Indonesian Political, Business & Finance News

Archive: 10 July 1999

51 articles found

A change in focus of city development urged

A change in focus of city development urged JAKARTA (JP): The deputy head of the Land Transportation Agency, Dimmy Kirbrandiman, suggested on Friday the next administration consider developing the capital around railway stations. Dimmy said building the city around railway stations would make maximum use of trains and help ease traffic congestion. "Today, office complexes and apartments pack the city's main roads and thoroughfares.

Media coverage of South Sulawesi polls lacking

Media coverage of South Sulawesi polls lacking By A. Muis UJUNGPANDANG, South Sulawesi (JP): News coverage of the June 7 elections in South Sulawesi was undoubtedly of great significance in that it provided valuable information about the quality of the elections to ordinary people. In this reform era, to what extent was the general election specifically conducted in a free and fair manner in that region? To what extent was the local media coverage of the polls true, accurate, fair and balanced?

Parking firms told to cover damages

Parking firms told to cover damages JAKARTA (JP): The city administration and council have temporarily agreed to order all car parking operators in the capital to cover car losses or damages due to fire through an insurance scheme, a city councilor said on Friday. Head of Commission D for development affairs Ali Wongso Sinaga said the guidelines were described in the draft of a city bylaw on parking affairs, which was expected to be enacted in a plenary council session later this month.

Kaneko outclasses Suhendar

Kaneko outclasses Suhendar JAKARTA (JP): Second-seeded Hideki Kaneko of Japan was too strong for Indonesia's Suhendar Dinata, defeating the wild card entry in straight sets 6-2, 6-4 in the singles quarterfinals of the Men's Indonesian Fertilizer Future 4 here on Friday. Suhendar's defeat means no Indonesian player will be contesting the singles semifinal of the US$15,000 (Rp 100 million) tournament.

Corp governance plan for RI

Corp governance plan for RI SYDNEY (Dow Jones): The Australian Securities & Investments Commission Friday signed an agreement with Edith Cowan University and accounting firm PricewaterhouseCoopers to develop and deliver corporate governance programs to regulatory and government officials in Indonesia, Vietnam and the Philippines.

Villagers demand return of land

Villagers demand return of land YOGYAKARTA: Dozens of residents in Kranggan hamlet in Kulonprogo, 20 kilometers west of here, took over on Thursday two hectares of land that has been occupied by the local military for more than three decades, claiming the land had belonged to their ancestors. Led by hamlet chief Supardi, the villagers erected a wooden plank inscribed with a notice telling people not to make use of the plot.

Government amends GDP growth forecast to 2 percent

Government amends GDP growth forecast to 2 percent JAKARTA (JP): The government is revising its economic growth forecast for the 1999/2000 fiscal year to 2 percent from an earlier flat projection amid convincing signs of economic recovery, according to a senior government official at the Ministry of Finance. The official, who declined to be named, said the more bullish estimate was based on the fact that many economic indicators were now looking good.

PPD management agrees to 120-percent salary hike

PPD management agrees to 120-percent salary hike JAKARTA (JP): The board of directors at the state-owned Perum PPD bus company has agreed to meet workers' demands for a 120- percent wage hike, which will be implemented in stages over a six-month period starting with July salaries. The decision was stated in a letter signed by five top PPD executives on Tuesday, the day the thousands of workers ended their two-day strike.

Osprey's debts rescheduled

Osprey's debts rescheduled SINGAPORE (Bloomberg): Osprey Maritime Ltd., a Singapore-based shipping company with ties to the family of former Indonesian president Soeharto, said its creditor banks agreed to roll over US$370 million in debt for at least three months. The debt was due to mature on July 20, and the ability to delay its repayment buys time for the loss-making operator of oil tankers, letting it use its resources to secure new contracts, generate more sales and return to profit.

China vows to defer action on PNG until next govt formed

China vows to defer action on PNG until next govt formed PORT MORESBY (AP): China will wait to see the makeup of the next Papua New Guinea government before deciding whether to take action against the South Pacific nation for its controversial recognition of Taiwan, Chinese ambassador Zhang Pengxiang said on Friday. The Papua New Guinea parliament will elect a new prime minister soon after it resumes meeting on July 13, following the resignation of Prime Minister Bill Skate on Thursday.

Wiranto promises military not to protect Ghalib

Wiranto promises military not to protect Ghalib JAKARTA (JP): Confusion reigned on Friday over the legal status of former president Soeharto's chief investigator, Lt. Gen. Andi M. Ghalib, who stepped aside from the post of attorney general following allegations he had amassed Rp 13 billion through bribery and corruption. Following Military Police Commander Maj. Gen.

Tourism and mining vital for the Banten region

Tourism and mining vital for the Banten region JAKARTA (JP): When people talk about Banten, they usually associate it with jawara (martial art master), debus (ritual display of invulnerability) or black magic. Dressed in black, with a dagger on his back, the Banten jawara has become the region's trademark. H. Samiri, one of Banten's community leaders, said such perceptions are misleading. Jawara or debus practitioners are only a small part of the region's cultural riches.

Bank Lippo donates back-to-school packages

Bank Lippo donates back-to-school packages TANGERANG (JP): Publicly listed Bank Lippo handed over 8,500 book packages and other school supplies to students at 19 state elementary schools located around Lippo Karawaci business and shopping complex in Curug on Friday. One of the bank's directors, Harry Sasongko, said the "social activities" were conducted by the bank and other companies, which run their businesses from the Lippo Karawaci complex, under the umbrella of the Lippo Group.

CGI to meet on US$5b loan for Indonesia

CGI to meet on US$5b loan for Indonesia JAKARTA (JP): Indonesia's major donors pooled under the Consultative Group on Indonesia (CGI) are set to provide the country with US$5 billion in loans at the upcoming donors meeting, according to a senior government official.

Death toll hits four in South Sulawesi landslide

Death toll hits four in South Sulawesi landslide SINJAI, South Sulawesi (JP): The death toll rose to four from the landslide on early Wednesday in Pattiro hamlet in West Sinjai district after locals and rescue workers found two more bodies on Thursday and Friday. The bodies were of Nija, 42, and his wife Pole, relief workers said. They added Nija's body was found near the Tangka river, some three kilometers away from the hamlet on Thursday afternoon, and Pole's body was found on Friday morning.

Conversion Rates

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

Hanoi to write off bad debts

Hanoi to write off bad debts HANOI (DPA): Vietnam has instructed its treasury to write off or extend the debts of ailing state-owned enterprises (SOEs) targeted for privatization, officials said Friday. Minister of Planning and Investment Tran Xuan Gia said "irretrievable" SOE debts to the state would be written off as a means of speeding up the struggling privatization process ahead of the expected year-end opening of the country's first stock market.

Deputy PM Lee says he can do top job

Deputy PM Lee says he can do top job SINGAPORE (Reuters): Singapore's Deputy Prime Minister Lee Hsien Loong said he was prepared to take office as prime minister if he had the support of the electorate but was not about to launch a leadership challenge. Lee, whose father Lee Kuan Yew was prime minister for 31 years until 1990, praised current Prime Minister Goh Chok Tong and said they were working close together rather than jostling for position ahead of the next general election, due by 2002.

Asian central banks agree to reforms

Asian central banks agree to reforms HONG KONG (Reuters): Asia's central bankers on Friday agreed on the need to pursue appropriate macroeconomic policies and continue reform, and welcomed global efforts to strengthen the international financial system. But the 11 member economies of the Executives' Meeting of East Asia-Pacific Central Banks (EMEAP) came away from a one-day conference without any concrete proposals on ways to shore up international financial markets to help avert future turmoil.

KPU at center of storm as allegations rain down

KPU at center of storm as allegations rain down JAKARTA (JP): With students starting to question the credibility of the General Election Commission (KPU) in the wake of a tide of accusations, foreign observers are increasingly concerned about repercussions from any further delay in the announcement of the June 7 election results. About 50 students of Walisongo Institute of Islamic Studies in Semarang, Central Java, staged a demonstration on Friday outside the provincial legislative council.

More poll officials stream into East Timor

More poll officials stream into East Timor DILI, East Timor (JP): A group of 60 international poll officials arrived on Friday, bringing their number to 306 for the August vote. Another 76 will arrive on Saturday, with the rest to arrive in batches until the sending of international assignees from 24 countries is completed early next week, United Nations Mission in East Timor (UNAMET) spokesman Yasuhiro Ueki told a media conference here.

Property market recovery mixed

Property market recovery mixed SINGAPORE (Dow Jones): Property markets in Singapore, Hong Kong, Japan and the Philippines are poised for recovery, but prospects for China, Malaysia, Thailand and Indonesia aren't as bright, a director of Colliers Jardine Pte. Ltd. said Friday. David Young, a director for the real estate consultant, told a property seminar in Singapore overall recovery of the regional property market will be modest and less speculative.

Pertamina's $6.1b 'graft' stuns Kuntoro

Pertamina's $6.1b 'graft' stuns Kuntoro JAKARTA (JP): Minister of Mines and Energy Kuntoro Mangkusubroto said on Friday he was dismayed by independent auditors' findings that state-owned oil company Pertamina lost US$6.1 billion in the past two years due to rampant corruption and gross inefficiency. "I was painfully surprised to learn of the auditors' findings.

Megawati and the top job

Megawati and the top job To my disbelief, Mrs. Van der Zee (The Jakarta Post, June 25) replied to my letter of June 2, in which I argued that Mrs. Megawati Soekarnoputri would be prudent to avoid accepting the presidency. Mrs. Van der Zee presented Megawati as "eating politics for breakfast". That was a worse interpretation of reality than Alice in Wonderland.

Debt talks may ensnare Eurobonds

Debt talks may ensnare Eurobonds HONG KONG (Dow Jones): Holders of Indonesian Eurobonds may soon find themselves caught up in a new round of debt talks between Indonesia and Paris Club creditors, analysts say. Indonesian government officials this week said they may ask Paris Club creditors to reschedule about US$2.6 billion to $2.7 billion in sovereign debts maturing between April 2000 and March 2001.

Mobil starts supplying gas

Mobil starts supplying gas JAKARTA (JP): Mobil Exploration Indonesia State Inc., a unit of the American oil and gas company Mobil Corporation, has started providing feed gas to the liquefied natural gas producer PT Arun NGL Co. in Arun, North Aceh, from an offshore gas field in northern Sumatra, state oil and gas company Pertamina said on Friday.

Malaria plagues Jayapura, Cilacap

Malaria plagues Jayapura, Cilacap JAKARTA (JP): At least 1,300 people in the Irian Jaya capital of Jayapura and Cilacap in Central Java have been affected by malaria. Antara reported that Sarmi district in Irian Jaya was the hardest-hit area, where some 1,100 residents were found on Thursday to be in critical conditions by the Navy medical team now on a civic mission in the province. Hundreds of others were suffering from skin diseases or tuberculosis. The team, led by Lt.

Millennium art festival provides exotic choices

Millennium art festival provides exotic choices JAKARTA (JP): Various activities -- ranging from theatrical performance, contemporary wayang shows, traditional dance, pantomime, pop music, jazz and classical music -- will entertain art lovers at the Exotic Millennium Art Festival this month. Scheduled to be held from July 15 to July 17, the art festival is part of the sixth Religious and Moral Teachings meeting at Megamendung village in Bogor, West Java, from July 13 to July 18.

Stock Exchange

Stock Exchange Stock prices on the Jakarta Stock Exchange (in rupiah) on July 9, 1999: Shares Close Change Trading Volume ---------------------------------------------------------- Ades Alfindo 475 0 90,000 AHAP Insurance 525 0 0 Alakasa Industrindo 325 0 0 Alter Abadi 400 0 0 Alumindo Light Metal 1,000 -25 20,000 Aneka Kimia Raya 575 0 0 Aneka Tambang (Persero) 1,425 -25 502,500 Anwar Sierad 350 0 82,500 APAC Centertex Corp.

Golkar chapters support Habibie's candidacy: Akbar

Golkar chapters support Habibie's candidacy: Akbar JAKARTA (JP): The ruling Golkar Party has reiterated its presidential nomination of President B.J. Habibie for the next General Session of the People's Consultative Assembly (MPR) despite mounting opposition to the incumbent. Golkar chairman Akbar Tandjung said after the party's meeting on Friday that all provincial Golkar chapters in 27 provinces unanimously supported Habibie's nomination for the presidency in the next MPR General Session.

Urban poor hardest hit by crisis: BPS

Urban poor hardest hit by crisis: BPS JAKARTA (JP): The country's urban poor, the group which has been hardest hit by the economic crisis, increased by 114 percent from 1996 to the end of 1998, the head of the official statistics body said. Sugito Suwito of the Central Bureau of Statistics (BPS) announced on Friday that between February 1996 and December last year, the urban poor rose to 10.4 million.

Crash relatives upset by inquiry

Crash relatives upset by inquiry SINGAPORE (DPA): Relatives of victims of the 1997 SilkAir crash want the Singapore government to open its own investigation into the crash, and expressed frustration on Friday that the probe was going so slowly. The lack of information about the cause of the crash of the freshly serviced 10-month-old Boeing 737 near Palembang, Indonesia, was causing "much anxiety and bitterness", the relatives statement said.

More bickering erupts among poll organizers

More bickering erupts among poll organizers JAKARTA (JP): More quarreling took place among poll organizers on Friday when chairman of the National Elections Committee (PPI), Jacob Tobing, challenged a statement from Rudini, the chairman of the General Elections Commission (KPU), that the former sent wrong instructions to provincial and local poll committees. The reportedly wrong instructions, among other things, have been blamed for delays in vote counting and the announcement of its results.

European gamelan orchestra receives accolade in Yogya

European gamelan orchestra receives accolade in Yogya By Asip A. Hasani YOGYAKARTA (JP): "You may say it is a translation of the traditional Javanese or Balinese gamelan orchestra into a western way of thinking, although we still respect the traditional gamelan very much," said Roderik de Man, a composer for the Dutch contemporary music group Ensemble Gending.

Banten abounds in archeological treasures

Banten abounds in archeological treasures By Rita A. Widiadana JAKARTA (JP): Once a glittering sultanate and bustling seaport, the past glory of Banten on the northwest coast of Java is now fading. Banten, once the center of the Pakuan Padjadjaran Hindu kingdom and one of the most powerful Islamic sultanates in Java, was a major gateway to the island of Java between the 16th and 17th century. Business in Banten at this time thrived.

Premature euphoria

Premature euphoria Economic ministers have of late been congratulating themselves on the remarkable signs of economic improvement over the last two months, especially after the peaceful parliamentary elections in early June. Given the presidential election in November, the timing of the bullish indicators couldn't be better for supporters of President B.J. Habibie, who are already campaigning for his second tenure.

Ship sinks off Philippines

Ship sinks off Philippines MANILA (AFP): A Panamanian-registered cargo vessel sank off the northern coast Philippines but all 22 Taiwanese and Indonesian crewmen aboard were rescued by a passing ship, the coast guard said on Friday. The Excelsior Glory, bound for Taiwan from Indonesia with a cargo of coal, hit an unidentified object which tore a hole in its hull right under the engine room, the coast guard said. The vessel sent out a distress signal at about 6:45 a.m. (5:45 a.m.

RI team members get $45 stipend

RI team members get $45 stipend JAKARTA (JP): Athletes and sport officials taking part in the 20th Southeast Asian (SEA) Games next month will receive US$45 (Rp 301,500) each per day for personal expenses during their 12 days in Brunei Darussalam, an official of the National Sports Council (KONI) said on Friday. Sudharno, deputy chief of KONI's planning and budget division, said the allowance consisted of $25 for spending money and $20 to cover meals and accommodation.

Police seize biggest ganja haul of the year

Police seize biggest ganja haul of the year JAKARTA (JP): Police arrested a university student from Aceh province and seized 245 kilograms of marijuana -- the biggest haul this year -- in his possession on Thursday. The suspect was identified as Donny Wardana Waris, 29, a resident of Saumeru subdistrict, Sukamakmur district in Aceh Besar, Jakarta Police detective chief Col. Alex Bambang Riatmodjo said. Alex said two other suspects escaped.

Discrimination against Chinese

Discrimination against Chinese When returning to Indonesia from abroad, I was asked to fill out a customs declaration form. Questions number 11 to 15 needed to be answered with a "yes" or "no". One particular question struck me as odd, i.e. question number 14. The question asked me if I was carrying narcotics, fire arms, ammunition, lasers, explosives, pornography, Chinese printing, Chinese medicines, transceivers or cordless telephones.

Toll road crash yields mystery

Toll road crash yields mystery JAKARTA (JP): Police are investigating two men found in possession of three pistols and 100 bullets after a serious traffic accident on the Jakarta-Cikampek toll road on Friday morning. City police detectives chief Alex Bambang Riatmodjo said the men were admitted to the National Police Hospital in Kramat Jati, East Jakarta. "Both men are still unconscious," Alex told The Jakarta Post late Friday. "They are in very bad shape, and one has his entire head bandaged.

Will Skate's resignation put end to PNG crisis

Will Skate's resignation put end to PNG crisis By Paul Tait SYDNEY (Reuters): Taiwan's newest friend in the community of nations could be about to turn its back after Bill Skate's resignation as prime minister of Papua New Guinea. But analysts warn that it's still too early to write off either Skate -- or the controversial deal he engineered with Taipei to rescue his South Pacific nation from economic crisis.

Reports surface of recent rapes in Aceh

Reports surface of recent rapes in Aceh JAKARTA (JP): A human rights group said on Friday it had received reports that security personnel had raped a number of women during the recent anti-separatist operations in Aceh. "At least seven women between 16 and 30 years of age were raped in North Aceh in the last three weeks," Munir of the Commission for Missing Persons and Victims of Violence (Kontras) told a media conference.

A not too pleasant surprise

A not too pleasant surprise When I read the article Government steps up anticorruption campaign on the front page of the July 7 edition, my reaction could not be described as anything but surprise, happiness and pride that at last the government was going in the right direction. The government has uncovered 3,025 cases of corruption that cost the state Rp 7.21 trillion in losses.

Taufik named in SEA Games squad

Taufik named in SEA Games squad JAKARTA (JP): World ranked number 11 badminton player, Taufik Hidayat, finally joins the national squad for the 20th Southeast Asian Games in Brunei next month, despite an objection that he is lacking preparation.

Where to go in Jakarta:

Where to go in Jakarta: Exhibitions * Art Exhibition by Cak Kandar, at Hotel Ciputra Jakarta, Jl. Let. Jend. S. Parman, West Jakarta (Phone: 5660640), 8 a.m. to 10 p.m., until Aug. 22. * Photo Exhibition: Karnaval, at Galeri Lontar, Komunitas Utan Kayu, Jl. Utan Kayu 68 H, East Jakarta (Phone: 8573388), 10 a.m. to 5 p.m., until July 20. * Photo Exhibition: Panggung dan Potret, by photographers of the Galeri Foto Jurnalistik Antara, at CCF - French Cultural Center, Jl.

Writing needs more recognition

Writing needs more recognition By A. Chaedar Alwasilah BANDUNG (JP): The language skill often reported as most wanted by our students from elementary to graduate school is writing. Compared to other skills -- listening, speaking and reading -- writing is perceived as the most difficult to acquire for some reason. Naturally, writing is acquired later than speaking.

Tour agents bark at fare hike

Tour agents bark at fare hike YOGYAKARTA (JP): Travel agents said on Friday a planned increase in the admission fees at the tourist attractions Borobudur, Prambanan and Ratu Boko temples in Yogyakarta and Central Java would hurt the local tourism industry. The chairman of the Indonesian Tour and Travel Agency's (ASITA) Yogyakarta branch, Bagus Ardhi Barliantoro, said the increase in the fares from Rp 10,000 (about US$1.30) to Rp 40,000 would discourage tourists from visiting the city.

SilkAir suspends Singapore-Jakarta route

SilkAir suspends Singapore-Jakarta route JAKARTA (JP): SilkAir announced on Friday it would suspend its 12-time weekly scheduled services linking Singapore to Jakarta starting July 26 due to a decline in passengers. SilkAir's General Manager Mak Swee Wah said the decision was made following the airline's network review conducted in light of the economic crisis in the region.

Shaman's drink fells family

Shaman's drink fells family JAKARTA (JP): Eleven family members were rushed to the Jakarta Islamic General Hospital in Central Jakarta early Friday after consuming a beverage from a man claiming to be a shaman. The family, including two child models from a popular noodle advertisement, complained of severe headaches. They remained hospitalized on Friday evening. The shaman, identified as Sugiarto bin Sanjaya of Subang, West Java, was arrested shortly after the incident by the police.

Bulog set to resume rice imports soon

Bulog set to resume rice imports soon JAKARTA (JP): The State Logistics Agency (Bulog) said on Friday it would soon resume importing rice in anticipation of declining domestic supplies in the coming months. Chairman of the agency's foreign procurement department Mohamad Ismet said his office would open the tender for the rice imports later this month. He declined to disclose the quantity of rice in the tendering process.