Indonesian Political, Business & Finance News

Archive: 20 December 2000

59 articles found

Beyond Gus Dur's visit

Beyond Gus Dur's visit President Abdurrahman Wahid's jokes may have broken the ice and tension in Aceh during his meeting with a group of about 500 carefully screened people at Baiturrahman Mosque in Banda Aceh on Tuesday. But temporary relief and a lull in the violence is about all that his brief visit accomplished, nothing else. The tone of his speech, broadcast live across the nation, was conciliatory and at times refreshingly self-deprecating.

JSX expects 30 new IPOs next year

JSX expects 30 new IPOs next year JAKARTA (JP): The Jakarta Stock Exchange (JSX) is expecting 30 new listings next year up from 21 this year, as more companies launch initial public offerings (IPO) to capitalize on a recovering stock market. Of the 30 companies to float their shares, JSX expects 20 small to midsize companies, and 10 large companies. The exchange did not estimate the amount of capital that might be raised through the IPOs.

Threat of disintegration in Maluku alarming: Ryaas

Threat of disintegration in Maluku alarming: Ryaas JAKARTA (JP): State Minister for Administrative Reforms Ryaas Rasyid said on Tuesday that threats of disintegration in Maluku were much more dangerous than the separatist movements in Aceh and Irian Jaya provinces.

Manulife files suit in HK

Manulife files suit in HK HONG KONG (AFX-ASIA): Manufacturers Life Insurance Co said it has filed a suit in the High Court of Hong Kong seeking damages of HK$400 million over a dispute about the ownership of PT Dharmala Sakti Sejahtera's 40 percent stake in PT Asuransi Jiwa Manulife Indonesia. In a statement, the company said it filed the case against Harvest Hero International Ltd, Boxjet Ltd, Lay Ie Leng and AMS Management Services Ltd for their alleged involvement in the dispute.

The police and Tommy

The police and Tommy In a joint declaration, the top command of the national police has assured the nation that fugitive Tommy Soeharto will be caught before the end of the year. The impression is that the police now have an idea where the famous son of the former ruler is hiding himself. Responding to questions from the press, the police spokesman could only say that Tommy is still in the country. There has not been any explanation of how the police arrived at that conclusion.

Vajpayee ready for peace talks with Pakistan

Vajpayee ready for peace talks with Pakistan NEW DELHI (AFP): Indian Prime Minister Atal Behari Vajpayee said on Tuesday he was ready for talks with Pakistan on Kashmir, as the state's top militant group urged separatist parties to bury differences on the region's future. "We are ready to talk to anyone for solving the Kashmir tangle including with our neighbor provided the situation improves," Vajpayee told the upper house of the Indian parliament.

Seven rebels killed in RP

Seven rebels killed in RP ZAMBOANGA, Philippines (AFP): A soldier and seven members of a Philippine Muslim group holding an American and a Filipino hostage were killed in a clash, the military said on Tuesday. Three other government troops were wounded in the fighting, on the southern island of Jolo, regional military spokesman Col. Hilario Atendido said. It erupted last Sunday after elite Army Scout Rangers stormed an Abu Sayyaf hideout in the village of Pansol.

Crude oil price eases slightly

Crude oil price eases slightly LONDON (AFP): The price of crude oil eased slightly on Tuesday, but remained above US$26 a barrel, as the market anticipated a US cold snap and a possible OPEC output cut in the new year. Benchmark Brent North Sea crude for delivery in February notched down to $26.04 a barrel in early trading deals, from $26.24 at the close on Monday.

Ramadhan time for Jakarta

Ramadhan time for Jakarta Wednesday Maghrib 6:08 p.m. Thursday Imsak 4:03 a.m. Subuh 4:13 a.m.

Tommy, learn from Prophet Joseph

Tommy, learn from Prophet Joseph From Media Indonesia I am referring to Tommy Soeharto's Nov. 3 disappearance following the President's rejection of his request for clemency. I am asking Tommy to reflect on Prophet Joseph (known as Nabi Yusuf in Indonesian), the only prophet to go to jail, however, not because of his wrongdoings but because he wanted to be jailed in his attempt to get rid of the devil's temptation through the Egyptian King's wife, Qithfir Al-Aziz (Zulaikha) to commit adultery.

Homemade bomb rocks hospital in Yogyakarta

Homemade bomb rocks hospital in Yogyakarta YOGYAKARTA (JP): An explosion jolted the state-run Dr. Sardjito General Hospital here at around 1 a.m. on Tuesday, injuring a security guard and damaging a lavatory near the hospital's morgue The explosion caused a hole measuring about 35 centimeter long 25 cm wide and 7.5 cm deep in the lavatory's floor.

Between labor strikes and low tar and nicotine requirements

Between labor strikes and low tar and nicotine requirements SURABAYA (JP): A labor strike is not considered a major obstacle for the operation of cigarette companies in East Java. At least that is what HM Sampoerna feels. There are, however, differing opinions among other East Java companies who have experienced numerous labor strikes this year. It was said by some that the scale and the nature of the strikes scared investors away from East Java.

Liquidation persists in Malaysia palm oil futures

Liquidation persists in Malaysia palm oil futures KUALA LUMPUR (Reuters): Malaysia's palm oil futures closed mostly lower on Tuesday as liquidation persisted on fears over a build-up in stocks and the absence of fresh fundamentals. "This liquidation is partly contributed to COMMEX's announcement to increase the margin money to 2,200 ringgit for spot (January) and 2,000 ringgit for forward month," said one trader in Kuala Lumpur.

IMF waiting for amendment of central bank law

IMF waiting for amendment of central bank law JAKARTA (JP): The International Monetary Fund (IMF) will disburse its next loan tranche to Indonesia only after the House of Representatives completes a crucial amendment of the central bank law, Minister of Finance Prijadi Praptosuhardjo said on Tuesday. Prijadi said a credible central bank law was crucial to maintain investor and market confidence in the economy.

Rupiah leads advance in Asian market

Rupiah leads advance in Asian market SINGAPORE (Dow Jones): Asian currencies were mixed late Tuesday, as caution before the Federal Reserve's meeting sapped whatever trading interest was left ahead of the yearend holidays, market watchers said. Southeast Asian currencies were stronger, with the Indonesian rupiah leading the advance, while stock market weaknesses in the North pressured the South Korean and the New Taiwan dollar.

Foreign funds pull $474m out of Malaysia in October

Foreign funds pull $474m out of Malaysia in October KUALA LUMPUR (Reuters): Foreign funds withdrew nearly half a billion dollars from Malaysia in October, registering rising disenchantment with the slow pace of corporate restructuring. Latest data posted by the National Economic Action Council (NEAC) on its website (www.neac.gov.my) showed that net foreign portfolio outflow totaled 1.8 billion ringgit ($474 million) between October 4 and November 1.

Ticket scalpers threaten to burn down train station

Ticket scalpers threaten to burn down train station JAKARTA (JP): City police headquarters has deployed a number of policemen, including plainclothes officers, at train stations in the capital in response to threats made by ticket scalpers, an officer said on Tuesday. Spokesman Supt. Anton Bahrul Alam refused to disclose the number of officers deployed at train stations. "It's a secret," he said. "The scalpers are not right in threatening.

Weak control over Jakarta budget

Weak control over Jakarta budget From Warta Kota In the last few days Warta Kota has published its coverage of the draft budget of the Jakarta administration. This coverage has opened my eyes to how we, the people, have been arbitrarily treated by the executive power. Regional administration officials, for example, can freely devise fictitious budget items for their own benefit, which could escape the people's attention but for the media coverage.

Government will dissolve Kamra despite threat of protest

Government will dissolve Kamra despite threat of protest JAKARTA (JP): Despite facing threats of violent protest, the government will continue with its plan to dissolve the civilian guards of the People's Security (Kamra) on Wednesday. "Due to the National Police's tight agenda for its year-end activities, Kamra will officially be dissolved tomorrow (Wednesday)," spokesman for the Ministry of Defense for foreign cooperation Commodore A.F.M. Kamto Soetirto told The Jakarta Post on Tuesday.

ADB signs Indonesian aid

ADB signs Indonesian aid JAKARTA (JP): The Manila-based Asian Development Bank (ADB) has agreed to provide Indonesia with US$115 million in loans to partly finance poverty eradication projects in the country's six less developed provinces in Kalimantan and Sulawesi. The loan was signed in Manila by ADB's president Tadao Chino and the Indonesian ambassador to the Philippines Soeratmin.

Shanties increase rapidly in Batam

Shanties increase rapidly in Batam BATAM, Riau: The thriving growth of shanties and slum houses in Batam is encouraged by the fact that there is no single law which can control urbanization, an official says. The head of information and marketing office at the Batam Authority, Ahmad Dahlan, told The Jakarta Post on Monday that the annual influx of migrants to Batam was high, and a regulation was badly needed to curb the situation.

Semarang hosts Golden Glove C'ships

Semarang hosts Golden Glove C'ships SEMARANG (JP): Semarang will host the Golden Glove National Boxing Championships in February 2001. The event will feature 11 weight divisions. "The championships will be attended by professional boxers from various clubs throughout the country. However, the fighters must meet requirements set by the Indonesian Amateur Boxing Association (Pertina)," said the body's head of technical commission Ferry Moniaga on Monday evening.

Gus Dur taps Taufik for deputy chief justice

Gus Dur taps Taufik for deputy chief justice JAKARTA (JP): While the fate of the nation's next chief justice remains up in the air, President Abdurrahman Wahid has had no hesitation in appointing Taufik as deputy chief justice. There was no immediate explanation on Abdurrahman's selection of Taufik over Abdurrahman Saleh who was the other candidate nominated by the House of Representatives. The appointment was made official by Presidential Decree No. 18/M signed on Monday.

Singapore aims to become cashless society: BCCS

Singapore aims to become cashless society: BCCS SINGAPORE (AFP): Singapore has begun exploratory work on becoming the world's first cashless society, with handheld devices such as mobile phones replacing notes and coins possibly within eight years. The benchmark date for ending the days of wallets bulging with small coins, and hunting for suitable-sized notes to pay for goods and taxi fares, is 2008.

Lee's memoirs shed light on Indonesia-Singapore relations

Lee's memoirs shed light on Indonesia-Singapore relations By Jusuf Wanandi JAKARTA (JP): Remarks by President Abdurrahman Wahid about bilateral relations between Indonesia and Singapore, made after the ASEAN Informal Summit in Singapore last month, have once again made the top the center of debate.

Rupiah Rates Dec. 19

Rupiah Rates Dec. 19 Bank notes rates TT rates Buying Selling Buying Selling Rp Rp Rp Rp U.S.

Observers blame President for government's poor performance

Observers blame President for government's poor performance JAKARTA (JP): Political and legal observers blamed President Abdurrahman Wahid on Tuesday for the government's poor performance, saying the President and his leadership style were the main reason for the country's continued problems.

Government still undecided on civil servants' wages

Government still undecided on civil servants' wages JAKARTA (JP): Senior government officials stressed on Tuesday that no definite decision had been taken on raising civil servants' wages as earlier reported.

Bentala sells Aetna shares

Bentala sells Aetna shares JAKARTA (JP): PT Bentala Kartika Abadi (Bentala) announced on Tuesday the sale of its 8.7 million shares in PT Aetna Life Indonesia to PT ING Insurance Indonesia. The proceeds of the sale, which totaled about Rp 12.4 billion, will be used to reduce the Bentala Group's debts to the Indonesian Bank Restructuring Agency (IBRA).

Prescription for the Indonesian bond market

Prescription for the Indonesian bond market By Thads Bentulan HONG KONG (JP): There is a perfect reason why the writer is playing doctor to the Indonesian bond market -- there exists no rupiah government benchmark. Now, this could not be a perfectly correct statement because there actually exists a debt instrument called Sertifikat Bank Indonesia (SBI) and still another called the bank recapitalization (Recap) bond but I am going to demolish their standing as possible useful benchmarks later.

Organda threatened with sanctions

Organda threatened with sanctions JAKARTA (JP): The city administration will take stern measures against the Association of Land Transportation Owners (Organda) if the association forces all taxi operators to apply the new fare, an official said on Tuesday.

Peaceful means promised in Aceh

Peaceful means promised in Aceh By Budiman Moerdijat & Muharram M. Nur BANDA ACEH, Aceh (JP): President Abdurrahman Wahid said during a visit here on Tuesday the government would shun brutal military operations in the province, pledging to seek a peaceful solution to the problems in Aceh.

Authorities prepare for annual holiday exodus

Authorities prepare for annual holiday exodus JAKARTA (JP): With only a few more days to go to the peak of the annual mudik (annual exodus from the major cities to hometowns), the responsible authorities across Java have made major preparations in anticipation of floods, landslides, traffic congestion, stranded passengers and crimes.

The Indonesian corps that can do no wrong

The Indonesian corps that can do no wrong By Aboeprijadi Santoso BANDA ACEH (JP): The mayhem occurring in Aceh, Irian Jaya and the former Indonesian province of East Timor stems a great deal from violence and oppression. Economic exploitation aside, violence is seen as the identity of the state the regions are supposed to belong to. With violence continuing in Aceh and Irian Jaya, the Army has apparently not learned much from its past discourse and the resulting trend of disintegration.

Perbasi to appoint head coach for SEA Games 2001

Perbasi to appoint head coach for SEA Games 2001 JAKARTA (JP): The Indonesian Basketball Association (Perbasi) has decided to appoint a head coach for the men's and women's national basketball teams to be groomed for the Kuala Lumpur 2001 Southeast Asian (SEA) Games, an official said on Tuesday. "Perbasi appointed Rastafari Horongballa as the head coach to help men's coach Tjetjep Firmansyah and women's coach Willyanto Pribadi," secretary-general Yudi Soeyoto told reporters.

Anarchic actions driving tourists away: Minister

Anarchic actions driving tourists away: Minister JAKARTA (JP): The Ministry of Culture and Tourism closed the year with a pledge to boost tourism promotion and repair the country's tarnished public image resulting from recent anarchic actions which have "effectively driven the foreigners away", Minister I Gde Ardika said. "We are still suffering from the consequences of these radical mob actions.

Indonesia needs strong leadership, says Wardah Hafidz

Indonesia needs strong leadership, says Wardah Hafidz One of the reasons why Indonesia is still dogged by the multidimensional crisis is because it has no effective, courageous and sensitive leaders, says sociologist Wardah Hafidz of the Urban Poor Consortium (UPC), the NGO that recently won the 2000 Yap Thiam Hien human rights award.

East Timorese end talks in Bali on high note

East Timorese end talks in Bali on high note KUTA, Bali (JP): A two-day East Timor dialog ended with optimism here on Tuesday as most participants expressed the belief that the door toward reconciliation was now ajar. Statements made by several political figures attending the meeting, such as Indonesian foreign minister Alwi Shihab, Uni Timor Aswain (UNTAS) chairman Dominggus Soares, and head of the Council for Timorese National Resistance (CNRT) Jose Alexandre "Xanana" Gusmao were positive.

Hoodlums brawl in Cileungsi

Hoodlums brawl in Cileungsi BOGOR (JP): A resident of Cileungsi was seriously injured during clashes among local thugs, who have been engaged in sporadic battles since Sunday. Eyewitnesses said on Tuesday that Iskandar, an employee of a private company in Cileungsi, was beaten by group of thugs in the early hours of Tuesday. Rasyid, a relative of Iskandar, said he did not know why Iskandar was attacked. "He lost almost all of his teeth and had his jaw broken. He was also stabbed in the head.

Marubeni to reduce interest rate of Chandra Asri debt

Marubeni to reduce interest rate of Chandra Asri debt JAKARTA (JP): Japan's Marubeni Corp. has agreed to lower the interest rate of the debt owed by the local petrochemical giant PT Chandra Asri, according to Coordinating Minister for the Economy Rizal Ramli. Rizal said on Tuesday that the interest rate had been lowered to 1.5 percentage points above Libor (London Interbank Offering Rate) from the previous level of 2.5 percentage points. "This should help Chandra Asri...

New bookshop to satisfy all readers

New bookshop to satisfy all readers By Grace Segran JAKARTA (JP): A bilingual bookshop aiming to be different by providing a comfortable, pleasant atmosphere conducive to browsing, a wide array of carefully-selected titles, and service from unobtrusive and knowledgeable staff is now available to satisfy book lovers. Aksara is situated in a new building beside the duty free shop in the Kemang area, South Jakarta, and carries both English and Indonesian titles.

S'pore dismisses Gus Dur's remarks

S'pore dismisses Gus Dur's remarks SINGAPORE (Agencies): Singapore denied on Tuesday that Senior Minister Lee Kuan Yew had suggested that Indonesia's President Abdurrahman "Gus Dur" Wahid might step down in two months. Abdurrahman had previously stated that Lee, during a meeting between them last month, had suggested that the Indonesian President would soon step down.

Pramindo prefers joint venture with Telkom

Pramindo prefers joint venture with Telkom JAKARTA (JP): PT Pramindo Ikat Nusantara has proposed the establishment of a joint venture with PT Telkom to resolve a two- year dispute over its joint-operation agreement with the state- owned telecommunication company.

Weather conditions dampen holiday season for travelers

Weather conditions dampen holiday season for travelers JAKARTA (JP): This season will probably be the toughest one for the anticipated millions of commuters in Java with three major national holidays -- Christmas, Idul Fitri and New Year -- all falling in sequence. The situation this year is further compounded by weather conditions which have caused massive floods and landslides.

Sugar truck driver robbed, murdered

Sugar truck driver robbed, murdered JAKARTA (JP): A 30-year-old driver of a sugar transport truck was found dead in front of the Kampung Rambutan intercity bus terminal in East Jakarta at a few minutes past midnight on Tuesday. According to a police report, several witnesses said that the driver, identified as Rosidi of Kampung Mekar in Lampung, was robbed by a gang of eight men in Tomang, West Jakarta, on Monday night.

Where to go in Surabaya:

Where to go in Surabaya: Music and Entertainment * The Westin Surabaya, Jl. Embong Malang 85-89 (Phone: 031 5458888): - Java Jimmy's Irish Pub: Aia Reforms Band, Monday to Sunday, 6 p.m. to 2 a.m., Thursday to Saturday, 6 p.m. to 4 a.m. * Hyatt Regency Surabaya, Jl. Jend. Basuki Rakhmat 106-128 (Phone: 031 5311234): - Lobby: Gamelan (Traditional Music), 7 p.m. to 10 p.m. (Except Saturday), Solo Pianist, Monday to Friday and Sunday, 7 a.m. to 9 a.m., Saturday, 7 p.m. to 9 p.m.

Heavy downpours hamper flights

Heavy downpours hamper flights PADANG, West Sumatra: Tuesday's heavy downpours crippled the West Sumatra capital of Padang, aborting all flights to and from Tabing Airport. Airport officials said that all flights to and from Medan, Jakarta, Pekanbaru and Kuala Lumpur (Malaysia) had been delayed. The head of the Meteorological and Geophysics Agency at the airport, Emrizal, said that the rains, which started at 5 a.m.

Golkar studies Cabinet proposal

Golkar studies Cabinet proposal JAKARTA (JP): The Golkar Party will carefully evaluate the National Awakening Party's (PKB) proposal to reshuffle the governing cabinet and replace it with a new one consisting of elements from three political parties and the Indonesian Military (TNI), chairman Akbar Tandjung said on Tuesday. "Golkar has never asked for seats in the cabinet.

Motorbikes set on fire

Motorbikes set on fire From Warta Kota Now we are fiercely concerned about the bad conduct of several Jakarta bad boys. Frankly, the situation occurring on the morning of Dec. 10 at Jl. Kolonel Soegiono (extension of Jl. Casablanca), Duren Sawit, Jakarta Timur, is a grave concern to many. Unlawful motorbike racing on that road every Saturday night starting from 10 p.m. has their habitual harmful pursuit. They don't care whether other motorists are harassed or not. Around 1 a.m.

Antimonopoly body to probe eight leading companies

Antimonopoly body to probe eight leading companies JAKARTA (JP): An antimonopoly watchdog will soon investigate eight leading companies for possible violations of the antimonopoly law. Syamsul Muarif, a member of the Business Competition Supervisory Commission, said on Tuesday that all eight companies controlled more than 50 percent of the market share in their respective businesses.

Puberty brings both joy and confusion

Puberty brings both joy and confusion By Donya Betancourt SANUR, Bali (JP): Adolescence is a bridge between childhood and adulthood. However, parents sometimes are not aware of normal development issues in adolescence. One thing that has to be remembered is your teenager is not self-reliant and in fact is just trying to create their own adult identity. So today's article is about changes during puberty.

Unforgettable flavor of Taiwan's oolong tea

Unforgettable flavor of Taiwan's oolong tea By Mehru Jaffer JAKARTA (JP): When Lie Mei Chu first came to Indonesia more than two decades ago what she missed most about her native Taiwan was, tea. From a family of farmers that has lived off tea for at least four generations, Lie felt like a fish out of water without her daily cup. Extremely eager to please and wishing his pretty, young bride to feel at home, Sumarno Lohardjo at first offered her tea in every color and flavor.

TV today

TV today TVRI 3:30 a.m. Ramadhan Special: Uraian Syiar Sahur 4:30 Ramadhan Special: Koran Recital 5:30 Ramadhan Special: Pelajaran Iqro 6:00 News 8:00 Children's Program 8:30 Music 9:00 Interval 2:00 p.m News 2:30 Talk Show 3:30 Music 4:00 News 4:30 Culture Program 5:00 Ramadhan Special: Mutiara Ramadhan 6:00 TVRI News 6:30 Village News 7:00 Evening News 7:30 TV Drama 8:00 Sports 8:30 Talk Show 9:00 News 9:35 TV Series: Dos Mujeres 10:30 News Program 2 5:00 p.m.

PBSI to axe Paulus from Korea Open squad

PBSI to axe Paulus from Korea Open squad JAKARTA (JP): The Badminton Association of Indonesia (PBSI) official in charge of athletes development, Mangombar Ferdinand Siregar, told reporters on Tuesday that women's doubles coach Paulus would not go to the six-star Korea Open.

English courses for reporters

English courses for reporters JAKARTA (JP): The School for International Training (SIT) of the Pelita Harapan foundation will run English language courses for some 180 print and broadcast journalists starting next month. The English courses, a joint project between the school and the Association of Indonesian Journalists (PWI), are due to start on Jan. 15. The agreement was signed on Tuesday by SIT director Martha S. Legowo, and Soegyarto, director of PWI's education and training institute.

Stock Exchange

Stock Exchange Stock prices on the Jakarta Stock Exchange (in rupiah) on Dec. 19, 2000: Shares Close Change Trading Volume ------------------------------------------------------------ Ades Alfindo 2,400 0 502,000 Adindo Foresta Indonesia 105 0 33,000 Alakasa Industrindo 425 0 0 Alfa Retailindo 1,000 -25 585,000 Alter Abadi 115 -10 32,500 Alumindo Light Metal 875 25 11,000 Andhi Chandra 1,200 0 1,000 Aneka Kimia Raya 250 0 0 Aneka Tambang (Persero) 925 25 1,092,000 Anwar Sierad 300 0 0 APAC...

BI to pay city for land conversion

BI to pay city for land conversion JAKARTA (JP): After nine years of stalemate, the central bank (Bank Indonesia) has committed itself to pay the city administration Rp 37.8 billion (US$4 million) in compensation for acquiring a city asset, formerly Jl. Budi Kemuliaan I in Central Jakarta, in 1991. The payment will be made within 30 days.

Mayor's costs questioned

Mayor's costs questioned TANGERANG (JP): A Tangerang mayoralty councillor said here on Tuesday the proposed expenditures for the mayor in the 2001 draft budget were unrealistic. Sadjiran Tarmidzi of the budgetary commission said the Rp 778,200,000 allocated for the mayor's annual expenditures was too much.

BPGS gives Rp 5b to SEA Games training

BPGS gives Rp 5b to SEA Games training JAKARTA (JP): The Gelora Senayan Management Board (BPGS) will contribute Rp 5 billion (US$530,000) to financially help the training program for the 2001 Southeast Asian (SEA) Games in Kuala Lumpur. Gelora Senayan Executive Directors (DPGS) chairman Yasidi Hambali said Tuesday that the financial support has been on the board's agenda since it funded the Indonesian contingent for the 2000 Olympic Games in Sydney.