Archive: 26 January 1999
56 articles found
Tue, 26 Jan 1999, 00:00 WIB
No reason for flare-up in S'pore ties, KL says
No reason for flare-up in S'pore ties, KL says KUALA LUMPUR (Reuters): Malaysia said on Monday ties with Singapore had improved after hitting a bad patch last year and it saw no reason for another flare-up owing to a lingering dispute over a railway station. Malaysia's newly appointed Foreign Minister Syed Hamid Syed Albar said renewed discussion in Singapore's parliament last week on the railway station issue gave the impression that both countries were at loggerheads again.
Tue, 26 Jan 1999, 00:00 WIB
Govt review forest management
Govt review forest management JAKARTA (JP): The government is studying the possibilities of establishing an umbrella forestry organization or empowering existing state timber firms to represent the government in issuing forestry licenses to private firms. Forestry and Plantations Minister Muslimin Nasution said on Monday that any decision on the matter would be included in the forestry bill currently being drafted.
Tue, 26 Jan 1999, 00:00 WIB
Tax incentives offered to new investors
Tax incentives offered to new investors JAKARTA (JP): The Indonesian government is offering new investors in pioneering industries income tax holidays of up to eight years in a new bid to boost investment in the country. The additional tax facilities are laid out in Presidential Decree No.7/1999 and take immediate effect.
Tue, 26 Jan 1999, 00:00 WIB
Donor country support hinges on reform program
Donor country support hinges on reform program JAKARTA (JP): The international community will continue to provide financial support for Indonesia only if the government consistently implements its reform program within a framework of sound macroeconomic policy, the Consultative Group on Indonesia (CGI) asserted on Monday.
Tue, 26 Jan 1999, 00:00 WIB
RI bridge team wins world GP
RI bridge team wins world GP JAKARTA (JP): The Indonesian bridge team made a triumphant start to the 1999 season by winning the World Grand Prix Championship in Bombay, India over the weekend. Fielding its best pairs of Henky Lasut/Eddy Manoppo, Denny Sacul/Franky Karwur and Taufik Asbi/Noldy George, Indonesia beat China 152.3-143 in the final played over four sessions, 64 boards. The Chinese were represented by players who won the 1998 IOC Grand Prix in Lausanne, Switzerland.
Tue, 26 Jan 1999, 00:00 WIB
S. Korean steel giant scraps Indonesian facility expansion
S. Korean steel giant scraps Indonesian facility expansion SEOUL (AFP): South Korean steel giant Pohang Iron and Steel Co. (POSCO) on Monday unveiled a drastic cut in facilities at home and abroad to bolster its competitive edge. POSCO, the world's second largest steel producer, said it had scrapped joint-venture projects in Indonesia and China, along with a plan to build new steel mills in South Korea.
Tue, 26 Jan 1999, 00:00 WIB
Indonesia wants hihger royalties from Freeport
Indonesia wants hihger royalties from Freeport JAKARTA (JP): Minister of Mines and Energy Kuntoro Mangkusubroto said on Monday that the government was seeking to obtain higher royalties from copper and gold producer PT Freeport Indonesia. Kuntoro said the ministry was currently negotiating with Freeport, which is exploiting one of the world's largest copper and gold reserves in the Grasberg area in the easternmost province of Irian Jaya.
Tue, 26 Jan 1999, 00:00 WIB
RI mulls putting Xanana under house arrest
RI mulls putting Xanana under house arrest JAKARTA (JP): Responding to both local and international appeals, Minister of Foreign Affairs Ali Alatas said on Monday the government continued to study the possibility of house arrest for jailed East Timorese rebel leader Jose Alexandre "Xanana" Gusmao. The minister said the government had received calls from various parties to release Xanana and put him under house arrest. He is currently detained at Cipinang Prison, East Jakarta.
Tue, 26 Jan 1999, 00:00 WIB
Semblance of calm returns to Ambon
Semblance of calm returns to Ambon JAKARTA (JP): A semblance of calm returned on Monday to riot- torn Ambon, capital of the province of Maluku even as troops continued to patrol areas affected by days of communal clashes that killed at least 50 people last week.
Tue, 26 Jan 1999, 00:00 WIB
Regional currencies bank in trouble
Regional currencies bank in trouble SINGAPORE (Dow Jones): Fresh fears that China may devalue the yuan sparked a renewed sell-off in Southeast Asian currencies on Monday, pushing both the Singapore dollar and the Indonesian rupiah to their lowest levels against the U.S. dollar since early October. North Asian currencies, too, were hit hard, as foreign exchange traders rushed to buy U.S. dollars in reaction to an article in Sunday's China Daily newspaper that appeared to favor devaluation.
Tue, 26 Jan 1999, 00:00 WIB
Qantas shows the way to excitement and fun
Qantas shows the way to excitement and fun As the internationally recognized flag carrier of Australia, Qantas Airways has a long and proud tradition in getting both Australians and overseas guests to the land "down under". Now boasting 29 flights to Australia from Indonesia, Qantas continues to offer exciting tours to encourage more people to experience the magic of Australia.
Tue, 26 Jan 1999, 00:00 WIB
Megawati installs R&D staff to support candidacy
Megawati installs R&D staff to support candidacy JAKARTA (JP): Megawati Soekarnoputri has installed a number of prominent figures including Frans Seda in posts in her party's research and development center to prepare for her presidential candidacy.
Tue, 26 Jan 1999, 00:00 WIB
Japan trade surplus up 40% but seen peaking
Japan trade surplus up 40% but seen peaking TOKYO (Reuters): Japan's trade surplus jumped 40 percent to a record high of 13.99 trillion yen (US$122.72 billion) in 1998 and posted an unexpectedly large 14.4 percent rise in December as the weak domestic economy caused imports to slump. Economists say imports could well stay stuck in the doldrums, but the strong yen will help cap gains in the surplus in coming months by making Japanese exports more expensive overseas.
Tue, 26 Jan 1999, 00:00 WIB
Asian markets down on Chinese fears
Asian markets down on Chinese fears SINGAPORE (Agencies): Nervous Asian stock markets slid on Monday, shaken by speculation that China might devalue its yuan and by losses on Wall Street. The only major exception was Tokyo, where growing optimism over Japan's debt-laden banking sector steadied shares. The Nikkei 225 average closed up 0.38 percent at 14,208.81 as investors and pension funds scrambled for bargains.
Tue, 26 Jan 1999, 00:00 WIB
Criminals take refuge in damaged buildings
Criminals take refuge in damaged buildings JAKARTA (JP): Many deserted buildings, damaged or burnt during last May's riots, are being used by street criminals as their hideouts, a police officer said on Monday. Jakarta Police spokesman Lt. Col. Edward Aritonang said that a lot of street criminals, who operate at the city's major junctions extorting money from motorists, frequently fled to these buildings when chased by police officers.
Tue, 26 Jan 1999, 00:00 WIB
Floods hits W. Nusa Tenggara
Floods hits W. Nusa Tenggara MATARAM, West Nusa Tenggara: Three bridges were damaged, and 100 houses and 300 hectares of shrimp ponds in Sekotong subdistrict were inundated when floods hit the provincial capital here on Monday. Sekotong subdistrict chief Surapati said that several days of heavy rain had also caused landslides in neighboring villages. No casualties were reported. Surapati said the floodwaters had disrupted the daily lives of residents in the area. (25/29)
Tue, 26 Jan 1999, 00:00 WIB
Conversion Rates
Conversion Rates Bank Bali's conversion rates on Jan. 25, 1999: TT rates Bank notes rates Buying Selling Buying Selling Rp Rp Rp Rp U.S.
Tue, 26 Jan 1999, 00:00 WIB
Stock Exchange
Stock Exchange Stock prices on the Jakarta Stock Exchange (in rupiah) on Jan. 25, 1999: ----------------------------------------------------------- Shares Close Change Trading Volume ----------------------------------------------------------- Ades Alfindo 325 -75 309,500 AHAP Insurance 400 0 0 Alter Abadi 275 -25 530,000 Alumindo Light Metal 275 0 0 Alumindo Perkasa 125 0 0 Aneka Kimia Raya 200 -25 5,000 Aneka Tambang 1,425 -100 2,776,500 Anwar Sierad 100 0 0 Apac Centertex Corp.
Tue, 26 Jan 1999, 00:00 WIB
Laying the blame
Laying the blame Thailand, South Korea and especially Indonesia should not resort to complacency after the International Monetary Fund (IMF) admitted last week to errors in its handling of their economic crises. Rather than conveniently lumping part of the blame on the Fund, introspection is a much more fruitful tack for the three, serving as a reminder that their financial fiasco was first and foremost of their own making.
Tue, 26 Jan 1999, 00:00 WIB
Police detain provocateurs
Police detain provocateurs KUPANG, East Nusa Tenggara: The East Nusa Tenggara Provincial Police have arrested a number of people allegedly involved in rioting that gripped here on Nov. 30 and Dec. 1 last year, Antara reported on Monday. Police spokesman Major Sismantoro confirmed the arrests had been made but refused to reveal the identities of the people in detention. Provincial police chief Col.
Tue, 26 Jan 1999, 00:00 WIB
Myanmar leader to visit Thailand
Myanmar leader to visit Thailand BANGKOK (AFP): Myanmar junta leader Senior General Than Shwe will visit Thailand next month for talks with Thai Prime Minister Chuan Leekpai, a Thai official said on Monday. Than Shwe, accompanied by Myanmar Foreign Minister Win Aung, will discuss closer cooperation on the suppression of the drug trade and border problems, including recent naval clashes in the Andaman Sea.
Tue, 26 Jan 1999, 00:00 WIB
Britain underwrites exports
Britain underwrites exports LONDON (AFP): The British government on Monday moved to encourage small-scale trade with Indonesia with a pledge to underwrite export contracts, a year after private insurers pulled out in the face of economic and civil turmoil there. "Indonesia has traditionally been one of Britain's major trading partners.
Tue, 26 Jan 1999, 00:00 WIB
Govt to issue ruling on civil servants rights today
Govt to issue ruling on civil servants rights today JAKARTA (JP): The government is set to issue on Tuesday a decree that will "ensure" civil servants' neutrality. The ruling, a result of weeks of haggling among House factions, will end once and for all the deadlocked deliberation on the political bills in time for the Jan. 28 deadline.
Tue, 26 Jan 1999, 00:00 WIB
Potential exportiers ripped off
Potential exportiers ripped off By Inghie Kwik JAKARTA (JP): The business environment in Indonesia can be described as a giant jelly that traps wealthy businesspeople but sucks out any business ethics, integrity, honesty and morality that they possess. Once they get in the jelly, life becomes very convenient. But the problem is, the longer they stay in, the more contaminated they become. It does not matter whether they are local or foreign businesspeople, the jelly will overwhelm their senses.
Tue, 26 Jan 1999, 00:00 WIB
Changing our lifestyle
Changing our lifestyle The core of Indonesia's foreign debt problem is in reality not so different from that which affects debtor-creditor relations in general. The creditors (donor countries) begin by considering a number of aspects related to the debtor (receiving countries), such as the character of its government, its ability to pay back the loans, the condition of its economy, the collateral (if any) it can provide and the nation's credibility.
Tue, 26 Jan 1999, 00:00 WIB
Religious leaders call for unity and solidarity
Religious leaders call for unity and solidarity JAKARTA (JP): Prominent religious leaders and scholars gathered on Monday to mourn recent outbreaks of violence that had claimed many lives, and to make an appeal that it end with last week's unrest in Ambon. The group, consisting of at least 80 religious figures from across the country, met at the residence of Muslim leader Abdurrahman Wahid in Ciganjur, South Jakarta. They stated their support for Armed Forces (ABRI) Commander Gen.
Tue, 26 Jan 1999, 00:00 WIB
Telstra sticks by MGTI through tough year
Telstra sticks by MGTI through tough year The year 1998 was a tough year in many sectors of the Indonesian economy and telecommunications was no exception. Telstra, as a shareholder in the Central Java KSO operator, Mitra Global Telekomunikasi Indonesia (MGTI), has been working with its main partners Indosat, Widya Duta Infotel and NTT, to ensure that the company emerges from this difficult period in good shape and resumes its drive to provide the highest quality customer service.
Tue, 26 Jan 1999, 00:00 WIB
Rupiah plunges to 9,475 as stocks fall nearly 5 percent
Rupiah plunges to 9,475 as stocks fall nearly 5 percent JAKARTA (JP): The country's financial market succumbed on Monday, after one week off, with the rupiah plunging to an intraday low at 9,475 against the U.S. dollar and stocks tumbling nearly five percent.
Tue, 26 Jan 1999, 00:00 WIB
PPP casts session off course
PPP casts session off course JAKARTA (JP): The United Development Party (PPP) legislators on Monday abandoned a tough session in the deliberation of the political bills, which again saw factions undecided over issues of the Armed Forces' (ABRI) unelected House seats, electoral districts and the role of civil servants in politics. The PPP legislators were markedly absent in the meeting of the House Special Committee.
Tue, 26 Jan 1999, 00:00 WIB
ANZ Panin Bank, the opportunities ahead
ANZ Panin Bank, the opportunities ahead Many economists paint a gloomy picture for Indonesia in 1999. They say the country is at a political crossroads, and things will be extremely tough economically. The banking sector is in turmoil and yet remains the catalyst for any renewed business activity. What lies in store for banks in 1999? ANZ Panin Bank's President Director Ian Colley explained ANZ Panin has pursued a strategy directed at Corporate Banking and Treasury activities.
Tue, 26 Jan 1999, 00:00 WIB
Bank recapitalization: Waiting for miracles
Bank recapitalization: Waiting for miracles The government is trying to salvage the banking industry through a recapitalization program but economist Kwik Kian Gie anticipates the impossibility of its success. JAKARTA (JP): The government is most likely to fail to salvage the ailing banking industry through a recapitalization program, which is deceptive in nature. The measure is deceptive because it will introduce "make-believe" bonds that will earn "real" interest payments.
Tue, 26 Jan 1999, 00:00 WIB
Regents to get more say in state spending
Regents to get more say in state spending JAKARTA (JP): President B.J. Habibie on Monday issued a decree that will alter the long-standing centralization of power and give regional officials greater authority in major development projects. The ruling will come into effect on April 1.
Tue, 26 Jan 1999, 00:00 WIB
200,000 newcomers to enter city
200,000 newcomers to enter city JAKARTA (JP): The number of newcomers entering the capital along with millions of residents returning home after the Idul Fitri holiday is expected to reach 200,000, a fall from an estimated 225,000 who arrived here in the corresponding period last year, an official said on Monday. Sjahrin Lumban Toruan, who heads the City Population Agency, attributed the fall to the impact of the prolonged economic crisis.
Tue, 26 Jan 1999, 00:00 WIB
India-Indonesia trade and economic cooperation
India-Indonesia trade and economic cooperation Trade between India and Indonesia has grown significantly since the early 1990s. From around US$280 million in 1991, the volume crossed the $1 billion mark in 1996 to reach approximately $1.4 billion. However, due to the economic crisis in the region, trade has suffered a setback.
Tue, 26 Jan 1999, 00:00 WIB
Officials lured by car scam
Officials lured by car scam JAKARTA (JP): Many of the city's 265 subdistrict heads have received calls from unidentified parties asking the officials to send them Rp 3 million in exchange for a car, an official said on Monday. City secretary Fauzi Bowo said the callers only identified themselves as officials from the Ministry of Home Affairs.
Tue, 26 Jan 1999, 00:00 WIB
Indofood to change status to foreign firm
Indofood to change status to foreign firm JAKARTA (JP): Shareholders of food giant PT Indofood Sukses Makmur approved on Monday the sale of a majority stake to overseas interests, changing its status into that of a foreign investment company. New company president Eva Riyanti Hutapea said, however, that the extraordinary meeting failed to approve the company's proposal to obtain technical assistance from Nissin Food Products Ltd of Japan, one of its two new shareholders.
Tue, 26 Jan 1999, 00:00 WIB
Australia-RI relations stronger in storm of crisis
Australia-RI relations stronger in storm of crisis Political and economic changes put to the test the strongest of diplomatic relations. Governments come and go, leaders assumed to be assured lengthy terms in office suddenly find themselves ousted and the dynamics of relations shift inexorably. Being able to survive bumpy rides of change with ties intact, and improving, is proof of the depth of the relationship, believes Australian Ambassador to Indonesia John McCarthy.
Tue, 26 Jan 1999, 00:00 WIB
Cogeneration plant project free from collusion: Caltex
Cogeneration plant project free from collusion: Caltex JAKARTA (JP): Oil company PT Caltex Pacific Indonesia has denied that it had formed a partnership with a company partly owned by a foundation linked with former state oil and gas company Pertamina's president Faisal Abda'oe to develop a US$190 million cogeneration plant in Duri, Riau.
Tue, 26 Jan 1999, 00:00 WIB
Wiranto meets opposition to control unrest: Marzuki
Wiranto meets opposition to control unrest: Marzuki JAKARTA (JP): General Wiranto's meeting on Sunday with opposition figures including Abdurrahman Wahid and Amien Rais was part of the former's campaign to mobilize support in confronting "the pro-status quo elements" now wreaking havoc in the country, an observer says.
Tue, 26 Jan 1999, 00:00 WIB
Amien proposes ABRI has 15 House seats
Amien proposes ABRI has 15 House seats JAKARTA (JP): Amien Rais is again calling for the Armed Forces (ABRI) to be given only 15 unelected, nonvoting seats in the House of Representatives. Amien, the chairman of the National Mandate Party (PAN), conceded it was likely that House factions would agree to allocate 40 seats in the 1999/2004 House of Representatives to ABRI.
Tue, 26 Jan 1999, 00:00 WIB
Record set for rope jumping
Record set for rope jumping BANDUNG (JP): At 45 years old, Ashrita Furman showed he could rival the world's fittest athletes in a test of endurance after he skipped for over 130,000 beats here over the weekend. Furman, a Guinness Book of Records regular since 1979 who has 58 records to his name, demonstrated his rope jumping skills over a 24-hour period, finishing at 9 a.m. on Saturday. During the energy-sapping exercise, Furman took an hourly five-minute break to eat or drink.
Tue, 26 Jan 1999, 00:00 WIB
Warring villages asked to calm down
Warring villages asked to calm down WAIKABUBAK, East Nusa Tenggara: Governor Piet A. Tallo has asked the residents of two warring villages in Sumba to cease hostilities which first erupted here on Nov. 5 last year. "The trouble must end and the two tribes should be at peace," he said in a ceremony to mark a truce between the Loli and Wewewa tribes in Waikabubak on Monday.
Tue, 26 Jan 1999, 00:00 WIB
Military 'handcuffed' by fear of rights abuse
Military 'handcuffed' by fear of rights abuse JAKARTA (JP): The fear of being accused of violating human rights deters security personnel from forcefully handling unrest and acting on other crimes, a senior researcher from the state military think tank said on Monday.
Tue, 26 Jan 1999, 00:00 WIB
'RRI' receives bomb threat
'RRI' receives bomb threat JAKARTA (JP): Scores of officers from the National Police's bomb squad were hastily deployed to state Radio Republik Indonesia (RRI) in Central Jakarta following a bomb threat at the eight-story building on Monday evening. According to Central Jakarta Police's chief of detectives Maj. Budiono Sandi, the officers searched the building on Jl. Medan Merdeka Barat for hours, finding a strange object in a room of the building.
Tue, 26 Jan 1999, 00:00 WIB
Food prices fluctuate after festive season
Food prices fluctuate after festive season JAKARTA (JP): Prices of several basic food commodities in traditional markets have headed in different directions since the Idul Fitri holiday due to problems in supply. In the past two days, prices of beef, eggs and chili continued to go up at the city's major Cikini and Senen markets in Central Jakarta. But the cost of others, including chicken and vegetables, dropped slightly.
Tue, 26 Jan 1999, 00:00 WIB
Bakrie gets debt workout
Bakrie gets debt workout JAKARTA (JP): Conglomerate PT Bakrie & Brothers has reached an agreement with 300 foreign creditors to restructure its offshore debt, a news report said. Business Week reported on Saturday that based on a 7 Jan. agreement, Bakrie would swap debt for 80 percent of a holding company that would own shares in five of its key assets, including a 5.3 percent stake in the Iridium telecommunications group worth about US$100 million.
Tue, 26 Jan 1999, 00:00 WIB
Aceh deserves a rational settlement
Aceh deserves a rational settlement The shots echoing in Aceh signify for many the beginning of the end of reform in the province and a return to the past military operation zone status. Are these tears justified? In my opinion, the democratic movement is not yet doomed. What we are seeing is not a separatist conspiracy, but rather an enormous crisis of confidence and an unforgivable failure by the Armed Forces (ABRI) of all persuasions.
Tue, 26 Jan 1999, 00:00 WIB
Greenpeace warns against garbage
Greenpeace warns against garbage MANILA (AFP): Global environment watchdog Greenpeace International warned the Philippine government on Monday against using incinerators amid a garbage crisis. "No province or community should serve as a dump site or a toxic sacrifice zone for the disposal of metro Manila's garbage," Greenpeace toxics campaigner in Asia, Von Hernandez, said in a statement.
Tue, 26 Jan 1999, 00:00 WIB
Rates for tax payment, valid from Jan. 25 to Jan. 31
Rates for tax payment, valid from Jan. 25 to Jan. 31 U.S. dollar 1 Rp 8,400.00 Austrian schilling 1 750.20 Australian dollar 1 5,366.76 Belgian franc 1 255.90 Canadian dollar 1 5,481.60 Swiss franc 1 6,053.18 Deutschemark 1 4,965.42 Danish krone 1 1,310.53 French franc 1 1,573.72 Poundsterling 1 13,819.68 Hong Kong dollar 1 1,083.98 Italian lira 100 533.13 Japanese yen 100 7,349.08 Malaysian ringgit 1 2,210.24 Dutch guilder 1 4,965.42 New Zealand dollar 1 4,510.80 Norwegian krone 1 1,129.70...
Tue, 26 Jan 1999, 00:00 WIB
Photo exhibition at Erasmus Huis
Photo exhibition at Erasmus Huis JAKARTA (JP): The World Press Photo foundation will kick off an exhibition of photos depicting the world's most outstanding events of 1997 at Erasmus Huis on Jl. H.R. Rasuna Said in South Jakarta on Wednesday. The exhibition, which is being jointly held with the Suara Pembaruan evening daily, will display the winning photos of the World Press Photo's annual championship.
Tue, 26 Jan 1999, 00:00 WIB
Students to report police action to military
Students to report police action to military JAKARTA (JP): Two students from the Indonesian Christian University (UKI) plan to report city police officers to the Jakarta Military Command for wrongfully arresting them, the students' lawyer said on Monday. Hotma Timbul Hutapea, a member of the Student Advocating Team, said the students -- Rudi Pahala Simatupang and Hendi Karo-karo -- were wrongfully arrested on Dec. 8.
Tue, 26 Jan 1999, 00:00 WIB
TV today
TV today TVRI 5:30 a.m. Religious Teachings: Hikmah Pagi 6:00 Morning News 7:00 Children's Program: Lagu Anak Nusantara 7:30 TV Series 8:00 Music: Dendang Pagi 9:00 Music: Hiburan Keluarga 10:00 Interval 2:00 p.m.
Tue, 26 Jan 1999, 00:00 WIB
Banyuwangi regent facing the axe
Banyuwangi regent facing the axe SURABAYA: Maj. Gen. Ryamizard Ryacudu, the new chief of the East Java Brawijaya Military Command, said on Monday that Banyuwangi Regent Col. Turyono Purnomo could be replaced if the people so wished. "If the people no longer like the regent, he could be replaced," he said here on Monday. Residents believe Turyono is implicated in a killing spree in the regency which has so far claimed more than 150 lives.
Tue, 26 Jan 1999, 00:00 WIB
Conflicting strategies on CPO tax
Conflicting strategies on CPO tax JAKARTA (JP): Minister of Forestry and Plantations Muslimin Nasution said on Monday that the government should remove the export tax on crude palm oil (CPO) and its by-products to create a more stable environment for investors. Meanwhile, Minister of Industry and Trade Rahardi Ramelan said he had proposed that the current 60 percent export tax on CPO be cut to 40 percent beginning next month.
Tue, 26 Jan 1999, 00:00 WIB
Police not opposed to student rallies
Police not opposed to student rallies JAKARTA (JP): In principle, the city police do not oppose the students' plan to hold street rallies protesting against the government as long as the rallies are conducted according to existing regulations, an officer said on Monday. City police spokesman Lt. Col. Edward Aritonang told reporters that police would help the students voice their protests and, if possible, clear streets of traffic if the students wished to hold convoys.
Tue, 26 Jan 1999, 00:00 WIB
Mitsui's phenol plant in S'pore
Mitsui's phenol plant in S'pore SINGAPORE (AP): Japan's Mitsui Chemicals Inc. said Monday it will build a US$180 million phenol plant on Singapore's Jurong island, Singapore TV reported. Mitsui Chemicals, Japan's second-largest petrochemical concern, is set to establish a joint project venture, called Mitsui Phenol Singapore Ptd., in April 1999. The company will own a 90 percent stake in the venture, while a Japanese trading house Mitsui and Co. will hold the remainder.