Indonesian Political, Business & Finance News

Archive: 4 July 2000

58 articles found

Unocal gets green award

Unocal gets green award JAKARTA (JP): Oil and gas company Unocal Corporation said its subsidiary Unocal Indonesia had been awarded the government's KALPATARU environmental prize for its reforestation and rehabilitation project in Balikpapan, East Kalimantan.

Ekspos launches news portal

Ekspos launches news portal JAKARTA (JP): PT Ekspos Dot Com, a subsidiary of Lippo Group's internet service provider LinkNet, announced on Monday the launching of its news portal www.ekspos.com.Ekspos' director Legiman Misdiyono said the portal would focus on providing the latest financial and...

PT Makro to expand Indonesian operations

PT Makro to expand Indonesian operations JAKARTA (JP): Netherlands-based chain wholesaler PT Makro Indonesia said on Monday it would expand its operations in the country by opening more new outlets in various areas outside Jakarta.

EGP-Bank Bali cessie contract lawful: Expert

EGP-Bank Bali cessie contract lawful: Expert JAKARTA (JP): A civil law expert said on Monday that a January 1999 cessie contract between factoring firm PT Era Giat Prima (EGP) and Bank Bali was lawful but had been wrongly implemented."I am not arguing the fact that the cessie contract is legal.

Kidnapped German reporter seen in Jolo forest

Kidnapped German reporter seen in Jolo forest JOLO, Philippines (Reuters): A German reporter seized by Philippine Moro rebels holding 20 mostly foreign hostages was seen trekking through a forest with his captors on Monday.

Japan to send advisors

Japan to send advisors TOKYO (Nikkei): The Ministry of Finance will send advisors to Thailand, Indonesia and Vietnam during the current fiscal year to advise them on managing their economies, The Nihon Keizai Shimbun reported in its Monday morning edition, citing ministry sources.

WB economist moves to Tokyo

WB economist moves to Tokyo TOKYO (AFP): The World Bank's chief economist for East Asia, Masahiro Kawai, has moved to Tokyo from Washington to get closer to regional clients, the organisation said Monday.

UI students object to extra school fees

UI students object to extra school fees JAKARTA (JP): Students of the University of Indonesia (UI) demanded on Monday an end to extra school fees which have been charged to cover financial shortages resulting from the economic recession.

Aceh rebels admit attack on police

Aceh rebels admit attack on police BANDA ACEH, Aceh (JP): Free Aceh Movement (GAM) separatist rebels admitted on Monday to having attacked Police Mobile Brigade (Brimob) officers in Nisam district of North Aceh, killing three of them and severely injuring five others.

Police probe Irian guns

Police probe Irian guns JAKARTA (JP): Police said on Monday they were investigating a report that 12,000 guns were smuggled into the easternmost province of Irian Jaya, Antara reported.News reports quoted People's Consultative Assembly Speaker Amien Rais as saying on Saturday that sources told him...

Keep on talking

Keep on talking The much hyped National Dialog Forum in Bali may have come up with plenty of recommendations about what Indonesia should do to overcome its multiple crises, but at the end of the day it was all nothing more than just another talking shop.

IBRA seals $1.22b deal with bank owners

IBRA seals $1.22b deal with bank owners JAKARTA (JP): The owners of 25 banks closed down by the government in 1999 signed an agreement with the Indonesian Bank Restructuring Agency (IBRA) on Monday to surrender assets to repay some US$1.

AG must improve performance

AG must improve performanceFrom KompasThe issuance of a letter of instruction by the Attorney General's Office for the Termination of Investigation (SP3) in the Texmaco case has become a national controversy because of the pros and cons surrounding this matter.

QAF to acquire Salim's stake

QAF to acquire Salim's stake SINGAPORE (AFX-ASIA): QAF Ltd said it has signed a memorandum of understanding with Liem Sioe Liong, Anthony Salim and Andree Halim to acquire a 70 percent stake in Yinfu International Co Ltd and an 89.

Body parts believed to be from same man found in three locations

Body parts believed to be from same man found in three locations JAKARTA (JP): Residents of Grogol subdistrict in West Jakarta found a right leg on Monday, believed to have come from the same male body whose right hand, left leg and the lower abdomen were found in the water at the Manggarai...

Banjarmasin lacks judges

Banjarmasin lacks judges BANJARMASIN, South Kalimantan: The local district court here is seeking five more judges to meet the ideal line-up of 12 required for a I-A class, chief of the court Zaini Syamsu said on Saturday.The I-A class is given to district courts in the provincial capitals.

Ujung Kulon offers jungle trekking and rare rhino census

Ujung Kulon offers jungle trekking and rare rhino censusText and photos by Pandaya UJUNG KULON, West Java (JP): "Tomorrow," Tri Wibowo smilingly told his guests, "you will make history. You will cross Java on foot in only 45 minutes, from the Java Sea down to the Indian Ocean.

Discrepancy in slum project probed

Discrepancy in slum project probed JAKARTA (JP): Commission D of the City Council is looking into reports of irregularities in a Rp 2.6 billion (US$313,300) kampong improvement project in North Jakarta.

Banking expert predicts more mergers in 2000

Banking expert predicts more mergers in 2000 JAKARTA (JP): Mergers, acquisitions and bank liquidations will continue this year, resulting in a healthier and more efficient banking industry, according to an expert.A.

Pedicab ban in line with Sukarno's hope, says Ali

Pedicab ban in line with Sukarno's hope, says Ali JAKARTA (JP): Former governor Ali Sadikin testified on Monday that the banning of becak (pedicabs) in Jakarta was in line with the hope of late president Sukarno that Jakarta would become one of the world's top cities.

Indonesia gets another seat for Olympics' table tennis

Indonesia gets another seat for Olympics' table tennis JAKARTA (JP): Indonesian men's table tennis player Ismu Harinto has joined compatriot Anton Suseno in qualifying for the men's doubles table tennis event at the Olympic Games in Sydney in September.

Indonesia needs to reform its pension system

Indonesia needs to reform its pension systemBy Stanislav Velinov This is the second of two articles on Indonesia's pension system. HONG KONG: While still employed, both employer and employee benefit from tax evasion.

Government simplifies drug registration

Government simplifies drug registration JAKARTA (JP): Indonesians will be able to obtain new drugs in a relatively shorter time now than in the past after the enactment on Monday of a ministerial decree to speed up the registration process.

Rates for tax payment, valid from July 3 to July 9

Rates for tax payment, valid from July 3 to July 9 U.S. dollar 1 Rp 8,660.00Austrian schilling 1 589.38Australian dollar 1 5,165.69Belgian franc 1 201.04Canadian dollar 1 5,839.12Swiss franc 1 5,244.67Deutschemark 1 4,151.09Danish krone 1 1,105.86French franc 1 1,236.37Poundsterling 1 12,964.

BPIS views govt plans to dissolve it as normal

BPIS views govt plans to dissolve it as normal JAKARTA (JP): State-owned holding company PT Bahana Prakarya Industri Strategis (BPIS) said on Monday it did not object to the government's plan to dissolve it, but added its subsidiaries still required coordination.

Conversion Rates

Conversion Rates Bank Indonesia's conversion rates on July 3, 2000: Bank notes rates TT rates Buying Selling Buying Selling Rp Rp Rp Rp U.S. dollar 1 8,330.00 9,330.00 8,786.00 8,874.00Australian dollar 1 4,988.00 5,591.47 5,261.06 5,318.19Austrian schilling 1 577.34 646.98 608.94 615.

Tangerang laments lack of taxes paid to coffer

Tangerang laments lack of taxes paid to coffer TANGERANG (JP): The Tangerang regency administration has received no tax payments at all from the hundreds of companies operating in the area, according to regent Agus Djunara.

U.S. oil giant to open school

U.S. oil giant to open school BANDUNG: Oil giant, PT Caltex Pacific Indonesia plans to open a polytechnics school in Riau's capital Pekanbaru in September as part of its community development service.The company's contract to develop and manage the Coastal Plain Pekanbaru (CPP) oil block will...

Prison guard questioned

Prison guard questioned JAKARTA (JP): A Salemba Prison guard is being questioned by the police for his alleged role in drug trafficking in the crowded penitentiary in Central Jakarta, an official said on Monday.

Brawl leaves 11 injured

Brawl leaves 11 injured CILACAP, Central Java: At least 11 people were seriously injured and 14 houses destroyed when about 1000 villagers from Karangsari and Karengkeniri subdistricts were involved in mass brawls, Banyumas police chief Superintendent Carel Risakotta disclosed on Monday.

Gus Dur's claim could backfire, observers say

Gus Dur's claim could backfire, observers say JAKARTA (JP): President Abdurrahman Wahid's claim that many of Indonesia's violent conflicts could be traced to members of the House of Representatives or the People's Consultative Assembly (MPR) could backfire and cost him political support, observers...

Bandung ITB holds art festival

Bandung ITB holds art festival BANDUNG (JP): Several types of traditional art, along with modern and contemporary art, will be highlighted at the Bandung Technology Institute's (ITB) Pasar Seni (art festival) 2000.

20 nations compete in Indonesia Open

20 nations compete in Indonesia Open JAKARTA (JP): Twenty countries, including China and South Korea, have confirmed their participation in the Sanyo Indonesia Open Badminton Championships to be held this month.

Police to introduce brand-new insignia

Police to introduce brand-new insignia JAKARTA (JP): Just three days after introducing the use of new rank terminology, the National Police announced on Monday their plan to change the corps insignia starting from January 2001.Head of general information unit at the National Police Headquarters, Sr.

Police personnel being trained for presidential guard

Police personnel being trained for presidential guard JAKARTA (JP): The National Police announced on Monday that some 200 police personnel had been undergoing training since last month to become members of the newly established presidential security guard.Sr. Supt.

145 companies placed on development board: JSX

145 companies placed on development board: JSX JAKARTA (JP): The Jakarta Stock Exchange (JSX) placed on Monday 145 listed companies, including major player Astra International, on the second-class development board after they failed to meet tougher new conditions required to be on the main board.

Stock Exchange

Stock ExchangeStock prices on the Jakarta Stock Exchange (in rupiah) on July 3, 2000: Shares Close Change Trading Volume ------------------------------------------------------------ Ades Alfindo 675 0 0 Adindo Foresta Indonesia 325 0 6,830,000 Alakasa Industrindo 550 -100 1,500 Alfa Retailindo 890...

Questioning legislators

Questioning legislators There is actually nothing strange in the possibility that several members of the People's Consultative Assembly and House of Representatives will face questioning. In the eyes of the law, all people, without regard to who the person is, are equal before the law.

Hopes dim for ship passengers to survive

Hopes dim for ship passengers to survive JAKARTA (JP): Hopes dim for the survival of 480 passengers of the missing Cahaya Bahari ferry although the search has been extended to one more week, a rescue official said on Monday.

Party backing Anwar fights for survival

Party backing Anwar fights for survivalBy Nelson Graves KUALA LUMPUR (Reuters): Malaysia's Parti Keadilan Nasional, the standard-bearer of jailed former finance minister Anwar Ibrahim, is reeling from dissent a year after its creation.

Bank Panin ups reserves

Bank Panin ups reserves JAKARTA (JP): Publicly listed Bank Panin reported a pretax and reserves profit of Rp 489 billion (US$56.86 million) in 1999, but will not pay a dividend.The management said at a recent shareholders meeting it had to increase the bank's reserves for productive assets by Rp...

Mufflers from Purbalingga go national

Mufflers from Purbalingga go nationalBy Agus Maryono PURBALINGGA, Central Java (JP): Pesayangan, a hamlet in Purbalingga Lor village, Purbalingga subdistrict, Purbalingga regency, is well-known among the Banyumas people as an automobile exhaust pipe and muffler production center.

Newmont resumes operation as dispute with locals ends

Newmont resumes operation as dispute with locals ends JAKARTA (JP): Gold mining company PT Newmont Minahasa Raya said on Monday it had resumed operation, after local residents in a land dispute ended a week-long protest that blocked the company's mining site at the Ratatotok village in North...

Ancol programs during holidays

Ancol programs during holidays JAKARTA (JP): Marine recreational resort Ancol Dreamland in North Jakarta is offering special programs for students during the current school holidays, an official said on Monday.

TV today

TV todayTVRI 5:30 a.m. Religious Teachings 6:00 News 8:00 Children's Songs 8:30 Music 9:00 Sports 2:00 p.m. News 2:30 Children's Performance 3:00 Documentary 3:30 Music 4:00 Regional News 4:30 Job Opportunities 5:30 News (in English) 6:00 Sports 6:30 Music 7:00 Evening News 7:30 TV Drama 8:00...

RI boxer dies after coma

RI boxer dies after coma JAKARTA (AFP): An Indonesian boxer has died after being in a coma for 16 days, hospital staff here said Monday.Dipo Saloko, 30, Indonesia's fourth-ranked Flyweight, died in the intensive care unit of the Indonesian Christian University hospital here on Sunday, a hospital...

One killed in toll road mishap

One killed in toll road mishap BOGOR (JP): Three trucks collided on the Jagorawi toll road in Kampung Rambutan, East Jakarta, on Monday, killing one and severely injuring another.The deceased was identified as 22-year-old Uci bin Suhandi, the assistant of the driver of a tank truck, while Zainal...

Falling rupiah, peso lead slide in regional markets

Falling rupiah, peso lead slide in regional markets SINGAPORE (Dow Jones): Investors expressed a general distaste for Asian currencies Monday, with the Indonesian rupiah and Philippine peso bearing the brunt of the selloff.

NOL seeks to invest in ports

NOL seeks to invest in ports SINGAPORE (Dow Jones): Neptune Orient Lines Ltd. is on the lookout to invest in ports where it is economically viable, even after its unit withdrew a bid for a stake in Indonesia's Koja port, Chief Executive Flemming Jacobs said Monday.

Indosat to focus on mobile telecoms sector

Indosat to focus on mobile telecoms sector JAKARTA (JP): Publicly listed international telephone operator PT Indosat plans to concentrate its future business on the mobile telecommunications sector, a company executive said on Monday.

Where to go in Bandung:

Where to go in Bandung:Exhibition* Arts Exhibition: Point de vue, images du monde, by Renaud Auguste-Dormeuil, at the Fine Arts Gallery, West Java Cultural Center in Dago, 12 p.m. to 6 p.m., until July 15.Performance* Piano Recital by Ananda Sukarlan, at CCF - French Cultural Center, Jl.

Presidential relations with the DPR

Presidential relations with the DPR The following article is based on a presentation given by Donald L. Horowitz at a seminar on amending the 1945 Constitution. The seminar, held recently in Jakarta, was organized by the University of Indonesia.

Govt may impose press restrictions in troubled Maluku

Govt may impose press restrictions in troubled Maluku JAKARTA (JP): The government urged on Monday for restriction of the press in Ambon after days of violence despite the civilian emergency status imposed there.

ASEAN ministers vow to speed up ambitious energy grid plans

ASEAN ministers vow to speed up ambitious energy grid plans HANOI (AFP): Energy ministers of the Association of Southeast Asian Nations Monday vowed to speed up ambitious plans for a regional power and gas grid to boost energy security in the face of continued volatility on world oil markets.

Banser to be brought in line: Ansor chief

Banser to be brought in line: Ansor chief BOYOLALI, Central Java (JP): The recently reelected chairman of the Ansor Youth Movement, Syaifulloh Yusuf, has vowed to bring in line its security volunteers group Banser, which is controlled by the movement.

Three arrested over counterfeit

Three arrested over counterfeit SEMARANG: Three men have been arrested for allegedly producing and distributing fake rupiah notes in Wonosobo regency, thanks to local residents' tip-off, Central Java spokesman Superintendent M. Ramlie said on Monday.

Confusion reins over arrest plan

Confusion reins over arrest plan JAKARTA (JP): President Abdurrahman Wahid and a top aide gave conflicting statements on Monday about the move to arrest or question legislators believed to have been responsible for many of Indonesia's current political troubles.

Last minute appeal from Denpasar

Last minute appeal from Denpasar If the purpose of the appeal from Denpasar, Bali, by the cream of the country's intellectuals and influential elite that the nation return to the reform track was to attract the media's attention and be widely spread among the population, the objective has been more...