Indonesian Political, Business & Finance News

Archive: 23 April 1999

53 articles found

Dozens of students, officers hurt in demo

Dozens of students, officers hurt in demo JAKARTA (JP): Hundreds of protesting students from various universities in Bandung, West Java, tried to force their way into the building of state-owned Radio Republik Indonesia and became locked in a clash with security personnel, Antara reported on Thursday. Dozens of students and security personnel were injured in a flurry of stones thrown by both sides in the incident. Cibenying Police chief Capt. Edy Sukiswa was among the wounded.

ICAC linkups to improve air cargo services

ICAC linkups to improve air cargo services JAKARTA (JP): The Indonesia Air Cargo Agents Club (ICAC) signed on Thursday memorandum of understanding agreements with Soewarna Commercial Park, the Association of Indonesian Express Services (Asperindo) and PT Aplikanusa Lintasarta (Lintasarta) to optimize the quality and competitiveness of their cargo services.

Indonesia needs more 'carrot' and less 'stick'

Indonesia needs more 'carrot' and less 'stick' By Edward Neilan TOKYO (JP): What Indonesia needs from the United States and the rest of the West is more "carrot" and less "stick". Leadership needs to be offered to the important nation which has been devastated by an economic crisis not unlike the U.S. Great Depression. The endless lectures by foreigners from the International Monetary Fund (IMF) showing up in Jakarta and World Bank threats about ending "crony capitalism" should be junked.

Soeharto business empire intact: Australian academic

Soeharto business empire intact: Australian academic SYDNEY (DPA): Indonesia's worst recession since independence has taken a relatively minor toll on businesses controlled by former president Soeharto and his children, an Australian business consultant and author said Thursday. Former diplomat Michael Backman also said that the assets of the former First Family were safe because seizing them would have a negative effect on the confidence of foreign investors.

House attacked after flag removed

House attacked after flag removed JAKARTA (JP): A mob pelted stones at a house belonging to the head of Gintung village in Mauk district in Tangerang late Tuesday after its owner tore down a Golkar flag hoisted near the residence, a police officer said. City police spokesman Lt. Col. Zainuri Lubis identified the house owner on Wednesday as Asep Nawawi, 40.

House passes clean governance bill

House passes clean governance bill JAKARTA (JP): The House of Representatives (DPR) endorsed on Thursday a bill on clean governance, which will oblige all government officials to declare their assets when they begin and end their tenures with the state. The new piece of legislation, expected to be formally enacted into law by President B.J.

Brawl between two ethnic groups

Brawl between two ethnic groups JAKARTA (JP): One man was injured during a brawl late Tuesday between two ethnic groups in Koja subdistrict, North Jakarta, according to a city police report. The brawl between a Madurese ethnic group (from East Java) and a group of Bugis (from South Sulawesi) was believed to have been sparked by the beating of a Bugis boy by a Madurese man three days earlier.

Nissho Iwai buys RI stake

Nissho Iwai buys RI stake TOKYO (Dow Jones): Company sources said Nissho Iwai Corp., a general trading company, has bought a stake in a natural gas development block in Indonesia to develop new natural gas fields, the Nihon Keizai Shimbun reported in its Thursday morning edition.

RI facilitates Aussie exports

RI facilitates Aussie exports JAKARTA (JP): Exports from Australia's Northern Territory to Indonesian islands outside Java and Sumatra will be exempted from customs inspections, the Ministry of Finance said on Thursday. Ministry spokesman Hadiyanto said the facility was made possible after the government posted two customs officials to Darwin to check all customs preshipment requirements for Northern Territory exports to Indonesia.

Stock Exchange

Stock Exchange Stock prices on the Jakarta Stock Exchange (in rupiah) on April 22, 1999: Shares Close Change Trading Volume -------------------------------------------------------------- Ades Alfindo 375 0 5,000 AHAP Insurance 425 0 0 Alakasa Industrindo 100 0 0 Alter Abadi 200 -25 30,000 Alumindo Light Metal 500 25 313,500 Aneka Kimia Raya 150 0 10,000 Aneka Tambang (Persero) 1,550 75 2,545,500 Anwar Sierad 75 0 0 APAC Centertex Corp.

ASEAN economic crisis: Blessing in disguise?

ASEAN economic crisis: Blessing in disguise? The following article is based on a paper presented by Rodolfo C. Severino, secretary-general of the Association of Southeast Asian Nations (ASEAN), at the opening of the seventh ASEAN Editors Conference in Jakarta on April 12, 1999. JAKARTA: ASEAN members know that for their economies to recover they have to bring back investment -- to stimulate economic activity, create jobs and raise people's standards of living to what they were before the crisis.

Asian crisis leaves women, kids vulnerable to trafficking

Asian crisis leaves women, kids vulnerable to trafficking BANGKOK (AP): Asia's economic crisis has left women and children seeking work outside their own countries more vulnerable than ever to prostitution and human-trafficking gangs, experts said on Thursday.

Firm supplies powdered baby food

Firm supplies powdered baby food BOGOR (JP): A subsidiary of giant noodle maker Indofood Sukses Makmur, PT Gizindo Prima Nusantara, in cooperation with Unicef, launched distribution of its third batch of low-cost powdered baby food on Thursday. The sale of 2,525 metric tons in seven provinces across the country was launched at Karang Asem Barat village in Citeureup by the chairwoman of the state-sponsored Family Welfare Movement (PKK) Mrs.

Tensions remains despite peace pact

Tensions remains despite peace pact DILI, East Timor (JP): Tension continued here one day after the signing of the historic peace pact between proindependence and prointegration groups, as economic activities resumed and children returned to school. Several gunshots were heard as prointegration militia continued to patrol some streets and conducted ID checks on residents. One journalist reported being threatened by a prointegration group waving machetes.

Standard Chartered to inject US$56 million into Bank Bali

Standard Chartered to inject US$56 million into Bank Bali JAKARTA (JP): The United Kingdom-based Standard Chartered Bank agreed on Thursday to inject US$56 million (Rp 487 billion) into publicly listed Bank Bali to finance 20 percent of the bank's recapitalization funding requirement. The deal represents the first foreign investor participation in the recapitalization of the country's battered banking industry.

Number of people going abroad 'normal'

Number of people going abroad 'normal' JAKARTA (JP): Director General of Immigration M. Mudakir said on Thursday the rate of Indonesians traveling abroad through Soekarno-Hatta International Airport remained normal despite mounting speculation of unrest ahead of the June 7 general election.

PSSI to announce SEA Games team

PSSI to announce SEA Games team JAKARTA (JP): All-Indonesian Soccer Federation (PSSI) secretary for the national team John Halmahera met with National Sports Council (KONI) officials on Thursday to report on his organization's preparation for the 20th Southeast Asian (SEA) Games in August.

Indonesia's long-term objectives

Indonesia's long-term objectives By Jusuf Wanandi JAKARTA (JP): The country has been in a state of fervor since the onset of the financial crisis in July 1997. Rapid changes have occurred across the board and affected every segment of society. Yet, change is taking place in a very disorderly way. It is because the political system stalled during the last 20 years of Soeharto's reign due to his constant refusal to accept any change, which he considered a threat to his retention of power.

Compromise reached on parking fee hike

Compromise reached on parking fee hike JAKARTA (JP): The city administration and the City Council reached a compromise on Thursday, agreeing to raise parking fees to between Rp 500 and Rp 1,000 for sedans, jeeps, minibuses and vans.

Golkar still the same

Golkar still the same From Sinar Pagi In my opinion, despite the claim made by the Functional Group (Golkar) that it has scrapped the A, B and G channels, standing respectively for the Armed Forces, the bureaucracy and Golkar itself, Golkar has not completely abandoned these channels. Golkar declaring itself as New Golkar most probably means that it has now added the word "Party" after it, i.e. Golkar Party.

Soothsayers refuse to talk politics

Soothsayers refuse to talk politics By Ida Indawaty Khouw JAKARTA (JP): While people can now express their opinions more freely thanks to the massive reform movement, fortune-tellers in the busy Glodok business district in downtown Kota were less forthcoming than many people.

Where to go in Jakarta:

Where to go in Jakarta: Exhibitions * Painting Exhibition: Kesejukan dan Kedamaian di Atas Kanvas, Wisma BSG, 2nd floor, Jl. Abdul Muis no. 40, Central Jakarta, until April 26. * Painting Exhibition: Serangkum Tujuh Warna, at Shangri-La Hotel, Jl. Jend. Sudirman Kav.1, Central Jakarta (Phone: 5707440), until April 28. * Installation, Drawing Exhibition: Rape 'n Rob by Arahmaiani, at Galeri Milenium, Blok B-23, Jl. R.S. Fatmawati No. 15, South Jakarta (Phone: 7507828), until May 11.

Sudirman Cup players protest tough training

Sudirman Cup players protest tough training JAKARTA (JP): With less than three weeks to the Sudirman Cup and World Championships, several men's singles shuttlers have complained about the rigors of a physical training program organized by the Badminton Association of Indonesia (PBSI). The 1999 All England finalist Taufik Hidayat told The Jakarta Post and Kompas daily on Wednesday that he worried the program might affect his speed or cause injury.

Death toll in Banda, Hatta violence increases to six

Death toll in Banda, Hatta violence increases to six AMBON, Maluku (JP): The Banda Islands in Central Maluku were reportedly calm on Thursday after being hit by violent communal clashes on Tuesday. But Maluku Police chief Col. Bugis M. Saman said the number of casualties had risen to six from the four reported earlier. The first casualty was identified as Dade Umar, 27, of Hatta Island.

House members to give oil and gas bill hard look

House members to give oil and gas bill hard look JAKARTA (JP): A leading legislator expressed optimism on Thursday that the House of Representatives would be able to pass the controversial oil and gas bill before the end of their terms in August.

Oil demand rising, but boom days gone: Expert

Oil demand rising, but boom days gone: Expert LONDON (Reuters): World oil demand growth will pick up this year as Asia's battered but energy-hungry economies start to recover, BP Amoco's chief economist Peter Davies said on Thursday. However gains in the coming years will probably be slower than during the early and mid-1990s when the world's need for oil grew annually by about two million barrels per day (bpd), he said.

Golkar's arrogance

Golkar's arrogance From Neraca Even though the decadence of the New Order administration has now been exposed, it has not led the Golkar Party to understand its former mistakes. Golkar has not learned their lesson from the incident in which vehicles bearing Golkar chairman Akbar Tandjung and his retinue were forced to stop in Central Java. And let us not forget another incident in which the stage intended for a Golkar mass rally in Surabaya was destroyed.

Govt sells stake in Indofood

Govt sells stake in Indofood JAKARTA (JP): The government has sold its remaining 86.3 million shares, or about 4.7 percent, in publicly listed instant noodle maker PT Indofood as part of the ongoing privatization program. The office of the state minister of the empowerment of state enterprises announced on Wednesday that the shares were sold to fund managers through the Jakarta Stock Exchange at Rp 5,800 per share on Tuesday.

Construction bill upholds open tender process

Construction bill upholds open tender process JAKARTA (JP): The House of Representatives on Thursday passed the bill on construction services, which requires both state and private construction works to be offered through an open tender process. The bill stipulates that any construction failure during the first 10 years after completion of a job is the responsibility of the contractor. Under the bill, the public have the right to sue a contractor for construction failures or damages.

Libya offers help to the Philippines

Libya offers help to the Philippines MANILA (DPA): The Libyan government has offered to help spur economic development in the strife-torn southern Philippines by bringing in investment and assisting in the peace process with rebels, President Joseph Estrada said on Thursday. Estrada announced before leaving for a provincial trip that the offer was made by Saif Al Islam Al Qaddafi, a son of Libyan President Moammar Qaddafi, during a meeting at the Malacanang presidential palace late Wednesday.

INRO begins meeting with future in doubt

INRO begins meeting with future in doubt KUALA LUMPUR (Reuters): The International Natural Rubber Organization (INRO) began a meeting of its policy-making council on Thursday which officials said could determine the fate of the world's last commodity pact with economic clout. The council was expected to decide on a proposal to adjust INRO's intervention price range at the two-day meeting in the Malaysian capital, officials said.

Conversion Rates

Conversion Rates Bank Bali's conversion rates on April 22, 1999: TT rates Bank notes rates Buying Selling Buying Selling Rp Rp Rp Rp U.S.

Give peace a chance

Give peace a chance The peace agreement signed by the hostile East Timor factions in Dili on Wednesday comes at a crucial time when the issue of the troubled province is close to an international settlement. The deal, brokered by the Armed Forces and endorsed by the local Catholic clergy, should halt the violence between those seeking independence and those wanting to remain part of Indonesia, clashes which have bordered on a civil war in the last four months.

Indian demand lifts Malaysian palm oil

Indian demand lifts Malaysian palm oil KUALA LUMPUR (Reuters): Malaysian palm oil prices will remain firm in the near term on the back of rising demand, particularly from major importer India, traders said on Thursday. But an expected increase in domestic stocks would limit the market's upside in the longer term, they said. Local palm oil prices rose sharply in recent days on supportive export data and short-covering on the physical market, but pulled back on Thursday on profit-taking.

Creditors approve Danareksa debt restructuring

Creditors approve Danareksa debt restructuring JAKARTA (JP): State-owned investment company PT Danareksa won approval from its 60 creditors on Thursday to restructure its US$196 million in foreign debt. Danareksa executive Edgar Ekaputra said under the debt restructuring agreement, the maturity period of $148.5 million of the total debt, mostly in short-term promissory notes, was extended to eight years, while the maturity period for the remaining debt was extended to three years.

Three parties to cooperate for polls' success

Three parties to cooperate for polls' success JAKARTA (JP): Three rival political parties pledged on Thursday to cooperate to foil any attempt by any parties to disrupt the June 7 elections. They also called on proreform parties to be wary of "dirty tricks" launched by pro-status quo elements.

Mega still says no to presidential debate

Mega still says no to presidential debate JAKARTA (JP): Popular politician Megawati Soekarnoputri reiterated on Thursday her refusal to take part in a presidential debate because she was afraid the event would turn into a mindless argument, a party official said.

Computer network used to collect vote results

Computer network used to collect vote results JAKARTA (JP): The General Elections Commission (KPU) promises transparency in the ballot-counting process for the June 7 elections, with a plan to develop an integrated database network to collect votes from all 327 regencies and a public information service. KPU deputy chairman Adnan Buyung Nasution said in a news briefing on Thursday the commission signed a cooperation with several companies to set up the network.

Employment opportunities

Employment opportunities JAKARTA (JP): Ernst & Young, Hanadi, Sarwoko and Sandjaja, an accounting joint venture, is offering 30 employment opportunities to students of the University of Indonesia, Trisakti University and Padjadjaran University in Bandung, West Java. The initiative was disclosed on Thursday as part of Ernst & Young's plan to conduct roadshows and selection tests in the three universities.

No Y2K problems for RI aviation industry

No Y2K problems for RI aviation industry JAKARTA (JP): Indonesia's aviation industry will have its computer systems free from any problems posed by the millennium bug by the second quarter of this year, Minister of Communications Giri Suseno Hadihardjono said on Thursday. He said the government, airport managements and airline operators had given high priority to dealing with the millennium bug, also known as the Y2K.

'Mitra' magazine provides forum for thinkers

'Mitra' magazine provides forum for thinkers By Stevie Emilia JAKARTA (JP): Looking at the cover of the first edition of the relaunched Mitra magazine, Budaya Pemilu, Budaya Pemalu (the Election Culture, the Shy Culture), one might assume the magazine is just one of many new publications hitting the newsstands. But that would be a wrong assumption. Mitra is a quarterly journal of culture and philosophy published by the Mitra Budaya Indonesia Foundation.

High explosive device caused Istiqlal blast

High explosive device caused Istiqlal blast JAKARTA (JP): Police announced on Thursday that the blast at the Istiqlal Grand Mosque was caused by a bomb made from a highly explosive mixture of trinitrotoluene (TNT) and potassium chlorate. Maj. Gen. Noegroho Djajoesman told reporters that investigative police, who have little clue about those responsible for Monday's blast or their motives, recently received the results from the National Police Forensic Laboratory analysis.

W. Sumatra prone to food shortage

W. Sumatra prone to food shortage PADANG, West Sumatra (JP): Hundreds of local officials were visibly stunned on Thursday after viewing a video showing severely malnourished children -- and hearing that the province was the most prone to food crises.

Local leaders want police chief replaced

Local leaders want police chief replaced JAYAPURA, Irian Jaya: Community leaders expressed outrage on Wednesday at a ban imposed by provincial police chief Brig. Gen. Hotman Siagian, which prohibits disseminating information from their recent meeting with President B.J. Habibie, during which they conveyed a separatism preference. The police chief last week issued a directive banning the 100 community leaders from speaking to the public about the meeting.

IOC scandal forces Sydney into $48.5 million cuts

IOC scandal forces Sydney into $48.5 million cuts SYDNEY (Reuters): Organizers of the 2000 Sydney Olympics took an axe to the Games' budget on Thursday, blaming the IOC corruption scandal for putting off potential sponsors. They also chose to save Britain's Queen Elizabeth the cost of trip to her distant dominion by deciding that Prime Minister John Howard should declare the Games open and not Australia's foreign head of state.

Preventing mathematical illiteracy in our culture

Preventing mathematical illiteracy in our culture By Mochtar Buchori JAKARTA (JP): During my visit to Simon Fraser University in Vancouver last February I met an Indonesian graduate student who was pursuing a masters in Mathematics Education. She told me she was more interested in the "education part", rather than the "mathematics part" of the program. The reason was, she said, because she did not want to become a mathematician.

IBRA may recover only fraction of bad debts

IBRA may recover only fraction of bad debts JAKARTA (JP): Less than half of the more than Rp 400 trillion (about US$47 billion) worth of bad debts transferred to the Indonesian Bank Restructuring Agency (IBRA) is expected to be recovered, agency chairman Glenn Jusuf said here on Thursday.

Machiavellian plot

Machiavellian plot Methinks there is some Machiavellian plot afoot! We all know that Mr. Habibie has a brilliant brain, and also know that he and his pro-Soeharto government, backed by their very own Golkar, will do everything in their power to win the elections, leading to the President's reelection in due course. So how does he set about this?

RI, Portugal resume talks on E. Timor's future

RI, Portugal resume talks on E. Timor's future JAKARTA (Agencies): Amid praise for the recent signing of a peace pact between East Timorese groups for and against independence, Indonesia and Portugal this week hope to complete an autonomy package proposal for the troubled territory.

KL cancels $1b loan to RI

KL cancels $1b loan to RI KUALA LUMPUR (Dow Jones): Malaysia, burdened by its own economic problems, has canceled its offer to provide a US$1 billion loan to Indonesia, Second Finance Minister Mustapa Mohamed was cited as saying by the national news agency Thursday. The Malaysian government was forced to cancel the loan as a result of the economic slowdown which had set in since September last year, Bernama news agency reported him saying in Parliament. Malaysia expressed its intention in Oct.

Caltex scholarships for poor students

Caltex scholarships for poor students PEKANBARU, Riau: As many as 39,000 disadvantaged students will receive scholarships this year from the Caltex oil company and the Riau Kedepan Foundation, Antara reported on Thursday. Deputy general manager of PT Caltex Pacific Indonesia Tengku Amir Sulaiman, said on Wednesday another 3,000 students would also receive assistance in a joint scheme with the Chevron Texaco Foundation.

Poll must go on, 'come hell or high water'

Poll must go on, 'come hell or high water' JAKARTA (JP): The June 7 general election must be held no matter what, respected scholars Nurcholish Madjid and Mochtar Pabottingi said on Thursday. Speaking at a discussion here, both scholars strove to fend off growing pessimism among some people the poll could be delayed due to recent unrest which has broken out in a number of regions across the country.

The Istiqlal bombing

The Istiqlal bombing The best stand Muslims can take (after the Istiqlal Mosque bombing) is to stay calm and not let themselves be provoked. That, however, does not mean they must remain passive and accept things as they are. Rather, they should consolidate their ranks while giving the authorities a chance to solve the case. The Istiqlal Mosque bombing delivered a heavy psychological blow (to Muslims), but it would be overhasty for anyone to use the incident as a vehicle for sparking unrest.