Indonesian Political, Business & Finance News

Archive: 22 September 2000

55 articles found

Jafco offers $2m for IT firms

Jafco offers $2m for IT firms JAKARTA (JP): Jafco investment of Asia Pacific (JafcoAsia), a Japanese venture capital company, is offering a total of US$2 million in seed capital for local small and medium enterprises in the information technology (IT) industry. The Singapore-based company launched on Thursday its e- Incubator Program in cooperation with PT IBM Indonesia, which will provide the expertise and technology.

More W. Java people to work abroad

More W. Java people to work abroad BANDUNG: The number of West Java residents working abroad will probably increase this year, judging from the growing number of people applying for passports to work overseas. The head of the local immigration office in Bandung, Riawan Pramudjo, said on Thursday that until August this year as many as 1,139 job seekers had applied for passports to work in neighboring countries.

Cohen should be much wiser

Cohen should be much wiser Many if not most Indonesians would agree with William Cohen's stern message to the Indonesian government to disarm the pro- Indonesia militia. However, it is evident that the way he conveyed it has sparked responses that may be counterproductive to the efforts to bring about democratization in this country.

Abdurrahman's options

Abdurrahman's options Hardly a day seems to pass these days without President Abdurrahman Wahid getting himself embroiled in one controversy or another with either the House of Representatives (DPR) or the People's Consultative Assembly (MPR). The latest spat concerns the rather sudden dismissal, by the President, of the chief of the National Police, Gen. Rusdihardjo, on Monday.

Fitch reaffirms RI's long-term forex rating at B-minus

Fitch reaffirms RI's long-term forex rating at B-minus JAKARTA (Dow Jones): Ratings agency Fitch IBCA Ltd. said Thursday it had affirmed Indonesia's long-term foreign currency rating at single-B-minus with a stable outlook. The foreign currency rating applies to all senior, unsecured sovereign foreign currency debt issues and sets a ceiling for all other Fitch rated entities in Indonesia.

Maan maintains lead, Ilyassak closes in

Maan maintains lead, Ilyassak closes in TANGERANG, West Java (JP): Fighting off a stubborn cold, Maan Nasim came closer on Thursday to winning the Rp 27 million top prize at the Andersen Consulting Challenge golf tournament at the Bumi Serpong Damai course. Belting triple birdies at holes four, five, and six when he went out, and another at hole 14 on his way back to the club house, Maan carded four-under par 68 to perch firmly at the top with a total 11-under par 205.

Mahathir blasts Western media

Mahathir blasts Western media KUALA LUMPUR (DPA): Malaysian Prime Minister Mahathir Mohamad on Thursday blasted the foreign media as "racist" and "arrogant" know-it-alls who should learn how to be humble and fair in their reporting. He said he regretted that the foreign media's reporting on Malaysia was so negative, and hoped the journalists would "reform" themselves.

Two ex-soldiers jailed for counterfeiting

Two ex-soldiers jailed for counterfeiting JAKARTA (JP): Two former servicemen, Ismail Putra and Eddy Kereh, were sentenced on Thursday to seven years and four years in jail respectively, for their roles in producing Rp 19.2 billion (US$2.2 million) in counterfeit money.

APEC wants quick implementation of Asia Gas Grid

APEC wants quick implementation of Asia Gas Grid JAKARTA (JP): The Asia Pacific Economic Cooperation's (APEC) Partnership for Equitable Growth (PEG) and the Indonesian Chamber of Commerce and Industry (Kadin) have called on Asian countries, especially China and Indonesia, to realize the plan of developing a gas pipeline network connecting all Asian countries.

Asia's appetite for natural gas growing fast

Asia's appetite for natural gas growing fast BANGKOK (Reuters): As global crude prices keep rising, Asian oil consuming nations are turning to less expensive and environmentally cleaner natural gas. Across Asia from Australia to Japan and India, power producers, which are major users of natural gas, are expected to increase gas consumption relative to other fuel sources as they come under pressure to cut pollutant emissions.

Dutch firm appeals ship's seizure

Dutch firm appeals ship's seizure JAKARTA (JP): A Dutch firm has appealed to the Riau High Court over a July 2000 verdict by Batam District Court that endorsed the seizure of one of its ships and punished its captain for sand smuggling. Noted lawyer Adnan Buyung Nasution, who is representing the company, Ballast Nedam Far East Pte. Ltd., said in a statement on Thursday that the firm appealed to the High Court on Tuesday, asking it to annul the district court's decision.

Jl. Jatibaru closed to traffic

Jl. Jatibaru closed to traffic JAKARTA (JP): Due to the construction work in progress, Jl.Kebon Jati in the busy Tanah Abang area in Central Jakarta would be closed to traffic for about three months starting from Thursday. City Land Transportation Agency head Buyung Atang said on Thursday that the closure would be effective until Dec. 15. All traffic, including city buses and taxis, heading to the area would be redirected. Motorists traveling on Jl.

Train commuters ran amok over delay

Train commuters ran amok over delay JAKARTA (JP): Upset over a delay, some 100 passengers on a Bekasi-Kota electric train ran amok at the Jatinegara train station in East Jakarta on Thursday morning. There were no injuries in the incident, but the mob destroyed doors, windows and equipment in the office of state railway firm PT Kereta Api Indonesia (KAI) and a waiting room in the station. The violence at the station caused many other passengers waiting for trains to flee the platforms.

Prosecutor files appeal against Djoko verdict

Prosecutor files appeal against Djoko verdict JAKARTA (JP): Prosecutors here on Thursday formally submitted appeal notes against the recent verdict which exonerated Djoko S. Tjandra from the Rp 546 billion (US$65 million) Bank Bali scandal. Prosecutor Antasari Azhar in the appeal notes claimed that Djoko's alleged role was a criminal one despite the fact that his involvement in the loan scandal was possibly a civil matter.

Indonesia won't start coffee retention in October: Luhut

Indonesia won't start coffee retention in October: Luhut JAKARTA (Reuters): Indonesia will not be able to start holding back coffee stock on Oct. 1 as part of a global plan to lift prices, because it is still seeking money to finance the scheme, Trade and Industry Minister Luhut Pandjaitan said on Thursday. "There's no way we will be able to implement the retention plan in October," Luhut told reporters after meeting an Association of Coffee Producing Countries (ACPC) delegation.

Jakarta PDI-P to elect new chairman

Jakarta PDI-P to elect new chairman JAKARTA (JP): The Jakarta chapter of the Indonesian Democratic Party of Struggle (PDI Perjuangan) is due to elect a new chairman on Friday to replace outgoing Roy B.B. Janis who has assumed a post on the central executive board. The election will be held during a one day congress. Speaking to journalists on Thursday, the chairman of the steering committee of the congress Binsar Tambunan said a political statement will be issued during the meeting.

PSM victorious, PKT overthrown

PSM victorious, PKT overthrown MAKASSAR, South Sulawesi (JP): Home favorites PSM Makassar thrashed visiting Royal Thai Air Force (RTAF) 6-1 in the home leg of its second round match of the Asian Club Football Championships at Mattoangin stadium here on Wednesday. Midfielder Fouda Ntsama opened the scoring for the hosts three minutes into the first half.

Soeharto's trial

Soeharto's trial From Rakyat Merdeka Observing the process of Soeharto's trial on Aug. 31 at the Ministry of Agriculture's auditorium, South Jakarta, as an ordinary citizen I was deeply disappointed because at a time when people want the supremacy of the law to be established, the presiding judge Lalu Mariyun didn't assert any pronouncement to take decision as a judge. I've closely observed the presiding judge still emphasizing the suspect's privileges and legal formalities. 1.

Conversion Rates

Conversion Rates Bank Indonesia's conversion rates on Sept. 21, 2000: Bank notes rates TT rates Buying Selling Buying Selling Rp Rp Rp Rp U.S.

The future of toll road investment

The future of toll road investment The following is the second of two articles on the toll road sector by Heru Dewanto, executive director of the Jakarta-based Center for Technology and Industry Development. JAKARTA (JP): Before the crisis, the toll road sector had made reasonable progress, with improvements taking place in procedures and frameworks for wider private sector participation.

On marriage law

On marriage law From Media Indonesia I would like to respond to a report that State Minister for Empowerment of Women's Roles Khofifah Indar Parawansa, which approves of a proposal made by the central governing board of the Islamic Union that Government Regulation No. 10/1983 should be revoked. It has also been reported that Minister of Religious Affairs Muhammad Tolchah Hasan has welcomed this proposal.

Nigeria okays telecoms plan

Nigeria okays telecoms plan ABUJA, Nigeria (AFP): The Nigerian government on Wednesday approved a US$10 billion development plan for the state-run telecoms company NITEL, casting doubt on its place in the country's slow-moving privatization program. Communications Minister Mohammed Arzika told reporters NITEL would be asked to provide 625.9 billion naira over four years in internally-generated revenue for investment and find an additional 500 billion naira from investors or banks.

Malaysian palm oil futures ends lower

Malaysian palm oil futures ends lower KUALA LUMPUR (Reuters): Malaysian palm oil futures closed lower on Thursday as players resumed selling following bearish data from private forecaster Ivan Wong. Wong said Malaysia's palm oil production was expected to increase 9.4 percent to 1.04 million tonnes in September from 951,185 tonnes in August. He forecast end-September stocks to reach a record 1.31 million tonnes against 1.19 million at end-August.

City Hall to purchase bomb detectors to improve security

City Hall to purchase bomb detectors to improve security JAKARTA (JP): After receiving at least two bomb threats over the past three days, the city administration plans to purchase seven bomb detectors and make significant improvements to the security system at the City Hall building complex. Deputy Governor for Administrative Affairs Abdul Kahfi said on Thursday that the security guards at the complex would also be trained in detection and disarming of explosive devices.

Pertamina, Petronas sign initial pact on gas sales

Pertamina, Petronas sign initial pact on gas sales JAKARTA (JP): State oil and gas company Pertamina has signed the initial agreement with Malaysian state oil and gas company Petronas which will allow Pertamina's contractor Conoco Inc. of the United States to supply natural gas to Malaysia for 20 years in a multibillion-dollar worth deal. Conoco executive vice president Robert E.

House plans to investigate Kostrad scandal: Muhaimin

House plans to investigate Kostrad scandal: Muhaimin JAKARTA (JP): The House of Representatives plans to investigate allegations of a Rp 189 billion corruption scandal at a foundation ran by the Army Strategic Reserves Command (Kostrad) although the Army has dismissed allegations of graft. House Deputy Speaker Muhaimin Iskandar told reporters on Thursday that the House, currently still in recess, has included the `Kostradgate' in its upcoming agenda.

Seven musicals on offer at Teater Utan Kayu at weekend

Seven musicals on offer at Teater Utan Kayu at weekend JAKARTA (JP): In the past few years we have seen Woody Allen's Everyone Says I love You, Kenneth Branagh's Love's Labor's Lost and our own Riri Riza's phenomenal success Petualangan Sherina. All musicals. So what exactly is the fascination with film musicals? Is it the form, the music, the choreography, or the unrealistic convention of a character bursting into song at the slightest dramatic provocation?

Filipino refugees to be put in camp

Filipino refugees to be put in camp KUALA LUMPUR (AFP): Filipinos fleeing to Malaysia to escape a military attack on extremist rebels will be treated as war refugees and placed in a camp, Prime Minister Mahathir Mohamad said here on Thursday. Mahathir, speaking to reporters after opening a media conference, added that the Filipino refugees would not be allowed out of the camp unless they were willing to be deported.

Tangerang mosque project needs funds

Tangerang mosque project needs funds TANGERANG (JP): The Rp 21 billion Grand Mosque project in Tangerang, which began in 1995, has still not been completed because of a lack of funds. "West Java Governor Nuriana should have allocated some money for the project," Sagaf Usman, chairman of the Tangerang Community, said during the signing of a contract for the construction of five of the mosque's domes.

Navy needs more warships

Navy needs more warships CILACAP, Central Java (JP): Indonesian Navy's Eastern Fleet Commander Rear Admiral Adi Haryono said on Thursday that the Navy needed more warships in safeguarding the country's waters from sea intruders, citing that its current 114 warships were far from enough. Adi said ideally there should be at least 500 ships to maximize the Navy's jobs, including its duties to stop the rampant fish theft by foreign vessels.

Activists caught for drugs

Activists caught for drugs BANDUNG: Two members of non-governmental antinarcotics and anticrime organizations were caught red handed by police using crystal methamphetamine, locally known as shabu shabu, in a red light district here on Thursday. Police confiscated 0.5 grams of the contraband from Nandang S and A. Priyatna during a midnight raid on the Saritem complex. No information was available about what organization the two belong to. Bandung City Police chief Sr. Supt.

Batam asks for free trade zone status

Batam asks for free trade zone status JAKARTA (JP): The Batam Industrial Development Authority urged the government on Thursday to change the island's status from an industrial bonded zone to a free trade area to make it more attractive and credible for foreign investment. The authority's chairman, Ismeth Abdullah, said at a seminar here that Batam's free trade zone status should be ratified by law to provide a strong legal basis for investors to do business on the island.

Police detain ten students in clash near Soeharto's house

Police detain ten students in clash near Soeharto's house JAKARTA (JP): A fierce clash between riot police and anti- Soeharto student protesters erupted again near the residence of the former president on Thursday evening after the students incited the conflict by pelting stones and Molotov cocktails toward the law enforcers. No fatalities were reported. The angry students stopped an official military sedan on nearby Jl.

Hostages could be freed very soon, says RP official

Hostages could be freed very soon, says RP official JOLO, Philippines (AP): Philippine troops attacked an area on a remote island where Muslim rebels are believed to be holding an American hostage and hope to rescue him very soon, a government spokesman said on Thursday. Presidential Press Secretary Ricardo Puno said the military were able to identify the area on Jolo island where the Abu Sayyaf rebels are holding Jeffrey Schilling, of Oakland, California, and began moving in Thursday afternoon.

Telkom blasts AriaWest for suspending line installment

Telkom blasts AriaWest for suspending line installment BANDUNG (JP): State owned telecommunications company PT Telkom blasted its partner, American AT&T subsidiary, PT AriaWest International, for suspending the installation of new telephone lines in West Java amid their escalating disagreement. Telkom's vice president for communications Dodi Amarudin said on Wednesday his company regretted AriaWest's move and called for them to immediately recommence the crucial public service.

Asian currencies mixed late

Asian currencies mixed late SINGAPORE (Dow Jones): Asian currencies were mixed late Thursday, with the South Korean won resuming its downward spiral after a two-day pause. Persistently high oil prices, which hit a 10-year peak overnight, a slide in the Korean stock market and lingering concerns over the fallout of Ford Motor Co.'s aborted bid for Daewoo Motor conspired to push the won lower, dealers said.

A dream comes true for Candra, Tony after winning Sydney golds

A dream comes true for Candra, Tony after winning Sydney golds SYDNEY (JP): When the dream comes true, sometimes it is difficult to believe. For world men's doubles number one pair Tony Gunawan and Candra Wijaya, winning the elusive Olympic gold medal was their most coveted title until they snatched it on Thursday. "I can't believe it. This is our dream which comes true," an elated Candra said.

Two die as clash breaks out in Maluku's Saparua island

Two die as clash breaks out in Maluku's Saparua island AMBON, Maluku (JP): A community clash broke out in Saparua island, Maluku, on Thursday, leaving two people dead and four others injured. At least 40 houses in the predominantly Christian Siri Sori Kristen village were burned down during the clash by residents of the predominantly Muslim neighboring village of Siri Sori Islam. Governor Saleh Latuconsina confirmed the clash and said that reinforcements would be sent in.

Salim Group 'obeys MSAA agreement'

Salim Group 'obeys MSAA agreement' JAKARTA (JP): Attorney General Marzuki Darusman said on Thursday that only the Salim Group had so far properly observed the Master of Settlement and Acquisition Agreement (MSAA). Marzuki said the government would take further action against the other conglomerates which had not complied with the MSAA, but declined to reveal what the measures would be. "We still need to reach a consensus with the House of Representatives," he said during a business forum.

Education ministry to submit Rp 25t budget

Education ministry to submit Rp 25t budget JAKARTA (JP): The Ministry of National Education is set to submit a Rp 25 trillion education budget for 2001. "This proposal, however, does not include the budget for sports," Minister Yahya Muhaimin told journalists on Thursday. The proposed budget is higher than the current nine-month budget in which Rp 11 trillion was allocated for education. "The figure (for sports) is still being calculated.

Humanitarian pause brought more casualties, says Graito

Humanitarian pause brought more casualties, says Graito JAKARTA (JP): Indonesian Military (TNI) spokesman Rear Marshall Graito Usodo said on Thursday that the humanitarian pause in restive Aceh province had failed to create a positive environment to settle the region's problems and had led to more casualties. "Since the implementation of the first phase of the humanitarian pause on June 2, 2000, which ended on Sept.

'Envoys unconcerned with Jakarta's security'

'Envoys unconcerned with Jakarta's security' JAKARTA (JP): Jakarta diplomatic corps dean Ribhi Y. Awad said on Thursday that foreign ambassadors and their staff had only taken on modest security precautions following recent acts of terrorism in the capital. In an interview with The Jakarta Post at his office on Jl. Diponegoro, Central Jakarta, Awad, who is also the Palestine ambassador to Indonesia, said he and his colleagues firmly believed that the security climate would quickly improve.

China to pose as tough competitor for ASEAN nations

China to pose as tough competitor for ASEAN nations BANDAR SERI BEGAWAN (AFP): Southeast Asia must prepare for tougher competition from China after the US Senate voted overwhelmingly to normalize trade ties with Beijing, officials said here Thursday. The Association of Southeast Asian Nations (ASEAN) -- whose key members have just emerged from a crippling financial crisis -- must shape up to withstand competition in exports and drawing in foreign investments, they said.

Stock quotations on JSX

Stock quotations on JSX Stock prices on the Jakarta Stock Exchange (in rupiah) on Sept. 21, 2000: Shares Close Change Trading Volume ------------------------------------------------------------- Ades Alfindo 960 125 1,334,500 Adindo Foresta Indonesia 205 0 64,500 Alakasa Industrindo 570 70 500 Alfa Retailindo 810 0 0 Alter Abadi 210 0 0 Alumindo Light Metal 1,040 35 1,000 Aneka Kimia Raya 280 -10 50,000 Aneka Tambang (Persero) 1,000 -5 170,000 Anwar Sierad 300 0 0 APAC Centertex Corp.

No political motives behind Fachrul's dismissal: Widodo

No political motives behind Fachrul's dismissal: Widodo JAKARTA (JP): Indonesian Military (TNI) Commander Adm. Widodo A.S. denied political motives were behind the dismissal of TNI deputy chief Gen. Fachrul Razi, calling the move part of an ongoing program in military headquarters. "No, there is no political motive behind the decision.

Ongko's five units bankrupt

Ongko's five units bankrupt JAKARTA (AFX-ASIA): The Jakarta Commercial Court has declared five Ongko Group units bankrupt after they failed to settle a total of US$100 million in matured debts, judge Mahdi Soroinda Nasution said. The five companies are PT Metrotama Dunia, PT Indoland Jaya, PT Sumber Keramik Kharisma, PT Kreasi Supradinamika Multicorpora and PT Widiamulia Prima Multicorpora, Nasution said.

PT Newmont says Batu Hijau gives twice expected cash flow

PT Newmont says Batu Hijau gives twice expected cash flow MELBOURNE (Dow Jones): PT Newmont Nusa Tenggara's Batu Hijau copper and gold plant in Sumbawa, Indonesia, produced around 265.8 million pounds of copper and 165,000 troy ounces of gold in its first year of production, Tom Enos, the company's president- director, told reporters Thursday. Cost of production after taking into account gold credits was 59 U.S. cents a pound of copper, Enos said.

Mutual understanding vital for sex in your sixties

Mutual understanding vital for sex in your sixties By Rochmat Darodjat BANDUNG (JP): "Frankly, my husband and I still need sex," says 62-year-old Rokayah loudly to a cheering audience in a seminar.

Month-long crackdown on criminals planned

Month-long crackdown on criminals planned JAKARTA (JP): All top city officials, including those in the police and military, are to meet on Friday in preparation for the planned month-long joint raid in the capital against criminal activities, particularly the possession of fire arms and explosive devices.

'Globalizing' the International Monetary Fund

'Globalizing' the International Monetary Fund By John Dodsworth JAKARTA (JP): Ministers Rizal Ramli and Prijadi Praptosuhardjo along with acting Bank Indonesia Governor Anwar Nasution are traveling this week to Prague to represent Indonesia at the Annual Meetings of the International Monetary Fund and World Bank. The meetings will be an opportunity for the new economic team to discuss the activities of the IMF and the World Bank in Indonesia and to exchange views on economic policy.

Police arrest four suspected criminals

Police arrest four suspected criminals BOGOR (JP): Cileungsi Police, acting on a tip-off from residents, arrested four people suspected of stealing motorcycles and hijacking trucks in Bogor. Bogor Police chief Supt. Bambang Wasgito said on Thursday four of six suspected criminals were arrested during a raid in Dayeuh village, Cileungsi district, early on Wednesday morning. The four were identified as Kaka bin Mustar, 20, Syarifudin, 22, May, 29, and Bowo, 26.

Indonesia's first gold in Sydney

Indonesia's first gold in Sydney By Primastuti Handayani SYDNEY (JP): Men's badminton doubles Candra Wijaya and Tony Gunawan lived up to their world number one status, lifting their struggling nation to an Olympic gold medal on Thursday. Not only did the victory end a long wait, it maintained Indonesia's gold medal winning tradition in the Olympic Games dating back to the memorable twin victories of Susi Susanti and her boyfriend Alan Budikusuma in Barcelona eight years ago.

Military elements implicated in Atambua killings

Military elements implicated in Atambua killings JAKARTA (JP): Attorney General Marzuki Darusman revealed here on Thursday that elements of the Indonesian Military (TNI) have been implicated in two recent incidents in Atambua, East Nusa Tenggara, earlier this month, which resulted in the death of three UN relief workers and a militia leader. Marzuki said "elements of the military" were among 13 suspects who have been arrested for their alleged involvement in the two incidents.

Firepower won't quell unrest in restive Mindanao

Firepower won't quell unrest in restive Mindanao By Phar Kim Beng SINGAPORE: When the Abu Sayyaf abducted three Malaysian hostages from Pandanan island on Sept. 11, one day after receiving their ransom, their action energized the Philippine government to go on the offensive. In the words of a top Philippine government negotiator: "It was the straw that broke the camel's back." The military operations now under way in Jolo aim to wipe out the Abu Sayyaf.

SE Asia floods leave two million homeless

SE Asia floods leave two million homeless HANOI (AFP): More than two million people across Vietnam, Cambodia and Thailand are now homeless as a result of the floods sweeping down the Mekong River, officials said on Thursday. In Vietnam as many as two million people are without shelter, where thousands of families face hunger and epidemics as they camp out in narrow dikes, they said.