Indonesian Political, Business & Finance News

Archive: 19 February 1999

54 articles found

Trial reveals abductor, activist were schoolmates

Trial reveals abductor, activist were schoolmates JAKARTA (JP): One of the 11 members of the Army's Special Force (Kopassus) charged in the abduction of nine activists revealed on Thursday he was a senior of one of the abductees when they studied at a Yogyakarta university. Capt. Nugroho Sulistyo Budi said he had recognized one of the students, Andi Arief, to be abducted as a member of a later graduating class at Gadjah Mada University.

Locusts attack East Sumba

Locusts attack East Sumba WAINGAPU, East Nusa Tenggara: The savanna and steppes of East Sumba have turned black and brown after "trillions" of locusts attacked corn and paddy crops in the regency, Antara reported on Thursday. Regent Lukas Mb. Kaborang and head of the regency agriculture office Umbu Kaludang both agreed the problem was hopeless and the pest could no longer be overcome.

House OKs antimonopoly and unfair competition bill

House OKs antimonopoly and unfair competition bill JAKARTA (JP): Individual companies holding more than 50 percent of the domestic market run the risk of maximum Rp 100 billion (US$11.76 million) fines and jail terms for executives under the antimonopoly law passed by the legislature on Thursday. Designed to promote fair market competition, the law also bans two or three companies from holding 75 percent of the market between them.

Independent groups, donors to monitor safety net funds

Independent groups, donors to monitor safety net funds JAKARTA (JP): Following protests over a lack of transparency and suspected corruption in the disbursement of the social safety net fund, the government on Thursday said independent parties and donors would be involved in monitoring the fund to ensure it reached the needy. Coordinating Minister for People's Welfare and Poverty Eradication Haryono Suyono said after a Cabinet meeting on the safety net fund, led by President B.J.

Conversion Rates

Conversion Rates Bank Bali's conversion rates on Feb. 18, 1999: TT rates Bank notes rates Buying Selling Buying Selling Rp Rp Rp Rp U.S.

Habibie's record

Habibie's record President B.J. Habibie is going for a record of sorts which the publisher of the Guinness Book of Records might want to consider for its next edition. His administration has drafted about 20 bills and asked the House of Representatives to deliberate and endorse them before the June 7 general election.

'RCTI' postpones staff dismissals

'RCTI' postpones staff dismissals JAKARTA (JP): Privately owned television station RCTI decided to postpone planned dismissals following a meeting with employees on Wednesday. The station's public relations manager, Eduard Depari, said the dismissals were postponed until an agreement could be reached between management and employees.

Loss of hope in Maluku?

Loss of hope in Maluku? The New Order regime has fallen, but its feet are still firmly on the ground. Proof of this is the fact that our security apparatus has been unable to overcome the unrest in Maluku. On the face of it, the Maluku conflict was sparked by religious factors. However, if this were true, then religious strife would have occurred in the past, too. It cannot be far from the truth for observers to say that, here, political and economic factors play the greater role.

Ernst & Young tie up with local firms

Ernst & Young tie up with local firms JAKARTA (JP): Ernst & Young of the United States has entered into an alliance with two local accounting firms, Hanadi Rahardja and Sarwoko & Sandjaja, to benefit from the country's growing need for consultancy services. Ernst & Young Indonesia's Peter Knox said the alliance would allow the New York-based consultancy company to increase its number of Indonesian clients.

East Timor a test for Megawati

East Timor a test for Megawati By J. Leandro Elvas OPORTO, Portugal (JP): Since 1995, Indonesia's prodemocracy movement has stood firm in defending Megawati Soekarnoputri from Soeharto's attempts to boot her out of the political arena. Today, many still believe Megawati's party, the Indonesian Democratic Party of Struggle (PDI Struggle) is the party of the down-trodden, with a clear agenda for democratic reform. Now, Indonesian progressive groups should think better of their judgment.

Govt dismisses rumors on drastic hike in exit tax

Govt dismisses rumors on drastic hike in exit tax JAKARTA (JP): Director General of Taxation Anshari Ritonga denied on Thursday rumors that the government would raise the amount of the exit tax in a bid to deter a massive exodus of people fearful of a chaotic general election in June. "It's absolutely not true. We've never considered such a measure.

Investors eye coal in Kutai

Investors eye coal in Kutai JAKARTA (JP): Several investors are asking the government to remove the status of nature preserve from Kutai National Park in Bontang, East Kalimantan, to allow them to explore its huge coal deposits, an official said on Thursday. Herman Syafii, an official at Kutai National Park's preservation office, said the 198,629 hectare park was believed to contain enough high quality coal deposits "for 150 years of exploitation".

New book on rape cases

New book on rape cases BANDARLAMPUNG, Lampung: The Institute for Studies on Advocacy for Women and Children (ELSAPA) in Lampung, in cooperation with the Institute for Social and Economic Information, Education and Research (LP3ES), is preparing a special book on Human Rights and crimes of rape and terror perpetrated against women. The institution's spokesman, Ikram, was quoted by Antara as saying on Thursday that materials for the book were being collected including from seminars on the issue.

'Aviation Week' report criticized

'Aviation Week' report criticized SINGAPORE (AP): Singapore Airlines said on Thursday that a recent article in Aviation Week reporting that pilot suicide was the only possible cause of a 1997 SilkAir crash is speculative and unhelpful. The article in the Feb.

Political parties told to keep women voters in mind

Political parties told to keep women voters in mind JAKARTA (JP): Education, health and employment-related issues concerning women should be put on political parties' platforms if they wish to win over the majority of voters. "Parties need to concentrate on issues that directly touch women's problems such as education, violence against women, health and reproductive rights and equal job opportunities," noted lawyer Nursyahbani Katjasungkana told The Jakarta Post.

Malaysia takes another step toward easing capital controls

Malaysia takes another step toward easing capital controls KUALA LUMPUR (Reuters): The Malaysian government on Thursday took another step toward easing capital controls by excluding foreign investments in property from a new system of levies on repatriated principal and profit. The central bank, Bank Negara Malaysia, said in a statement that foreign investments in property would be immediately excluded from a new system of levies on repatriated principal and profit.

RI's net forex reserves rise to $15.25b

RI's net forex reserves rise to $15.25b JAKARTA (JP): Indonesia's net international reserves (NIR) increased to US$15.25 billion as of Feb. 15 from $15.09 billion on Feb. 5, according to the central bank's latest weekly report. Bank Indonesia, the central bank, said on Wednesday that the increase in the net foreign exchange reserves was attributed to the disbursement of a $159 million loan from the World Bank, one of the country's major donors and from oil and gas exports.

Imported hormone-implanted cattle supplies quality meat

Imported hormone-implanted cattle supplies quality meat By Mangku Sitepoe JAKARTA (JP): The government has recently decided to satisfy the rising demand for meat by importing meat and live cattle, which will, upon arrival here, be slaughtered. These live cattle, known as feeder cattle, are between 1.5 and two years of age and weigh a maximum of 350 kilograms. Feeder cattle are usually castrated in the exporting country.

Bank Putera needs Rp 40b

Bank Putera needs Rp 40b JAKARTA (JP): Foreign exchange Bank Putera needs some Rp 40 billion (about US$4.7 million) to lift its capital adequacy ratio (CAR) to the required 4 percent minimum level set by the government, bank president Masyhud Ali said on Thursday. He said the bank's CAR was minus 12.3 percent based on due diligence conducted by Price WaterhouseCoopers last year. CAR is the ratio between capital and risk-weighted assets.

Kiwi group to expand exports

Kiwi group to expand exports JAKARTA (JP): Footwear, health and baby care manufacturer Kiwi Brands Indonesia, a subsidiary of the American-based Sara Lee Corporation, announced a plan to export products to Australia and the Philippines on Wednesday. Kiwi managing director Don Gadsden said that the company would export 15 percent of its total output to the two countries this year. The strategy was prompted by the poorly performing domestic market.

Southeast Asian monies down

Southeast Asian monies down SINGAPORE (Dow Jones): Southeast Asian currencies have started the Year of the Rabbit on a weaker note on Thursday, after the U.S. dollar pushed dramatically higher against the yen in New York on Tuesday, when many regional markets were shut for Lunar new year celebrations. At late trading, the dollar was trading at Y118.85, well up from Y114.24 in late Asian trading Monday.

SE Asian firms urged to merge

SE Asian firms urged to merge MANILA (Reuters): The Philippines on Thursday urged Southeast Asian companies to merge, become multinationals and exploit planned tariff cuts to grow in the own regional market. "We have to be neighbor-oriented and look at the 500 million strong ASEAN market," Trade Secretary Jose Pardo said, referring to the combined population of the nine-member Association of Southeast Asian Nations.

Rupiah slides to 8,775 as local shares gain 1.4 percent

Rupiah slides to 8,775 as local shares gain 1.4 percent JAKARTA (JP): The local financial market closed mixed on Thursday, with the rupiah dipping further to 8,775 against the U.S. dollar while stock prices gained 1.4 percent. Currency dealers said the rupiah closed slightly lower against the greenback in thin dealing, dragged down by the Japanese yen's bearishness, currency dealers said.

Citibank to help kids return to school

Citibank to help kids return to school JAKARTA (JP): Citibank Indonesia marked on Thursday the start of its three-year education project to help dropouts return to school, an executive with the bank said. Ditta Amahorseya, head of corporate affairs at the bank, said the project, named Citibank Cares, is divided into three programs with a total budget of Rp 1 billion.

Police shoot dead two street criminals

Police shoot dead two street criminals JAKARTA (JP): Intensified police measures to combat suspected criminals -- 12 hoodlums have been shot this year already -- has failed to curtail street criminal activity. City police are inundated with scores of accounts of street robberies and extortions every day.

Philately expo to open

Philately expo to open SURABAYA: A national philately exhibition will be held here, March 4-8, with 160 philatelists from 20 provinces in Indonesia as well as from the Netherlands taking part. The latest exhibition was held in Ujungpandang, South Sulawesi with philatelists from 14 provinces taking part. In the upcoming event, PT Pos Indonesia will issue an exclusively printed "Malang Apple" souvenir sheet with stamps which can also be used as ordinary postage stamps.

Spotlight on Ingmar Bergman at Teater Utan Kayu

Spotlight on Ingmar Bergman at Teater Utan Kayu JAKARTA (JP): A number of qualified films by Swedish director Ingmar Bergman will be screened at Teater Utan Kayu, East Jakarta, this weekend. The three-day event is organized following the theater's success in showing films noirs last month. Previous fests have included works by Woody Allen, Zhang Yimou, Walt Disney animated movies and other alternative films mostly unavailable at mainstream movie theaters.

Leaked conversation is mostly obscure

Leaked conversation is mostly obscure JAKARTA (JP): The content of a purported conversation between President B.J. Habibie and Attorney General Andi M. Ghalib -- leaked by a number of media on Thursday -- did not appear to have compromised either official or state secrets for that matter. Based on a transcript printed by Pandji Masyarakat, the conversation appeared vague, full of incomplete sentences and interruptions -- typical in telephone talks.

Estrada disowns love child

Estrada disowns love child MANILA (AFP): Philippines President Joseph Estrada denied on Thursday having fathered a daughter by a former beauty queen, Miss Manila Rose Dungca, his spokesman said. The Philippines Inquirer newspaper on Thursday carried three pictures of Josephine Rose Ejercito, 18, who it said was crowned "Miss Caloocan" by a northern Manila suburb on Tuesday night. "She has the eyes of the Ejercitos," the Inquirer said of the tall young woman, referring to the president's clan.

Malaysian daily hit with $5m suit

Malaysian daily hit with $5m suit KUALA LUMPUR (AFP): Malaysia's opposition leader Lim Kit Siang said on Thursday he would file $5 million defamation lawsuit against a leading Malay-language daily. Lim said Utusan Malaysia's connection with the ruling United Malays National Organization (UMNO) was well-known. Prime Minister Mahathir Mohamad is the president of UMNO.

Hariyanto to miss All England

Hariyanto to miss All England JAKARTA (JP): Former world badminton men's singles champion Hariyanto Arbi said on Thursday he would skip the All-England championships in Birmingham, England, and opt for the subsequent Japan Open instead. "I won't compete in the All-England. I'll go to the Japan Open in April. Why? Nothing...," he said, without elaborating. Hariyanto is gearing up for the Grand Prix Finals in the Brunei capital of Bandar Seri Begawan from Feb. 24 to Feb.

ASEAN airlines set discount

ASEAN airlines set discount MANILA (AFP): Eight Southeast Asian airlines are teaming up to offer heavily discounted fares to at least three destinations in the region, Philippine Airlines (PAL) said Thursday. The Association of Southeast Asian Nations (ASEAN) "Air Pass" system is intended to boost travel and tourism within the region, the flag-carrier said in a statement.

25 firms cited as major water pollution sources

25 firms cited as major water pollution sources JAKARTA (JP): Major hotels and hospitals are among the 25 firms cited as the source of the bulk of the city's water pollution, including dangerous contaminated waste, an official has claimed.

Retno Maruti stages 'Sekar Pembayun'

Retno Maruti stages 'Sekar Pembayun' JAKARTA (JP): She is just married and looks happy, but deep in her heart, she is restless. She is torn between her love for her husband and her devotion to her father. She is Sekar Pembayun, daughter of Panembahan Senapati, founder of the 16th century Mataram Islamic Kingdom and Mataram dynasty.

Hoodlums' relatives will sue police over shooting

Hoodlums' relatives will sue police over shooting JAKARTA (JP): Relatives of two alleged hoodlums gunned down by police officers have decided to file lawsuits against the Jakarta Police for shooting suspects without due procedure, their lawyer said on Thursday. Lawyer Daniel Panjaitan of the Jakarta Legal Aid Institute said relatives of dead suspects Eko Opianto, 24 and Muhamad Samson, 16, have visited the institute to seek legal advice.

Phone leak rocks Habibie

Phone leak rocks Habibie JAKARTA (JP): President B.J. Habibie has called for a high level investigation into how a telephone conversation he had with Attorney General Andi M. Ghalib was leaked to the public. The order followed the publication of a transcript of the conversation in the latest issue of Pandji Masyarakat magazine which hit the streets on Thursday.

PT Maspion meets striking workers' demands

PT Maspion meets striking workers' demands JAKARTA (JP): Two weeks of daily labor protests in Sidoarjo, near the East Java capital of Surabaya, has forced the management of PT Maspion electronics and plastic manufacturer to raise allowances as demanded by its workers.

New Freeport royalty scheme effective this year: Rozik

New Freeport royalty scheme effective this year: Rozik JAKARTA (JP): Director General of Mining Rozik B. Soetjipto said on Thursday the government would receive higher royalties from PT Freeport Indonesia beginning this year in line with the company's plan to increase ore output at its copper and gold mine in Grasberg, Irian Jaya. "Freeport plans to mine 220,000 tons per day (tpd) of ore this year.

ADB to subsidize interest

ADB to subsidize interest TOKYO (Dow Jones): A Japan-funded Asian Development Bank facility aimed at easing the region's currency crisis will provide credit guarantees and interest rate subsidies, the Nihon Keizai Shimbun reported in its Thursday morning edition, citing Nalin P. Samarasinghe, resident representative of the ADB's Japan office.

PPP, Golkar and PDI register for June 7

PPP, Golkar and PDI register for June 7 JAKARTA (JP): Three established political parties -- the United Development Party (PPP), Golkar and the Indonesian Democratic Party (PDI) -- joined the more than 100 new political parties on Thursday registering with the Ministry of Justice for the upcoming general election. Under the new law on political parties, the three parties automatically qualify to register with the ministry.

Stock Exchange

Stock Exchange Stock prices on the Jakarta Stock Exchange (in rupiah) on Feb. 18, 1999: Shares Close Change Trading Volume ------------------------------------------------------- Ades Alfindo 350 0 0 AHAP Insurance 400 0 0 Alter Abadi 275 0 0 Alumindo Light Metal 325 0 65,000 Alumindo Perkasa 125 0 0 Aneka Kimia Raya 175 0 0 Aneka Tambang 1,500 0 356,500 Anwar Sierad 75 0 0 Apac Centertex Corp.

'Charity film for Kupang'

'Charity film for Kupang' Referring to the article "Charity film for Kupang" in The Jakarta Post on Feb. 13, KOTAK would like to give some clarification and further information as follows. "Two hours for Kupang", a premier activity from KOTAK, was a series of humanitarian activities. Invitations to the event were not for sale; the funds were raised through donations from concerned members of communities in Jakarta as well as in other areas.

Bali International Finance sued

Bali International Finance sued JAKARTA (JP): Hong Kong-registered Bali International Finance Ltd. was sued at the West Jakarta District Court here for what the plaintiff, Mrs. Gina Widjaja, claimed to be a legally flawed indemnity and guarantee agreement the company entered into with her husband, Bambang Sutrisno. According to Prastowo, the lawyer who filed the lawsuit for Mrs.

Irianese mull snub of general election

Irianese mull snub of general election By Neles Tebay JAYAPURA, Irian Jaya (JP): Irianese groups have threatened to boycott the June 7 general election if the national dialog with President B.J. Habibie, planned for Feb. 26, fails to heed their aspiration for independence. In fact, "thousands of Irianese has already decided to boycott the upcoming general election", said Theys H.

Critic fire off on shoot-on-sight order against protesters

Critic fire off on shoot-on-sight order against protesters JAKARTA (JP): University students, human rights activists and lawyers strongly oppose the police's shoot-on-sight order, saying that it would impede democracy by preventing citizens from exercising their right to demonstrate and voice their aspirations. Those contacted by The Jakarta Post on Thursday insisted that the severity of the order would only tarnish the image of the Indonesian police, both here and overseas.

Army chief meets Myanmar generals

Army chief meets Myanmar generals YANGON (Reuters): Thai army chief Gen. Surayuth Chulanont has met the military rulers of neighboring Myanmar in an effort to patch up relations strained by armed clashes over disputed territory. The official Myanma News Agency said Chulanont met his Myanmar counterpart Gen. Maung Aye, head of the military government Senior Gen. Than Shwe and chief of military intelligence Lt. Gen. Khin Nyunt after his arrival on Wednesday.

Minister balks at House furor on recapitalization

Minister balks at House furor on recapitalization JAKARTA (JP): Finance minister Bambang Subianto fought back on Thursday at legislators sniping and stalling on the government bank recapitalization program designed to restructure the ailing industry. Bambang insisted that the government would continue with plans to provide up to 80 percent in recapitalization funds for ailing banks in a bid to preserve the country's shaky payment system.

Tout gets one year in jail for stabbing

Tout gets one year in jail for stabbing BOGOR (JP): Bogor District Court has sentenced a 20-year-old man who worked as a tout for public minibuses to one year in jail for stabbing a passenger who attempted to break up a fight between him and another man. Presiding judge Sri Koestati told the court on Thursday that defendant Iwan Sabuno was guilty of seriously injuring Jefri Ricardo on Oct. 20 last year at the intersection of Jl. Semeru and Jl. Mawar.

Safety net program

Safety net program From Merdeka We, Indonesian non-governmental organizations grouped in INFID, would like to declare our stance on the implementation of the social safety net program. We would like to remind the government that the funds for the program mostly come from loans which must be repaid and managed in a manner that accurately hits the target and are accountable. We feel the credibility of the Indonesian government is at stake in the implementation of this program.

Explosion rocks Ambon again

Explosion rocks Ambon again JAKARTA (JP): An explosion believed to have been caused by a bomb again rocked the riot-torn capital of Ambon in Maluku, creating panic but leaving no casualties or damage, Antara reported on Thursday. The explosion took place in Batu Merah village in Sirimau district at about 1 a.m. Thursday. It could be heard on a radius of up to four kilometers, witnesses said.

Minimum wages will increase by 16%

Minimum wages will increase by 16% JAKARTA (JP): The government announced on Thursday an increase in monthly regional minimum wages by an average of 16.7 percent. Higher increases will also be set in different sectors and subsectors, especially those less affected by the economic crisis. The measure will go into effect on April 1, according to Director General for Industrial Relations and Labor Standards Syaufii Syamsuddin.

Downer to meet with Habibie and Xanana

Downer to meet with Habibie and Xanana JAKARTA (JP): Australian Minister of Foreign Affairs Alexander Downer is to meet with President B.J. Habibie and jailed East Timorese rebel leader Jose Alexandre "Xanana" Gusmao for intensive discussions on the future of the territory when he visits Jakarta on Feb. 25. Even as the plan for the visit was announced in Canberra on Thursday, signs of tension prevailed in East Timor.

Timor can be 'converted into a state firm'

Timor can be 'converted into a state firm' JAKARTA (JP): Minister of Trade and Industry Rahardi Ramelan said here on Thursday that PT Timor Putra Nasional could be taken over and converted to a state firm if the controversial car producer did not settle its debt with the government. "If the government confiscates the company's assets, the company must continue operating.

Where to go in Jakarta:

Where to go in Jakarta: Exhibitions * Hasselblad Charity Photo Exhibition by members of Hasselblad Society of Indonesia, at Plaza Senayan, Jl. Asia Afrika, Central Jakarta, Feb. 20 to March 6. * Painting Exhibition: by Lie Tjoen Tjay, Galeri Linggar, Jl. Kemang Timur No. 36, South Jakarta (Phone: 7990008), until Feb. 28. * Painting Exhibition: The Life is Short, the Art is Eternal, by Ahmad Sadali and Antok, at Anton's Gallery, Jl. Taman Pendidikan No.