Indonesian Political, Business & Finance News

Archive: 16 November 1999

51 articles found

Astra CMG debuts health plan

Astra CMG debuts health plan JAKARTA (JP): PT Astra CMG Life insurance company launched on Monday the Danatra Citra Plus, a health insurance scheme that offers protection against various critical illnesses and also serves as an old-age saving plan.

Panasia and Aspac warm up for the final four

Panasia and Aspac warm up for the final four JAKARTA (JP): With the final berths already in their hands, the sixth series of the 1999 A Mild Kobatama national basketball league served only as a warm-up for Panasia Indosyntec and Aspac Indosyntec. Panasia recorded the first victory in the last series by trashing Citra Satria Pelita (CSP) 71-52 in the third action of the league in Senayan's basketball hall on Monday. Panasia lost to Mahaka Satria Muda (SM) 53-73 (20-33) on Saturday.

State firms take over subsidized loans

State firms take over subsidized loans JAKARTA (JP): Bank Indonesia (BI) has formally handed over the management of government-sponsored credit to three state financial companies: Bank Rakyat Indonesia (BRI), PT Bank Tabungan Negara (BTN) and Permodalan Nasional Madani (PNM) BI Governor Sjahril Sabirin said freeing the central bank from the task of managing the subsidized loans program was in line with the 1999 central bank independency law.

Hyundai wins $30 in chip panel deals

Hyundai wins $30 in chip panel deals SEOUL (AfP): South Korea's leading chip maker Hyundai Electronics Industries Co. Ltd., said Monday that it had secured about US$30 billion in overseas orders for microchips and flat panel displays. Hyundai said in a statement it would export Dynamic Random Access Memory (DRAM) chips worth $22 billion to four major international firms in deals spread over the next five years. The four firms include such giants as International Businesss Machines Corp.

Kwik says govt seeks refinance, reschedule for foreign debt

Kwik says govt seeks refinance, reschedule for foreign debt JAKARTA (JP): The government is seeking to refinance and reschedule its foreign debt but will not ask for any debt relief, according to Coordinating Minister for Economy, Finance and Industry Kwik Kian Gie. Kwik said on Monday that the government was "exploring all possible options" to manage its external debt, including through new financing and rescheduling within existing international rules. "No debt reductions are being sought.

Councilors may suggest water agreement cancellation

Councilors may suggest water agreement cancellation JAKARTA (JP): The City Council suggested it would call for the cancellation of the water management agreement between city water firm PDAM Jaya and its foreign partners after irregularities in the deal were uncovered. "We'll complete our investigation by the end of next month.

Conversion Rates

Conversion Rates Bank Indonesia's conversion rates on Nov. 15, 1999: Bank notes rates Buying Selling Rp Rp U.S.

Signs of economic recovery continue: BPS

Signs of economic recovery continue: BPS JAKARTA (JP): The country's gross domestic product (GDP) rose by 1.54 percent in the third quarter of this year compared to the second quarter: Another sign that the economy is improving, according to the Central Bureau of Statistics (BPS). BPS reported here on Monday that the third quarter GDP growth was up by 0.54 percent compared to the same period last year.

121 suspects in Maluku unrest

121 suspects in Maluku unrest AMBON, South Maluku: Police have completed the dossiers on 121 people suspected of provoking riots in several areas of the province. "All the dossiers, along with evidence, have been submitted to the prosecutor's office, and some of them have already been submitted to the courts," Central Maluku Police chief Lt. Col. Benny B van Bulow said on Monday. He said 41 of the suspects were involved in the West Seram riot on Jan. 19; 24 in the Kairatu clash on Feb.

MP private sought in truck holdups

MP private sought in truck holdups JAKARTA (JP): Tangerang Police are seeking a member of the military police who is suspected in a series of armed robberies of container trucks involving hundreds of millions of rupiah, an officer said on Monday. "The member of the military police, Pvt. Maulana, was involved in a container truck robbery on July 1," Tangerang Police chief Lt. Col. Pudji Hartanto said.

Singapore revises growth

Singapore revises growth SINGAPORE (AFP): The Singapore government has revised upwards the 1999 growth forecast for the island state's economy, causing the stock market to jump more than two percent on Monday. Trade and Industry Minister George Yeo was quoted saying by local television and newspaper reports that the economy was expected to expand 4.5 to 5.0 percent this year from just 0.3 percent in 1998.

Brimob expanded in coming weeks

Brimob expanded in coming weeks JAKARTA (JP): National Police chief Gen. Roesmanhadi said on Monday that the elite Mobile Brigade would soon expand from three regiments to seven regiments. He said the expansion was vital for the coming years as the police would need more troops to effectively anticipate possible unrest across the nation.

Man deported for overstaying visa

Man deported for overstaying visa JAKARTA (JP): The Tangerang immigration office deported a Singaporean identified as Ibrahim bin Shaik Hussain Bamadhag for violating his visa, an official said on Monday. "Ibrahim was involved in stock trading here. He overstayed his visa and did not have a legal business permit," Tangerang immigration office head Dodi M. Wibowo said, adding that the Singaporean was arrested on Oct. 8.

House approves release of 90 political prisoners

House approves release of 90 political prisoners JAKARTA (JP): The House of Representatives (DPR) endorsed President Abdurrahman Wahid's plan to release a total of 90 political prisoners, and urged the President to free those remaining in prison. Most House factions in a plenary session presided by House Deputy Speaker Soetardjo Soerjogoeritno hailed the President's goodwill, which was in line with his commitment to promote human rights and national reconciliation.

Scholar renews independence proposal for Riau

Scholar renews independence proposal for Riau JAKARTA (JP): A scholar rejected on Monday a federal proposal for Riau and insisted that the oil-rich province separate from the Republic of Indonesia instead. Tabrani Rab, a professor of medicine and a community figure who canceled the declaration of independence of Riau in March due to a fear of clashes with security personnel, claimed that the federal proposal was not popular in Riau.

Bank Bali imbroglio

Bank Bali imbroglio The decision by Indonesian Bank Restructuring Agency (IBRA) chairman Glenn Yusuf last week to review the agency's management and investment agreements with Standard Chartered Bank (SCB) of Britain for Bank Bali, though rather late, is imperative to resolving the imbroglio between Bank Bali local staff and SCB management team.

Gambling backers disclosed

Gambling backers disclosed BOGOR (JP): Bogor administration spokesman Yus Herdiyus disclosed to media on Monday that five local officials allegedly backed activities in a gambling den at Jl. Siliwangi No. 23D which was raided by students earlier this month. He said the officials were two employees of the Bogor administration's social-political affairs office and three officials from the local Regional Development Planning (Bappeda) office, Sukasari subdistrict, East Bogor.

Malaysian polls will be fought in the heartland

Malaysian polls will be fought in the heartland By Eileen Ng KUALA LUMPUR (AFP): The main battleground in Malaysia's upcoming elections lies hundreds of kilometers from the gleaming skyscrapers of Kuala Lumpur -- in the conservative rural Muslim Malay heartland. Prime Minister Mahathir Mohamad said Sunday his ruling coalition would focus its election campaign on four northern states -- Perlis, Kedah, Kelantan and Terengganu.

Irianese call for dialog with Gus Dur and Megawati

Irianese call for dialog with Gus Dur and Megawati JAKARTA (JP): A group of Irianese in Timika, Irian Jaya, are willing to lower the Morning Star separatist rebel flag if President Abdurrahman Wahid and Vice President Megawati Soekarnoputri grant their demand for face-to-face talks.

Speculation continues over ministers' names

Speculation continues over ministers' names JAKARTA (JP): Who could they be? This question buzzed around the capital on Monday following President Abdurrahman Wahid's announcement that he was preparing to replace three Cabinet members following new allegations of corruption. Although the President has indicated the imminent shuffle on two occasions during his recent visit to the United States, he has yet to publicly disclose the names of the three ministers.

Put Soeharto on trial

Put Soeharto on trial From Rakyat Merdeka I believe that any sensible Indonesian will agree that it is Soeharto who must assume the greatest responsibility for all the recent disasters to have befallen this nation. It is now close to two years since Soeharto was forced to step down by a people's movement spearheaded by university students. Unfortunately, Soeharto has not been brought to trial.

Taking the wrong cues from the U.S.

Taking the wrong cues from the U.S. From Rakyat Merdeka Indonesians consist of people dwelling in areas stretching from Sabang to Merauke and people who are no longer concerned by the issue of ethnic differences, for example because of interethnic marriage. They know that Indonesia has been an independent unitary state for 54 years and that they are Indonesians. To them Indonesia is a group of islands stretching along the equator.

Some firms in better position to repay debt: S&P

Some firms in better position to repay debt: S&P JAKARTA (JP): The credit quality of Indonesian corporations remains weak but some companies are in a better position to meet outstanding debt obligations in a timely manner, according to the Standard & Poor's rating agency. Ee-Lin Tan, the agency's Singapore-based associate, said companies which sell predominantly to the domestic market and maintain significant U.S. dollar cost structures were the most vulnerable.

Disseminate power to the provinces

Disseminate power to the provinces By David Keller JAKARTA (JP): The inherent pluralistic culture found in Indonesia from the past to the present, can infer that the enlightening processes of western democracy has, without fail, determined New Order democracy obsolete. This especially, since the dawning of the Abdurrahman Wahid government and the complex task of reinforcing "national unity".

PON organizers urged to watch their budget

PON organizers urged to watch their budget JAKARTA (JP): The National Sports Council (KONI) vice chairman Arie Sudewo urged the 15th National Games (PON) Organizing Committee in Surabaya to budget efficiently for the quadrennial sports event. Arie told reporters on Monday that so far the organizers have only Rp 15 billion (US$2.1 million) from their estimated Rp 61 billion budget. "The organizers are still optimistic that they will be able to reach their target of Rp 61 billion.

Gus Dur pledges quick solution for Aceh problem

Gus Dur pledges quick solution for Aceh problem TOKYO (JP): President Abdurrahman Wahid said on Monday he wanted to resolve the question of Aceh within a month, a Japanese official said here. The chairman of the Japan-Indonesia Parliament Friendship League, Taku Yamasaki, quoted Abdurrahman as saying Jakarta's official response to the Acehnese demand for a self-determination referendum would be announced after taking into account several key considerations.

Utan Kayu couple murdered at home as children sleep

Utan Kayu couple murdered at home as children sleep JAKARTA (JP): A hotel manager and his wife were murdered on Sunday in their home while their children and servants were asleep, said police and relatives of the victims. Konstantin K., 52, a hotel manager in East Jakarta, and his wife, Umi Kalsum, 44, were found dead in the living room of their house in Utan Kayu, East Jakarta. The servants, who found their bodies, called the police.

Tourist sector sees signs of recovery

Tourist sector sees signs of recovery JAKARTA (JP): The new government is expected to rejuvenate the country's tourist industry after a number of years of downturn. Abdurrahman Wahid and Megawati Soekarnoputri were elected last month as Indonesia's president and vice president, respectively, in the country's first democratic electoral process in decades. The 59 year old Abdurrahman, popularly known as Gus Dur, is an internationally acclaimed moderate Muslim leader.

Japan assures Gus Dur of economic help

Japan assures Gus Dur of economic help By Kornelius Purba TOKYO (JP): A senior Japanese minister urged visiting President Abdurrahman Wahid on Monday to restore market confidence in Indonesia by implementing concrete economic policies. Minister of International Trade and Industry Takashi Fukaya assured the President that Japan's economic commitment to Indonesia would remain strong, but also emphasized the importance of implementing consistent and market-oriented economic policies.

Zero Population Growth in RI targeted for the year 2080

Zero Population Growth in RI targeted for the year 2080 DENPASAR, Bali (JP): Indonesia could reach Zero Population Growth (ZPG) in the year 2080 if the country succeeds in reducing the fertility rate to 2.1 persons in 2020, an expert said on Monday.

TV today

TV today TVRI 5:30 a.m. Religious Teachings 6:00 News 8:00 Children's Songs 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 TV Series: Hotel 8:30 Music 9:00 World News 9:35 Talk Show 10:30 Music 11:35 Late News Program 2 4:30 p.m.

RI shuttlers set for China Open to improve rankings

RI shuttlers set for China Open to improve rankings JAKARTA (JP): The Badminton Association of Indonesia (PBSI) training director, Christian Hadinata, said over the weekend that PBSI was sending athletes to compete in the China Open to improve its shuttlers world rankings to enable them to qualify for the Grand Prix Finals in Brunei Darussalam next month. "The China Open will be the last tournament for our shuttlers to improve their rankings.

Bus commuters say crews' attitude needs overhaul

Bus commuters say crews' attitude needs overhaul JAKARTA (JP): Commuters complained on Monday that bus terminal operators in the capital should improve the attitude of errant officials instead of spending heavily on renovations of their facilities.

World Bank projects RI external debt to balloon

World Bank projects RI external debt to balloon TOKYO (Reuters): Indonesia faces a difficult task of revitalizing its frail banking system while controlling its ballooning public debt, the World Bank's chief economist for the East Asia and Pacific Region said on Monday. The economist, Masahiro Kawai, also said debt reduction was not a realistic solution for the new government of President Abdurrahman Wahid, who arrived in Tokyo on Monday for a two-day visit.

President needs a PR person

President needs a PR person The postelection period for Cabinet ministers and members of the People's Consultative Assembly and House of Representatives, both at the central and provincial levels, should be seen, and most importantly felt by those concerned, as a trial-and-error period.

Stock quotations on JSX

Stock quotations on JSX Stock prices on the Jakarta Stock Exchange (in rupiah) on Nov. 15, 1999: Shares Close Change Trading Volume --------------------------------------------------------------- Ades Alfindo 875 0 356,500 AHAP Insurance 550 0 0 Alakasa Industrindo 450 0 0 Alter Abadi 400 25 56,000 Alumindo Light Metal 1,275 0 5,000 Aneka Kimia Raya 600 0 4,000 Aneka Tambang (Persero) 1,425 0 1,137,000 Anwar Sierad 300 0 106,500 APAC Centertex Corp.

IBRA to deal with interbank claims: BI

IBRA to deal with interbank claims: BI JAKARTA (JP): Bank Indonesia Governor Sjahril Sabirin said on Monday the central bank would no longer be involved in the process of verifying interbank claims guaranteed by the government. He said the verification would be the sole responsibility of the Indonesian Bank Restructuring Agency (IBRA).

NU must reinstate mission at next congress: Hasyim

NU must reinstate mission at next congress: Hasyim JAKARTA (JP): An influential Nadhlatul Ulama (NU) figure urged on Monday that the NU reinstate its mission during its next congress to enable the largest Muslim organization to contribute to the country's development. "It is a new era for NU to go to the front row and fight for new values in state-religion relations and to design a new strategy to develop future religious harmony," said NU east Java chapter chairman Hasyim Muzadi.

Anti-Israel rallies continue

Anti-Israel rallies continue SEMARANG: A group of students from the Indonesian Muslim Student Action Front (KAMMI) protested here on Monday the government's plan to establish economic ties with Israel. The students marched from Diponegoro University to the provincial legislative council, waving banners and yelling slogans condemning what they called Israel's human rights violations.

Telkom may sell 'Palapa-B2R' to lessor PSN

Telkom may sell 'Palapa-B2R' to lessor PSN CIBINONG, Bogor (JP): Publicly listed PT Telekomunikasi Indonesia (Telkom) said on Monday it was considering selling its Palapa-B2R satellite to satellite transponder lessor PT Pasifik Satelit Nusantara (PSN). Telkom's president A.A. Nasution said the company would no longer use the satellite following the launch of its new Telkom-1 satellite in August this year. "We are going to sell Palapa-B2R. First priority will be given to PSN.

BAT Indonesia buys Rothmans for Rp 210b

BAT Indonesia buys Rothmans for Rp 210b JAKARTA (JP): Publicly listed cigarettemaker PT British American Tobacco (BAT) Indonesia announced on Monday it had agreed to buy 99.99 percent of cigarettemaker PT Rothmans of Pall Mall Indonesia for Rp 210 billion (US$30 million). The company said the acquisition would be financed with a loan from the BAT Group, which would be repaid with proceeds from a rights issue to be conducted by the company next year.

HIV spread in Indonesia uncontrolled: Official

HIV spread in Indonesia uncontrolled: Official JAKARTA (JP): The spread of the Human Immunodeficiency Virus (HIV) in the country remains unknown after 12 years of efforts to trace people infected with the deadly virus, a health official said on Monday.

March of time tramples historic Tugu kampong

March of time tramples historic Tugu kampong JAKARTA (JP): Residents of the old kampong of Tugu in North Jakarta are doubtful of the city administration's seriousness in preserving the historic area. They said the city did nothing to execute its plan proposed several years ago to protect the area, which included financing renovations of the people's homes. Residents claim officials in charge of the project have been unwilling to meet their promises when asked by the residents.

Thai-Myanmar row 'threatens' ASEAN

Thai-Myanmar row 'threatens' ASEAN BANGKOK (AFP): Thailand's Foreign Minister Surin Pitsuwan has warned that deteriorating relations with neighbor Myanmar may cause problems at the Association of Southeast Asian Nations (ASEAN) summit in Manila later this month, reports said on Monday. He said Bangkok planned to take a new coordinated approach to solving the row which erupted after pro-democracy gunmen stormed Yangon's embassy here last month. The ASEAN summit will be held from Nov. 24 to Nov.

Antidrug activists demand death sentence for Zarina

Antidrug activists demand death sentence for Zarina JAKARTA (JP): At least 100 activists grouped in the People's Anti-Drug Movement, or Geram, packed City Hall on Monday and demanded the death sentence for Zarina Mirafsur if she is found guilty of drug offenses. The antidrug campaigners said the heavy penalty was sorely needed to end rampant drug trafficking in the capital.

Tanjung Puting National Park facing disaster

Tanjung Puting National Park facing disaster By Mahmudah PALANGKA RAYA, Central Kalimantan (Antara): Tanjung Puting National Park, one of the most important forest reserves in the country, is in a deplorable state. The internationally acclaimed park is home to endangered species like the orangutan and proboscis monkeys. It boasts an ecosystem including rain forests, freshwater forests, mangroves and a beautiful forested coastline suitable for tourism and research.

Foreign investors' concern turns to unrest in Aceh

Foreign investors' concern turns to unrest in Aceh JAKARTA (JP): Political uncertainty in the troubled province of Aceh has become a major concern for most foreign investors in Indonesia, according to a Singapore-based economist. Mangal Goswami of the Economic Research Group Asia Pacific said here on Monday the political problem in the oil-rich province would further reduce foreign investor confidence in the country's economy.

Fishermen voice concern over sea erosion

Fishermen voice concern over sea erosion TANGERANG (JP): Dozens of fishermen from Tanjung Anom village in the Mauk subdistrict in Tangerang complained over the increasing threats of sea erosion and floods during the east wind season which brings in high tides and strong winds.

Accor Asia-Pacific puts Banten's delights on the map

Accor Asia-Pacific puts Banten's delights on the map By I. Christianto JAKARTA (JP): World-class hotel management company Accor Asia- Pacific is looking to develop more properties in Tanjung Lesung in Banten, West Java, in addition to its existing four-star property in the emerging tourist resort area.

Police raid gambling den

Police raid gambling den MAKASSAR, South Sulawesi (JP): Police raided what is believed to be the town's largest gambling den after a month of surveillance, an officer said on Monday. The chief of the provincial police detectives, Maj. Dewa Putu Anom, said police arrested 53 gamblers during the raid on early Sunday. Among those arrested were government officials, including a public relations officer at state-owned Pertamina oil and gas company.

Astra car sales climb 85%

Astra car sales climb 85% JAKARTA (JP): The country's largest automobile group, Astra International, reported an 85 percent increase in its domestic and export sales of cars to reach 54,980 units in the first 10 months of the year compared to the same period last year. Astra's director Rudyanto Hardjanto said in a statement on Monday that Astra's domestic car sales of Toyota, Isuzu, BMW, Daihatsu, Peugeot and Nissan makes were 31,392, up 8 percent from the same period last year.