Indonesian Political, Business & Finance News

Archive: 8 January 1999

52 articles found

Acehnese separatist leader still on the loose: Military

Acehnese separatist leader still on the loose: Military By Budiman Moerdijat LHOKSEUMAWE, North Aceh (JP): The suspected leader of the Free Aceh separatist movement, Ahmad Kandang, was still at large and believed to be hiding under the protection of Kandang villagers, the military said here on Thursday. Lilawangsa Military Commander Col.

S&P upgrades RP outlook

S&P upgrades RP outlook NEW YORK (AFP): The U.S. agency Standard and Poor's on Wednesday raised its outlook on the Philippines' long-term credit rating from negative to stable, citing continued export growth and financial reform. At the same time it maintained its long- and short-term assessments on the country's local and foreign currency debt ratings.

Stocks surge 7.2% on Wall Street's rally

Stocks surge 7.2% on Wall Street's rally JAKARTA (JP): Share prices in the local stock market rallied for a third consecutive day on Thursday, rising 7.2 percent due to a persistent inflow of fresh offshore funds, stockbrokers and analysts said. However, the beleaguered rupiah remained stagnant, closing unchanged at 7,950 against the U.S. dollar in very thin trading despite a general strengthening of regional currencies, dealers said.

TV today

TV today TVRI 5:30 a.m. Religious Teachings: Hikmah Pagi 6:00 Morning News 6:45 Healthy and Fresh 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.

Five sports top priority for Olympics

Five sports top priority for Olympics JAKARTA (JP): The National Sports Council (KONI) picked five sports on Thursday as priorities for the 2000 Olympics in Sydney. KONI chairman Wismoyo Arismunandar said badminton, boxing, taekwondo, weightlifting and windsurfing would be the focus of training efforts, based on the national athletes' performances during the 13th Asian Games in Bangkok last month.

Bomb hoax at Tangerang store

Bomb hoax at Tangerang store TANGERANG (JP): The mayoralty on Thursday received its first bomb threat this year when a shopping center in Ciledug district was told by an anonymous caller that an explosive device had been planted at the site. Like the three bomb threats in neighboring Jakarta the previous day, the threat at the Columbia shopping center also turned out to be hoax. According to police, the mysterious call was received by Herry Sulistio, an employee at the store, at about 11 a.m.

Election volunteers now in 22 provinces

Election volunteers now in 22 provinces JAKARTA (JP): The Independent Election Monitoring Committee (KIPP) now has volunteers in 62 cities in 22 provinces, its secretary general, Mulyana W. Kusumah, said on Thursday. Mulyana told The Jakarta Post that he could not give the total number of volunteers because registration was still in progress. In September, Mulyana told reporters that the committee, first set up to monitor the 1997 elections, had 9,000 volunteers in 47 cities in 14 provinces.

Where to go in Jakarta:

Where to go in Jakarta: Exhibitions * Photo Exhibition: Dari Lengser Sampai Semanggi, at Galeri Foto Jurnalistik Antara, Jl. Antara No. 59 Pasar Baru, Central Jakarta (Phone: 3458771), 11:30 a.m. to 7:30 p.m., until Jan. 14. * Painting Exhibition: Dari Mata Pena Menulis Makna, by Boyke Aditya Krishna, at Galeri Milenium, Blok B-23, Jl. R.S. Fatmawati No. 15, South Jakarta (Phone: 7507828), Monday to Saturday, 10 a.m. to 8 p.m., Sunday, 10 a.m. to 4 p.m., until Jan. 20.

Hundreds involved in East Jakarta street brawl

Hundreds involved in East Jakarta street brawl JAKARTA (JP): Hundreds of youths were involved in a street brawl along Jl. Matraman in East Jakarta which left dozens of people injured on Thursday. No fatalities were reported, but at least 14 people were taken to Mitra Keluarga Hospital and Cipto Mangunkusumo General Hospital for medical treatment. Stones were thrown and at least two police motorcycles were burned by the angry mob during the commotion.

Alms must be managed professionally: Habibie

Alms must be managed professionally: Habibie JAKARTA (JP): President B.J. Habibie on Thursday called for more transparent and professional management of zakat (obligatory alms for Muslims) as well as infaq and shodaqoh (voluntary alms) in a bid to better fulfill their purpose of helping the needy.

PLN lit up by loss of US$756 million

PLN lit up by loss of US$756 million JAKARTA (JP): State electricity company PT Perusahaan Listrik Negara (PLN) on Wednesday announced an unaudited loss of at least Rp 5.9 trillion (US$756 million) for 1998, up from Rp 579 billion in 1997. "The figures have yet to be audited and do not take foreign exchange losses into account," PLN president Adhi Satriya was quoted by Antara as saying at a breaking of the fast meal at the company's headquarters.

Ginandjar to visit Tokyo to seek financial help

Ginandjar to visit Tokyo to seek financial help JAKARTA (JP): Coordinating Minister for Economy, Finance and Industry Ginandjar Kartasasmita said on Thursday that he would meet with Japanese government officials on July 17 to seek more external financing to help plug the 1999/2000 budget deficit. He told reporters after meeting President B.J. Habibie that he would hold discussions with Prime Minister Keizo Obuchi about the so-called Miyazawa Plan and other forms of assistance.

Barbiturate haul in Manado

Barbiturate haul in Manado MANADO, North Sulawesi: North Sulawesi Police seized about 8,200 nipam pills, a form of barbiturate, in Tuminting, Manado, Antara reported. North Sulawesi Police chief Col. Marsono said on Wednesday the pills were found in the house of a woman, identified as NP, on Monday. "We received information after the police raided the place of JP, an alleged drug dealer in Bitung town last November ... that a huge amount of drugs was stored in NP's house," Marsono said.

Stock Exchange

Stock Exchange Stock prices on the Jakarta Stock Exchange (in rupiah) on Jan. 7, 1999: Shares Close Change Trading Volume ----------------------------------------------------------- Ades Alfindo 475 -50 209,000 AHAP Insurance 400 0 0 Alter Abadi 300 25 926,500 Alumindo Light Metal 300 0 150,000 Alumindo Perkasa 125 0 0 Aneka Kimia Raya 200 25 5,000 Aneka Tambang 1,700 25 9,801,500 Anwar Sierad 100 0 60,000 Apac Centertex Corp.

Value of free press

Value of free press In your Jan. 7 editorial Press freedom or fiefdom, the apt quotation from Thomas Erskine on the value of a free press reminds me of these lines from Thomas Jefferson (in a letter of January 1787): "... were it left to me to decide whether we should have a government without newspapers, or newspapers without a government, I should not hesitate a moment to prefer the latter." MICHAEL S. DOUGHERTY Jakarta

Aerowisata plans to expand

Aerowisata plans to expand JAKARTA (JP): Local hotel chain PT Aerowisata plans to buy more hotels in Bali this year despite the gloomy outlook for the tourist industry in the country. Aerowisata's executive vice president Toto K. Sugiarto said on Thursday that the company planned to buy, or become partners in equity sharing contracts, one or two hotels in Bali this year.

18 arrested in drug den bust

18 arrested in drug den bust JAKARTA (JP): The city police late Wednesday arrested 18 teenagers, including a pregnant girl, for allegedly consuming shabu-shabu, the local name for the crystal methamphetamine, during a raid at a house believed to be used as a drug den in West Jakarta. City police spokesman Lt. Col. Edward Aritonang told reporters on Thursday that the owner of the house, identified as Mami (Mrs.) Veni, 40, was still at large.

IMA's new lineup

IMA's new lineup JAKARTA (JP): The Indonesian Mining Association (IMA) has reshuffled its board to face increasing challenges to the mining sector in the political reform era. The association announced on Thursday that the association's extraordinary meeting on Dec. 18 elected PT Ingold Management president B.N. Wahyu as association chairman, PT Rio Tinto Indonesia president Noke Kiroyan vice chairman and PT Koba Tin director Peter Jackson treasurer.

Malaysia palm oil faces difficult year in 1999

Malaysia palm oil faces difficult year in 1999 KUALA LUMPUR (Reuters): With the market awash with supplies, Malaysian palm oil could lose some of its shine in 1999 after a buoyant 1998, when local prices soared to a record high. Analysts said a bumper crop and high carry-over stocks this year could put pressure on prices. Malaysia is the world's largest producer of the edible oil, followed by Indonesia.

Soeharto case not to be postponed

Soeharto case not to be postponed From Merdeka Soeharto's trial should not wait until after the general election because it is not impossible that the next government will again be in the hands of his cronies. It will make the case only a dream. Soeharto should be tried like Marcos and other heads of state who did the same thing as Soeharto, i.e. considering the state as their own possession. If necessary, the hearing can be done in an international court. What is there to wait for?

Most bankers unwilling to predict interest rates

Most bankers unwilling to predict interest rates JAKARTA (JP): Where are interest rates headed in 1999? A number of bankers interviewed on Thursday were reluctant to predict which way they are heading, citing uncertainties about future political developments and a number of economic trends in the country like the rupiah exchange rate and the rate of inflation. Lulu Harsono, president of listed-Bank Pikko, said interest rates will depend chiefly on political developments in the country.

15 killed and 50 missing after Bali landslide

15 killed and 50 missing after Bali landslide JAKARTA (JP): Fifteen people died when a landslide struck Timbul village in Gianyar, Bali, on Thursday morning and rescue workers assisted by Pupuan hamlet residents were laboring to dig out an estimated 50 people still buried under the mud. Antara reported that a waterlogged overhang collapsed while residents were making repairs to an irrigation canal damaged by days of incessant rain. Many of the workers were buried alive.

Search continues for missing boat

Search continues for missing boat GORONTALO, North Sulawesi: The search is still on for a fishing boat missing since last month in the Tomini waters here. Antara quoted the commander of the search operation for the Hidayatullah vessel, Sgt.Maj. Kisman Hasan, as saying on Thursday that the 15-ton boat had 21 passengers. Locals are helping with the search. Kisman said the boat with six crew members left Gorontalo Port in the direction of the Dolong Port in Central Sulawesi in mid December.

Ramadhan time for Jakarta

Ramadhan time for Jakarta Friday Maghrib 6:15 p.m. Saturday Imsak 4:13 a.m. Subuh 4.23 a.m.

City councilors criticize governor's idea on gambling

City councilors criticize governor's idea on gambling JAKARTA (JP): City councilors lambasted on Wednesday the idea proposed last week by Governor Sutiyoso to localize gambling dens in the capital. According to the councilors, either the governor does not know that gambling in Indonesia is illegal or he was just replying too quickly to questions raised by journalists on New Year's Eve.

Bank Niaga ready for recapitalization step

Bank Niaga ready for recapitalization step JAKARTA (JP): The publicly-listed Bank Niaga said on Thursday it would conduct a rights issue next month to raise funds to finance its recapitalization plan. Vice president Arwin Rasyid said on Thursday that the bank may need some Rp 3 trillion (US$400 million) in order to boost its capital adequacy ratio (CAR) to the stipulated minimum level of 4 percent.

A sound assessment

A sound assessment Though so far no official response has been given to the National Commission on Human Rights (Komnas HAM) annual assessment of human rights conditions in this country, it can be safely surmised that the document is not exactly being greeted as a welcome New Year's present by the Indonesian government.

SE Asian monies stronger against dollar

SE Asian monies stronger against dollar SINGAPORE (Dow Jones): Southeast Asian currencies were generally stronger against the U.S. dollar in late, choppy trading Thursday, as the yen found new footing against the U.S. currency and the specter of central bank intervention weighed heavily on regional markets. Traders in the Singapore dollar, Thai baht and yen markets were especially cognizant of central banks, as well as their U.S.

Two UKI students sue police for Rp 1b for wrongful arrest

Two UKI students sue police for Rp 1b for wrongful arrest JAKARTA (JP): Two Indonesian Christian University (UKI) students, detained for alleged involvement in kidnapping a police officer, are suing the city police for wrongful arrest. Rudi Pahala Simatupang Siburian and Edward Taurus B. Karo-karo claimed city police officers did not furnish warrants when they arrested them on Dec. 8. The men, students in the economics school, are still in custody.

Govt plans to restart marketing Natuna gas

Govt plans to restart marketing Natuna gas JAKARTA (JP): The government plans to restart marketing gas from the giant East Natuna gas field because the owner of the exploitation rights has developed new technology which can provide liquefied natural gas (LNG) at a much lower cost.

Economic crisis affects Tanah Abang vendors this Idul Fitri

Economic crisis affects Tanah Abang vendors this Idul Fitri By Juliane Gunardono JAKARTA (JP): The notorious traffic jams in the Tanah Abang area of Central Jakarta have gotten worse recently. Near the Tanah Abang market, cars, buses and mikrolet (mini-vans) crawl at a snail's pace if they are lucky enough to be moving at all. The vehicles must share the road with pedestrians and sidewalk vendors who spill off into the street itself.

Conversion Rates

Conversion Rates Bank Bali's conversion rates on Jan. 7, 1999: TT rates Bank notes rates Buying Selling Buying Selling Rp Rp Rp Rp U.S.

Gus Dur meets Amien Rais

Gus Dur meets Amien Rais JAKARTA (JP): A breakthrough for the much-awaited national dialog came on Thursday with a meeting between leading Muslim figures Abdurrahman Wahid and Amien Rais. The closed-door meeting, held at the Hotel Indonesia in Central Jakarta, was arranged by New Society, a private group set up for the promotion of democracy and human rights led by businessman Setiawan Djodi.

Transportation firms to get Rp 52.52b loan

Transportation firms to get Rp 52.52b loan JAKARTA (JP): City-owned Bank DKI agreed on Thursday to apportion loans worth Rp 52.52 billion (US$7 million) to four transportation cooperatives and eight transportation companies in the capital next week. Aip Syaifuddin, head of the Jakarta chapter of the Organization of Land Transportation Owners, said the 12 cooperatives and companies had already met the requirements for the loan disbursement.

Fear of unrest gives boost to insurance industry

Fear of unrest gives boost to insurance industry JAKARTA (JP): Many insurers cannot keep up with growing demand for extensive damage insurance coverage amid growing violence and worries over continued social unrest, industry executives said on Thursday. The director of the reinsurance division of the Insurance Council of Indonesia (DAI), Frank Sahusilawane, acknowledged the increased demand for insurance policies covering social unrest since the bloody May riots.

Chili sauce is a new tool in the criminal's arsenal

Chili sauce is a new tool in the criminal's arsenal JAKARTA (JP): Chili sauce was put to an unusual new use on Thursday when a hapless criminal used it as a weapon in a botched robbery. The man was caught by residents of Batu Ampar subdistrict in Kramat Jati, East Jakarta, early on Thursday morning after attempting to steal an ojek (motorcycle taxi) driver's vehicle after rubbing chili sauce on the drivers face.

Shoe factory workers go on strike

Shoe factory workers go on strike TANGERANG (JP): Some 4,500 employees of a shoe factory in Balaraja have gone on strike and staged a noisy protest in their factory compound to demand their annual Idul Fitri bonus and holidays. The employees of PT Tae-Hwa Indonesia (THI) on Jl. Raya Serang which produces Fila and Langford footwear threatened to continue their massive strike unless the management met their demands.

Flower trader stabbed by mistake

Flower trader stabbed by mistake JAKARTA (JP): A 25-year-old flower trader in Kebayoran Lama, South Jakarta, was stabbed to death on Thursday afternoon by a youth, who mistook the victim for a teenager who had been ridiculing him and his gang. The victim, identified as Acip Suwarma, was stabbed from behind in his left thigh and hand and bled to death.

Oil and gas contractors to spend US$5.3b

Oil and gas contractors to spend US$5.3b JAKARTA (JP): State-owned Pertamina's oil and gas contractors plan to increase exploration and production expenditures to US$5.3 billion this year, from last year's figure of $4.3 billion, on expectations of a recovery in oil prices after the economic crisis. Pertamina's head of foreign contractors supervision Gatot K.

Djoko unsure of contesting KONI top post

Djoko unsure of contesting KONI top post JAKARTA (JP): Djoko Pramono showed on Thursday his lack of enthusiasm for joining the race to become the National Sports Council's next chairman, despite being hailed as a strong contender for the position. "It is not our culture to show off. People will brand me arrogant and overconfident, or worse they will think I am challenging the incumbent chairman," he told reporters after an Asian Games evaluation meeting at the council's office.

Experts split over merits of coalition government

Experts split over merits of coalition government By Sugianto Tandra JAKARTA (JP): Observers agree a multiparty coalition government is inevitable after the June 7 general election, but are divided on whether it will lead to a weak government. Chairman of the Islam Community Party Deliar Noer said on Wednesday the country's presidential system would check against ineffectual rule. But Arbi Sanit of the University of Indonesia and Andi A.

Polls demand neutral monitors

Polls demand neutral monitors By Vedi R. Hadiz PERTH (JP): The general elections scheduled for June are supposed to restore the Indonesian people's trust in the government. Recently, the people's confidence in those running the country has been wearing very thin. With the notion of a transitional presidium rejected by most of Indonesia's political leaders -- in government as well as in the opposition -- these elections are particularly crucial in deciding the direction of change in Indonesia.

Police and customs make big drug bust

Police and customs make big drug bust JAKARTA (JP): Police and airport customs and excise officers here on Sunday foiled a smuggling attempt of 1.9 kilograms of marijuana, 42 grams of cocaine and 148,700 ecstasy pills from Hong Kong and arrested two men suspected of being couriers for the syndicate. The first large haul this year, the drugs -- concealed in a VCD player and toy trucks -- are estimated to have a street value of about Rp 1.5 billion.

Police point to officials' hand in recent unrest

Police point to officials' hand in recent unrest JAKARTA (JP): The authorities have revealed that government officials and legislators may have been involved in recent unrest in various parts of the country.

Not militia but dialog

Not militia but dialog From Merdeka The worsening safety conditions in the capital city have been used as the justification for establishing a militia (ratih = rakyat terlatih = trained civilians).

Disbursement of aid for community projects postponed

Disbursement of aid for community projects postponed JAKARTA (JP): The city administration has postponed disbursement of Rp 109.52 billion (US$14.6 million) in World Bank aid allocated for community development due to discrepancies in its proposed usage, an official said on Thursday.

463 bodies admitted at PMI hospital

463 bodies admitted at PMI hospital BOGOR (JP): The number of bodies admitted to the Bogor PMI Hospital here in 1998 reached 463, a drop of 15 percent from the 548 in 1997, according to the hospital's data. Out of the 463 bodies, 111 were of victims of various crimes last year, an increase from 91 in 1997. The other 352 were of victims of traffic accidents, a sharp drop from 457 in 1997, the data showed.

Militia will help foster sense of security: Wiranto

Militia will help foster sense of security: Wiranto JAKARTA (JP): The House of Representatives is holding off on a decision on the hotly debated plan to establish a civilian militia, which the Armed Forces (ABRI) argues is needed to help in law enforcement and restore a sense of security among the public. Minister of Defense/ABRI Commander Gen. Wiranto defended the plan in a hearing with House Commission I on security on Thursday.

Irian Jaya needs health specialists

Irian Jaya needs health specialists JAYAPURA: Seven general hospitals in Irian Jaya lack specialists, the head of the health agency here said. WE Kalalo was quoted Thursday by Antara as saying the institutions were in Wamene, Merauke, Manokwari, Serui, Nabire, Biak and Fakfak. The Jayapura, Sorong and Abepura general hospitals in Jayapura town have sufficient specialists. "In line with rules (on hospitals), each general hospital should have at least four specialists," Kalalo said.

MasterCard appoints new head

MasterCard appoints new head JAKARTA (JP): MasterCard International announced on Thursday that industry veteran Jitendra "Sonny" Sannon has been appointed as the new senior vice president and general manager for the Southeast and South Asia regions. He replaces Don Van Stone, who held the position for five years and has now been appointed senior vice president and managing director for the Middle East and Africa region.

Malaysia plans to introduce 'exit tax' on foreign capital

Malaysia plans to introduce 'exit tax' on foreign capital KUALA LUMPUR (Reuters): The Malaysian government looks sure to relax capital controls by introducing an "exit tax" on foreign portfolio investments that are repatriated, a government official said on Thursday. The government favors the introduction of an exit tax but wants to be sure large sums of foreign investment would not be pulled out once it is announced, the official, who asked not to be identified, told Reuters.

A nice way to convey advice

A nice way to convey advice I agree with Mr. Peter Ganz of Semarang that foreigners should openly point out any shortcomings in Indonesia (The Jakarta Post, Jan. 4: Improved service vital for survival). However, I wondered about his follow-on statement that the reason some foreign nationals are so blunt about it is because they love this country and its people. Isn't the real reason one of frustration and wanting to let out some of that pent-up anger?