Swiss group to own 74.5% of Semen Cibinong JAKARTA (JP): The Swiss-based cement group Holcim Ltd., formerly known as Holderbank Financiere Glaris Ltd., plans to raise its stake to 74.5 percent in publicly listed cement producer PT Semen Cibinong, as part of the latter's debt restructuring deal.

OPEC to maintain current output VIENNA (AFP): OPEC is unlikely to increase oil output next month despite a resurgence of prices, but could hold another special meeting to review the situation if they continue to soar, its head said on Wednesday. In an interview, OPEC Secretary General Ali Rodriguez declined completely to rule out a production increase at the June 5 meeting, but noted that OPEC had a price-band mechanism which automatically increased output if prices stayed high.

JP/10/caption JP/Alex Lumi AUTOMOTIVE MEETING: Publicly listed PT Astra International president Theodore P. Rachmat (center) talks to vice president Budi Setiadharma (right), as chief commissioner A.R. Ramly looks on. The automotive giant's shareholders approved in a meeting on Tuesday the appointment of John Stuart Anderson Slack, Prijono Sugiarto and Gunawan Geniusahardja as new directors.

Govt economic policies The Jakarta Post's comment about our country's problems and the government's economic team's performance in an editorial titled Bitter medicine on May 17, contains a number of factual errors. This economic team shares the deep concern of the Post about the consequences of a weakening currency. Since the current Cabinet took office, the economic team has been working hard to implement policies to strengthen the economy and the rupiah.

Govt economic policies The Jakarta Post's comment about our country's problems and the government's economic team's performance in an editorial titled Bitter medicine on May 17, contains a number of factual errors. This economic team shares the deep concern of the Post about the consequences of a weakening currency. Since the current Cabinet took office, the economic team has been working hard to implement policies to strengthen the economy and the rupiah.

Sinar Mas ready to swap assets pledged to IBRA JAKARTA (JP): The Sinar Mas Group said on Wednesday it was willing to replace assets pledged as collateral to the Indonesian Bank Restructuring Agency (IBRA), if the asset pledge violated capital market regulations. Sinar Mas corporate secretary Yan Partawijaya said the group would change the assets if the Capital Market Supervisory Agency (Bapepam) objected to them.

Charity concert a celebration of Verdi's greatness By Y. Bintang Prakarsa JAKARTA (JP): In observance of the centenary anniversary of the death of Giuseppe Verdi (1813-1901), the Mines and Energy Society Bimasena will hold a concert presenting the composer's celebrated operatic pieces. Bimasena, a patron of colossal, patriotic dance and music performances, will donate the proceeds from the price of admission to educating displaced children.

Indonesia's corn import ban to benefit U.S., Thai producers SINGAPORE (Dow Jones): U.S. corn producers are expected to carve a bigger market share in Indonesia's corn market following the country's ban on imports from Argentina and China, industry participants said. Even Thai corn producers, who are expected to export their surplus corn this year, may get a slice of the pie as well, they said. Indonesia imports a high level of corn every year. The U.S.

Back to basics in monetary policy This is the first of two articles on monetary policy by Tubagus Feridhanusetyawan, senior economist and head of economic affairs at the Centre for Strategic and International Studies (CSIS) in Jakarta. JAKARTA (JP): Inflation will reach 11 percent year-on-year this May and recent trends suggest inflation will continue to rise.

Garuda to resume flights to Fukuoka in July JAKARTA (JP): National flagship carrier PT Garuda Indonesia will resume its international flights to Fukuoka early in July to take advantage of the growing demand for travel to this Japanese city. Garuda president Abdulgani said here on Wednesday that the resumption of flights to Fukuoka would bring the airline's total of Japanese destinations to four cities.

Attitude is not everything at Neu Diva bar JAKARTA (JP): Don't be fooled by the name. No self-respecting diva would be caught dead in the Neu Diva bar, plunking her well- toned fanny down on the ratty couch and resting her immaculately clad feet on the cracked and stained concrete floor. No, Neu Diva is a misnomer, which explains why this reviewer, going by the name alone, showed up on a Tuesday night a tad overdressed.

The military and politics Indonesians can sigh a deep breath of relief; the threat of a direct confrontation between the embattled President Abdurrahman Wahid on one side and the military, or TNI, and the House of Representatives on the other has been averted -- for now.

Astra to hedge 20% of debts as 1Q losses surge JAKARTA (JP): Publicly listed auto manufacturer PT Astra International plans to hedge up to 20 percent of its US$800 million in debts, as the rupiah sent its first quarter net loss to Rp 515 billion (about $45.17 million) from last year's Rp 56 billion during the same period. Astra president Theodore "Teddy" P.

Where to go in Jakarta: Friday, May 25, 2001 Exhibitions * Advertising Postcards, Gallery RPC, Jl. Suryo 8 Kebayoran Baru, South Jakarta, until May 31. * Modern Indonesian Literature, Galeri Lontar, Jl. Utan Kayu 68H, East Jakarta (Phone: 8573388), May 31. * Photo Open Boundaries, in collaboration with British Council and Goethe Institute, Italian Cultural Institute, Jl. HOS Cokroaminoto 117, Central Jakarta (Phone: 3927531), Monday to Friday, 9 a.m. to 3 p.m., until May 27.

Summitplast to open third plastic factory next month JAKARTA (JP) : Publicly listed plastic component producer PT Summitplast Interbenua will commence next month the operation of its third factory at its industrial compound in the Lippo Cikarang industrial estate in West Java. Summitplast president Dhani Sutanto said here on Wednesday the new plant, which will have a production capacity of 4,000 metric tons, would boost the company's total production by 15 percent to 32,000 metric tons a year.

Jazz duo Tuck & Patti make beautiful music on and off stage ____________________________________________________________ Singapore hummed to the beat of jazz last weekend during the first Singapore International Jazz Festival. Held at the Suntec City Convention Center from May 18 to May 20, the festival drew crowds of people, including confirmed jazz lovers and those curious to hear more of a musical form still alien to the ears of many in the region.