Indonesian Political, Business & Finance News

Archive: 17 February 1999

59 articles found

Rain makes a sunny source of income for some

Rain makes a sunny source of income for some By Stevie Emilia JAKARTA (JP): "Come over, take a look, this umbrella is very strong... it will protect you from La Nina," the vendor cried, displaying his merchandise in Blok M shopping area, South Jakarta. He must have been exaggerating as no umbrella is strong enough to stave off La Nina. But at least it can protect you from the rain.

National instability affects insurance companies' risk rates

National instability affects insurance companies' risk rates Today, liquidity and sale problems are more difficult than they were before the crisis. Both are impacts of the effects of an economic crisis on Indonesia's insurance industry. Riots and an unstable political climate have worsened the situation.

Civilian militia training begins without fanfare

Civilian militia training begins without fanfare JAKARTA (JP): After at least two postponements and with no advance word to the media, the first 3,000 recruits of the city's civilian militia have begun training, Jakarta Military Command spokesman Lt. Col. D.J. Nachrowi said on Tuesday. A modest ceremony marking commencement of training for the People's Security (Kamra) was held at the command's Rindam regimental headquarters in Condet, East Jakarta, on Feb.

24 missing in Idi Cut incident

24 missing in Idi Cut incident BANDA ACEH, Aceh: Rights activists said on Monday 11 people were killed and 24 others went missing in the Feb. 3 incident in Idi Cut, East Aceh, when a group of unidentified men in military fatigues opened fire on a crowd returning home from a separatist speech. Abdul Gani Nurdin of the Forum Peduli HAM organization said here that the most recent testimonies of East Aceh residents revealed that 24 people were still missing.

Bintaro Hospital apologizes

Bintaro Hospital apologizes The Bintaro International Hospital has followed up on the matters referred to in a letter published in your paper on Feb. 6, 1999, from Mr. Ferdy Madian. We would like to apologize to Mr. Madian for any perceived inconvenience he may have suffered. With respect to Mr. Madian's son injuring his foot, after a thorough inspection we were unable to find any offending materials which could have caused the injury.

Stock Exchange

Stock Exchange Stock prices on the Jakarta Stock Exchange (in rupiah) on Feb. 16, 1999: Shares Close Change Trading Volume ------------------------------------------------------------- Ades Alfindo 350 0 0 AHAP Insurance 400 0 0 Alter Abadi 275 0 364,000 Alumindo Light Metal 325 0 109,000 Alumindo Perkasa 125 0 0 Aneka Kimia Raya 175 0 0 Aneka Tambang 1,475 0 155,000 Anwar Sierad 75 0 0 Apac Centertex Corp.

Many RI farm exports not up to standard: Rahadi

Many RI farm exports not up to standard: Rahadi JAKARTA (JP): Minister of Industry and Trade Rahardi Ramelan acknowledged on Tuesday that many Indonesian farm products are still being rejected by importing countries mostly due their low quality.

Foreign media warned to watch it on coverage

Foreign media warned to watch it on coverage JAKARTA (JP): Governor Sutiyoso has called on the foreign press to do the capital and its inhabitants a favor by being more careful in reporting on the situation in Indonesia, especially Jakarta. Speaking in English in front of the 50 participants of the 2nd Asian-German Editors' Forum on Monday evening, the governor noticed that foreign news coverage on what was happening in Jakarta generally appeared to be negative and sensationalist.

Garuda hold off on fare hike despite fuel increase

Garuda hold off on fare hike despite fuel increase JAKARTA (JP): The national flag carrier Garuda Indonesia will not raise its airfares despite the recent increase in jet fuel prices, the airline company's president Abdul Gani said.

Obituary

Obituary Muslim leader Anwar Harjono died of a stroke at the Jakarta Islamic Hospital in the early hours of Tuesday. He was 76. Anwar, who was a noted senior Muslim politician, had spent a great deal of the last three years in the hospital with various illnesses. Survived by his wife Susilowati and nine children, Anwar was buried at the Tanah Kusir Public Cemetery in South Jakarta on Tuesday afternoon.

40 banks may be closed down on Feb. 27, Sjahril reveals

40 banks may be closed down on Feb. 27, Sjahril reveals JAKARTA (JP): The government may close down some 40 private banks on Feb.27 in a bold effort to restructure the country's battered banking industry, Bank Indonesia Governor Sjahril Sabirin said on Tuesday. Sjahril said that although government evaluation of the business plans submitted by the ailing banks had yet to be completed, the number of banks to be liquidated could be around that figure.

Decentralized education a must

Decentralized education a must By A. Chaedar Alwasilah BANDUNG (JP): All human rights are universal, indivisible, interdependent and interrelated. It stands to reason that the United Nations Organization has long established the UN Human Rights Commission.

Ginandjar, IMF discuss reform programs

Ginandjar, IMF discuss reform programs WASHINGTON (Dow Jones): Ginandjar Kartasasmita, Indonesia's coordinating minister for economics, finance and industry, said Monday after a meeting with IMF Managing Director Michel Camdessus that they discussed the challenges still facing the Indonesian government in its reform program, particularly combating corruption and devising a new "mechanism" for proceeding with corporate bankruptcies.

Successful election no guarantee of recovery

Successful election no guarantee of recovery JAKARTA (JP): A just and fair general election scheduled for June 7 this year is no guarantee for the recovery of the country's economy, economists say.

RI, Malaysia to maintain security in border areas

RI, Malaysia to maintain security in border areas JAKARTA (JP): Indonesia and Malaysia agreed on Tuesday to improve joint intelligence and patrol activities to maintain security in border areas. Minister of Defense and Security/Armed Forces Commander Gen. Wiranto and his Malaysian counterpart Dato Abang Abubakar revealed the plans at a media conference. They led their delegations to the 27th general border committee meeting here to discuss bilateral cooperation in security.

Caltex clarifies

Caltex clarifies We would like to clarify the information on PT Caltex Pacific Indonesia which appeared in an article related to the Duri cogeneration (cogen) project in The Jakarta Post on Feb. 8, 1999, entitled "Duri cogeneration project violates decree: Kuntoro". Caltex's values include always complying with Indonesia's laws and regulations, and Caltex firmly believes that it has done so in this case.

Indonesia sets out to bring in line ailing power sector

Indonesia sets out to bring in line ailing power sector TOKYO (Dow Jones): Indonesia's Ministry of Mines and Energy aims to restore the domestic power sector's financial viability through a restructuring program running through 2003, a senior ministry official said on Tuesday.

Charity box thief shot

Charity box thief shot JAKARTA (JP): A security guard shot a teenager in the thigh when he attempted to flee with a charity donation box from a jewelry shop in Aldiron Plaza shopping center in Kebayoran Baru, South Jakarta. City police spokesman Lt. Col. Zainuri Lubis identified the wounded suspect as Dede, 18, a resident of Brebes in Central Java. Lubis said the suspect broke into the Singgalang jewelry shop, belonging to Azwar Wahid, on the shopping center's first floor at about 2 a.m.

Draft law broaches Supreme Court independence

Draft law broaches Supreme Court independence JAKARTA (JP): The Supreme Court, often criticized for being weak in the face of the executive, is seeking independence and power as its top brass on Tuesday handed a draft law on the issue to the House of Representatives. As quoted by Antara, Justice Paulus E. Lotulung, who accompanied Chief Justice Sarwata and the other justices in the meeting with the House leaders, said the bill would serve as "input" for the House.

Please visit Yogyakarta

Please visit Yogyakarta Referring to the letter from Mr. Deddy B. Simanjuntak entitled "Sales pitch for Yogyakarta" in The Jakarta Post on Feb. 3, 1999, I fully agree that places like Yogyakarta are safest for visitors and there is a lot to see. In Yogyakarta one can see places of historical and cultural value such as Borobudur Temple and the magnificent Prambanan, Mendut and Kalasan temples.

Conversion Rates

Conversion Rates Bank Bali's conversion rates on Feb. 16, 1999: TT rates Bank notes rates Buying Selling Buying Selling Rp Rp Rp Rp U.S.

Solidarity under trial

Solidarity under trial The unrest on Haruku Island in Central Maluku will hopefully remind us, as a nation and as members of the human race, that disaster always brings suffering. What is involved is not only the figures on how many ruined buildings and damaged vehicles, but also, and more importantly, the human suffering caused by such unrest.

Lippo Life: Family financial planning

Lippo Life: Family financial planning A new insurance marketing strategy available is bancassurance, where an insurance product is sold with a bank product. Lippo Life, founded in 1983, has been successful in selling its products using this with Bank Lippo, with 6,000 policies sold per month through its products Warisan and Rejeki. The same success is being achieved with Arisan 100, a health insurance product giving policyholders the right solution during the crisis.

Blasts called bid to kill Karimov

Blasts called bid to kill Karimov TASHKENT (Reuters): Explosions which rocked the center of the Uzbek capital Tashkent on Tuesday were an assassination attempt against President Islam Karimov, state television reported. It said Karimov was not harmed in the blasts, which knocked out windows for several blocks around the central Independence Square. Residents said Karimov was in an emergency session with his government. Officials have described the blasts as a "terrorist act".

Rectors issue code for poll monitoring

Rectors issue code for poll monitoring By Ainur R. Sophiaan DENPASAR, Bali (JP): A national congress of rectors from dozens of institutions across the country issued a code of conduct which it suggested could be adopted by all volunteer poll monitors.

Train ram stalled minibus

Train ram stalled minibus JAKARTA (JP): A Cirebon-bound express train from Jatinegara station smashed into a public minibus stalled on the tracks at Pondok Kopi, East Jakarta, on Tuesday morning. There were no injuries because all the T-24 minibus passengers and the driver had alighted after it broke down. But the minibus was severely damaged and incident caused heavy traffic congestion in the area when onlookers and motorists crowded the site.

ASEAN worried about new member Myanmar

ASEAN worried about new member Myanmar By David Brunnstrom BANGKOK (Reuters): The Association of Southeast Asian Nations (ASEAN) has come to rue admitting military-ruled Myanmar as a member 18 months ago. The 30-year-old regional bloc now finds the behavior of one of its youngest members jeopardizing its relationship with, and much needed financial assistance from, its oldest dialogue partner, the European Union (EU).

A call for help

A call for help Nokia Mobile Phone is well-known for its innovations in launching new products, including competitive prices and product variations, including the colorful, changeable cover on the Nokia 5110. This is why Nokia beats all its competitors and leads Indonesia's cellular phone market. I, and most of my colleagues in my office, have used Nokia phones since its first edition, the Nokia 2010, and have had no problems until the Nokia 6110.

Tuberculosis and you

Tuberculosis and you The article "Number of TB-infected people expected to swell" in The Jakarta Post, Feb. 15, 1999, could perhaps give rise to a misconception. In the last paragraph, it quotes Deddy Ruswendi of the Ministry of Health as saying, "a TB carrier could easily transmit [TB] to at least 10 people, simply by talking with or coughing around them." This is true only of someone with active tuberculosis.

Unrest to continue, even if 'poll successful'

Unrest to continue, even if 'poll successful' JAKARTA (JP): Political violence would continue even if the June 7 general elections were successful, according to political observers Hermawan Sulistyo and Eep Saefulloh Fatah in a gloomy political forecast on Tuesday.

Five orangutans returned

Five orangutans returned SAMARINDA, East Kalimantan: Five orangutans kept in captivity by residents of Samarinda and Sangatta districts have been returned to the provincial office for the conservation of natural resources. The primates were discovered in a sweep conducted recently by the office, according to Nita Bustami of the Wanariset Samboja rehabilitation center for orangutans. Nita spoke of the growing, illegal primate trade.

Layoffs at state banks to be decided this month

Layoffs at state banks to be decided this month JAKARTA (JP): Finance Minister Bambang Subianto said on Tuesday that the policy governing the fate of the thousands of employees of four state banks which are to be restructured and merged would be decided at the end of this month. He said that downsizing would be needed to boost the banks' efficiency before they are brought together in the newly formed bank.

Golkar unveils four names for 1999/2004 presidency

Golkar unveils four names for 1999/2004 presidency JAKARTA (JP): Golkar is mulling B.J. Habibie, Gen. Wiranto, Ginandjar Kartasasmita and Muladi for its presidential pick, the ruling political grouping's chairman Akbar Tandjung said on Tuesday. Habibie appeared "the strongest candidate" of the four for Golkar in the presidential election scheduled in November, he said.

Former coach worries about new beach volleyball pairing

Former coach worries about new beach volleyball pairing JAKARTA (JP): A former national coach warned the Indonesian Volleyball Association on Tuesday the new beach volleyball pairing of Agus Salim and Iwan Sumoyo might not work well together because they share the same playing style. Dennis Taroreh, who trained the national beach volleyball team for the Asian Games last December, said both men were blockers and lacked defensive instincts.

ADB new president in town

ADB new president in town JAKARTA (JP): The new president of the Manila-based Asian Development Bank (ADB) Tadao Chino began his two-day official visit here on Tuesday. The Ministry of Finance said during his trip, Chino, who was installed last month, will visit President B.J. Habibie and his economic team. ADB has been committed to assisting Indonesia reform and restructure its financial sector and real sector, as well as supporting the poor affected by the economic crisis.

AIA Indonesia: More trusted during crisis

AIA Indonesia: More trusted during crisis No one expected the monetary crisis to have a positive impact on Indonesia's insurance sector. However, whether they realize it or not, the crisis has made people aware of their needs for life protection and protection from financial risk due to illness and physical incapacity, due to an increase in medical expenses. This situation has given Asuransi AIA Indonesia an abundance of policyholders.

Road to Indonesian democracy bumpy and full of pitfalls

Road to Indonesian democracy bumpy and full of pitfalls Dr. Kamal Hossain, a former foreign minister of Bangladesh, is an expert on elections and human rights affairs. He has conducted a number of pieces of research on elections; in Pakistan in 1989, Sri Lanka in 1990 and South Africa in 1994. The senior advisor to the Supreme Court in his country visited Indonesia recently at the invitation of the National Democratic Institute and had a talk with The Jakarta Post.

Gang robs German's house

Gang robs German's house JAKARTA (JP): Five armed robbers broke into a house belonging to a German in Kemang Prapatan, South Jakarta, and made off with foreign currency and jewelry totaling about US$2,000 late on Monday. According to police, the robbers arrived in a Kijang van and told the house's security guard, Sukardi, they were friends of his employer, identified as Jan Scaren. City police spokesman Lt. Col. Zainuri Lubis said the incident occurred at about 10:30 p.m.

Jakarta will be safe and sound during elections: Military

Jakarta will be safe and sound during elections: Military JAKARTA (JP): The Jakarta Military Command predicts no riots and disturbances will mar the June general election in the capital. Although there will be many more political parties competing compared to the three mainstays of the 1997 election, the capital will not be rocked by fresh unrest ahead of the poll thanks to the public's growing understanding of democracy, the command's spokesman Lt. Col. D.J. Nachrowi said on Tuesday.

Bank Bira to bring out rights shares in March

Bank Bira to bring out rights shares in March JAKARTA (JP): Publicly listed Bank Bira said on Tuesday that it needs at least Rp 3 trillion (about US$345 million) to meet the minimum 4 percent capital adequacy ratio (CAR). Bank Bira's president Bambang Panutomo said that the bank would issue rights shares next month to finance 20 percent of the required funds. The remaining 80 percent is expected to come from the government as part of its bank recapitalization program, he said.

Money changer robbed of Rp 500m in holdup

Money changer robbed of Rp 500m in holdup JAKARTA (JP): Onlookers and passersby at the busy area of Jl. Haji Agus Salim in Central Jakarta were stunned by a broad daylight robbery by four armed criminals in the front yard of a money changer on Tuesday. Witnesses said the robbers, riding two RX-King motorcycles, fired at least two shots to scare the people away as they effected their escape. No injuries were recorded.

East Timor exodus continues

East Timor exodus continues DILI (JP): The demand for containers is rising and at least 100 cars and 120 motorbikes have been sent out of East Timor by their owners since the government announced its plan to let go of the tiny province, local officials said on Tuesday. Head of the Dili Port Authority Noke A. Rahakbouw described how a large number of people, mostly migrants, were not only sending out vehicles but also other belongings such as TVs, refrigerators and furniture.

Indonesia mulls pullout from INRO

Indonesia mulls pullout from INRO JAKARTA (JP): Minister of Trade and Industry Rahardi Ramelan said on Tuesday that Indonesia soon might announce its withdrawal from the International Natural Rubber Organization (INRO), following an earlier announcement by Thailand of its decision to leave the organization. The minister said that the world rubber organization would no longer be effective because of the absence of Thailand and Malaysia, who also withdrew from INRO.

Five buried in landslide

Five buried in landslide DENPASAR, Bali: A landslide struck Gianyar on Tuesday morning, burying nine Belong Taro village women under mounds of dirt. Four of the women were rescued and rushed to Gianyar Hospital. The five who died were identified as Ni Made Sunu, Ni Wayan Sanget, Ni Made Jawi, Ni Wayan Reti and Ni Ubuh. The disaster was the second to hit Gianyar regency in the past two months.

NIAGA CIGNA Life: Toward a better life

NIAGA CIGNA Life: Toward a better life In today's economic crisis, insurance business activities are ongoing. It means that the insurance marketplace can be viewed as more promising than other industries. Asuransi NIAGA CIGNA Life, with its strong financial performance and services, has even been able to increase its customer base during the crisis. Asuransi NIAGA CIGNA Life's Director and Actuary Angger P.

Insurance -- providing safety in troubled times

Insurance -- providing safety in troubled times The insurance industry in Indonesia is looking to the developed world, where insurance is universal and considered a necessary part of life, as a model for its future growth. Massive riots which hit Jakarta and other major cities across the country in May 1998, and the ensuing economic crisis have been both a blessing and a curse to Indonesia's insurance companies.

Go fly a kite

Go fly a kite From Ummat magazine Why does Abdurrahman Wahid (popularly known as Gus Dur) give the impression of wanting to be contrary? When the majority of the Muslim community cast aspersions on Theo Syafei, Gus Dur came to his defense, saying that Theo Syafei had his merits.

A failing plan

A failing plan A few days ago, the director of the International Monetary Fund for Asia Pacific, Hubert Neiss, proposed the Indonesian government eliminate school fees for children in Indonesia. Actually, this plan would not run smoothly and would not give much help to parents. The government, in fact, launched the same program a few years ago, particularly targeting elementary and secondary schools.

RI-Australia forum in Bali

RI-Australia forum in Bali JAKARTA (JP): The Indonesia-Australia Business Council (IABC) and its sister organization the Australia-Indonesia Business Council will jointly host the one-day business forum, "Turning Crisis into Opportunity", in Bali on Feb. 23. IABC's president Sabam Siagian said forum participants would be briefed by officials and experts on the latest developments in Indonesia's economic and political outlook, privatization and bilateral business opportunities.

Govt urged to issue ruling to curb money politics

Govt urged to issue ruling to curb money politics JAKARTA (JP): Political observers and the Indonesia Forum for Environment (Walhi), called on Tuesday for a government regulation to curb money politics and enforce a code of conduct among parties to prevent violence ahead of this year's polls. Speaking in a discussion held by Walhi's Political Education Committee were Arbi Sanit and Mulyana W. Kusumah of the University of Indonesia, Suwoto Mulyosudarmo of Airlangga University and J.

Private schools shorten terms due to unrest fear

Private schools shorten terms due to unrest fear JAKARTA (JP): Several private schools in the city have decided to shorten their academic year and hold examinations ahead of schedule, to avoid disruption caused by possible unrest during the upcoming general election. The British International School on Jl. Jombang Raya in the Bintaro Jaya housing complex, for example, had modified its academic term so that it would adjourn on May 21 instead of July 9.

Troops fire as workers protest

Troops fire as workers protest SURABAYA: Troops fired warning shots and teargas on Tuesday to disperse stone-throwing workers protesting over pay and conditions, witnesses said. Reuters quoted them saying that more than 4,000 employees of household goods maker PT Maspion gathered at their factory to march to the provincial governor's office. Some of the workers threw stones at security forces blocking their way out of the factory grounds.

Being professional: A keys to success

Being professional: A keys to success Being selective in determining a market segment, and professional in assessing a risk, are characteristics that should be applied to the market strategy of insurance companies in Indonesia. If these are not followed, an insurance company may be having a difficult time competing effectively.

Rupiah sinks to 8,725 against dollar, local stocks up slightly

Rupiah sinks to 8,725 against dollar, local stocks up slightly JAKARTA (JP): The rupiah sank against the U.S. dollar on Tuesday in extremely thin trading, with most major operators absent on the Chinese New Year holiday. Currency dealers said the rupiah, despite opening stronger in a range of 8,450 to 8,500 against the greenback, fell back at the close to 8,725. They said trading turnover on the local foreign exchange market dropped 20 percent to US$40 million from $50 million the previous day.

Indonesia to keep Davis Cup lineup

Indonesia to keep Davis Cup lineup JAKARTA (JP): Indonesia will maintain its winning team for its Davis Cup Asia Oceania Group II second-round tie against the Philippines here in April. Chairman of the Indonesian Tennis Association Tanri Abeng, speaking to reporters after welcoming the players home from a victorious opening tie in Doha, said it would be impossible to change the lineup with less than two months before the match. "This is our dream team and we will maintain it.

Ambon needs another chopper

Ambon needs another chopper AMBON, Maluku: The local military has asked Minister of Defense and Security/Armed Forces (ABRI) Commander Gen. Wiranto to send a Superpuma helicopter to help quell rioting which has spread to other cities in the province. Riots first broke out in Ambon last month. Chief of the Pattimura Military Command Col. Karel Ralahalu was quoted by Antara as saying the two police helicopters sent earlier by Wiranto had a limited capacity and cruising range.

Special Force defendants deny torturing activists

Special Force defendants deny torturing activists JAKARTA (JP): Four of 11 members of the Army's Special Force (Kopassus) charged with abducting political activists last year denied on Tuesday claims of torture, and also disavowed involvement in a slew of unresolved abductions. Presiding judge Col.

S'pore minister criticizes job bias

S'pore minister criticizes job bias SINGAPORE (AP): A Cabinet minister said on Tuesday the government would not introduce legislation to end racial, gender or age discrimination in jobs, but urged the Chinese business community to educate employers against such practices.

RI has secured $4.4b in foreign loans: Bambang

RI has secured $4.4b in foreign loans: Bambang JAKARTA (JP): Finance Minister Bambang Subianto said on Tuesday Indonesia had secured US$4.4 billion out of the $6.32 billion in overseas loans needed to plug the 1999/2000 state budget deficit. Bambang said the World Bank and the Asian Development Bank have committed $1 billion each, while Japan has pledged an equivalent of $2.4 billion through the so-called Miyazawa Plan.