Indonesian Political, Business & Finance News

Archive: 5 February 1999

51 articles found

Jailed Hanbo boss gave cash to ex-president

Jailed Hanbo boss gave cash to ex-president SEOUL (AFP): The jailed former head of South Korea's bankrupt Hanbo Group said on Thursday he had given former president Kim Young-sam 12.8 million dollars to fund his successful election campaign in 1992. The bombshell allegations immediately prompted a furious rebuttal by Kim, who branded the claims groundless.

Seven injured in latest round of Maluku violence

Seven injured in latest round of Maluku violence By Budiman Moerdijat AMBON, Maluku (JP): Seven people were injured in another communal riot in the district of Kairatu on nearby Seram Island on Wednesday, police said on Thursday. Dozens of houses and a market were razed in the latest incident in a spate of violence which has rocked the province since Jan. 19. Maluku Police spokesman Maj. Jekriel P.H. told reporters that the unrest was triggered by a fight between two locals.

New law cuts funding sources of Golkar

New law cuts funding sources of Golkar JAKARTA (JP): The new law on political parties has cut the traditional sources of funding for the ruling party Golkar: contributions from civil servants and state companies and government contractors. While Golkar could, under the law, still solicit money from individuals and corporations, their contributions are not automatic as they used to be.

Ragunan animals die from malnutrition

Ragunan animals die from malnutrition From Neraca I recently heard that a number of animals at the Ragunan zoo in South Jakarta fell ill and died. One of them was a cute hippopotamus. The story of this animal from the Nile in Egypt was similar to that of other animals which died in the same zoo, among them three white tiger cubs, seven tapirs, six birds of paradise, three tigers, one camel, five bulls, three orangutans and ten proboscis monkeys.

Govt to close more banks later this month

Govt to close more banks later this month JAKARTA (JP): Minister of Finance Bambang Subianto said on Thursday that the government would close down more banks this month in an effort to reform the country's ailing banking industry. However, he stressed that depositors had no reason to panic because all deposits at the closed banks would be fully guaranteed by the government.

The Kosovo model for East Timor

The Kosovo model for East Timor It is not often that anything from the turbulent Balkans can be cited as a model for others to follow. But pending terms for ending civil war in the Yugoslav province of Kosovo suggests what might be done about the equally troubled Indonesian region of East Timor. Thoroughly tired of Kosovo's dangerous civil war, Western allies ordered its factions to negotiate a cease-fire promptly, providing great autonomy while keeping it within Yugoslavia legally.

Habibie rules out referendum in East Timor

Habibie rules out referendum in East Timor JAKARTA (JP): President B.J. Habibie ruled out on Thursday a referendum in East Timor as an option to decide on the future of the province, in spite of foreign and domestic pressures, including from many East Timorese. The latter insist that this should be pursued first before separation from Indonesia.

Who should be educating a better generation?

Who should be educating a better generation? By Arkiman Racheman MEDAN (JP): In a recent meeting with state Islamic school teachers in Yogyakarta, Minister of Religious Affairs A. Malik Fadjar asserted that a tremendous crisis was hitting the educational system in Indonesia (Kompas, Nov. 1, 1999). He identified the primary cause as the shrinking number of guru (Indonesian for "teacher"), as opposed to pengajar (literally "anyone who teaches"), in our secondary schools.

ABRI holds leadership meeting

ABRI holds leadership meeting JAKARTA (JP): The Armed Forces (ABRI) held a top level meeting on Thursday, bringing together senior Army, Navy, Air Force and National Police officers from across the country. Antara reported late on Thursday that the lack of adequate intelligence information in the run-up to a number of recent riots was among items on the agenda for the three-hour closed meeting which began at 2 p.m.

Elderly woman trapped in fire

Elderly woman trapped in fire JAKARTA (JP): A 68-year old woman lost her life after being trapped in a fire which destroyed her house on Jl. Mawar Merah, Pondok Kopi, East Jakarta on Thursday. The victim, identified as Julimar, was alone at the house when the fire broke out at 11 a.m., a relative of the victim said. "Julimar was sick and tried to save herself in the bathroom but the fire still overwhelmed her," the relative said at the morgue of the Cipto Mangunkusumo General Hospital.

Accor expands into China

Accor expands into China SYDNEY (Dow Jones): Accor Asia Pacific Ltd., a unit of French hotel conglomerate Accor Ltd. said on Thursday it will add several hotels to its existing five in China. The first hotel planned for opening will be Sofitel Zhengzhou, a 400-room property in the capital city of Henan, Accor Asia said in a statement. It is set for opening in June. Accor Asia will also sign a management contract for a new Sofitel under construction in Jinan, the company said.

Malaysia eases capital controls with 'exit tax'

Malaysia eases capital controls with 'exit tax' KUALA LUMPUR (Agencies): Malaysian Finance Minister Daim Zainuddin announced Thursday an "exit tax" to allow foreign investors to take out their proceeds from the sale of securities, in a partial easing of capital controls. "The new policy will allow portfolio investors to repatriate their capital and profits as well as encourage new capital inflows into the country," Daim said in a statement.

New immigration chief installed

New immigration chief installed JAKARTA: Minister of Justice Muladi inaugurated Thursday Maj. Gen. Muhammad Mudakir as the new director general of immigration, replacing Maj. Gen. (ret) Pranowo. The ceremony put paid to reports that former military secretary at the president's office, Lt.Gen. Jasril would fill the post, Antara reported.

Habibie enacts three new political laws

Habibie enacts three new political laws JAKARTA (JP): President B.J. Habibie has enacted three political laws around which the general election in June will be organized, effectively foreclosing any further revisions.

Street vehicle robbers busted

Street vehicle robbers busted JAKARTA (JP): Two men were arrested in separate places on Thursday for respectively attempting to rob a Kijang van and a motorcycle from the owners, an officer said. Jakarta Police spokesman Lt. Col. Zainuri Lubis told reporters that the first suspected vehicle thief, identified as Hendrik Jayadi, was apprehended at 1 a.m. on Jl. Raya Pademangan, North Jakarta by dozens of local residents.

No letup soon for RI property woes

No letup soon for RI property woes JAKARTA (JP): The country's property sector will remain sluggish this year as political uncertainty continues to cast a shadow over the industry, according to First Pacific Davies Savills (FPDSavills) property consulting company. A technical adviser at FPDSavills, Jay Smith, estimated on Thursday that there would be no growth in demand in the property sector this year because of political uncertainty.

Stock Exchange

Stock Exchange Stock prices on the Jakarta Stock Exchange (in rupiah) on Feb.4, 1999: Shares Close Change Trading Volume ------------------------------------------------------------- Ades Alfindo 350 0 0 AHAP Insurance 400 0 0 Alter Abadi 275 -25 50,000 Alumindo Light Metal 250 0 15,000 Alumindo Perkasa 125 0 0 Aneka Kimia Raya 200 0 0 Aneka Tambang 1,550 25 8,927,000 Anwar Sierad 75 -25 3,000 Apac Centertex Corp.

Workers rally for better welfare

Workers rally for better welfare TANGERANG (JP): At least 75 workers from jeans dyeing and washing firm PT Garmenindo Jasa Pratama in Jatiuwung district here staged a rally on Wednesday to demand welfare improvements. They marched eight kilometers from their factory in the Kroncong industrial estate to the Tangerang office of the Ministry of Manpower. They demanded a wage increase and a reduction in their work shifts from three a day to two.

SE Asian currencies down against dollar

SE Asian currencies down against dollar SINGAPORE (Dow Jones): Southeast Asian currencies were down in subdued trading late on Thursday as the U.S. dollar staged a rebound against the yen, following an overnight decision by the U.S. Federal Reserve to leave U.S. interest rates unchanged at 4.75 percent. At 09:00 GMT (4:00 a.m. EST), the U.S. dollar was trading at 113.77 yen, well up from 112.35 yen late Wednesday. Although a number of traders and economists expect the U.S.

Let East Timor be free

Let East Timor be free From Pikiran Rakyat The East Timor question has recently made headlines following the Indonesian government's latest proposal to let go of East Timor if its offer of autonomy is rejected. I fully agree that East Timor should be excluded from Indonesia's territory. This small region has for all these years been a source of protracted conflict. Efforts to settle this question, even at the United Nations level, have been dragging on without any certainty for too long.

Withhold funding to East Timor

Withhold funding to East Timor The Directorate General of Taxation has always said that taxes are used to finance our country's development. In the past 23 years, the taxes we paid have partly been used for the development of East Timor. I have nothing against this allocation, because East Timor is part of the Republic of Indonesia.

Danareksa gets award

Danareksa gets award JAKARTA (JP): State-owned investment company PT Danareksa has won the Restructuring Deal of the Year Award from International Financing Review (IFR) Asia magazine. Danareksa was the first Indonesian firm to completely restructure its debts, according to the magazine. "The company who completed a restructuring process in 9 months, has set a good precedent and proved that restructuring in Indonesia can be achieved," IFR Asia said in a statement.

'Give Dili control over Timor Gap oil'

'Give Dili control over Timor Gap oil' By Angela Romano BRISBANE, Australia (JP): A senior Australian politician called on Indonesia on Thursday to pass control of Timor Gap oil resources, valued at billions of dollars, to the Timorese as a stepping stone toward self-determination.

KL keeps mum on new police chief

KL keeps mum on new police chief KUALA LUMPUR (AFP): Malaysia has yet to decide on a successor for former police chief Abdul Rahim Noor, a minister said on Thursday, as an opposition leader warned further delays might affect the moral of the police force. Rahim, 56, quit on Jan. 8 after a report by the attorney- general blamed police for injuries suffered by former deputy premier Anwar Ibrahim under police custody following his arrest in September. The case of Anwar, who was sacked on Sept.

Timber theft rises in growing crisis

Timber theft rises in growing crisis JAKARTA (JP): Timber theft and looting of forests owned by state firms in Java rose significantly last year as the country's economic crisis worsened, according to state forestry firm Perum Perhutani. Perhutani president A. Fattah DS said in Bojonegoro, East Java, on Tuesday that the amount of timber stolen in Central Java alone was over 888,000 logs during 1998, compared to 124,000 logs in 1997.

Benefits of a peaceful separation

Benefits of a peaceful separation Recent discussions about autonomy or independence for East Timor have largely ignored the enormous economic benefits that could result from this kind of change, if it occurs peacefully. An autonomous or independent East Timor would be a magnet for tourists who are drawn to unique, exotic cultures. Goa and Macao, the other former Portuguese colonies in Asia, derive a large percentage of their incomes from tourism.

Military helps in Rawa Burung

Military helps in Rawa Burung TANGERANG (JP): The Jakarta Military Command launched on Wednesday a program to improve infrastructure in Rawa Burung village, Teluk Naga district. At least 50 soldiers will be deployed to help local residents clean up gutters and renovate a mosque, resurface an 800-meter stretch of road and repair a public toilet, the command's chief of staff, Brig. Gen. Achmad Yahya, said.

Emergency fund must be use properly: Mayor

Emergency fund must be use properly: Mayor BOGOR (JP): Mayor Eddy Gunardi handed over a Rp 2.52 billion state-sponsored emergency fund on Thursday to representatives of Bogor's 68 villages and subdistricts, reminding them to make sure its allocation was fair and honest, and that it went to the rightful people.

RP jails brace for riots on execution day

RP jails brace for riots on execution day MANILA (Agencies): Prisons across the Philippines are on the alert for riots, breakout attempts and other troubles on Friday when convicted rapist Leo Echegaray becomes the first person to be executed in 23 years. "We're already on red alert," Gregorio Agaloos, superintendent of the national penitentiary in southern Manila, told local television on Thursday.

ASEAN sets surveillance

ASEAN sets surveillance HONG KONG (Dow Jones): The Association of Southeast Asian Nations will begin setting up an economic-surveillance mechanism for the region at a high-level meeting in Manila Tuesday, according to a senior ASEAN official.

Sutiyoso against plan on fund collection

Sutiyoso against plan on fund collection JAKARTA (JP): Governor Sutiyoso expressed concern on Thursday over city-owned market management company PD Pasar Jaya's plan to collect money for renovations from traders at traditional markets that were burned and destroyed during the May riots. "Those who dare (to burden the traders) will risk facing me because I have repeatedly told my subordinates that my general policy is to avoid anything that makes people suffer," he said.

Eight killed in Salatiga landslide

Eight killed in Salatiga landslide SALATIGA, Central Java: Eight people were feared dead as they were buried alive while nine others were injured following a landslide in Gemawang village, Jambu district, Salatiga. The landslide occurred after heavy downpours in the area Wednesday afternoon, leaving three houses buried.

Economists urge transparency in recapitalization

Economists urge transparency in recapitalization JAKARTA (JP): Economists defended the disputed recapitalization program on Thursday, but urged the government to be transparent in the selection of participating banks to prevent a public outcry and suspicion over its credibility. Transparency is vital for the government to gain support for the costly scheme to keep afloat the country's beleaguered banks, they said.

Jakarta slum areas growing due to crisis

Jakarta slum areas growing due to crisis JAKARTA (JP): The slum areas in the capital have sharply expanded within the last 12 months due to the severe impact of the prolonged economic crisis, and now cover 106 subdistricts as compared to only 58 subdistricts in January last year, an official said on Thursday.

U.S. topped Japan as biggest buyer of RI products last year

U.S. topped Japan as biggest buyer of RI products last year JAKARTA (JP): The United States topped Japan as the largest importer of Indonesian products in the first 10 months of last year, according to government data. The Central Bureau of Statistics' January report shows that non-oil and gas exports to America rose by 0.94 percent in the January to October period last year to US$5.63 billion from $5.57 billion.

Brunei sticks to planned 21 events for SEA Games

Brunei sticks to planned 21 events for SEA Games JAKARTA (JP): Host Brunei Darussalam is refusing to budge from its plan to stage 21 events at the 20th Southeast Asian (SEA) Games in August, despite renewed calls by participating countries for 10 additional events, an official said Thursday. The secretary-general of the National Sports Council (KONI), Rudolf Warouw, said the disagreement would highlight a plenary meeting of the region's sports leaders in the near future.

Badminton medalists to get bonus

Badminton medalists to get bonus JAKARTA (JP): The Badminton Association of Indonesia (PBSI) will present cash bonuses totaling Rp 512.5 million (US$60,300) on Friday to medal-winning players from the 13th Asian Games last December. PBSI chairman Subagyo Hadisiswoyo will officiate at the presentation at the national badminton center in Cipayung, East Jakarta.

Conversion Rates

Conversion Rates Bank Bali's conversion rates on Feb. 4, 1999: TT rates Bank notes rates Buying Selling Buying Selling Rp Rp Rp Rp U.S.

Myanmar junta host of labor meet

Myanmar junta host of labor meet YANGON (DPA): Myanmar, notorious for the use of forced labor and other workers' rights abuses, has been chosen to host an upcoming meeting of Association of Southeast Asian Nations (ASEAN) labor ministers, news reports said on Thursday. "The 13th ASEAN Labor Ministers meeting will be the first ASEAN ministerial-level meeting to be held in Myanmar," said Lt. Gen.

U.S.-based RI businesses aid E. Jakarta orphanages

U.S.-based RI businesses aid E. Jakarta orphanages JAKARTA (JP): Two city-owned Tunas Bangsa orphanages in East Jakarta have received the first in a series of monthly supplies donated by the Indonesian business community in Houston, Texas, USA. The supplies -- snacks, medicine and food supplements -- were handed over by the Indonesian consul general in Houston, Siswadi Harjowijoyo, during modest ceremonies at the two orphanages on Thursday.

Demonstration accompanies Tutut questioning

Demonstration accompanies Tutut questioning JAKARTA (JP): About 500 people demonstrated on Thursday at the Attorney General's Office, demanding fair treatment for former president Soeharto as his eldest daughter was questioned inside. Siti Hardiyanti Rukmana appeared for the first time in connection with the corruption investigation into her father's activities as treasurer of one of an array of foundations under his control.

Rp 200m lost in chicken farm fire

Rp 200m lost in chicken farm fire TANGERANG (JP): A fire gutted a chicken and duck farm belonging to a Klebet villager in Mauk district on Thursday morning. No fatalities were recorded but the fire, which occurred around 2:30 a.m., burned all four stalls and 33,000 chickens and ducks, causing owner Ahmad Sobari a total loss of some Rp 200 million. It also incinerated 10 tons of food for the chickens and ducks.

Bus terminal back in business after violence

Bus terminal back in business after violence JAKARTA (JP): The busy Kampung Rambutan bus terminal in East Jakarta returned to normal on Thursday after fierce clashes between rival ethnic groups forced it to shut down the previous evening. Although a reduced number of buses served fewer passengers than normal, many aspects of life in the terminal had returned to normal.

Calls for disarmament of Timor civilians abound

Calls for disarmament of Timor civilians abound JAKARTA (JP): Leading figures from East Timor have called on the Armed Forces (ABRI) to withdraw around 100 guns which it has said it distributed among civilian gangs supportive of continued integration with Indonesia. Dili Bishop Carlos Felipe Ximenes Belo and jailed East Timorese rebel leader Jose Alexandre "Xanana" Gusmao were among leading figures from the province who renewed calls for the military to disarm the gangs on Thursday.

Former soldier shot dead for robbery in Tangerang

Former soldier shot dead for robbery in Tangerang TANGERANG (JP): Police have shot dead a former soldier suspected of committing a series of robberies in Tangerang and Jakarta, an officer said. Tangerang Police chief Lt. Col. Puji Hartanto said the former sergeant, identified as Cucu Syamsudin, 45, was shot dead on Jl. Raya Cikande in Serang here on Wednesday. He was believed to have been the leader of a gang suspected of committing eight robberies in recent years.

More deaths feared in Aceh unrest

More deaths feared in Aceh unrest JAKARTA (JP): More deaths are feared following the latest round of Aceh violence early Wednesday which involved some 20,000 people, as the Legal Aid Office in the provincial capital said families had buried 12 civilians. As of Thursday around 500 people were still searching for missing relatives in fear of their bodies having been thrown into the local Arakondo river, Yakob Hamzah of the Iskandar Muda Legal Aid office said.

Rupiah falls against greenback as stock prices inch down

Rupiah falls against greenback as stock prices inch down JAKARTA (JP): The rupiah failed to advance its leeway against the U.S. dollar on Thursday, closing nearly 3 percent lower to Rp 8,700 to the dollar as stock prices inched down 0.3 percent. Currency dealers said the rupiah, which managed to shoot up to 8,450 to the dollar on Wednesday, suffered another setback after offshore operators sold the currency for dollars.

Where to go in Jakarta:

Where to go in Jakarta: Exhibitions * World Press Photo Exhibition, at Erasmus Huis, Jl. H.R. Rasuna Said, Kav S-3, Kuningan, South Jakarta (Phone: 5252321), Monday to Friday, 9 a.m. to 5 p.m., Saturday, 9 a.m. to 12 p.m., until Feb. 11. * Painting Exhibition: Restrospektif Popo Iskandar, at Galeri Nasional, Jl. Medan Merdeka Timur 14, Gambir, Central Jakarta (Phone: 3813021, 3848791), until Feb. 15. * Painting Exhibition: Narti, at World Trade Center, Jl. Jend. Sudirman Kav.

Ministry warns of pneumonia outbreak

Ministry warns of pneumonia outbreak JAKARTA (JP): The Ministry of Health warned Wednesday of the danger of a pneumonia outbreak especially among children under five in the transition to the rainy season. "Pneumonia is among top ranking diseases which have claimed many lives of children here... but people do not realize it. Other diseases such as dengue fever or diarrhea attract more attention," the ministry's director general of communicable disease control Achmad Sujudi, said.

Furor over bank funding

Furor over bank funding The government, already widely criticized for its botched handling of the banking crisis, has unnecessarily created doubts and worsened the climate of public suspicion about the sorely needed recapitalization of crippled banks.

RI, UNDP sign foreign help agreement

RI, UNDP sign foreign help agreement JAKARTA (JP): An agreement to provide foreign assistance for voter education, election monitoring and promoting public awareness of new political bills and other programs related to the elections was signed on Thursday at the Ministry of Foreign Affairs. So far 14 countries have stated their commitment to contribute to the program organized by the United Nations Development Program (UNDP).