Archive: 30 September 2000
57 articles found
Sat, 30 Sep 2000, 00:00 WIB
Oil price recovers on Iraq's news
Oil price recovers on Iraq's news LONDON (Reuters): Oil prices recovered some losses on Friday after slumping heavily when Iraq vowed not to disrupt its export sales of more than two million barrels per day (bpd). London Brent crude futures were trading up 55 cents at $29.81, having skidded $1.28 the previous day. U.S. light crude oil futures on off-hours trade were up 36 cents at $30.70 per barrel.
Sat, 30 Sep 2000, 00:00 WIB
Embargo and lessons from history
Embargo and lessons from history By Riza Sihbudi JAKARTA (JP): Modern political history shows that embargoes have hardly ever achieved their purposes. An embargo is essentially a policy of political isolation by one or several countries or by international organizations towards certain countries, aimed at making the targeted countries comply with the wishes or rules determined by those issuing the embargo.
Sat, 30 Sep 2000, 00:00 WIB
Asian banks recover from crisis: S&P
Asian banks recover from crisis: S&P TOKYO (Reuters): Asian banks are recovering after the region's 1997 currency crisis but will take at least another three to five years to regain their full health, Standard and Poor's (S&P) said on Friday. Executives from the ratings agency told a conference in Tokyo that in some countries the healing could take much longer. Indonesian banks, for example, will need another decade to recover fully and the clean-up could cost another $70 billion.
Sat, 30 Sep 2000, 00:00 WIB
Condemning military is counterproductive: Wiranto
Condemning military is counterproductive: Wiranto JAKARTA (JP): Continued condemnation of the Indonesian Military (TNI) in retaliation for past wrongdoings could be counterproductive, Gen. (ret) Wiranto has warned. Wiranto, a former minister of defense/TNI chief, admitted that the military was in a difficult position because of its bad performance in the past. However, if it remained incessantly under public fire it could lead to a situation which would be counterproductive to all.
Sat, 30 Sep 2000, 00:00 WIB
ASEAN, an historical embodiment of Southeast Asia
ASEAN, an historical embodiment of Southeast Asia The following is the second of two articles based on the address of former foreign minister Ali Alatas on his acceptance of a degree of Doctor of Laws, Honoris Causa, conferred by the National University of Singapore on Sept. 19. SINGAPORE: We must push on with the realization of the ASEAN Free Trade Area to prove that even in adversity we do not turn inward or shy away from the challenges of globalization.
Sat, 30 Sep 2000, 00:00 WIB
Ex-employees of liquidated ministries still unemployed
Ex-employees of liquidated ministries still unemployed JAKARTA (JP): The city administration is having difficulties providing jobs for some 40,000 government employees in Jakarta whose ministries were closed down by the central government. According to the deputy governor for administrative affairs, Abdul Kahfi, his office would be very selective in recruiting government employees from dissolved ministries. "Of course this is a burden for us.
Sat, 30 Sep 2000, 00:00 WIB
Ngasem market: A silent witness to trade in rare birds
Ngasem market: A silent witness to trade in rare birds By Bambang Trisno YOGYAKARTA (JP): Visitors to Ngasem bird market in Tamansari area, some 500 meters west of the Yogyakarta Palace, can witness rare and protected birds being freely traded. These rare and protected birds cost between Rp 75,000 and Rp 150,000 each. At the market, young eagles, for instance, are much more expensive than the adults. A young eagle might cost between Rp 150,000 and Rp 250,000 each.
Sat, 30 Sep 2000, 00:00 WIB
China warns U.S. against arms sale
China warns U.S. against arms sale BEIJING (AFP): China warned on Friday the United States against going ahead with a planned US$1.3 billion arms sale to Taiwan, or otherwise face "serious consequences," state media said. Chinese foreign ministry spokesman Sun Yuxi said the US should live up to previously signed communiques and commitments and abandon the planned arms sale, the official Xinhua news agency said.
Sat, 30 Sep 2000, 00:00 WIB
Freeport reorganizes its management structure
Freeport reorganizes its management structure NEW ORLEANS (Dow Jones): Freeport-McMoran Copper & Gold Inc. reorganized its management structure, giving more responsibility for the operations of its principal unit, PT-Freeport Indonesia, to its Indonesian-based executive team.
Sat, 30 Sep 2000, 00:00 WIB
Experts differ in opinion on Soeharto case
Experts differ in opinion on Soeharto case JAKARTA (JP): Experts differ in opinion on the decision by presiding judge Lalu Mariyun to drop all charges of graft against former president Soeharto and to return the dossiers to the South Jakarta Prosecutor's Office.
Sat, 30 Sep 2000, 00:00 WIB
Where to go in Yogyakarta:
Where to go in Yogyakarta: Exhibitions * Glass painting exhibition by Magelang artists, Kedai Kebun, Jl Tirtodipuran 3 (phone: 0274-376114, fax: 0274-375194), Oct 1-30, 2000. * Photo exhibition: Potret Manusia by Mohammad Amin, CCF French Cultural Center, Jl Sagan 3 (phone: 0274-566520), Oct 2-11, 2000. * Painting exhibition by Kelompok Biru, Bentara Budaya Yogyakarta, Jl. Suroto 2 (phone: 0274-560404), Oct 3-10, 09.00- 13.00 and 17.00-21.00.
Sat, 30 Sep 2000, 00:00 WIB
Lippo Ltd. books losses
Lippo Ltd. books losses HONG KONG (Dow Jones): Battered by hefty provisions for bad debts, Lippo Ltd. on Friday reported a net loss of HK$38.7 million for the six months ended June 30, compared with a HK$14.6 million net profit in the year-earlier period. The company, which is backed by the Riady family of Indonesia, recorded a HK$111.4 million provision for bad and doubtful debts.
Sat, 30 Sep 2000, 00:00 WIB
TV today
TV today TVRI 5:00 a.m. Religious Teachings 6:00 News 8:00 Olympics Program 11:00 Interval 2:00 p.m. News 2:30 Olympics Program 6:30 Music 7:00 Evening News 7:30 TV Drama 8:00 Sport News 9:00 News 9:30 Quiz 10:00 Film 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 Talk Show 8:30 Cooking Program 9:00 Quiz 10:00 Indian Film 1:00 p.m.
Sat, 30 Sep 2000, 00:00 WIB
Autonomy will bring 'few structural changes'
Autonomy will bring 'few structural changes' JAKARTA (JP): Minister of Home Affairs and Regional Autonomy Surjadi Soedirdja said on Friday that when regional autonomy was implemented, there would not be much difference in the bureaucratic structure or the composition of regional administrations.
Sat, 30 Sep 2000, 00:00 WIB
Emil warns of impact from environmental damage
Emil warns of impact from environmental damage JAKARTA (JP): The rolling out of regional autonomy in January next year could lead to widespread environmental damage due to local governments' lack of vision and concern on biodiversity management, an expert warned on Friday.
Sat, 30 Sep 2000, 00:00 WIB
Govt offers help for IT kiosks
Govt offers help for IT kiosks JAKARTA (JP): The office of the State Minister for Research and Technology has prepared a catalog of practical technology in the form of CD-roms to be given to those interested in opening Information and Technology (IT) kiosks.
Sat, 30 Sep 2000, 00:00 WIB
Bonuses await medal winners in Olympic Games
Bonuses await medal winners in Olympic Games JAKARTA (JP): Men's doubles shuttlers Candra Wijaya and Tony Gunawan top the list of cash bonus recipients following their gold-medal triumph in the 2000 Olympic Games in Sydney. The official in charge of planning and budgeting at the National Sports Council (KONI), Togi Hutagaol, announced on Friday the badminton pair would share Rp 1 billion in cash provided by isotonic drink company Extra Joss.
Sat, 30 Sep 2000, 00:00 WIB
Three Indonesians who are preserving the country's past
Three Indonesians who are preserving the country's past JAKARTA (JP): The difficulty experienced in obtaining information relating to the history of various historic sites is no secret, leaving Indonesians open to criticism for not caring about their own history. In order to prove it, just go to almost any historic site and see the difficulty you will have in encountering an owner or people living there who have information regarding the site's history.
Sat, 30 Sep 2000, 00:00 WIB
S'pore, Japan conclude joint study on free trade
S'pore, Japan conclude joint study on free trade SINGAPORE (AFP): A free trade agreement between Singapore and Japan has moved a step closer to realization with the completion of a joint study on the proposed pact, officials said Friday. The joint study group has submitted its recommendations to the prime ministers of both countries for the so-called Japan- Singapore Economic Agreement for a New Age Partnership, Singapore officials said.
Sat, 30 Sep 2000, 00:00 WIB
Govt keeps silent
Govt keeps silent From Neraca In October there will be an increase of fuel price. As a result of this government policy, prices of staple food and the daily needs will begin to gradually increase. So far the government is silent. It hasn't made any appeal or threat to sanction traders' speculations. Recently Warta Kota reported increased prices for staple food and milk. If the prices have already increased, most probably they will be adjusted in October. Why does the government remain silent?
Sat, 30 Sep 2000, 00:00 WIB
Officials claim ignorance of gift for councillors
Officials claim ignorance of gift for councillors JAKARTA (JP): Senior city officials claimed on Friday they have no idea and had never been informed by Governor Sutiyoso about the alleged Rp 850 million (US$95,000) fund Sutiyoso gave to 85 city councillors a few days after the governor delivered his revised accountability speech.
Sat, 30 Sep 2000, 00:00 WIB
Drop probe into justices: Court
Drop probe into justices: Court JAKARTA (JP): The South Jakarta District Court ordered the Joint Anti-Corruption Team (TGPTPK) on Friday to drop its corruption investigation into two justices of the Supreme Court, saying that the team has acted beyond its authority. Judge Rusmandani approved the demand of the two justices -- Supraptini Sutarto and Marnis Kahar -- to declare the investigation invalid because of questions about the legality of the team's work.
Sat, 30 Sep 2000, 00:00 WIB
Bird cage business booming in Argosari
Bird cage business booming in Argosari By R. Agus Bakti YOGYAKARTA (JP): Bird lovers are prone to pay a lot of attention to their animals. Most of them, however, do not think too much about their birds' cages, which they clean up almost everyday. All they know is that they can easily find a cage at most bird markets. In Yogyakarta's Ngasem bird market, most of the cages come from Argosari village in the Bantul regency.
Sat, 30 Sep 2000, 00:00 WIB
Bank robbers escape with Rp 400 million
Bank robbers escape with Rp 400 million JAKARTA (JP): Tangerang Police detectives are searching for the culprits who robbed the Bank Central Asia branch office on Jl. Imam Bonjol in Karawaci, west of here. The thieves escaped with a safe containing Rp 400 million (about US$45.4 million) in the robbery, which took place at about 3:30 a.m. on Thursday. The head of the Tangerang Police crime unit, Sr.Insp. Augustinus B.
Sat, 30 Sep 2000, 00:00 WIB
Robot demonstrators
Robot demonstrators From Jurnal Indonesia Have you ever seen a student demonstration with your own eyes? I am writing to tell you, readers, that in many cases our students act exactly like robots in that they will do things as instructed by their operator(s). Yes, they can be very brutal, wild, and inhumane. Let's take an example of a recent incident between the police who were safeguarding former president Soeharto's residence at Jl.
Sat, 30 Sep 2000, 00:00 WIB
Water rates to rise for maintenance
Water rates to rise for maintenance BOGOR (JP): The Bogor office of city-owned tap water company PDAM is to raise water tariffs by November to, among other factors, maintain the strength of the water pipes. "Broken water pipes will take longer to repair if water rates are not raised soon. Bacteria or worms could enter pipes that are in disrepair and nobody wants to drink that (kind of) water," PDAM Bogor director Daslim Saibi told reporters on Saturday.
Sat, 30 Sep 2000, 00:00 WIB
Weak rupiah
Weak rupiah From Warta Kota Since the New Order regime I have had the impression that ministers are happy to raise prices. One reason they give for price hikes is: "Prices haven't been hiked for a long time although the rupiah has been weakening against the dollar." Knowing the problems we face, our ministers should have tried to improve things so that Indonesia's economy would be able to compete in the international market.
Sat, 30 Sep 2000, 00:00 WIB
Late-night romance ends in death
Late-night romance ends in death SEMARANG: A 30-year-old man was beaten to death early on Friday morning after neighbors apparently became upset over his late-night courtship of a woman living in the area. Supriyanto, who during the day worked as a chauffeur, was dragged from his girlfriend's house in Plokoran village, Jumo Temanggung district, at about 1 a.m. and beaten to death by locals.
Sat, 30 Sep 2000, 00:00 WIB
Recovery vulnerable
Recovery vulnerable President Abdurrahman Wahid's economic team should not take too much comfort, let alone feel complacent, from the commendation in the first few paragraphs of the latest annual Indonesian review report by the International Monetary Fund for what it called significant progress already achieved in macroeconomic stabilization. On the contrary, the bottom line of the Sept.
Sat, 30 Sep 2000, 00:00 WIB
Boosting education
Boosting education I refer to the two headlines in the Sept. 23, 2000 edition of The Jakarta Post: Education needs more attention on page 1, and Holland provides $30.4 million grant for local schools, on page 2. This is supported by the demand for 25 percent of the state budget to be allocated for education. We now find ourselves at a turning point in the Indonesian way of thinking about education.
Sat, 30 Sep 2000, 00:00 WIB
Students warned against staging violent protests
Students warned against staging violent protests JAKARTA (JP): Police warned students on Friday against conducting more violent protests following the ugly clashes which erupted on Thursday after the South Jakarta District Court dropped corruption charges against former president Soeharto. "I warn them for the last time... I don't want anymore casualties. So don't push us around," Jakarta Police chief Insp. Gen.
Sat, 30 Sep 2000, 00:00 WIB
Thorough checks
Thorough checks JAKARTA (JP): Policemen search for weapons inside a hut in a refugee camp near the East Nusa Tenggara capital of Kupang. East Timor militia leader Joanico Cesario and his men reportedly surrendered on Friday two automatic weapons, 370 rounds of ammunition and seven bullet magazines in Kupang, East Nusa Tenggara, as police stepped up their operation to disarm militiamen.
Sat, 30 Sep 2000, 00:00 WIB
Gedung Joang 45: The center for independence
Gedung Joang 45: The center for independence By Ida Indawati Khouw The "Gedung Joang 45" on Jl. Menteng Raya No. 31 in Central Jakarta is very historic as it was the center where nationalist youths started movements to reach the country's independence. This is the 58th article on the old and protected buildings in the city. JAKARTA (JP): Dutch businessman in Batavia, L.C.
Sat, 30 Sep 2000, 00:00 WIB
Governor seeks help feeding refugees
Governor seeks help feeding refugees MAUMERE, East Nusa Tenggara: East Nusa Tenggara Governor Piet A. Tallo called on Friday for immediate aid from the central government and the United Nations to feed the thousands of East Timorese refugees in the province. He said the local administration had limited resources to provide humanitarian aid, adding that the situation in the territory was very difficult and local residents also were suffering.
Sat, 30 Sep 2000, 00:00 WIB
Men make off with Rp 21m in robbery
Men make off with Rp 21m in robbery DENPASAR, Bali: Two armed men escaped with Rp 21.5 million in cash in a day-light robbery here on Friday. No fatalities were reported in the incident, a police officer said. The chief of the Badung riot police, Sr. Insp. Ketut Surphawinaya, said the robbery occurred in the parking lot of an electronics store on Jl. Gunung Agung.
Sat, 30 Sep 2000, 00:00 WIB
Indonesia pulls out of coffee retention program
Indonesia pulls out of coffee retention program JAKARTA (JP): Indonesia has pulled out of the coffee retention program designed to shore up world coffee prices after learning that two other major producers, Vietnam and India, would not take part, Antara reported on Friday. Minister of Industry and Trade Luhut B.
Sat, 30 Sep 2000, 00:00 WIB
Soeharto's trial
Soeharto's trial The trial of Pak Harto (former president Soeharto) is no longer a judicial proceeding, nor is it a political trial. It is a trial of doctors -- or rather, a trial of the medical profession. The defendants are doctors, the defense lawyers are doctors and, in reality, the judges too are doctors. For those reasons one can understand why a person such as Prof. Dr.
Sat, 30 Sep 2000, 00:00 WIB
House team to question witnesses over scandals
House team to question witnesses over scandals JAKARTA (JP): The chief of a special House of Representatives investigation team probing two scandals related to President Abdurrahman Wahid -- the State Logistics Agency and Brunei scandals -- has said the team will question 21 people over the scandals. "If these people indicate that the President was involved in the scandals, we might question him also for clarification," legislator Bachtiar Chamsyah announced on Friday.
Sat, 30 Sep 2000, 00:00 WIB
Antique clocks very rich in art and historical value
Antique clocks very rich in art and historical value By Sri Wahyuni YOGYAKARTA (JP): The loud chime of a particular clock surprised visitors at a clock exhibition at Bentara Budaya here. "This clock was used in a church tower," the exhibition's coordinator Hermanu explained. The three-meter high and 90-centimeter wide wooden clock was only one of some 50 clocks that were displayed during the week- long exhibition titled Lontjeng Toea (Old Bell) that ended on Sept. 26.
Sat, 30 Sep 2000, 00:00 WIB
National team loses to Vitesse in friendly
National team loses to Vitesse in friendly JAKARTA (JP): The national soccer team was given a valuable lesson prior to its Asian Cup finals' campaign by Dutch first division side Vitesse Arnhem on Thursday. Fielding its second stringers, the Dutch league leader showed up the weak defense of Nandar Iskandar's squad with a three-goal spree in 13 minutes in the middle of the second half to win the friendly 4-2.
Sat, 30 Sep 2000, 00:00 WIB
Tommy's lawyer waiting for copy of court verdict
Tommy's lawyer waiting for copy of court verdict JAKARTA (JP): A lawyer from Hutomo "Tommy" Mandala Putra's defense team said until they received a copy of the Supreme Court verdict sentencing their client to 18 months in prison, they would not know what their next step would be.
Sat, 30 Sep 2000, 00:00 WIB
Conversion Rates
Conversion Rates Bank Indonesia's conversion rates on Sept. 29, 2000: Bank notes rates TT rates Buying Selling Buying Selling Rp Rp Rp Rp U.S.
Sat, 30 Sep 2000, 00:00 WIB
Inco defers payment of interim dividend
Inco defers payment of interim dividend JAKARTA (JP): The board of commissioners of PT International Nickel Indonesia Tbk (Inco) agreed during its meeting in Toronto, Canada, to defer the company's interim dividend for 2000. The company's president commissioner, Scott M. Hand, said in a statement the decision was made because the company's net cash flow, after required debt repayments, was not sufficient at the present time to support an interim dividend.
Sat, 30 Sep 2000, 00:00 WIB
Aji trying off-field business for better life
Aji trying off-field business for better life By Ivy Susanti JAKARTA (JP): After 13 years of playing on the soccer field, national team captain Aji Santoso is trying a new pitch: business. Aji, who on April 6 reached the psychological benchmark age of 30, has learnt well that for many Indonesian athletes a sporting career does not always promise a good -- not to mention glamorous -- life after retirement. "I want to spend the rest of my life as part of a prosperous family.
Sat, 30 Sep 2000, 00:00 WIB
Five pro-Anwar protesters detained
Five pro-Anwar protesters detained KUALA LUMPUR (Agencies): Malaysian police Friday detained five people who staged a protest in support of jailed ex-deputy premier Anwar Ibrahim in front of Prime Minister Mahathir Mohamad, Anwar supporters said. The five people displayed a banner calling on Mahathir to resign as he arrived at the International Islamic University Malaysia for a speaking engagement, the FreeAnwar Campaign said in a statement.
Sat, 30 Sep 2000, 00:00 WIB
IBRA seals deal with owners of closed banks
IBRA seals deal with owners of closed banks JAKARTA (JP): The Indonesian Bank Restructuring Agency (IBRA) secured this week a debt settlement deal with the owners of four closed banks, agency senior official Lungguk Gultom said late on Friday.
Sat, 30 Sep 2000, 00:00 WIB
TNI weapon ruled out in murder case
TNI weapon ruled out in murder case BANDA ACEH, Aceh (JP): Police said on Friday that the bullet which killed Safwan Idris, the rector of Ar-Raniry Islamic Institute two weeks ago, could not have come from any standard weapon used by the Indonesian Military (TNI) or the National Police. "The projectile found at the shooting location was fired from a U.S.-made .38 caliber gun," Aceh Police chief Brig. Gen. Doddy Sumantyawan said.
Sat, 30 Sep 2000, 00:00 WIB
Most Asian currencies end higher
Most Asian currencies end higher SINGAPORE (Dow Jones): Most Asian currencies were higher late Friday, with the Southeast Asian units gaining on the rupiah's resilience in the face of outrage following the dismissal of the corruption case against ex-President Soeharto, dealers said. In northeast Asia, the South Korean won was stronger, while the New Taiwan dollar was steady.
Sat, 30 Sep 2000, 00:00 WIB
Stock Exchange
Stock Exchange Stock prices on the Jakarta Stock Exchange (in rupiah) on Sept. 29, 2000: Shares Close Change Trading Volume ------------------------------------------------------------- Ades Alfindo 940 -10 135,000 Adindo Foresta Indonesia 130 5 307,500 Alakasa Industrindo 430 0 0 Alfa Retailindo 790 0 35,000 Alter Abadi 210 0 43,000 Alumindo Light Metal 940 -60 44,000 Aneka Kimia Raya 285 5 20,000 Aneka Tambang (Persero) 990 5 459,000 Anwar Sierad 300 0 0 APAC Centertex Corp.
Sat, 30 Sep 2000, 00:00 WIB
Allergy to hard work
Allergy to hard work Being an obviously avid reader of The Jakarta Post and of Indonesia current affairs, I have also surprised myself by becoming a rather regular letter writer too. The recent correspondence on Indonesian athletes prompts me to once again put in my "two pennies worth". I am by profession a horse riding coach and have taught riding throughout the world to many different nationalities over a period of 30 years. I have also driven in all countries (and drive myself here too).
Sat, 30 Sep 2000, 00:00 WIB
Humanitarian pause useless
Humanitarian pause useless The agreement to extend the humanitarian pause in Aceh is a complete waste of time. Does the government not realize that it has taken a wrong step by signing this agreement in the first place, which so far has given the Free Aceh Movement (GAM) the opportunity to misuse the pause and cause more suffering to the common people, creating additional problems for the law enforcing agencies?
Sat, 30 Sep 2000, 00:00 WIB
KL palm oil higher on weekend covering
KL palm oil higher on weekend covering KUALA LUMPUR (Reuters): Malaysian palm oil prices closed higher on Friday in a technical bounce after sharp losses this week. Traders said the market was helped by covering ahead of the weekend and next week's release of September exports data. The benchmark third-month December futures contract ended up five ringgit at 901 ringgit ($237.11) a ton after trading as high as 904. For the week, it was down 17 ringgit.
Sat, 30 Sep 2000, 00:00 WIB
IT development outside Java
IT development outside Java JAKARTA (JP): The Minister of Industry and Trade Luhut B. Panjaitan said on Friday that his office will form an agency to prepare the development of information technology (IT) in areas outside of Java and Bali. "IT will be developed in the regions so that its benefit can be felt in local people," he told reporters after opening a workshop on industrial policy here.
Sat, 30 Sep 2000, 00:00 WIB
Isolated protests ahead of fuel price hike
Isolated protests ahead of fuel price hike JAKARTA (JP): Protests against the government's plan to hike fuel prices were held in several towns on Friday amid growing signs of more widespread demonstrations and possible strikes when the increase comes into effect on Sunday. With just two days to go before the average 12 percent increase, gas stations in Jakarta and most towns in the country reported there was none of the panic buying which accompanied past fuel price hikes.
Sat, 30 Sep 2000, 00:00 WIB
Port security foils smuggling of arms, munitions
Port security foils smuggling of arms, munitions AMBON, Maluku (JP): Buli port security in East Halmahera, North Maluku, confiscated on Friday hundreds of M-16 rounds, rifles and explosives while the items were being unloaded from passenger ship KM Albatim. Aside from the ammunition and firearms, the officers also found 12 grams of shabu shabu (crystal methamphetamine) in one of the ship's compartments.
Sat, 30 Sep 2000, 00:00 WIB
Ruling on Soeharto irks Gus Dur
Ruling on Soeharto irks Gus Dur JAKARTA (JP): President Abdurrahman Wahid has expressed dissatisfaction with the court ruling to drop corruption charges against former president Soeharto, and hinted that he would seek to replace the judges presiding over the case. Implying that the judges were not upright, Abdurrahman said that the government would look for replacements who were "clean, firm and cannot be bought".
Sat, 30 Sep 2000, 00:00 WIB
Bintuni to sell ships to pay bond interest
Bintuni to sell ships to pay bond interest JAKARTA (JP): The annual shareholders' meeting of fishery concern PT Bintuni Minaraya agreed on Friday to sell part of the company's shipping fleet to meet bond interest payments. "The meeting has decided to authorize management to sell ships if the company's cash flow cannot meet payments on bond interest," Bintuni investor relations officer Dixi Satianagara told a press conference. According to Dixi, Bintuni owned a fleet of some 700 ships.