Indonesian Political, Business & Finance News

Archive: 12 May 1999

52 articles found

Won ascends but rupiah slips from 5-month high

Won ascends but rupiah slips from 5-month high SINGAPORE (Dow Jones): The South Korean won strengthened despite government intervention, but the Indonesian rupiah fell back from a five-month high in choppy trading in Asian foreign- exchange markets Tuesday.

Government is maintaining public fear: Ignas

Government is maintaining public fear: Ignas JAKARTA (JP): The government is preserving public fear by leaving many cases of violence over the past year unsettled, observers charged on Tuesday.In a discussion on perception of peace, renowned sociologist Ignas Kleden and noted playwright Ratna...

Hashim hopeful of reviving Trans-Pacific project

Hashim hopeful of reviving Trans-Pacific project JAKARTA (JP): New investors are likely to revive the construction of a partly built US$2.3 billion petrochemical complex in Tuban, East Java, later this year, according to its major shareholder.

Customer satisfaction is number one

Customer satisfaction is number one Known collectively as the Lautan Luas Group, these companies import, manufacture and distribute over 1,000 types of chemicals to more than 2,000 industrial end-users, representing every important manufacturing sector in Indonesia.

Investors express 'bullish' tone on Indonesia: IBRA

Investors express 'bullish' tone on Indonesia: IBRA JAKARTA (JP): Some 18 strategic and portfolio investors plan to bid for 12 companies now in the hands of the Indonesian Bank Restructuring Agency (IBRA) despite the uncertainty caused by the upcoming June general election, according to agency...

Two Bengal tiger cubs christened

Two Bengal tiger cubs christened JAKARTA (JP): Two of the four Bengal tiger cubs born at the Ragunan Zoo in South Jakarta over three months ago were christened on Tuesday.The names -- Bima and Belang -- were selected from entries sent by 379 students of six international schools and two local...

Villagers seek redress for attacks

Villagers seek redress for attacks JAKARTA (JP): At least 50 residents of Sumur Batu village in Citeureup district, Bogor, visited the Jakarta Legal Aid Institute (LBH) on Monday seeking legal advice after allegedly being assaulted by security guards from the Royal Sentul housing complex.

Habibie's communism comment anachronistic

Habibie's communism comment anachronistic Marhaen was the name of a farmer ex-president Sukarno put into the political lexicon under "Marhaenism", the Indonesian alternative to Marxism. Curiously, President B.J. Habibie touched on this dormant ideology in a statement last week. Political analyst J.

Government to raise fund for SEA Games

Government to raise fund for SEA Games JAKARTA (JP): Minister of Youth Affairs and Sports Agung Laksono has said the government is serious in its plan to financially support the training of athletes to compete in the 20th Southeast Asian (SEA) Games in Brunei Darussalam in August.

Brazilian players fail to return home

Brazilian players fail to return home PADANG (JP): Two Brazilian players, Antonio Claudio and Luzardi De Oliviera, have failed to return to their country because their club, PSP Padang, has yet to pay them their salaries.

Paiton Energy committed to PLN's renegotiation program

Paiton Energy committed to PLN's renegotiation program JAKARTA (JP): Electricity company Paiton Energy said on Tuesday it was committed to the renegotiation program launched by state electricity company PLN and dismissed the idea of settling its dispute with PLN through an arbitration court.

Party chapter orders weapons

Party chapter orders weapons SEMARANG, Central Java (JP): A local chapter of a political party has ordered hundreds of sharp weapons from a factory in Klaten ahead of the June 7 elections, an official said here.

Visa system far from perfect

Visa system far from perfect This is in response to Mark Ogilvie's letter published in The Jakarta Post on May 10, 1999.Mark Ogilvie is unfortunately experiencing the same problem as many people around the world.

A neutral president

A neutral president I have been living and working in Indonesia since 1983. I have been everywhere, from Sabang to Merauke, and I have never written a letter to any Indonesian newspaper. But now I am fed up with all these problems.

Debt settlement solution sought

Debt settlement solution sought JAKARTA (JP): Representatives of the Attorney General's Office have offered a helping hand to the Gelora Senayan Management Board (BPGS) in finding a solution to the settlement of a debt owed by a consortium assigned to manage the 19th Southeast Asian Games.

Government to cut import duties on truck, bus components

Government to cut import duties on truck, bus componentsBy Sylvia Gratia M. Nirang TOKYO (JP): Indonesia is to cut the import duties imposed on components to be used in heavy commercial vehicles, such as trucks and buses, to below 15 percent.

Sutiyoso urges businesses to stay open

Sutiyoso urges businesses to stay open JAKARTA (JP): Governor Sutiyoso urged traders on Tuesday to continue business as usual during the May 19 to June 4 campaign period and the June 7 general election, assuring the traders that business centers in the capital would be adequately guarded by...

Aceh military compound hit by grenade attack

Aceh military compound hit by grenade attack LHOKSEUMAWE, Aceh (JP): Five grenades hit a military complex containing air defense artillery just after midnight on Monday. There were no fatalities or injuries reported in the attack, an apparent reaction to last week's fatal shooting which claimed 41...

Money politics

Money politics With less than four weeks left to the June 7 general election, signs are growing that the polls -- the most crucial this country has held in its 54-year existence -- will not quite be as free and fair as the government promised they would be.

Banjarmasin fire causes big loss

Banjarmasin fire causes big loss BANJARMASIN: Fire broke out Monday night at the Pangeran Antasari market, burning 914 stalls.Mayor Sadjoko estimated losses in billions of rupiah.Antara reported that the worst hit part of the fire that lasted four hours was the ground floor where merchandise was...

Clough wins RI coal contract

Clough wins RI coal contract PERTH, Australia (AFP): Australian engineering and construction group Clough Engineering said Tuesday its Indonesian subsidiary had won a A$91 million (US$61 million) contract extension to work on a big coal project in Borneo.

Singaporean arrested for alleged drug possession

Singaporean arrested for alleged drug possession JAKARTA (JP): City police arrested a Singaporean and two locals for possession of 3,651 ecstasy pills, two grams of heroin and 262 grams of shabu-shabu (crystal amphetamine).City police chief of detectives Col.

Stock Exchange

Stock ExchangeStock prices on the Jakarta Stock Exchange (in rupiah) on May 11, 1999: Shares Close Change Trading Volume ----------------------------------------------------------- Ades Alfindo 375 0 129,000 AHAP Insurance 425 0 0 Alakasa Industrindo 275 0 0 Alter Abadi 275 0 32,500 Alumindo Light...

Resolve Trisakti incident: Observers

Resolve Trisakti incident: Observers JAKARTA (JP): A number of people from several backgrounds have called on President B.J. Habibie's administration to bring a speedy end to the now year-long investigation of the May 12 Trisakti shooting incident.

Regent suspended pending probe

Regent suspended pending probe SURABAYA, East Java: To allow for a police probe into mass murder in his regency, Banyuwangi Regent T. Purnomo Sidik was "temporarily discharged" on Monday, Antara reported.

New law looks to revive TV industry

New law looks to revive TV industryBy Antariksawan Jusuf JAKARTA (JP): Hope is running high for a new much-awaited law on the mass media to nurse back to health the Indonesian television industry, which has been laid low by the economic crisis.

Increasing exports, the perfect choice for the chemical industry

Increasing exports, the perfect choice for the chemical industry The economic crisis continues, yet the chemical industry is surviving. A 12.9 percent increase of exported products in 1998, compared to 1997, can be used as a parameter of how it has survived, as well as how it has proved a careful...

Bullets, military accessories seized

Bullets, military accessories seized JAKARTA (JP): North Jakarta police on Monday seized 106 bullets for AK-47s, 27 bullets for FN pistols and military accessories from a man, who was arrested a day before for possessing a holster and 90 grams of putaw (low grade heroin).

Police train parties' security

Police train parties' security BOGOR (JP): Police gave a training course for about 430 security officers from 43 political parties on Tuesday and Wednesday to help maintain security before and during the June 7 General Election.Bogor Mayor R.

Skip your breakfast and take a trip to Bogor

Skip your breakfast and take a trip to Bogor BOGOR, West Java (JP): When my friend W suggested a gastronomic tour of Bogor, I was dubious. "Don't have any breakfast," she ordered. I ignored her advice and tucked into my cardboard breakfast flakes.

Government takes over Humpuss's container terminal operator

Government takes over Humpuss's container terminal operator JAKARTA (JP): Publicly-listed transportation company PT Humpuss Intermoda Transportasi (HIT) confirmed on Tuesday its container terminal operator at Tanjung Priok port had been taken over by the government following failure to pay its...

Parties to stop precampaigning

Parties to stop precampaigning JAKARTA (JP): Following the military's revelation that at least 10 people were killed in recent clashes among party supporters, leaders of the 48 political parties contesting the June 7 general election agreed on Tuesday to stop all precampaign activities.

PT Monagro Kimia ready to face the global era

PT Monagro Kimia ready to face the global era Established in 1988, PT. Monagro Kimia is a joint-venture private company in Indonesia and a subsidiary of the Monsanto company in the U.S. Established in 1906 as a life sciences company, Monsanto is committed to finding solutions the world's needs for...

Antam reports reduced profit

Antam reports reduced profit JAKARTA (JP): Publicly listed gold and nickel mining company PT Aneka Tambang (Antam) reported on Tuesday a 70 percent decline in net profit to Rp 34.06 billion (about US$4 million) in the first quarter this year, from Rp 112.45 billion in the same period last year.

IBRA is legally weak, but needed: Supreme Court justice

IBRA is legally weak, but needed: Supreme Court justice JAKARTA (JP): The creation of the Indonesian Bank Restructuring Agency (IBRA) is legally weak, according to a Supreme Court justice, but its existence is urgently needed to retrieve the nation's assets.

ICO Global links up with GSM operators

ICO Global links up with GSM operators JAKARTA (JP): London-based mobile communications company ICO Global Communications announced on Tuesday the signing of separate satellite roaming agreements with local global system mobile (GSM) network operators Telkomsel and Satelindo.

Truth behind Trisakti shootings sought

Truth behind Trisakti shootings soughtBy A'an Suryana JAKARTA (JP): University students in the capital and across the country will commemorate on Wednesday the one-year anniversary of the Trisakti shooting, in which four students were killed and dozens of others injured when security personnel...

Indonesia 'not ready' to privatize state banks in three years

Indonesia 'not ready' to privatize state banks in three years JAKARTA (JP): Indonesia won't be ready to privatize its state banks in three years time as demanded by the International Monetary Fund, announced State Minister of the Empowerment of State Enterprises Tanri Abeng.

Kahfi to fill vacant city post

Kahfi to fill vacant city post JAKARTA (JP): Deputy Governor for Administrative affairs Abdul Kahfi will temporarily take over the position of head of the city inspectorate office, currently held by Sutardjianto, who has been detained for his alleged involvement in a Rp 2.

DHL Indonesia to launch 'Europe First' campaign

DHL Indonesia to launch 'Europe First' campaign JAKARTA (JP): Courier company DHL Worldwide Express plans to launch a massive promotional drive this month for its European service "Europe First", to follow up on the success of its "USA First" campaign.

Riots becoming commonplace in Indonesia

Riots becoming commonplace in IndonesiaBy Ester I. Jusuf The following is the second of two articles reviewing the riots that broke out in Indonesia throughout the year. JAKARTA (JP): After November, riots broke out everywhere. Aceh was one of the most notably violent areas.

S'pore port overtakes HK's

S'pore port overtakes HK's SINGAPORE (AFP): Singapore has dethroned Hong Kong as the world's number one container port, with port operator PSA Corp. Ltd. saying Tuesday it had handled a record quantity of freight last year.Throughput rose seven percent to a record 15.

Growth of chemical industry vital

Growth of chemical industry vital The chemical industry is on the rise, showing the kind of growth one normally sees in crops treated with agrochemicals. While the rest of Indonesia's economy continues to dig its own hole, the chemical industry is pointing the way toward a brighter future of...

Irian-PNG border to be military zone

Irian-PNG border to be military zone JAKARTA (JP): The Indonesian Military (TNI) will declare Irian Jaya borders with Papua New Guinea a military operations zone due to increased separatist rebel activities there, a military spokesman said.Maj. Gen.

Team formed to ensure East Timor ballot

Team formed to ensure East Timor ballot JAKARTA (JP): President B.J. Habibie formed on Tuesday a five- man government team to monitor and ensure the security of a direct vote to be held under UN auspices in East Timor on Aug. 8.Coordinating Minister for Political and Security Affairs Gen.

Conversion Rates

Conversion RatesBank Bali's conversion rates on May 11, 1999: TT rates Bank notes rates Buying Selling Buying Selling Rp Rp Rp Rp U.S. dollar 1 7,590.00 7,630.00 7,590.00 7,670.00Australian dollar 1 5,018.00 5,096.35 4,993.00 5,146.00Austrian schilling 1 591.96 600.07 - -Belgian franc 1 201.92 204.

Army takes lion's share of House seats

Army takes lion's share of House seats JAKARTA (JP): From 38 unelected seats to which legislators from the Indonesian Military (TNI) will be appointed, the Army will get 17, the Navy and Air Force will each get eight and the Police will get five seats.TNI spokesman Maj. Gen.

New parties vow to amend Constitution

New parties vow to amend Constitution JAKARTA (JP): A number of leading political parties contesting the June 7 elections have pledged to amend the 1945 Constitution to facilitate the establishment of a true democratic Indonesia.

Inauguration to host 2,000

Inauguration to host 2,000 YOGYAKARTA: As many as 2,000 people, including President B.J. Habibie, will be invited to attend the May 26 inauguration of Yogyakarta's Pakualaman palace monarch, Prince Ambarkusumo, as the KGPAA Paku Alam IX.

China to field best team against Indonesia

China to field best team against Indonesia COPENHAGEN (JP): Chinese coach Tong Sin Fu said China would not risk losing its chance and would field its strongest team against archrival Indonesia in their Group A match at the Sudirman Cup mixed badminton team championships on Wednesday.

Japanese businesses want security in Indonesia

Japanese businesses want security in IndonesiaBy Sylvia Gratia M. Nirang TOKYO (JP): Japan's business community of the Japan Federation of Economic Organizations (Keidanren) have asked the Indonesian government to give full attention to handling the country's security situation and to give more...

Recycled paper salvages street children's hopes

Recycled paper salvages street children's hopesBy Tjahjono Ep and A. Wisnuhardana YOGYAKARTA (JP): Street children's life is tough indeed. They must struggle to survive every single day. Very often, they have to play cat and mouse with the police who view them as criminals.