Indonesian Political, Business & Finance News

Archive: 6 January 1999

51 articles found

Market reacts positively to new budget

Market reacts positively to new budget JAKARTA (JP): The local bourse reacted positively to the 1999/2000 zero-growth State Budget announced by President B.J. Habibie early on Tuesday, with blue chips gaining ground in moderate trading. The rupiah also perked up on news of the conservative budget, rising to Rp 7,825 against the U.S. dollar from Rp 7,925 at the close of the previous day's trading.

30 officials being looked at for roles in vehicle scam

30 officials being looked at for roles in vehicle scam JAKARTA (JP): Thirty officials of the city supplies office are currently under scrutiny for their alleged involvement in marking up the number of city-owned vehicles in the city budget thus causing the administration a loss of Rp 16 billion, an official said on Wednesday.

Eight children die of hunger in Banjarmasin

Eight children die of hunger in Banjarmasin JAKARTA (JP): Eight severely undernourished children have died in a hospital in Banjarmasin, South Kalimantan, over the past six months, a doctor says. Hasan Zain of Ulin Public Hospital said in Banjarmasin on Tuesday that dozens of children were admitted for various hunger- related diseases between May and December 1998, many of them already in a critical condition. He did not identify the children or their places of origin, Antara said.

Poor Jakartans get aid from Malaysia

Poor Jakartans get aid from Malaysia JAKARTA (JP): The Malaysian government on Tuesday donated foodstuffs for 74,900 poor Jakartans in an expression of solidarity between the neighboring countries. The donation of 749,050 kilograms of rice, 11,580 bottles of cooking oil and 10,000 kilograms of sugar was symbolically handed over by Malaysian Ambassador Zainal Abidin to the city's five mayors in a ceremony at City Hall.

Corporate restructuring toward growth: 'C' curve

Corporate restructuring toward growth: 'C' curve By Bernd Waltermann JAKARTA (JP): During this period of reshaping Indonesia's companies and its economy, many executives look for lessons from international experience on corporate restructuring to guide their own management agenda. One set of useful lessons on corporate restructuring comes from the United States and is illustrated in what The Boston Consulting Group (BCG) calls the "C" curve.

Syarwan, Akbar split over civil servants

Syarwan, Akbar split over civil servants JAKARTA (JP): There is neutral, and then there is neutral when it comes to the role of civil servants in politics. Two ministers were split on Tuesday over President B.J. Habibie's instruction that the state's 4.1 million civil servants stay out of politics. Minister of Home Affairs Syarwan Hamid and Minister/State Secretary Akbar Tandjung aired conflicting opinions over President B.J.

Net international reserves tumble

Net international reserves tumble JAKARTA (JP): Bank Indonesia announced on Tuesday that its net international reserves dropped by US$374 million to $14.1 billion as of Dec. 31 from the Dec. 23 level of $14.43 billion. The central bank said in its weekly report that the decrease was due to repayment of part of the government's foreign debt and the payment of a quarterly contribution to the International Monetary Fund (IMF).

Lockheed takes 30% stake in Asia Cellular Satellite

Lockheed takes 30% stake in Asia Cellular Satellite JAKARTA (JP): PT Pasifik Satelit Nusantara (PSN) announced on Tuesday the addition of the United States aerospace, defense and telecommunications giant Lockheed Martin Global Telecommunications as a major equity participant in PT Asia Cellular Satellite (ACeS).

A flexible budget needed to respond to changes

A flexible budget needed to respond to changes The government presented on Tuesday its draft budget for the 1999/2000 fiscal year. It balances at Rp 218.2 trillion (US$29 billion), a 17.3 percent drop from the current budget. Pande Raja Silalahi discusses the budget's value and its potential impact on the economy. Question: What do you think of the budget proposed by President B.J. Habibie before the House of Representatives on Tuesday?

Indonet responds

Indonet responds Referring to Ms. Donna K. Woodward's letter "The service people" of Dec. 31, 1998, Indonet management would like to apologize for the level of service that did not meet Ms. Woodward's expectations. Based on subsequent e-mail and discussions with Ms.Woodward, Indonet management will make improvements in the Medan operations, both in technical as well as personnel quality.

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 8:00 Music 9:00 Interval 2:00 p.m.

Fire guts blood transfusion unit

Fire guts blood transfusion unit JAKARTA (JP): A fire gutted the Indonesian Red Cross' three- story blood transfusion unit in South Jakarta on late Monday. No fatalities were reported in the fire on Jl. Haji Joe in Jagakarsa, but a source said that material losses could reach as high as US$2.75 billion because most of the equipment lost in the fire was purchased with US currency. H.M.

Govt told strict monitoring of budget funds required

Govt told strict monitoring of budget funds required JAKARTA (JP): Businessmen, analysts and legislators hailed the government's 1999/2000 draft budget which puts a priority on the sectors and people that have been hit the hardest by the current economic turmoil, while also calling for tight monitoring of budget spending in order to avoid leakage.

Teenagers arrested for theft of side mirrors

Teenagers arrested for theft of side mirrors JAKARTA (JP): Police have arrested 10 teenagers for their alleged involvement in a series of street crimes at major traffic lights, Jakarta police spokesman Lt. Col. Edward Aritonang said on Tuesday. Aritonang said that the 10 were all caught red-handed attempting to remove rearview mirrors of luxury cars on Monday. "Our detectives will continue intensifying raids against such amateur street criminals as their number is growing," he said.

Conversion Rates

Conversion Rates Bank Bali's conversion rates on Jan. 5, 1999: TT rates Bank notes rates Buying Selling Buying Selling Rp Rp Rp Rp U.S.

FIFA suspends Cameroon

FIFA suspends Cameroon ZURICH (AFP): FIFA on Monday suspended Cameroon from all international competition for an indefinite period following a ticketing scandal which surfaced at the World Cup in France. "FIFA is forced to suspend the Cameroon Federation (Fecafoot) with immediate effect and for an indefinite period," FIFA said in a statement. FIFA accuses Fecafoot of not applying an emergency plan to deal with the ticketing scam.

Valuation in time of economic crisis

Valuation in time of economic crisis By Willson Kalip JAKARTA (JP): We have all witnessed and experienced the dramatic changes over the past one year. These changes involved a drastic economic downturn created by a sharp depreciation of the rupiah, political and social turbulence, and a change in the leadership of the country. These changes have affected everyone, in all walks of life. In this economic crisis, demand for all property types has shrunk drastically.

15-day open house proves followers' respect for Gus Dur

15-day open house proves followers' respect for Gus Dur JAKARTA (JP): The around 1,000 visitors to Abdurrahman Wahid's residence in Ciganjur, South Jakarta, during his 15-day "open house" program bore witness to the large number of people who looked up to him as their leader.

Death toll rises to 17 in Aceh military raids

Death toll rises to 17 in Aceh military raids JAKARTA (JP): Fatalities from military raids on alleged separatist targets in Aceh rose to 17 as eight more people died on Monday and early Tuesday, human rights activists and hospital staff said on Tuesday.

SEA Games consortium criticized

SEA Games consortium criticized JAKARTA (JP): The Gelora Senayan sports complex management board expressed disappointment on Tuesday with the 19th Southeast Asian (SEA) Games underwriting consortium for failing to live up to its commitment to pay off its outstanding debts.

West Natuna gas contractors ask for contract extension

West Natuna gas contractors ask for contract extension JAKARTA (JP): Oil and gas contractors grouped in the West Natuna consortium have asked the government to extend their production sharing contracts to secure enough earnings from their gas sales to Singapore.

Crowds force police to release detainees

Crowds force police to release detainees PADANG: Two thousand Muaro Paneh dwellers attacked the Solok regency police headquarters, demanding the release of nine detainees on Monday. The police had arrested them for gambling. The suspects, said to be residents, were gambling while waiting for the predawn breakfast on Sunday in Koto Kaciak village, Muaro Paneh, 60 kilometers from Padang. Following the arrest, rumors spread that the suspects were tortured, Lt. Col.

Police arrest 51 truck robbers

Police arrest 51 truck robbers SEMARANG: Police have arrested 51 people suspected of truck robberies along the Central Java north coast, said Central Java Police chief Maj. Gen. Nurfaizi. "They were arrested after robbing trucks which carried basic needs," Nurfaizi said. Nurfaizi also ordered his personnel to shoot looters on the spot, in line with orders from the National Police that looters or rioters were to be shot if they were endangering others.

Ramadhan time for Jakarta

Ramadhan time for Jakarta Wednesday Maghrib 6:15 p.m. Thursday Imsak 4:12 a.m. Subuh 4.22 a.m.

Aceh craves justice

Aceh craves justice Aceh, and Lhokseumawe in particular, which enjoyed a period of peace after the Military Operations Region (DOM) status was lifted from the province, is once again in the grip of tension. The region resembles a land at war. Roads are closed, helicopters buzz overhead and soldiers with suspicion in their eyes stand on guard at road corners.

The trial must go on: Military prosecutors

The trial must go on: Military prosecutors JAKARTA (JP): The trial of 11 elite soldiers charged with abducting political activists last year reopened on Tuesday, with the military prosecutors rebutting defense arguments that the court was not qualified to try the defendants. In the second session on Dec.

Marijuana crop seized in Bandarlampung

Marijuana crop seized in Bandarlampung BANDAR LAMPUNG: Police have seized 100 kilograms of marijuana planted on hills in South Lampung during a raid,Antara reported. They also arrested three people suspected of distributing and growing the plants. Bandar Lampung Police chief Lt. Col. TMB Siahaan, who led the raid involving some 40 police officers of Bandar Lampung and South Lampung, said the suspects were being detained at the Telukbetung Selatan Police station.

Habibie's budget

Habibie's budget President B.J. Habibie's speech outlining the government's spending plans in the House of Representatives on Tuesday was exceptionally long for a bare-bone budget that essentially offers little to stimulate Indonesia's depressed economy.

More bodies found in Pongkor landslide

More bodies found in Pongkor landslide BOGOR (JP): Five more bodies of illegal miners were recovered from the debris of Saturday's fatal landslide at the Pongkor gold mine here, raising the death toll from the incident to 14, according to a report from the local district military command. The five victims were identified as Marda, a resident of Cikoneng in Lebak, Jainan from Lebak, Mamat from Cipayung, Markomad from Sukabumi and Usep from Tasikmalaya, the military announced on Tuesday.

Legislators must be proactive

Legislators must be proactive From Sinar Pagi A legislator of the Jakarta Regional House of Representatives (DPRD) said on TV that he would go on strike if their demand addressed to the Jakarta administration to close down gambling dens and other immoral establishments was not met. The law clearly prohibits businesses that provide gambling and other immoral practices. The proposal by the legislator should be seen as an ultimatum to the Jakarta administration, in this case the governor.

Bambang defends program for bank recapitalization

Bambang defends program for bank recapitalization JAKARTA (JP): The government has defended its plan to set aside Rp 18 trillion (US$2.25 billion) of the 1999/2000 state budget to recapitalize the country's beleaguered banks, saying it was the least the country could do to help revive the banking sector. Finance Minister Bambang Subianto said on Monday night the funds were crucial in freeing the country from the banking crisis that had been eating up the economy for over a year.

City to host Idul Fitri bazaars

City to host Idul Fitri bazaars JAKARTA (JP): The city administration has called on Jakarta's entrepreneurs to set up stalls at special bazaars organized in the city's five mayoralties in the run-up to Idul Fitri. Jaya Sukma, an executive of the Small-Scale Entrepreneurs Association (GUSK), said that street vendors, cooperatives, companies and other traders were welcome to register at the association's office at the City Hall from Tuesday this week.

Are the mediations you are taking really safe?

Are the mediations you are taking really safe? By Rita A. Widiadana JAKARTA (JP): With the country still in the throes of the economic crisis, most people cannot afford to visit the doctor. The cost of medical treatment and prescription drugs has risen by 100 percent to 300 percent over the past few months, prompting more and more people to look for alternative medication, nonprescription drugs and traditional herbs.

Stock Exchange

Stock Exchange Stock prices on the Jakarta Stock Exchange (in rupiah) on Jan. 5, 1998: Shares Close Change Trading Volume -------------------------------------------------------------- Ades Alfindo 400 0 20,000 AHAP Insurance 400 0 0 Alter Abadi 300 -25 12,500 Alumindo Light Metal 325 25 46,500 Alumindo Perkasa 125 0 0 Aneka Kimia Raya 175 0 0 Aneka Tambang 1,675 75 2,376,000 Anwar Sierad 100 0 0 Apac Centertex Corp.

Telkom collects on overdue bills

Telkom collects on overdue bills JAKARTA (JP): The South Jakarta office of state-owned telephone company PT Telkom recovered Rp 801 million (US$106,800) in outstanding telephone bills last year, an official of the firm said on Monday. The amount was collected from 423 customers encountering problems paying their bills, Rizal Saat, head of the office, was quoted by Antara as saying. The number of delinquent telephone customers reached 2,300 last year, he said, which affected the company's income.

South Sulawesi flooding kills 8

South Sulawesi flooding kills 8 UJUNGPANDANG, South Sulawesi: At least one more man has died in widespread floods striking the province since Saturday, bringing the death toll to eight and severely disrupting public services. Rescue workers identified the victim as Umar Dg. Ngeppe of Takalar. No other details were available. As of Tuesday afternoon, the regencies of Barru, Pangkep, Maros, Soppeng, Gowa and Takalar were still inundated.

Floods may cut supplies of palm oil

Floods may cut supplies of palm oil KUALA LUMPUR (Reuters): Palm oil output in Malaysia, the world's largest producer, is expected to fall sharply this month due to floods triggered by heavy monsoon rains, plantation sources said on Tuesday. The northeast monsoon normally starts in mid-November and ends the following March. The Meteorological Services Department said they expected the rains to ease in the next week. "Basically, we do not expect continuous rains like what we saw lately.

Reform starts with yourself

Reform starts with yourself I read with great interest Pak Habibie's rhetorical question "What's wrong with the nation?" on the front page of the Jan. 2 edition of The Jakarta Post along with several recent letters to the editor regarding poor customer service. Having lived and worked throughout Indonesia for six years, I often ask myself the same question.

Students issue defiant new year statement

Students issue defiant new year statement JAKARTA (JP): Students from Java, Lampung and Bali pledged on Tuesday they would continue with demonstrations this year as a way to keep up pressure on the government.

General accused of inciting hatred

General accused of inciting hatred JAKARTA (JP): A group formed from seven Muslim organizations on Tuesday demanded the Jakarta Police summon Maj. Gen. (ret) Theo Syafei for allegedly spreading groundless information and hatred against Islam. A leader of the Islamic Defender Association, Margiono, said the group would not file suit against the former chief of the Udayana military command, but leave it to police to take action.

Police arrest 4 suspects in Saturday's bombing

Police arrest 4 suspects in Saturday's bombing JAKARTA (JP): Security authorities have arrested at least four people in connection with last Saturday's bomb explosion at a department store on Jl. H. Agus Salim in Central Jakarta, a reliable source said on Monday. The source, who is close to the investigation, said those now in custody included two active servicemen from one of the Armed Forces' special forces and two civilians, one of whom was female.

Junior shuttlers set for SEA Games debut

Junior shuttlers set for SEA Games debut JAKARTA (JP): The Badminton Association of Indonesia plans to field juniors in the Southeast Asian (SEA) Games in Brunei Darussalam in August. The association's deputy chief of athletes development, Hadi Nasri, told reporters on Tuesday that the organization would bring up the plan in discussion with the National Sports Council soon. "It remains an idea but we hope the council will understand.

President worried about press freedom

President worried about press freedom JAKARTA (JP): President B.J. Habibie expressed his concern over what he believed was abuse of press freedom on Tuesday, which he said had reached an alarming level. He acknowledged the rapid growth of both the international and local media, the latter as the result of greater freedom obtained through the reform movement, before going on to cite that exaggerated and imbalanced news reports could cause confusion and public unrest.

Golkar wants to maintain ABRI's support

Golkar wants to maintain ABRI's support JAKARTA (JP): The dominant party Golkar begged on Tuesday that the powerful Armed Forces (ABRI) reconsider its expressed stance of no longer supporting any political parties, including Golkar, in the coming polls. "The ties between Golkar and ABRI are a historical fact.

Habibie unveils 'survival' budget

Habibie unveils 'survival' budget JAKARTA (JP): President B.J. Habibie on Tuesday unveiled the draft of the 1999/2000 State Budget, devised for the extraordinary conditions of worsening fortunes of the business sector and depressed global oil prices. The zero-growth budget relies heavily on foreign loans because prices of traditional revenue-earner oil are projected to remain at record lows.

Current account surplus set to drop to $1.3 billion

Current account surplus set to drop to $1.3 billion JAKARTA (JP): Indonesia is projected to post a lower current account surplus of US$1.3 billion in the 1999/2000 fiscal year compared to the $4.5 billion estimated for the current fiscal year ending in March 1999. The lower current account surplus will be caused by an increasing deficit in services due to rising imports, according to a government document detailing the 1999/2000 state budget draft.

Stolen taxi abandoned

Stolen taxi abandoned JAKARTA (JP): A group of men robbed a Blue Bird taxi driver in East Jakarta on Monday and made off with his taxi, later abandoning the vehicle after it ran out of gas. Police found the taxi near a toll gate in the Cikopo area in Karawang, West Java, at about 11:45 p.m. on Monday, the Antara news agency reported. No details on the number of robbers or the identity of the driver were available.

Opposition leader arrested in KL

Opposition leader arrested in KL KUALA LUMPUR (AFP): Malaysian opposition leader Syed Husin Ali and his wife have been arrested along with eight others, following protests over the demolition of squatter areas, his party said on Tuesday. Syed Husin, who heads the tiny Malaysian People's Party, was detained after he visited the squatter area in Ampang on the outskirts of the capital, the party said in a statement.

Proof against Khmer leaders varies

Proof against Khmer leaders varies PHNOM PENH (Agencies): Direct evidence exists to implicate Khmer Rouge leader Nuon Chea in mass killings in the 1970s but cases against two others, Khieu Samphan and Ieng Sary, may be more difficult, a leading scholar said on Tuesday.

Comrades protecting Khmer Rouge leaders

Comrades protecting Khmer Rouge leaders By David Brunnstrom PHNOM PENH (Reuters): The return of two top Khmer Rouge defectors to a town controlled by their old comrades means the Cambodian government would have to use military force if it wants them back to stand trial for genocide, analysts say. Human rights groups and Cambodia's main pro-democracy organization have slammed Prime Minister Hun Sen for not arresting Khieu Samphan and Nuon Chea after bringing them to Phnom Penh last week.

Main streets lack cleanliness

Main streets lack cleanliness From Neraca Main streets like Jl. Kebon Sirih, the Farmers' Statue traffic circle and Jl. Menteng Raya have lost their attraction with their accumulated dirt. Both the streets and the greens are neglected and in need of cleaning. On Jl. Kebon Sirih many decorative plants are withering and garbage is everywhere. The Jakarta City Cleanliness Agency seems to have lost any interest in maintaining the areas.