Indonesian Political, Business & Finance News

Archive: 11 January 1999

50 articles found

Subdued trading in local stock market expected

Subdued trading in local stock market expected JAKARTA (JP): Stock trading is likely to be subdued again this week, despite signs of recovery emerging before the markets closed last week. Securities analysts said that signs of bullish trading were seen before the close of trade last week, with a number of big buyers entering to market to test the trading atmosphere.

McDonald's closes 30 outlets

McDonald's closes 30 outlets JAKARTA (JP): McDonald's Indonesia closed 30 of its 101 outlets nationwide in 1998 due to the economic crisis and widespread rioting. Company president Bambang H. Rachmadi said over the weekend the crisis had resulted in the declining purchasing power of local consumers, and the rupiah's sharp depreciation had tripled prices of its imported raw materials. Six of its outlets were destroyed in massive riots which hit the country in May.

Tribal war halted by delivery of trucks for road construction

Tribal war halted by delivery of trucks for road construction PUNCAK JAYA, Irian Jaya (JP): Residents of an isolated district here on Friday halted all activities, including an ongoing tribal war, to marvel at motorcycles, trucks and heavy equipment being transported by helicopters to their area.

Obituary

Obituary Senior journalist Ani Idrus died of old age on Saturday at Gleneagles Hospital in the North Sumatra capital of Medan, two weeks after she had lapsed into a coma. She was 80. Born in the West Sumatra regency of Sawah Lunto on Nov. 25, 1919, Ani passed away at about 9.30 p.m. She was buried on Sunday in a Muslim cemetery on Jl. Thamrin in Medan. Hundreds of fellow journalists and close friends including the North Sumatra Governor T.

More vendors netted at airport

More vendors netted at airport TANGERANG (JP): Authorities at Soekarno-Hatta International Airport here netted 533 illegal vendors, 241 illegal perfume sellers and 12 illegal currency traders at the airport between August and November last year, an official said. The chief administrator of the airport, Moelyono DS, told Antara on Saturday that his personnel had also ticketed 118 motorists who had parked illegally during the four-month period.

Another case of vandalism hits Tangerang village

Another case of vandalism hits Tangerang village TANGERANG (JP): Another case of vandalism against the property of a village head occurred on Saturday night, two days after a similar attack in a different village. Hundreds of Jeungjing villagers in the Cisoka district of Tangerang ran amok and pelted stones at the house of the village head, Tatang Supriatna. The incident began at around 11:30 p.m. and lasted into the early hours of Sunday.

Drivers along Kali Mati continue dispute

Drivers along Kali Mati continue dispute JAKARTA (JP): Drivers of the M-39 minivans plying the Kota- Pademangan-Senen route went on strike on Sunday, asking the authorities to ban becaks (pedicabs) from the route to prevent further clashes, an official said. Karta, an official at the Senen bus terminal in Central Jakarta, said on Sunday that the strike forced many passengers to take alternative forms of public transportation.

RI needs new political system

RI needs new political system By Robert Walker AMLAPURA, Bali (JP): Many reasons have been put forward over the last few months to explain why Indonesia has got itself into its present mess. For some, it is the dual function of the Armed Forces which is to blame; for others it is the endemic corruption; or it is a left-over feudalism, or it is too much centralization of the bureaucracy, or it is a combination of any of these.

Central banks, hedge funds to stem rising Asian currencies

Central banks, hedge funds to stem rising Asian currencies SINGAPORE (AFP): Asia's rising currencies are expected to consolidate the coming week with central banks seeking to cap their upside and hedge funds betting the regional units will fall, dealers and analysts say. Most of the regional currencies, except notably for the Singapore dollar, had appreciated on the back of a robust yen last week, when at least two central banks were reportedly in the market selling their own currencies.

FESPIC games open in grand Thai style

FESPIC games open in grand Thai style BANGKOK (Agencies): Thousands of dancers, actors and singers performed in lavish ceremonies Sunday to open a week-long competition for 2,423 disabled athletes from 34 countries. Crown Prince Vajiralongkorn presided over the opening of the 7th Far East and South Pacific Games for the Disabled, or FESPIC Games. The event comes three weeks after Thailand hosted the Asian Games and organizers hope the FESPIC Games will be equally successful.

TV today

TV today TVRI 5:30 a.m. Religious Teachings: Hikmah Pagi 6:00 Morning News 6:30 News: Nuansa Reformasi 7:00 Children's Program: Lagu Anak Nusantara 7:30 TV Series 8:00 Music 8:30 Talk Show: Kesejahteraan Keluarga 9:00 Music 9:30 Interval 2:00 p.m.

Motorbike thief beaten to death

Motorbike thief beaten to death TANGERANG (JP): A man was beaten to death by angry residents after allegedly being caught attempting to steal a motorcycle from an ojek (motorcycle taxi) driver in Nagrak village, Jatiuwung district, on Friday morning. A police officer who asked not to be named said that the victim, Uding, 32, was attacked by residents when they heard a scream for help from the ojek driver named Sudrajat.

D-Lanz to enter Indonesia

D-Lanz to enter Indonesia GLEN ROCK, N.J. (Dow Jones): D-Lanz Development Group, Inc. (DLNZ) was given permission by Scantek Medical Inc. (SKML) to negotiate with Indonesian and Malaysian distributors to supply Scantek's BreastCare device in those countries. Skantec holds the worldwide rights to the device, which detects abnormalities in the breast, including breast cancer. A D-Lanz spokesman said the company will receive unspecified monetary fees from the distributors.

Bill on politics

Bill on politics From Media Indonesia As a fraction of the Indonesian society, however small, the Indonesian Women Scholars Association (ISWI) feels obliged to extend some comments concerning the bill on politics. First, ISWI is of the opinion that civil servants (PNS) should not become members/executives of political parties.

Business slows for Jakarta's car dealers

Business slows for Jakarta's car dealers JAKARTA (JP): Car dealers have been puzzled by the sharply rising number of people intending to sell their cars, especially the luxurious ones, but at the same time are faced with scarcity of buyers. Contacted separately on Saturday, dealers along Jl. Pecenongan and Jl. Samanhudi in Central Jakarta, Mangga Dua in West Jakarta and Pondok Indah in South Jakarta said they were suffering from financial losses. Edi Wijaya, the owner of Duta Motor on Jl.

Possibility of abuse of new bank ruling

Possibility of abuse of new bank ruling JAKARTA (JP): Experts warned Bank Indonesia (BI) of the possible manipulation of the newly loosened legal lending limit by cash-strapped business groups seeking to obtain money to recapitalize their banking operations. Senior banker I Nyoman Moena said the central bank's plan to ease the legal lending limit from 20 percent to 30 percent could be abused by bank owners facing cash flow problems.

More bodies of landslide victims recovered

More bodies of landslide victims recovered JAKARTA (JP): Four more bodies were shoveled out of the mud from two separate landslide incidents in Gianyar, Bali and Garut, West Java, officials reported on Sunday. Rescue workers in Gianyar continued searching for the victims and found three more bodies on Sunday in Timbul hamlet in Pupuan village. The site was now closed for the public and rescue work would resume Monday morning. Gianyar police precinct chief Lt. Col.

Rubber exports bounce past La Nina

Rubber exports bounce past La Nina By Sylvia Gratia M.N. JAKARTA (JP): Indonesia's rubber exports will increase by at least five percent to 1.61 million metric tons this year from 1.53 million tons in 1998, according to Indonesian Rubber Association (Gapkindo) estimates. But the association anticipates earning less foreign exchange from the exports, with prices forecast to drop in the coming months.

Soldiers, police caught gambling

Soldiers, police caught gambling YOGYAKARTA: A commander of a military precinct and three other soldiers were caught gambling along with an administrative official, a police officer and three residents, Antara reported Saturday. One escaped and the others were arrested in a raid led by the Bantul military commander, Lt. Col. Art. M. Budiarto, who added that he hoped the other man would immediately give himself up. "He's an official and it's easy to get his identity," Budiarto said.

More spending on 'people's economy'

More spending on 'people's economy' From Neraca On Jan. 5 President Habibie unveiled the 1999/2000 draft state budget. Irrespective of the controversy over the deficit and large financial sources as cited in the draft budget, it is wise to take into account the worries expressed by our economists about what the government's small spending budget should be spent on.

Mahathir plans tour to fix possible election date

Mahathir plans tour to fix possible election date KUALA LUMPUR (AFP): Malaysian Premier Mahathir Mohamad is to embark on a nationwide tour after revamping his cabinet in a bid to gauge public sentiment and fix a possible election date, party insiders and analysts said on Sunday. "One of the main agenda items on the tour will be to gauge public response for a possible election date," a senior official from the ruling United Malays National Organization (UMNO) told AFP.

Police secretary killed in house fire

Police secretary killed in house fire MEDAN, North Sumatra: The secretary to the North Sumatra police chief and her mother were killed Saturday in their home in a fire apparently caused by an exploding gas stove. Second Sgt. Rida Azwarni Pane, 24, and her mother, Masliani Boru Lubis, were killed in the blaze and two of their relatives are being treated in hospital following the accident in Kampung Baru, Jl. Brigjen Katamso, at about 4 a.m.. Spokesman Lt.Col.

Sand mining firms told to renew licenses

Sand mining firms told to renew licenses JAKARTA (JP): Minister of Mines and Energy Kuntoro Mangkusubroto has given sand quarrying companies off Batam Island until June 6 this year to renew their licenses. Kuntoro said on Friday the ministry would restructure sand quarrying operations off the island to allow a larger number of companies to quarry sand there.

Renault, Mitsubishi sign deal

Renault, Mitsubishi sign deal TOKYO (AFP): French automaker Renault SA has placed massive orders for turbochargers with Japan's Mitsubishi Heavy Industries Ltd. and plans to triple purchases in two years, a business daily said Saturday. Renault, which has been sourcing a major portion of turbochargers to Garrett Automotive Group of the United States, will buy 20,000 units from Mitsubishi between next April and March 2000, Nihon Keizai Shimbun said.

Village chief tortured to death

Village chief tortured to death IPUH, Bengkulu: Hundreds of Makmur Java villagers in North Bengkulu ran amok and tortured to death village chief Syamsul Jakfar, police said. North Bengkulu police precinct chief Lt. Col. Sugeng Haryanto said that retaliation might be the motive behind the murder, which he said involved locals. The victim, he said, frequently uttered obscene words to the villagers.

Megawati warns of outburst of anger over unfair election

Megawati warns of outburst of anger over unfair election JAKARTA (JP): Megawati Soekarnoputri warned on Sunday of possible outbursts of popular anger if the June 7 general election failed to proceed freely and fairly. The chairwoman of the popular faction of the splintered Indonesian Democratic Party (PDI) was addressing a gathering of 6,000 supporters at the faction's headquarters in Lenteng Agung, South Jakarta. She then called on the government to keep its promise of a fair and open poll.

Asia sovereign credit risk is improving

Asia sovereign credit risk is improving HONG KONG (Reuters): Asian sovereign credit risk is declining as many countries show improvements in their external positions, but the outlook for banks and companies remains murky, analysts said on Friday.

Deflation rears its ugly head in crisis-hit Asia

Deflation rears its ugly head in crisis-hit Asia SINGAPORE (AFP): When Asian currencies hit record lows in mid- 1997, the region's economies were saddled with high inflation due largely to expensive imported items which the region heavily relied on. Today, governments are grappling with crashing consumer prices.

Employees of Taman Mini go on strike over bonus

Employees of Taman Mini go on strike over bonus JAKARTA (JP): Some 800 employees of the 900-strong workforce of Taman Mini Indonesia Indah (the Beautiful Indonesia in Miniature Park) in East Jakarta went on strike on Sunday to press their demands for a raise in their annual Idul Fitri allowance. The protest which started at around 8 a.m.

Contracts for Natuna gas fields to be extended

Contracts for Natuna gas fields to be extended JAKARTA (JP): Minister of Mines and Energy Kuntoro Mangkusubroto said the government would extend production sharing contracts (PSCs) on gas fields west of Natuna island to allow contractors to earn more revenue from the sale of gas to Singapore. Kuntoro said the ministry had asked President B.J.

Golkar shifts stance in political bills debate

Golkar shifts stance in political bills debate JAKARTA (JP): The debate on whether Indonesia's 4.1 million public servants should be allowed a political role has entered a new phase with the dominant Golkar functional group showing signs of relenting. It has offered to drop the matter altogether from the deliberation of the political bills in the House of Representatives (DPR) and have it regulated instead by another law. Golkar Deputy Chairman Marzuki Darusman reaffirmed the offer on Sunday.

Investors agree to reduce value of 'marked up' roads

Investors agree to reduce value of 'marked up' roads YOGYAKARTA (JP): Investors in 21 troubled toll road projects have agreed to lessen the projects values and shorten the concession periods following allegations that the contracts were obtained from the government through corruption, collusion and nepotism.

Marine clay exports denied

Marine clay exports denied We refer to your article "Plans to import discarded Singaporean clay questioned" on Dec. 28, 1998. We would like to reiterate that the Singapore Ministry of the Environment (ENV) has not granted approval to any Singapore or Indonesian company to export excavated materials, including marine clay, to Indonesia for the mangrove rehabilitation project at Teluk Pelambung in Riau.

Where to go in Jakarta:

Where to go in Jakarta: Exhibitions * Photo Exhibition: Dari Lengser Sampai Semanggi, at Galeri Foto Jurnalistik Antara, Jl. Antara No. 59 Pasar Baru, Central Jakarta (Phone: 3458771), 11:30 a.m. to 7:30 p.m., until Jan. 14. * Painting Exhibition: Dari Mata Pena Menulis Makna, by Boyke Aditya Krishna, at Galeri Milenium, Blok B-23, Jl. R.S. Fatmawati No. 15, South Jakarta (Phone: 7507828), Monday to Saturday, 10 a.m. to 8 p.m., Sunday, 10 a.m. to 4 p.m., until Jan. 20.

Mahathir tries to regain footing ahead of polls

Mahathir tries to regain footing ahead of polls By Nelson Graves KUALA LUMPUR (Reuters): Malaysian Prime Minister Mahathir Mohamad has clipped his own wings to stem mounting criticism over his sacking of Anwar Ibrahim and regain the political initiative ahead of general elections. Mahathir reshuffled his cabinet last Friday, filling the deputy prime minister slot which had been vacant since Anwar's September sacking, promoting trusted cabinet allies and stripping himself of two key portfolios.

Jakarta starts seeing exodus as Idul Fitri holiday nears

Jakarta starts seeing exodus as Idul Fitri holiday nears JAKARTA (JP): Despite the monetary crisis, thousands of people carrying overloaded bags flocked to the city's major bus terminals and train stations on Sunday for the ritual Idul Fitri exodus. The large crowds lining up for tickets to their hometowns in Java, Sumatra, Nusa Tenggara and Bali forced many of the holidaymakers to spend the night in the terminals and stations in an attempt to claim an elusive space on a bus or train.

Guard stabbed while defending bonuses

Guard stabbed while defending bonuses TANGERANG (JP): A security guard at footwear manufacturer PT Starwin in the Cikupa district here was seriously injured after being attacked by six armed robbers in the early hours of Saturday. Sugeng's live was saved by security guards from nearby factories who rushed to his aid after hearing his screams. When the security guards arrived on the scene the robbers fled in different directions.

Bogor students plan new rally

Bogor students plan new rally JAKARTA (JP): Students in Bogor pledged to stage fresh rallies shortly after the Idul Fitri holiday, promising the rallies would not be marred by violence. The statement was made by leaders of various student groups during a meeting on Saturday evening at the Al Falaq Islamic boarding school in Bogor, about 45 minutes from here, Antara reported.

Tea producers predict another gloomy year

Tea producers predict another gloomy year JAKARTA (JP): Local tea producers have predicted another gloomy outlook this year as overwhelming supply in the world market would continue to depress tea prices. The Indonesian Tea Association's chairman, Rachmat Badruddin, said on Friday that tea output was currently exceeding its demand and would result in weakening prices.

RI banking sector future 'still gloomy'

RI banking sector future 'still gloomy' NEW YORK (Dow Jones): Moody's Investors Service says that even if the proposed bank recapitalization plan for the Indonesian banking system is successfully implemented, the immediate ratings implications are limited, as the sector continues to face major hurdles on the path to recovery. In a report published last week, Moody's says challenges for the Indonesia banking system include: * The high cost of recapitalization.

Legislators abducted over election

Legislators abducted over election MATARAM, West Nusa Tenggara: Around 300 people on Saturday dragged 11 councilors out of a session of the West Lombok legislative council and forced them to deliver to Governor Harun Al Rasjid their objection to the government's list of candidates for regent. Witnesses described how the mob roughly forced the councilors to leave, bundled them into a number of cars and took them to meet Harun.

Rescuers search for tidal wave victims

Rescuers search for tidal wave victims ZAMBOANGA, Philippines (DPA): Navy and civilian rescuers frantically searched on Sunday for 12 people missing after tidal waves battered coastal villages in the southern Philippines, killing at least six. Abdurahman Jamasali, interior secretary of the Autonomous Region of Moslem Mindanao, said the 12 people, mostly fishermen, have been missing since last Wednesday when tidal waves as high as 7 metres pounded the remote town of Sitangkai, Tawi-tawi province.

Riddles solved

Riddles solved As I stared at the harbor lights -- the stars were invisible -- moments before the world entered 1999 -- I believed I had the answers to some of the riddles confronting the nation today. First, there is the hunt for the treasures of former president Soeharto. It has, according to prediction, slowed down and been distracted by other issues and minor personalities.

Ramadhan time for Jakarta

Ramadhan time for Jakarta Monday Maghrib 6:16 p.m. Tuesday Imsak 4:15 a.m. Subuh 4.25 a.m.

Hardship 'driving people to violence'

Hardship 'driving people to violence' JAKARTA (JP): Economic hardships have driven people to such desperation that many are ignoring the Ramadhan fasting month tenet of self-control, scholars agreed on Saturday. Alwi Shihab, Syafii Maarif and Ignas Kleden spoke separately to The Jakarta Post about outbursts of violence which have occurred in many parts of the country during the fasting month.

How neutral is 'neutral'?

How neutral is 'neutral'? "Neutrality" in Indonesian politics has meant anything but neutral, just like our "democracy" is not really democratic. This has been the case throughout the 32 years of the New Order regime. The civil service and the Armed Forces (ABRI), while professing neutrality, supported former president Soeharto and his political machine Golkar to help sustain power.

Minister's decision upsets Golkar boss Akbar Tandjung

Minister's decision upsets Golkar boss Akbar Tandjung JAKARTA (JP): Minister of Cooperatives and Small Enterprises Adi Sasono was in disagreement with Golkar chairman Akbar Tandjung on Saturday when he reiterated his decision not to campaign for Golkar in this year's general election. On the same day, Akbar said as one of Golkar's deputy chairmen Adi was obliged to campaign for the political group.

Expatriates operating illegal businesses in Jepara

Expatriates operating illegal businesses in Jepara JAKARTA (JP): The Ministry of Manpower will take measures against more than 170 expatriates who are operating their businesses illegally in the Central Java town of Jepara. Director General of Manpower Placement and Development Din Syamsuddin said here on Saturday that the expatriates's illegal businesses had caused material and moral losses to the government, the local people and businessmen.

Quarantine office head removed for bribery

Quarantine office head removed for bribery JAKARTA (JP): Minister of Justice Muladi has temporarily removed the acting head of the city's immigration quarantine office from his post for allegedly receiving a Rp 40 million bribe in exchange for the release of two foreigners, an official said.

Govt set to repeal subversion law

Govt set to repeal subversion law JAKARTA (JP): The government is scheduled to repeal the Subversion Law next week in response to fierce public criticism and in order to bring the Criminal Code into accordance with the recently approved anti-torture convention.