Indonesian Political, Business & Finance News

Archive: 5 January 1999

48 articles found

33 immigration violators netted

33 immigration violators netted JAKARTA (JP): Immigration officers arrested 33 foreigners for immigration violations in separate raids in the capital in the past two days, an official said on Monday. Otong Hasan, an official of the Directorate General of Immigration, said the foreigners were arrested on Sunday and Monday at the Pejompongan and Kebon Kacang apartments in Central Jakarta and the Kelapa Gading housing complex in North Jakarta.

Nine killed, 22 hurt in Aceh military raids

Nine killed, 22 hurt in Aceh military raids JAKARTA (JP): Nine people died and at least 22 more were injured during military raids on alleged separatist groups in Aceh, military officers and hospital staff said on Monday. Lilawangsa Military Commander Col. Johnny Wahab told The Jakarta Post that the nine were killed during a shoot-out between the military and suspected members of a separatist movement in the villages of Kandang and Pusong in Lhokseumawe, North Aceh, on Sunday.

INDRA sets rupiah at 7,589

INDRA sets rupiah at 7,589 JAKARTA (JP): The Indonesian Debt Restructuring Agency (INDRA) has set the dollar purchase price at Rp 7,589 for indebted companies joining the agency's program in January. INDRA chairman Sumitro said the rate for January was based on the best dollar-rupiah moving exchange rate for December and a monthly inflation rate in the same month of 1.42 percent.

Bank Negara takes over MBF

Bank Negara takes over MBF KUALA LUMPUR (DPA): Malaysia's central bank, Bank Negara, said Monday it has assumed control of the country's leading finance company, MBF Finance Berhad, but stressed that the firm remained "solvent." In a statement, Bank Negara allayed fears of depositors by saying the government was guaranteeing all deposits and would meet all deposit obligations of MBF Finance.

Conversion Rates

Conversion Rates Bank Bali's conversion rates on Jan. 4, 1999: TT rates Bank notes rates Buying Selling Buying Selling Rp Rp Rp Rp U.S.

Schools closed by flooding in Malaysia

Schools closed by flooding in Malaysia PEKAN, Malaysia (AP): Heavy flooding from monsoon rains kept more than 11,000 students out of classes on Monday as schools shut indefinitely in an eastern Malaysian state. The closure meant an extended holiday break for students and teachers of some 45 schools, mostly near the worst-hit town of Pekan, in Pahang state, 450 kilometers east of Kuala Lumpur.

RP provinces put on alert

RP provinces put on alert MANILA (AP): Police put several provinces in the southern Philippines on maximum alert on Monday in an attempt to avoid more violence following a grenade explosion that killed at least 10 people and injured more than 70 others. Acting national police chief Roberto Lastimoso said no suspects had been identified in Saturday's explosion on Jolo island in Sulu province, a Muslim rebel stronghold.

Six kilograms of marijuana seized

Six kilograms of marijuana seized JAKARTA (JP): City police detectives seized six kilograms of marijuana in Depok, south of here, on Sunday, an officer said. Head of the Jakarta Police narcotics unit, Lt. Col. Abdullah, told reporters on Monday that one suspect, Irma Suganda, 42, was arrested during the police operation. Irma was allegedly a member of a drug ring that ran an operation linking Jakarta with Aceh and Medan in Sumatra.

Sugiono gets promotion in major reshuffle

Sugiono gets promotion in major reshuffle JAKARTA (JP): The Armed Forces (ABRI) announced a massive reshuffle on Monday, with Deputy Army Chief of Staff Lt. Gen. Sugiono being promoted to the post of ABRI Chief of General Affairs, replacing Lt. Gen. Fachrul Razi. Fachrul becomes secretary-general to the Ministry of Defense and Security, replacing Lt. Gen. (ret) Soeyono, who has reached the mandatory age of retirement, according to ABRI spokesman Maj. Gen. Syamsul Ma'arif.

Villagers run wild over scandal

Villagers run wild over scandal TANGERANG (JP): Hundreds of Tegal Kunir Lor villagers in Mauk district here, angered by a brewing sex scandal involving village head M. Hasan, went berserk on Monday and destroyed his office. They were provoked by a rumor Hasan impregnated an 18-year-old local woman. Tangerang police are questioning two people who allegedly provoked the crowd to destroy the office. Villagers visited the office on Monday morning to seek Hasan's explanation.

Stock Exchange

Stock Exchange Stock prices on the Jakarta Stock Exchange (in rupiah) on Jan. 4, 1999: Shares Close Change Trading Volume -------------------------------------------------------- Ades Alfindo 400 0 0 AHAP Insurance 400 0 0 Alter Abadi 325 0 0 Alumindo Light Metal 300 -25 196,000 Alumindo Perkasa 125 0 5,000 Aneka Kimia Raya 175 -25 29,500 Aneka Tambang 1,600 -25 1,322,000 Anwar Sierad 100 0 17,500 Apac Centertex Corp.

South Sulawesi floods force mass evacuation

South Sulawesi floods force mass evacuation JAKARTA (JP): About 7,300 residents of Ujungpandang were evacuated to higher ground in the South Sulawesi capital on Monday, with the death toll from the calamity rising to seven. Evacuations were also conducted in four surrounding regencies of Maros, Gowa, Pangkep and Barru, inundated following four days of incessant rain, said A. Jamaluddin, spokesman for the provincial administration.

Dharmala divests RP holding

Dharmala divests RP holding MANILA (Dow Jones): Indonesia's Dharmala Group has divested its entire stake in its Philippine flagship, Dharmala Philippines Inc., or DPI, the company said in a disclosure statement released by the stock exchange Monday. The disclosure said Dharmala Holdings (BVI) Ltd., Well Foundation Co. and Dharmala International Philippines Inc.

Two killed during attack in East Timor

Two killed during attack in East Timor DILI, East Timor (JP): Two members of a proreferendum group were killed on Sunday in an attack on a sentry post manned by armed civilian guards in Ainaro regency. Antara identified the victims as Julio of Maulo village and Renaldo of Suro village. Ainaro is 250 kilometers south of Dili. Col.

Soedjana leads faculty backing for student movement

Soedjana leads faculty backing for student movement By M.M.I. Ahyani BANDUNG (JP): Soedjana Sapiie, a professor at the Bandung Institute of Technology (ITB), has had to dispel public doubts about his sincerity in supporting the student reform movement. Early in 1997, he was chosen by his peers to chair a committee set up by ITB faculty to decide the college's stance on the political turmoil besetting the country.

Search continues for Pongkor landslide victims

Search continues for Pongkor landslide victims BOGOR (JP): Police are battling harsh terrain in the search for illegal miners believed trapped in Saturday's fatal landslide at the Pongkor gold mine, an officer said on Monday. Bogor Regional Police chief Col. Hari Setyabudhi told reporters that a special police rescue team complained of difficulties due to the rugged mountain location.

Japan remains largest importer of RI products

Japan remains largest importer of RI products JAKARTA (JP): Indonesia's exports to Japan dropped 29.56 percent to US$6.73 billion in the first nine months of last year, compared to $9.55 billion recorded over the same period in 1997. The Central Bureau of Statistics (BPS) announced on Monday that despite the fewer exports, Japan remained the biggest importer of Indonesian products, accounting for 18.06 percent of Indonesia's total exports during the period.

Where to go in Bandung:

Where to go in Bandung: Performances * Sundanese Traditional Drama: Banteng Ijo Rujak Polo, at Gedung Kesenian Rumentang Siang, Jl. Baranang Siang 1, Kosambi (Phone: 022 433562), 8 p.m., Dec. 9. * Puppet Show: Wisanggeni Lahir, narrated by Endang Taryana, at Gedung Kesenian Rumentang Siang, 9:30 p.m., Dec. 16. Music and Entertainment * Hotel Papandayan, Jl. Gatot Subroto No. 83 (Phone: 022 310799): - The Burangrang Lounge at 7 p.m. to 10 p.m.: Solo Jazz Piano, Tuesday to Friday.

Calculated temerity

Calculated temerity In your editorial of Dec. 29, 1998, you proposed Indonesia's university students as the pre-eminent candidates for "The Jakarta Post's men and women of 1998." I agree heartily. The students' perseverance, idealism, and courage have been remarkable, and their dynamic role in this country's current evolution is now a matter of record. I would suggest that another force has been of tremendous significance in this unfolding drama: the press, and the Post in particular.

Raid for spoiled food in Padang

Raid for spoiled food in Padang PADANG (JP): The West Sumatra administration is raiding food shops to locate spoiled food items packed in Idul Fitri gift packages. Idul Fitri falls on Jan. 19. The office of the Ministry of Health here said the raid was aimed at preventing a repetition of last year's incidents in which spoiled food in a number of gift packages was found to be inedible. Some of the food was poisoned, head of the office, Rasyidah Rasyid, said.

Essence of Islam

Essence of Islam From Bisnis Indonesia Although I am a non-Muslim, since last year's Ramadhan I have enthusiastically watched an Islamic spiritual program presented by Prof Dr. Alwi Shihab on ANteve (unfortunately he is not accompanied by Dr. Komarudin this year). The program discusses the essence of Islam universally.

Three detained, five sought in Poso riot

Three detained, five sought in Poso riot JAKARTA (JP): The police in Poso, Central Sulawesi have detained three suspects and are currently looking for five others believed to be behind the spate of recent riots, an official said on Monday as quoted by Antara. "The five suspects who were still at large, including Herman Praimo, were believed to have masterminded the recent bloody incidents," Poso Police precinct chief Lt. Col. Dedy Woeryandono said.

Students catapulted into controversy

Students catapulted into controversy JAKARTA (JP): The city police have uncovered a program to train protesters involving hundreds of students at a university in Tangerang, west of here, an officer said on Monday. Based on surveillance and evidence recovered, police believed that students participating in the program planned to attack security personnel deployed to secure antigovernment rallies, city police spokesman Lt. Col. Edward Aritonang told reporters.

Habibie ready to unveil his 1st budget today

Habibie ready to unveil his 1st budget today JAKARTA (JP): President B.J. Habibie is set to unveil his first draft budget to the House of Representatives (DPR) today amid simmering political tensions and a sagging economy. The President is scheduled to address the House plenary session at 10 A.M. to outline the budget for the 1999/2000 fiscal year, which begins on April 1. The House will then deliberate the draft budget and pass it into law.

PAL rehabilitation plan criticized by U.S. bank

PAL rehabilitation plan criticized by U.S. bank MANILA (Reuters): The U.S. Export-Import Bank, one of the 9,000 creditors and lessors of ailing Philippine Airlines Inc (PAL), has objected to the flag carrier's rehabilitation plan, documents obtained on Monday showed. "The plan as proposed is fatally flawed," law firm Sycip Salazar Hernandez and Gatmaitan, which represents Eximbank, said in a letter filed with the Securities and Exchange Commission (SEC). U.S.

RP death convict wins last-minute reprieve

RP death convict wins last-minute reprieve MANILA (AFP): In a dramatic decision on Monday just three hours before a convicted rapist was due to be put to death, the Philippine Supreme Court granted him an almost six-month stay of execution. The court order suspended the execution of Leo Echegaray until after June 15 in response to a petition filed by his lawyer last week asking for more time while legislators debate the death penalty.

Brawls remain top choice for dispute settlements

Brawls remain top choice for dispute settlements JAKARTA (JP): The capital is not a jungle. But in some cases it takes on the appearance of a real jungle where even a minor dispute erupts into a fight. One may speculate whether the kill-or-be-killed habit is characteristic of human beings in general or is in the nature of Jakartans as citizens of a metropolis.

Govt must get down to nitty-gritty on corruption

Govt must get down to nitty-gritty on corruption The government, under strong pressure by pro-reform demonstrators, is undertaking legal action against corrupt practices by some former government officials and business people. Economist Kwik Kian Gie considers its efforts are not serious.

RI's crude oil prices fall

RI's crude oil prices fall TOKYO (Dow Jones): Unofficial prices for Indonesian crude grades for December have all plummeted from official November levels, according to industry calculations released Monday. For most grades, price declines ranged from US$1.65 to $2.21 a barrel. Indonesia's state-owned oil company Pertamina has yet to approve the calculations as official Indonesian Crude Price figures.

Sport bodies told to prepare for Games qualifiers

Sport bodies told to prepare for Games qualifiers JAKARTA (JP): The National Sports Council (KONI) has urged sports organizations to begin preparations for qualifying events for the 2000 Olympics in Sydney, Australia, many of which will be held later this year.

Villagers to sue over DiCaprio film

Villagers to sue over DiCaprio film BANGKOK (AP): A group of Thai villagers announced on Monday that they intend to sue Twentieth Century Fox studios and others over what they say is the illegal destruction of a protected beach to film a Leonardo DiCaprio movie. Villagers have blasted producers of the film The Beach in public forums and staged sit-ins at the site of the filming, which has yet to begin.

Golkar sticks to guns on civil servants in politics

Golkar sticks to guns on civil servants in politics JAKARTA (JP): The ruling Golkar is holding out for the right of the country's four million public servants to join political parties, turning its back on mounting calls for the bureaucracy's neutrality in elections. Golkar deputy chairman Marzuki Darusman said on Monday that barring civil servants from becoming members or executives of political parties would create "problems".

Caltex's investment in RI

Caltex's investment in RI JAKARTA (JP): PT Caltex Pacific Indonesia, a joint venture between the United States energy companies Chevron and Texaco, has been investing an average of US$400 million per year in Indonesia to support its oil and gas operations here. The senior vice president of PT Caltex, J.

Moerdiono gives testimony in $9.3m corruption case

Moerdiono gives testimony in $9.3m corruption case JAKARTA (JP): After having "disappeared" for months following the resignation of president Soeharto, former minister/state secretary Moerdiono turned up again on Monday. This time he appeared not for a political statement but to give his testimony at the Central Jakarta District Court in the US$9.3 million corruption case involving the construction of the Taman Kemayoran condominium block.

Violence: A crime against humanity

Violence: A crime against humanity By Mochtar Buchori JAKARTA (JP): The increasing prevalence of violence in our society made me wonder whether Arthur C. Clarke is right after all in speculating that future historians will refer to the 20th century as the "Century of Torture".

Three tourists die in Bali

Three tourists die in Bali DENPASAR: Three tourists were found dead separately in Denpasar as of Monday. They were nationals of Croatia, Japan and Germany, Antara reported Monday. Two were reportedly victims of accidents. The body of Croatian Michael Petter, 32, was found hanging from the back door of his hotel room in Kuta Beach on Monday. It was believed that he had committed suicide, police said. Spokesman at the Bali Police Headquarters Maj. Y.

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 Variety Show 9:00 Music 10:00 Interval 2:00 p.m.

BI holds off on adding euro to reserves

BI holds off on adding euro to reserves JAKARTA (JP): Indonesia's central bank will not immediately diversify its external reserves to include the new euro currency and reduce U.S. dollar holdings, according to Bank Indonesia (BI) director Miranda Goeltom. Miranda said on Monday that although the value of the euro had the potential to strengthen against the dollar, BI would make extensive calculations before including the euro in its reserves. "We will not simply follow the prevailing views.

Redefining multicultural education

Redefining multicultural education By A. Chaedar Alwasilah BANDUNG (JP): The social unrest, conflicts with religious overtones and political uncertainties which are blighting the country indicate that Indonesians are still immature in running their nation. They are still in a "childhood" stage of nation building, characterized by weak bureaucracy and governance, public mistrust of the government and suspicion of the Armed Forces.

Scavengers turn violent after ban on looting

Scavengers turn violent after ban on looting JAKARTA (JP): Hundreds of people attacked vehicles and extorted money from motorists in North Jakarta after they were barred from stripping construction materials from a deserted auto assembly plant on Monday. The people, most of whom were scavengers and used goods vendors, became enraged after security officers prevented them from collecting steel and other construction materials from the 10 warehouses and two office buildings at the site on Jl.

Ramadhan time for Jakarta

Ramadhan time for Jakarta Tuesday Maghrib 6:14 p.m. Wednesday Imsak 4:11 a.m. Subuh 4.21 a.m.

A poor example

A poor example Everything is relative, so the popular saying goes. What is a luxury item to one person -- like a Rp 300 million late model imported German BMW 318i, for example -- may be a mere trifle to another. Drawing from this line of reasoning, Attorney General Andi M. Ghalib's recent presentation of such cars to several of his deputies is entirely understandable.

Rupiah steady against dollar, shares down

Rupiah steady against dollar, shares down JAKARTA (JP): The rupiah survived the first trading day of the new year almost unchanged against the U.S. dollar, but only after falling to an intraday day low of 8,100, while stock prices weakened slightly, currency dealers and stockbrokers said.

Bank Mandiri merger to be completed by May

Bank Mandiri merger to be completed by May JAKARTA (JP): The president director of Bank Mandiri, Robby Djohan, plans to complete the merger process of the four state banks into the institution he now heads by May instead of the original target date of sometime in 2000, Antara reported. State Minister of the Empowerment of State Enterprises Tanri Abeng was quoted by the news agency as saying on Saturday that "two years is too long" for the merger process.

Organda asks for security to be limited at terminals

Organda asks for security to be limited at terminals JAKARTA (JP): To curb the practice of collecting illegal levies and to provide reasonably priced bus tickets to Idul Fitri travelers, the city authority should first limit the number of security forces deployed at bus terminals, an executive of the Organization of Land Transportation Owners (Organda) said.

Euro 'new base' for Asian bond issuers

Euro 'new base' for Asian bond issuers HONG KONG (Reuters): The advent of the euro will open a new source of funding for Asian borrowers, but analysts said it could take some time before the region's bond issuers start tapping the market. "In time, the euro-denominated debt market could become almost as important as the U.S. dollar market, given the sheer size of pension funds...and that will open up a whole new debt market for Asia," said Raja V, head of fixed income research at BA Asia.

Asian central banks seen adding euro to reserves

Asian central banks seen adding euro to reserves TOKYO (Reuters): Major holders of external reserves such as Taiwan and China, as well as other Asian central banks, are expected to diversify their reserves to include the euro while trimming U.S. dollar holdings, analysts say. As holders of about 40 percent of the world's reserves, Asian central banks have looked forward to the birth of the euro since regional currencies pegged to the U.S.

RI awaits China's report on Tansil

RI awaits China's report on Tansil JAKARTA (JP): Indonesia is waiting for China to respond to a request to verify the whereabouts of Eddy Tansil, an escaped convict who reportedly owns a brewery in the country. Minister of Foreign Affairs Ali Alatas said he had sent a letter to the government of the People's Republic of China but had yet to receive a response. He was speaking after appointing Adian Silalahi as chief of the ministry's research and development center, replacing Johan Syahperi.