Indonesian Political, Business & Finance News

Archive: 5 March 1999

51 articles found

PKB, PPP warn against poll sabotage

PKB, PPP warn against poll sabotage SEMARANG (JP): Leading Muslim parties the National Awakening Party (PKB) and the United Development Party (PPP) warned on Thursday that certain groups intend to thwart the coming general election. PKB chairman Matori Abdul Djalil and his PPP counterpart Hamzah Haz said on separate occasions that the sabotage attempts could be traced to those responsible for engineering the recent series of bloody clashes leading up to the elections.

Sewu New York Life pays out Rp 303 billion

Sewu New York Life pays out Rp 303 billion JAKARTA (JP): Joint venture life insurer PT Asuransi Jiwa Sewu New York Life said on Thursday it spent Rp 303 billion (US$34.4 million) in 1998 to compensate surrendered U.S. dollar- denominated policies. The company's president Donald Carden said many dollar- denominated policy holders could not continue to pay their premium due to the sharp depreciation of the rupiah against the greenback.

Four Koreans die on ship

Four Koreans die on ship CILACAP, Central Java: At least four South Korean nationals, crewmen of MV Am Nok Gong have died, while 19 others were found in a serious condition aboard the ship. Cilacap Police chief Lt. Col. F.R. Andi Lolo said on Thursday that the dead men were discovered on Wednesday, while the ship's captain and doctor were among those receiving treatment at Fatimah and Margono Sukarjo Purwokerto hospitals.

Asian monies lower for fourth day running

Asian monies lower for fourth day running SINGAPORE (Dow Jones): For the fourth day running Thursday, Southeast Asian currencies ended local trading hours weaker against the U.S. dollar. As the U.S. currency extended its bullish trend against the yen, the South Korean won, the New Taiwan dollar and the freely traded currencies of Southeast Asia all came under steady downward pressure. As the dollar breached 122.00 yen, to hit a high in Asia of 122.78, the U.S.

'RCTI' to air 16 F1 races

'RCTI' to air 16 F1 races JAKARTA (JP): The private TV network RCTI will broadcast live and delayed Formula One races from 16 countries and cities, a spokeswoman said on Thursday. Linda Wahyudi said that RCTI was given the rights to broadcast live all the 16 races. "For the broadcasting of the races, Lucky Strike will be our main sponsor. We will also present daily 30-minute highlights of ongoing races from 11 to 11:30 p.m.," Linda said.

German universities ready to educate Indonesians

German universities ready to educate Indonesians By Lena Rosenthal JAKARTA (JP): In these times of rapid globalization of the world's markets, international experience has become one of the top qualifications for job applicants, raising the number of students seeking to study abroad. While the United States along with Australia and Great Britain are still the most preferred destinations for students, German universities are now introducing themselves to the Indonesian public.

Patients deserve better meal, councilors say

Patients deserve better meal, councilors say JAKARTA (JP): City councilors expressed concern on Thursday over the slight increase in the meal allowance at public institutions in the city from Rp 2,000 per patient per day at present to Rp 3,000 per patient in the 1999/2000 city draft budget. The allocation of Rp 3,000 per patient is far below the Rp 7,500 daily allotment for each animal at the at the city-owned Ragunan Zoo in South Jakarta, they said.

Cable theft disrupts telephone services

Cable theft disrupts telephone services JAKARTA (JP): A segment of an underground telephone cable under a bridge on Jl. Tanjung Barat Raya in South Jakarta was cut and stolen, disrupting 1,173 telephone lines in the area, an official of state-owned telecommunications operator PT Telkom said on Wednesday. Prawoto, deputy chairman of Telkom's South Jakarta office, said the affected telephone lines have a prefix of 780 to 788. The area affected includes Jl. Poltangan, Jl.

BSD foreign investors determined to stay

BSD foreign investors determined to stay JAKARTA (JP): Foreign companies are determined to maintain their estimated Rp 600 billion total investment in the Bumi Serpong Damai (BSD) housing and business complex in Tangerang, an executive at PT BSD said on Thursday. The president of PT BSD, Budiarsa Sastrawinata, said in a statement made available to The Jakarta Post that the foreign investors continued to believe in Indonesia's economic prospects despite the continuing economic crisis.

Indonesia needs to own up to past sins: Anderson

Indonesia needs to own up to past sins: Anderson JAKARTA (JP): Indonesians need to own up to the killings and other brutality committed against their own people during the 32 years of President Soeharto's rule, leading Indonesianist Benedict Anderson of Cornell University said on Thursday. Making his first public appearance in Indonesia in 26 years, Anderson said Soeharto's New Order regime was responsible for the deaths of nearly 800,000 people.

Questioning Habibie unnecessary: Akbar

Questioning Habibie unnecessary: Akbar JAKARTA (JP): The government dismissed on Thursday a demand for the House of Representatives to quiz President B.J. Habibie over a phone conversation he allegedly had with Attorney General Andi M. Ghalib.

Religious leaders' help sought

Religious leaders' help sought JAKARTA (JP): President B.J. Habibie called on religious leaders on Thursday to help ease tensions, end unrest and restore harmony among people of different faiths. Addressing a meeting of leaders of the Protestant Church Synod of western Indonesia at Merdeka Palace, Habibie expressed concern over recent widespread rioting fueled by ethnic and religious diversity. "This republic that we love, belongs to people from a variety of ethnic backgrounds and religions.

Same old Golkar

Same old Golkar From Merdeka Akbar Tandjung's statement in his capacity as Golkar chairman that we do not need political experiments is an obvious dig against people who, in his opinion, are newcomers to the political arena. He means people who have just ventured into the Indonesian political jungle, such as Amien Rais, Nur Mahmudi Isma'il and Yusril Mahendra.

Albright urges Thailand to finish banking reform

Albright urges Thailand to finish banking reform BANGKOK (Agencies): U.S. Secretary of State Madeleine Albright pressed Thailand on Thursday to complete reforms of its banking system and held out the lure of selling the Thais used U.S. F-16 jet fighters. "My goal in coming here is to reaffirm America's deep friendship for a strong ally ... and our strong support" for Thailand's effort to reform its economy, she said at a news conference after meeting with royal and government leaders here.

Investors to submit final bid on Aneka Tambang soon

Investors to submit final bid on Aneka Tambang soon JAKARTA (JP): The government expects to receive final binding bids from investors interested in acquiring a stake in the state- owned mining company, PT Aneka Tambang (Antam) next week, a minister said. State Minister of the Empowerment of State Enterprises Tanri Abeng said on Thursday the government would remain majority shareholder in the general mining company, but would consider selling most of its stake if the move proved beneficial.

U.S. supports 'free and fair RI elections'

U.S. supports 'free and fair RI elections' JAKARTA (JP): Visiting U.S. Secretary of State Madeleine Albright said on Thursday that her country fully supports a fair and peaceful election in Indonesia, and hinted it would not support a specific candidate. The state secretary said together with the international community the U.S. was ready to provide assistance to help Indonesia as it works to ensure the elections are credible and honest.

German quartet looks at death from two different angles

German quartet looks at death from two different angles By Gus Kairupan JAKARTA (JP): Death ... submit to it gracefully and eternal rest will be yours. Resist it and you will kick the bucket in a most horrible manner. That, in a way, was the message conveyed by the Pedersen String Quartet from Germany at its performance on last Friday at Erasmus Huis.

PSA to run Brunei port

PSA to run Brunei port SINGAPORE (DPA): PSA Corporation, Singapore's largest shipping company, will manage and operate a container terminal in Brunei, a news report said Thursday. Muara Container Terminal (MCT), is the first terminal PSA will manage in South-east Asia, The Straits Times newspaper said. Currently, PSA manages eight overseas terminals in India, Italy, China and Yemen. MCT is strategically located, encompassing Brunei, Indonesia, Malaysia and the Philippines.

Justice Minister Muladi urges creditors to settle feuds locally

Justice Minister Muladi urges creditors to settle feuds locally JAKARTA (JP): Minister of Justice Muladi advised Indonesian creditors on Thursday to respect the country's judicial system and settle disputes with debtors in domestic courts. He told reporters disputes involving business deals concluded under Indonesian law should be settled under the country's judicial system and not foreign ones, the approach taken by Bank Bali in the Singapore high court.

Teachers need 'psychological training'

Teachers need 'psychological training' JAKARTA (JP): Schools whose students are frequently involved in street brawls were urged on Thursday to intensify psychological training courses for their teachers to enable them to handle problematic students. Bahar Laut, head of the public order subdivision of the city's social and political affairs directorate, said that the training courses should focus on teaching advanced child psychology to all school teachers.

Social safety net seen 'as charity, burden'

Social safety net seen 'as charity, burden' JAKARTA (JP): Many recipients of the social safety net funds see the aid program as charity, which is creating a new sense of dependency, a social researcher said. Henny Warsilah of the Indonesian Institute of Sciences (LIPI) said the funds could also pose another problem for recipients, as others not receiving the funds may become jealous, Antara reported Thursday from a seminar on the social safety net funds.

Stock Exchange

Stock Exchange Stock prices on the Jakarta Stock Exchange (in rupiah) on March 4, 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 0 Alumindo Perkasa 125 0 0 Aneka Kimia Raya 175 0 0 Aneka Tambang 1,500 25 4,102,000 Anwar Sierad 75 0 40,000 Apac Centertex Corp.

Wiranto says he already passed up chance for power

Wiranto says he already passed up chance for power JAKARTA (JP): Minister of Security/Armed Forces (ABRI) Commander Gen. Wiranto revealed on Thursday that former president Soeharto conferred extraordinary powers upon him to quell mounting unrest last year. "At the time of transfer of power from Soeharto to B.J. Habibie, I already carried a mandate from (Soeharto) who held the People's Consultative Assembly (MPR) decree No. V which stated that the president ...

Two men mobbed to death for robbery

Two men mobbed to death for robbery JAKARTA (JP): Two men were mobbed to death by angry residents of Semanan in Kalideres, West Jakarta late Wednesday as they were caught red-handed attempting to rob an ojek (motorcycle taxi) driver of his motorbike, an official said on Thursday. City police spokesman Lt. Col. Zainuri Lubis told reporters that the two ill-fated men remained unidentified as they did not have any ID cards with them.

Students groups demand Wiranto's resignation

Students groups demand Wiranto's resignation JAKARTA (JP): Student groups in several cities staged rallies on Thursday demanding Armed Forces (ABRI) Commander Gen. Wiranto's resignation over the uncurbed violence in Maluku that has so far claimed the lives of at least 166 people.

Traffic accidents underestimated

Traffic accidents underestimated YOGYAKARTA : A transportation expert said that the number of road accidents every year is probably much higher than official estimates, with 10 accidents for every two recorded ones. Heru Sutomo of Gadjah Mada University said on Thursday that it was hard to believe that accidents since the 1980s remained at 10,000 to 12,000 per year, when vehicle numbers had more than doubled.

Rice import plan will be shelved, Bulog promises

Rice import plan will be shelved, Bulog promises JAKARTA (JP): The State Logistics Agency (Bulog) said on Thursday it would reschedule deliveries of rice to be imported this year to ease pressures on the price of locally produced rice. Industry and Trade Minister Rahardi Ramelan, who is also Bulog's chairman, said the agency would adjust the scheduling and destinations of the import deliveries to protect the local market.

Where to go in Jakarta:

Where to go in Jakarta: Exhibitions * Technogerma Jakarta 99, exhibitions on technology, environment, education etc. at Jakarta Convention Center (JCC), Central Jakarta (Phone: 672-6000), 11 a.m. - 8 p.m. until March 7. Concert, bach, blech and blues, at JCC, Cendrawasih room, 5:30 p.m. March 5, Film series, a presentation of the German dance film institute, at Pusat Perfilman Usmar Ismail, Jl. H.R. Rasuna Said, Kav. 22, South Jakarta (5268458), 7:30 p.m.

48 parties eligible to contest election

48 parties eligible to contest election JAKARTA (JP): The government announced on Thursday that 48 political parties had passed the Team of Eleven's screening and were qualified to contest the June 7 general elections. Minister of Home Affairs Syarwan Hamid told a media conference here the parties have been screened by the independent team comprising 11 respected scholars and activists rather than by the government. This was meant to ensure a free and fair election, he said.

Asian stocks close unchanged as investors remain cautious

Asian stocks close unchanged as investors remain cautious SINGAPORE (AFP): Asian stock markets moved in a narrow range and most ended barely changed in thin trade on Thursday as investors maintained caution, dealers said. Singapore was the biggest gainer, rising 1.2 percent, and Bangkok posted the largest decline of 1.3 percent. Tokyo rose 0.1 percent, Hong Kong and Taipei each fell 0.1 percent, Sydney closed down 0.2 percent, and Kuala Lumpur gained 0.7 percent.

Daily receives bomb threat

Daily receives bomb threat BANDUNG, West Java: The office of the popular daily Pikiran Rakyat received a telephoned bomb threat at 7:30 p.m. on Wednesday. All employees were evacuated after an operator received a call saying a bomb would explode at 8 p.m. A bomb squad from the provincial police office combed the building and the area was declared safe after two hours. (43)

Euphoria of number

Euphoria of number The Team of Eleven, the verification committee tasked with determining the eligibility of poll contestants, did not surprise anyone on Thursday when it announced the 48 political parties meeting all criteria to contest the June general election. This fails to surprise us because the nation knows that, since president Soeharto's downfall in May, busy politicians have established more than 100 parties to contest the June general election.

Education for 'the weak'

Education for 'the weak' From Merdeka Article 31 of the 1945 Constitution simply stipulates that every citizen is entitled to an education organized by the government. This means that the rich as well as the poor have equal opportunity to get an education in conformity with the government's task to uplift the intellectual capacity and enhance people's living standards.

Marines arrival brings clam to troubled Ambon

Marines arrival brings clam to troubled Ambon JAKARTA (JP): Deployment of a marine battalion brought a semblance of calm to the Maluku capital of Ambon on Thursday after weeks of clashes which have killed more than 160 people, police and witnesses said. The National Police said at least 166 people have been killed and more than 400 others injured since clashes with religious overtones erupted in the province in mid-January.

Bekasi farmers seek proper compensation for their land

Bekasi farmers seek proper compensation for their land BEKASI (JP): A group of some 100 people went to the office of the Bekasi Regency on Thursday morning to demand compensation for 200 hectares of land which they say was appropriated by the regency in 1983. Carrying banners and posters, the protesters, farmers from Teluk Pucung village, arrived at the regency office at 9 a.m.

Tangerang crab fishermen net profits in crisis

Tangerang crab fishermen net profits in crisis TANGERANG (JP): The country's prolonged economic crisis is not an abject nightmare for all low-income people. In several remote regions of Sulawesi and Sumatra, farmers who subsisted for years below the poverty line are reveling in the best times of their lives, thanks to huge increases in revenue from export-oriented commodities which fetch princely prices on international markets. For them, the crisis has been a boon, not a bane.

University entrance system lacking

University entrance system lacking Iwan Pranoto BANDUNG (JP): In Indonesia, most high school graduates plan to continue their studies. The first choice for the majority of these students is a state university. However, among the state universities, there are two "leagues". Of course, the "major league" universities are the most sought after by the students and their parents.

Conversion rates

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

Sex calls scare students of junior high schools

Sex calls scare students of junior high schools JAKARTA (JP): A rash of bizarre obscene phone calls has targeted at least 60 students at two state junior high schools in the capital, an official said on Thursday.

NGOs quiet about Ambon tragedy

NGOs quiet about Ambon tragedy From Bisnis Indonesia Reading newspapers these days makes me utterly sad. Imagine, nearly every day there are deaths in conflicts raging in Ambon. Each group takes turns. One day it is our Muslim brothers, the next it is Christians. Outrageous cruelties against humanity which we saw in Bosnia some time ago are now happening in this country. What is more saddening is that nobody seems to care about the tragedy.

RI plywood exports fall 35% due to tardy market

RI plywood exports fall 35% due to tardy market JAKARTA (JP): Indonesia's plywood and other wood panel exports fell by 35 percent in 1998 to US$2.5 billion due to a sluggish overseas market, the Association of Indonesian Wood Panel Producers (Apkindo) said on Tuesday. The executive director of Apkindo, Tjipto Wignjoprajitno, said in terms of volume, plywood exports dropped by only 3.6 percent to 8 million cubic meters from 8.3 million cubic meters in 1997.

Perseverance key to riches

Perseverance key to riches At present, we do not hear or read about skyrocketing prices of daily basic commodities such as rice, sugar, cooking oil, etc. Yet, I dare say that many people raised their eyebrows when they saw on TV that one kilogram of red chilies costs Rp 30,000. In far away Kalimantan, the price is Rp 80,000. Many readers of this essay will undoubtedly agree with me that such a price is really absurd.

Andrian to defend IBF title

Andrian to defend IBF title JAKARTA (JP): International Boxing Federation Intercontinental bantamweight champion Andrian Kaspari from Indonesia will defend his title in a match here on Friday against South African Marinki Booi. "This will be my first encounter with South African boxing. I'll read his strategy in only one or two rounds," he said, declining to predict if he would knockout his opponent.

Nigeria, Indonesia

Nigeria, Indonesia The most populous nations of Africa and Southeast Asia are poised precariously in transition from decades of dictatorship to would-be democracy. Success could reverberate far beyond the two countries, setting examples that might prove contagious. Failure could prove just as discouraging. Nigeria held its presidential election on Saturday. Indonesia is scheduled to vote in June. It is far too soon to predict the outcome of transition in either country.

China trade may end the regional crisis blues

China trade may end the regional crisis blues By Edward Neilan BANGKOK (JP): China trade may be the engine of recovery for Southeast Asia's devastated economies, still reeling from what they see as Western-imposed globalization formulas. Start with Thailand. The population here has eased over 60 million in the last year. Many new workers are involved in making low-end electrical items, computers and related parts.

Minimum wages and purchasing power

Minimum wages and purchasing power From Media Indonesia From the New Order regime era until now, we have often been given pay increases according to minimum wage standards. But our life has not improved. Our purchasing power as workers has declined considerably. We have now come to realize that it is not our pay that is small, but it is our purchasing power that is low.

Parties eligible for elections

Parties eligible for elections 1. Partai Persatuan Pembangunan (PPP), United Development Party 2. Partai Golongan Karya (Golkar), Functional Group Party 3. Partai Demokrasi Indonesia (PDI), Indonesian Democratic Party 4. Partai Demokrasi Indonesia Perjuangan (PDI Perjuangan), Indonesian Democratic Party of Struggle 5. Partai Rakyat Indonesia, Indonesian People's Party 6. Partai Syarikat Islam Indonesia (PSII), Indonesian United Islam Party 7.

AFTA top topic at ASEAN ministers' talks

AFTA top topic at ASEAN ministers' talks BANGKOK (AFP): ASEAN economic ministers gather on the Thai holiday island of Phuket this week for a round of free-wheeling talks likely to focus on plans to speed up regional free-trade plans, officials said. Officials described the meeting on Saturday as a "retreat" where ministers would be able to speak their minds without the formal baggage of minders and advisers to guide them.

Dozen injured in violent clash between students and troops

Dozen injured in violent clash between students and troops JAKARTA (JP): Dozens of students, three photographers and one reporter were injured in violent clashes between protesting students and security personnel in Central Jakarta on Thursday afternoon. No gunshots were heard during the pitched battles, which allegedly broke out after students began to throw stones at security forces at the busy Matraman crossroads.

Lufthansa expects Indonesia to take off

Lufthansa expects Indonesia to take off JAKARTA (JP): Lufthansa German Airlines' vice president for Asia and the Pacific Manfred Reimer said here on Thursday that business prospects in Indonesia remained promising despite the current economic crisis. Reimer said that last year's revenue from the airline's Indonesian operation exceeded expectations and the trend was expected to continue this year. "We have absolute confidence in Indonesia.

Government introduces new lending agency to help SMEs

Government introduces new lending agency to help SMEs JAKARTA (JP): State Minister of the Empowerment of State Enterprises Tanri Abeng announced on Thursday the establishment of a finance institution designed to provide cheap financing to small and medium-sized enterprises (SMEs). He said that the institution would begin operating immediately with a paid-up capital of Rp 1.5 trillion (some US$176.5 million), of which Rp 300 billion would be covered by the 1999/2000 State Budget.