Indonesian Political, Business & Finance News

Archive: 20 April 1999

48 articles found

Four million voters now registered in capital

Four million voters now registered in capital JAKARTA (JP): Over four million city residents, or about 78 percent of total eligible voters, have registered for the June 7 general election, chairman of the Jakarta Provincial Elections Committee (PPD I) Djafar Badjeber said on Monday. Djafar said the large number of registrants showed pessimism about the implementation of the elections was groundless. "This shows that Jakartans support the elections and thus we have to help it succeed," he said.

KPU to decide on interest groups' representatives in Assembly

KPU to decide on interest groups' representatives in Assembly JAKARTA (JP): The General Elections Commission (KPU) is working on the criteria for which interest groups will be given 65 unelected seats in the People's Consultative Assembly and take part in the presidential election in November, an official said. Harun Alrasid said here on Monday the seats in the Assembly would be given to representatives of groups whose interests were not accommodated by existing political parties.

Explosion rocks Istiqlal Mosque

Explosion rocks Istiqlal Mosque JAKARTA (JP): A powerful blast rocked the basement of Istiqlal Grand Mosque, the largest mosque in the region, in the heart of the capital on Monday, injuring at least four people performing their late afternoon prayers. Dozens of glass windows from offices of several Moslem-based organizations, including the Indonesian Ulema Council (MUI), were shattered. The explosion, which occurred at 3:20 p.m, also fractured walls of the 38-year-old mosque.

Mahathir denounces 'racist' white leaders

Mahathir denounces 'racist' white leaders KUALA LUMPUR (AFP): Malaysian Prime Minister Mahathir Mohamad has denounced "racist" white leaders for querying the conviction of his former deputy Anwar Ibrahim on corruption charges, a newspaper reported on Monday. "White leaders are racist leaders," Mahathir was quoted as saying by The Star, the country's top English-language daily.

86 spots declared prone to poll riots

86 spots declared prone to poll riots JAKARTA (JP): Throughout the capital, 86 locations have been identified as being susceptible to violence related to the June 7 general election, an official from the city's social disturbance control center (Pusdalgangsos) said on Monday. Raya Siahaan, head of Pusdalgangsos' data gathering division, said the figure had risen sharply from only 60 spots in January.

Habibie agrees to meet Howard over East Timor

Habibie agrees to meet Howard over East Timor JAKARTA (JP): President B.J. Habibie has agreed to meet Australian Prime Minister John Howard next week in Bali to find ways to end the spiraling violence in East Timor, it was reported in Canberra on Monday. The agreement was reached during a telephone conversation on Monday morning.

Apkindo criticizes new logging system

Apkindo criticizes new logging system JAKARTA (JP): The government's decision to authorize provincial administrations to grant logging contracts to cooperatives and small companies could open up opportunities for corruption, the Association of Indonesian Wood Panel Producers (Apkindo) warned on Monday. Apkindo's executive director, A. Tjipto Wignjoprajitno, said that if corrupt and collusive practices were involved in the granting of logging contracts, the country's forests would suffer.

Medan scrutinizes foreign visitors

Medan scrutinizes foreign visitors MEDAN, North Sumatra: As the general election draws near, the provincial immigration office has placed some 350 foreigners under scrutiny for visa irregularities. Head of the immigration control and sanction affairs office Imam Soeprapto, told Antara on Friday the move was part of efforts to prevent "unwanted incidents" during the June 7 polls.

Mountain climber dies of frostbite

Mountain climber dies of frostbite TEMANGGUNG, Central Java: Mountain climber Suprihatin died of frostbite in her attempted ascent of Mount Sindoro here over the weekend. The body of the 21-year-old university student was evacuated and handed over to her family for burial in her hometown of Yogyakarta on Sunday, Antara reported. Rescue workers said Suprihatin was unable to endure the freezing temperature, estimated at minus 10 degrees Celsius. Her friends' attempt to revive her were to no avail.

IFC lauds Dharmala review verdict

IFC lauds Dharmala review verdict JAKARTA (JP): The International Finance Corporation (IFC) hailed on Monday a Supreme Court review verdict which declared publicly listed PT Dharmala Agrifood bankrupt, saying it would encourage local indebted firms to restructure their debt in good faith. Charles Van Der Mandele, head of IFC's Special Operations Unit in Indonesia, said the ruling indicated the bankruptcy law was implemented correctly.

Court drop charges against Beddu

Court drop charges against Beddu JAKARTA (JP): Dozens of supporters of the former chairman of the State Logistics Agency (Bulog), Beddu Amang, who was charged for his alleged role in a Rp 95.4 billion (US$10.9 million) land scam, celebrated shortly after the South Jakarta District Court dropped the indictment against him on Monday. "Long live justice, long live justice," the supporters shouted after hearing a provisional decision read out by presiding Judge Samsoeddin A.B.

Irianese leader protests police chief's remarks

Irianese leader protests police chief's remarks JAYAPURA, Irian Jaya (JP): A community leader here demanded on Monday that police chief Brig. Gen. Hotman Siagian retract his announcement last week banning the dissemination of a demand for independence Irianese representatives delivered recently to President B.J. Habibie. Theys H. Eluay said Hotman must retract his announcement within one week.

Former official faces six years in jail

Former official faces six years in jail TANGERANG (JP): A prosecutor asked the Tangerang District Court on Monday to sentence a former tax official to six years in jail for involvement in a Rp 1.2 billion (US$137,142) corruption scandal. Prosecutor Hasan Basri also asked the court in his indictment to impose a fine of Rp 30 million on Harry Kamaludin, the former head of Tangerang's Revenue Office. "The defendant caused Rp 1.2 billion in state losses," Hasan said.

Conversion Rates

Conversion Rates Bank Bali's conversion rates on April 19, 1999: TT rates Bank notes rates Buying Selling Buying Selling Rp Rp Rp Rp U.S.

PAN chairman pays visit to Sukarno's grave in Blitar

PAN chairman pays visit to Sukarno's grave in Blitar BLITAR, East Java (JP): Amien Rais of the National Mandate Party (PAN) on Monday visited the grave of founding president Sukarno, the father of rival politician Megawati Soekarnoputri of the Indonesian Democratic Party of Struggle (PDI Perjuangan). Amien made the visit after delivering a political speech at the opening of the Blitar chapter of the party.

PLN allots $15m to deal with Y2K

PLN allots $15m to deal with Y2K JAKARTA (JP): State electricity company PT PLN announced on Monday a US$15 million budget allocation to upgrade its computer system in anticipation of the millennium bug. PLN's division head for information systems Sunggu A. Aritonang, which coordinates the company's Y2K task force, said the firm earmarked $6.5 million of the budget from its own resources and received the remaining $8.5 million in soft loans from the World Bank and Asian Development Bank.

More problems in East Timor

More problems in East Timor As the conflict between armed proindependence and prointegration groups in East Timor continues to claim lives, the real casualty seems to be the credibility of the Indonesian government and the Armed Forces (ABRI). Reports from the province indicate the situation is deteriorating day by day.

BII ready for recapitalization

BII ready for recapitalization JAKARTA (JP): Publicly listed Bank Internasional Indonesia (BII) has raised Rp 1.87 trillion (around US$220 million) in fresh funds to join the government-sponsored bank recapitalization program. The bank said here on Tuesday the amount, raised by its recent limited public offering, was more than the minimum 20 percent of recapitalization funding the bank must provide under the program.

ADB lists reforms to reduce risk of future crises

ADB lists reforms to reduce risk of future crises MANILA (Reuters): The Asian Development Bank has recommended a cautious approach to capital account convertibility among other measures to reduce the risk of a financial crisis similar to that which has engulfed Asia since July 1997.

World Bank states its commitment

World Bank states its commitment We agree with the broad views expressed by Nila Ardhianie in the April 8 edition of The Jakarta Post on the importance of improved monitoring and participation to ensure the best use of development assistance. And we remain committed to seeking new and innovative ways to strengthen monitoring and supervision of bank projects and programs designed to help the poor of Indonesia.

Where to go in Bandung:

Where to go in Bandung: Exhibitions * Fine Arts Exhibition: Wearable, at Galeripadi Jl. Ir. H. Juanda 329 (Phone: 022 2500578/2504229), until April 30. * Medical Botany Exhibition, at Galeri Intaran, Jl. Cigadung Raya Timur 80, 10 a.m. to 5 p.m., until April 30. Performances * Kartini's Letters Reading: by Ratna Sarumpaet at CCF - French Cultural Center, Jl. Purnawarman 32, 7:30 p.m., April 21. * Poetry Reading, by Alis St.

Stock Exchange

Stock Exchange Stock prices on the Jakarta Stock Exchange (in rupiah) on April 19, 1999: Shares Close Change Trading Volume -------------------------------------------------------- Ades Alfindo 400 0 70,000 AHAP Insurance 425 0 0 Alakasa Industrindo 100 0 0 Alter Abadi 225 0 50,000 Alumindo Light Metal 450 0 0 Aneka Kimia Raya 150 -25 51,000 Aneka Tambang (Persero) 1,575 25 27,300,000 Anwar Sierad 75 0 203,500 APAC Centertex Corp.

IMF, Thailand concerned with RP antidumping moves

IMF, Thailand concerned with RP antidumping moves MANILA (AFP): Thailand and the International Monetary Fund (IMF) have expressed concern over recent moves by the Philippines to check alleged "dumping" of foreign products, Trade Secretary Jose Pardo said Monday. Pardo said the IMF was asking for a report on the rise of anti-dumping cases, involving goods brought in at prices far lower than in their home markets. "The IMF wants to determine (how) the cases build up.

Ghalib ready to face Soeharto's lawyer

Ghalib ready to face Soeharto's lawyer JAKARTA (JP): Attorney General Lt. Gen. Andi M. Ghalib on Monday challenged former president Soeharto's lawyer to provide evidence proving his assertions that President B.J. Habibie and his Cabinet were involved in corrupt practices. Speaking to journalists before attending a Cabinet meeting at Bina Graha presidential office, Ghalib described Soeharto's lawyer as lacking goodwill because he preferred to talk to the media rather than the government.

Corruption hides truth in audit reports

Corruption hides truth in audit reports The value of banks' assets reported by public accountants is far lower than those disclosed by international auditors assigned by the government to revalue the assets in a due diligence. Economist Kwik Kian Gie discusses the reasons behind the disparity.

Malaysia clings to capital curbs, plans more restructuring

Malaysia clings to capital curbs, plans more restructuring KUALA LUMPUR (AFP): Malaysia's capital controls will stay put as the government intensifies plans to restructure its financial and corporate sectors, Second Finance Minister Mustapa Mohamed said on Monday. Mustapa said the measures, introduced in September last year, would be maintained until the international financial community implemented concrete measures to regulate or stabilize global capital flows.

15 firms seal deals on debt restructuring

15 firms seal deals on debt restructuring JAKARTA (JP): Chairman of the Jakarta Initiative Task Force Yusuf Anwar announced on Monday that 15 companies reached a debt restructuring agreement with their creditors over US$1.5 billion in foreign exchange debt and Rp 900 billion in local currency debt. He said they were part of the 168 indebted companies which enlisted assistance from the task force to facilitate a debt restructuring process with creditors.

Colombo paper wants Indian minister fired

Colombo paper wants Indian minister fired COLOMBO (AFP): Indian Defense Minister George Fernandes was accused on Monday of supporting Sri Lanka's Tamil Tiger rebels by a state-run daily which called for his dismissal from the caretaker government. The evening Observer newspaper said Sri Lanka's Liberation Tigers of Tamil Eelam (LTTE) guerrillas may be unhappy over Saturday's fall of the Indian government in which their sympathizer was the defense minister.

Australian fighter crashes in training

Australian fighter crashes in training BRISBANE, Australia (AP): An Australian air force F-111 fighter-bomber crashed into the jungle on a Malaysian island overnight during a multinational exercise, authorities said on Monday. The pilot and navigator were killed. The aircraft crashed into the peak of a hill on Pulau Aur, a small island off Malaysia's east coast in the South China Sea, about 10:30 p.m. Australian time (7:30 p.m.

C. Java prone to landslides

C. Java prone to landslides SEMARANG: Many areas of Central Java are vulnerable to landslides, according to the provincial disaster relief coordinating unit. Executive secretary of the unit Soetono told Antara on Monday that the dangerous zone covered 60.73 percent of land across the province. Included are mountain areas in Brebes, Banyumas, Kedu, Purwokerto, Purworejo and villages on the slope of Mount Lawu. "The lands need special treatment before being used as housing and farming plots.

Deadline set for start of training programs for SEAG

Deadline set for start of training programs for SEAG JAKARTA (JP): The National Sports Council (KONI) urged sports organizations to start their training programs by May 7 in preparation for the 20th Southeast Asian (SEA) Games in Brunei Darussalam in August. Moch. Hindarto, KONI's official in charge of athletes development, said the council would call sports organizations on Wednesday to explain their detailed preparations.

BI urged to divulge list of errant bankers

BI urged to divulge list of errant bankers JAKARTA (JP): The country's banking authority must disclose the list of errant bankers to the public in order to increase confidence among would-be investors, according to a legal consultant. Kartini Muljadi of Kartini Muljadi & Partners law firm said on Monday that disclosing the errant bankers would help mend the image of the country's cash-strapped banking industry.

RI growth target difficult to meet: ADB

RI growth target difficult to meet: ADB MANILA (Agencies): The Asian Development Bank has warned 1999/2000 fiscal year targets in Indonesia of zero growth and 17 percent inflation would be hard to achieve. It also warned in its 1999 Asian Development Outlook report that there was a risk of renewed unrest this year and said the country's June election could have an impact on monetary targets.

PBVSI calls up players for tour

PBVSI calls up players for tour JAKARTA (JP): The Indonesian Volleyball Association (PBVSI) has summoned eight national beach volleyballers to attend an extended training program starting on Tuesday. The players will focus on competing in the Southeast Asian beach volley and indoor volley tournament, scheduled from July 19 to July 25 in Bangkok.

RP turns down Taiwan leader

RP turns down Taiwan leader MANILA (AFP): Philippine officials have turned down a proposed personal visit here by Taiwan President Lee Teng Hui, diplomatic sources said on Monday. Foreign Secretary Domingo Siazon withheld a visa due to Manila's "one-China policy", under which it recognizes Beijing as the sole representative of China, said the sources who asked not to be named. Lee had been invited to the Philippines to receive an honorary degree from the Filipino alumni of Cornell University.

Hospital lacks specialists

Hospital lacks specialists KENDARI, Southeast Sulawesi: People suffering from heart, neurological, urinary and pathology-related problems here often have to journey to the South Sulawesi provincial capital of Ujungpandang or Jakarta for the most up-to-date medical treatment. Head of the provincial health office Takahasi Rahmani told Antara on Monday that the local hospital for years lacked doctors specialized in the four fields.

Suspensions for 15 referees reduced

Suspensions for 15 referees reduced JAKARTA (JP): The All-Indonesian Soccer Federation (PSSI) marked its 69th anniversary on Monday by reducing the terms of suspension of 14 referees and eight soccer players. The officials were earlier suspended for periods between six months and 10 years while the eight soccer players were suspended from six months to six years. Organizer Edi Elison said the measure was a routine procedure of the federation. He said the two-year ban on referees, A.

The solution to the Sambas riots

The solution to the Sambas riots By R. Masri Sareb Putra JAKARTA (JP): Many believe the recent riots in Sambas, West Kalimantan, are similar to those breaking out in other parts of the country, including the one in Ambon, Maluku, because they seem to resemble each other in their casus belli and their escalation patterns. However, the backgrounds and the root cause of the riots are obviously contradictory.

BHP wins two 3rd generation coal contracts in Kalimantan

BHP wins two 3rd generation coal contracts in Kalimantan JAKARTA (JP): The government awarded on Monday two contracts of work (COWs) to subsidiaries of the Australian giant mining company Broken Hill Proprietary (BHP) to explore and develop coal resources in Central and East Kalimantan.

Govt understands Xanana's call to arms

Govt understands Xanana's call to arms JAKARTA (JP): Minister of Justice Muladi came out of a meeting on Monday with jailed East Timorese leader Alexandre "Xanana" Gusmao saying he understood the latter's recent call to arms as urging self-defense against aggression by prointegration militias in East Timor.

Local stocks up 6% on foreign fund influx

Local stocks up 6% on foreign fund influx JAKARTA (JP): Local shares prices rose 6 percent on Monday, with the main price index breaching the 500 point barrier for the first time this year on continued foreign liquidity influx into the market, stockbrokers and analysts said. The Jakarta Stock Exchange (JSX) Composite Price Index rose 28.61 points to close at 508.14 points, but still off the intra- day high of 528.54.

Disabled workers' lawsuit postponed

Disabled workers' lawsuit postponed JAKARTA (JP): The Jakarta State Administrative Court postponed on Monday the hearing of a lawsuit filed by at least 80 disabled workers against the Labor Dispute Arbitration Board at the Ministry of Manpower as the board's lawyer lacked an authorization letter. Presiding judge Chairani adjourned the trial until next week, reminding the board's lawyer, Ali Nurdin, to bring the letter with him in the next session. "I'm sorry for the plaintiffs.

Imports of capital goods plunge 37.68 percent

Imports of capital goods plunge 37.68 percent JAKARTA (JP): Indonesia's imports of capital goods dropped 37.68 percent to US$5.69 billion last year from $9.28 billion in 1997, due to plunging investment activities in the country, the Ministry of Industry and Trade said on Monday.

PAL to pay some bills

PAL to pay some bills MANILA (AFP): Regulators on Monday authorized Philippine Airlines (PAL) to pay lessors and creditors US$9.16 million, the Securities and Exchange Commission (SEC). The flag carrier, which is in receivership, had sought to make the payments by April 15 to avoid aircraft being seized outside the Philippines.

Oil spill in Saigon River

Oil spill in Saigon River HANOI (AFP): About 110,000 liters of oil spilled into the Saigon River over the weekend after two carriers collided, police said on Monday. The two Vietnamese vessels collided late on April 16 causing a leak in one which discharged 110,000 liters of machine lubricant into the river which snakes through Ho Chi Minh City. Local experts have not yet determined the environmental damage caused by the spill which has been contained.

Six found dead in Ciamis killing spree

Six found dead in Ciamis killing spree BANDUNG (JP): At least six people have been found dead in what is believed to be part of a larger killing spree in Ciamis regency, West Java, police here said on Monday. The bodies, bearing various types of injuries, were found floating in the Ciwayang River in Pangandaran district of the regency, about 130 kilometers southeast of here.

Sambas refugees' fate hangs in the balance

Sambas refugees' fate hangs in the balance JAKARTA (JP): West Kalimantan authorities have yet to decide whether to relocate nearly 23,000 Madurese now taking refuge in Pontianak and surrounding areas. Ethnic clashes flared up again on Sunday in the Sambas hamlet of Karimunting, 10 kilometers south of the regency capital of Singkawang, claiming four lives and wounding two others. All of them suffered from gunshots. An officer of the Sambas Police, Maj.

RI given until July to implement 'no fire' policy

RI given until July to implement 'no fire' policy JAKARTA (Agencies): Indonesia has until mid-July to implement ASEAN's "zero-burning policy" requiring the prevention of new land-clearing forest fires as a test of Jakarta's resolve, Antara quoted a Singapore health official as saying Monday.