Indonesian Political, Business & Finance News

Archive: 5 October 1999

49 articles found

PDI-P's political prowess comes under question

PDI-P's political prowess comes under question JAKARTA (JP): The Indonesian Democratic Party of Struggle's (PDI Perjuangan) much lauded electoral prowess came into immediate uncertainty on Monday following the defeat of Matori Abdul Djalil as chairman of the People's Consultative Assembly (MPR). Questions were immediately raised on the political supremacy of Megawati Soekarnoputri's party to propel her to the presidency in the Oct. 20 election.

Forestry research projects

Forestry research projects JAKARTA (JP): PT. Wanatani Makmur Sejati, PT. Sarang Sapta Putra and the ministry for forestry and plantation signed agreements on Monday to implement two forestry research and development projects in Kalimantan. The two projects are designed to develop a sustainable forest management method which can generate optimum yield.

Detained suspects grilled over Setya's role: Lawyers

Detained suspects grilled over Setya's role: Lawyers JAKARTA (JP): Lawyers representing Rusli Surjadi, one of the suspects in the Rp 546 billion (US$68.25 million) Bank Bali scandal, insisted on Monday that their client be released or at least be granted house-arrest status. Lawyers Trimedya Panjaitan and Petrus Selestinus guaranteed that Rusli, a former Bank Bali director, would remain cooperative with the police's ongoing investigation if he was released.

Investment banks to oversee BCA IPO

Investment banks to oversee BCA IPO JAKARTA (JP): The Indonesian Bank Restructuring Agency (IBRA) announced on Monday that it had appointed investment banks Lehman Brothers and Merrill Lynch and local securities firms PT Danareksa Sekuritas and PT Bahana Securities to prepare the initial public offering (IPO) for Bank Central Asia (BCA). "The IPO will be made either at the end of this year or early next year, depending on the market condition," IBRA announced in a press statement.

Five dead in RP shipyard blast

Five dead in RP shipyard blast SUBIC, Philippines (AFP): An explosion ripped through a shipyard here on Monday, killing five Filipino workers and causing extensive damage to a drydocked tanker, police said. The mid-morning blast occurred at a lower deck below the engine room of the Mondogas Europe, superintendent Enrique Romero told reporters.

Industries profit from infrastructure

Industries profit from infrastructure JAKARTA (JP): More infrastructure to support the growing industries in Banten is currently being built. It is the publicly listed industrial estate and housing developer PT Kawasan Industri Jababeka Tbk., which is constructing an integrated jetty within its industrial estate in Cilegon. General manager of Jababeka's project in Cilegon, Thoufik Winardi, said that when completed, Jababeka's industrial estate in Cilegon will also have a tank terminal.

Molotov cocktails hit Australian school

Molotov cocktails hit Australian school JAKARTA (JP): South Jakarta police detectives are searching for a dark-colored Panther van, believed to be used by a group of unidentified people who flung two Molotov cocktails into the Australian International School compound in Pejaten, early on Monday morning, chief of detectives Capt. Rycko Amelza Daniel said. "That's the only solid clue we have had so far," Rycko told The Jakarta Post.

Banten ready to accommodate chemical industry

Banten ready to accommodate chemical industry By I. Christianto JAKARTA (JP): Supported by its ideal topography, West Java's Banten area has many advantages for various giant industries, particularly petrochemical-related factories. No wonder numerous giant industries like PT Krakatau Steel, PT Tri Polyta Indonesia and PT Chandra Asri Petrochemical Center operate in this region.

Conversion Rates

Conversion Rates Bank Indonesia's conversion rates on Oct. 4, 1999: Bank notes rates Buying Selling Rp Rp U.S. dollar 1 7,599.00 7,675.00 Australian dollar 1 4,987.98 5,043.24 Austrian schilling 1 591.51 597.70 Belgian franc 1 201.77 203.88 Brunei dollar 1 4,485.30 4,532.84 Canadian dollar 1 5,145.24 5,198.46 Swiss franc 1 5,116.83 5,170.44 Deutschemark 1 4,161.62 4,205.20 Danish krone 1 1,094.88 1,106.47 Euro 1 8,139.29 8,224.53 French franc 1 1,240.82 1,253.82 Poundsterling 1 12,566.47 12,698.

Mahaka SM eyes top position in western division

Mahaka SM eyes top position in western division SURABAYA (JP): Mahaka Satria Muda were preparing to take command of the western division after it upset Cahaya Lestari Surabaya (CLS) of the eastern division 70-45 in the sixth day of the third series of the A Mild Kobatama national basketball league at Pacific basketball stadium on Monday. Underdogs Siliwangi apparently could not improve their bottom position as they lost to Bima Sakti Nikko Steel 59-76 in the first game.

Most East Timor refugees wish to return

Most East Timor refugees wish to return JAKARTA (JP): More than 58 percent of some 250,000 East Timor refugees sheltered in East Nusa Tenggara want to return to their homeland, the government and the United Nations' High Commission on Refugees (UNHCR) says. Coordinating Minister of People's Welfare and Poverty Eradication Haryono Suyono said after a meeting with UNHCR senior humanitarian advisor Staffan Bedemar on Monday that the number reversed the government's previous assessment.

President Habibie ready for accountability speech

President Habibie ready for accountability speech JAKARTA (JP): President B.J. Habibie said on Monday he was confident and fully prepared to deliver his accountability speech to the People's Consultative Assembly (MPR) on Oct.14. The President claimed that he already finished the report which outlines what he achieved during his one year as President. "It is not a problem," he remarked.

Six Indonesian Futures qualifiers move on

Six Indonesian Futures qualifiers move on JAKARTA (JP): Six Indonesian players survived matches on Monday in the second round of the qualifiers for the Indonesia Futures F5 at the Kemayoran tennis complex in Central Jakarta. Tjahjono of Indonesia beat first seeded qualifier Attapol Rithiwatanapong of Thailand 6-2, 6-3, and will challenge Hiroshi Fukaumi of Japan in Tuesday's third round.

E. Timor tragedy plays key role in Portugal poll

E. Timor tragedy plays key role in Portugal poll By Richard Waddington LISBON (Reuters): If Portuguese Prime Minister Antonio Guterres betters his performance of four years ago, and wins an outright parliamentary majority in Sunday's election, he may have the long-suffering people of East Timor to thank. Even amongst his political opponents, there are few who doubt that the wily, fast-talking prime minister's Socialist Party will be returned to power as the largest party in the Oct. 10 ballot.

Amien Rais' election

Amien Rais' election Tuesday evening's election of the People's Consultative Assembly speaker, broadcast live by a private TV station, gave the impression that democracy in Indonesia has been successfully resuscitated. Many people later said they had been caught by surprise by the nomination of Mohammad Amien Rais, who was one among many candidates from bigger political groupings.

Syarwan Hamid elected to MPR

Syarwan Hamid elected to MPR RIAU: Minister of Home Affairs Syarwan Hamid was one of five people elected on Monday by the provincial council who will attend the People's Consultative Assembly (MPR) as the Riau Regional Representatives. Syarwan Hamid obtained the highest approval with 32 votes. Other members elected were M. Azalay Johan and Amir Lutfi from the Golkar Party, Ghaleb Husein from the National Mandate Party (PAN) and Mahdini from the United Development Party (PPP).

Legal experts urge police to disarm volunteers

Legal experts urge police to disarm volunteers JAKARTA (JP): Legal professionals called on city police on Monday to disarm volunteers who are part of a joint security force safeguarding the General Session of the People's Consultative Assembly (MPR). Spokesman of the Central Jakarta District Court Paiman Martoredjo cited the bid was illegal and said the police must take stern measures against volunteers who carried sharp weapons or guns without a license from the city's security authority.

NGOs call on donors to give Indonesia debt relief

NGOs call on donors to give Indonesia debt relief JAKARTA (JP): Non-governmental organizations (NGOs) urged the World Bank and other donor institutions on Monday to reduce Indonesia's sovereign debt by at least 30 percent. The executive secretary of the International NGO Forum on Indonesian Development (INFID), Binny Buchori, said it was impossible for Indonesia to emerge from the devastating economic crisis without debt relief.

Violence and money politics

Violence and money politics From Neraca Every day we read in our press that the reformists' camp is worried that there will be violence and/or money politics during the presidential election in the General Session of the People's Consultative Assembly (MPR). On the other hand, we also read that the opposite camp, the pro-status-quo camp, is also claiming to be reformists, and its success team is now working all out to have its candidate elected president.

Stock Exchange

Stock Exchange Stock prices on the Jakarta Stock Exchange (in rupiah) on Oct. 4, 1999: Shares Close Change Trading Volume ------------------------------------------------------------ Ades Alfindo 500 0 0 AHAP Insurance 550 0 0 Alakasa Industrindo 250 0 0 Alter Abadi 275 0 429,000 Alumindo Light Metal 1,200 -200 500 Aneka Kimia Raya 450 50 1,000 Aneka Tambang (Persero) 1,425 -50 5,511,000 Anwar Sierad 200 0 232,500 APAC Centertex Corp.

Fair competition law must be enacted on time: Official

Fair competition law must be enacted on time: Official JAKARTA (JP): Vice cabinet secretary Erman Rajagukguk has urged the country's next government to implement the antimonopoly and unfair competition law in the first quarter of next year, as scheduled, in order to ensure fair business practices. "I hope the next government will enforce the law in early March," he said at an economic law seminar jointly sponsored by the University of Indonesia law school and the Ministry of Trade and Industry.

Parking fee hike effective from January

Parking fee hike effective from January JAKARTA (JP): The city administration is to set a new official parking fee at between Rp 1,000 and Rp 500 for cars and Rp 500 for motorcycles at spaces managed by the city parking management body BP Parkir starting from next year, an official announced on Monday. Deputy Governor for Development Affairs Budihardjo Sukmadi said that the hike would be followed by a significant improvement in BP Parkir to avoid mismanagement and financial losses.

Forex reserves up to $16b

Forex reserves up to $16b JAKARTA (JP): Indonesia's net foreign exchange reserves during the fourth week of September increased by US$216.5 million to $16 billion from the level of the previous week, Bank Indonesia reported on Monday. The central bank said in its weekly report that the increase was particularly resulting from the disbursement of loans from the Japanese Exim Bank and from oil revenue.

Herry Agung wins national drag race

Herry Agung wins national drag race JAKARTA (JP): Local racer Herry Agung upset defending champion Canadian Robert Paul to win on Sunday the fourth leg of the national drag race at the Sentul circuit, near Bogor. Driving a Nissan Fair Lady, Herry, of the Firna racing team, won the free-for-all category in 10:433 seconds. Teammate Wie Wie Rianto was in second place with 10:467, and Paul of the Star Mild team was in third, clocking 11:131.

N. Korea makes overtures to RP

N. Korea makes overtures to RP MANILA (AFP): North Korea is renewing its bid to establish diplomatic relations with the Philippines, Filipino Foreign Secretary Domingo Siazon said on Monday. He told reporters he met with North Korean Foreign Minister Paek Nam Sun at the United Nations last week. "He suggested that maybe we could establish relations. I told him I will consult with members of Congress about this upon arrival in Manila," Siazon said.

Anwar accuses Mahathir of lying

Anwar accuses Mahathir of lying KUALA LUMPUR (Agencies): Malaysia's jailed former deputy premier Anwar Ibrahim insisted on Monday he had declared his assets while in office and accused Prime Minister Mahathir Mohamad of lying about the issue. Mahathir last week said Anwar, who has filed police reports while in custody alleging high-level government corruption, had failed to declare his own assets while in office.

Asian currencies climb, with strong rupiah leading the way

Asian currencies climb, with strong rupiah leading the way SINGAPORE (Dow Jones): Asian currencies are stronger against the U.S. dollar in late trading Monday with a surprisingly strong Indonesian rupiah leading the way, following the weekend election of reformist Amien Rais as the speaker of the People's Consultative Assembly, the country's highest legislative body.

Banyumas officials go back to school

Banyumas officials go back to school PURWOKERTO, Central Java: A senior regency official here has drawn attention to the fact that only 10 percent of the 4,366 officials working at the Banyumas administration have been educated beyond high school. Regional Secretary Soediman said the low education level would be a drawback to the administration, especially when the new law on regional autonomy was in place. The law is expected to take effect in 2001. "We realize our weakness.

TNI suspects snipers behind Ambon killings

TNI suspects snipers behind Ambon killings AMBON, Maluku (JP): A military officer said on Monday he suspected trained snipers were behind the fatalities in the latest communal clashes in Batumerah subdistrict here. Thirteen people, including an Army soldier, have been shot dead, while 46 others have been injured since this latest round of violence in Ambon broke out on Sunday.

TV today

TV today TVRI 5:30 a.m. Religious Teachings 6:00 News: Two Hours Only 7:00 TNI's Day Commemoration (live) 9:00 Music 10:30 Interval 2:00 p.m. News 2:30 TV Series: Amazing 3:00 Music 4:00 Regional News 4:30 Management Program 5:00 Documentary 5:30 TV Drama 6:00 Sports 6:30 News (in English) 7:00 Evening News 7:30 TNI's Day Commemoration (rerun) 8:30 Music 9:00 World News 9:35 Talk Show 10:30 Music 11:35 Late News Program 2 4:30 p.m.

Humiliation looms as UN inquiry begins

Humiliation looms as UN inquiry begins The United Nations is dispatching this week its first human rights experts to East Timor. Lawyer and human rights activist T. Mulya Lubis says the move will have profound consequences for Indonesia. Question: Indonesia has opposed the dispatch of a UN fact- finding commission to East Timor to probe reported atrocities there. Could the UN go on with its plan despite the opposition?

IMF to meet with government in Jakarta next week

IMF to meet with government in Jakarta next week JAKARTA (JP): The International Monetary Fund reasserted its demand on Monday for the full disclosure of the results of the investigations into the Bank Bali scandal but said it would nevertheless hold technical discussions with government and economists of major political parties in Jakarta next week.

Small arms proliferation in Southeast Asia

Small arms proliferation in Southeast Asia By Santo Darmosumarto JAKARTA (JP): Southeast Asia began experiencing the impact of small arms proliferation as early as 1975 with the end of the Vietnam War. The movement of these weapons into and out of the region, predominantly through illegal channels and the black market, has now become a great security concern. It can fuel increased levels of violent crimes, thus undermining government efforts at establishing stability and order.

Military must hand over civilian posts

Military must hand over civilian posts As Indonesians we used to say saudara (brother) to address our fellow countrymen. The late president Sukarno frequently used it to address an audience. It implies closeness. To him, Javanese, Sundanese, Ambonese, Manadonese, Chinese, Bataks, etc. were all Indonesians irrespective of their ethnicity, creed, religion and background. They were just brothers and sisters, the children of the motherland.

Scapegoating in the New Order

Scapegoating in the New Order By Tjipta Lesmana JAKARTA (JP): The origin of the term scapegoat, according to Gordon W. Allport, might be found in the Book of Leviticus (16:20-22). On the Day of Atonement a live goat was chosen to be sacrificed. An Israeli high priest laid his hands on the goat's head and confessed over it the sins of the children of Israel. In doing so these sins were symbolically transferred to the goat; it was then taken out into the wilderness and set free.

Worm breeding inspires crisis-hit economy

Worm breeding inspires crisis-hit economy By Mehru Jaffer CIPANAS, West Java (JP): Do not laugh if you hear about a man who earns his living raising worms. Vermiculture, the science of breeding earthworms, is wriggling its way into more hearts than one, especially after the onset of the economic crisis. Ferry, who is 31 years old and a father of three, recalls spending two terrible years without a job until he accidentally wandered into the earthworm ecology farms in Cipanas, West Java.

Golkar eyes post of House speaker

Golkar eyes post of House speaker JAKARTA (JP): The Golkar Party is hoping for an exchange of support from its Muslim-based allies to win the House of Representatives (DPR) speaker post up for grabs on Tuesday. Brimming with confidence, Golkar deputy chairman Marzuki Darusman said on Monday his party had secured commitment from at least the United Development Party (PPP). He also said the party expected the National Mandate Party (PAN) to support its bid.

Malaysia palm oil ends up

Malaysia palm oil ends up KUALA LUMPUR (Reuters): Malaysian palm oil prices were firmer at Monday's close on shortcovering and technical buying with the market closely watching movements of the Indonesian rupiah currency. Traders said players refused to trade actively ahead of the release of fresh crop projections from forecaster Ivan Wong this week.

New council chief installed in Bogor

New council chief installed in Bogor BOGOR (JP): Mochamad Sahid of the Indonesian Democratic Party of Struggle (PDI Perjuangan) was elected on Monday to chair the Bogor Legislative Council for the 1999-2004 period. He came in first place with 13 votes during the one man, one vote poll administered by 43 newly elected local legislators in a plenary session.

Firearms in Sudirman incident examined

Firearms in Sudirman incident examined JAKARTA (JP): The Jakarta Military Police have checked 374 firearms belonging to the security forces believed to have been used in the fatal shooting of eight people on the night of Sept. 24, an officer said on Monday. Col.

Foreign buyers to Medan

Foreign buyers to Medan JAKARTA (JP): At least 200 foreign buyers will visit the upcoming North Sumatra Export Product Exhibition which will be held at the Tiara Convention Hall in Medan from Oct.25 to 29, a trade official said on Monday. "Buyers and trade missions from Europe, the United States, Asia and the Middle East have expressed interests to visit the trade display," Azwar Aziz, head of the international trade bureau at the N.

Workers continue Medan strike

Workers continue Medan strike MEDAN, North Sumatra: About 1,000 workers from PT Gunung Gahapi Sakti continued their 17-day strike on Monday in a bid for better welfare compensation and the reinstatement of one of their colleagues. "We will continue the strike until Thursday, or the 21st day of the protest," said strike coordinator Alfian Panjaitan. The specific details of the workers' demands were not available to the press.

New government to decide on Telkom-Indosat merger

New government to decide on Telkom-Indosat merger JAKARTA (JP): The decision on whether to merge state telecommunications firms PT Telkom and PT Indosat will be made by the new government, according to Sofyan Djalil, the assistant to the State Minister of the Empowerment of State Enterprises.

Assembly establishes working committee

Assembly establishes working committee JAKARTA (JP): The People's Consultative Assembly (MPR) established on Monday a 90-member working committee tasked to prepare amendments to the 1945 Constitution, set procedures for the presidential election and formulate draft decrees on various state affairs.

Acting speaker was reluctant to lead

Acting speaker was reluctant to lead By Emmy Fitri JAKARTA (JP): It looked like the most unenviable job available. Presiding over a rambunctious 700-seat Assembly just recently unshackled from years of passivity. More then once they jeered at the 78-year-old man sitting in front of the huge Assembly hall. Several times people rolled their eyes in desperation at his seeming ineptitude.

Shy proboscis monkey extremely endangered

Shy proboscis monkey extremely endangered By Hasan Zainuddin BANJARMASIN, South Kalimantan (Antara): The large fair-haired, red-skinned bekantan (proboscis monkey) covered its long nose with its hands when it realized a person was watching it. Then slowly it inched away and disappeared into the thick jungle in its natural habitat. "The monkey is extremely shy.

A good beginning

A good beginning The voting that was done to establish the rules of procedure, elect the People's Consultative Assembly (MPR) chairman and set up the Assembly's various working groups was intended to avoid deadlocks which many observers feared would hamper the smooth running of the sessions. In the past, the possibility of deadlocks was frequently used as a specter by the executive to force its will on the legislature.

EU, Asian ministers meet against economic backdrop

EU, Asian ministers meet against economic backdrop By Andrew McCathie BERLIN (DPA): European Union and Asian economic ministers are meeting in Berlin next week against the backdrop of an improved economic outlook for both regions. Two years after a financial firestorm swept through Asia economic growth in both the EU and the Asian-Pacific region is beginning to pick up speed with Asia's brighter economic prospects helping to drive rising European exports.

Amex launches Money Plus

Amex launches Money Plus JAKARTA (JP): American Express Bank launched on Monday its new product called the Money Plus (Money+) account, which is a time deposit tailored to be a personal investment tool. The bank describes the product as an investment account which combines the ease of having a time deposit with the advantages of an investment tool managed by a personal fund manager.