Indonesian Political, Business & Finance News

Archive: 19 July 2002

68 articles found

Creditors challenge bankruptcy ruling

Creditors challenge bankruptcy ruling Dadan Wijaksana, The Jakarta Post, Jakarta In another test of the credibility of the country's legal system, Exim SB Leasing and Bank Sumitomo Mitsui Indonesia filed an appeal with the Surabaya High Court to challenge a lower court's controversial decision which suspends a bankruptcy ruling against gold producer PT Itamaraya Gold Industry (IGI).

Ambon refugees repatriated

Ambon refugees repatriated AMBON, Maluku: The local provincial government will repatriate at least 4,000 families, who had been displaced following three years of sectarian riots. Izaak Umarella, head of the province's social affairs office, said that 2,225 families would be sent to Southeast Maluku regency, while 1,175 others would be repatriated to Central Maluku regency, Buru island, and Ambon, as the situation had returned to normal.

'I would reject Sutiyoso's accountability speech'

'I would reject Sutiyoso's accountability speech' It's been almost five years since Sutiyoso was appointed governor of Jakarta. But many people do not know much about him or what he has done for the city. Sutiyoso, who presented his accountability speech on Thursday, stated his readiness to govern the city for another term. M.J. Drajadlaksana P.W., a retired employee of a private company. He lives with his wife in Kayu Jati, East Jakarta.

Epidemic kills tons of fish, local breeders hit hard

Epidemic kills tons of fish, local breeders hit hard Nana Rukmana, The Jakarta Post, Kuningan, West Java At least 820 tons of goldfish here have died following an unprecedented epidemic caused by the Aeromanas hydrophila bacterium over the past month, resulting in Rp 3.2 billion (US$35.75 million) in losses.

Sutiyoso and Megawati

Sutiyoso and Megawati From Kompas The political situation in Indonesia has been disappointing for many years and the people are used to it. However, a statement by President Megawati Soekarnoputri that she supports Sutiyoso because he can maintain security in Jakarta is even more disappointing. It is true that the general election in 1999 was safe, but this does not mean that Sutiyoso is capable of making Jakarta safe. And we can also ask, who has said that Jakarta is safe.

1999 vote scandal to go to court

1999 vote scandal to go to court JAKARTA: State prosecutors will soon bring an alleged Rp 5 billion graft case involving former members and staffers of the 1999 General Election Commission (KPU) before the Central Jakarta District Court, spokesman Barman Zahir said on Thursday. The suspects are Bambang Mintoko of the Indonesian Democratic Party; Clara Sitompul of the Indonesian Christian National Party; KPU procurement unit chief Ahmad; and supervision unit chief I Wayan Lasia.

House to complete debate on power bill Friday

House to complete debate on power bill Friday Fitri Wulandari, The Jakarta Post, Jakarta The House of Representatives is expected to complete the deliberation on the power bill on Friday, despite strong protests from non governmental organizations that say the new law will make electricity prices unaffordable. "There are only a few points left to be discussed at the commission.

Girls go too far with hazing ritual

Girls go too far with hazing ritual Leo Wahyudi S, The Jakarta Post, Jakarta Five recent alumni of public high school SMU 82 were named suspects by the police on Thursday for going too far with a traditional hazing ritual targeted at 17 of their younger former schoolmates. All the suspects and victims were girls. Chief of the Kebayoran Baru Police sub precinct Comr.

Japanese firms take ads to new heights

Japanese firms take ads to new heights Tantri Yuliandini, The Jakarta Post, Jakarta The Russian Soyuz TM-33 rocket blasts off into space leaving a trail of fire on the horizon. A glimpse of the blue Earth below is seen from space. An astronaut looks out the window, and leisurely sips some Pocari Sweat from a squeeze bottle.

Parents, fostered children must be same religion

Parents, fostered children must be same religion Kurniawan Hari, The Jakarta Post, Jakarta The House of Representatives delayed on Thursday the endorsement of the Child Protection bill because it needs more time to accommodate criticisms and opinions submitted by a number of different groups. A team assigned to deliberate the bill will continue its discussions at the next session of the House, scheduled to take place from Aug. 16 to Sept. 27.

PDI Perjuangan weakened by its own leader

PDI Perjuangan weakened by its own leader The Jakarta Post, Jakarta Internal rifts in the Indonesia Democratic Party of Struggle (PDI Perjuangan) have surfaced of late, and, if not dealt with properly, could weaken the country's largest political party. And the trigger for these rifts is the very person who made the party as powerful as it is -- Megawati Soekarnoputri, the party's chairwoman.

1. Komnas: 8 x 4 lines

1. Komnas: 8 x 4 lines Komnas members 'should not be selected by House' 2. PPP: 20 x 2 lines PPP looks set to nominate Hamzah Haz as president 3. Trial: 36 x 1 line: Abilio asserts innocence in E. Timor massacre 4. UN: 24 x 2 lines UN probe into RI judiciary likely to up pressure on govt

Poso, Jakarta bombs linked: Kalla

Poso, Jakarta bombs linked: Kalla Jupriadi, The Jakarta Post, Makassar, South Sulawesi A series of bombings that rocked the fragile peace in the Central Sulawesi town of Poso recently could have links with a number of blasts that jolted Jakarta this year, Coordinating Minister for People's Welfare Jusuf Kalla said on Thursday. Kalla arrived at the conclusion given similarities in the method, bomb-making materials and appliances used by the perpetrators of the incidents in Poso and Jakarta.

Sugarcane no longer sweet for farmers

Sugarcane no longer sweet for farmers F. Rahardi, Agribusiness Working Forum (FKA), Jakarta It is not only today that sugarcane growers have had a raw deal. High levels of sugar imports, including raw sugar, is only one factor that has been detrimental to sugarcane producers. No matter how high the duties on sugar imports, this policy will not in itself improve the welfare of sugarcane growers. Sugarcane (Saccharum officinarum L) is a commodity with a long, dark history for growers in East Java.

STOCK EXCHANGE

STOCK EXCHANGE --------------------------------------------------------------------------- Stock Prices on the Jakarta Stock Exchange (in rupiah) on July 18, 2002 ----------------------------------------------------------------------------- Trading Shares Close Change Volume ----------------------------------------------------------------------------- Abdi Bangsa Tbk 270 0 0 Ades Alfindo Tbk 1,075 0 5,000 Adindo Foresta 40 0 1,500 AGIS Tbk 105 -5 2,115,000 Akbar Indo Makmur 365 0 0 Alakasa...

Decree on SME restructuring a risk to banks

Decree on SME restructuring a risk to banks A'an Suryana, The Jakarta Post, Semarang The plan to issue a presidential decree on the restructuring of bad debts owed by small and medium enterprises (SMEs) could create serious problems for banks, according to experts.

Expensive education

Expensive education From Media Indonesia When a new school semester starts, parents generally have a headache because they have to spend a lot of money on ensuring that their children will get a good education. Subsequently, of course, there is no guarantee that these children will later get a job that will suit their education. As a parent, I can only wonder why education in Indonesia has become not only very expensive but is also in almost total disarray.

Asian currencies down late, U.S. stock gains boost dollar

Asian currencies down late, U.S. stock gains boost dollar Alan Yonan Jr., Dow Jones, Singapore The U.S. dollar firmed slightly against most Asian currencies Thursday, helped by a rare gain in U.S. stock prices and concerns that Japanese monetary authorities might take action to prop up the dollar against the yen.

PPP looks set to nominate Hamzah Haz as president

PPP looks set to nominate Hamzah Haz as president Muhammad Nafik, The Jakarta Post, Jakarta The United Development Party (PPP), the country's third largest party, decided on Thursday to hold its congress early in 2003, with the reelection of Vice President Hamzah Haz as party chairman and his nomination in the 2004 presidential election likely to be on the agenda. The decision was made in a plenary session before the three- day meeting closed on Thursday.

Megawati keeping authoritarianism alive, say critics

Megawati keeping authoritarianism alive, say critics Muhammad Nafik and Fabiola Desy Unidjaja, The Jakarta Post, Jakarta President Megawati Soekarnoputri, once a popular opposition leader, has developed authoritarian and aloof traits during her one year as the nation's leader, a tendency that could undermine democracy, say analysts.

Thousands protest against Sutiyoso

Thousands protest against Sutiyoso Muninggar Sri Saraswati, The Jakarta Post, Jakarta Thousands of people from all walks of life, from becak (pedicab) drivers and street vendors to bankers and stock exchange brokers, staged rallies in different parts of the city to object to Governor Sutiyoso's accountability speech, which was presented before the City Council on Thursday.

Farmers greet delayed cloud seeding

Farmers greet delayed cloud seeding TEMANGGUNG, Central Java: Tobacco farmers are happy with the government's decision to delay cloud seeding in the province, a farmer association leader said here on Thursday. The chairman of the Tobacco Farmers and Traders Association in Temanggung, Iriyanto, said rains resulting from cloud seeding would disrupt farmers, who are currently harvesting their crops.

Vengeful cop shoots student after quarrel

Vengeful cop shoots student after quarrel Nani Farida, The Jakarta Post, Banda Aceh, Aceh A chemical engineering student died six hours after an angry police officer shot him in the head following a quarrel and short motorcycle chase involving the two here on Thursday. Emergency surgery conducted by doctors at Zainal Abidin Hospital failed to save the life of Muhammad Iqbal, 23, a student at Syah Kuala University's school of chemical engineering.

PAS wins by-election, UMNO takes lead in another

PAS wins by-election, UMNO takes lead in another Agencies Pendang, Malaysia Malaysia's Islamic opposition beat Prime Minister Mahathir Mohamad's ruling alliance in a by-election for an assembly seat on Thursday and built an early lead in counting for a parliamentary seat in the veteran leader's home state. But Mahathir's ruling United Malays National Organization (UMNO) made up ground and pulled more than 200 votes ahead.

Students, teachers go on strike

Students, teachers go on strike BANDUNG: Some 650 students and 80 teachers of state-run Senior High School 5 (SMU) in the West Java regency of Cimahi went on strike on Thursday after they were denied access to the school. The students just sat in the schoolyard while their teachers assembled in the teacher's room, waiting for news from the local education office.

Latest attempt to clear haze may be just hot air

Latest attempt to clear haze may be just hot air Sharmilpal Kaur, The Straits Times, Asia News Network, Singapore Even as the United States wrapped up its battle against what has been described as the biggest wildfire in the state of Arizona, the 10 member countries of the Association of Southeast Asian Nations (ASEAN) were in the midst of ratifying the first treaty they have signed together to combat the perennial haze problem.

Children present fine classical dance drama

Children present fine classical dance drama I Wayan Juniartha and Mas Ruscitadewi, The Jakarta Post, Denpasar, Bali On that night, the star of the Arja dance drama performance was Cok Istri Ari Sariati, and there was not one single scintilla of doubt to counter that claim. Her movements were polished and true to the complicated conventions of the classical dance drama.

STOCK EXCHANGE

STOCK EXCHANGE --------------------------------------------------------------------------- Stock Prices on the Jakarta Stock Exchange (in rupiah) on July 16, 2002 ----------------------------------------------------------------------------- Trading Shares Close Change Volume ----------------------------------------------------------------------------- Abdi Bangsa Tbk 270 0 0 Ades Alfindo Tbk 1,075 0 5,000 Adindo Foresta 40 0 1,500 AGIS Tbk 105 -5 2,115,000 Akbar Indo Makmur 365 0 0 Alakasa...

STOCK EXCHANGE

STOCK EXCHANGE --------------------------------------------------------------------------- Stock Prices on the Jakarta Stock Exchange (in rupiah) on July 18, 2002 ----------------------------------------------------------------------------- Trading Shares Close Change Volume ----------------------------------------------------------------------------- Abdi Bangsa Tbk 270 0 0 Ades Alfindo Tbk 1,075 0 5,000 Adindo Foresta 40 0 1,500 AGIS Tbk 105 -5 2,115,000 Akbar Indo Makmur 365 0 0 Alakasa...

'House should not have say in selection of Komnas team'

'House should not have say in selection of Komnas team' Fabiola Desy Unidjaja, The Jakarta Post, Jakarta A minister and others expressed firm opposition to the appointment procedure carried out by the House of Representatives to select members of the National Commission for Human Rights (Komnas HAM).

Students learn to bond together

Students learn to bond together BOGOR: More than 3,600 new students of 16 vocational schools in the town of Bogor participated on Thursday in an orientation program at the Pajajaran sports stadium, aimed at preventing student brawls. During the one-day program, students got to know each other, took part in sports and prayed together. At the end of the day, the students were divided into groups, depending on where they lived. Head of the local education and teaching agency Yamin M.

Abilio asserts innocence in E. Timor massacre

Abilio asserts innocence in E. Timor massacre Tertiani ZB Simanjuntak, The Jakarta Post, Jakarta East Timor's former governor, Abilio Soares, told the ad hoc human rights trial here on Thursday pleaded not guilty to massacres in the former province three years ago, saying the United Nations Mission in East Timor (UNAMET) should be held responsible for all legal consequences before and after the 1999 independence ballot.

Sutiyoso blames public for his failure

Sutiyoso blames public for his failure Ahmad Junaidi, The Jakarta Post, Jakarta Jakarta Governor Sutiyoso delivered his accountability speech on Thursday, citing poor public discipline as the cause of various unsolved problems, including security, transportation, floods, and garbage.

S&P ups BNI foreign credit rating

S&P ups BNI foreign credit rating JAKARTA: Standard & Poor's has raised its long-term foreign currency counterparty credit rating on P.T. Bank Negara Indonesia (Persero) Tbk. two notches to single-'B'-minus from triple-'C'. The company said in a statement available on Dow Jones Newswires the upgrade reflects the improvement in the bank's profile, particularly in respect of asset quality and operating profitability, over the past 18 months.

Nias Open back in spotlight

Nias Open back in spotlight Apriadi Gunawan The Jakarta Post Medan After being canceled last year due to flooding in the area, the Ya'ahowu international surfing championship will return to Nias with the seventh edition of the annual event slated to run from July 26 to July 28. Sixty surfers from Indonesia and other countries are expected to participate in the competition at the Soroke Lagundria beach. A total of Rp 60 million in cash prizes will be up for grabs.

Cineplex Group accused of unfair business practices

Cineplex Group accused of unfair business practices Damar Harsanto, The Jakarta Post, Jakarta An antimonopoly watchdog filed a complaint with the Business Competition Supervisory Agency (KPPU) over alleged unfair business practices by the 21 Cineplex Group, whose majority shareholder is tycoon Sudwikatmono, a cousin of former president Soeharto.

Rp 63b for Bekasi infrastructure

Rp 63b for Bekasi infrastructure BEKASI: The administration of Bekasi regency has allocated Rp 63 billion (more than US$7 million) from the 2002 budget for the development of infrastructure, including the repair of roads and the construction of drainage. A councillor, Beny Nilwan, said that among the projects was the repair of roads in the villages of Tambun, Kebalen, Cikarang and Babelan, which were damaged in the floods.

Nias Open surf event back in spotlight

Nias Open surf event back in spotlight Apriadi Gunawan, The Jakarta Post, Medan After being canceled last year due to flooding in the area, the Ya'ahowu international surfing championship will return to Nias with the seventh edition of the annual event slated to run from July 26 to July 28. Sixty surfers from Indonesia and other countries are expected to participate in the competition at the Soroke Lagundria beach. A total of Rp 60 million in cash prizes will be up for grabs.

Palaguna not to seek third term

Palaguna not to seek third term MAKASSAR, South Sulawesi: South Sulawesi Governor HZB Palaguna will not run for a third successive five-year term because he has tendered his resignation. The provincial administration spokesman, Syamsuddin, said on Wednesdaythe governor, whose term of office will expire on Jan. 19 next year, submitted his resignation to President Megawati Soekarnoputri on Monday.

Councillors upset by regent's speech

Councillors upset by regent's speech BOGOR: Councillors in the Bogor regency are upset about a speech given by Regent Agus Utara Efendi during the council's plenary session on Wednesday, which they feel belittled and insulted them. The councillors said they were hurt by the regent's words and had demanded a written explanation from Agus.

RI woman escapes baby trade syndicate in Kuching

RI woman escapes baby trade syndicate in Kuching The Jakarta Post, Jakarta The trading of Indonesian babies in East Malaysia is no mere rumor but is in fact taking place under the noses of both the Indonesian and Malaysian authorities. Rub, a 20-year-old woman from Darit in the West Kalimantan regency of Pontianak, told how she escaped a Malaysian syndicate in the Malaysian city of Kuching. The syndicate had already purchased her unborn baby.

Indonesia's next economic recession just around the corner

Indonesia's next economic recession just around the corner Hans W. Vriens, Managing Director, PT APCO Indonesia, Jakarta A sad picture appeared on the front page of The Jakarta Post on July 6. Some 500 workers of a factory producing Reebok shoes protested in front of the U.S. Embassy. They demanded that the embassy take "moral responsibility" following an unexpected termination of orders for Reebok shoes placed with the Bandung factory.

Watching the U.S. nervously

Watching the U.S. nervously The rash of corporate and accounting scandals in the United States will surely have a negative impact on Indonesia, which sells more than 22 percent of its exports to the world's largest economy. The immediate impact is already discernible in the declining value of the dollar and the almost 5 percent fall in stock prices on Wall Street over the last few days. With an estimated half of all households in the U.S.

Choking haze from RI fires forces southern Thais indoors

Choking haze from RI fires forces southern Thais indoors Agence France-Presse, Bangkok Haze from forest fires in Indonesia has blanketed parts of southern Thailand, prompting health authorities to advise residents to stay indoors to escape the choking air.

* Headlines: PDI Perjuangan weakened by its leader 3

* Headlines: PDI Perjuangan weakened by its leader 3 * National:PPP set to nominate Hamzah president 4 * Archipelago:Student shot dead in Aceh 5 * City: Cineplex accused of unfair business 8 * Opinion: Sugarcane no longer sweet for farmers 7 * Sports: Nias Open surf event back in spotlight 10 * World: Israel not to ease military crackdown 12 * Business:IBRA hopes to collect $2b 13 * Features:Retno Maruti to bring epic to life17

Drought sparks skin irritation

Drought sparks skin irritation KEBUMEN, Central Java: The ongoing drought here has forced residents of no less than 37 villages in this regency to drastically reduce their consumption of water to basic needs only. Many of the villagers are refraining themselves from wasting water for bathing or washing. "Finding drinking water is difficult enough, so just think what it is like for bathing.

Ten dead in Kalimantan plane crash

Ten dead in Kalimantan plane crash Agencies, Jakarta All 10 passengers and crew aboard a plane that crashed in dense East Kalimantan jungle have been found dead, officials said Thursday. Rescue teams who reached the crash site reported that all eight passengers and the two crewmen had died, said Zainuddin Chairuddin, head of Tarakan airport from where the aircraft departed on Tuesday morning. "We received news that all 10 had died," said Zainuddin said.

Young people get antidrug training

Young people get antidrug training JAKARTA: Some 250,000 school-aged children and 2000 youth leaders across the country have been trained to assist in the national antidrug campaign, the Love the Nation's Children Foundation (YCAB) said on Thursday. YCAB chairman Veronica Colondam said that the young people were expected to be in the vanguard in the war against drugs in their neighborhoods and schools. The training was provided in cooperation with the National Narcotics Board (BNN).

Audit agency should be empowered: Activists

Audit agency should be empowered: Activists Bambang Nurbianto, The Jakarta Post, Jakarta Anti-corruption activists say widespread corruption in procurements of goods and services in most units of the city administration cannot be stopped due to the alleged involvement of the City Audit Agency (Bawasda). They say officials at the agency are not obliged to disclose their findings on irregularities on certain procurements.

Honda to start exporting Stream

Honda to start exporting Stream Adianto P. Simamora, The Jakarta Post, Jakarta PT Honda Prospect Motor, the local sole agent for Japan's third- largest carmaker, Honda Motor Co Ltd., announced on Thursday plans to start exporting Stream minivans to Thailand next month. "The first shipment will be in August, totaling some 180 vehicles. But next year we will increase it up to 360 vehicles per month," Satoshi Okomoto, vice president of Honda Prospect Motor, announced on Thursday.

Rupiah Rates July 18

Rupiah Rates July 18 JP/13/Conver Rupiah Rates July 18 Bank notes rates TT rates Selling Buying Selling Buying Rp Rp Rp Rp U.S.

Govt to go ahead with state of emergency in Aceh

Govt to go ahead with state of emergency in Aceh Tiarma Siboro, The Jakarta Post, Jakarta The government is still pursuing its plan to impose a state of emergency in the restive province of Aceh, ignoring strong opposition from the provincial administration, councillors and students as well as non-governmental organizations there.

No rice for Timorese refugees

No rice for Timorese refugees Yemris Fointuna, The Jakarta Post, Kupang Hopes for East Timorese refugees to escape starvation went up in smoke in just 24 hours on Thursday as the East Nusa Tenggara administration announced it did not have enough rice for them. The news came after a Wednesday statement by the provincial administration's spokesman Johanis B. Kosapilawan, who said that the local government had agreed to distribute rice to the refugees based on need.

STOCK EXCHANGE

STOCK EXCHANGE --------------------------------------------------------------------------- Stock Prices on the Jakarta Stock Exchange (in rupiah) on July 16, 2002 ----------------------------------------------------------------------------- Trading Shares Close Change Volume ----------------------------------------------------------------------------- Abdi Bangsa Tbk 270 0 0 Ades Alfindo Tbk 1,075 0 5,000 Adindo Foresta 40 0 1,500 AGIS Tbk 105 -5 2,115,000 Akbar Indo Makmur 365 0 0 Alakasa...

Sugarcane no longer sweet for farmers

Sugarcane no longer sweet for farmers F. Rahardi Agribusiness Working Forum (FKA) Jakarta 2. Hans -- The next economic recession is just around the corner 1 X 50 RI's next economic recession just around the corner Hans W. Vriens Managing Director PT APCO Indonesia Jakarta 3. Yomi -- Political fund reform needed 1 X 36 Drastic political fund reform needed The Daily Yomiuri Asia News Network Tokyo

Indonesia's unreformed military

Indonesia's unreformed military American military cooperation with Jakarta, suspended during the Soeharto dictatorship over the Indonesian Army's human rights abuses, should not be resumed without strict conditions and careful controls. Unfortunately, the Bush administration is in a hurry to restore ties with the Indonesian military and seems willing to overlook misconduct in the name of strengthening the war against terrorism.

UT to run postgraduate program

UT to run postgraduate program JAKARTA: The state-run Indonesian Open Learning University (Universitas Terbuka or UT) said on Thursday that it would commence postgraduate courses for working people in 10 cities across the country through an e-learning program. "We want to help those in the regions who cannot afford to attend higher education institutes in person," Atwi Suparman, the university's rector, said on the sidelines of a seminar titled Technology in the Learning Process.

Traders protest at City Hall

Traders protest at City Hall JAKARTA: Hundreds of vendors from Kenari market in Central Jakarta rallied at City Hall on Thursday to seek help in their dispute with the market management. The vendors urged the city market authority, PD Pasar Jaya, which formerly managed the market, to step in and help resolve the dispute. The vendors charged that PT Bina Citra Tataswasti, which has managed the market since 1998, has sealed off their kiosks.

The mystery of judges' wealth

The mystery of judges' wealth There are many mysteries on this planet. One of them is how the officials of this country, including Commercial Court judges, became so wealthy. This mystery has long remained a puzzle. But now the answer is about to be revealed. That is what the Public Servants' Wealth Audit Commission (KPKPN) is going to do to the three Commercial Court judges who presided over the bankruptcy case of insurance company PT Asuransi Jiwa Manulife Indonesia.

UN probe into Indonesian judiciary likely to up pressure on government

UN probe into Indonesian judiciary likely to up pressure on government Berni K. Mustafa, The Jakarta Post, Jakarta Legal experts have welcomed the presence of the United Nations' special rapporteur on the Indonesian judicial system, saying it should increase the pressure for legal reform amid mounting criticism that the government is not doing enough.

IBRA hopes to collect more than $2b from loan sale

IBRA hopes to collect more than $2b from loan sale The Jakarta Post, Jakarta The Indonesian Bank Restructuring Agency (IBRA) is optimistic it can obtain at least Rp 20 trillion (about US$2.21 billion) in proceeds from the current sale of some Rp 145 trillion in bank loan assets.

Astra to meet creditors this month

Astra to meet creditors this month JAKARTA: PT Astra International, Indonesia's largest car maker, will meet with creditors later this month to discuss a debt restructuring plan for the company. Astra currently has debt worth $726 million and 881 billion rupiah (US$98 million), with annual payments due until 2006. But the company is seeking ways to reduce this burden. It will meet with creditors in Singapore July 31, when it is expected to offer several debt restructuring options.

Government set to phase out bank guarantee program

Government set to phase out bank guarantee program Dadan Wijaksana, The Jakarta Post, Jakarta The government is set to gradually terminate its costly blanket guarantee for bank deposits and claims, starting in January, 2003, in a bid to help remove "moral hazards" and minimize the cost of any bank failures to the state.

PKB faction has new chairman

PKB faction has new chairman JAKARTA: National Awakening Party (PKB) faction chairman in the House of Representatives (DPR) Ali Masykur Musa on Thursday handed over his post to fellow legislator Rodjil Ghufron. In his speech, Ali issued an apology to the public at large for the failure of the PKB faction to push for the establishment of a committee of inquiry into a Rp 40 billion scandal involving House Speaker and Golkar chairman Akbar Tandjung.

1. Mitsui (4x12)

1. Mitsui (4x12) Creditors challenge bankruptcy ruling 2. IBRA (2x28) IBRA hopes to collect more than $2b from loan sale 3. SME (1x54) Decree on SME restructuring a 'risk to banking industry'

What Jakarta's governor must do

What Jakarta's governor must do From Sinar Pagi Whoever is elected governor of Jakarta for the 2002-2007 period should improve the social, economic, security and educational conditions of this capital city. They must also, as former Jakarta governor Ali Sadikin said in an interview with Tempo magazine in its June 24-30 edition, revive youth centers. During the 1970s, every municipality had a youth center.

Kornelius Purba

Kornelius Purba Staff Writer The Jakarta Post Jakarta korpur@yahoo.com 2. Haze -- Latest attempt to clear haze may be just hot air 2 X 30 Latest attempt to clear haze may be just hot air Sharmilpal Kaur The Straits Times Asia News Network Singapore

Singapore, RI torn between love and hatred

Singapore, RI torn between love and hatred Kornelius Purba, Staff Writer, The Jakarta Post, Jakarta, korpur@yahoo.com How does one deal with a giant but poor neighbor who continues to whine about your arrogance and carelessness and that you have become rich from their sweat? Do you just let them express frustration, or do you try to learn some of the possible truths behind their claim and improve your attitude?