Indonesian Political, Business & Finance News

Archive: 24 November 2000

57 articles found

Indofood drops plan to buy oil palm plantations

Indofood drops plan to buy oil palm plantations JAKARTA (JP): Publicly listed Indofood Sukses Makmur has dropped a plan to acquire several oil palm plantations under the control of the Indonesian Bank Restructuring Agency (IBRA). Indofood's president Eva Riyanti Hutapea said on Thursday that the company, which submitted a non-binding bid to IBRA on Oct. 16 and was shortlisted with six other bidders, would not join the final bid process.

BI launches new settlement system

BI launches new settlement system JAKARTA (JP): Bank Indonesia officially launched on Thursday the real-time gross settlement system (BI-RTGS) in a bid to modernize the country's noncash interbank payment system. Deputy governor Aulia Pohan said that with the new system, participating banks could now electronically process settlements for any individual transaction during the day. He said that banks under the previous system risked suffering clearing losses by the end of each day.

Stock Exchange

Stock Exchange Stock prices on the Jakarta Stock Exchange (in rupiah) on Nov. 23, 2000: Shares Close Change Trading Volume ------------------------------------------------------------ Ades Alfindo 2,450 -100 283,500 Adindo Foresta Indonesia 110 -5 5,000 Alakasa Industrindo 275 0 0 Alfa Retailindo 1,175 -50 9,446,000 Alter Abadi 165 0 0 Alumindo Light Metal 900 0 0 Aneka Kimia Raya 280 -20 12,500 Aneka Tambang (Persero) 1,000 0 444,000 Anwar Sierad 300 0 0 APAC Centertex Corp.

Pande acquitted of all charges in Bank Bali scam

Pande acquitted of all charges in Bank Bali scam JAKARTA (JP): The South Jakarta District Court acquitted on Thursday Pande Nasorahona Lubis, who had been charged with graft in connection with the Rp 546 billion (US$58 million) Bank Bali scandal. "None of the legal arguments in the prosecutors' indictment proved the defendant violated the law. "Therefore, the defendant must be freed from all charges and his dignity restored.

Legislators fail to submit proposal against Gus Dur

Legislators fail to submit proposal against Gus Dur JAKARTA (JP): Legislators failed to submit on Thursday a proposal for the House of Representatives (DPR) to issue a "right of expression" on President Abdurrahman Wahid's performance. "We'll submit the proposal on Nov. 30. Now, we're waiting for more signatories," legislator Alvin Lie from the National Mandate Party (PAN) told reporters after meeting Deputy House Speaker Soetardjo Soerjoguritno.

Six killed in sand quarry

Six killed in sand quarry BANDUNG: Six people were killed on Wednesday in a landslide in a sand quarry in Cileuleuy in Subang regency. Provincial administration secretary in Subang, Aris Sumarna, confirmed the accident, saying that the quarry was managed by H. Atang. The deceased were identified as Dirja, Rihman, Sehendar, Lili Kusnati, Engkos and Asid. Locals said the traditional mining site was vulnerable to collapse especially during or after rains and was no longer suitable.

Witness says Bob Hasan causes 'no state losses'

Witness says Bob Hasan causes 'no state losses' JAKARTA (JP): A witness implied at the Central Jakarta District Court on Thursday that the company of defendant Muhamad "Bob" Hasan had never taken photographs for a government-funded mapping project in 1996, but claimed that it caused no state losses.

Datacraft wins RI project

Datacraft wins RI project SINGAPORE (AFX-ASIA): Datacraft Asia Ltd said it has obtained a US$3.7 million contract from IPCO International Ltd to help the latter implement its internet protocol network project in Indonesia. In building the infrastructure, Datacraft said it will deploy a switching technology capable of delivering critical applications at guaranteed bandwidths and speeds of up to 100 times faster than conventional networks in Indonesia.

Ministry set to work on marine tourism mapping

Ministry set to work on marine tourism mapping JAKARTA (JP): The directorate of sea territory at the Ministry of Maritime and Fishery Affairs is set to work on marine tourism mapping as part of the preparations for regional autonomy in January. "We'll probably begin the project next year. All these years we have not had such a map and never been really aware of the real marine resources we have," Sea Territory Director Col. Aji Sularso told The Jakarta Post on Thursday.

Ramadhan closure terms disputed by owners

Ramadhan closure terms disputed by owners JAKARTA (JP): Immediately following pressure from Muslim groups and six City Council factions, the city administration announced on Thursday Governor Sutiyoso's expected notice of which nightspots should close during Ramadhan, Idul Fitri and Christmas. However, the nightspot owners said the policy was unclear.

Singapore to push ASEAN to engage with India: Officials

Singapore to push ASEAN to engage with India: Officials SINGAPORE (AFP): Singapore said on Thursday it is backing India to become a dialog partner of the Association of Southeast Asian Nations (ASEAN) but faced an uphill battle getting support. "The Indian President (K.R. Narayanan) requested this when he visited Singapore," a Singapore government spokesman told AFP.

PASI stages pole vault training

PASI stages pole vault training SURAKARTA, Central Java (JP): The Indonesian Amateur Athletics Association (PASI) Central Java chapter joined hands with the province's Ministry of National Education chapter to stage pole vaulting training. The training, which started on Monday and finishes Friday, is attended by 50 elementary and junior high school students, from 12 to 13 years of age. Twenty school teachers across the city are also participateing in the training at the Manahan Stadium here.

Blast suspect had fake ID: Police

Blast suspect had fake ID: Police JAKARTA (JP): Police are looking for a man who checked in at the Omni Batavia Hotel using a fake ID card about one hour before the blast occurred last Friday, city police chief Insp. Gen. Mulyono Sulaiman said. Mulyono said on Wednesday that Irawan, the name on the ID card, checked out shortly after signing the guest registry, saying that he suddenly changed his mind and planned to stay at the Ibis Hotel in Slipi.

Foreign investors put off by fears of power crisis

Foreign investors put off by fears of power crisis JAKARTA (JP): The possibility of a power crisis in Indonesia has added to the uncertainties in the country's investment climate, according to a senior official at the Asian Development Bank (ADB) on Thursday. ADB senior programs officer Shiladitya Chatterjee said foreign investors feared that the country could suffer an acute power shortage within the next three to four years.

'Wayang thengul' puppets survive as souvenirs in RI's major cities

'Wayang thengul' puppets survive as souvenirs in RI's major cities By R. Agus Bakti YOGYAKARTA (JP): The Wayang thengul (wooden puppet show) has every qualification to be listed as a Javanese "endangered" folk art, losing its audience to modern-day entertainment. It used to be a well-known traditional art like the wayang purwa (leather puppet show) but its popularity is waning and probably only a small number of the younger generation has a good understanding of it.

Headless corpse found on beach

Headless corpse found on beach PRAYA, West Nusa Tenggara: Residents of Central Lombok's Kuta beach (Loteng) were shocked earlier this week by a corpse which was found on the south end of the beach and had its head, most of its stomach, right leg, right hand and genitalia missing. "The finding of the corpse was a big shock for the Kuta beach residents.

Nokia launches new cell phone

Nokia launches new cell phone JAKARTA (JP): Nokia Mobile Phones launched on Thursday the Nokia 6210, targeting business executives. General manager for Mobile Phones Indonesia Shaun Colligan said the dual band mobile phone was supported by a High Speed Circuit Switched Data (HSCSD) of up to 43.2 kilobit per second for quicker data transmission.

Indonesia may air domestic problems at summit

Indonesia may air domestic problems at summit SINGAPORE (JP): President Abdurrahman Wahid said here on Thursday that Indonesia might bring up its mounting domestic problems during the annual ASEAN informal summit and called for "active support" of the regional grouping for the maintenance of country's territorial integrity. "We will not discuss the problems explicitly, but they will always be there and recognized in the background ...

Nine top officers named suspects

Nine top officers named suspects JAKARTA (JP): After a series of long investigations, police named nine high-ranking military and police officers on Thursday as suspects in the violent takeover of the Indonesian Democratic Party (PDI) headquarters in Central Jakarta in 1996. National Police spokesman Brig. Gen. Saleh Saaf said the suspects were top officers at the time, including former chief of the then Indonesian Armed Forces (ABRI) Sociopolitical Affairs Lt. Gen.

ASEAN welcomes China's overtures for free trade

ASEAN welcomes China's overtures for free trade SINGAPORE (AFP): Chinese overtures to be involved in a Southeast Asian free trade area received enthusiastic support on Thursday from ASEAN which fears money will be diverted from the group when Beijing joins the World Trade Organization. The framework for discussions is China has still to be determined, but it could focus on direct exchange of trade and services, competition in a third country and allocation of investments.

House to amend BI law on Dec. 6

House to amend BI law on Dec. 6 JAKARTA (JP): The House of Representatives vowed on Thursday to complete the amendment of the central bank law by Dec. 6, so as to allow an immediate reshuffle of the top management of Bank Indonesia. House deputy speaker Tosari Widjaja said that the government would propose an amendment bill to a plenary session of the legislature on Nov. 27.

Asian currencies mostly down, rupiah slightly firmer

Asian currencies mostly down, rupiah slightly firmer SINGAPORE (Dow Jones): Most Asian currencies sagged late Thursday, with the South Korean won extending its recent inexorable decline as the market grew immune to the central bank's hackneyed verbal mediation, dealers said. The New Taiwan dollar also lost some ground, falling for the ninth consecutive session to a fresh 19-month low.

Rupiah Rates Nov.23

Rupiah Rates Nov.23 Bank notes rates TT rates Buying Selling Buying Selling Rp Rp Rp Rp U.S.

Learn to live and let live

Learn to live and let live Recent articles in your paper have given me considerable pause for thought. Perhaps paradoxically, in this time of new openness in Indonesia, there seems to be evidence of a growing tide of intolerance that should perhaps worry people. People are increasingly being forced to accept the demands of unrepresentative religious extremists that may run contrary to their own cultural beliefs.

U.S. Dollar Rates Nov. 23

U.S. Dollar Rates Nov. 23 Current High Low Euro* 0.8429 0.8456 0.8427 Japanese Yen 110.15 110.23 110.06 British Pound* 1.4045 1.4088 1.402 Swiss Franc 1.8026 1.8041 1.7975 Austrian Schilling 16.3191 16.3249 16.2728 Belgian Franc 47.841 47.858 47.706 Danish Crown 8.8485 8.874 8.8226 Dutch Guilder 2.6132 2.6144 2.6061 Finnish Markka 7.0514 7.0539 7.0314 French Franc 7.7794 7.7821 7.7573 German Mark 2.3195 2.3204 2.3129 Greek Drachma 403.30 403.61 402.28 Irish Punt 1.0703 1.0737 1.0703 Italian...

Bali gets new management

Bali gets new management JAKARTA (JP): Shareholders of the publicly listed Bank Bali approved on Thursday the appointment of a new board of directors and commissioners for the period of 2000-2002. The Indonesian Bank Restructuring Agency (IBRA) said the management reshuffle followed the recent completion of the bank's recapitalization program, which lifted its capital adequacy ratio to 12.8 percent. Career banker Dradjat Bagus Prasetio was appointed as the bank's new president.

Downturn in Indonesian-U.S. relations?

Downturn in Indonesian-U.S. relations? The following is the first of two articles based on a presentation given at a discussion on ties between Indonesia and the U.S., by Prof. Dr. Hasjim Djalal, M.A.. He has been Ambassador-at-Large for the Law of the Sea/Maritime Affairs since 1994 and teaches international law and relations at Padjadjaran University, Bandung. The discussion was organized by the Golkar party on Nov. 1 in Jakarta. JAKARTA: Many Indonesians perceive that Indonesian-U.S.

ASEAN gives KL more time to cut car tariffs

ASEAN gives KL more time to cut car tariffs SINGAPORE (Reuters): Southeast Asian governments on Thursday gave Malaysia a two-year reprieve before it has to cut tariffs on its struggling car industry as part of a free-trade drive to sharpen the region's global competitiveness.

Newborn baby found in hospital toilet

Newborn baby found in hospital toilet JAKARTA (JP): Staffers at the Medical Rehabilitation Installation of the Cipto Mangunkusumo General Hospital were surprised to find a newborn baby alive in a third floor toilet on Thursday. The premature baby girl, weighing 1.3 kilograms, was rushed to the hospital's emergency room for intensive care. Hasanah, a staffer at the hospital, said she was using the toilet at about 11 a.m. when she heard the weak crying of a baby from a cubicle next to her.

House urged to help reform labor export procedure

House urged to help reform labor export procedure JAKARTA (JP): The Association of Labor Supplying Companies (Apjati) urged the House of Representatives to press the government to reform the labor export procedure which it described as ineffective and unfair. "Apjati needs political support from the House to force a reform of the labor export procedure if we are determined to develop this sector and solve the unemployment problem," Husein A.

Jakarta Futures Exchange begins trading on Dec. 15

Jakarta Futures Exchange begins trading on Dec. 15 JAKARTA (JP): The Jakarta Futures Exchange (JFX), Indonesia's first futures trading bourse, announced on Thursday it will begin trading on Dec. 15. The JFX said that after several delays it finally received its operating license from the Commodities Futures Exchange Supervisory Board (Bappebti) on Tuesday. The exchange will conduct a two-week trading simulation next week before it officially starts trading.

Lufthansa eyes direct services to Jakarta

Lufthansa eyes direct services to Jakarta JAKARTA (JP): Having increased the frequency of its European services to Jakarta at the start of the year, Lufthansa is now looking into the possibility of operating direct services to the Indonesian capital, the vice president for Asia Pacific operations, Manfred Reimer, said on Thursday.

Move to ban leaded gasoline gains support

Move to ban leaded gasoline gains support JAKARTA (JP): The move to stop the use of leaded gasoline gained further support on Thursday when a legislative commission sanctioned it, a proposal will also be submitted to the government by several non-governmental organizations in the hope that it will be issued as a presidential decree.

Court approves PSP appeal

Court approves PSP appeal JAKARTA (AFX-ASIA): The commercial court has approved Putra Surya Perkasa's appeal for a 40-day debt payment suspension, presiding judge chief Putu Supapmi said. Supapmi said the suspension was aimed at allowing the company to present a debt restructuring proposal to its creditors, including Asuransi Jiwa Sentra. PT Asuransi Jiwa Sentra Asia Raya had earlier filed a bankruptcy suit with the Jakarta Commercial Court against Putra Surya Perkasa.

Four more bodies found in Aceh

Four more bodies found in Aceh BANDA ACEH, Aceh (JP): Four more bodies with severe wounds were found on Wednesday in separate locations across the troubled province of Aceh, according to security officers, a medical source and an activist. An unidentified woman was found in Ujong Mangki village of Bakongan district, South Aceh. Medical staffer Sukardi of the local hospital said that her body bore sadistic wounds.

Harassment of Manulife

Harassment of Manulife The legal jam in which Canadian Manulife Financial Corp. has found itself after legally buying the assets of bankrupt Dharmala Sakti Sejahtera through a government-authorized auction in Jakarta last month is raising great doubts over the government's asset disposal program, one of the major sources of state revenue.

Malaysia palm oil ends mixed

Malaysia palm oil ends mixed KUALA LUMPUR (Reuters): Malaysian palm oil futures were mostly quiet at the close on Thursday with market attention turning to the bad weather, which traders said could affect production in the next few weeks. The benchmark third-month February futures contract ended down two ringgit at 849 ringgit (US$223.42) a ton after trading as low as 846 Market volume stood at 1,217 lots, compared with 1,287 at the close on Wednesday.

Crisis hampers oil refinery projects

Crisis hampers oil refinery projects JAKARTA (JP): The Investment Coordinating Board (BKPM) said on Thursday that none of the 20 oil refinery projects approved since 1992 had been started. "As of today, none of the projects we approved have begun production or have been realized," the board said in a statement.

Toxic chemicals found in KL rivers

Toxic chemicals found in KL rivers KUALA LUMPUR (AFP): Toxic chemicals including cyanide have been found in several rivers which supply water to Malaysia's southern state of Johor and neighboring Singapore, a report said on Thursday. Other industrial chemicals detected over the past decade include ammonia and mercury, the head of the Johor state water authority was quoted by The Sun newspaper as saying.

Immoral activities?

Immoral activities? "Councillors of Muslim-based parties (PPP, PAN and PK) demanded the Jakarta administration close nightspots during Ramadhan. In their opinion, if the nightspots remain open it will only disturb Muslims' solemnity in performing their Ramadhan prayers. PAN councillors want to close nightspots for good because all of those activities are immoral." (The Jakarta Post, Nov.

Government not to force banks to merge, Prijadi says

Government not to force banks to merge, Prijadi says JAKARTA (JP): Finance minister Prijadi Praptosuhardjo said on Thursday the government would not force domestic banks to merge to create a stronger industry but would instead let the market forces decide. "We'll not force banks to merge ... The merger of banks will be based on market forces," Prijadi told a seminar on banking. "I will study all the messages coming from the market," he added. Prijadi did not elaborate.

Schlumberger seeks more oil

Schlumberger seeks more oil JAKARTA (JP): French-based oil and gas service company PT Schlumberger Indonesia said it was discussing with state oil and gas company Pertamina ways to raise Indonesia's oil recovery factor. Schlumberger president Carlos Calad said both companies were discussing about using the right technology to drill more oil out of existing oil fields. About 65 percent of the oil found in any oil reserve remains hidden underground, Calad said.

Three RI juniors reach semifinals

Three RI juniors reach semifinals JAKARTA (JP): Henry Davin Teja and Al Imron reached the boy's singles semis and Stella Sondang reached the girl's singles semis in the 2000 Nabisco International Junior Tennis Championships at the Senayan tennis complex. Fourth seeded Henry defeated Indian Aravinda K. Prakash 6-3, 6-3 on Thursday to meet Australian Clint Letcher. Letcher upset top seeded Eko Kurniawan of Indonesia 6-2, 6-7 (6-8), 7-5.

VP: Limited means for eco-friendly development

VP: Limited means for eco-friendly development NUSA DUA, Bali (JP): Vice President Megawati Soekarnoputri admitted that the Indonesian government has limited resources to design a sustainable and environment-friendly development strategy.

Emergency status for Aceh gets mixed response

Emergency status for Aceh gets mixed response JAKARTA (JP): The government's threat to impose a civil emergency status for restive Aceh has gained both full support and stiff opposition. Secretary-general of the National Commission on Human Rights (Komnas HAM) Asmara Nababan warned the government of complicity resulting from a decision to adopt a civil emergency status for the province, which saw gross human rights violations during a decade of military operations ending in 1998.

Watch your road manners!

Watch your road manners! On Nov. 22, 2000, at around 9 p.m., a Toyota Kijang van (license plate no. CD 107 09) drove recklessly from the left lane to the right lane and vice versa on Jl. Prapanca. After passing a car abruptly, the other car, a Toyota Land Cruiser (also with a CD license plate, CD 20 ...) honked angrily, and the Kijang van stopped right in front of the car, causing the traffic to be halted.

PSSI prepares a new regulation to standardize players transfer

PSSI prepares a new regulation to standardize players transfer JAKARTA (JP): The Soccer Association of Indonesia (PSSI) has drafted a new regulation on players' transfers and it will be effective in the 2001 Bank Mandiri national soccer league early next year. PSSI competition director, Iswadi Idris, told reporters on Thursday the regulation standardizes players transfer procedures and fees in both amateur and semipro clubs competing in the Liga Indonesia (Ligina).

New home, new hope for Jakarta's street kids

New home, new hope for Jakarta's street kids By Vilomena Narat JAKARTA: "I have been (living) on the streets for eight years (1992-2000)," says Yanto, who has just finished ngamen (singing) in a city bus to make some money. "Sometimes I can pocket Rp 15,000 (US$1.6) a day from the proceeds of my ngamen, but sometimes only Rp 2,000 a day," says the 13-year-old boy. "I spend the money on meals and give the rest to my mother Iem, and my two younger brothers Danni and Kibul. "I was born in Jakarta.

Dengue fever hits Palu

Dengue fever hits Palu PALU, Central Sulawesi: Marking its return to the Central Sulawesi capital of Palu after an absence of nearly three years, dengue fever has affected at least 30 people, mostly children. Medical workers have identified the hardest hit area as the West Palu district, where the disease has claimed at least three lives over the past three weeks. An official at the local health office, Rohaya, told Antara that the disease had shown signs of spreading.

Where to go in Jakarta:

Where to go in Jakarta: Exhibitions * Painting Menembus Batas by Teguh Ostenrik, at Goethe-Institut, Jl. Matraman Raya 23, 8 p.m. to 5 p.m., Monday to Friday, until Dec. 14. * Painting The Old Painting Pre World War II, works of Picasso, Van Gough, Renoir, Chagall, Mondilgliani, Jl.H.R. Rasuna Said, South Jakarta, Nov. 24. * Mask: Sartoris' Masks in the Commedia dell'Arte, at Museum Nasional Jakarta, Jl. Medan Merdeka Barat 12, Central Jakarta (Phone: 3868172), daily except Monday, until Nov.

TV today

TV today TVRI 5:00 a.m. Religious Teachings 6:00 News 8:00 Children's Song 8:30 Music 9:00 Interval 2:00 p.m. News 2:30 Cartoon 3:00 Documentary 4:00 News 4:30 Talk Show 5:30 TVRI News 6:30 Music 7:00 Evening News 7:30 TV Drama 8:00 Sports 9:00 World News 9:30 Music 10:30 News Program 2 5:30 p.m. News 6:00 Music 7:00 Evening News 7:30 TV Drama 8:00 City News 8:30 Documentary TPI 5:30 a.m.

Police seize van believed as Tommy's getaway vehicle

Police seize van believed as Tommy's getaway vehicle JAKARTA (JP): Police seized a Mercedes Benz van on Thursday believed to have driven Hutomo "Tommy" Mandala Putra from his home in Menteng, Central Jakarta, on Nov. 3, several hours before authorities declared the youngest son of former president Soeharto a fugitive.

Cigarette TV commercials

Cigarette TV commercials From Kompas There are now quite a few TV commercials advertising various cigarette brands: Djarum Super on ANteve; Bentoel Mild and Sampoerna Hijau on Indosiar; Djarum Super, Djarum Coklat, Djarum Filter, Ardath and Pall Mall on RCTI; Gudang Garam, Djarum Coklat, Lucky Strike, Bentoel Mild, Pall Mall, Marlboro and Wismilak on SCTV; and A King, Jarum Super, Ardath and Djie Sam Soe on TPI.

BPGS still under State Secretariat, management by KONI

BPGS still under State Secretariat, management by KONI JAKARTA (JP): The Gelora Senayan Management Board (BPGS) will remain under the State Secretariat authority but it will give a bigger role to the National Sports Council (KONI) chairman, as BPGS vice chairman, to manage the assets on a day-to-day basis.

Blue Bird group to use GPS next year

Blue Bird group to use GPS next year JAKARTA (JP): The Blue Bird group, a leading taxi and bus company, plans to start using the satellite-based global positioning system (GPS) beginning early next year to provide better and more efficient service to its customers, an executive said on Wednesday. Deputy director for operational affairs, Ateng Aryono, said the company would spend "billions of rupiahs" for the use of the GPS-based in-car positioning system, which would be installed in stages.

City set to audit PT Pembangunan Jaya

City set to audit PT Pembangunan Jaya JAKARTA (JP): Governor Sutiyoso ordered the city inspectorate on Thursday to audit PT Pembangunan Jaya Ancol over a Rp 4 billion (US$425,500) fund which had reportedly been used to finance six councilors' overseas trips last month. The company's President Director Rushadi told journalists on Thursday after a meeting with Sutiyoso that the governor asked the company's board of directors to take responsibility for the disbursement of the fund.

Rail link project to get a boost

Rail link project to get a boost SINGAPORE (AP): A century-old scheme to build a railroad linking Southeast Asia with China - and eventually Europe - will receive a strong boost at a meeting of regional leaders here, a top official said on Thursday. "The summit will adopt a route," Malaysia's Foreign Minister Syed Hamid Albar said.