Indonesian Political, Business & Finance News

Archive: 8 February 2001

53 articles found

Rupiah falls with arrival of forward trades deadline

Rupiah falls with arrival of forward trades deadline SINGAPORE (Dow Jones): Most Asian currencies floundered late Wednesday, with the Singapore dollar hit hard by talk of a possible merger or acquisition involving the country's largest bank and nervousness about the political chaos in Indonesia.

Gus Dur supporters burn Golkar offices

Gus Dur supporters burn Golkar offices SURABAYA (JP): The anger of President Abdurrahman Wahid's supporters boiled over on Wednesday when they torched Golkar Party offices in Surabaya, Mojokerto and Malang, all in East Java. In protest at the censuring of the President by the House of Representatives (DPR) over the Bulog and Brunei financial scandals, tens of thousands of the President's supporters continued to vent their anger publicly.

No cross-holdings with Asia Pulp & Paper: AFP

No cross-holdings with Asia Pulp & Paper: AFP SINGAPORE (Dow Jones): Singapore-listed Asia Food & Properties Ltd. (AFP) said Wednesday it has no cross-share holdings with Asia Pulp & Paper Co. (APP) even though the two companies share the same parent. The two are owned by the Indonesia Widjaja family, but the debt troubles of APP has no bearing on AFP, the company said in a statement.

Police to hand over Elize to prosecutors

Police to hand over Elize to prosecutors JAKARTA (JP): City police detectives are scheduled to hand over bomb suspect Elize Maria Tuwahatu and the dossier on her to state prosecutors next week. City police chief of detectives Sr. Comr. Harry Montolalu said the final touches were being made to the dossier. "Next week, we hand over the dossier and Elize to state prosecutors," Harry announced on Wednesday.

Minister's visit to S'pore to heal rift

Minister's visit to S'pore to heal rift SINGAPORE (AP): In a trip intended to soothe recently strained ties, Malaysia's deputy prime minister arrived on Wednesday in Singapore on an official visit. Deputy Prime Minister Abdullah Ahmad Badawi, who came with his wife, three Cabinet ministers and six other ministers, will meet and play golf with Prime Minister Goh Chok Tong, Singapore's Foreign Affairs Ministry said in a statement.

Fighting racism and xenophobia

Fighting racism and xenophobia Chinese Indonesians have been able to openly celebrate Chinese New Year for the past two years. Feb. 15 also marks the once- lively Cap Go Meh celebrations following the New Year. The following article is by Ester Indahyani Jusuf who chairs the Jakarta-based Solidaritas Nusa Bangsa organization which works to fight discrimination. JAKARTA (JP): Racism in Indonesia continues in complex ways, encompassing various spheres of life.

Asia faces fiscal dilemma

Asia faces fiscal dilemma By Alan Wheatley TOKYO (Reuters): The large public debts chalked up tackling Asia's financial crisis have come back to haunt the region's governments as they seek to cushion their economies from a global slowdown. The debt burden is already so great in some countries, especially Indonesia and the Philippines, that most economists now view a fiscal blow-out as a much larger risk than a re-run of the region's 1997 balance-of-payments crisis.

S'pore, RI to sign gas deal

S'pore, RI to sign gas deal SINGAPORE (AFX-ASIA): Singapore Power said it will sign on Feb 12 a gas supply deal with Pertamina. The deal will be signed in Jakarta by Singapore trade and industry minister George Yeo and Indonesian minister for energy & mineral resources Purmono Yusgiantoro, it said. "The sealing of the gas deal marks the culmination of the negotiations between PowerGas, a subsidiary of Singapore Power, and Pertamina," it said.

Residents moved from critical area

Residents moved from critical area BOGOR (JP): Over 170 families from Cileuksa Lebak subdistrict have been relocated from their subsiding land to the neighboring area of Cileuksa Utara, which lies 2 kilometers away. Spokesman for the Bogor regency administration M. Sjahuri said on Wednesday the land on which the residents' houses were located had subsided as a result of a landslide which occurred in May of last year.

Police arrest 2, seize 1,669 explosive devices

Police arrest 2, seize 1,669 explosive devices JAKARTA (JP): The Jakarta Police special crimes detection unit (Tipiter) arrested two men for questioning and are hunting another following the finding of 1,669 small explosive devices in a warehouse in Penjaringan, North Jakarta, on Tuesday afternoon. City police chief of detectives Sr. Comr. Harry Montolalu said on Wednesday that the explosives were imported from a Chinese factory and had arrived in Jakarta by sea.

Where to go in Bali:

Where to go in Bali: Exhibitions * Painting Song of Peace, by 7 painters from Malang, Surabaya, Kalimantan, Pranoto's Art Gallery, Main road, Kutuh, Ubud (Phone: 0361 970827), until Feb. 24. * Painting by German artist Peter Dittmar, at Gaya Fusion of Senses, Jl. Raya Sayan (Phone: 0361 979253), until Feb. 10. Museums and Galleries * Blue Moon Gallery, Jl. Tirta Tawar, Banjar Kutuh Kaja, Ubud (Phone: 0361 976727), daily, 11 a.m. to 5 p.m. * Museum Puri Lukisan, Jl.

Government undecided over fuel price increase

Government undecided over fuel price increase JAKARTA (JP): The government is undecided on whether to increase fuel prices in April this year as planned in the 2001 state budget, a minister said on Wednesday. Minister of Energy and Mineral Resources Purnomo Yusgiantoro said his office had prepared a proposal for the fuel hike but it still needed the approval of the Cabinet and the House of Representatives. He said the Cabinet would hold a meeting next week to discuss the proposal.

PLN regrets electricity black out

PLN regrets electricity black out JAKARTA (JP): A number of areas in the western and southern parts of the capital experienced a power blackout on Wednesday, starting at around 12 a.m. The state electricity company PT PLN has apologized for the problem, saying that it was caused by significant disturbance at the Senayan relay station in Central Jakarta. Riyo Supriyanto, an employee of the company, said the disruption at the relay station affected electricity supplies in the areas around Jl.

Indosat books profit despite lower income

Indosat books profit despite lower income JAKARTA (JP): International telephone operator PT Indosat suffered a 12.2 percent decline in operating profit in 2000, but the company still booked a significant increase in net earnings thanks to a surge in other income. In its 2000 consolidated financial report, the company said its operating profit dropped to Rp 1.33 trillion in 2000 from Rp 1.52 trillion the previous year, although there was a 4 percent increase in operating profit.

KL palm oil ends off lows on short covering

KL palm oil ends off lows on short covering KUALA LUMPUR (Reuters): Malaysian palm oil futures recouped some losses by the close on Wednesday on short covering after a bearish crop report from private forecaster Ivan Wong had pressured prices. Wong said Malaysia's palm oil output was estimated to have risen 6.5 percent to 1.0 million tons in January from a month earlier. He had earlier put the production at between 910,000 and 915,000 tons.

Enjoy the delights, food and views of Bali

Enjoy the delights, food and views of Bali DENPASAR, Bali (JP): Do Bali's white beaches, luxury hotels, friendly smiles and cultural festivals satisfy you? Have you ever sampled the wide selection of delicious foods offered by the famous tourist island's hotels and restaurants? Bali has numerous restaurants, which are either part of star- rated hotels or individually located in prime areas. Visitors can enjoy any kind of food their heart desires.

Public role in budget review hailed

Public role in budget review hailed JAKARTA (JP): Governor Sutiyoso asserted on Wednesday that the public would have the opportunity to participate in revising the 2001 city budget in July. "We cannot revoke the approved city budget, but we can accommodate criticism and suggestions for future improvements. So, I call on the community to believe in our goodwill," said Sutiyoso.

Jakarta Outer Ring Road project may start next month

Jakarta Outer Ring Road project may start next month JAKARTA (JP): The eagerly anticipated Jakarta Outer Ring Road (JORR) is entering the final stages of its preparation and may begin next month, Minister of Settlement and Regional Infrastructure Erna Witoelar said on Wednesday. "State-owned toll road company PT Jasa Marga and Malaysia's DRB-Hi Com are working on the final preparation of the project," she said. "DRB-Hi Com agreed not to ask for tax exemption so that everything will run smoothly.

YLKI begins new debate over 'halal' certification

YLKI begins new debate over 'halal' certification JAKARTA (JP): The Indonesian Consumers Foundation (YLKI) proposed on Wednesday that foodstuff producers label products with warnings alerting consumers to the fact that they contain substances which are forbidden for consumption by Muslims.

'Latitudes' attempts to enlighten readers

'Latitudes' attempts to enlighten readers By I Wayan Juniarta DENPASAR, Bali (JP): What would a writer typically do if he/she is getting fed up of having to sacrifice his/her seemingly ever-flowing ideas and inspiration just to be able to put up with the limited space and taste of, say, a newspaper? Not to mention having to endure the pain of reading his/her 'beautiful' piece of work after being chopped up, re-edited, and re-written in the editorial table in publication. Quit writing, perhaps?

Rupiah Rates Feb.7

Rupiah Rates Feb.7 Bank notes rates TT rates Buying Selling Buying Selling Rp Rp Rp Rp U.S.

Students' rallies

Students' rallies From Media Indonesia Thousands of students from Java and Sumatra in the Students' Executive Body held a long march to the People's Consultative Assembly/House of Representatives (MPR/DPR), after holding a free forum at the University of Indonesia's Salemba campus. This shows they are concerned with the President's administration. The Jan. 29, 2001, student movement did not want to get trapped in the conflict related to President Abdurrhaman Wahid's leadership.

Zoo wall brings protests

Zoo wall brings protests BANDUNG, West Java: Members of the Indonesian Architects Association (IAI) and conservation group Bandung Heritage are protesting the construction of a wall surrounding the zoo. The zoo's management a fortnight ago began chopping down a wire and plant hedge surrounding the zoo located on Jl. Tamansari, and built a three-meter tall wall instead. "Bandung needs city woodland in line with its concept as a garden city. The zoo has been the forest.

Officer arrested over kidnapping

Officer arrested over kidnapping JAKARTA (JP): North Sumatra Police detectives arrested three men on Tuesday, including an officer stationed in Belawan Medan police station, in connection with the kidnapping of two Singaporean nationals from Polonia Airport in Medan. North Sumatra Police chief of detectives Sr. Comr. Iskandar Hasan confirmed the series of events on Wednesday and identified the suspects as Chief Brig.

Persija bows 0-1 to Persita Tangerang

Persija bows 0-1 to Persita Tangerang JAKARTA (JP): Home favorite Persija Jakarta was routed 0-1 by Persita Tangerang in the western division's first round at the 2001 Bank Mandiri soccer league at Benteng stadium, Tangerang, on Wednesday. Persita's Uci Sanusi scored his team's only goal in the 65th minute. "Persita's victory was sheer luck, plus we received unfair treatment from referee M. Saugi ever since the match started, and it demoralized our players," said Persija coach Andi Lala.

After censure: Reform or replay?

After censure: Reform or replay? For the House of Representatives (DPR) to have held a sitting president answerable for alleged corruption without succumbing to executive power or threats from partisan supporters was a historic breakthrough. It strengthened the system of checks and balances. It was the right thing to do. Nevertheless, President Abdurrahman "Gus Dur" Wahid must feel a little like a driver who is stopped by the police for speeding as faster-moving cars pass by.

Four escape Kuta detention

Four escape Kuta detention DENPASAR, Bali (JP): Four inmates escaped from Kuta police subprecinct detention center, some 15 kilometers west of here on Wednesday. The four fugitives were identified as Steven Juki, 26, Novel Burhanuddin, 22, Sofyan Kadir, 19, and Putut Hartanto, 28. Juki was detained for assault and battery while the other three are alleged drug dealers. All of them were detained pending their trial.

Lombok -- the most beautiful place on God's earth

Lombok -- the most beautiful place on God's earth By Stephanie Merrit BALI, Indonesia: "Five dollars," said the man at passport control, sticking a furtive hand through the side of his booth, "or you go home next plane." Admittedly it was down to my bad maths that my passport was three days short of the required six months' validity, but it was three days for goodness sake and, pleasant as the flight had been (as far as an 18-hour flight can be pleasant), I didn't fancy another one immediately.

Parts of Aceh suffer from power blackout

Parts of Aceh suffer from power blackout BANDA ACEH, Aceh (JP): Parts of Aceh were still paralyzed on Wednesday following a power blackout as violence continued to rock the province with two military and police officers shot dead by gunmen. The black out was due to a massive strike by truck drivers in the area that begun on Monday to protest against illegal levies by the police. The protests had led to fuel supply shortages.

Rp 3.4 billion for Padang street kids

Rp 3.4 billion for Padang street kids PADANG: The Asian Development Bank will allocate Rp 3.4 billion this year to support the activities of 11 shelters for street children in Padang, West Sumatra. Head of Social Welfare Program at the provincial office of social affairs Erliza Rupiah Riawati told Antara on Wednesday that each shelter would receive Rp 313 million to be used for scholarships, job training activities and a social workers' honorarium.

ILO calls on Jamsostek to improve its transparency

ILO calls on Jamsostek to improve its transparency BEKASI, West Java (JP): The International Labor Organization (ILO) representative office in Jakarta called on state-owned PT Jamsostek to be more transparent in managing funds it has collected, to win workers' confidence. "A large proportion of workers are no longer confident in Jamsostek because of previously widespread corruption in the company," Uffe Elbaek, chief technical advisor said on Wednesday.

Czech artist Jiri Chmelar wants to grasp infinity

Czech artist Jiri Chmelar wants to grasp infinity By Mehru Jaffer JAKARTA (JP): Czech-born artist Jiri Chmelar has finally made it to Jakarta. He has come to Bali three times in the past, but does not consider those trips as a visit to this country. "That place is not Indonesia. It is not part of this world. Bali is a piece of paradise that is out of this world," the artist told The Jakarta Post minutes after he arrived here all the way from the south of France.

Court verdicts obstruct the law

Court verdicts obstruct the law We are the representative lawyers of a Bank, acting as the plaintiff. There are three verdicts of the South Jakarta District Court which make us very disappointed. First, the Court issued a verdict in favor of a third party who was not a party involved in a case. Supreme Court jurisprudence states that a judgment only has an implication for the parties concerned. This is the summary of the case: where A is the Bank creditor and B is the debtor company.

Absolutely Bali offers look at 'other side' of Bali

Absolutely Bali offers look at 'other side' of Bali JAKARTA (JP): It is true that Bali is more than just white sand, undulating seas, surf and amusement parks or beautiful Balinese girls clad in elaborately gold-embroidered songket lined up in streets ready to attend a religious ceremony in a nearby temple. An increasing number of vacationers are coming to Bali to enjoy ecological, historic and cultural sites as well as social activities during part or most of their stay on the island.

Sinar Mas urged to hand over 'free and clear' assets to IBRA

Sinar Mas urged to hand over 'free and clear' assets to IBRA JAKARTA (JP): The government will not accept as collateral Sinar Mas Group assets that have been pledged to foreign creditors, Indonesian Bank Restructuring Agency (IBRA) deputy chairman Mahmuddin Yasin said on Wednesday. Mahmuddin said IBRA would soon begin a one or two-month due diligence on the list of Sinar Mas assets surrendered as collateral to the agency. "What we want are free and clear assets ...

Government proposes three options to Marubeni

Government proposes three options to Marubeni JAKARTA (JP): The government has proposed three new options to Japan's Marubeni Corp. in a bid to reach an agreement to restructure the overseas debt of petrochemical company PT Chandra Asri, according to an IBRA official.

Military think tank gets first civilian governor

Military think tank gets first civilian governor JAKARTA (JP): Ermaya Suradinata, currently Director General for National Integration at the Ministry of Home Affairs, has been appointed governor of the National Resilience Institute (Lemhannas). He becomes the first civilian to head the military think tank.

Three men killed by police, mob

Three men killed by police, mob JAKARTA (JP): Three alleged criminals were killed, two of them by police bullets, at three separate locations on Tuesday. Jakarta Police chief of detectives Sr. Comr. Harry Montolalu identified two of the men as suspected drug dealer Muhakir alias Bansir, 27, and robbery suspect Hery alias Bencong, 24. According to the police, both were shot while resisting arrest.

New ambassador to Australia nominated

New ambassador to Australia nominated JAKARTA (JP): The government of Indonesia named Sudjadnan Parnohadiningrat, a career diplomat in the Ministry of Foreign affairs as the candidate to fill the vacant ambassadorial post in Canberra. Minister of Foreign Affairs Alwi Shihab confirmed the appointment on Wednesday saying that Sudjadnan, with his experience, is the most appropriate diplomat to hold the position.

Malaysia's Mr Nice Guy no pushover on the political scene

Malaysia's Mr Nice Guy no pushover on the political scene By Karim Raslan KUALA LUMPUR: Today (Wednesday), the most underestimated man in Malaysian politics, Deputy Prime Minister Datuk Seri Abdullah Badawi commences what will be his first major visit to Singapore. Though dubbed, rather dismissively, as "Mr Nice Guy" by the domestic and international media, only the foolish would let themselves be taken in by the sobriquet.

Last three hostages freed by leader of Free Papua Movement

Last three hostages freed by leader of Free Papua Movement JAYAPURA, Irian Jaya (JP): Willem Onde, the leader of the Free Papua Movement (OPM), released on Wednesday afternoon three hostages, including two Koreans, who had been held for 23 days. "Three PT Korindo Merauke employees, including two Korean nationals, were released this afternoon at about 2:45 p.m.

Asian shares lower despite HK, Tokyo rises

Asian shares lower despite HK, Tokyo rises TOKYO (AFP): Share prices in Asian markets were mostly lower Wednesday despite modest rises in the key markets of Tokyo and Hong Kong. In Jakarta, Indonesian share prices closed down 1.3 percent on domestic political concerns after a massive rally by supporters of President Abdurrahman Wahid turned violent in East Java. The Jakarta Stock Exchange composite index was down 5.777 points at 444.333, off a low of 438.673.

Golkar to file lawsuits against government, police

Golkar to file lawsuits against government, police JAKARTA (JP): In response to the torching of several Golkar offices in East Java by supporters of President Abdurrahman "Gus Dur" Wahid, Golkar Party chairman Akbar Tandjung said on Wednesday the party would file lawsuits against the government, the police and those responsible for the attacks. Akbar said at the House of Representative the police and government had failed to prevent the attacks.

Suwandi hopes for the best in Davis Cup tie opener

Suwandi hopes for the best in Davis Cup tie opener JAKARTA (JP): Indonesian best singles Suwandi expressed hope of being able to win over Uzbekistan's Oleg Ogorodov in the opening match of the Davis Cup Group I Asia Oceania tie at the Kemayoran Tennis Center, Central Jakarta, on Friday. "It will be a tough match for me but that doesn't mean that I will go down easily. As the host, we will benefit from playing on the plexi-pave court and the weather is also on our side.

Nine officials punished over Ancol scam

Nine officials punished over Ancol scam JAKARTA (JP): The city administration announced on Wednesday that sanctions would be imposed on nine of the 11 officials investigated in connection with controversial overseas trips made last October. Head of the investigation team from the City Inspectorate Office Sudirman Arifin said the officials, mostly low-ranking staffers, were found guilty of misuse of funds and making the trips without the governor's knowledge.

S'pore reserves total $80.4b

S'pore reserves total $80.4b SINGAPORE (AP): Singapore held US$80.4 billion in official foreign exchange reserves in January, up from $76.1 billion a year ago, the Monetary Authority of Singapore said Wednesday. The trading nation held S$138.8 billion (US$79.4 billion) in gold and foreign exchange, up from 128.5 billion (US$73.5 billion) in January 2000, the authority said in a statement.

Singapore banks move on after Indonesian shock

Singapore banks move on after Indonesian shock SINGAPORE (Dow Jones): As shell-shocked foreign exchange dealers in Singapore recuperate from Bank Indonesia's controversial currency rules which have effectively wiped out the offshore rupiah market, many are bracing for the fallout on the industry.

Abdurrahman dismisses Yusril from Cabinet

Abdurrahman dismisses Yusril from Cabinet JAKARTA (JP): With continuing calls for his resignation, President Abdurrahman Wahid fired on Wednesday Minister of Justice and Human Rights Yusril Ihza Mahendra for disloyalty. The President said he had to "replace" Yusril due to "pressure from within the Cabinet". "Almost all the Cabinet members wanted (Yusril) to resign because they could no longer work with him," Abdurrahman said during a hastily called media conference at Merdeka Palace.

KONI waits for IOC letter on Bob Hasan's fate

KONI waits for IOC letter on Bob Hasan's fate JAKARTA (JP): The National Sports Council (KONI) will wait for an official letter from the International Olympic Committee (IOC) regarding the fate of Indonesia's timber tycoon Mohamad "Bob" Hasan's membership after being convicted of corruption. Hasan, who has been an IOC member since 1994, was sentenced to two years after being found guilty of stealing US$75 million in forestry funds from the Ministry of Forestry.

AIA's new investment product

AIA's new investment product JAKARTA (JP): PT Asuransi AIA Indonesia, a unit of American International Group Inc. (AIG), launched AIA Invest on Wednesday, a new product offering life insurance policy holders various investment alternatives. AIA Invest allows policy holders to select where their funds would be invested, Asuransi AIA Indonesia general manager Chris Lossin told a media conference to mark the company's 25th anniversary.

Stock Exchange

Stock Exchange Stock prices on the Jakarta Stock Exchange (in rupiah) on Feb. 7, 2001: Shares Close Change Trading Volume ------------------------------------------------------------- Ades Alfindo 1,875 -75 297,500 Adindo Foresta Indonesia 125 -15 1,109,000 Alakasa Industrindo 190 -130 101,500 Alfa Retailindo 975 0 117,500 Alter Abadi 115 0 0 Alumindo Light Metal 700 0 0 Andhi Chandra 1,400 0 250,000 Aneka Kimia Raya 190 0 0 Aneka Tambang (Persero) 950 25 1,506,500 Anwar Sierad 300 0 0 APAC...

Ethnic unrest sweeps Vietnam

Ethnic unrest sweeps Vietnam HANOI (AFP): A wave of apparently well-coordinated protest was sweeping Vietnam's central highlands as the region's ethnic minorities vented their anger at the loss of lands to Vietnamese settlers, residents said on Wednesday. Thousands of minority protesters had taken to the streets of the region's main towns over the past few days prompting authorities to launch a major crackdown, residents told AFP.

BEM UI sticks to moral action, upholds reform

BEM UI sticks to moral action, upholds reform JAKARTA (JP): University of Indonesia's Student Executive Body (BEM UI), which leads other student bodies from various universities in anti-President Abdurrahman Wahid rallies here, says its aim is not to force the President to resign. BEM UI chairman Taufik Riyadi said the students would continue with moral and peaceful actions to demand a continuation of the reform agenda.