Indonesian Political, Business & Finance News

Archive: 29 August 2000

59 articles found

Responsibility of new Cabinet

Responsibility of new Cabinet From Suara Karya Irrespective of the positive and negative aspects of the new Cabinet, the long-awaited solution to a puzzle has finally come out. In fact, ordinary people do not care who is included in the Cabinet. Their only concern is that they can enjoy security and prosperity. So, those making a commotion about this matter must be people who failed to get enlisted into the Cabinet and, owing to their fat pockets, were able to entice certain groups into action.

Opposition official to go on trial

Opposition official to go on trial KUALA LUMPUR (AFP): A Malaysian opposition party official went on trial Monday for leaking secret reports of Anti-Corruption Agency (ACA) investigations into two leading ruling party figures. Mohamad Ezam Mohamad Noor is accused of possessing "classified documents pertaining to the ACA investigation" into Minister of International Trade and Industry Rafidah Aziz and former Malacca state chief minister Rahim Tamby Chik.

Plantations illegally occupied

Plantations illegally occupied SEMARANG: As many as 995 hectares of plantation land belonging to the state have been illegally occupied by residents within the last year, an official said. "These illegal occupations have inflicted a total loss of Rp 6 billion on the state," Nazaruddin Thoha the head of the Central Java Plantations Office said here on Monday.

Kwik vows to continue fight against 'black' conglomerates

Kwik vows to continue fight against 'black' conglomerates JAKARTA (JP): Former chief economics minister Kwik Kian Gie vowed on Monday to continue the battle against "black" conglomerates. Kwik said he would return to the House of Representatives (DPR) as a member of the Indonesian Democratic Party of Struggle (PDI Perjuangan) to strike back at the so called black conglomerates and fight on behalf of the poor who had long been sidelined and oppressed.

Shelters being built for Maluku refugees

Shelters being built for Maluku refugees AMBON, Maluku (JP): The province is currently sheltering some 280,000 refugees who have fled the 19-months of violence in the area. "This massive amount of refugees needs immediate care and we are hoping to help them go back to their own villages instead of moving them someplace else," the deputy chief of the Maluku Natural Disaster Coordinating Unit, John Looy, said on Monday.

C. Java to build F1 circuit

C. Java to build F1 circuit SEMARANG (JP): After Bali, Central Java has become the second Indonesian province to bid to host a Formula One world championship race. Head of the Central Java Tourism Office Henky Hermantoro told reporters on Monday that the construction of an international circuit which is eligible to host F-1 races was aimed at increasing the number of foreign tourists visiting the province.

All the President's money

All the President's money By Donna K. Woodward MEDAN, North Sumatra: Serious ethical questions have arisen about President Abdurrahman Wahid's ideas on fund raising, as illustrated by the Bulog scandal and Bruneigate. Although the President and the foreign minister may be men of integrity on a personal level, they have a blind spot when it comes to believing they have the right to use their positions to raise funds secretly to support a favorite cause, however worthwhile that cause might seem.

Rizal promises a quick decision-making process

Rizal promises a quick decision-making process JAKARTA (JP): Coordinating Minister for Economic Affairs Rizal Ramli vowed on Monday to adopt procedures to facilitate efficient decision making in a bid to accelerate the country's economic recovery. Rizal said that swift action was crucial for the government and the Indonesian Bank Restructuring Agency (IBRA) to achieve the proceeds target for this year. "We should accelerate the (decision making) process to achieve the (IBRA) target.

Conversion Rates

Conversion Rates Bank Indonesia's conversion rates on Aug. 28, 2000: Bank notes rates TT rates Buying Selling Buying Selling Rp Rp Rp Rp U.S.

Susilo vows to comply with July 27 inquiry

Susilo vows to comply with July 27 inquiry JAKARTA (JP): One of the senior military officers to be questioned in connection with the July 27, 1996, attack on the Indonesian Democratic Party (PDI) headquarters, Lt. Gen. (ret) Susilo Bambang Yudhoyono, said on Monday he would comply with the ongoing case. But Susilo, who was Jakarta Military chief of staff at the time of the incident, said the attack was not the work of disobedient military personnel. "We can see that the case is very complicated.

C. Java noodle makers use toxic bleaching substances

C. Java noodle makers use toxic bleaching substances By Prabandari KLATEN, Central Java (JP): Manjung village, about 30 kilometers east of Yogyakarta, has long been famous as a producer of high quality white noodles, locally called soun. The business has always been a lucrative, providing employment to many locals. But environmentalists warn that the toxic byproducts from the business is polluting the environment.

Low military morale behind clashes in regions: Megawati

Low military morale behind clashes in regions: Megawati JAKARTA (JP): Vice President Megawati Soekarnoputri said on Monday the roots of sectarian clashes in the outlying provinces were not religious or ethnic differences, but the ongoing economic crisis and the low morale of security forces. Speaking at the opening of a national dialog of religious leaders, Megawati said the low morale of soldiers might have been exploited by certain parties to create unrest.

KPR housing loan

KPR housing loan I have a KPR home loan from one of the liquidated banks. Until July 2000, I always paid my KPR installments to the Indonesian Bank Restructuring Agency (IBRA) either through Bank Dagang Negara, in the early days of liquidation, and later through Bank Central Asia.

Chinese dance troupe toasts joys of spring

Chinese dance troupe toasts joys of spring By Mehru Jaffer JAKARTA (JP): Nine nymphs from the Chinese province of Heilongjiang celebrated the joys of springtime with much song and dance last weekend here in Jakarta.

Do Wahid's wiles serve Indonesia?

Do Wahid's wiles serve Indonesia? The Indonesian president has a reputation for being an astute political strategist. But after last week's cabinet reshuffle in which he cut the number of ministers from 35 to 26 and installed mainly only those who are loyal to him, critics within Indonesia and abroad are wondering if this time he might finally have gone too far. Amid howls from parliamentarians for him to either step down or hand over the reins to (Vice President). Megawati, Mr.

Asian currencies mostly up late on rupiah, yen gains

Asian currencies mostly up late on rupiah, yen gains SINGAPORE (Dow Jones): The Japanese yen's vigor and the Indonesian rupiah's rebound lifted most Asian currencies late Monday, dealers said. The market's relief over the smooth inauguration of Indonesia's new cabinet during the weekend was, however, tinged with caution, preventing the Indonesian currency from strengthening beyond Rp 8,200 to the dollar. Investors remain nervous over President Abdurrahman Wahid's political fate.

Sierad Group to submit merger plan to Bapepam

Sierad Group to submit merger plan to Bapepam JAKARTA (JP): Sierad Group would submit a merger plan for its publicly listed subsidiaries PT Anwar Sierad and PT Sierad Produce to the Capital Market Supervisory Agency (Bapepam) next month as part of the group's debt restructuring deal. "If Bapepam has no questions or comments within 20 days after receiving our proposal, we can go ahead with the merger," Anwar Sierad's corporate secretary F.X.

Malaysia's economic policy questioned

Malaysia's economic policy questioned By Sabyasachi Mitra KUALA LUMPUR (Reuters): Malaysia's short-term growth prospects are glowing now, but some analysts worry it may lag behind competing Asian economies in the long term unless it pursues deeper, more painful microeconomic reforms. Investors are being put off by a fixed ringgit exchange rate, slow corporate reforms, stalled privatisations and perceived cronyism, the analysts say.

UI students boycott classes over extra fee

UI students boycott classes over extra fee JAKARTA (JP): Thousands of students from the University of Indonesia (UI) marked the first school day after a 10-week holiday with a class boycott on Monday, following the university's refusal to meet their demands to call off a policy on an extra school fee.

An ax-wielding robber shot dead

An ax-wielding robber shot dead JAKARTA (JP): Police shot dead on Monday a member of an ax- wielding gang, who preyed on motorists for their valuables, on Jl. Jembatan Batu, Pinangsia subdistrict in West Jakarta, an officer said. City Police spokesman Supt. Muhammad Nur H. Usman said the suspect, who has yet to be identified, was shot dead at 11:45 a.m. as he attempted to rob a man, identified as Laksamana Muljadi.

Stock Exchange

Stock Exchange Stock prices on the Jakarta Stock Exchange (in rupiah) on Aug. 28, 2000: Shares Close Change Trading Volume ------------------------------------------------------------- Ades Alfindo 650 0 4,000 Adindo Foresta Indonesia 280 -15 762,500 Alakasa Industrindo 815 0 0 Alfa Retailindo 885 5 22,500 Alter Abadi 265 0 0 Alumindo Light Metal 1,070 0 0 Aneka Kimia Raya 320 5 33,500 Aneka Tambang (Persero) 1,150 -20 410,500 Anwar Sierad 300 0 0 APAC Centertex Corp.

JSX withdraws threat to PT Semen Cibinong

JSX withdraws threat to PT Semen Cibinong JAKARTA (JP): The Jakarta Stock Exchange (JSX) withdrew on Monday its threat to suspend cement producer PT Semen Cibinong from trading, after the company submitted explanations on the whereabouts of the missing US$250 million in deposits. JSX president Mas Achmad Daniri said that with Semen Cibinong's written explanation, the exchange would not proceed with its plan to suspend the company.

Report on Gus Dur 'character assassination'

Report on Gus Dur 'character assassination' JAKARTA (JP): Friends and relatives of President Abdurrahman "Gus Dur" Wahid shrugged off reports that he had an extramarital affair with a housewife five years ago, saying it was a cheap smear campaign to debunk the President. Salahuddin Wahid, the President's brother, described the reports as a character assassination. "This is definitely an effort to tarnish Gus Dur's public image.

Orangutan seller busted at hotel

Orangutan seller busted at hotel JAKARTA (JP): City police detectives arrested on Monday evening bird seller Wiyadi in a parking lot at Hotel Sheraton Bandara in Tangerang for selling a protected animal -- orangutan (Pongo Pygmaeus), an officer said on Monday. "The suspect violated Article 21 of the 1990 Law on Natural Resources and Ecosystem Conservation, which prohibits buying or selling protected animals," chief of City Police's criminal investigation for special crimes Supt.

Two dead in Aceh shooting

Two dead in Aceh shooting BANDA ACEH, Aceh: Two refugees were killed and at least six others, including two policemen, injured when security forces and alleged rebels exchanged fire at a refugee camp in Jabo Dalem, Pintu Rimba village, Trumon, South Aceh. The gunfight erupted on Sunday afternoon after a group of gunmen ambushed a joint patrol made up of police and military personnel which was passing through Pintu Rimba village. "Two Mobile Brigade (Brimob) officers, Sgt. Maj.

Government eyes efficiency in sports development

Government eyes efficiency in sports development JAKARTA (JP): President Abdurrahman Wahid defended on Monday the dissolution of the office of the state minister of sports and youth affairs, noting the government was seeking efficiency in sports development.

Pulp producers deny charge on illegal logging

Pulp producers deny charge on illegal logging JAKARTA (JP): Pulp and paper producers denied on Monday accusations that they have encouraged illegal logging practices in the country. Chairman of the Association of Indonesian Pulp and Paper Producers (APKI) Muhammad Mansur said that the charge was groundless. "Illegal loggers do not sell to us. Illegal logs are good logs and too expensive (for us).

Age doesn't affect my form, Singh says

Age doesn't affect my form, Singh says JAKARTA (JP): Age does not matter in sports achievement, as 38-year-old shot-putter Shakti Singh of India proved with a new meet record-breaking win on the opening day of the Asian Track and Field Championships on Monday. "Well, I feel I'm still very young. You see that I performed better than the youngsters. Age doesn't affect my performance as long as I can maintain my physical fitness.

One man killed in PDI-P clamor

One man killed in PDI-P clamor DENPASAR, Bali: One person was killed and five others were injured on Monday when hundreds of Indonesian Democratic Party of Struggle (PDI-P) supporters ran amok to disrupt the planned swearing-in ceremony of the new Jembrana regent. Bali Governor Dewa Made Beratha confirmed the death of I Gusti Ngurah Sena, and decided to cancel the ceremony.

Indonesia, Iraq lead Independence Cup first day

Indonesia, Iraq lead Independence Cup first day JAKARTA (JP): Indonesia and Iraq got off to a flying start in the Independence Cup soccer tournament at the Senayan Stadium here on Monday with a convincing win each. The host defied persistent challenges from Myanmar to win 4-1 in the second match of the day, while the Iraqis, who are mostly junior players, overpowered China Taipei 3-0 in the opening match.

Djoko freed from all charges

Djoko freed from all charges JAKARTA (JP): South Jakarta District Court on Monday exonerated chief defendant Djoko S. Tjandra of all charges in the Rp 546 billion (US$64.2 million) Bank Bali scandal on a legal technicality and the prosecutor's failure to back his arguments up with testimony by witnesses.

A fair trial for Soeharto

A fair trial for Soeharto In just a few days time, barring unforeseen developments, the trial of former president Soeharto over charges of corruption is slated to begin. Officials have been hard at work over the past few days to make sure that everything will be in place for what will certainly be a major political event, the implications of which are difficult to foretell.

Soeharto trial may end up as a show of compromise

Soeharto trial may end up as a show of compromise Amid plans to start the trial of former president Soeharto on charges of corruption, justice may remain elusive, warns Kusnanto Anggoro, a senior researcher at the Centre for Strategic and International Studies, and a lecturer in the postgraduate studies department of the University of Indonesia in Jakarta. JAKARTA (JP): Dealing with past violations of human rights and abuses of power often take center stage in postauthoritarian regimes.

ASEAN raises its currency swap deal to US$1 billion

ASEAN raises its currency swap deal to US$1 billion KUALA LUMPUR (Reuters): Southeast Asian nations have agreed to increase a two-tier currency swap scheme supporting economies facing balance of payments problems to US$1 billion from $200 million, central bank officials said on Monday.

President's journey disrupted by 'rapist'

President's journey disrupted by 'rapist' JAKARTA (JP): President Abdurrahman Wahid's motorcade was disrupted on Monday by the arrest of Nano bin Sumarno, who allegedly attempted to rape a woman in a police post on Jl. Sudirman in South Jakarta. The arrest occurred on Jl. Sudirman precisely as the President's motorcade was passing along the city's main thoroughfare. The incident began when police officer First. Sgt.

Supriati wins RI first gold, India's Singh makes new record

Supriati wins RI first gold, India's Singh makes new record JAKARTA (JP): Indonesian women's long-distance runner Supriati Sutono presented the first gold medal ever to the host country in the Asian Track and Field Championships on Monday. But it was Indian Shakti Singh who took center stage on the opening day as he set a new record in the men's shot put en route to victory. In the medals tally, India leads with two golds followed by Indonesia, China, Qatar and Kazakhstan with one gold each.

Indofood reports lower income

Indofood reports lower income JAKARTA (JP): Local noodle giant PT Indofood Sukses Makmur reported on Monday its consolidated net profit dropped 65 percent to Rp 286.5 billion (US$35.8 million) in the first semester this year from Rp 819.3 billion in the same period last year. The publicly listed company attributed the decline partly to huge foreign exchange losses of Rp 616.6 billion.

New subscription cost

New subscription cost I am surprised to find out that The Jakarta Post has increased its monthly subscription price from Rp 33,000 in June 2000 to 45,000 in July 2000 without any notice to its customers. The increase is quite high, Rp 12,000, or about 36 percent from the previous price.

German companies urged to use S'pore as springboard for Asia

German companies urged to use S'pore as springboard for Asia SINGAPORE (DPA): German companies venturing into the Asian market for the first time were urged on Monday to tap Singapore's position as a springboard for foreign ventures seeking to do business in the region.

Tanjung Priok Port strike ends, situation returns to normal

Tanjung Priok Port strike ends, situation returns to normal JAKARTA (JP): Activities at the Tanjung Priok harbor in North Jakarta have returned to normal since Saturday after an agreement was reached between the management of the terminal and workers. The workers of the Jakarta International Container Terminal (JICT), who went on a one-day strike Friday, were demanding that the management cancel the planned transfer of nine of their colleagues, who were union activists.

Four firms to issue timber ecolabeling

Four firms to issue timber ecolabeling JAKARTA (JP): Four standard certification service companies won the right to issue ecolabeling for timber companies on Monday from the Indonesian Ecolabeling Foundation (LEI).

Anwar expects RI economy to grow by 4 to 5% in 2001

Anwar expects RI economy to grow by 4 to 5% in 2001 KUALA LUMPUR (Reuters): Indonesia's acting central bank governor expects the economy to expand by 4 to 5 percent in 2001, lower than the 6 to 7 percent growth rate projected by the new chief economics minister.

Rerouted traffic in Kota

Rerouted traffic in Kota JAKARTA (JP): In an attempt to reduce traffic jams in the downtown Kota area of West Jakarta, the City Traffic and Land Transportation Agency will change the traffic arrangements at the intersection near Kota railway station in early September, an official said on Monday. Kota railway intersection consists of Jl. Asemka in the west, Jl. Pintu Besar Utara in the north, Jl. Pintu Besar Selatan in the south, and Jl. Jembatan Batu in the east. "Motorists from Jl.

Rates for tax payment, valid from Aug. 28 to Sept. 3

Rates for tax payment, valid from Aug. 28 to Sept. 3 U.S. dollar 1 Rp 8,125.00 Austrian schilling 1 529.59 Australian dollar 1 4,639.38 Belgian franc 1 180.65 Canadian dollar 1 5,464.02 Swiss franc 1 4,673.03 Deutschemark 1 3,727.58 Danish krone 1 974.35 French franc 1 1,110.94 Poundsterling 1 12,024.19 Hong Kong dollar 1 1,041.73 Italian lira 100 376.35 Japanese yen 100 7,477.45 Malaysian ringgit 1 2,138.21 Dutch guilder 1 3,306.84 New Zealand dollar 1 3,504.31 Norwegian krone 1 902.09 Swedish...

Susilo: Govt to pay special attention to Soeharto's trial

Susilo: Govt to pay special attention to Soeharto's trial JAKARTA (JP): Coordinating Minister for Political, Social and Security Affairs Susilo Bambang Yudhoyono said on Monday that the government would pay special attention to the trial of former president Soeharto on corruption charges to prevent any negative consequences at the venue.

Paternity leave for civil servants

Paternity leave for civil servants SINGAPORE (AP): Fathers employed in the civil service will now get three days' paternity for each of their first three children as part of government efforts to encourage Singaporeans to have more babies. "This in itself will encourage Singaporean women to have more children," Prime Minister Goh Chok Tong said at a National Day dinner late Sunday. National Day was Aug. 9.

Where to go in Bandung:

Where to go in Bandung: Exhibitions * Painting Exhibition by Pranata Gallery at the Lobby of Grand Hotel Preanger Bandung, Jl. Asia Afrika No. 81 (Phone: 022 431631), 9 a.m. to 9 p.m., until Aug. 31. Film * Cannes Film Screening at CCF - French Cultural Center, Jl. Purnawarman 32 (Phone 4212417), 2 p.m., 6:30 p.m.: La Haine, Aug. 29. Underground, Aug. 31. Music and Entertainment * Sheraton Bandung Hotel and Towers, Jl. Ir. H. Juanda No. 390 (Phone: 022 2500303): - SOB Fun Pub, at 9 p.m.

Complacency could end Asian recovery

Complacency could end Asian recovery CANBERRA (AFP): Asia's extraordinary recovery from financial crisis will not be sustained if complacency destroys economic, political and corporate restructuring, the head of the Asian Development Bank (ADB) warned here Monday. But ADB President Tadao Chino also said recent slumps on Asian share markets did not mean the region was heading for a second economic crisis.

House set to probe scandals

House set to probe scandals JAKARTA (JP): The House of Representatives voted overwhelmingly on Monday to launch an inquiry into two scandals -- Bulog-gate and Brunei-gate -- which many believe could implicate President Abdurrahman Wahid. A second motion, to launch an inquiry into the finances of the State Logistics Agency (Bulog), however, was defeated.

Subsidiary bankers of BI named suspects

Subsidiary bankers of BI named suspects JAKARTA (JP): The Attorney General's Office named on Monday two foreign based bankers suspects for causing a loss of US$1 billion to Bank Indonesia by violating the bank's prudential principal in extending credit. Spokesman Yushar Yahya claimed that the two were responsible for financing creditors through two subsidiaries of Bank Indonesia, namely Amsterdam-based N.V. Indover Bank and the latter's affiliated Hong Kong-based Indover Asia Ltd.

TV today

TV today TVRI 5:00 a.m. Religious Teachings 6:00 News 8:00 Children's Songs 8:30 Music 9:00 Interval 12:00 p.m. Interval 2:00 Children's Show 3:30 Music 4:00 News 4:30 Talk Show 5:30 News (in English) 6:00 Sports 6:30 Music 7:00 Evening News 7:30 TV Drama 8:00 Sports 9:00 News 9:30 TV Drama 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 TPI 5:30 a.m. Religious Teachings 6:00 News 7:00 Music and Information 7:30 Music 9:00 Indian Film 12:00 p.m.

Bakrie's stake in Bakrie & Brothers to shrink to 2.5%

Bakrie's stake in Bakrie & Brothers to shrink to 2.5% JAKARTA (JP): The Bakrie family will see their ownership in the widely diversified Bakrie & Brothers to decline to 2.5 percent from 55 percent at present once the company's debt restructuring program is completed.

Court dismisses Sjahril's lawsuit against Marzuki

Court dismisses Sjahril's lawsuit against Marzuki JAKARTA (JP): The South Jakarta District Court dismissed on Monday the lawsuit filed by inactive Bank Indonesia governor Sjahril Sabirin against Attorney General Marzuki Darusman for wrongful detention. "The court feels all the steps the attorney general took to ensure a smooth investigation into the Bank Bali scandal were correct. This includes the arrest of the plaintiff," presiding judge Rusmandani said during the court hearing.

RI asked to up crude output

RI asked to up crude output CANBERRA (Dow Jones): Australia's trade minister, Mark Vaile, said he used a meeting Monday with Indonesian President Abdurrahman Wahid to urge Indonesia and other members of the Organization of Petroleum Exporting Countries to lift crude output to reduce high oil prices. "The key to more sustainable prices lies in an early decision by OPEC to increase output," Vaile said in a statement.

Asia palm oil plays waiting game over tax

Asia palm oil plays waiting game over tax KUALA LUMPUR (Reuters): Malaysia is likely to include the four firms allowed last year to export crude palm oil duty-free in this year's concession, while Indonesia may cut the CPO tax to five percent from 10 percent soon, traders said Monday. Last year, the government authorized plantation house Felda, Kuala Lumpur Kepong Bhd, Golden Hope Plantations Bhd and Kuok Oils and Grains to export CPO without duty in order to help reduce stocks.

Private firms wanted to care for parks

Private firms wanted to care for parks JAKARTA (JP): The City Parks Agency said on Monday that local private firms were invited to maintain parks in the city and could use them to promote their image. "I have secured permission from Governor Sutiyoso to offer and introduce the idea to local private companies," head of the agency Dadang Ruskandar told reporters at City Hall.

Talks drag as E. Timor refugees languish in camps

Talks drag as E. Timor refugees languish in camps DILI (Reuters): Indonesia's province of West Timor remains too dangerous for United Nations staff to resume aid to 100,000 East Timorese refugees languishing there in camps, UN officials said on Monday. Joseph Yeo, an official with the United Nations High Commissioner for Refugees (UNHCR) in Dili, said talks with Indonesian authorities had so far failed to produce any guarantee of safety for aid workers.

Kwik responds to criticism

Kwik responds to criticism On Aug. 26, 2000, The Jakarta Post ran an interview with Tony Prasetyantono titled New Cabinet a wasted opportunity for Gus Dur. In the interview, he made some statements which are wrong. There is not one member in the Cabinet who is a member of the Indonesian Democratic Party of Struggle (PDI Perjuangan). Bungaran Saragih is not a member of the party. He once gave a lecture on the development of PDI Perjuangan.

Two wanted for blast at Embassy of Malaysia

Two wanted for blast at Embassy of Malaysia JAKARTA (JP): Police detectives are looking for two men in connection with a bomb explosion on Sunday night in the parking lot of the Malaysian Embassy in Kuningan, South Jakarta. The chief of Jakarta Police Criminal Investigation Sr. Supt. Harry Montolalu said on Monday that the search for the two men was based on testimony given by a transvestite prostitute, who was near the embassy when the blast took place at around 10 p.m.