practically changed the course (and maybe fate?) of that nation in an increasingly global environment. It was Massachusetts Institute of Technology's Paul Krugman, who, in last month's edition of Fortune magazine, reminded us how Asia got to where it is today, that is Asia's fall from grace.

Man faces four years in prison for scam

Man faces four years in prison for scam JAKARTA (JP): A prosecutor urged the Central Jakarta District Court on Monday to sentence a 50-year-old man to four years in prison for allegedly defrauding hospital donors of a total of Rp 815 million (US$74,090). In his final presentation, prosecutor Teuku Syahrul said Agus Santosa, a former member of Perkumpulan Husada foundation which owned and ran Husada Hospital on Jl.

Habibie's son heading trade delegation to Taiwan

Habibie's son heading trade delegation to Taiwan TAIPEI (Dow Jones): Ilham Habibie, son of Indonesian President B.J. Habibie, is heading a delegation visiting Taiwan to discuss cooperation opportunities, especially in the aerospace industry, the Taipei trade office in Jakarta said Monday.

Government wants antimonopoly law in place by December

Government wants antimonopoly law in place by December JAKARTA (JP): The government is targeting to have an antimonopoly law on the books by the end of the year to foster healthier business competition in the country, an official said Monday. The secretary-general of the Ministry of Trade and Industry, Muchtar, said the government had submitted the draft of the antimonopoly bill to the House of Representatives (DPR), which would start its deliberations next month.

Ex-owner of Bank Surya, government reach deal

Ex-owner of Bank Surya, government reach deal JAKARTA (JP): The country's financial authorities have signed a deal with the former owner of closed down Bank Surya to return Bank Indonesia's liquidity support, chairman of the Indonesian Bank Restructuring Agency (IBRA) Glenn S. Yusuf said late on Monday.

Two reporters to be questioned

Two reporters to be questioned YOGYAKARTA: Police planned on Monday to summon two reporters from the local Bernas daily as witnesses in their questioning of Soekardjo Wilardjito -- a former aide of Sukarno who claimed that the founding president was intimidated into relinquishing power to Soeharto. Yogyakarta police chief Col. Bani Siswono also said that a number of other witnesses had been summoned and questioned. The two reporters were the first to report Soekardjo's claim.

Habibie approves Sultan's governorship

Habibie approves Sultan's governorship JAKARTA (JP): Yogyakarta's traditional monarch Sri Sultan Hamengkubuwono X has won the president's approval and will soon be installed as the new governor of the special province. Secretary-general of the Ministry of Home Affairs Feisal Tamin, confirmed on Monday that President B.J. Habibie has issued a decree on Sri Sultan's appointment as Yogyakarta governor, replacing Sri Paku Alam VIII who died earlier this month.

WB responsible for abused loans

WB responsible for abused loans By Jeffrey A. Winters LONDON (JP): The current debate over the World Bank, corruption, and Indonesia has come down to a single key question: is the Bank justified in washing its hands of responsibility for the corruption of almost US$10 billion in Bank loan funds and shifting all blame and costs to the Indonesians? On moral grounds the answer is obvious. It would be dishonorable and unjustified for the Bank to shirk its responsibility.

Broken CT scanner puts death rate up

Broken CT scanner puts death rate up MANADO, North Sulawesi: The number of victims of traffic accidents who died of head injuries here increased by 50 percent after the CT scanner in the town's Malalayang Hospital broke down, Antara said on Monday. The news agency quoted resident neurologist Dr. Eko Prasetyo as telling Minister of Health F.A. Moeloek during the latter's visit to the hospital on Sunday that the equipment had long stopped functioning.

Open skies policy limited to charter flights only

Open skies policy limited to charter flights only JAKARTA (JP): The government's recent decision to allow international airlines to fly from their home bases to all major destinations in Indonesia is being limited to chartered flights and will not apply to scheduled services. Minister of Communications Giri Suseno Hadihardjono said on Monday that foreign airlines must also obtain permits from the local authorities before flying passengers from their home base to destinations in Indonesia.

Heavy security for mayoral election

Heavy security for mayoral election TANGERANG (JP): Tight security surrounded the Tangerang Legislative Council on Monday following rumors of a major demonstration before the mayoral election scheduled for Tuesday. Dozens of armed soldiers and police officers were deployed to ensure there was no disruption. Reasons behind the rumored protest were unclear, although allegations of corruption have been leveled at outgoing mayor Djakaria Machmud. Tangerang district military chief Lt. Col.

Requesting U.S. visa

Requesting U.S. visa Is America closed for young tourists from Indonesia? That is what I am wondering. My niece applied for a tourist visa to visit the States. The trip was offered by a family member (who is working outside Indonesia and wishes to accompany her) for her successful completion of a four-year university course (Diploma has not been received). When will this kind of opportunity ever come again?

Mercure's inhouse training

Mercure's inhouse training JAKARTA (JP): Mercure Rekso Hotel Hayam Wuruk recently held a three-week training program to improve the skills of its 250 employees. Mercure's public relation manager Mirna A. Basalamah said that the inhouse training program was part of the hotel's efforts to improve the quality of its services.

Modest festival showcases quality pieces for art lovers

Modest festival showcases quality pieces for art lovers By Stevie Emilia and Yudha Kartohadiprodjo JAKARTA (JP): Dances and music performed by renowned artists at the Indonesian Art Summit II have been able to help some Jakartans forget the rat race of the economic crisis.

Rupiah closes firmer against U.S. dollar

Rupiah closes firmer against U.S. dollar JAKARTA (JP): The rupiah closed slightly firmer at 10,875 against the U.S. dollar on Monday, with positive sentiment from disbursement of International Monetary Fund loans tempered by fears of renewed unrest. Currency dealers said positive market response to the disbursement of US$941 million pledged by the IMF had helped the rupiah hold its ground.

Conversion Rates

Conversion Rates JAKARTA (JP): Bank Bali's bank notes conversion rates on Sept. 28, 1998: Buying Selling Rp Rp U.S.

Lawyer criticizes bankruptcy fee

Lawyer criticizes bankruptcy fee JAKARTA (JP): A corporate lawyer has criticized a justice ministry decision to impose a 3 percent commission fee for administrators and a 2 percent fee for curators in bankruptcy cases. Lawyer Hotman Paris Hutapea of Makarim and Taira S law firm said on Monday that a Sept. 22 Ministry of Justice decree on administrator and curator fees could harm the future operations of the commercial court.

Can't Indonesians enjoy own country?

Can't Indonesians enjoy own country? I had two weeks annual leave from my job and wanted to take my child away for one weekend. I had saved for this all year. I thought that this trip might also help the tourism trade in a small way. All of the advertisements in the paper were about great packages to encourage domestic travel. They favored Indonesians. This also gave me an opportunity to see a part of my country that I had never seen before.

Avoid dependency on foreign capital

Avoid dependency on foreign capital The year long economic crisis is getting worse, despite the reform measures prescribed by the International Monetary Fund (IMF). Economist Kwik Kian Gie looks at the elements behind the crisis. JAKARTA (JP): Indonesians need to thoroughly establish the real cause of the current economic crisis to find an effective solution.

Faulty bank owners 'banned from banking'

Faulty bank owners 'banned from banking' JAKARTA (JP): Former owners of suspended and nationalized banks will be barred from reentering the banking industry if it's proven they've committed banking crimes, according to a director of the central bank. Bank Indonesia director for banking supervision and development Soebardjo Djojosoemarto said on Monday that the financial authorities would issue rulings that impose stricter requirements, including a good "moral track record", for bank owners.

Rates for Tax Payment

Rates for Tax Payment JAKARTA (JP): The new official conversion rates as the basis for payment of import duty, value-added tax on goods and services, sales tax on luxury goods, export tax and income tax, valid from Sept. 28 to Oct. 4 : U.S.

Hopewell Holdings Limited

Hopewell Holdings Limited We refer to your article on Sept. 24, 1998 headlined PLN welcomes Hopewell decision on Tanjung Jati, in which it said "Hopewell holds an 80 percent stake in PT CEPA Indonesia, the owner of the project." We would like to point out that the Hopewell Holdings acquired 80 percent of PT CEPA Indonesia from its former subsidiary, CEPA, in August 1997 and renamed the company PT HI POWER TUBANAN 1 at the beginning of 1998.

Art Summit schedule of performances

Art Summit schedule of performances Performance Schedule: Sept. 29-30: Theater, Suku Naga (Dragon Tribe), Bengkel Teater Rendra (Indonesia), Taman Ismail Marzuki (TIM), Jl. Cikini Raya 73, Central Jakarta (Phone: 3154087). Oct. 1-2: Ballet, Also Egmont, Bitte. Frauenballett, Bremer Tanztheater (Germany), Gedung Kesenian Jakarta (GKJ), Jl. Pos No. 2, Central Jakarta (Phone: 3441892). Oct. 2-3: Music, Humoristique, Musicatreize (France), TIM. Oct. 3-4: Music, Theo Loevendie (Netherlands), GKJ.

South Korean manager nabbed

South Korean manager nabbed JAKARTA (JP): Immigration officers have arrested a South Korean man who worked as a restaurant manager in Bitung district, Tangerang, for violating his immigration permit. Tangerang immigration office head Dody Maywardi Wibowo said Pan Gon Lee, who was apprehended on Wednesday, stated his profession in his permit as a technical advisor of private company PT Mire Korsindo in Cikupa, also in Tangerang.

Donation from expatriate

Donation from expatriate I am writing this open letter as a German expatriate who has lived in Indonesia for 15 months. During this time I have already experienced the good and the bad times. Every morning I read in your newspaper about so many people who are suffering and cannot feed their families due to the high prices of staple foods. How can this happen in a country like Indonesia, which is supposed to be rich in natural resources?

Sutiyoso to make more visit to slum areas

Sutiyoso to make more visit to slum areas JAKARTA (JP): Disappointed by the excessive preparation of local officials, Governor Sutiyoso has decided to make impromptu visits to the city's slum areas in an attempt to see the reality of the conditions people are living in.

Bob Hasan told to return $2.04b in forestry fees

Bob Hasan told to return $2.04b in forestry fees JAKARTA (JP): A breakaway reform group of the Indonesian Forestry Society (MPI) is demanding that timber tycoon Mohamad "Bob" Hasan return US$2.04 billion he collected in forestry fees from 1991 to 1997. The chairman of MPI Reformasi's investigation team Agus Miftach said on Monday that Hasan -- a crony of former president Soeharto -- also collected commissions, promotion funds and trading monopolies on plywood products.

'Fun run' to help cancer research

'Fun run' to help cancer research JAKARTA (JP): The Regent Jakarta Hotel, in cooperation with the Indonesian Cancer Foundation and the Canadian Embassy, is scheduled to hold its fourth annual Terry Fox Run on Oct. 11 with the aim of raising funds for cancer research. Virginia Margaretha, a spokesperson for the event, said on Monday that the 'fun run' would start at the Regent hotel on Jl. Rasuna Said, South Jakarta, at 7 a.m. and finish at the hotel.

Schoolchildren get cash to buy food

Schoolchildren get cash to buy food JAKARTA (JP): The city administration will provide funds for the purchase of nutritious foods to 38,000 Jakarta elementary school students living below the poverty line. Deputy Governor for Social Welfare Djailani said on Monday that the fund, due to start next month, was part of the authorities' campaign for poverty eradication.

Ghafar's statment 'unethical'

Ghafar's statment 'unethical' JAKARTA (JP): Legislators and Moslem leaders have returned in kind the tirade from Malaysian politician Tun Ghafar Baba, admonishing him for going too far in roasting the Indonesian media for their coverage of Anwar Ibrahim. The Indonesian Committee for World Moslem Solidarity (KISDI) said on Monday that Ghafar's remarks showed his "contempt for the Indonesian government, people and media". KISDI urged the Malaysian embassy to send Ghafar home.

Survey reveals ABRI's poor public image

Survey reveals ABRI's poor public image JAKARTA (JP): After a recent storm of public condemnation over past alleged human rights violations, the Armed Forces (ABRI) took another blow on Monday when an independent survey found its public image wanting. The poll, titled ABRI and the People, was conducted by the Center for the Study of Development and Democracy (CESDA), a body linked to the respected Institute for Social and Economic Research, Education and Information (LP3ES).

The government's PDI dilemma

The government's PDI dilemma There are signs that the government is deliberately making it difficult for the Indonesian Democratic Party (PDI) under the leadership of Megawati Soekarnoputri to obtain a permit to hold a congress. The government's excuse is that Megawati persists on using the name PDI -- a name which the government insists belongs to the PDI faction led by Budi Hardjono.

State firms should lead economic recovery: Minister

State firms should lead economic recovery: Minister YOGYAKARTA (JP): The 164 state firms should become the powerhouse to propel the country through its worst economic crisis in decades, a minister said on Monday. State Minister of the Empowerment of State Enterprises Tanri Abeng said hopes of economic recovery now hinged on the state firms following the collapse of major conglomerates.

Govt may raise direct international call rates

Govt may raise direct international call rates JAKARTA (JP): The government is considering increasing the rates for international telephone calls in order to keep the state-owned telecommunications company, PT Indosat, healthy, a government official has said.

Military police involvement in robbery denied

Military police involvement in robbery denied JAKARTA (JP): Jakarta Military Police Commander Col. Hendardji has denied his personnel played any role in a robbery at an amusement center in Pluit, North Jakarta, late on Saturday. However, he has instructed his men to cooperate with the Jakarta Police in the hunt for the robbers, some of whom wore the command's uniform during the burglary. "We (the military police and the police) have been trying to trace license plate numbers on the robbers cars.

PDI to help police safeguard Greater Jakarta

PDI to help police safeguard Greater Jakarta JAKARTA (JP): The Jakarta chapter of the Indonesian Democratic Party (PDI) on Monday expressed its readiness to cooperate with the city police in efforts to safeguard the Greater Jakarta area, the chapter's chairman Roy B.B. Janis said. Roy, speaking after a meeting with Jakarta Police chief Maj. Gen.

Sutiyoso opens Kalibesar Fair

Sutiyoso opens Kalibesar Fair JAKARTA (JP): Governor Sutiyoso has launched the Kalibesar Fair in downtown Kota, West Jakarta, marking the beginning of the revitalization of old buildings in an area popularly known as the old city. The fair, highlighted by sidewalk cafes, is designed to become part of nightlife tourism in the area.

Habibie's son heading trade delgation to Taiwan: Official

Habibie's son heading trade delgation to Taiwan: Official JAKARTA (JP): Former U.S. secretary of state Warren Christopher met President B.J. Habibie on Monday to discuss the US$2.43 billion Paiton power project. "We had an excellent meeting with the President and discussed the electrical power situation in Indonesia," Christopher told reporters after the meeting. He, however, declined to give details of his visit and did not take any questions from the media.

PGN to open country's longest gaspipline later this week

PGN to open country's longest gaspipline later this week JAKARTA (JP): The state gas distribution company Perusahaan Gas Negara (PGN) will start operating the country's longest gas pipeline in central Sumatra on Thursday.

No govt recognition of faction needed: Megawati

No govt recognition of faction needed: Megawati JAKARTA (JP): Megawati Soekarnoputri said on Monday that her faction of the Indonesian Democratic Party (PDI) no longer required the government's legal recognition and that she would continue with a planned party congress in Bali. While opening a seminar focusing on PDI concepts in legal, political, educational and economical development, Megawati said she had had enough of the government's inconsistencies in handling the PDI leadership rift.

TV Program: Tuesday, Sept. 29, 1998

TV Program: Tuesday, Sept. 29, 1998 TVRI 2:00 p.m. News: Berita 14 2:35 Children's Film: The Big Valley 3:05 Children's Program: Pentas Anak 3:30 Village Program 4:00 Regional News 4:30 Music: Lagu Pop Daerah 5:00 English Lessons 5:30 Documentary: Peninggalan Sriwijaya 6:00 News: Lintasan Berita 6:05 Documentary: Catatan Perjalanan 6:15 Sports: Monitor Olah Raga 6:30 TVRI News (in English) 7:00 Evening News 7:35 TV Drama: Bersimpang Jalan 8:00 News: Lintasan Berita 8:05 TV Drama: Bersimpang...

Stock Exchange

Stock Exchange Stock prices on the Jakarta Stock Exchange (in rupiah) on Sept. 28, 1998: --------------------------------------------------------- Shares Close Change Trading Volume --------------------------------------------------------- Ades Alfindo 325 0 0 AHAP Insurance 400 0 0 Alter Abadi 175 -25 7,303,500 Alumindo Light Metal 200 -25 202,500 Alumindo Perkasa 225 0 0 Aneka Kimia Raya 150 25 123,500 Aneka Tambang 1,250 25 4,306,500 Anwar Sierad 100 25 79,000 Apac Centertex Corp.

Redesigning Indonesia's corporate jungle

Redesigning Indonesia's corporate jungle By Michael Sinjorgo This is the second of two articles on coping with the challenges facing Indonesian companies during the economic crisis. JAKARTA (JP): Until last year everybody was so busy making money nobody took time to look after their company's system design, the big design, the ultimate customer. We got lost in the woods.

Forkot denies communist links, says no demo planned

Forkot denies communist links, says no demo planned JAKARTA (JP): Forum Kota (Forkot), a loose association of students from 39 colleges in Jakarta, has denied accusations that it is communist-inspired and that it has planned to stage massive street demonstrations nationwide on Sept. 30. In a statement on Monday, Forkot also said that accusations that it was an anti-Islam group were baseless since many of its members were students of Islamic universities.

Rendra to stage 'Dragon Tribe'

Rendra to stage 'Dragon Tribe' JAKARTA (JP): A foreign company has just set up a joint venture in a country called Astinam to work on a mining project located near the Seloka Valley, home to the indigenous Suku Naga, (the Dragon Tribe). The Astinam government is very enthusiastic about the project because it can generate a lot of cash for the country, not to mention for the officials themselves. To make way for the project, the government plans to evict a village's residents.

Where to go in Bandung for Tuesday, Sept. 29, 1998

Where to go in Bandung for Tuesday, Sept. 29, 1998 Exhibitions * Children's Drawings: International Price Winning Pictures from Bavaria (1997), at the Goethe-Institut Bandung, Jl. Martadinata 48 (Phone: 022 436440), 9 a.m. to 5 p.m., until Oct. 19. * Fine Arts Exhibition: Perangkap Hedonisme, by Veri Apriyatno, at Barak Gallery, Jl. DR. Setiabudhi 238 Trapus, 10 a.m. to 9 p.m., until Oct. 10. * Ethnic Art Work and Interior Exhibition at Preanger Aerowisata Bandung Hotel, Jl. Asia Afrika No.

Hope of U.S. rate cut buoys SE Asian currencies

Hope of U.S. rate cut buoys SE Asian currencies SINGAPORE (Dow Jones): Heightened expectations of a cut in U.S. interest rates, coupled with the ongoing liquidation of long U.S. dollar positions by hedge funds, buoyed Southeast Asian currencies through Asian trading hours on Monday. The Singapore dollar and the Thai baht both strengthened against the U.S. currency, while in North Asian markets the South Korean won also rose.