Indonesian Political, Business & Finance News

Archive: 16 April 1999

41 articles found

INDRA extends entry deadline

INDRA extends entry deadline JAKARTA (JP): The Indonesian Debt Restructuring Agency (INDRA) has extended the deadline for entry to its program from June 30 to Dec. 31 because there have been no takers so far. INDRA chairman Sumitro said on Thursday that the agency would provide additional incentives, including a flexible period of debt payment. He added that most companies were expected to reach agreement with their foreign creditors during the second half of the year.

Conversion Rates

Conversion Rates Bank Bali's conversion rates on April 15, 1999: TT rates Bank notes rates Buying Selling Buying Selling Rp Rp Rp Rp U.S.

Blast rocks capital shopping center

Blast rocks capital shopping center JAKARTA (JP): A strong blast rocked the three-story Hayam Wuruk Plaza shopping center in West Jakarta on Thursday morning, shattering the windows of at least four shops on the plaza's ground floor and panicking shoppers. No casualties were reported and no arrests were made. Material losses are still being calculated.

Aceh students, residents vandalize national flags

Aceh students, residents vandalize national flags JAKARTA (JP): Thousands of students and residents on Thursday vandalized national flags in Lohksukon, North Aceh, following the removal of banners demanding a referendum on the troubled province's future. A number of flags installed at government offices were set on fire, a local correspondent said. The action involving secondary students led to hours of congestion but no one was arrested.

New tax will reduce RI wood's competitive edges

New tax will reduce RI wood's competitive edges JAKARTA (JP): The Association of Indonesian Forest Concessionaires (APHI) expressed concern on Thursday that the planned progressive levies to be imposed on timber companies will make Indonesian wood-based products less competitive in international markets. APHI chairman Adi Warsita Adinegoro said the levies should be set at a level which would not increase the cost of logs and thus also the price of wood-based products.

Hendrawan focused on Sudirman Cup

Hendrawan focused on Sudirman Cup JAKARTA (JP): Men's singles coach assistant, Joko Supriyanto, said Hendrawan would be prepared for the Sudirman Cup, while Taufik Hidayat and Budi Santoso would receive training for the World Championships. "We have been grooming them better each day and hopefully they can show their best form at both events. They are the best singles players we have.

Parties' flags to start flying in city on May 19

Parties' flags to start flying in city on May 19 JAKARTA (JP): The city administration will officially hoist flags of the 48 political parties contesting the June 7 general election on May 19, the first day of the two-week campaigning period, an official said on Thursday. Head of the city's supplies office Dadang Ruskandar said 5,184 party flags and 216 national flags would be displayed at 108 locations on main thoroughfares and streets.

Rowing venues moved to Curug

Rowing venues moved to Curug JAKARTA (JP): Indonesia will move rowing training venues to Curug, Karawang, in West Java from the site at Jatiluhur dam in preparation for the 2006 Asian Games, a sports official said on Thursday. Secretary of the athletes development department Subur Arief Effendi said that the low water level at Jatiluhur was no longer appropriate for staging a rowing competition. He said the change in the venue was planned since 1993.

WB holds corporate seminar

WB holds corporate seminar JAKARTA (JP): The World Bank and the Jakarta Initiative will hold a one-day seminar on corporate governance reform at Hotel Gran Mulia here on Monday. The bank said in a statement on Thursday it would examine the fundamentals of sound corporate governance practices and highlight current trends and reform activities at domestic, regional and global levels. Former finance minister Mar'ie Muhammad will deliver the keynote speech at the seminar.

Hoodlum killed by mob

Hoodlum killed by mob JAKARTA (JP): A known hoodlum who operated in the Jatiuwung district in Tangerang was mobbed to death by angry residents on late Tuesday, a police officer said. Also on Tuesday, at around 9 p.m., a man was attacked by four unidentified assailants in nearby Mauk district after he accidentally stepped on the foot of one of the assailants, city police spokesman Lt. Col. Zainuri Lubis said on Wednesday.

Search continues for helicopter crash victims

Search continues for helicopter crash victims JAKARTA (JP): A search and rescue team continued its search for the missing crewmen and passenger from the helicopter chartered by Atlantic Richfield Company (ARCO) Indonesia which crashed in the Java Sea on Wednesday.

Madura to get power back

Madura to get power back JAKARTA: State-run electricity company PT Perusahaan Listrik Negara (PLN) confirmed the power supply to the island of Madura, East Java, would return to normal by the end of this month, Antara reported. The island has in the past two months been without electricity after the main underwater power line was damaged by the anchor of Singaporean cargo ship MV Kota Indah.

Strong quake jolts Ternate

Strong quake jolts Ternate TERNATE, Maluku: A tectonic earthquake measuring 6.8 on the Richter scale jolted the North Maluku district town of Ternate and its surrounding area on Wednesday at 3:45 p.m. local time, Antara reported on Thursday. There were no immediate reports of casualties following the strongest quake to hit the area since January, according to the head of Ternate's geophysics office, Aryo Fauzi.

Housemaid kills unwanted baby

Housemaid kills unwanted baby BOGOR (JP): A 24-year-old housemaid was arrested for allegedly killing her unwanted baby, the result of a relationship with her male employer, an officer said on Wednesday. Bogor Regency Police chief Lt. Col. Ade Husen said Anisah was apprehended on Tuesday after local residents of Pasir Gabuk village in Cisarua, Cigudeg, reported the discovery of a baby's leg.

Developing a relevant civil society in contemporary RI

Developing a relevant civil society in contemporary RI By Mochtar Buchori PARIS (JP): At a recent conference on Civil Society and Governance here, the dominant tendency among the participants was to emphasize the tension between state and civil society. Civil society was seen as the watchdog of the state, guarding the public against any tendency on the part of the state to abuse its power and violate public interest.

Minor clashes continue in Sambas regency

Minor clashes continue in Sambas regency JAKARTA (JP): Sporadic attacks continue against Madurese migrants in the West Kalimantan regency of Sambas, provincial police chief Col. Chaerul Rasjid said on Thursday. Chaerul was quoted as saying by Antara that security personnel were in general maintaining order and preventing clashes from escalating. His statement came after an overnight incident in which an ethnic Malay man was killed and a troop was wounded in Sungaikeran hamlet.

Misdeed costs Telkom over Rp 6t in financial loss

Misdeed costs Telkom over Rp 6t in financial loss JAKARTA (JP): Mismanagement cost state-owned domestic telecommunications provider Telkom at least Rp 6.08 trillion (around US$715 million) in financial losses, according to the Indonesia Corruption Watch (ICW).

Baduy tribespeople want out of June elections

Baduy tribespeople want out of June elections JAKARTA (JP): Four representatives of the Kanekes people, more commonly known as the Baduy, of Lebak regency, West Java, requested to the General Elections Commission on Thursday that they be exempted from voting in the June 7 general election. Led by Kanekes village chief Daina, the group told commission chairman Rudini they were forced to participate in past elections, which was forbidden by their customs. "This time...

Where to go in Jakarta:

Where to go in Jakarta: Exhibitions * Painting Exhibition: Dua Ekspresi, by Syarief Hidayat and Hassan Pratama, at Galeri TC, Jl. Kemang Raya No. 24A, South Jakarta (Phone: 7194270), until April 30. * Painting Exhibition: Works of Nina Saputra, the Fine Arts and Ceramics Museum, Jl. Pos Kota No. 2, West Jakarta, 9 a.m. to 9 p.m., until April 27. * Painting Exhibition: by Jeihan, at the Cikini Galeria, Jl. Cikini Raya 65, Central Jakarta (Phone: 31901082), until April 30.

No paper

No paper In observance of Islamic New Year, The Jakarta Post will not be published tomorrow. The Post will appear again on Sunday. -- Publisher

Chase will accept Indonesian L/Cs

Chase will accept Indonesian L/Cs JAKARTA (JP): The Indonesian Exporters Association (GPEI) said Thursday it had received firm commitment from the New York-based Chase Manhattan Bank to facilitate overseas transactions. GPEI secretary-general Johannes L. Sitanggang said the assistance would include the bank's acceptance of letters of credit from Indonesian banks to settle payments for imported raw materials.

PBB fears deadlock over presidency

PBB fears deadlock over presidency JAKARTA (JP): Leading politician Yusril Ihza Mahendra expressed concern over the possibility of a deadlock in the November presidential election if poll contestants, all fielding their own candidates, could not agree on the winner.

'Court to declare' Dharmala bankrupt

'Court to declare' Dharmala bankrupt JAKARTA (JP): The Supreme Court is set to declare publicly listed PT Dharmala Agrifood bankrupt, overruling its decision in February, lawyers close to the case said. They said on Thursday that although the ruling had yet to be made public, they knew informally of the decision. Dharmala's lawyer Hotman Paris Hutapea also said he heard the verdict was pending but was awaiting formal notification. "Yes, I have heard about it.

Water workers protest 'illegal partnership'

Water workers protest 'illegal partnership' JAKARTA (JP): Some 1,000 protesters of city-owned water company PDAM Jaya staged a demonstration at City Hall on Monday demanding an end to the partnership of PDAM Jaya and its two foreign partners, PT TPJ and PT Palyja. Organized by the PDAM Jaya Workers' Union, the protesters argued the partnership violated seven existing laws. Protesters, mostly men wearing blue company uniforms, were escorted under the close watch of about 30 riot police.

Taekwondo athletes to train in S. Korea

Taekwondo athletes to train in S. Korea JAKARTA (JP): Indonesia will send four taekwondo athletes for training in South Korea in preparation for the 2000 Olympic Games in Sydney, Australia. The National Sports Council's (KONI) deputy chief of media and promotion, Ahmed Solihin, identified the athletes as Juana Wangsa Putri of Jakarta, Sinta Berliana Heru and Pino Indra of West Java and Deri Darmansyah of Central Java.

U.S. summer love recalled in 'storygraph'

U.S. summer love recalled in 'storygraph' By Helly Minarti JAKARTA (JP): In this time of crisis, which has set limitations on many, some privileged people can still make their dream come true. One of them is Rio Haminoto, known as Alumera. The 25-year-old has managed to launch his first novel Don Joviano -- he calls it a "storygraph" -- which comes with an audio cassette containing four songs as the soundtrack for his story. The set has been available in certain record stores since February.

Belo tells groups to end hostilities

Belo tells groups to end hostilities JAKARTA (JP): Dili Bishop Carlos Filipe Ximenes Belo on Thursday appealed to jailed rebel leader Jose Alexandre "Xanana" Gusmao and warring faction leaders to end hostilities in East Timor.

Citibank issues prepaid disposable travelers card

Citibank issues prepaid disposable travelers card JAKARTA (JP): Citibank launched on Thursday the Citibank Visa TravelMoney card, a prepaid disposable card that allows travelers to withdraw cash at any Visa ATM in the currency of their destination. The vice president of Citicorp Travel Payment Services, Ian Nott, said the card's biggest benefit was that it could be bought and used by people who were not Citibank customers.

City military police has new chief

City military police has new chief JAKARTA (JP): Jakarta Military Commander Maj. Gen. Djadja Suparman installed Col. Mungkono Mursidi on Thursday as the new commander of the city military police (Pomdam Jaya), replacing Col. Hendardji. The installation was conducted in a modest ceremony at Pomdam Jaya's headquarters on Jl. Guntur in South Jakarta.

SEA Games health tests for athletes delayed

SEA Games health tests for athletes delayed JAKARTA (JP): Sixteen out of 454 athletes who will compete in the 20th South East Asian (SEA) Games in Brunei Darussalam in August are currently undergoing medical tests at the Sports Science Commission (KIOR) of the National Sports Council (KONI). KIOR chief Carmen Jahja, said the original medical test schedule was postponed from April 1 to April 5, due to the slow start of the national training program.

East Java soldiers' wives urged to quit PDI, PKB

East Java soldiers' wives urged to quit PDI, PKB JAKARTA (JP): Members of the Armed Forces (ABRI) in East Java will have to bear the consequence if their wives refuse to resign from political parties, an officer said here on Thursday. The commander of the Brawijaya regional military command, Maj. Gen. Ryamizard Ryacudu, issued the warning in his address during a celebration marking the 24th anniversary of the Dharma Pertiwi association of wives of military personnel.

Beefing up consumer protection

Beefing up consumer protection By Stefanus Haryanto BATAM, Riau (JP): The bill on consumer protection, which has been unanimously approved by the House of Representatives (DPR), will provide a strong legal basis for consumer organizations to file lawsuits against manufacturers of certain defective products after it is enacted by the President. Producers, therefore, have to change their practices, particularly with regard to the quality of their products and their marketing strategies.

Recapitalization agreement signed

Recapitalization agreement signed JAKARTA (JP): The government will issue bonds in two weeks to raise funds to recapitalize nine private banks, a process which will cost a total of some Rp 21.3 trillion (US$2.5 billion). Minister of Finance Bambang Subianto and Bank Indonesia Governor Sjahril Sabirin signed on Thursday the recapitalization agreement with the owners and management of the nine banks.

Robbers kill bank security guard, wounds manager

Robbers kill bank security guard, wounds manager JAKARTA (JP): A security guard at a branch of Bank Central Asia (BCA) in West Jakarta was fatally stabbed and the bank manager suffered stab wounds in an foiling armed robbery on Thursday afternoon. The incident at the branch on Jl. Keamanan happened at 11:25 a.m., 10 minutes after an explosion at Hayam Wuruk Plaza shopping center, located about 500 meters away.

MAS expands in London, NY

MAS expands in London, NY SINGAPORE (DPA): The Monetary Authority of Singapore (MAS) has opened a London representative office and expanded its New York facilities in an effort to promoting the city-state as an international financial center amid the Asian economic crisis. "These overseas offices will foster greater understanding and cooperation between (the) MAS and other central banks ...

Riot mars village head election

Riot mars village head election PURWOKERTO, Central Java: Election for a village head in the Patikraja district, Banyumas regency was canceled Thursday, leading to a riot in which hundreds of people destroyed polling booths and ballots. Crowds in the Kedung Randu village also vandalized the home of former village head Djumiran, 47, one of the candidates. Banyumas Police Chief Lt.Col. Johnny H.

Inglorious verdict

Inglorious verdict The six-year prison sentence passed on Malaysia's former deputy prime minister Anwar Ibrahim on Wednesday is considered by many to be overly harsh and a violation of the principles of natural justice. The defendant himself called it "an absolute disgrace" to his country's judicial system.

Parties prepare potential vote getters

Parties prepare potential vote getters JAKARTA (JP): Some of the top contenders in the June 7 general election are fielding their leading campaigners as legislative candidates. In some cases, provincial chapters are racing to nominate the same people. Megawati Soekarnoputri, the popular chairwoman of the Indonesian Democratic Party of Struggle (PDI Perjuangan), for example, is being sought after by chapters in Jakarta, East Java and West Java.

Rothmans protests new excise policy

Rothmans protests new excise policy JAKARTA (JP): Cigarette producer PT Rothmans of Pall Mall Indonesia, a unit of Australia's Rothmans Holding Limited, lodged a protest on Thursday against the new cigarette excise, saying the tax would kill its business. Company president Peter Barton said the new excise would lead to a sharp increase in the price of regular cigarettes and would kill the country's oldest cigarette brand, Kansas Plain, produced by Rothmans.

Stock Exchange

Stock Exchange Stock prices on the Jakarta Stock Exchange (in rupiah) on April 15, 1999: Shares Close Change Trading Volume ----------------------------------------------------------- Ades Alfindo 400 0 157,500 AHAP Insurance 425 0 0 Alakasa Industrindo 75 0 20,000 Alter Abadi 225 0 0 Alumindo Light Metal 450 0 91,000 Aneka Kimia Raya 125 -25 65,000 Aneka Tambang (Persero) 1,500 0 5,353,500 Anwar Sierad 75 25 2,500 APAC Centertex Corp.

Daniri elected new president of JSX to replace Cyril Noerhadi

Daniri elected new president of JSX to replace Cyril Noerhadi JAKARTA (JP): Members of the Jakarta Stock Exchange (JSX) elected on Thursday Mas Achmad Daniri as the exchange's new president, replacing D. Cyryl Noerhadi. Daniri, previously a legal and trading director of the JSX, secured the position after beating his main rival for the post Avi Yasa Dwipayana, the president of PT Trimegah Securities.