Indonesian Political, Business & Finance News

Archive: 9 December 1999

50 articles found

Artist creates abstraction of Merapi winds

Artist creates abstraction of Merapi winds By Sri Wahyuni YOGYAKARTA (JP): For the Javanese, Mount Merapi is more than just a volcano. For many residents of this ancient city Merapi, some 20 kilometers to the north, houses an invisible "kingdom" and there lives a king and his subject. This mystical belief is especially true for those living on the slopes of the highly active volcano.

Bali's textile industry faces problems

Bali's textile industry faces problems By I Wayan Juniarta DENPASAR, Bali (JP): In the face of the new millennium and a new free trade era, textile and garment producers on the island of Bali are struggling to improve labor welfare and to solve environmental problems. To date, there has been no precise data on the number of textile and garment factories operating in Bali.

Officials shift blame for blunders in war on drugs

Officials shift blame for blunders in war on drugs JAKARTA (JP): City officials blamed each other on Tuesday over the lack of coordination in the city's war against drugs. An aura of incongruity was observed in a meeting discussing an antidrug campaign at City Hall. "I can't understand why drug dealers and users receive minimum sentences, not maximum ones," Governor Sutiyoso, who hosted the meeting, said.

Textiles and handicrafts form Bali's economic backbone

Textiles and handicrafts form Bali's economic backbone By I Ketut Sutika DENPASAR, Bali (ANTARA): The beauty of Balinese arts and handicrafts has not only made the Island of the Gods famous around the world but also one of the most prosperous of Indonesia's provinces. For centuries, Bali has been renowned for its elaborate and fine artwork and home to many talented artists.

13 people named suspects in Aceh massacre: Djasri

13 people named suspects in Aceh massacre: Djasri JAKARTA (JP): Military police chief Maj. Gen. Djasri Marin said here on Wednesday that 11 military personnel and two civilians had been declared suspects in the killing of at least 65 people, including Islamic boarding school teacher Tengku Bantaqiah, in the troubled province of Aceh in July. Djasri did not reveal the names of the suspects, but said the most senior among them was a lieutenant colonel.

Multiartha signs restructuring deal

Multiartha signs restructuring deal JAKARTA (JP): Publicly listed finance company PT Sinar Mas Multiartha and its wholly owned PT Sinar Mas Multifinance signed on Wednesday a restructuring agreement for their US$46.7 million Medium-Term Notes (MTNs) with the Asian Banking Corporation of South Korea. An executive of the South Korean bank, Tae Seon Paik, said the agreement involved a five-year rescheduling of the notes' maturity without a debt reprieve nor an additional grace period.

Gus Dur keeps Aceh off year-end travel plans

Gus Dur keeps Aceh off year-end travel plans JAKARTA (JP): President Abdurrahman Wahid announced on Wednesday plans to visit the troubled provinces of Maluku and Irian Jaya, but failed to set a firm date for a trip to Aceh. Speaking in a consultative meeting with the House of Representatives, the President said he would visit the strife- torn Maluku islands this weekend and fly to Irian Jaya to witness the first sunrise of the new millennium. "Either on Dec. 11 or Dec.

TNI 'needs support, not denunciation'

TNI 'needs support, not denunciation' JAKARTA (JP): Navy Chief of Staff Adm. Achmad Sutjipto called on Wednesday for an end to public denunciation of the Indonesian Military (TNI), saying it would uphold its defense mission. Sutjipto said now that separatist movements in certain provinces had posed a serious threat to the country's sovereignty, TNI should be given more support in order to maintain national unity.

ITI stops classes after student clash

ITI stops classes after student clash TANGERANG (JP): The authority of the Indonesian Institute of Technology (ITI) in Serpong decided on Wednesday to temporarily halt learning activities at the campus until Monday next week in a bid to lower tension between students from two rival schools at the institute. "We hope the day off can be a cooling down period for the warring students, especially in accordance with the beginning of the holy fasting month," said ITI rector Herkamoyo Sosrodiningrat.

The capital market versus the banking system

The capital market versus the banking system By I. Putu Gede Ary Suta This is the second of two articles on the capital market and the government's privatization policy. JAKARTA (JP): Some progress has been made in the development of the capital market despite weak government support. Between 1990 and 1997, the Capital Market Supervisory Agency (Bapepam) drafted sophisticated securities regulations that met international standards.

Bank Indonesia has Rp 96t in cash ready to counter Y2K bug

Bank Indonesia has Rp 96t in cash ready to counter Y2K bug JAKARTA (JP): Bank Indonesia deputy governor Aulia Pohan said on Wednesday the central bank was ready with some Rp 96 trillion (US$13.52 billion) in cash to anticipate a possible huge cash demand before the Year 2000 (Y2K) computer bug is predicted to strike. Pohan said the Y2K World Committee required all central banks to increase their cash supplies as part of the contingency plan to deal with Y2K.

Workers need to better their bargaining power

Workers need to better their bargaining power By Tjipta Lesmanaa JAKARTA (JP): The current picture of Indonesian workers is not that encouraging. Of the 90 million-strong workforce Indonesia currently has, roughly 60 million are engaged in the formal sector as well as in the informal sector. Forty million of them earn only Rp 150,000 to Rp 200,000 per month, far below the poverty line set by the National Statistics Bureau.

Amusement centers temporarily banned

Amusement centers temporarily banned MEDAN, North Sumatra: Medan Mayor Bachtiar Djafar ordered all entertainment spots to halt operations during the Muslim fasting month of Ramadhan, which begins on Thursday. The entertainment spots include discotheques, bars, karaoke houses, pubs, massage parlors and spas. The order was issued on Wednesday following pressure from ulema. "We don't want any disturbances such as attacks by angry residents to occur.

Jl. Thamrin to be closed temporarily

Jl. Thamrin to be closed temporarily JAKARTA (JP): Part of Jl. Thamrin, one of the city's main thoroughfares, will be temporarily closed from 10 p.m. to 5 a.m. on Thursday and Friday due to the construction of a pedestrian bridge in front of the Landmark building. The city land transportation agency was quoted by Antara as saying on Tuesday that the affected part of the road began at the Jl. Tanjung Karang intersection up to the Hotel Indonesia traffic circle.

Farmers win rights award

Farmers win rights award SURABAYA: The Legal Aid Foundation here presented the Nipah Award on Tuesday to Gambar farmers in Blitar for their persistent struggle to reclaim their land. Foundation head Arsori said the farmers won back last year the right to the 1,050 acres of land which was seized by the government in 1966 for a state coffee plantation. However, the government has returned only 168 acres.

Save the Omo Hada site

Save the Omo Hada site The North Sumatra Heritage (NSH) group is a non-governmental organization which focuses on development and cultural advocacy in Medan, North Sumatra. One of our agendas is campaigning for the preservation of Oma Hada, the royal palace complex in Hilinawalao Mazingo Village in Nias regency. Built in 1715 by Sihola Bu'ulolo, none of the buildings on the site have received serious conservation treatment and many suffer from leaking roofs and insect infestation.

Maluku governor declares 'cease-fire' in Ambon

Maluku governor declares 'cease-fire' in Ambon AMBON, Maluku (JP): Maluku Governor M. S. Latuconsina, declared a cease-fire and appealed for peace in the riot-torn province during the Muslim fasting month of Ramadhan and Christmas.

Stock Exchange

Stock Exchange Stock prices on the Jakarta Stock Exchange (in rupiah) on Dec. 08, 1999: Shares Close Change Trading Volume -------------------------------------------------------------- Ades Alfindo 1,125 -75 37,500 Alakasa Industrindo 700 0 0 Alter Abadi 425 -25 302,500 Alumindo Light Metal 1,075 -25 52,000 Aneka Kimia Raya 600 0 7,500 Aneka Tambang (Persero) 1,300 0 3,834,000 Anwar Sierad 275 -50 5,000 APAC Centertex Corp.

Contract bridge team to hold international warm up

Contract bridge team to hold international warm up JAKARTA (JP): The Indonesian Contract Bridge Association (GABSI) is holding the Bermuda Bowl and Venice Cup bridge simulations as a warm up for men's and women's national teams prior to both international events.

Bankruptcy suit filed against Polysindo

Bankruptcy suit filed against Polysindo JAKARTA (JP): Bank Inter Pacific filed a bankruptcy suit against publicly listed textile concern Polysindo Eka Perkasa at the Jakarta Commercial Court for failing to repay US$1.5 million in promissory notes, the plaintiff's lawyer said. Benny Harman from the law firm Abdul Hakim Garuda Nusantara & Partners told The Jakarta Post on Wednesday the promissory notes matured in May last year.

World major IT companies join technology exhibition

World major IT companies join technology exhibition JAKARTA (JP): The world's largest information technology companies are among the 33 corporations taking part in the Techno Pre-Eminence 1999 exhibition, which opened here on Wednesday. Participants at the fifth annual expo include cellular telephone makers Ericsson, Siemens, Motorola and Alcatel, mobile phone operators Telkomsel and Satelindo, and other information technology-related companies like Astra Graphia and Marconi.

13,000 police officers at ready for Ramadhan

13,000 police officers at ready for Ramadhan JAKARTA (JP): Jakarta Police chief Maj. Gen. Noegroho Djajoesman said on Wednesday some 13,000 officers would be deployed to secure the city during the Muslim fasting month of Ramadhan. "I want to ensure the safety of the capital during Ramadhan. "The police officers will be on guard beginning Thursday, the first day of the holy fasting month, through the end of January next year," Noegroho said after installing Col.

Bali's textiles reflect its cultural richness

Bali's textiles reflect its cultural richness By Mehru Jaffer DENPASAR, Bali (JP): Obviously Charlie Chaplin had not done his homework properly on the exuberant tradition of textiles in Bali when he visited in the 1930s. He was disappointed; it is reported that Bali was not quite the promiscuous island of his imagination, afloat with bare- breasted beauties.

British firms upbeat about Indonesian economy

British firms upbeat about Indonesian economy JAKARTA (JP): British business executives expressed confidence in the Indonesian economy after meetings with their local counterparts and top government officials on Wednesday. Members of a visiting British business delegation were impressed by the government's economic recovery plan, said cochairman of the Indonesia British Business Council Alan Jones.

Wiranto may be charged with 'omission'

Wiranto may be charged with 'omission' JAKARTA (JP): A government-sanctioned inquiry said on Wednesday that Gen. Wiranto could be charged with "omission" for allowing violence and destruction to continue in the ravaged territory of East Timor after the Aug. 30 self-determination ballot.

Astra sale by end March 2000

Astra sale by end March 2000 HONG KONG (Dow Jones): The Indonesian Bank Restructuring Agency said Wednesday it will likely complete the sale of its stake in PT Astra International (P.ASI) by the end of March 2000. "We have identified three or four genuinely interested bidders," IBRA Deputy Chairman Farid Harianto told reporters on the sidelines of a Euromoney conference in Hong Kong, confirming its sale of a 20 percent-30 percent stake should be completed in the first quarter.

Government in a bind in battling graft

Government in a bind in battling graft JAKARTA (JP): Coordinating Minister for Economy, Finance and Industry Kwik Kian Gie said on Wednesday that the new government was facing a dilemma in rooting out corruption in the country because of its huge scale. He said uncovering and prosecuting those involved in the billions of dollars of corruption at state banks alone would lead to a large number of businesspeople and bankers being imprisoned and runs the risk of crippling economic activities.

Malaysia deals with RI over 2006 Asiad

Malaysia deals with RI over 2006 Asiad KUALA LUMPUR (AFP): Malaysia is withdrawing its challenge to the incumbent Indonesian vice president of the Olympic Council of Asia (OCA) in exchange for Jakarta's support for its 2006 Asian Games bid, Bernama news agency said. The official agency, in a report late Tuesday, said Indonesian tycoon Bob Hasan had promised to seek support from fellow Southeast Asian countries for Malaysia's bid to host the Games if it opts out of the vice presidential contest.

People told to respect others during Ramadhan

People told to respect others during Ramadhan JAKARTA (JP): Minister of Religious Affairs Tolchah Hasan has made a plea to people of all faiths to mutually respect each other during the fasting month of Ramadhan, the date of which falls close to other religious milestones. Speaking in a nationally televised broadcast on the eve of the start of the fasting month which begins on Thursday, Tolchah called for a spirit of togetherness.

Sultan, rector read poetry

Sultan, rector read poetry YOGYAKARTA: Yogyakarta Sultan Hamengkubuwono X and the rector of state Gadjah Mada University, Ichlasul Amal, read their poetry during an arts performance which also featured noted stage actor W.S. Rendra. The event was held on Tuesday at the university's Graha Sabha Pramana auditorium as part of its Dec. 19 golden anniversary celebrations. "Don't compare my work with that of Rendra's.

Pelti announces team for next year's Davis Cup

Pelti announces team for next year's Davis Cup JAKARTA (JP): The Indonesian Tennis Association (Pelti) official in charge of athlete and regional development, Sujiono Timan, announced on Wednesday the tentative lineup for next year's Davis Cup. The six team members were announced as Dede Suhendar Dinata, Suwandi, Hendri Susilo Pramono, Sebastian DaCosta, Febi Widhiyanto and Edy Kusdaryanto.

Ryaas denies receiving bribe of Rp 500 million

Ryaas denies receiving bribe of Rp 500 million JAKARTA (JP): State Minister of Regional Autonomy Ryaas Rasyid denied on Wednesday accusations that he accepted a bribe of Rp 500 million to facilitate the election of Hasan Zein as governor of Bengkulu. "I have never received a single cent from Hasan Zein," Ryaas said during a media briefing at the home affairs ministry.

Where to go in Bali:

Where to go in Bali: Exhibitions * Painting Exhibition: The Grey Experience, by M. Firman Ichsan, at the Gallery of the Chedi in Ubud, until Dec. 27. * Sculpture Exhibition: Reflection by Nyoman Nuarta, at Agung Rai Museum of Art (ARMA), Pengosekan, Ubud, until Dec. 14. * Painting Exhibition, works of 135 artists, organized by 6 museums in Bali, at Agung Rai Museum of Art (ARMA), Pengosekan, Ubud, Dec. 20 to Jan. 15. Museums and Galleries * Blue Moon Gallery, Jl.

Bakrie one of 20 firms to get preshipment loans

Bakrie one of 20 firms to get preshipment loans JAKARTA (JP): The Bakrie Group revealed on Wednesday it was one of 20 companies which received preshipment loans from Bank Indonesia. The business group said in a statement it received the loans through state banks Bank Negara Indonesia (BNI) and Bank Ekspor Impor Indonesia (Bank Exim). In early February last year, the central bank provided US$38 million in preshipment financing through BNI and Rp 381 billion through Bank Exim, Bakrie said.

Up to court to move bombing suspect: Noegroho

Up to court to move bombing suspect: Noegroho JAKARTA (JP): Jakarta Police chief Maj. Gen. Noegroho Djajoesman said on Wednesday the city police were not responsible for extending the detention period of convicted Istiqlal Grand Mosque bomber Surya Setiawan who is still under police custody. He said the Central Jakarta District Court had yet to take Surya Setiawan, alias Wawan, out of police custody and put him in prison. "It's not our fault.

Design students turn to foil, lightbulbs

Design students turn to foil, lightbulbs JAKARTA (JP): Ask any fashion school student to create a dress from their own imagination. Abracadabra! You will be surprised by their wild ideas. Meet Dia Demona, a second year student from Esmod Jakarta, who interpreted her design for the millennium as a two-piece midriff mini dress with dozens of imitation clocks made of laser disks and compact disks in various sizes.

Conversion Rates

Conversion Rates Bank Indonesia's conversion rates on Dec. 08, 1999: Bank notes rates Buying Selling Rp Rp U.S.

Won defies govt steps and hits new high

Won defies govt steps and hits new high HONG KONG (Dow Jones): The South Korean won extended its winning run Wednesday, powering to a fresh two-year high despite continued government action to hold it back. The New Taiwan dollar also climbed to a new two-year high at the start of the day's trading, but surrendered its gains to end the session a touch lower on heavy central bank intervention. In Southeast Asia the Thai baht gained ground, rising against the U.S.

Liberian jailed for 15 years for heroin deal

Liberian jailed for 15 years for heroin deal JAKARTA (JP): A court sentenced on Wednesday a Liberian to 15 years in jail for involvement in a heroin transaction. Presiding judge I Gde Sumitra also ordered the defendant, Christian Chinnedu Ejionye, to pay a Rp 5 million (US$714) fine. "The defendant is guilty of dealing in drugs, which violates Article 82 of the 1997 law on narcotics," the judge said in a hearing at the Central Jakarta District Court.

Howard sets back RI-Canberra ties

Howard sets back RI-Canberra ties By Ikrar Nusa Bhakti JAKARTA (JP): Australia-Indonesia relations have always gone through their ups-and-downs, but they have never been as bad as their current state. In the last three months, the two countries' relationship dropped off to its lowest level. Again, East Timor was the central issue, and it has been since 1975. During the last three months, Australia has become a target of criticism in Indonesia, notably after the Aug.

Thank you Blue Bird

Thank you Blue Bird On the odd occasion that I have glanced at the Letters section -- normally to catch up on the latest installment of who is verbally attacking who -- I have not helped but notice the continual cascade of bad publicity directed toward taxi operators in Jakarta. Of the latter, I feel I must share my experience of last week as an indication that in some sectors of the industry, all is certainly not lost. On Dec. 2 I climbed into the back of a Blue Bird taxi (no.

Hard-up vendors say Idul Fitri will be spent far for home

Hard-up vendors say Idul Fitri will be spent far for home JAKARTA (JP): With business still bad for many sidewalk vendors, they are looking at the probability of not spending the post-fasting month holiday of Idul Fitri in their hometowns. Several vendors said on Wednesday that the trip home would be too expensive. For some, it is their second consecutive Idul Fitri far from their villages.

Malaysia aims to become top rubber products maker

Malaysia aims to become top rubber products maker KUALA LUMPUR (AFP): Malaysia, the world's third largest natural rubber producer, wants to become a top rubber products manufacturer to cut its imports bill, officials said Wednesday. The country imported some 850 million ringgit (US$223.68 million) worth of rubber products in 1998 and the figure is expected to rise to 900 million this year, said Malaysian Rubber Board chairman Alladin Hashim.

Ramadhan Time for Jakarta

Ramadhan Time for Jakarta Thursday Maghrib 6:02 p.m. Friday Imsak 3:58 a.m. Subuh 4:08 a.m.

Test cases for Marzuki

Test cases for Marzuki By reopening the investigation into alleged wrongdoings by former President Soeharto and declaring a number of Texmaco business executives suspects (in a case involving possible irregularities in acquiring bank credits) Attorney General Marzuki Darusman has reached a point of no return in our efforts to uphold the law. This, of course, is most laudable, provided that Marzuki succeeds.

Bank Putera needs Rp 200b to restart clearing

Bank Putera needs Rp 200b to restart clearing JAKARTA (JP): Bank Putera Multikarsa, hit by a massive run in recent days, needs at least Rp 200 billion (about US$28.5 million) to enable it to resume its clearing activities, a reliable source said on Wednesday. The source said Bank Putera incurred a negative balance of around Rp 200 billion with Bank Indonesia, and that it needed to inject the same amount of funds if it wanted to resume its clearing activities.

Tourist arrivals estimated to be slightly above target

Tourist arrivals estimated to be slightly above target JAKARTA (JP): Indonesia estimates 4.8 million tourist arrivals for the whole year, a 4 percent increase from the initial estimate of 4.6 million, I Gede Ardika, director general of tourism, said on Wednesday. "The first 10 months recorded 3.25 million tourist arrivals, but we expect the Christmas and New Year holidays to generate 1.6 million so that we'll still reach this year's target," he added.

Mob burns kiosks in rage over immorality

Mob burns kiosks in rage over immorality TANGERANG (JP): Hundreds of angry locals raided and burned 28 dimly lit kiosks which they believed had been used as prostitution dens at Sungai Tahang, Selembaran Jati village, Kosambi district here on Wednesday morning. No fatalities or injured parties were reported in the incident which took place at about 10:30 a.m.

AIDS activists try to spread the word

AIDS activists try to spread the word By Novan Iman Santosa KARAWANG, West Java (JP): Like many AIDS volunteers around the globe, Abdurrachman Saibun, 25, is busy at the end of the year preparing to commemorate World AIDS Day, which falls on Dec. 1.

Red lights put off at Kramat Tunggak

Red lights put off at Kramat Tunggak JAKARTA (JP): "In the name of Allah, I hereby declare from this moment the closure of Kramat Tunggak red-light district." So said Governor Sutiyoso in a modest ceremony held on Wednesday marking the closure of the 30-year-old Kramat Tunggak red-light district. Sutiyoso unveiled an inscription that stated the closure of the 11-hectare district -- which was home to approximately 1,600 prostitutes and 260 panderers -- by the Jakarta administration.