Indonesian Political, Business & Finance News

Archive: 11 March 2000

46 articles found

City Council withholds approval of bylaw draft

City Council withholds approval of bylaw draft JAKARTA (JP): After a heated debate, the City Council postponed the enactment of a city bylaw on the establishment of subdistrict councils following a vote during a plenary meeting on Friday evening. Of the 65 councillors attending the plenary session, 39 of them supported delaying the enactment of the bylaw, while the other 26 took the opposite stand in the vote which ended at 8:20 p.m.

What a performance! Challenging nights at TUK

What a performance! Challenging nights at TUK By Rudy Madanir JAKARTA (JP); When the master of ceremonies welcomed Chinese artist Ma Liu Ming to perform before a packed crowd at Teater Utan Kayu, the organizer of the Jakarta International Performance Arts Festival (JIPAF) distributed small pieces of paper to the audience. It was noisy for awhile as many people were shocked that the paper turned out to be quite a "challenging" invitation.

Government supports Benjamin

Government supports Benjamin JAKARTA (JP): Support mounted for noted retired judge Benjamin Mangkoedilaga to join the Supreme Court after the government officially named him a candidate on Friday to fill one of 10 vacant Supreme Court justice seats. Minister of Law and Legislation Yusril Ihza Mahendra said that Benjamin would be among 20 candidates proposed by the government.

IBRA restructures bad loans

IBRA restructures bad loans JAKARTA (JP): The Indonesian Bank Restructuring Agency (IBRA) is in the final stages of completing the restructuring of some Rp 14.4 trillion (about US$1.8 billion) worth of bad bank loans under its control. IBRA said in a statement that the debts were owed by 144 debtors. "As many as 144 debtors with combined debts of Rp 14.4 trillion have reached the final stage of restructuring and some have even settled their obligations," the agency.

Pulp producers' ratings upgrade

Pulp producers' ratings upgrade JAKARTA (JP): Local rating agency PT Pemeringkat Efek Indonesia (Pefindo) has upgraded the rating of rupiah bonds issued by three local pulp and paper producers from idA minus to idA. Pefindo announced on Friday that it had improved the rating of both PT Pindo Deli Pulp & Paper Mills' Rp 200 billion bonds and PT Tjiwi Kimia's 200 billion bonds from idA minus to idA.

Why Kissinger?

Why Kissinger? Referring to the article in New York Herald Tribune, on Feb. 29, 2000 entitled "Kissinger appointed as aide", I can only conclude that Indonesia has fallen into the hands of a "lunatic". I have voiced this warning since 1999. Kissinger would have been sent to the War Tribunal in The Hague, had it existed in 1975 - for the Christmas bombardments of Hanoi. He and Nixon drew Cambodia and Laos into the Vietnam War.

HIH enters RI market

HIH enters RI market JAKARTA (JP): Publicly listed Australian company HIH Insurance Group has entered the Indonesian insurance market through joint venture company PT Asuransi Hastin FAI. HIH Insurance Group said here on Friday the joint venture's operation had been approved by the Ministry of Finance.

Conversion Rates

Conversion Rates Bank Indonesia's conversion rates on March 10, 2000: Bank notes rates Buying Selling Rp Rp U.S.

Counterfeit money getting harder to trace: Official

Counterfeit money getting harder to trace: Official JAKARTA (JP): As the technology for printing valuable papers is no longer the monopoly of the state money printing company Perum Peruri, people will find it difficult to tell whether their money is original or counterfeit, businesspeople in the finance sector said on Friday.

UNHCR concerned by RI aid ultimatum

UNHCR concerned by RI aid ultimatum GENEVA (AP) The United Nations High Commissioner for Refugees Friday criticized Indonesian plans to cut off aid later this month to 100,000 East Timorese remaining in West Timor unless they decide whether or not to return home. The agency told Indonesia that "the March 31 deadline may force people to take a decision which they are not prepared to take yet or which they cannot take freely," spokesman Ron Redmond said.

Foreign investors continue to ignore RI

Foreign investors continue to ignore RI JAKARTA (JP): Indonesia's risk premium has changed significantly over the past two years but the country has yet to regain the interests of large international investment houses, a senior official from the Hongkong and Shanghai Banking Corporation (HSBC) Ltd. observed here.

TNI asked to help prevent E. Timor border skirmishes

TNI asked to help prevent E. Timor border skirmishes JAKARTA (JP): The head of the United Nations Transitional Administration in East Timor (UNTAET), Lt. Gen. Jaime de los Santos, is calling on the Indonesian Military (TNI) to help prevent cross-border attacks into East Timor. But during separate meetings with the TNI and government officials on Thursday and Friday, De los Santos acknowledged that the activities of militias in Indonesian territory were not connected with TNI.

NZ rescues hostage in RI: Newspaper

NZ rescues hostage in RI: Newspaper AUCKLAND (AFP): Former New Zealand special forces soldiers staged a covert operation to rescue a Chinese-Indonesia businessman being held captive for five years in Indonesia, The New Zealand Herald reported here on Friday. Johnson Cornelius Lo, who claims to be the heir to the Tiger Balm fortune, was reportedly held in a village near Yogyakarta until the New Zealand soldiers rescued him.

Two protected Betawi houses in poor state

Two protected Betawi houses in poor state By Ida Indawati Khouw While experts and scholars debate the history of Betawi and the role of Betawians in the early days of old Batavia, some Betawians continue to push for somebody with Betawi blood to become governor of Jakarta. This is the 29th article in a series on old and protected buildings and sites in Jakarta. JAKARTA (JP): Betawians can of course boast that they are the original inhabitants of Jakarta.

Batam's investors want clear policy on island's status: BIDA

Batam's investors want clear policy on island's status: BIDA By Devi M. Asmarani BATAM ISLAND, Riau (JP): Batam Industrial Development Authority (BIDA) said on Friday foreign and local investors here were concerned over the government's seemingly inconsistent economic policy on the island.

Police raid gambling dens

Police raid gambling dens MEDAN, North Sumatra: Local police have confiscated millions of rupiahs and arrested 80 alleged operators and gamblers during a two day crackdown here, an officer said on Friday. Detective chief of the provincial police Capt. Agus Andrianto said police raids on gambling dens would continue for the rest of the year as the places had sparked anxiety among the people.

Team set to present E. Timor findings

Team set to present E. Timor findings JAKARTA (JP): A special team from the Attorney General's Office will hand over its preliminary report on last year's mayhem in East Timor to Attorney General Marzuki Darusman on Monday. "The team is going to hand over its assessment on KPP HAM's report to the attorney general on Monday," Marzuki told The Jakarta Post, referring to the government-sanctioned Commission of Inquiry into Human Rights Violations in East Timor.

Save hidden treasures of the sea, Akbar says

Save hidden treasures of the sea, Akbar says JAKARTA (JP): The country needs to issue a new maritime law and regulation protecting its marine archaeological property from plundering, House of Representatives Speaker Akbar Tandjung said on Friday. Speaking at the opening of a limited exhibition on antique ceramics at the National Archives, Akbar said the country long overlooked its maritime sector and lost valuable assets to unscrupulous local and foreign companies.

Legal protection for the slaves

Legal protection for the slaves Minister of Manpower Bomer Pasaribu's statement (The Jakarta Post, March 7, 2000) that "...the government faced difficulties protecting Indonesians employed in predominantly Muslim countries because they were treated not as workers but as members of their employers' families" left me speechless.

Dance lovers promised 'Paradise' next week

Dance lovers promised 'Paradise' next week JAKARTA (JP): Joy, happiness and rapture are the nuances of Paradise, a contemporary French dance which will be performed here at Teater Tanah Airku on Tuesday at 7:30 p.m. The 60-minute dance, presented by the Montalvo-Hervieu dance company, is a feast of imagination and inventiveness, an explosion of happiness and energy.

One arrested in machete attack on deputy speaker

One arrested in machete attack on deputy speaker JAKARTA (JP): Jakarta Police Mobile Detectives (Resmob) arrested on Thursday night a suspect in last Sunday's attempted murder of National Awakening Party Chairman Matori Abdul Djalil. "We still don't have the main suspect who ordered Matori's assassination. The man we have arrested, Sabar, has identified the him as Zulfikar, also known as Muhammad Ichwan," Jakarta Resmob chief Capt. Riad said on Friday.

Kartini's claim of rape could win her reprieve from death row

Kartini's claim of rape could win her reprieve from death row JAKARTA (JP): Hopes are high that Indonesian maid Kartini bin Karim will avoid the death penalty in the United Arab Emirates (UAE) for adultery as she has testified that she was raped, director general for labor placement Din Syamsuddin said on Friday.

New Press Council members elected

New Press Council members elected JAKARTA (JP): A nine-member National Press Council has been established with an urgent mission to handle public complaints, improve the national press' professionalism and uphold democracy, said an elect council member.

Pedicab drivers demand new jobs

Pedicab drivers demand new jobs JAKARTA (JP): Drivers of becak (pedicabs) in Central Jakarta questioned officials on Friday about alternative jobs which the city administration promised would improve their welfare. About 50 of 100 drivers who attended the meeting said they were left with no choice but to continue to work on the streets to support their families until they got the new jobs. Masud M.

Miners told to build roads

Miners told to build roads JAKARTA (JP): South Kalimantan legislators have called on the local government to maintain a ruling which bans coal producers from using public roads to transport coal. "The ban is needed to protect the public roads from serious damage," the head of the local legislative council, Mansyah Add, said at the provincial capital of Banjarmasin on Friday.

Razaleigh to run for top UMNO posts

Razaleigh to run for top UMNO posts KUALA LUMPUR (Agencies): Former finance minister Razaleigh Hamzah was nominated on Friday to run against Prime Minister Mahathir Mohamad and his deputy for the top two leadership posts in Malaysia's dominant party. Razaleigh received support from the Tanah Merah division in his home state of Kelantan, the official Bernama news agency said. It was the first division in the United Malays National Organization (UMNO) to nominate Razaleigh for the top posts.

Angelique, Dea to meet in final

Angelique, Dea to meet in final JAKARTA (JP): Indonesian Angelique Widjaja beat Japan's Kumiko Iijima 4-6, 7-5, 6-4 on Friday to set up an all-Indonesian final against Dea Sumantri in the girl's singles of the Indonesia Gas Negara International Junior tennis championship here on Saturday. Dea had no difficulties in defeating Constanze Steiner of Austria 6-2, 6-1 in Friday's other semifinal.

Australia earns Indonesia's ire over Timor fisherman

Australia earns Indonesia's ire over Timor fisherman SYDNEY (DPA): Indonesia complained to Australia on Friday over the treatment of a Timorese fishermen who survived at sea for nearly a month only to be jailed after a cyclone blew his crippled craft ashore in a remote part of the Northern Territory.

KONI hails Mahadi's fund-raising idea

KONI hails Mahadi's fund-raising idea JAKARTA (JP): National Sports Council (KONI) deputy chairman Indra Djati Sidi welcomed State Minister of Youth Affairs and Sports Mahadi Sinambela's idea to raise funds for sports development through an excise tax on cigarettes. Indra was commenting on Mahadi's remark on Thursday that President Abdurrahman Wahid had approved his fund-raising idea. He said the council would wait for further arrangements from Mahadi's office before taking any action.

Gapki wants government to drop export tax on CPO

Gapki wants government to drop export tax on CPO JAKARTA (JP): Palm oil producers have called on the government to erase the 10 percent export tax on the commodity, saying that a slowdown in sales has led to a massive stock buildup. The Indonesian Palm Oil Producers Association (Gapki) had written to the Ministry of Finance to renew their demand, which was rejected on Feb. 2, Antara reported on Thursday.

Bambang not in Bank Surya

Bambang not in Bank Surya JAKARTA (JP): Bambang Sutrisno was no longer vice chief commissioner of the now defunct Bank Surya when the bank received emergency liquidity credit from Bank Indonesia in January, 1998, Bambang's lawyer Sudjono stated here on Friday.

Judiciary system untouched by political reform

Judiciary system untouched by political reform The controversial decision by a Jakarta district court earlier this week to free a suspect linked to a major corruption case has angered many legal observers. Corporate lawyer T. Mulya Lubis urges an immediate overhaul of Jakarta's courts and the dismissal of all bad judges. Question: How do you see the South Jakarta District Court's decision earlier this week to drop all charges against businessman Djoko S. Tjandra?

Haze turns day into night in Sumatra island

Haze turns day into night in Sumatra island JAKARTA (JP): Thick haze from forest fires shrouded several towns in Sumatra on Friday, keeping Pekanbaru, Riau, mostly in the dark during daylight hours. By 9 a.m. most homes in the provincial capital were using lights and vehicles on the roads were forced to turn on their headlights. Antara reported that rain later in the evening did not wash away the dense smog, which has been declared a natural disaster by the government.

Two U.S. scientists arrested in Borneo

Two U.S. scientists arrested in Borneo KUALA LUMPUR (AP): Two American scientists were caught by wildlife enforcement officers for allegedly trying to smuggle rare fish and insects from a Borneo rain forest, a government official said on Friday. The scientists were in the eastern state of Sarawak for more than one month, he said.

Halmahera tense after riots

Halmahera tense after riots AMBON, Maluku (JP): Tension prevailed on Friday in Halmahera in North Maluku following a series of communal clashes earlier in the week that left at least 30 people dead and dozens injured. Chief of Pattimura Military Command overseeing Maluku Brig. Gen. Max Tamaela said sporadic clashes erupted on Wednesday and Thursday in the districts of Gane Timur, Gane Barat and Galela on the eastern part of the island.

Manila concerned about trafficking

Manila concerned about trafficking MANILA (AP): The Philippine government has asked Malaysia and South Korea to help stop the trafficking of hundreds of Filipino women who become prostitutes in the two countries, according to reports obtained on Friday from the Department of Foreign Affairs. One report said the Philippine Embassy in Kuala Lumpur has documented a "gruesome scenario" of Filipino women "trafficked and subjected to sex slavery" in Malaysia.

Stock quotations on JSX

Stock quotations on JSX Stock prices on the Jakarta Stock Exchange (in rupiah) on March 10, 2000: Shares Close Change Trading Volume ------------------------------------------------------------- Ades Alfindo 800 25 28,000 Adindo Foresta Indonesia 650 0 7,637,500 Alakasa Industrindo 475 50 8,500 Alfa Retailindo 1,000 100 9,398,000 Alter Abadi 350 0 0 Alumindo Light Metal 975 0 0 Aneka Kimia Raya 325 -75 47,000 Aneka Tambang (Persero) 1,175 25 3,193,500 Anwar Sierad 300 0 0 APAC Centertex Corp.

Aceh boosts CPO production

Aceh boosts CPO production JAKARTA (JP): The province of Aceh expects to become one of the country's major crude palm oil (CPO) producers within the next few years, given the sharp increase in the size of its oil palm plantations. Head of the local plantation office Zainoeddin Andib said the provincial government had allowed the use of 139,473 hectares for oil palm plantations this year to further raise the province's CPO output.

Freeport and the environment

Freeport and the environment In his letter (The Jakarta Post, March 7, 2000 Not a catastrophe), Mr. Bruce E. Marsh sounds like a nice and sincere person. However, he is in the mining business, so there is one question he will not ask and that is whether the destruction of a mountain, a river system and its associated delta is worth the ore taken out of that mountain. For Mr. Marsh as a member of the mining industry, the answer has to be yes. For the rest of us, the answer is not so clear. Mr.

President approves Papuan Congress

President approves Papuan Congress JAYAPURA, Irian Jaya: President Abdurrahman Wahid has no objections to next month's planned Papua Congress, the congress organizers said on Friday. A member of the organizing committee, Tom Beanal, said Abdurrahman gave his approval when he met some Irianese figures, including himself, at the Bina Graha presidential office last week. Tom said the President was also considering opening the congress, but "would first discuss it with other parties".

BI to transfer Texmaco loans to IBRA

BI to transfer Texmaco loans to IBRA JAKARTA (JP): Bank Indonesia Governor Sjahril Sabirin said on Friday that Texmaco Group's bad loans owed to the state-owned Bank Negara Indonesia (BNI) would be "immediately" transferred to the Indonesian Bank Restructuring Agency (IBRA). Sjahril said that the transfer of the category five bad loans was part of the requirements of the government bank recapitalization program. "They will be transferred immediately," he told reporters following Friday prayers.

Indonesia will settle OPIC's claim: Sukardi

Indonesia will settle OPIC's claim: Sukardi JAKARTA (JP): State Minister of Investment and State Enterprises Development Laksamana Sukardi said on Friday that Indonesia would negotiate with the American government or the U.S. Overseas Private Investment Corp. (OPIC) over the claim it paid to Calenergy International. "Indonesia wants to solve the case through negotiations," Laksamana said on the sidelines of a seminar.

Burning forests

Burning forests One might have thought that three years after the calamitous forest and plantation fires that ravaged large tracts of productive forest and plantation lands in Sumatra and Kalimantan, some kind of effective mechanism could have been put in place to control what are, after all, predictable man-made disasters. No such luck. As of the middle of this week weather satellites spotted some 1,200 fires burning once again on both those islands.

Where to go in Jakarta: Saturday, March 11, 2000

Where to go in Jakarta: Saturday, March 11, 2000 Exhibitions * Painting Exhibition: Pameraya 2000 by H. Widayat at the National Gallery, Central Jakarta, until March 31. * Painting Exhibition: Generasiku Harapanku by Trubus S, Kartono Y, Wakidi, Sudarso, Ad Pirous Dullah, etc., at Hotel Mulia Senayan, Jl. Asia Afrika, Senayan, Central Jakarta (Phone: 5747777), until March 17. * Painting Exhibition: Pesona 2000 at the lobby of Aston Atrium Hotel, Jl. Senen Raya 135, Central Jakarta, 9 a.m.

Marzuki to appeal ruling on Djoko

Marzuki to appeal ruling on Djoko JAKARTA (JP): Attorney General Marzuki Darusman said on Friday his office would file an appeal with the Jakarta High Court over the South Jakarta District Court's recent decision to drop the indictment of Djoko S. Tjandra, a suspect in the Rp 546 billion (US$73.7 million) Bank Bali scandal. "There will be no changes to the content of the indictment.

Asian currencies rise across the board

Asian currencies rise across the board HONG KONG (Dow Jones): Asian currencies finished higher across the board Friday, lifted by a stronger yen and by moderately improved sentiment toward individual countries in the region. Market players were uncertain, however, whether all the regionals would be able to sustain the rally into the coming week.