Indonesian Political, Business & Finance News

Archive: 14 January 1999

53 articles found

Soldiers' remains to be returned

Soldiers' remains to be returned JAKARTA (JP): Remains of eight World War II U.S. soldiers found in Irian Jaya will be returned to their families following a ceremony scheduled for Jan. 22. Trikora military commander Maj. Gen. Sembiring is to officially give the remains to commander of the U.S. 13th Air Force, Maj. Gen. Waskow, in the ceremony in Jayapura. According to the U.S. embassy here, the remains were identified by a team of 10 specialists from the U.S.

Prudential doubles income

Prudential doubles income JAKARTA (JP): Despite the economic crisis, PT Prudential BancBali Life Assurance nearly doubled its premium revenue to Rp 36.9 billion (about US$4.6 million) in 1998, its president said on Tuesday. Shelton Chellappah, speaking at the announcement for the planned launching of an investment-linked insurance scheme, said that the outlook for 1999 remained bright for Indonesia's life insurance industry.

Kidnapping of 22 in southern RP

Kidnapping of 22 in southern RP ZAMBOANGA, Philippines (AFP): Muslim militants in the southern Philippines kidnapped 22 men they accuse of drug trafficking, but later freed 15 of them, officials said on Wednesday.

Asian monies plunge against dollar amid market worries

Asian monies plunge against dollar amid market worries SINGAPORE (Dow Jones): Southeast Asian currencies were well down against the U.S. dollar in late trading Wednesday, as the market grappled with the double-barreled news of the Bank of Japan's multi-billion dollar market intervention Tuesday to prop up the U.S. dollar and Brazil's imploding economic woes. In Tokyo, the dollar was quoted at 111.53-57 yen, down from 112.53-55 yen in mid-morning trade and 112.38 yen in New York late Tuesday.

High unemployment may worsen: ILO

High unemployment may worsen: ILO BANGKOK (AFP): Asia's unemployment crisis triggered by the region's economic meltdown may deepen as desperate businesses further slash their workforces, the International Labor Office warned on Wednesday. The crisis has "reversed decades of progress towards full employment in Indonesia, the Republic of Korea (South Korea) and Thailand," the Geneva-based Office said as a labor conference opened here with officials from 12 Asia-Pacific nations attending.

Telephone cables stolen in C. Java

Telephone cables stolen in C. Java PURWOKERTO, Central Java (JP): A total of 415,000 meters of telephone cable has vanished along a railway route, disrupting communications here. Although the damage done from the theft of the copper cables was not too severe, "we have to work extra fast to replace the cables," said Masduki Achmad, branch head of the state-run railway firm, PT Perumka. He said the thefts had all occured in the past month.

Conversion Rates

Conversion Rates Bank Bali's conversion rates on Jan. 13, 1999: TT rates Bank notes rates Buying Selling Buying Selling Rp Rp Rp Rp U.S.

Rupiah slides 7% to close at 8,600 against the dollar

Rupiah slides 7% to close at 8,600 against the dollar JAKARTA (JP): The financial market sank again on Wednesday, with the rupiah sliding 7 percent to close at 8,600 and stock prices falling nearly 4 percent. Currency dealers said that Indonesia's beleaguered rupiah took another fresh knock on Wednesday as offshore speculators dumped the currency on fears of the country's deteriorating political and economic conditions.

Australian opposition calls for Timor Gap deal review

Australian opposition calls for Timor Gap deal review SYDNEY (Reuters): Australia's Labor opposition urged Prime Minister John Howard's government on Wednesday to review its Timor Gap oil sharing treaty with Indonesia as East Timor pushes for independence. But Deputy Prime Minister Tim Fischer said talk of a review of the special arrangements in the Timor Gap -- located in a specially designated Zone of Cooperation -- was premature. "This is absolutely premature...

Five killed in unrest in Luwu, dozens injured

Five killed in unrest in Luwu, dozens injured UJUNGPANDANG, South Sulawesi (JP): Five were killed, dozens more were injured, and around 90 houses were set alight during brawls between residents from several villages in the district of Sabbang in Luwu regency on Monday and Tuesday. Residents and security personnel said that warring parties had armed themselves with homemade firearms and an assortment of crude weapons.

Govt defends plan for bank recapitalization

Govt defends plan for bank recapitalization JAKARTA (JP): The government on Wednesday defended its costly bank recapitalization program, saying that it was necessary to revive the crippled economy. State Minister of National Development Planning Boediono warned that the process of economic recovery would stall if the banking system could not function properly due to a lack of capital.

Rice for the poor to reach 39% of targeted people

Rice for the poor to reach 39% of targeted people JAKARTA (JP): In a report to a Cabinet meeting on Wednesday, State Minister of Food and Horticulture A.M. Saefuddin said the government's program providing cheap rice for the poor could reach 38.9 percent of the targeted 17.5 million people for the current fiscal year.

Expats' obligation

Expats' obligation I would like to quote two separate stories which appeared recently in The Jakarta Post. The first is from an article entitled "Training ends for workers filling expatriates' shoes" which appeared on Jan. 7, 1999. Under a 1997 ministerial decree, foreign workers are obliged to make an annual payment of US$100 into the government's "Indonesianization" program. The second is from an article entitled "Expatriates operating illegal businesses in Jepara" which appeared on Jan.

Farmers burdened by landowner's request

Farmers burdened by landowner's request TANGERANG (JP): Hundreds of Cihuni farmers in Legok district here are seeking help from Tangerang regent Agus Djunara in their dispute with the owner of a plot on which they are cultivating crops. Villagers said on Wednesday the sudden demand of property developer PT Telaga Gading Serpong to a third of proceeds from crop sales was burdensome for them.

Badawi named NEAC deputy chairman

Badawi named NEAC deputy chairman KUALA LUMPUR (AP): Malaysia's new deputy prime minister was named deputy chairman of the country's National Economic Action Council, the group said on Wednesday. Abdullah Ahmad Badawi is also now a member of NEAC's executive committee, the council said in a statement. Prime Minister Mahathir Mohamad named Abdullah his deputy last week, filling a spot that was vacated when Anwar Ibrahim was fired Sept. 2.

Businesses told to forgo tax breaks

Businesses told to forgo tax breaks JAKARTA (JP): The tax revenue target set in the 1999/2000 state budget proposal can be obtained if industries don't ask for tax breaks, according to a senior government official. Director General of Tax Effendi Ritonga admitted that achieving the Rp 74.31 trillion (US$9.91 billion) income tax and value added tax target would be a "tough job", particularly amid declining bank deposit interest rates and economic difficulties.

Govt submits bill to boost central bank's freedom

Govt submits bill to boost central bank's freedom JAKARTA (JP): The government submitted to the House of Representatives on Wednesday the draft law on the central bank to replace a 1968 law often faulted as ineffective. Finance minister Bambang Subianto said the bill was designed to boost Bank Indonesia's independence to allow it to effectively operate as the country's highest monetary body.

Looters blamed for blackouts

Looters blamed for blackouts MEDAN, North Sumatra (JP): Blackouts in large areas of Medan and nearby Binjai on Monday were blamed on the continued theft of equipment belonging to the state-run electricity company, PLN. The head of PLN's provincial branch, Agus Pranoto, said that missing iron supports from three towers in Langkat were stolen, which led to the collapse of the towers and the blackouts. He was addressing the local council here on Wednesday.

Anwar says he is smeared by lurid sex allegations

Anwar says he is smeared by lurid sex allegations KUALA LUMPUR (Reuters): A Malaysian judge amended four corruption charges on Wednesday against sacked finance minister Anwar Ibrahim, prompting the former cabinet member to protest he had been unfairly smeared by sex allegations. "They already stripped me naked. Now they are amending the charges," a fuming Anwar told reporters during a break in his sex and corruption trial, in its 10th week.

Indonesian accused of kidnapping Japanese

Indonesian accused of kidnapping Japanese TOKYO (Antara): A Japanese businessman has filed a report with local police over the kidnapping of his son by an Indonesian in December 1998, a source from the local police said as quoted by the Yomiuri Shimbun daily on Wednesday. The son has already been released and returned to Japan. Seiji Kawashima, 55, and his son Yoichi Kawashima, 31, were involved in a two-year partnership with an Indonesian export agency in Jakarta to buy Arwana fish.

Aceh military battalion commander replaced

Aceh military battalion commander replaced JAKARTA (JP): The Armed Forces has replaced the commander of a battalion whose members were involved in the killings of four Acehnese in military detention, another local military commander said on Wednesday. Lilawangsa Military Commander Col. Johnny Wahab told The Jakarta Post that Lt. Col. Iskandar M.S., the commander of Battalion 113, was succeeded by Lt. Col. Bambang Haryana at an official handover in the North Aceh capital of Lhokseumawe. "Lt. Col.

Australia shifts with times on East Timor issue

Australia shifts with times on East Timor issue By John Mair CANBERRA (Reuters): Australia's move to countenance independence for East Timor is in keeping with its pragmatic stand on the Indonesian-ruled territory, political analysts said. Far from an ideological sea-change, Canberra's apparent change of heart on Tuesday merely acknowledged a recent thaw in Jakarta's own hardline policy on the restive province, they said.

Hearing canceled in student no-show

Hearing canceled in student no-show JAKARTA (JP): A pretrial hearing in a wrongful arrest suit filed by an Indonesian Christian University student against the Jakarta Police was postponed on Wednesday due to the absence of plaintiff, who remains in police custody. Presiding judge Sultan Mangun adjourned the session at the South Jakarta District Court until Thursday and ordered the city police to bring plaintiff Rudi Pahala Simatupang Siburian to court.

Support for Gus Dur as president

Support for Gus Dur as president From Sinar Pagi I fully agree the decision of the National Awakening Party (PKB) to nominate Abdurrahman Wahid (Gus Dur) as candidate for Indonesia's fourth president. In my opinion Gus Dur has certain advantages over other community figures. I believe there are at least nine such advantages. First, Gus Dur is on good terms with Armed Forces Commander Gen. Wiranto.

Lee criticizes campaigner Chee

Lee criticizes campaigner Chee SINGAPORE (AP): Elder statesman Lee Kuan Yew has criticized an opposition politician campaigning for free speech, accusing him of trying to emulate Malaysia's jailed reform leader. Singapore Democratic Party chief Chee Soon Juan "thinks that he's like Mr. Anwar Ibrahim of Malaysia ... leading the crowds in 'reformasi.' Well, let him try," said Senior Minister Lee in a telephone interview Tuesday with BBC radio.

ABRI waging war with its tarnished image

ABRI waging war with its tarnished image JAKARTA (JP): The Armed Forces is striving to improve its badly stained image, which some high-ranking military officials have blamed on the press. Chief of ABRI's territorial affairs Lt. Gen.

Why this discrimination?

Why this discrimination? I have been an ardent member of the Rancamaya Golf Club at Bogor for several years and have enjoyed not only the club's facilities but the majestic panorama as well.

Japan's rescue fund 'too slow'

Japan's rescue fund 'too slow' TOKYO (AFP): Japan's US$30 billion Asian rescue package is so slow-footed the crisis will be over before it is spent, Malaysian Premier Mahathir Mohamad said in an interview published here on Wednesday. The package is "very effective" for Asian countries, Mahathir told the Mainichi newspaper. "But it has to be dispersed in time," he warned, complaining about slowness and excessive red tape.

'King Lear' goes East

'King Lear' goes East JAKARTA (JP): In a very unusual artistic event a group of actors from six countries will perform an Asian version of King Lear early next month. The three-day production, starting on Feb. 5, will take place at Teater Tanah Airku in the Taman Mini Indonesia Indah compound, East Jakarta. The story of Lear, written by the Japanese Rio Kishida and produced by the Japan Foundation is based on William Shakespeare's work King Lear.

House urged to rule out ABRI's voting rights

House urged to rule out ABRI's voting rights JAKARTA (JP): Two political parties have made last gasp attempts to introduce changes to the political bills by calling on the House of Representatives to remove the voting rights given to unelected members of the military in the House and to take measures to curb money politics.

Golkar: Past and present

Golkar: Past and present From Pikiran Rakyat The Functional Group (Golkar) assumes a unique position in this reform era. Akbar Tandjung's recent reaction shows that on the one hand, it does not see the need to apologize but, on the other, it realizes that during the New Order era it subjugated itself to the autocratic power of the president.

Ramadhan time for Jakarta

Ramadhan time for Jakarta Thursday Maghrib 6:17 p.m. Friday Imsak 4:17 a.m. Subuh 4.27 a.m.

Fire destroys Bandung market

Fire destroys Bandung market BANDUNG (JP): A fire destroyed at least 320 of 410 kiosks at Bandung's Ancol market on Tuesday night and was only put out in the early hours of Wednesday. Losses were estimated at Rp 4 billion. No casualties were reported. The market was closed when the fire began. Traders generally oprate between 4 a.m. and 4 p.m..

Where to go in Surabaya:

Where to go in Surabaya: Exhibition * Painting Exhibition at Shangri-La Hotel, Jl. May. Jend. Sungkono 120 (Phone: 031 5661550), until Jan. 24. Music and Entertainment * Hyatt Regency Surabaya, Jl. Jend. Basuki Rakhmat 106-128 (Phone: 031 5311234): - The Tavern Pub: Phenomenon Band, Monday to Friday, 9 p.m. to 1 a.m., Saturday, 9 p.m. to 2 a.m. - Lobby: Gamelan (Traditional Music), Monday to Sunday, 6 p.m. to 7 p.m., Solo Pianist, Monday to Sunday, 7 a.m. to 9 a.m., Friday to Saturday, 7 p.m.

Yogyakarta to get Islamic village

Yogyakarta to get Islamic village YOGYAKARTA (JP): Plans to set up an international Islamic village here were announced by Governor Sultan Hamengku Buwono X on Wednesday. The traditional monarch said after a plenary meeting with the local council that 27 countries had conveyed their support for the plan. Among them were Brunei Darrusalam, Malaysia, the United States and a number of Middle Eastern countries.

Tanah Abang kiosks closed after 'threat'

Tanah Abang kiosks closed after 'threat' JAKARTA (JP): Hundreds of kiosks at the busy Tanah Abang market in Central Jakarta were abruptly closed by their owners on Wednesday afternoon in fear of a gang of hoodlums, who had become incensed after their demands for Idul Fitri money were rejected.

Al Markaz al Islami, a South Sulawesi landmark

Al Markaz al Islami, a South Sulawesi landmark By Jupriadi UJUNGPANDANG (JP): Jakarta has the Istiqlal, Banda Aceh its Baiturrahman and Ujungpandang its Al Markaz al Islami. Those are the three largest and most popular mosques in the country. Al Markaz, which is what the Ujungpandang people usually call it, is indeed imposing. This mosque is now the symbol of Islamic revival in Indonesia's eastern regions and the landmark of the South Sulawesi people.

Where to go in Bali:

Where to go in Bali: Exhibitions * Woodcarving Exhibition: The Legacy, at Museum Puri Lukisan, Jl. Raya Ubud, Gianyar (Phone: 0361 975136), 8 a.m. to 4 p.m., until Feb. 29. Music and entertainment * Sheraton Nusa Indah, Nusa Dua (Phone: 0361 771906): - Poolside: Cultural Dances, Thursday and Monday, 7:30 p.m. to 10 p.m. * Sheraton Laguna, Nusa Dua (Phone: 0361 771327): - Poolside: Cultural Dances, Wednesday and Sunday, 7 p.m. to 10 p.m.

Safety net program not running well

Safety net program not running well JAKARTA (JP): The country's multibillion dollar social safety net program has not run well because of the overcautiousness of government officials in distributing the aid, according to the government-sponsored social safety net monitoring task force.

Paying telephone bills

Paying telephone bills As a long-standing subscriber of PT Telkom living in the Pamulang area, I have observed over the years that there has been no improvement in the service for the payment of monthly telephone bills. The waiting time used to be at least one hour, a situation which people accepted grudgingly. However, the situation has grown worse now. Subscribers must register one day before paying their bills.

Stock Exchange

Stock Exchange Stock prices on the Jakarta Stock Exchange (in rupiah) on Jan. 13, 1999: Shares Close Change Trading Volume ------------------------------------------------------------ Ades Alfindo 450 0 0 AHAP Insurance 400 0 0 Alter Abadi 300 0 540,000 Alumindo Light Metal 300 -25 330,500 Alumindo Perkasa 125 0 0 Aneka Kimia Raya 225 -25 84,500 Aneka Tambang 1,575 -50 2,651,500 Anwar Sierad 100 0 0 Apac Centertex Corp.

Lawsuit filed against Baramuli for slander

Lawsuit filed against Baramuli for slander JAKARTA (JP): Former Army general Kemal Idris and former Jakarta governor Ali Sadikin plan to file a lawsuit against A.A. Baramuli, chairman of the Supreme Advisory Council, for slander. The two opposition figures said in a media release on Tuesday that Baramuli's statement, quoted by the Suara Karya and Mercusuar dailies in November, that the two were traitors and immoral, was "indecent and violated the presumption of innocence".

Regent told to resign

Regent told to resign KUPANG, East Nusa Tenggara: Community leaders in West Sumba have urged Regent Rudolf Malo to resign because of his inability to prevent a clash among residents which killed 27 people last November. Antara reported Wednesday that 322 people, led by former two- term regent Umbu Djima, went to the council on Tuesday, when Malo was there, to demand he step down.

Crybaby for 'cengeng'

Crybaby for 'cengeng' I am writing in response to Ifrad Sukanto's letter of Jan. 13. I presume that his original letter on Gus Dur was in Bahasa Indonesia and translated into English. I also presume that the original Indonesian world for "tearful" was "cengeng". In that case, the more appropriate choice of word would be crybaby. Tearful conveys that the person is sad or remorseful, thus, it does not convey the gist of the letter's intent. JULIE MARSABAN Jakarta

Govt to sell bonds worth billions of dollars to BI

Govt to sell bonds worth billions of dollars to BI JAKARTA (JP): The government plans to sell bonds worth tens of billions of dollars to Bank Indonesia to fund the bank recapitalization program, a senior minister said on Wednesday. Coordinating Minister for Economy, Finance and Industry Ginandjar Kartasasmita told journalists after meeting President B.J.

Investment in new hotels set to stay low this year

Investment in new hotels set to stay low this year JAKARTA (JP): Investment in new hotels in the capital will remain low this year as fears over security problems will continue to discourage investors, analysts have said.

Discounted luxury -- for those who can afford it

Discounted luxury -- for those who can afford it By Juliane Gunardono JAKARTA (JP): Entering Plaza Indonesia is like entering a spaceship. There are no signs of the cosmos of Jakarta street life, no sweaty people who have just squeezed themselves out of an overfilled city bus, no sidewalk vendors, nobody wearing sandals or dirty shirts, no bad smells, no rush and no noise.

Property firm taken to court for unpaid debt

Property firm taken to court for unpaid debt JAKARTA (JP): Multifinance firm PT Perdana Jatiputra and its director Lukman Kolim filed a bankruptcy petition against property company PT Metropolitan Development at the commercial court on Wednesday. According to court data, the suit was based on Metropolitan's failure to pay US$514,965.64 in promissory notes. Data outlined Metropolitan's total debt comprised $250,000 in notes issued on Nov. 4 in 1997, which matured on Dec.

Consortium urged to pay persisting debts for SEAG

Consortium urged to pay persisting debts for SEAG JAKARTA (JP): The management board of the Senayan sports complex called on Wednesday for the establishment of a deadline by which time the Southeast Asian (SEA) Games underwriting consortium must settle its debts. The vice chairman of the board, Agung Laksono, hinted that he was losing his patience after the consortium failed to live up to its assurances that it would begin paying its debt in installments beginning in October of last year.

Idea to localize gambling blasted

Idea to localize gambling blasted JAKARTA (JP): City councilors expressed outrage on Wednesday at suggestions of gambling being localized in the capital, saying that it was against both the nation's laws and cultural values. Achmad Suaidy, head of the United Development Party (PPP) faction, said that should gambling be localized, it would not only incite the public but it would also defy the central government. "This is no longer about religion, or about being Muslim or non-Muslim.

Restoring investor confidence

Restoring investor confidence Once again Indonesia has had to swallow a bitter pill, and due to one single factor: the absence of certainty. Among the factors contributing to the climate uncertainty are the deteriorating security situation, the political friction coming to the surface as the general election nears and the mass upheavals occurring in various areas across the country.

Closed-door meeting at Ministry of Justice

Closed-door meeting at Ministry of Justice JAKARTA (JP): Minister of Defense and Security/Armed Forces Commander Gen. Wiranto, Minister of Justice Muladi, Attorney General A.M. Ghalib and deputy chief of the National Police Lt. Gen. Nana Permana held a closed meeting at the Ministry of Justice on Wednesday, and shunned questions from reporters who asked about the nature of their gathering.

NGO says East Timor should be military-free

NGO says East Timor should be military-free JAKARTA (JP): The government should change the way it governs East Timor and declare the province a military-free zone, according to a group of activists campaigning for peace in the troubled province. Solidamor, a non-governmental organization concerned with East Timor, issued the statement on Wednesday.