Indonesian Political, Business & Finance News

Archive: 15 January 1999

57 articles found

Indonesian found dead in Kuala Lumpur

Indonesian found dead in Kuala Lumpur JAKARTA (JP): A 21-year-old Indonesian cleaner was found dead in the New Straits Times building in Kuala Lumpur, Antara reported on Wednesday. It identified the deceased as Muji Yanto Samian, an employee of Alam Anika Ltd. Muji's body was found hanging from a pole on the building's sixth floor. It will be brought back to Indonesia on Saturday, Fachry Sulaeman from the Indonesian Consulate in Kuala Lumpur said.

Flood inundate nine subdistricts

Flood inundate nine subdistricts JAKARTA (JP): Hundreds of houses in nine subdistricts in North and South Jakarta were inundated on Wednesday night following a heavy downpour in the capital. Floodwaters of up to 80 centimeters deep engulfed eight subdistricts in South Jakarta, with Kramat Pela, Mampang and Gunung among the worst hit areas.

'Lampung Pos' office attacked

'Lampung Pos' office attacked BANDARLAMPUNG, Lampung: Dozens of people attacked the office of Lampung Pos daily on Thursday, apparently incensed by an erroneous news item, Antara reported. The mob almost hit chief editor Bambang Eka Wijaya. They reportedly arrived in three hired buses. The attackers decried an article which reported a home was guarded by a particular youth organization. They demanded a retraction, contending the house was guarded by another organization.

Thailand seeks Myanmar help

Thailand seeks Myanmar help BANGKOK (AFP): Thailand's narcotics chiefs have officially asked for Myanmar's help to track down a suspected drug lord thought to be hiding in the jungles along the Myanmar border, officials said Wednesday. The request was made at a high-level meeting of the neighboring countries' anti-drug agencies in Myanmar's eastern Tachilek township, officials said.

Minister defends social safety net program

Minister defends social safety net program JAKARTA (JP): Officials insisted on Thursday that a sufficient amount of control of the government's social safety net program was already in place, rebuffing criticisms over the slow distribution of aid and a lack of transparency in the program.

Going to bat for Habibie

Going to bat for Habibie From Merdeka I was unsettled to read in the Dec. 17 Kompas daily that Mr. Baramuli, who chairs the Supreme Advisory Council, made a speech in the South Sulawesi capital Ujungpandang in which he campaigned for the ruling Golkar to win the next general election. He warned that if Golkar lost it would mean that Habibie, described as a native of South Sulawesi, would be out of the presidency. I have the following comments. 1. Is Habibie from South Sulawesi?

Sex and corruption strange bedfellows in Anwar trial

Sex and corruption strange bedfellows in Anwar trial By Nelson Graves KUALA LUMPUR (Reuters): Sex and corruption have been strange bedfellows from the start of Anwar Ibrahim's trial. But they were never stranger than on Wednesday when government prosecutors abruptly altered four charges against Malaysia's former finance minister.

Malaysia opposed to U.S. mediation

Malaysia opposed to U.S. mediation KUALA LUMPUR (AP): Malaysia opposes any mediation by the United States or other third parties to resolve a dispute between six Asian nations over the Spratly Island chain, local media reported Thursday. Malaysia's newly appointed foreign minister, Syed Hamid Albar, said countries with overlapping claims to the group of islands in the South China Sea should come to terms on the issue among themselves, the Bernama national news agency reported.

Gunmen hold up 50 Dakar Rally competitors

Gunmen hold up 50 Dakar Rally competitors PARIS (Reuters): Mauritanian troops on Thursday hunted highway robbers fleeing across the Sahara desert after robbing about 50 Dakar Rally competitors at gunpoint, organizers said on Thursday. The drivers fell one after one into a trap set up by about 20 well-armed men 50 kilometers from the end of the 12th stage in Tichit, Mauritania, on Wednesday night.

Clinton moves to reassure global financial markets

Clinton moves to reassure global financial markets WASHINGTON (AP): President Clinton is trying to restore confidence in financial markets after an abrupt devaluation of Brazil's currency called into question his strategy for dealing with the 18-month-old global economic crisis. Clinton said on Wednesday he and members of his economic team were monitoring the crisis in Brazil closely and had been in contact with Brazilian authorities, the International Monetary Fund and U.S. allies.

Idul Fitri exodus may fall short of forecasts

Idul Fitri exodus may fall short of forecasts JAKARTA (JP): The number of residents leaving the city by bus ahead of this year's Idul Fitri holiday is not expected to reach the set target of 1.2 million, down from 1.4 million last year, an official said on Thursday. J.P. Sepang, head of the City Land Transportation Agency (DLLAJ), said the sharp drop could possibly be a result of the severe impact of the prolonged economic crisis.

China seeks Hollywood star power Nanjing Massacre

China seeks Hollywood star power Nanjing Massacre By H. Asher Bolande NANJING, China (AFP): China has begun negotiations with Hollywood's top stars and producers in hopes of making an award- winning Schindler's List of its own to dramatize the horrific 1937 Nanjing Massacre.

Killings have no link to military reshuffle

Killings have no link to military reshuffle SURABAYA (JP): Maj. Gen. Djoko Subroto, who has headed the Brawijaya Military Command for only six months, was replaced on Thursday by Maj. Gen. Ryamizard Ryacudu. Army Chief of Staff Gen. Subagyo Hadisiswoyo described the hasty tour of duty as normal, and denied that Djoko's replacement was caused by his failure to handle mysterious massacres in which hundreds of people, mostly Muslim preachers, were killed late last year.

Postal firm busy ahead of Idul Fitri

Postal firm busy ahead of Idul Fitri JAKARTA (JP): The amount of money that has been sent out of the city by state-owned postal company PT Pos Indonesia through money orders seven days ahead of the Idul Fitri holiday quadrupled to Rp 40 billion (US$5.33 million) from only Rp 10 billion in the same period last year, an official said. Bangbang Suherman, the company's spokesman, said on Tuesday that the large increase was possibly caused by fear over the rising trend of crimes.

EVA Air clarifies

EVA Air clarifies Herewith, we would like to further clear up misunderstandings arising from the article CAL, Eva review schedules in the Business and Investment section on page 9 of The Jakarta Post, Jan. 7, 1999. It stated that EVA Airways will drop its flights from and to Los Angeles on account of financial problems. This statement has confused our customers. There are a few points that we would like to clarify: 1. EVA Air has no financial problems.

Mashill needs Rp 300b to meet CAR terms

Mashill needs Rp 300b to meet CAR terms JAKARTA (JP): Bank Mashill will need Rp 300 billion in fresh capital to meet the 4 percent capital adequacy ratio (CAR) mandated by the government for all publicly listed banks by March, its executives said on Wednesday. Mashill president Dradjat Bagus Prasetyo disclosed to reporters that his bank fell into the category which qualified it for official assistance under the government's banking recapitalization program.

Ginandjar clarifies rice distribution

Ginandjar clarifies rice distribution JAKARTA (JP): Responding to Japan's concern over reports of problems in the distribution of its rice loan, Coordinating Minister for Economy, Finance and Industry Ginandjar Kartasasmita invited on Thursday any parties, including journalists and nongovernmental organizations (NGOs), to directly check the distribution of the rice. "I have told the Japanese government to send their investigators here," Ginandjar said after accompanying President B.J.

Residents report spat with military

Residents report spat with military SERUI, Irian Jaya (JP): Residents reported to councilors on Wednesday alleged beatings by military personnel in Yapen Waropen regency. Three people told council speaker J.Mansai that military members entered their homes on Tuesday night and beat inhabitants indiscriminately. A five-year-old was also kicked, according to spokesman K. Utoi.

PGN targets Rp 368.4m profit

PGN targets Rp 368.4m profit JAKARTA (JP): State-owned natural gas distribution company PT Perusahaan Gas Negara (PGN) expects to record a 242 percent increase in net profits as it marks up Rp 368.4 billion (US$46 million) this year against Rp 107.5 billion last year. Company president A. Qoyum Tjandranegara said on Thursday that the company was expecting its natural gas supply to increase by 95 percent to 522.85 million cubic feet per day (MMCFD) this year.

Capital controls work as 'shield' for KL

Capital controls work as 'shield' for KL LONDON (Reuters): Capital controls imposed at the height of last year's emerging markets crisis will help shield Malaysia from the current Brazil-inspired turmoil, a Malaysian minister said on Wednesday.

Soehartos to holiday in Surakarta

Soehartos to holiday in Surakarta JAKARTA (JP): Former president Soeharto and his entire family are planning to say their Idul Fitri prayer at Dalem Kalitan complex in the Central Java town of Surakarta, which was owned by his late wife, Tien Soeharto, according to a spokesman. Zainal Maarif was quoted by Antara as saying Soeharto will be accompanied by a 150-member family entourage including his children, grandchildren and Muslim scholar Quraish Shihab.

Confusion undermining emergency funds program

Confusion undermining emergency funds program JAKARTA (JP): Executives of Village Resilience Boards (LKMD) have been finding it hard to cope with a sudden influx of community development funds worth more than Rp 109 billion due to a lack of guidance. Executives contacted by The Jakarta Post on Wednesday and Thursday said that boards and local communities did not know what they were expected to do with the money.

Government sells 100m shares in Indofood

Government sells 100m shares in Indofood JAKARTA (JP): The government has sold 100 million shares, or 53.76 percent of its total stake, in the publicly listed instant noodle maker PT Indofood Sukses Makmur for Rp 5,000 each, a senior government official said.

Former battalion commander to go on trial in Aceh

Former battalion commander to go on trial in Aceh JAKARTA (JP): A former battalion commander in Aceh, whose men were involved in the torture-killing of four people under military detention, is due to go on trial this week, the local military police chief said on Thursday. North Aceh Military Police chief Lt. Col. Musmarsono told The Jakarta Post from Lhokseumawe that the report on Maj.

Return to sender

Return to sender The Japanese people's disquiet about Indonesia's handling of its rice aid is a classic example of the low opinion foreigners have of the Indonesian government's integrity. They have good reason to be apprehensive. After all, Indonesia is ranked among the world's most corrupt nations by the Berlin-based corruption watchdog Transparency International, and tops the list in Asia.

Sukarno-Hatta airport to be leased to foreign firm

Sukarno-Hatta airport to be leased to foreign firm JAKARTA (JP): The Soekarno-Hatta International Airport is to be leased to a foreign airport management service company under a 30 year concession contract, said the president of state-owned airport management company PT Angkasa Pura II, Miskul Firdaus. He said that the privatization process would be completed by the end of March 1999.

Floods hit crops in Sumatra; another victim found in Bali

Floods hit crops in Sumatra; another victim found in Bali JAKARTA (JP): Floods have hit South Sumatra regencies but residents have refused to budge despite several warnings from the authorities, saying Thursday they most feared for the safety of their crops. Meanwhile the search for victims of last Thursday's landslides in Gianyar, Bali, found one more victim, with a further casualty still believed to be under the mud.

A case at last in Riau court

A case at last in Riau court PEKANBARU, Riau: Dormant court dealings received a jolt with the first case filed before the State Administrative Court here since its establishment three years ago. A resident, Hasbullah, sued President B.J. Habibie, Minister of Home Affairs Syarwan Hamid and council speaker Darwis Rida over the appointment of Governor Brig. Gen. Saleh Djasit, Antara reported on Thursday.

Luxemburg assists Thailand

Luxemburg assists Thailand BANGKOK (DPA): Luxemburg Prime Minister Jean-Claude Juncker pledged on Thursday to lobby the European Union for a reappraisal of Thailand's lost general system of preferences (GSP) privileges.

Woman found dead outside home

Woman found dead outside home JAKARTA (JP): Neighbors found a housewife dead in front of her home early on Wednesday morning in a red-light district in East Jakarta. Karniti, 35, is believed to have died from a single stab wound to her heart. Her body was sent for autopsy to Cipto Mangunkusumo General Hospital in Central Jakarta. Her husband, Sasmita, 40, said at the hospital's morgue he did not know the circumstances of her death in Prumpung, Rawa Bunga, because he was not at home.

Travel drive makes way for Indo-Pakistani ties upgrade

Travel drive makes way for Indo-Pakistani ties upgrade AMRITSAR, India (AP): Pakistani officials were greeted with flowers and candy on Thursday as they crossed into India by a bus that will soon bring ordinary people from both countries together.

Ramadhan keeps mosques busy throughout the night

Ramadhan keeps mosques busy throughout the night By Mehru Jaffer JAKARTA (JP): Throughout Ramadhan, the ninth month of the Muslim year, mosques bustle with numerous activities that continue round the clock and revolve around fasting, a ritual that is one of the five pillars of Islam. At this time of the year the busiest part of the day at mosques and in many homes is always nighttime.

Leading reformists no-shows at dialog on disintegration

Leading reformists no-shows at dialog on disintegration JAKARTA (JP): The trumpeted national dialog to avert disintegration was not as star-studded as promised on Thursday when leading reform figures Amien Rais, Abdurrahman Wahid, Megawati Soekarnoputri and Sri Sultan Hamengkubuwono X failed to show.

Southeast Asian currencies ride out Brazilian storm

Southeast Asian currencies ride out Brazilian storm SINGAPORE (Dow Jones): Southeast Asian currencies survived a day of nervous trading activity following the effective devaluation of the Brazilian real, to end Asian hours on Thursday mixed against the U.S. dollar. In North Asia both the new Taiwan dollar and the South Korean won ended lower following Wednesday's announcement by the Brazilian central bank that it was to widen the real's trading band.

Concern over Brazil drags market down

Concern over Brazil drags market down JAKARTA (JP): The country's plagued financial market dropped again for the second consecutive day on Thursday with the rupiah losing 1 percent and shares prices falling 2.5 percent. Currency dealers said the rupiah succumbed to hit an intraday low of 8,800 against the U.S. dollar as it took another blow from the domino effect of the Brazilian real's devaluation. The rupiah, nevertheless, managed to claw back to 8,675 at the end of the day's trading.

Where to go in Jakarta:

Where to go in Jakarta: Exhibitions * Calligraphy Exhibition: by Yoesoef Effendie, at Jl. Mesjid I/19, Pejompongan, West Jakarta (Phone: 5733912), until Jan. 18. * Batik, Furniture Exhibition: Batik dan Antik, at Galeri TC, Jl. Kemang Raya No. 24A, South Jakarta (Phone: 7194278), Sunday, at 10:30 a.m. to 12 p.m., Monday to Thursday, 11:30 a.m. to 11:30 p.m., Friday to Saturday 11:30 a.m. to 1:30 a.m., until Jan. 31.

Australia's shift on East Timor

Australia's shift on East Timor Australia's decision to push for eventual independence for East Timor will give a boost to a people who continue to suffer, in spite of all that has been done to try to bring peace to the province. After the fall of Soeharto, and the apparent willingness of President B.J. Habibie to reach some kind of an accommodation with the East Timorese, it would have been unthinkable for Canberra to ignore the East Timorese longing for independence much longer.

ASEM meeting sparks talk of forging more stability

ASEM meeting sparks talk of forging more stability SINGAPORE (Reuters): Finance ministers from Asia and Europe get together for the second time on Friday, and with the advent of the euro are getting more focused on the idea of a single Asian currency. The birth of the euro on Jan. 1 has sparked a fresh debate about a single currency unit for the region, although analysts say this germ of an idea will take many years to come to fruition.

Unrest continues in Luwu regency

Unrest continues in Luwu regency LUWU, South Sulawesi (JP): Clashes among residents from several villages in the district of Sabbang in Luwu regency which have killed at least three people and injured dozens more continued on Thursday.

Banks suit claim 'ANteve' bankrupt

Banks suit claim 'ANteve' bankrupt JAKARTA (JP): Three foreign investment banks filed a bankruptcy claim on Thursday against private television station PT Cakrawala Andalas Televisi, known as ANteve. Lawyer Joni Aries Bangun for the banks Hong Kong-based IBJ Asia Ltd. and Korea Commercial Finance Ltd, and Seoul-based Hanareum Banking Corp. said that his clients were seeking to recover the money they invested in the US$70 million worth five year bonds issued by the television station.

Golkar figures launch new political party

Golkar figures launch new political party JAKARTA (JP): A group of disenchanted senior Golkar figures are to complete their separation from the dominant grouping on Friday morning by officially launching the Justice and Unity Party (PKP).

Conversion Rates

Conversion Rates Bank Bali's conversion rates on Jan. 14, 1999: TT rates Bank notes rates Buying Selling Buying Selling Rp Rp Rp Rp U.S.

RI out to better business ties with Singapore: Report

RI out to better business ties with Singapore: Report SINGAPORE (AP): Indonesia is promoting joint ventures with small and medium-sized businesses in other Asian countries in order to distribute economic resources more equitably, a Singapore newspaper reported on Thursday.

Australia stands by Timor gap treaty

Australia stands by Timor gap treaty CANBERRA (Dow Jones): The Australian government has dismissed calls for a review of a Timor Gap treaty with Indonesia, which allows the two nations to jointly exploit petroleum resources in the area, in the wake of Australia's decision to advocate self- determination for East Timor. Australia's opposition Labor Party Wednesday urged the ruling Liberal-National coalition to ensure East Timor receives Indonesian revenue from the Timor Gap fields.

Unocal speeds up projects

Unocal speeds up projects EL SEGUNDO, California (Reuters): Unocal Corp. said on Wednesday it will move up development plans for its deepwater West Seno oil and gas field offshore Indonesia to the second quarter of 1999 based on successful exploration results. The field, located offshore East Kalimantan, is owned jointly with Mobil Corp., is estimated to hold recoverable oil and gas reserves of about 150 million barrels.

Forestry concessions to be auctioned

Forestry concessions to be auctioned JAKARTA (JP): The government, for the first time, will auction three forest concessions in East and Central Kalimantan early next month. Director General of Forest Utilization Waskito Soerjodibroto said the concessions averaged 50,000 hectares to 100,000 hectares each. Their durations have lapsed or they were taken over by the government from errant holders.

Stock Exchange

Stock Exchange Stock prices on the Jakarta Stock Exchange (in rupiah) on Jan. 14, 1999: Shares Close Change Trading Volume ------------------------------------------------------ Ades Alfindo 400 -50 105,000 AHAP Insurance 400 0 0 Alter Abadi 275 -25 10,000 Alumindo Light Metal 300 0 17,500 Alumindo Perkasa 125 0 0 Aneka Kimia Raya 225 0 33,000 Aneka Tambang 1,525 -50 6,966,500 Anwar Sierad 100 0 0 Apac Centertex Corp.

Yayuk Basuki named Fed Cup team coach

Yayuk Basuki named Fed Cup team coach JAKARTA (JP): Shortly after her retirement from competitive tennis at this month's Australian Open, Yayuk Basuki will embark on a new career as a coach of the women's national team. The secretary-general of the Indonesian Tennis Association (Pelti), Sugeng Sarjadi, said on Thursday that Yayuk was expected to make her international coaching debut at the Fed Cup Asia Oceania qualifying tournament in Bangkok next month.

Ramadhan time for Jakarta

Ramadhan time for Jakarta Friday Maghrib 6:18 p.m. Saturday Imsak 4:17 a.m. Subuh 4.27 a.m.

South Korean to sue immigration directorate

South Korean to sue immigration directorate JAKARTA (JP): A South Korean businessman plans to sue the immigration directorate for arresting him on Jan. 12 and trying to deport him on allegations that he was a member of a dangerous criminal group. Young Jin Kim, accompanied by lawyer Otto Hasibuan, said on Thursday that the directorate, through a letter dated Jan. 12, ordered its officers to arrest him on allegations that he was a member of the Japanese Red Beret organization.

Custom officials foil 19 smuggling attempts

Custom officials foil 19 smuggling attempts TANGERANG (JP): The customs and excise office of the Soekarno- Hatta International Airport have managed to foil 19 smuggling attempts of items worth about Rp 782.2 billion (US$97.77 million) over the last 10 months, an official said on Thursday.

IBRA to unload 27% of assets under its control

IBRA to unload 27% of assets under its control JAKARTA (JP): The Indonesian Bank Restructuring Agency (IBRA) plans to unload 27 percent of the Rp 96 trillion (US$12.8 billion) in assets taken over from banks under its control this year. IBRA chairman Glenn Yusuf said at a dinner with journalists here on Wednesday that the agency would hold a roadshow next month to market the assets.

Agriculture budget 'too small'

Agriculture budget 'too small' JAKARTA (JP): The massive cut in the allotment for the agricultural sector in the 1999/2000 State Budget reflects the government's ignorance in identifying and taking advantage of the country's most promising sector, analysts have said. They added the allotment was too small to encourage agricultural activities.

Govt drafts new bill to monitor forex transfers

Govt drafts new bill to monitor forex transfers JAKARTA (JP): The government plans to strictly monitor the flow of foreign exchange by requiring all transfers of capital in and out of the country to be reported, according to a new draft law. The Foreign Exchange Traffic and Exchange Rate System Bill, a copy of which was obtained by The Jakarta Post, will be submitted by the government to the House of Representatives for deliberation early next month, a source said.

New age sparks millenarianism

New age sparks millenarianism By Marianus Kleden This is the first of two articles about a new age in the revived spirit of millenarianism. KUPANG, East Nusa Tenggara (JP): Millenarianism, a popular belief of the coming of a just king to free an oppressed nation, seems prevalent among Indonesians nowadays who look forward to the coming of a just leader.

Civil servants issue likely to be dropped from bills

Civil servants issue likely to be dropped from bills JAKARTA (JP): Two Cabinet ministers hinted on Thursday that the controversial issue of the political role of Indonesia's 4.1 million civil servants would likely be dropped from the political bills being deliberated by the House of Representatives, and regulated instead by a different piece of legislation.

Indonesia-Singapore to sign gas sales agreement today

Indonesia-Singapore to sign gas sales agreement today JAKARTA (JP): State oil and gas company Pertamina has said it will on Friday (today) sign a contract to supply Singapore's Sembawang Gas (SembGas) with natural gas from the West Natuna gas fields through a 640-kilometer underwater pipeline.