Indonesian Political, Business & Finance News

Archive: 4 February 2000

54 articles found

BI to adopt tight policy to arrest fall of rupiah

BI to adopt tight policy to arrest fall of rupiah JAKARTA (JP): The central bank will adopt a tight monetary policy in a bid to arrest the fall of the flagging rupiah against the U.S. dollar. Bank Indonesia deputy governor Miranda Goeltom said here on Thursday that a tighter policy was unavoidable after the United States increased its interest rates. "We have to do something or the market will punish us," she told reporters on the sidelines of a seminar.

BPGS to present assets to DPR

BPGS to present assets to DPR JAKARTA (JP): State Secretary Ali Rahman said on Thursday he would present the Gelora Senayan Management Board's (BPGS) assets in a hearing with Commission I of the House of Representatives (DPR). "The House invited us to discuss BPGS' assets. We don't want to talk about anything else because we haven't made any decision on who should manage the Gelora Senayan complex," said Ali, who is also the chairman of BPGS.

Pakistan pilot says plane was in danger

Pakistan pilot says plane was in danger KARACHI (Reuters): A Pakistani pilot said on Thursday he feared his plane, carrying then army chief Gen. Pervez Musharraf, would run out of fuel after it was denied permission to land at the southern port of Karachi. Pakistan International Airlines pilot Syed Sarwat Hussain was giving evidence in the trial of former Pakistani prime minister Nawaz Sharif, who is accused of ordering the plane's hijacking.

Tunnels built to ward off floods

Tunnels built to ward off floods BOGOR (JP): The local administration will build two drainage tunnels connecting the two biggest rivers in West Java, the Ciliwung and Cisadane, in an attempt to solve perennial flooding. "The tunnels, each eight meters in diameter and one kilometer in length, are aimed at channeling water from the two rivers, especially during the rainy season," Bogor city secretary Itoc Tochija said on Tuesday.

Seven generals on trial?

Seven generals on trial? From Rakyat Merdeka The Commission of Inquiry into Human Rights Violations (KPP HAM) in East Timor has recommended the trial of certain members of the Indonesian Military (TNI) and the National Police (Polri) for their inability to handle the situation after the independence ballot in East Timor. According to the report, the commission will name seven high-ranking officers.

PPP gives ultimatum over murder probe

PPP gives ultimatum over murder probe JAKARTA (JP): The United Development Party (PPP) faction threatened to walk out of the deliberation of the state budget if the government did not complete a murder investigation on its legislator Tengku Nashiruddin Daud within 30 days. Maksum Zaeladry, the faction's spokesman, made the statement on Thursday at a House of Representatives plenary session on the deliberation of the 2000 state budget from April to December.

Conversion Rates

Conversion Rates Bank Indonesia's conversion rates on Feb. 3, 2000: Bank notes rates Buying Selling Rp Rp U.S.

Generals rebuked over secret meeting

Generals rebuked over secret meeting By Kornelius Purba THE HAGUE (JP): President Abdurrahman Wahid warned Indonesian Army generals on Thursday against taking radical action, saying a group of generals had held a covert meeting in Jakarta during his absence. Abdurrahman said he ordered Indonesian Military (TNI) chief Adm. Widodo A.S., National Police chief Gen. Roesdihardjo and Attorney General Marzuki Darusman to take stern measures to deal with attempts to disrupt security and public order.

RI needs to rewrite its history: Anthropologist

RI needs to rewrite its history: Anthropologist YOGYAKARTA (JP): Dutch-born anthropologist Niels Mulder said Indonesia needed to rewrite its history to reconstruct the trail of events which had deliberately been geared to serve the interests of the New Order regime. Mulder particularly cited the widely lauded historical March 1, 1959, general attack, Serangan Umum, by the rag-tag Indonesian forces which he claimed was orchestrated by Yogyakarta monarch Sri Sultan Hamengkubuwono IX.

Banners torn in Bogor

Banners torn in Bogor BOGOR (JP): Bogor Regional Revenue Agency chief M. Djumala said on Tuesday that his office had torn down at least 55 commercial banners across the city as they had violated city tax regulations. "Most of the banners had expired. Others did not pay the taxes," Djumala said. He said his office had notified the parties responsible for installing the banners along the city's main thoroughfares and other strategic routes about a week ago.

Indonesia's foreign loans dilemma

Indonesia's foreign loans dilemma Before any accord was reached about the amount of assistance Indonesia would be getting from the Consultative Group on Indonesia, public demands were aired through demonstrations and press statements that the government ask the aid consortium to scrap all loans acquired during the former New Order regime. The question of whether foreign loans are needed is a classic predicament.

Kang leads Indonesia Ladies Open

Kang leads Indonesia Ladies Open JAKARTA (JP): Kang Soo-yun of South Korea slipped to first place on the second day of the Indonesia Ladies Open at the Senayan Golf Club here on Thursday. Kang is on 136 (72-64), four under par after birdying on holes 3, 5, 6, 10, 11, 14 and 16. On Wednesday she only managed to be in ninth place, scoring 72 (36-36). Kang played impressively on Thursday, hitting most of the fairways. "I want to win this tournament and the Order of Merit listing," Kang said.

INDRA rate set at Rp 6,827

INDRA rate set at Rp 6,827 JAKARTA (JP): The Indonesian Debt Restructuring Agency (INDRA) set the exchange rate used to convert private foreign debt at Rp 6,827 to the U.S. dollar for companies joining the agency in February. INDRA's February rate is higher than its January rate of Rp 6,738 a dollar. The agency's chairman Sumitro said in a statement on Thursday that the new rate was taken from the best exchange rate in January and adjusted according to the month's inflation rate of 1.32 percent.

Govt cautioned to use CGI loans effectively

Govt cautioned to use CGI loans effectively JAKARTA (JP): Economists have called on the government to use the US$4.7 billion in loans pledged by the international lender countries more effectively, so it could reduce its dependence on foreign loans in the future. "With such current conditions of hardship, the government has to exert its utmost efforts to use the foreign loans effectively," said economist Ingot Abimanyu on Thursday.

Stock quotations on JSX

Stock quotations on JSX Stock prices on the Jakarta Stock Exchange (in rupiah) on Feb. 3, 2000: Shares Close Change Trading Volume ----------------------------------------------------------- Ades Alfindo 850 0 100,000 Adindo Foresta Indonesia 900 -25 19,349,500 Alakasa Industrindo 475 0 0 Alfa Retailindo 950 0 219,500 Alter Abadi 375 0 7,500 Alumindo Light Metal 1,100 0 1,500 Aneka Kimia Raya 450 0 0 Aneka Tambang (Persero) 1,225 0 5,055,000 Anwar Sierad 325 0 25,000 APAC Centertex Corp.

Davis Cup ties kick off worldwide

Davis Cup ties kick off worldwide JAKARTA (Agencies): Indonesia is ready for a revenge against the Philippines when they start the first round of the Asia Oceania Zone Group II Davis Cup tie at Rizal Memorial Tennis Center on Friday. Indonesian Suwandi will meet Johnny Arcilla in the first singles match while Febi Widhiyanto will fight former Filipino's double player Adelo Abadia in the second match.

More support pours in for KPU liquidation

More support pours in for KPU liquidation JAKARTA (JP): The Independent Election Monitoring Committee (KIPP) threw its weight on Thursday behind a plan to dissolve the General Elections Commission (KPU), citing its failure to maintain impartiality. "We observed KPU was not independent and impartial during last year's elections," secretary-general of the poll watchdog Mulyana W. Kusumah told a seminar on local elections and the creation of new regions here.

Volleyball body to announce new officials next week

Volleyball body to announce new officials next week JAKARTA (JP): The Indonesian Volleyball Association (PBVSI) is likely to announce its new committee members after reporting to the National Sports Council (KONI) next Friday. PBVSI spokesman and its official in charge of foreign affairs Ahmed Solihin said on Thursday a special task force led by former executive chairwoman Rita Subowo would meet National Police chief Lt. Gen. Rusdihardjo to request he head PBVSI's board of patrons.

Wanted: A good judge

Wanted: A good judge Was President Abdurrahman Wahid wrong in proposing Benjamin Mangkoedilaga as chief justice? Constitutionally, the President does not have the right to meddle in the judicial body. The prerogative to nominate members of the Supreme Court, including its chief, belongs to the House of Representatives. The President only selects the person among the nominees proposed.

Controversy over Wiranto intensifies

Controversy over Wiranto intensifies JAKARTA (JP): The discourse on whether Coordinating Minister for Political Affairs and Security Gen. Wiranto should resign over the East Timor debacle snowballed on Thursday, amid fears about a further plunge of the rupiah resulting from the political tension. A financial market observer, Theo Toemion, expected the Indonesian currency to break the Rp 8,000 level against the greenback by next week if Wiranto's status remained uncertain.

EU pledges more aid to RI

EU pledges more aid to RI BRUSSELS (AFP): The European Commission proposed on Wednesday to step up its cooperation with Indonesia, despite its worries over new tensions in the vast country. In a policy outline, the EU executive branch said the time was ripe for Brussels to extend more aid to combat poverty and encourage sustainable development of natural resources.

Hotels, malls and cafes light up for Lunar New Year

Hotels, malls and cafes light up for Lunar New Year By Stevie Emilia JAKARTA (JP): Welcome to the hustle and bustle of the Chinese Lunar New Year, which falls on Feb. 5 this year. Festivities this year are made possible by the revocation on Jan. 18 of Presidential Instruction No. 41/1967, which had restricted the observance of Chinese religious and cultural practices in public since it was passed.

Roses are red, and expensive too

Roses are red, and expensive too SURABAYA, East Java: Say it with flowers and pay a hefty price. That's what residents here are quickly finding out as Chinese New Year on Saturday and Valentine's Day on Feb. 14 approaches. Flower vendors have reportedly doubled the price of most bouquets in anticipation of the two commemorative days in which people traditionally buy flowers. Antara reported on Thursday that a bouquet which previously sold for Rp 35,000 was now selling at Rp 50,000.

Rupiah hits four-month low as Wiranto standoff lingers

Rupiah hits four-month low as Wiranto standoff lingers SINGAPORE (Dow Jones): The rupiah dropped again in late Asian trading Thursday as the standoff between Indonesian President Abdurrahman Wahid and powerful Security Minister Gen. Wiranto continues. However, regional currencies were mixed following the U.S. Federal Reserve Wednesday fulfilled market expectations and lifted the Fed Funds rate 25 basis points. After slipping to Rp 7,700 against the U.S.

BCA gets green light to float shares on JSX despite losses

BCA gets green light to float shares on JSX despite losses JAKARTA (JP): The management of the Jakarta Stock Exchange (JSX) will accept the planned listing of Bank Central Asia on the bourse despite the fact that the bank suffered losses in the last two consecutive years. The JSX said Thursday that BCA, once the country's largest banks, had met all the requirements except that which required the bank to book profits in at least two consecutive years before listing.

Demand for Freeport contract review blasted

Demand for Freeport contract review blasted JAKARTA (JP): A legislator criticized on Thursday two commissions of the House of Representatives for recommending on Tuesday a review of the contract of work held by copper and gold mining company PT Freeport Indonesia.

Body to ask Lewis & Peat to settle all contracts

Body to ask Lewis & Peat to settle all contracts SINGAPORE (Dow Jones): The rubber trade associations of Thailand, Indonesia, Malaysia and Singapore plan to ask the Lewis & Peat group and its receivers to honor all outstanding contracts, Thai Rubber Association president Choositt Ophaswongse told Dow Jones Newswires Thursday. TRA members had asked the association to look into the matter for them, Choositt said.

Engineer dies from inhaling fumes

Engineer dies from inhaling fumes JAKARTA (JP): An engineer died and two others suffered breathing difficulties after apparently being overcome by fumes at Tanjung Priok Port in North Jakarta on Thursday. A dockyard company employee who spoke on the condition of anonymity said the men were repairing a cargo ship which emitted thick smoke from its engine. Ganda Suganda, 32, died after being taken to Suka Mulya Hospital. His remains were sent to the Cipto Mangunkusumo General Hospital's morgue.

Local animated film industry still not fully alive

Local animated film industry still not fully alive By Gotot Prakosa JAKARTA (JP): The development of animated films in Indonesia, which is the subject of an exhibition which opened on Saturday, has depended heavily on the television industry. The first animated film here was made by Pak Ooq, or Dukut Hendayana, who studied at Walt Disney Studios in the 1950s.

City to introduce new parking system

City to introduce new parking system JAKARTA (JP): The City Parking Agency will introduce a new street parking system to provide better service to residents, an official said on Thursday. "We will implement the new system in a trial period from next Monday until March 31 in an operation named Operasi Raih Simpati (Sympathy Operation) throughout the city," the agency's deputy head Bubung Burhana told reporters at City Hall.

Old Supreme Court building damaged due to project

Old Supreme Court building damaged due to project JAKARTA (JP): Historical and protected heritage sites in Jakarta have been damaged to such an alarming extent that the agents now inflicting the damage often include government institutions. This phenomenon was evidenced by the recent demolition of the rear part of the state-owned listed and registered old Supreme Court building on Jl. Lapangan Banteng Timur in Central Jakarta for the sake of the construction of a new building.

Enter the dragon for the Chinese New Year

Enter the dragon for the Chinese New Year By Grace Segran JAKARTA (JP): The Chinese New Year, celebrated on the first day of the Chinese lunar calendar, is the most important annual festival for the Chinese community. Each year is named after one of the 12 animals according to the Chinese zodiac; there is the Rat, Ox, Tiger, Hare, Dragon, Snake, Horse, Sheep, Monkey, Rooster, Dog and Boar, in that order. On Feb. 5 this year, the Chinese will celebrate the new year of the dragon.

GAM agrees to end fighting in Aceh: Gus Dur

GAM agrees to end fighting in Aceh: Gus Dur THE HAGUE (JP): President Abdurrahman 'Gus Dur' Wahid announced here on Wednesday that the separatist rebel group Free Aceh Movement (GAM) had agreed to end more than two decades of fighting with Indonesian security forces in the restive province and begin peace talks. Abdurrahman said the exiled GAM president, Hassan Tiro, approved the truce during negotiations with the Indonesian ambassador to Switzerland.

Is it curtains for Samarinda's shadow puppets?

Is it curtains for Samarinda's shadow puppets? By Sutoro T. Wayang Banjar, the traditional shadow puppet art of Samarinda in East Kalimantan, is dying out, unable to compete with more sophisticated folk arts brought in by migrants. Younger Banjar natives have not taken up the fight to save their homegrown cultural treasure. They are indifferent to the tradition and attracted to the influx of new arts.

KUD, NGOs accused of alleged Rp 450b fraud

KUD, NGOs accused of alleged Rp 450b fraud MAKASSAR, South Sulawesi (JP): The South Sulawesi Provincial Prosecutor's Office has vowed to investigate reports of alleged fraud by the village cooperatives (KUD) and local non- governmental organizations (NGOs).

Congress costs PDI-P Rp 6b

Congress costs PDI-P Rp 6b SEMARANG, Central Java: The Indonesian Democratic Party of Struggle (PDI Perjuangan) will have to fork out about Rp 6 billion to finance its upcoming congress here which is due to be held from March 26 to April 1. The congress' local treasurer, Supito said on Thursday about half the costs would be financed by the party's central board while the rest would be collectively gathered from party branches.

CIA services by proxy

CIA services by proxy Although in his letter (The Jakarta Post, Feb. 2, 2000: On the CIA's role), Mr. Richard Lewis confirms some of the facts mentioned in my article (the Post, Jan. 13 and Jan.14: The U.S.: A party to mass murder?), worryingly he stops just short of exonerating the CIA by rather recklessly stating, "The CIA, while a contributor, was neither the cause nor the catalyst". It is Mr.

House cautions govt to be realistic about state budget

House cautions govt to be realistic about state budget JAKARTA (JP): The House of Representatives warned the government on Thursday not to be overly optimistic with its 2000 state budget economic targets amid the current social and political instability, and the weakening rupiah.

Govt urged to take firm action against bad debtors

Govt urged to take firm action against bad debtors JAKARTA (JP): Senior economist M. Sadli called on the government on Thursday to take stern legal sanctions against recalcitrant debtors and award the cooperative ones with possible debt reduction.

Where to go in Jakarta: Friday, Feb. 4, 2000

Where to go in Jakarta: Friday, Feb. 4, 2000 Exhibitions * Comics, Animation Exhibition, at National Gallery, Jl. Medan Merdeka Timur 14, Gambir, Central Jakarta (Phone: 3813021), 10 a.m. to 8 p.m., Feb. 5 - 14. * Painting Exhibition: 12 paintings by 12 Russian painters, at Borobudur Hotel, Jl. Lapangan Banteng Selatan, Central Jakarta (Phone: 3805555), 9 a.m. to 9 p.m., Feb. 4-5. * Painting Exhibition: by Melo Tedesco, at Duta Fine Arts Foundation, Jl.

Govt to submit 'strong' rights tribunal bill

Govt to submit 'strong' rights tribunal bill By Budiman Moerdijat JAKARTA (JP): A group of legal experts is putting the final touches to a new bill which could provide the key legal instrument to try Gen. Wiranto for human rights abuses in East Timor.

Thieves kill security guard, escape with cars

Thieves kill security guard, escape with cars JAKARTA (JP): South Jakarta police detectives have found one of two luxury cars, stolen by seven armed robbers from the home of Anton Budiman in Kebayoran Lama. Anton's security guard, Musa, was killed during the robbery. Chief of violence and crime unit First. Lt. Sandi Nugroho said the early Thursday morning robbery, in which suspects left Musa, 50, lying dead in the garden, and a driver, Suradi, 50, unconscious, could be solved quickly.

Police catch 58 foreign drug smugglers since 1999

Police catch 58 foreign drug smugglers since 1999 JAKARTA (JP): National Police headquarters have recorded a total of 58 foreigners who have attempted to smuggle narcotics and psychotropic substances into the country, beginning 1999 till today, an officer said on Thursday. "Out of those 58, only nine dossiers have been submitted to the Indonesian courts. Eleven suspects died after being shot by Police, while two others died of overdoses," Col.

Politics obscure RI economic reforms

Politics obscure RI economic reforms LONDON (Reuters): Foreign investors are reluctant to buy into Indonesia's recovery story as the risks from an escalating political row between the President and military outweigh potential gains from an impressive reform program.

Public needs to honor researchers: Official

Public needs to honor researchers: Official JAKARTA (JP): Officials here have warned that if the public fails to accord researchers the proper respect and acknowledgment they truly deserve, the field will be sidelined and Indonesia itself will suffer from a lack of technological innovation. The secretary-general at the State Ministry of Research and Technology, Jose Roesma, said the lack of prestige given to researchers make many shy away from working as researchers.

Benjamin gains support to head Supreme Court

Benjamin gains support to head Supreme Court YOGYAKARTA (JP): Benjamin Mangkoedilaga, a reputed former judge, is the right man to head the Supreme Court, and his promotion to hold the post is lawful, a Yogyakarta-based law expert, Prof. M. Mahfud MD says. The professor at the Indonesian Islamic University (UII) said on Thursday that he supported President Abdurrahman Wahid's plan to promote Benjamin, who is currently a member of the National Commission on Human Rights.

Four maids perish in house fire

Four maids perish in house fire JAKARTA (JP): The gently falling rain could do nothing to ease the pain of Jonathan Chan and his family, who lost their four housemaids to a raging fire on Wednesday night. Heavy rain and 13 fire engines were no match for the fire, which engulfed both the Chan house and E. Simanjuntak's, his neighbor, on Jl. Simprug Golf III in Kebayoran Baru, South Jakarta. "It was so unexpected ...

WW II bomb kills 13, injures eight

WW II bomb kills 13, injures eight TERNATE, North Maluku: Thirteen people died and eight others were wounded when a buried bomb left over from World War II exploded on Galogalo island. The bomb exploded on Monday when a group of people tried to cut through the bomb casing to get at the explosives. Antara reported here on Thursday that a statement issued by Morotai subdistrict chief Salim Ali said the injuries were being treated at a local community health center.

Democracy not the cure-all for what ails society: Brennan

Democracy not the cure-all for what ails society: Brennan Father Frank Brennan SJ AO is director of Uniya, a social justice research and action center based in Sydney, Australia, which focuses on justice for marginalized groups as well as for refugee rights, the bill of rights and human rights in Australia and East Asia. A noted Australian lawyer as well as a Jesuit priest, Brennan visited Indonesia recently at the invitation of the Australian Studies Center, University of Indonesia.

Toyota introduces newest series of popular Kijang van

Toyota introduces newest series of popular Kijang van JAKARTA (JP): Carmaker PT Toyota Astra Motor launched its newest model of the popular Kijang multipurpose van on Thursday. Company marketing director Alam Wiyono said Astra expected to continue its leading position in the market segment of commercial vehicles with the launching of the vehicle. "Our sales expectation would be around 3,900 to 4,000 units per month," Alam said during a news briefing.

Snags in antimonopoly law

Snags in antimonopoly law By Destivano Wibowo JAKARTA (JP): With the promulgation of Law No.5/1999 on Anti- Monopoly and Unfair Competition it seems that those who have benefited from monopolistic practices in the past will have to reevaluate all their business activities. Monopolistic facilities were either obtained directly or indirectly, through policies of the New Order administration or due to their own practice of obstructing competition.

Asian merger deals skyrocket

Asian merger deals skyrocket BANGKOK (AP): Mergers and acquisitions skyrocketed last year in the five countries struck hardest by the Asian economic crisis - Indonesia, Thailand, Malaysia, South Korea and the Philippines. The UN Conference on Trade and Development, which is holding its 10th ministerial meeting of 188 member countries Feb.

Mandiri change not for the better

Mandiri change not for the better I have been a customer with the former Bank Exim, now part of Bank Mandiri, for 15 years. I have always been pleased with service at the Denpasar branch, and have enjoyed ready access to the dollars in my U.S. dollar account. However, now that Bank Exim has merged with Bank Mandiri, policies have changed under the new management with seemingly little concern for their effect on loyal clients. For example, I need the U.S.

Number of foreigners arrested up in 1999

Number of foreigners arrested up in 1999 JAKARTA (JP): Ninety-six foreigners were arrested last year for various crimes ranging from robberies, drug-related incidences, overstays, violence, murder, rape, possession of weapons, prison escapes and kidnapping, an officer of the police information unit said. "There were only 70 foreigners netted in 1998. The hike in criminal activities by foreigners is probably due to an increase in drug and gun-related crimes," Col. Saleh Saaf said on Thursday.