Indonesian Political, Business & Finance News

Archive: 14 April 1999

49 articles found

Press told to address potential social unrest

Press told to address potential social unrest JAKARTA (JP): Instead of waiting for violent outbreaks, potential conflict simmering beneath the nation's ethnic and cultural foundations should be addressed by the media, senior journalists and a sociologist agreed on Tuesday. They agreed that over the past three decades, the media had swept all potential problems under the carpet, never opening public spheres for discourse over the issues.

Govt credit scheme repeats past mistakes, say analysts

Govt credit scheme repeats past mistakes, say analysts JAKARTA (JP): Analysts again criticized the government's policy to provide heavily subsidized loans to small- and medium- sized companies and cooperatives. They said the government's program to provide Rp 10.8 trillion (US$1.27 billion) in heavily subsidized loans was merely repeating past mistakes. Economist Faisal H.

Aussie boosts exports to RI

Aussie boosts exports to RI CANBERRA (Bloomberg): Australia extended the trade credit insurance it provides to businesses exporting to South Korea and Indonesia by a four months, the government said Tuesday. The extension takes the deadline to the end of July, though the government said it will reduce the amount to Korea to A$300 million (US$191 million) from A$500 million announced in May last year.

Councilors boycott session to endorse deputy governor

Councilors boycott session to endorse deputy governor JAKARTA (JP): A special plenary session of the city council called to endorse the sole candidate for deputy governor for economic and financial affairs was canceled when councilors refused to attend the session on Tuesday.

Search for missing passenger ended

Search for missing passenger ended SAMARINDA, East Kalimantan: Rescue workers stopped on Tuesday the search for Munadi, the only passenger of the downed Gatari Bell helicopter not yet accounted for. The helicopter crashed in the waters off the provincial coast here on April 4. The rescue team was to end its mission on Friday but extended it by four days following the salvage of the wreckage.

Military resort commands revamped

Military resort commands revamped JAKARTA (JP): Acting on the Armed Forces' (ABRI) pledge for a structural reorganization of its sociopolitical division, one of the city's two military resort commands on Tuesday disbanded all of its sociopolitical units and staff.

BHP sells Timor Sea stake to Phillips Petroleum

BHP sells Timor Sea stake to Phillips Petroleum MELBOURNE (Bloomberg): The Broken Hill Proprietary Co, Australia's biggest resources company, said on Tuesday it sold its interest in the Bayu Undan gas field and the Elang Kakatua field in the Timor Sea to Phillips Petroleum Co. The sale also includes BHP's interests in other permits located within the Australia-Indonesia Zone of Cooperation.

KPU allocates legislative seats for East Timor

KPU allocates legislative seats for East Timor JAKARTA (JP): The General Elections Commission (KPU) ruled on Tuesday the troubled province of East Timor would receive four seats in the House of Representatives (DPR) rather than the 13 stipulated by the elections law, according to KPU deputy chairman Adnan Buyung Nasution. "East Timor will be awarded four DPR seats, the same as their previous allocations...

Habibie seeks E. Timor peace

Habibie seeks E. Timor peace JAKARTA (JP): President B.J. Habibie endorsed the establishment of an independent rights commission to disarm warring factions in East Timor and restore peace so an international presence would not be needed there, it was reported on Tuesday.

SE Asia needs to sell itself, says Singapore PM

SE Asia needs to sell itself, says Singapore PM BANDAR SERI BEGAWAN (AFP): Singapore Prime Minister Goh Chok Tong said Tuesday ASEAN had lost much of its stature in the regional economic crisis and proposed joint roadshows to "sell" the region to foreign investors. The missions to the United States, Europe and Japan could be undertaken in the later part of 1999 after the Indonesian elections in June, Goh told Brunei ministers and top officials during a working visit to the sultanate.

Securities firms and share issuers back JSX, SSX merger

Securities firms and share issuers back JSX, SSX merger JAKARTA (JP): The Association of Indonesian Securities Companies (APEI) and several listed companies said on Tuesday they supported the merger of the Jakarta and Surabaya stock exchanges. They believed it was the best alternative to improve stock trading efficiency.

Wiranto extends term of special team in Maluku

Wiranto extends term of special team in Maluku JAKARTA (JP): Armed Forces (ABRI) Commander Gen. Wiranto on Tuesday extended indefinitely the tour of duty of the special military task force sent to end months of religious clashes in Maluku. Maj. Gen. Suadi Marasabessy, who leads the team of 19 Maluku- born officers, said after meeting Wiranto here on Tuesday the extension was in response to requests by the provincial legislature and Maluku Governor Saleh Latuconsina.

State banks insist not to provide debt haircut

State banks insist not to provide debt haircut JAKARTA (JP): Ailing state banks will not allow the reduction of the debts of large corporations eligible for a debt restructuring program being prepared by the government, according to a senior bank official. President of Bank Rakyat Indonesia (BRI) Djoko Santoso Mulyono said on Tuesday the debt trimming facility would only be provided if the corporate debtors could repay their debts "for good" in a single transaction.

RI companies believe crisis is over: Survey

RI companies believe crisis is over: Survey JAKARTA (JP): Indonesian beleaguered manufacturing companies believe that the economic crisis has passed and the recession has bottomed out, according to a government survey. The survey, conducted by the National Development Planning Board (Bappenas) and the Central Bureau of Statistics (BPS), said that most of 850 firms surveyed expected their production levels to increase or remain stagnant in the first quarter of 1999.

Conversion Rates

Conversion Rates Bank Bali's conversion rates on April 13, 1999: TT rates Bank notes rates Buying Selling Buying Selling Rp Rp Rp Rp U.S.

Floods damage thousands of Irian Jaya phone lines

Floods damage thousands of Irian Jaya phone lines SORONG, Irian Jaya (JP): Floods disrupted thousands of phone lines in the town of Sorong while the local state-run telephone company worked hard to fix the damage. Repair work could take one month, a company official said. Residents wanting to make phone calls last week found it necessitated traveling by ship for almost 12 hours to Manokwari town.

TV today

TV today TVRI 5:30 a.m. Religious Teachings 6:00 Morning News 7:00 Children's Songs 7:30 Music 8:00 TV Series 9:00 Music 10:00 Interval 2:00 p.m. News 2:35 Children's Program 3:00 Music 4:00 News 4:30 Indonesian Lessons 5:00 Students' Quiz 5:30 TV Drama 6:00 Sports 6:30 News (in English) 7:00 Evening News 7:35 Music 8:30 News 9:00 World News 9:30 Talk Show 10:30 TV Series 11:35 Late News Program 2 4:30 p.m.

Pertamina will still dominate market despite liberalization

Pertamina will still dominate market despite liberalization JAKARTA (JP): An oil executive predicted on Tuesday state oil and gas company Pertamina would continue dominating the country's downstream sector for several years despite liberalization of the market. President of national leading oil company Medco Energy Corp J.S.

Man held for allegedly killing nephew, maid

Man held for allegedly killing nephew, maid JAKARTA (JP): A jobless man was caught after allegedly killing his five-year-old nephew and a housemaid in a bungled robbery at his sister's house in Jagakarsa, South Jakarta, on Monday evening. The suspect, identified only as Frans, was arrested by local residents shortly after the boy's father screamed for help after arriving home.

Soldier killed in card game

Soldier killed in card game JAKARTA (JP): An Indonesian Armed Forces (ABRI) member was attacked early on Tuesday by his neighbors in Jatiuwung district, Tangerang, following a dispute over a gambling game. He died in a nearby hospital a few hours later from severe head injuries. The victim was identified as 38-year-old Hamdani, a first corporal at Jakarta Military Command, city police spokesman Lt. Col. Zainuri Lubis said.

Govt launches probe into tax bribery

Govt launches probe into tax bribery JAKARTA (JP): Director General of Taxes Anshari Ritonga said here on Wednesday his office had not yet found any indications of bribes from Japanese contractors to local tax officials, but vowed to continue the investigation. Ritonga said his office had counted 18 Japanese-affiliated firms under the Kajima name and 18 others under the name of Taisei, and it was not yet clear which companies were involved in the suspected bribes. "Kajima Corp.

Stock Exchange

Stock Exchange Stock prices on the Jakarta Stock Exchange (in rupiah) on April 13, 1999: Shares Close Change Trading Volume ------------------------------------------------------- Ades Alfindo 400 0 121,500 AHAP Insurance 425 25 5,000 Alakasa Industrindo 75 0 0 Alter Abadi 225 0 0 Alumindo Light Metal 475 75 113,000 Aneka Kimia Raya 125 0 351,000 Aneka Tambang (Persero) 1,475 0 4,529,500 Anwar Sierad 50 0 0 APAC Centertex Corp.

SE Asian monies stronger against greenback

SE Asian monies stronger against greenback SINGAPORE (Dow Jones): Southeast Asian currencies ended local trading hours Tuesday stronger against the U.S. dollar, lifted by healthy flows of foreign funds into domestic asset markets. In Southeast Asia, both the Singapore dollar and the Philippine peso edged upward, while the baht crept a fraction higher in offshore trading thinned by the closure of the Bangkok market for a public holiday.

Nine students injured in rallies

Nine students injured in rallies JAKARTA (JP): At least nine students were injured and 62 arrested in a number of rallies held across Java on Tuesday to oppose the June 7 general election. The arrests were made following a clash between students grouped in the Indonesian University Big Family (KBUI) and riot police who were attempting to disperse the protesters on Jl. M.T. Haryono in East Jakarta.

Workers protest for recognition of labor union

Workers protest for recognition of labor union JAKARTA (JP): About 400 workers from garment factory PT Tae Yung Indonesia in Tangerang went to the Ministry of Manpower demanding the government press the company's management to accept the presence of an independent labor union in the factory.

ASEAN battered but will survive, says official

ASEAN battered but will survive, says official SYDNEY (Reuters): The Association of South East Asian Nations (ASEAN) has been battered by the Asian crisis, but has rallied to pave the way for the region's economic recovery, a senior ASEAN official said on Tuesday. Rodolfo Severino, secretary-general of the regional group, said predictions ASEAN would disintegrate as its nine members struggled to cope with the financial crisis had proven baseless.

Golkar, PDI Perjuangan make peace in Purbalingga

Golkar, PDI Perjuangan make peace in Purbalingga PURBALINGGA, Central Java (JP): Golkar Party and the Indonesian Democratic Party of Struggle (PDI Perjuangan) have made peace following an attack on Golkar supporters. The April 9 incident involving harassment of women, stone throwing and an attack on party chairman Akbar Tandjung's car has been followed by repeated calls that Golkar postpone scheduled events in Central Java.

Rabies kills one in Sikka

Rabies kills one in Sikka MAUMERE, East Nusa Tenggara: Dogs carrying the rabies virus in Sikka regency have bitten and infected 13 people, killing one of them, a local health official said on Monday. Henyo Kerong of Sikka health office said the remaining dog bite victims were undergoing medical treatment at local community health centers. He said the people infected with rabies lived in seven districts across the regency.

Judge bars witness in forensic expert's trial

Judge bars witness in forensic expert's trial JAKARTA (JP): West Jakarta District Court barred on Tuesday testimony from a witness named by Marthadinata's parents in their suit against forensic expert Mun'im Idries, who they claim revealed their murdered daughter's autopsy results. Presiding judge Basoeki refused to allow testimony of Handoko Tjondro Putranto, a University of Indonesia forensic expert, who was presented by lawyer Frans Hendra Winarta. He cited concerns over neutrality.

Telkom delays launching of its new satellite

Telkom delays launching of its new satellite JAKARTA (JP): The launch date of the new Telkom-1 satellite owned by state-owned telecommunications company PT Telkom has been rescheduled to the first half of July this year, the European space launcher Arianespace said on Tuesday. Arianespace's director for the Association of Southeast Asian Nations (ASEAN) Richard Bowles, said it was delayed because the co-passengers satellite, the U.S. based WorldSpace's AsiaStar, was not ready.

Laid off workers look abroad

Laid off workers look abroad SURABAYA: Hundreds of redundant workers across East Java have sought new jobs abroad in the past few months, an immigration official said here on Tuesday. "Applications for passports have reached between 300 and 400 per day in the past few months, mostly coming from people who lost their jobs in the prolonged economic adversity," Suyono of the Surabaya immigration office said.

House hails bills on ILO conventions

House hails bills on ILO conventions JAKARTA (JP): House members are hopeful three bills on International Labor Organization (ILO) conventions on workers rights submitted by the government last month will end labor exploitation here. Anthonius Rahail of the Indonesian Democratic Party's (PDI) faction in the House said the conventions should immediately be incorporated into Indonesian law to help uphold people's sovereignty and restore workers' political and economic rights.

RI's pre-Olympics soccer team to warm up in Malaysia

RI's pre-Olympics soccer team to warm up in Malaysia JAKARTA (JP): Indonesia will compete in the five-day Quadrangular Tournament for Olympic teams at Bukit Jalil National Stadium, Kuala Lumpur, as a warmup for the soccer prequalifying round for the 2000 Olympics.

Special task force set up to campaign for 2006 Asiad

Special task force set up to campaign for 2006 Asiad JAKARTA (JP): The National Sports Council (KONI) appointed Arie Sudewo to chair a special team set up to campaign for Indonesia's bid to host the 2006 Asian Games. Ahmed Solihin, public relations spokesman for KONI, said Tuesday the team would arrange a proposal to be presented to government officials and members of the House of Representatives to garner official support. "The proposal must be completed by the end of this month.

Dignitaries gather to mourn Rahmi Hatta

Dignitaries gather to mourn Rahmi Hatta JAKARTA (JP): Rahmi Hatta, the widow of Indonesia's first vice president Mohammad Hatta, died on Tuesday morning at 73 after a two-week hospitalization for heart problems at Cipto Mangunkusumo General Hospital in Jakarta. Her attending specialist, Nurhay Abdurrahman, said Rahmi suffered from an acute cardiac condition and would not have survived surgery. President B.J.

ISO 14001 for Tetra Pak

ISO 14001 for Tetra Pak JAKARTA (JP): Processing equipment manufacturers Tetra Pak Processing Systems Asia/Pacific and PT Indo-Laval have received ISO 14001 quality assurance certification for the environmental management system applied at their plants in Pulogebang, Cakung, East Jakarta. The certificate was awarded to the companies by Lloyd's Register Quality Assurance last week, Tetra Pak said on Tuesday.

Tiger kills 40 goats

Tiger kills 40 goats BANDARLAMPUNG, Lampung: At least 40 goats belonging to residents of the Pengekahan enclave in West Lampung have been killed by one or more Sumateran tigers (panthera tigris Sumatrae) in the past two weeks. Some of the residents told Antara on Monday people were now afraid of being killed because of their dwindling goat population. Locals have stopped gathering coffee beans alone and going out after dusk.

Tight security imposed ahead of Anwar verdict

Tight security imposed ahead of Anwar verdict KUALA LUMPUR (Agencies): Malaysian paramilitary troopers on Tuesday took position around the courthouse where a judge is to deliver the verdict in the landmark trial of sacked finance minister Anwar Ibrahim. About 100 troopers with riot batons stood in small groups around the sprawling Merdeka (Independence) Square next to the courthouse where High Court Judge Augustine Paul is expected to pronounce his judgment on Wednesday morning.

Fifty drivers in slalom test

Fifty drivers in slalom test JAKARTA (JP): About 50 drivers will compete in the third leg of the Gudang Garam Slalom Test race, to be held in the parking lot of Sentul racetrack near Bogor on April 18. Organizer Didi Hardianto said on Monday only junior racers and newcomers were allowed to compete in the one-day slalom test. Included in the event is a free-for-all, as well as races for sedans, jeeps, Timor cars and Volkswagens.

Tatlee Bank

Tatlee Bank Correction: The headline of an article which appeared on this page on Tuesday was incorrect. It should have identified Keppel Tatlee Bank as the seller of a stake in PT DBS. We regret the error. -- Editor

Antitrust law may curb growth

Antitrust law may curb growth By Christopher Lingle UBUD, Bali (JP): New antitrust legislation passed in Indonesia is likely to place an unintentional burden on the economy. In particular, proposals to exempt state enterprises from antimonopoly actions while targeting any and all private companies is the exact opposite of what solid economic theory would prescribe.

First Pacicif, Indofood deal at risk

First Pacicif, Indofood deal at risk HONG KONG (Reuters): An attractive source of diversification could slip away from First Pacific Co Ltd if a deal to buy a stake in Indonesia's PT Indofood Sukses Makmur fails to go through, analysts said on Tuesday. The transaction was due to be completed on February 1 but First Pacific said on Monday there were several unfulfilled closing conditions and other unresolved matters concerning Indofood creditors.

World Bank delays funds for RI

World Bank delays funds for RI HONG KONG (Agencies): The World Bank has delayed the payment of a US$600 million loan to Indonesia, after it failed to reach agreement with President B.J. Habibie's government on new measures to monitor the allocation of the funds, a report said Tuesday.

Breaking the old taboo

Breaking the old taboo One would think there was no other document on this planet more sacred than Indonesia's 1945 Constitution, which still plays a role as the very source of Indonesian laws. The historic legacy of our founding fathers is also said to be the only road that leads to a just and prosperous society. That is what this nation has been told for decades.

Aceh students stage protest for referendum

Aceh students stage protest for referendum JAKARTA (JP): Hundreds of university and senior high school students took to the streets of Lhokseumawe in Aceh on Tuesday to protest the tearing down of street banners demanding a referendum. Their protest occurred as a group of 19 Acehnese leaders warned President B.J. Habibie in Jakarta to keep his promise to punish human rights violators in the troubled province. Liliwangsa Military Commander Col.

KPU of prime importance

KPU of prime importance From Media Indonesia I refer to Media Indonesia's report of April 9 under the heading "The election committee (KPU)'s existence is only considered as a passing breeze" and would like to give the following explanation. The Interior Ministry understands the psychological circumstances behind Pak Rudini's statement that it looked like the government was ignoring the KPU, especially when it was linked to the problem of the Supreme Court's fatwa (instruction, guidance).

World Bank's lessons from Indonesian economic crisis

World Bank's lessons from Indonesian economic crisis Dennis de Tray, who was replaced by Mark Baird on April 1 as the World Bank Country Director for Indonesia, saw his tenure in Indonesia that started in July, 1994, as the greatest episode personally and professionally, of his life. De Tray made a self- reflection on his experiences at a farewell luncheon hosted by the Indonesian Forum of economists in Jakarta on March 30.

Election funds to be disbursed

Election funds to be disbursed JAKARTA (JP): The city administration will "soon" disburse part of the Rp 10 billion to finance the operation of the June 7 general election, Governor Sutiyoso said on Tuesday. "I know that up to now people involved in the election preparations, especially those at the lowest level, have worked without pay," he said.

14 timber companies lose concessions

14 timber companies lose concessions JAKARTA (JP): The government has revoked the logging concessions of 14 timber companies after they failed to pay overdue reforestation fees by April 1, Minister of Forestry and Plantations Muslimin Nasution said on Tuesday. Muslimin said the number was larger than the nine he initially reported to President B.J. Habibie last week.