Indonesian Political, Business & Finance News

Archive: 10 June 1999

51 articles found

Ballot counting ends in chaos

Ballot counting ends in chaos PALANGKA RAYA, Central Kalimantan: Many mayoralty election officials here have absented themselves from the polling process, upon realizing their parties were performing poorly, Antara reported on Wednesday. "As a result, no returns from the mayoralty have reached the local elections committee", Matlim Alang, deputy chief of the Central Kalimantan elections committee told Antara.

Strong economic outlook pushes won to 5-month high

Strong economic outlook pushes won to 5-month high HONG KONG (Dow Jones): A rally in the yen combined with a strong fundamental economic outlook to push the South Korean won to a five-month high against the U.S. dollar during Asian trading hours Wednesday. A similar story was credited with lifting the New Taiwan dollar to its strongest level in three and a half months, but in South East Asia, regional currencies slipped back as caution tempered the enthusiasm seen Tuesday.

Foreigners can acquire, establish holding firms

Foreigners can acquire, establish holding firms JAKARTA (JP): The government issued new decree on Wednesday allowing foreign investors to establish a holding company or acquire stake up to 100 percent in existing ones. State Minister of Investment Marzuki Usman said that the new measure was introduced to help speed up the debt restructuring of the local business groups.

Golkar activists play money politics

Golkar activists play money politics SEMARANG: The Central Java provincial elections committee alleged that Golkar activists in Wonogiri, Rembang, Pemalang and Kudus regencies were involved in vote buying. "In Wonogiri, local deputy chief Suparman was caught red- handed distributing money to people going to the polls on Monday morning," Novel Ali, deputy chief of the elections committee said on Wednesday.

Emotional Ghalib calls ICW executive 'animal'

Emotional Ghalib calls ICW executive 'animal' JAKARTA (JP): The war of words between Attorney General Lt. Gen. Andi M. Ghalib and Indonesian Corruption Watch (ICW) executive Teten Masduki turned from trading accusations on Wednesday to trading insults, with Ghalib calling his adversary "an animal". "I have not committed anything, and he already has accused me of corruption, bribery.

Where to go in Surabaya:

Where to go in Surabaya: Exhibitions * Children's Painting Exhibition at the Gallery CCCL - French Cultural Center, Jl. Darmokali 10 (Phone: 031 5678639), 9 a.m. to 8 p.m., June 12-17. * Photo Exhibition: By Elizabeth Carecchio, at the Gallery CCCL - French Cultural Center, 9 a.m. to 8 p.m., Jun. 25 to July 10. Performance * Music, at CCCL - French Cultural Center: Apresiasi Musik Keroncong Indonesia '99, organized by Kelompok Kerja Realita, 6 p.m. to 9 p.m., Jun. 19-20. Pesta Musik'99, 4 p.m.

TV today

TV today TVRI 5:30 a.m. Religious Teachings 6:00 News: Two Hours Only 8:00 Children's Program 9:00 Music 10:00 Interval 2:00 p.m. News 2:30 TV Series 3:00 Music 4:00 News 4:30 Religious Teachings 5:00 Koran Recital 5:30 TV Drama 6:00 Sports 6:30 News (in English) 7:00 Evening News 7:30 TV Drama 9:00 World News 9:35 Talk Show 10:30 Music 11:35 Late News Program 2 4:30 p.m.

Cambodia welcomes Le Kha Phieu

Cambodia welcomes Le Kha Phieu PHNOM PENH (Reuters): Vietnam's Communist Party Secretary- General Le Kha Phieu was given a red-carpet welcome upon arrival in Cambodia on Wednesday for a 24-hour visit aimed at ironing out nagging disagreements between the neighbors.

Irian ex-hostages still traumatized

Irian ex-hostages still traumatized JAYAPURA, Irian Jaya: Most of the 11 Irianese, kidnapped on May 5 by an armed group who were rescued 36 days later, have refused to return to work at Mur II Inti Arso PIR V resettlement transmigration area. The villagers said they preferred to remain in temporary shelters in a nearby area rather than returning to their residences and working for the state PTP II plantation firm.

Ghalib offers to buy ties 'banned' reporters

Ghalib offers to buy ties 'banned' reporters JAKARTA (JP): Attorney General Andi M. Ghalib denied banning three local news journalists at his office. "It was merely a misunderstanding with (my office's) public relations division," Ghalib told reporters on Wednesday prior to a Cabinet meeting at Bina Graha presidential office. He claimed that he did not ban any journalists from covering a story at his office but asked them to behave and dress properly.

Stock Exchange

Stock Exchange Stock prices on the Jakarta Stock Exchange (in rupiah) on June 9, 1999: Shares Close Change Trading Volume ------------------------------------------------------------ Ades Alfindo 450 0 204,500 AHAP Insurance 525 0 0 Alakasa Industrindo 275 0 0 Alter Abadi 325 0 366,000 Alumindo Light Metal 925 -175 5,000 Aneka Kimia Raya 400 0 133,500 Aneka Tambang (Persero) 1,700 -50 6,182,500 Anwar Sierad 275 0 66,500 APAC Centertex Corp.

Rupiah, stock prices tumble on Golkar's strong showing

Rupiah, stock prices tumble on Golkar's strong showing JAKARTA (JP): The Indonesian rupiah and stock prices ended lower on Wednesday after rising astronomically the previous day, as the market got jittery from the strong showing of ruling Golkar party at the polls. The rupiah slid to 7,870 against the U.S. dollar at Wednesday's trading close, from Tuesday's close of 7,650; while the Jakarta Stock Exchange (JSX) Composite Index closed down 1.4 percent or 7.977 points at 678.97.

PASI eying six golds in 20th SEA Games

PASI eying six golds in 20th SEA Games JAKARTA (JP): The Indonesian Amateur Athletics Association (PASI) is eying a target for six golds in the 20th Southeast Asian (SEA) Games in Brunei in August. PASI technical committee deputy Pieter Noya said the country held good chances of winning six golds in the biennial event, two less than its tally at the 1997 Games here.

Keep presidential term short

Keep presidential term short Indonesia possesses great potential with its natural and human resources. Its beauty attracts tourists who want to come and see all it has to offer. This has led Indonesia to be dependent on tourism as one of its financial strengths. Nature gives people basic necessities in life, even for people from other countries who come to work with us. We are also an exporter of various products. Indonesia is indeed a rich country.

China refuses to be blown by the winds of change

China refuses to be blown by the winds of change This is the second of two articles on changes taking place in Indonesia, South Africa and China as reported by The Jakarta Post Asia correspondent Harvey Stockwin. HONG KONG (JP): The future economic growth of South Africa and Indonesia is by no means assured. Their political advance may well be chequered. But these two general elections bracketing June 4 symbolize that both South Africa and Indonesia have clearly progressed over the last decade.

Final returns expected in one more week

Final returns expected in one more week JAKARTA (JP): Townspeople eager to know the final returns will be kept in suspense until June 17. Chief of the Jakarta Provincial Elections Committee Djafar Badjeber said on Wednesday the announcement date had been set by the General Elections Commission (KPU). Djafar acknowledged the flow of returns to the KPU was irritatingly slow because of the long line of bureaucratic procedures involved.

Where to go in Bali:

Where to go in Bali: Exhibition * Arts Exhibition: A Diversity in Art, by Art Teachers of Denpasar Art Academy and Udayana University, at Museum Puri Lukisan, Jl. Raya Ubud, Gianyar (Phone: 0361 975136), 8 a.m. to 4 p.m., until June 30. Music and Entertainment * Hard Rock Hotel, Jl. Pantai, Banjar Pande Mas, Kuta (Phone: 0361 761869): - Lobby Bar, 7:30 p.m. to 10:30 p.m.: Macumba Band, Monday, Tuesday, Friday, Saturday. Traffic Blues Band, Thursday, Siluet Band, Wednesday, Sunday.

Peaceful be my country

Peaceful be my country From Rakyat Merdeka Indonesia is now entering a significant stage in its history. What has been done and what will be done will greatly affect the future of the country. The problems that have arisen are diverse, complicated and inter-related. It is frequently heard or read in the electronic and print media that political parties, in their campaigns, justify any means to achieve their goals.

Five shot in Banyumas clash

Five shot in Banyumas clash BANYUMAS, Central Java: At least five people were shot when local police fired their guns to break up a clash between residents of two neighboring villages in Banyumas regency on Tuesday morning. Another resident was injured after being trampled by the brawling crowd. A village administration office and dozens of houses were damaged.

Economy will grow if Indonesia names president quickly

Economy will grow if Indonesia names president quickly SINGAPORE (Dow Jones): The Indonesia economy could grow this year if, contrary to expectations, the country selects its next president quickly and returns to political stability, a top economist for the Pacific Economic Cooperation Council (PECC) said Wednesday.

Money politics burdens democratization

Money politics burdens democratization Money Politics -- Pengaruh Uang Dalam Pemilu (Money Politics -- The Effects of Money in Elections); By Indra Ismawan; Media Pressindo, Yogyakarta, April 1999; iv and 82 pages YOGYAKARTA (JP): Money used as a means to gain political power is not a new practice. Nicolo Machiavelli once stated that any way can be used to get power. "The buck stops here", said former U.S. president Harry Truman. Even the president seat in U.S.

Some areas demand that polls be repeated

Some areas demand that polls be repeated JAKARTA (JP): As provincial elections committees continued to tally the votes on Wednesday, reports of elections violations and demands to repeat the polls in certain areas continued to flow in from the provinces. In West Nusa Tenggara, there was confusion when poll results reported by the elections committee were claimed to be "internal results" compiled by the administration's sociopolitical office for the Ministry of Home Affairs.

Unocal finds oil in Rapak

Unocal finds oil in Rapak JAKARTA (JP): State oil and gas company Pertamina announced on Wednesday that its American contractor, Unocal Indonesia, has discovered an oil reserve at its Rapak production sharing contract area in East Kalimantan. Pertamina said it was the first oil discovery to be made by the company in the contract area. The oil was found at the Janaka North #1 well, with thickness of 55 feet (high quality reservoir) at an absorption rate of more than 35 percent.

Sri Lanka to quit INRO due to financial burden

Sri Lanka to quit INRO due to financial burden COLOMBO (Reuters): Sri Lanka wants to pull out of the International Natural Rubber Organization (INRO) because it can no longer afford membership, government and trade officials said on Wednesday. Sri Lanka has submitted a letter indicating its intention to withdraw from the INRO to the UN trade and development agency UNCTAD, said Sunil de Silva, additional secretary at the ministry of plantations.

Asian bond spreads tighten despite U.S. rate concern

Asian bond spreads tighten despite U.S. rate concern HONG KONG (Dow Jones): Recent rallies in regional stock markets helped Asian bonds temporarily overcome U.S. interest rate concerns to see a further tightening of spreads. Korea's 2008 bond, the most liquid benchmark in the region, has narrowed close to all-time lows. It's quoted at 215 basis points over Treasurys, compared to 233 basis points a week ago.

South Sumatra councilor and official detained for drugs

South Sumatra councilor and official detained for drugs JAKARTA (JP): The deputy speaker of South Sumatra's Musi Rawas Regency Legislative Council and an aide to the provincial governor were arrested on Tuesday night in a hotel room in West Jakarta for being under the influence of shabu-shabu (crystal methamphetamine).

Conversion Rates

Conversion Rates Bank Bali's conversion rates on June 9, 1999: TT rates Bank notes rates Buying Selling Buying Selling Rp Rp Rp Rp U.S.

Golkar gaining ground in areas outside Java

Golkar gaining ground in areas outside Java JAKARTA (JP): The Indonesian Democratic Party of Struggle (PDI Perjuangan) maintained on Wednesday its lead, but the vote counting result as of 11 p.m. showed Golkar was slowly gaining ground by leading in provinces outside Java. According to the website of the General Elections Commission (KPU), last updated at 10:23 p.m., votes had been tallied from 20 of the 27 provinces.

Two soldiers, one civilian killed in Aceh

Two soldiers, one civilian killed in Aceh JAKARTA (JP): Three bodies, including those of two military personnel, were found at Teupin Batee village in Idie Rayeuk district, East Aceh, on Tuesday evening, a senior official said. Lilawangsa Military Commander Col. Jhonny Wahab told The Jakarta Post on Wednesday night the corpses of the three men displayed multiple stab wounds, while their necks had been broken and their hands bound.

The risk of short-term capital

The risk of short-term capital By Winarno Zain JAKARTA (JP): The rapid rise of the share price index of the Jakarta Stock Exchange (JSX) in the past several weeks was surprising indeed. After hitting 300 early this year, it bounced back to over 600 before declining. Analysts have attributed the rise mostly to buying by foreign investors. This dramatic rise in share prices cannot yet be explained by corporate fundamentals.

PDI-P, PAN and PKB urged to coalesce

PDI-P, PAN and PKB urged to coalesce JAKARTA (JP): Noted Muslim intellectual Nurcholish Madjid called on the Indonesian Democratic Party of Struggle (PDI-P), the National Mandate Party (PAN) and the National Awakening Party (PKB) to form a coalition government to push for reform. PDI-P, PAN and PKB, along with Golkar Party and the United Development Party (PPP), are expected to garner the most votes in the elections.

Forex reserves slide to $15.89 billion

Forex reserves slide to $15.89 billion JAKARTA (JP): Bank Indonesia said on Tuesday its net foreign exchange reserves decreased by US$35 million to $15.89 billion on June 4 compared to the previous week's level. The central bank said in its weekly report that the drop was mainly due to the repayment of government foreign debts. BI said its net international reserves were still above the IMF-adjusted target of $15.4 billion despite the drop.

Asian economies to ride out external risks

Asian economies to ride out external risks HONG KONG (AFP): Asian economies are expected to overcome a possible U.S. interest-rate increase and a sluggish Japanese economy to maintain their recovery, according to a U.S. investment house. Salomon Smith Barney said in a report received here Wednesday that it was "difficult to see the Asian recovery becoming derailed over the course of 1999," even if such risks materialized. "There is too much momentum for that," said the report.

Fatal shooting protested

Fatal shooting protested JAYAPURA, Irian Jaya: The city was tense on Wednesday as approximately 50 people held a sit-in strike in front of the provincial council office to protest Monday's fatal shooting of a Genyem resident at Gresi district here. Arriving in a public Damri bus, the protesters reached Jl. Sam Ratulangie at 12:25 p.m.

The relevance of peaceful elections

The relevance of peaceful elections The smooth general elections is a good beginning. The next step to take is to make sure that all parties accept the results in the spirit of good sportsmanship. A mature attitude, especially among our political leaders, will have a substantial effect on this country's political stability and security situation in the coming weeks. The value of the rupiah will be put on the line because the market has its own perception of the situation.

Poll praise premature: Experts

Poll praise premature: Experts JAKARTA (JP): Foreign and local observers both voiced on Wednesday grave concern over the snail's pace of vote counting as an unofficial tally showed the ruling Golkar Party leaping into second place and opposition parties aired suspicion of foul play.

Protesting workers make 10-km march

Protesting workers make 10-km march TANGERANG (JP): Hundreds of workers of furniture manufacturer PT Arjuna Maha Sentosa protested on Wednesday by marching from the Tangerang office of the Ministry of Manpower to their company's factory on Jl. Kasir II in Gembor village, Jatiuwung. Their march, covering about 10 kilometers, caused heavy traffic jams. "We will continue our protest until our demands are met," a protester who asked not to be named said.

Abduction claims from poll watcher

Abduction claims from poll watcher BANDARLAMPUNG, Lampung: A poll monitoring volunteer was abducted early Tuesday by four unidentified men who sought "cooperation" to beat main opposition parties, Antara reported on Wednesday. The volunteer from the Rectors Forum, who declined to be named, said he was released unharmed two hours after the initial abduction.

Councilors banned from side jobs

Councilors banned from side jobs JAKARTA (JP): City Council Speaker Edy Waluyo said on Wednesday he notified Governor Sutiyoso in writing that councilors should not be assigned to additional duties. "According to Article 42 of Law No. 16, councilors holding side jobs can face dismissal," Edy said. He mentioned Fatommy Asaari, head of the Golkar faction on the council, who was appointed by the governor on Aug.

Police advocate militia chiefs appointment

Police advocate militia chiefs appointment DILI, East Timor (JP): East Timor Police chief Col. G.M. Timbul Silaen defended on Wednesday the appointment of Eurico Guteres and Manuel Sousa, as leaders of civilian militia forces, locally known as Pam Swakarsa. "They will be in charge of maintaining security under the coordination of the Indonesian Police," he said.

PLN denies giving contract to PT Enico

PLN denies giving contract to PT Enico JAKARTA (JP): State electricity company PT Perusahaan Listrik Negara (PLN) insisted on Wednesday that it would not compensate a local service company for the losses caused by the breach of a coal waste cleaning contract almost a decade ago. PLN said in a statement that it was not responsible for the losses suffered by PT Enico National Development.

Language and politics

Language and politics I refer to the article Government abolishes anti-Chinese rules (The Jakarta Post, May 8, 1999), which states that President B.J. Habibie has issued an instruction to lift an almost three-decade ban on the use and teaching of Mandarin and the discriminative citizenship requirements for Chinese-Indonesians. It is of interest to me because I am interested in the study of linguistics.

Djajanti Group to build CPO refinery

Djajanti Group to build CPO refinery JAKARTA (JP): PT Varita Majutama, the plantation arm of Indonesian timber company Djajanti Group, announced on Wednesday it would build a US$7.5 million crude palm oil (CPO) processing plant to service its oil palm plantation in the Babo subdistrict of Irian Jaya. Company president Enap Surjatman said the plant would have the capacity to process 60 tons of fresh oil palm kernel per hour. "The plant is expected to begin operation in early 2002," he said.

KPU system held responsible for tardy vote count

KPU system held responsible for tardy vote count JAKARTA (JP): With no end in sight to the vote tally, telecommunications experts have blamed the system deployed by the General Elections Commission (KPU). A telecommunications expert from Yogyakarta's Gadjah Mada University, Roy Suryo, said the data processing system used by KPU was flawed.

Overhaul needed

Overhaul needed If there is one thing that has almost managed to divert the attention of Indonesians amid the strains and expectations in the wake of Monday's general election, it is the corruption charges which the Indonesian Corruption Watch (ICW) leveled against Attorney General Andi Muhammad Ghalib. Or, to be more precise, it is the official reaction from the government to the accusations.

Mayora protesters driven away

Mayora protesters driven away JAKARTA (JP): After a six-day-long demonstration in front of cookie producer PT Mayora's head office on Jl. Raya Tomang, West Jakarta, hundreds of laid-off workers were removed by police on Wednesday without resistance. Dozens of members of City Forum (Forkot), a student group which demonstrated in support of the workers, also were arrested and taken away in at least five police trucks. They were transported to city police headquarters at about 2:30 p.m.

Unocal funds water project

Unocal funds water project JAKARTA (JP): Geothermal power producer PT Unocal Geothermal Indonesia, a subsidiary of American energy company Unocal Corp. has built clean water facilities for the community living around its power plant in Salak, Sukabumi, West Java. A spokesman for state oil and gas company Pertamina, Ramli Djaafar, said the company had spent US$41,000 building the facilities.

Anwar bids to strike out case

Anwar bids to strike out case KUALA LUMPUR (Reuters): Jailed former finance minister Anwar Ibrahim said on Wednesday that government prosecutors had used questionable tactics to try to convict him, and urged a judge to throw out a sodomy case he faces. In an affidavit filed by his lawyers, Anwar said Malaysian government prosecutors had gone out of their way, after he was sacked in September, to put him behind bars, acting unprofessionally and showing bad faith.

RP to renegotiate air pacts

RP to renegotiate air pacts MANILA (DPA): The Philippines plans to renegotiate air agreements with four Asian countries to ensure that Philippine Airlines (PAL) will not face unfair competition amid efforts to revive the flag carrier's operations, officials said Wednesday. Foreign Assistant Secretary for Legal Affairs Franklin Ebdalin, also a member of the Civil Aeronuatics Board, said the new talks with Taiwan, South Korea, Hong Kong and Singapore are scheduled to start within the month.

Poll monitoring body records 19,504 violations

Poll monitoring body records 19,504 violations JAKARTA (JP): The Independent Election Monitoring Committee (KIPP) has discovered 19,504 violations during Monday's balloting across Indonesian provinces outside East Timor and Aceh, according to chairman Mulyana W. Kusumah on Wednesday.

Benchmark rate drops again

Benchmark rate drops again JAKARTA (JP): The benchmark interest rate on one-month Bank Indonesia promissory notes (SBI) fell to 23.48 percent at Wednesday's auction from 24.65 percent previously, the central bank announced. It noted the interest rate declined by 12.9 percent over the past two months. The central bank has allowed the interest rate to continue to decline on the back of improving macroeconomic conditions.