Indonesian Political, Business & Finance News

Archive: 17 June 1999

43 articles found

Parties threaten to reject polls as counting deadline nears

Parties threaten to reject polls as counting deadline nears JAKARTA (JP): Political parties alleging vote-rigging in the provinces intensified their threats to reject the elections, only four days away from the deadline for national ballot counting. The latest threat came from an alliance of 30 minor parties in East Java, 25 parties in Central Java and 25 parties in North Sumatra.

PSSI waiting for European tour

PSSI waiting for European tour JAKARTA (JP): The All Indonesian Soccer Federation (PSSI) is awaiting confirmation from UFA, a European agency, over the planned friendly matches with national teams from Estonia, Latvia and Finland, PSSI secretary-general Nugraha Besoes said on Wednesday. Nugraha said UFA would inform PSSI on the preparedness of the national teams on Thursday.

Lippo Group restructures half of its $200m debt

Lippo Group restructures half of its $200m debt JAKARTA (JP): The widely diversified Lippo Group announced on Wednesday the successful restructuring of about 50 percent of its US$200 million debt through converting debts to equity and swapping debts with assets. Group deputy chairman James Riady said the group began restructuring its debts 20 months ago. "We use debt-to-asset conversions, debt-to-asset swap and debt-buy-back option to restructure our debts," he said.

European Commission to sue Belgium over dioxin scare

European Commission to sue Belgium over dioxin scare SINGAPORE (Reuters): Supermarket shelves around Asia were largely bare of many European foods on Wednesday as the European Commission prepared to launch legal proceedings against Belgium over the dioxin health scare. Indonesia and Myanmar this week joined their neighbors in the region in banning meat, poultry and dairy imports from several European countries.

Politics must not interfere BI

Politics must not interfere BI Perhaps Mr. Kwik Kian Gie's Will Indonesia adopt a fixed-rate system? (June 16, 1999), would do well to consult the Internet web page of Bank Indonesia. There he will find information regarding the recently adopted banking acts and laws, and in particular discussion of act 23/1999 concerning BI's independence. He may be surprised to learn that Bank Indonesia now has sole responsibility for the value of the rupiah and implementation of monetary policy.

Parties need conditional accord

Parties need conditional accord The following is the second of two articles on Indonesian post-election politics written by Yulius P. Hermawan, a lecturer on international relations at Parahyangan Catholic University and a researcher at the Parahyangan Center for International Studies in Bandung, West Java. He is a graduate of the Department of Politics, Monash University, Australia.

Goro land deal illegal: Witnesses

Goro land deal illegal: Witnesses JAKARTA (JP): Four witnesses testified in the Goro land case on Wednesday that they were unaware of the facts of an exchange for a 71-hectare plot of land in Marunda, Cilincing district, North Jakarta. The witnesses at the South Jakarta District Court were Rahman Saputro, former head of Marunda subdistrict; Subagyo, North Jakarta mayor; Ali Usman Cilincing district head, and Chairul, an official of the National Land Agency.

Scholarships for poor students

Scholarships for poor students JAKARTA (JP): Cookie producer PT Nabisco Foods, in cooperation with the Jakarta chapter of the Islamic Alms Organization (Bazis), gave scholarships on Wednesday worth about Rp 120 million to 1,000 elementary students of poor families in the capital. The money was symbolically presented by representatives of Nabisco and Bazis to students of state elementary school SDN No. 1 in Kampung Melayu, East Jakarta.

Asian currencies stagnant, rupiah comes down from high

Asian currencies stagnant, rupiah comes down from high HONG KONG (Dow Jones): Asian currencies barely moved on Wednesday, as trading in regional markets all but ground to a halt ahead of the release later in the day of U.S. inflation figures. Taking their cue from the major foreign exchange markets, dealers shied away from taking positions in the regional currencies, lest they be caught wrong-footed by any surprises in the U.S. data.

MAMI funds net big gain

MAMI funds net big gain JAKARTA (JP): Equity-based mutual funds issued by PT Manulife Aset Manajemen Indonesia (MAMI) booked a yield of 76.7 percent in 10 months, owing to the consistent upward index movement of the Jakarta Stock Exchange, an executive of the company said.

Sandjaja declared bankrupt

Sandjaja declared bankrupt JAKARTA (JP): The Jakarta Commercial Court has issued a bankruptcy verdict on ceramic maker PT Sandjaja Graha Sarana for failure to pay a debt amounting to US$1.92 million. The plaintiff's lawyer said Tuesday the company's owner, Tjokro Sandjaja, who served as guarantor of the debt, was also declared bankrupt by the court. Rahmat Bastian of Dermawan & Co.

Mahathir maintains firm grip in UMNO

Mahathir maintains firm grip in UMNO By M. Jegathesan KUALA LUMPUR (AFP): Despite advancing years and the sacking of his former deputy Anwar Ibrahim, Malaysian Premier Mahathir Mohamad continues to have a firm grip on power in his United Malays National Organization (UMNO) party, according to senior party members. Aided by the surprise recovery in the economy, members of the dominant ruling UMNO stressed there was no faltering of support for the 73-year-old Mahathir.

Conversion Rates

Conversion Rates Bank Bali's conversion rates on June 16, 1999: TT rates Bank notes rates Buying Selling Buying Selling Rp Rp Rp Rp U.S.

Migrant workers still at home

Migrant workers still at home SALATIGA, Central Java: Three of 36 prospective migrant workers from Madiun have reported their labor export firm to the police because they have been waiting to take up employment since last August, Antara reported on Wednesday. "The women paid Rp 3.2 million per person, while the men have paid Rp 6.5 million per person," Haryanto, one of the workers, said. They said the company was based in Suruh in Semarang.

IBRA fights bankcruptcy claim against Tirtamas Group

IBRA fights bankcruptcy claim against Tirtamas Group JAKARTA (JP): Indonesian Bank Restructuring Agency (IBRA) blocked an attempt by the Harawi Group -- the former majority shareholder of the now defunct Bank Papan Sejahtera -- to have the Tirtamas Group declared bankrupt. Harawi Group's lawyer Lucas S. Halim from Lucas S.H.

Sex, lies and not elected

Sex, lies and not elected JAKARTA (JP): Indonesians have yet to recover from election fever but the politicians' lies are already beginning to stink, at least in Bengkulu. A 22-year-old woman from Padang Ulak Tanding district has filed a complaint with the police against two politicians failing to honor their promise to make her a legislator in exchange for sex.

18 prostitutes caught during raid near Monas

18 prostitutes caught during raid near Monas JAKARTA (JP): Eighteen prostitutes were rounded up on Tuesday night at the Medan Merdeka Square, Central Jakarta, in a joint raid by officers of the city's public order office, social service agency and the police, an official said.

East Timor: Will the United Nations make another blunder?

East Timor: Will the United Nations make another blunder? By George J. Aditjondro This is the first of two articles on the role of the United Nations in the upcoming direct ballot in East Timor. NEWCASTLE, Australia (JP): Will the United Nations seriously defend the right of the East Timorese to self-determination in the forthcoming direct ballot in the occupied territory?

NGO activists arrested with protesting workers

NGO activists arrested with protesting workers JAKARTA (JP): City police apprehended over 500 people, most of whom claimed to be workers of the publicly listed candy and biscuit producer PT Mayora Indah, along with at least four NGO activists during a protest early Wednesday morning. Staged in front of the Capital Market Supervisory Agency (Bapepam) office in Central Jakarta, the activists were forced into police trucks.

Ghalib's deputy proposed to caretaker role

Ghalib's deputy proposed to caretaker role JAKARTA (JP): Deputy Attorney General Ismudjoko has been proposed to fill the caretaker role of attorney general, Minister of Justice Muladi said on Wednesday. After a meeting with Habibie at Bina Graha presidential office in the evening, Muladi said he had summoned Ismudjoko to his office and proposed he take over as caretaker attorney general. "Basically, there will be a change at the Attorney General's Office," Muladi said, refusing to elaborate.

Ballot papers 'held hostage'

Ballot papers 'held hostage' PAREPARE, South Sulawesi: Regional poll committee officials in Parepare have not completed their report on results because ballot papers in Soreang district are being held by disgruntled workers, Antara reported Wednesday. The news agency reported the holding of about 20,000 ballot papers from 63 polling stations in the district's seven subdistricts was because promised honorariums were not paid by the committee treasurer.

40% of debtors face liquidation: IBRA

40% of debtors face liquidation: IBRA JAKARTA (JP): Deputy chairman of the Indonesian Bank Restructuring Agency (IBRA) Eko S. Budianto said on Wednesday that only about 60 percent of its 1,689 debtors could be restructured in a bid to recover their debts. "Only 60 percent are eligible for restructuring. We have to be realistic because there are businesses which have no prospects at all, and some have too much debt," he said.

PDAM Jaya labor union members questioned

PDAM Jaya labor union members questioned JAKARTA (JP): At least 18 members of the labor union at city- owned water company PDAM Jaya were questioned by city inspectorate officials on Wednesday for their alleged involvement in a series of protests against the company in April, an official said.

Part of the elite thinks policy on East Timor a mistake

Part of the elite thinks policy on East Timor a mistake By Klomjit Chandrapanya Aug. 8 1999 will see East Timorese vote on whether to accept a proposed special autonomy status for East Timor or reject it, leading to East Timor's separation from Indonesia. Whatever it is officially called, Prof. Roger S.

Prominent politicians unsure of House seat

Prominent politicians unsure of House seat JAKARTA (JP): As well as keeping voters in suspense, the snail's pace of the General Elections Commission's (KPU) vote count has also kept many big name politicians waiting to see if they will get a seat in the House of Representatives (DPR). But with the tallying already past the halfway mark, some prominent politicians whose parties have not reached the 1 percent benchmark have had to bury their dreams of qualifying for the House.

Relatives set out to check on 'Hendra'

Relatives set out to check on 'Hendra' JAKARTA (JP): Relatives of Hendra Rahardja will leave Hong Kong for Australia this weekend to verify whether a man detained in a Sydney jail is their relative, a source close to the family said on Wednesday.

15 Indonesian firms to join trade expo in Darwin

15 Indonesian firms to join trade expo in Darwin JAKARTA (JP): Fifteen local companies will take part in next month's Northern Territory Expo in Darwin, Australia, according to the National Agency for Export Development (NAFED). NAFED chief Gusmardi Bustami said on Tuesday the companies' participation was important to boost Indonesia's exports to its neighbor. "The economic crisis has affected the country's exports of particular commodities to Australia," he said.

Cycling body seeks sponsors for equipment and training

Cycling body seeks sponsors for equipment and training JAKARTA (JP): The Indonesian Cycling Association (ISSI) is seeking sponsors to help its cyclists obtain sports equipment and finance trips to overseas events. ISSI's deputy secretary-general Sofyan Ruziat said on Wednesday that donors were badly needed because the association was short of funds, particularly to prepare the cyclists for the 20th Southeast Asia (SEA) Games in Brunei in August.

TNI stance raises Megawati hopes

TNI stance raises Megawati hopes JAKARTA (JP): The military has said it does not discriminate between men and women for the presidency, fueling the hopes of Indonesian Democratic Party of Struggle (PDI Perjuangan) supporters for their president-elect, Megawati Soekarnoputri. On Wednesday, high-ranking Indonesian Military (TNI) officers followed-up the support earlier made by Minister of Defense and Security/TNI Commander Gen. Wiranto.

Freeport denies output delay

Freeport denies output delay JAKARTA (JP): Copper and gold mining company PT Freeport Indonesia denied on Wednesday that it was delaying its plan to increase ore output to 300,000 tons per day (tpd) because of a slump in metal prices.

Court rejects Baramuli slander lawsuit

Court rejects Baramuli slander lawsuit JAKARTA (JP): The Central Jakarta District Court on Wednesday rejected a lawsuit filed by former Army general Kemal Idris and former city governor Ali Sadikin against Supreme Advisory Council chairman A.A. Baramuli for slander. The court also rejected a lawsuit filed by Baramuli against Ali and Kemal for defamation. In defending his decision, presiding judge Poerwanto said: "Slander or defamation should first be decided by a criminal court.

Climbers prepare for world meet

Climbers prepare for world meet JAKARTA (JP): The Indonesian Climbing Federation (FPTI) will send four national climbers to compete in the climbing world championship in San Francisco, California. FPTI chairman Maj. Gen. Sjahrir M.S. said on Wednesday the team comprised senior climbers Yuyun Yuniar, Ronald Novar Marimbing, Eta Hendrawati and their junior, Nurrahman Rosyid would leave Indonesia on June 21.

Internet firm goes public

Internet firm goes public SINGAPORE (Dow Jones): Singapore electronic-commerce services company i-One.Net Ltd. issued 160.2 million new shares Wednesday at 38 Singapore cents (US$1=S$1.7107) in its initial public offering. The company's offer comprises 124.5 million placement shares for institutional investors, including up to 13.2 million shares reserved for employees and business associates, and 35.6 million shares for retail investors.

Union irked by Korpri statement

Union irked by Korpri statement JAKARTA: The Indonesian Prosperous Labor Union (SBSI) has denounced the statement of the chairman of the civil servants' organization (Korpri) that members who quit Korpri would no longer be in public service. In a statement made available to The Jakarta Post on Tuesday, SBSI chief Muchtar Pakpahan said the chairman, Feisal Tamin, clearly showed a lack of understanding of international conventions on freedom of association.

City residents in guessing game on representatives

City residents in guessing game on representatives JAKARTA (JP): While waiting for the final results of the current vote count, most Jakartans are still guessing who will represent them in the House of Representatives. As with many other cities, the preliminary computerized vote tally released by the General Elections Commission (KPU) shows that the Indonesian Democratic Party of Struggle (PDI Perjuangan) has garnered the most votes.

Indonesia won't issue visa for Horta: Alatas

Indonesia won't issue visa for Horta: Alatas JAKARTA (JP): Indonesia will not issue a visa for self-exiled East Timor independence leader Jose Ramos-Horta, who planned to visit and campaign in the troubled territory ahead of the direct ballot on Aug. 8, Minister of Foreign Affairs Ali Alatas said on Wednesday.

Vital economic signs

Vital economic signs It is too premature to link the highly positive vote of the financial market immediately after the June 7 elections -- reflected in the rise of the Jakarta Stock Exchange index and the rupiah exchange rate to new highs in the past eight days -- to the likelihood of which party will take over the government later this year.

Stock Exchange

Stock Exchange Stock prices on the Jakarta Stock Exchange (in rupiah) on June 16, 1999: Shares Close Change Trading Volume ----------------------------------------------------------- Ades Alfindo 575 0 47,500 AHAP Insurance 525 0 0 Alakasa Industrindo 375 -25 29,000 Alter Abadi 400 -25 227,500 Alumindo Light Metal 1,200 0 0 Aneka Kimia Raya 525 -25 91,500 Aneka Tambang (Persero) 1,650 -25 5,694,000 Anwar Sierad 400 0 30,000 APAC Centertex Corp.

Moral legitimacy in Indonesian politics

Moral legitimacy in Indonesian politics Kisah Karna dan Dendam Kita: Membusuknya Moralitas Sosial Politik Indonesia (The Karna Saga and Our Resentment: The Decaying Indonesian Sociopolitical Life); Mohamad Sobary; Gramedia Pustaka Utama, Jakarta, 1999; vi + 251 pp. JAKARTA (JP): The book is an anthology of Mohamad Sobary's opinions published in the mass media between 1992 and 1995. It consists of 51 articles which reflect the writer's views on realities from that period.

Police investigate recent Aceh violence

Police investigate recent Aceh violence JAKARTA (JP): The National Police said on Wednesday they were investigating the latest violence in the Aceh province, where five civilians, including two children, died. Antara quoted National Police chief Gen. Roesmanhadi as saying there were two versions of last week's incident in Peureulak, East Aceh. "What really happened is still under investigation," he said.

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., Jun. 17. * Photo Exhibition: By Elizabeth Carecchio, at the Gallery CCCL - French Cultural Center, 9 a.m. to 8 p.m., Jun. 25 to Jul. 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.

Where to go in Bali:

Where to go in Bali: Exhibitions * Arts Exhibition: Baskets of Bali and Australia, At New Seniwati Showspace, Jalan Raya Ubud, until Jun. 23. * 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 Jun. 30. * Painting Exhibition: by Kelompok Seni Rupa Jendela, at Padma Bali Hotel, on Jul. 30 to Aug. 17. Music and Entertainment * Hard Rock Hotel, Jl.

People want a new leader who cares

People want a new leader who cares By Lea Jellinek and Bambang Rustanto JAKARTA (JP): No political commentators expected Megawati Soekarnoputri of the Indonesian Democratic Party of Struggle (PDI Perjuangan) to gain so much support, but all those who work closely with the little people of Indonesia knew six months beforehand that Megawati had mass support.