Indonesian Political, Business & Finance News

Archive: 7 April 2004

68 articles found

Singaporean stage set for smooth power transfer

Singaporean stage set for smooth power transfer Seah Chiang Nee, The Star, Asia News Network, Selangor, Malaysia Five years ago, he appeared bald and physically weak before the press talking of his battle with cancer that he contracted in 1992. His future was under a cloud. Flashing his boyish smile, Lee Hsien Loong last week spoke to a Chinese-language newspaper, touching on different subjects.

Elections of no consequence for prostitutes

Elections of no consequence for prostitutes Agus Maryono, The Jakarta Post, Purwokerto, Central Java "Why would we be confused about which party to vote for? It's no big deal. It's better to be on my back, because we get money. What's the point of voting if there are no changes?" says Yuni (not her real name), 25, a pretty, plump and fair-skinned woman from Cirebon, West Java.

RI opposes U.S. deployment in Malacca Straits

RI opposes U.S. deployment in Malacca Straits Tiarma Siboro, The Jakarta Post, Jakarta Indonesia has joined Malaysia in opposing a United States plan to deploy troops in the Malacca Straits, arguing that Indonesia and Malaysia were solely responsible for guarding one of the world's busiest waterways.

Files on one BNI suspect accepted, rest rejected: Police

Files on one BNI suspect accepted, rest rejected: Police P.C. Naommy, The Jakarta Post, Jakarta The police's role in handling the BNI scam would appear to be wanting after the Jakarta Prosecutor's Office accepted on Tuesday the case file on one of the suspects in the scam, but rejected the files of another three suspects due to lack of evidence.

IMF responsible for Indonesian crisis

IMF responsible for Indonesian crisis Ronnie H. Rusli, Senior Lecturer, Postgraduate Program, University of Indonesia, Jakarta Ross Mcleod of Australian National University must be lauded for his two-part incisive article in The Jakarta Post on March 17 and 18 on the "transfers of wealth between entities within the economy" from the erroneous management and resolution of the banking crisis. This is a refreshing admission from a respected observer of Indonesian affairs.

Sidiq gets 3 months for extortion

Sidiq gets 3 months for extortion JAKARTA: The head of the Al-Tauhid Islamic boarding school in Kediri, East Java, Abdullah Sidiq Muin, was sentenced to three months imprisonment by the Central Jakarta District Court on Tuesday after he was found guilty of swindling former president Soeharto's son Hutomo "Tommy" Mandala Putra to the tune of Rp 2.9 billion (US$341,177).

4 x 14

4 x 14 Six ships laden with illegal logs enter Malaysia daily JP/5/KAPAL 2 x 26 Five Thai ships nabbed for poaching off Bawean island JP/5/SECT 1 x 45 Sect leader jailed for besmirching Christianity JP/5/ENAK 1 x 45 Elections no big deal for Baturaden prostitutes or Elections of no consequence for Baturaden prostitutes

Constitutional change needs referendum

Constitutional change needs referendum Kurniawan Hari, The Jakarta Post, Jakarta The Constitutional Commission has scrapped the authority of the People's Consultative Assembly (MPR) to amend the Constitution, arguing that the MPR as an institution will no longer exist.

Religion not prominent in Indonesian polls

Religion not prominent in Indonesian polls Thang D. Nguyen, The Straits Times, Asia News Network, Singapore Indonesia held its general elections, which will be followed by a presidential election set to take place in July. Unlike the recent elections in neighboring Malaysia, which were filled with piety politics, religion does not dominate election campaigns in Indonesia, home to the world's largest Muslim population.

'I don't mind rate hike, I use office telephones'

'I don't mind rate hike, I use office telephones' The government has allowed telephone operators PT Telekomunikasi Indonesia (Telkom) and PT Indonesia Satellite Corporation (Indosat) to raise local telephone rates by up to 28 percent, but it has yet to set a date when the new rates would be introduced. The Jakarta Post talked to some residents about the issue. Feri, 32, is a civil servant and working at the database unit at City Hall.

Papua lags behind on tabulation

Papua lags behind on tabulation Nethy Darma Somba, The Jakarta Post, Jayapura, Papua After election delays in many parts of Papua, the country's easternmost province is now facing belated ballot counting due its isolation, a lack of computers and expertise about tabulation procedures. The Papua Regional Elections Commission (KPUD) said on Tuesday it had not yet received results of the ballot counting from the province's polling stations where voting took place largely without incident on Monday.

Dengue cases still high in West Jakarta

Dengue cases still high in West Jakarta Bambang Nurbianto, The Jakarta Post, Jakarta The number of dengue fever patients at city-run Tarakan Hospital, Central Jakarta, keeps increasing, although the figure has decreased at state-run Cipto Mangunkusumo general hospital (RSCM) in Central Jakarta and city-run Budhi Asih Hospital, Cawang, East Jakarta. Data at Tarakan Hospital showed that the number of dengue patients was 62 on Tuesday compared with 53 on Monday and 54 on Saturday.

1. BAASYIR: 50 pt, 4 cols, 2 x 24

1. BAASYIR: 50 pt, 4 cols, 2 x 24 Terrorists' testimonies to be used to quiz Ba'asyir 2. KL: 36 pt, 3 cols, 2 x 21 Malaysia hits back over Thai terrorism charges 3. DENGUE: 30 pt, 4 cols, 1 x 32 Dengue cases still high in W. Jakarta 4. ROAD: 28 pt, 3 cols, 2 x 27 Safety audit urgent to reduce vehicular accidents: Police

Fire guts vessel in Semarang

Fire guts vessel in Semarang SEMARANG: A wooden cargo vessel caught fire at around 8:30 a.m. while docked at Tanjung Emas Port in Semarang, Central Java, on Tuesday. No casualties or injuries were reported however. The fire on the KLM Cahaya Sulastri caused hundreds of millions of rupiah in damage. The vessel's captain, Samsul, said the problem started after an electric lamp started a fire in the cabin of a crew member, which then quickly spread.

Busway drivers to get dormitory

Busway drivers to get dormitory JAKARTA: Busway operator PT Jakarta Express Trans (JET) has built a dormitory for drivers who live far from the busway depot in Pinang Ranti, East Jakarta. The dormitory will open next week. PT JET finance director Ibnu Susanto recently announced completion of the dormitory's construction. "The purpose is to provide rooms for the drivers to sleep.

SIA to outsource, divest after major restructure

SIA to outsource, divest after major restructure Agence France-Presse, Singapore Singapore Airlines (SIA) will outsource some basic services and may divest key units as part of a major restructure that the nation's political powerbroker, Lee Kuan Yew, has ordered, reports said on Tuesday.

Housewife as a career

Housewife as a career From Media Indonesia In a recent television talk show in conjunction with International Women's Day on March 8, there was a discussion on the extent to which being a housewife can be considered a career. The anchor of the talk show said that it was time to stop belittling women who filled in the occupation column of their identity cards with the word "housewife".

Grave violations reported during election in Aceh

Grave violations reported during election in Aceh Tiarma Siboro, The Jakarta Post, Jakarta Several local non-governmental organizations (NGOs) reported vote buying on Tuesday allegedly committed by political parties ahead of the April 5 poll.

ummary Perolehan Suara Partai Untuk DPR RI

ummary Perolehan Suara Partai Untuk DPR RI No Urut Nama Partai Jumlah % 1 Partai Nasional Indonesia Maehaenisme 20,153 0.67 2 Partai Buruh Sosial Demokrat 10,563 0.35 3 Partai Bulan Bintang 53,856 1.80 4 Partai Merdeka 16,985 0.56 5 Partai Persatuan Pembangunan 201,008 6.71 6 Partai Persatuan Demokrasi Kebangsaan 45,129 1.50 7 Partai Perhimpunan Indonesia Baru 10,988 0.36 8 Partai Nasional Banteng Kemerdekaan 28,813 0.96 9 Partai Demokrat 315,529 10.54 10 Partai Keadilan Dan Persatuan Indonesia...

Stock prices on the Jakarta Stock Exchange (in rupiah) on April 6, 2004

Stock prices on the Jakarta Stock Exchange (in rupiah) on April 6, 2004 _________________________________________________________________________ Shares Close Change Trading Volume ___________________________________________________________________________ Abdi Bangsa Tbk 275 0 0 Ades Alfindo Tbk 1,000 50 108,000 Adhi Karya 270 70 58,570,000 Adira Dinamika 2,175 75 6,738,000 AGIS Tbk 135 5 2,800,500 Akbar Indo Makmur 85 0 2,500 Alakasa Industrindo 135 0 0 Alfa Retailindo Tbk 950 0 0 Alter Abadi...

ASEAN to discuss weak U.S. dollar

ASEAN to discuss weak U.S. dollar Yeoh En-Lai, Associated Press, Singapore With their economies still smarting from the last Asian economic crisis, Southeast Asian finance ministers are expected to meet Wednesday to discuss the dangers of the softening U.S. dollar, America's towering budget deficit and plans to form a European Union-style economic community.

Technical glitches force reruns

Technical glitches force reruns The Jakarta Post, Jakarta Delayed elections were held in some areas of the country on Tuesday after poll equipment was made available there, while in many other areas repeated elections proceeded without a hitch. It was reported earlier that only some isolated areas of Papua, Nanggroe Aceh Darussalam and East Nusa Tenggara had to delay voting scheduled for April 5.

Susilo like a new, cute girl at school

Susilo like a new, cute girl at school Tiarma Siboro and Rendi A. Witular, The Jakarta Post, Jakarta Susilo Bambang Yudhoyono is now like a pretty young girl courted by young and even old men. As his Democratic Party is showing a clear sign that it has become an alternative for voters who are fed up with the performance of the more established parties, the retired general is now being approached by many parties.

Safety audit urgent to reduce vehicular accidents: Police

Safety audit urgent to reduce vehicular accidents: Police Evi Mariani, The Jakarta Post, Jakarta One recent afternoon after heavy downpour in the capital, Yopi, 27, was traveling along the road in Pesing, West Jakarta, on his way to Soekarno-Hatta International Airport in Cengkareng when his motorcycle hit a deep water-filled pothole. "I was lucky, thank God, the accident did not do me much harm, I could stand again immediately, I rode the motorcycle again." he recalled.

Voters want change in government

Voters want change in government Moch. N. Kurniawan, The Jakarta Post, Jakarta Though the vote count from Monday's legislative election is still in the early stages, the gains of two new parties indicate the desire for serious political reform, according to observers.

The emergence of two new stars

The emergence of two new stars The legislative election has been conducted nationwide, although with several delays in a number of remote areas due to problems with the delivery of election materials. However, early tallies in several polling stations have indicated the surprise emergence of two newcomers -- the Democratic Party and the Islam-based Prosperous Justice Party (PKS) -- both posting with significant results.

Phone rate hike could create monopoly in Internet sector

Phone rate hike could create monopoly in Internet sector Dewi Santoso, The Jakarta Post, Jakarta The government's recent phone rate hike decision, which was aimed at ending the monopoly in the fixed line telecommunications sector, could create a monopoly in the internet sector, a monopoly watchdog has warned.

Malaysia denies Thai charges

Malaysia denies Thai charges Agencies, Kuala Lumpur Malaysia showed growing irritation on Tuesday over charges by Thai Prime Minister Thaksin Shinawatra that it is harboring Muslim separatist terrorists. Defense Minister Najib Razak said there was apparently no truth to claims that bombers and gunmen responsible for attacks in southern Thailand had crossed the border into mainly-Muslim Malaysia.

Mooryati takes lead in Jakarta

Mooryati takes lead in Jakarta Eva C. Komandjaja, The Jakarta Post, Jakarta In the direct election for Jakarta candidates for a new body called the Regional Representatives Council (DPD), cosmetics queen Mooryati Soedibyo ruled the ballot counting on Tuesday with 30,674 votes as of 8 p.m. By then only some 3.9 percent of Jakarta's expected 6,478,005 votes had been counted. Final results are expected in a few days. Mooryati is the founder and owner of PT Mustika Ratu, a cosmetics firm.

Land acquisition bogs down canal project

Land acquisition bogs down canal project Damar Harsanto, The Jakarta Post, Jakarta The city administration blamed residents near the site of the proposed East Flood Canal for the slow progress in its construction, arguing that the price demanded for land acquisition was too high. In response to the City Council's criticism of his annual budget speech, Governor Sutiyoso said on Tuesday that, as a consequence, the administration had made little progress in clearing the land to build the canal.

Sidiq gets 3 months for extortion

Sidiq gets 3 months for extortion JAKARTA: The head of the Al-Tauhid Islamic boarding school in Kediri, East Java, Abdullah Sidiq Muin, was sentenced to three months imprisonment by the Central Jakarta District Court on Tuesday after he was found guilty of swindling former president Soeharto's son Hutomo "Tommy" Mandala Putra to the tune of Rp 2.9 billion (US$341,177).

Bogor to have new mayor

Bogor to have new mayor BOGOR: Bogor mayor-elect Diani Budiarto and his deputy, Mochamad Sahid, are to be sworn into office on Wednesday, despite allegations Sahid had used a fake high school diploma in his candidacy. Their induction is based on a decree signed by Minister of Home Affairs Hari Sabarno on March 30. The minister said the case should be handled by the Bogor Council, who elected the pair. Diani and Sahid won the most votes in the election on Jan.

Moch. N. Kurniawan

Moch. N. Kurniawan The General Elections Commission (KPU) admitted that a small number of polling stations in at least six provinces had failed to hold election on Monday due to various problems ranging from late arrivals of ballot papers to transportation difficulties.

Bank Indonesia cuts overnight rate

Bank Indonesia cuts overnight rate The Jakarta Post, Jakarta Bank Indonesia cut on Tuesday the overnight money market rate by 25 basis points to 7 percent, a move that may trigger a further cut in the central bank's benchmark interest rate. The cut came following the country's peaceful legislative elections on Monday. The overnight money market rate is the return Bank Indonesia offers commercial banks for keeping excess funds at the central bank.

Terrorists' testimonies to be used to quiz Ba'asyir

Terrorists' testimonies to be used to quiz Ba'asyir P.C. Naommy and Blontank Poer, The Jakarta Post, Jakarta/Surakarta Testimonies by suspected terrorists now detained in neighboring countries will be used to investigate elderly cleric Abu Bakar Ba'asyir's involvement in terrorist activities, an officer says.

Stock prices on the Jakarta Stock Exchange (in rupiah) on April 6, 2004

Stock prices on the Jakarta Stock Exchange (in rupiah) on April 6, 2004 _________________________________________________________________________ Shares Close Change Trading Volume ___________________________________________________________________________ Abdi Bangsa Tbk 275 0 0 Ades Alfindo Tbk 1,000 50 108,000 Adhi Karya 270 70 58,570,000 Adira Dinamika 2,175 75 6,738,000 AGIS Tbk 135 5 2,800,500 Akbar Indo Makmur 85 0 2,500 Alakasa Industrindo 135 0 0 Alfa Retailindo Tbk 950 0 0 Alter Abadi...

Lawyers to report police to human rights commission

Lawyers to report police to human rights commission Evi Mariani, The Jakarta Post, Jakarta Lawyers of defendant Gunawan Santosa intend to report the Jakarta Police on Wednesday to the National Commission on Human Rights (Komnas HAM) for the unjust treatment of their client. Gunawan -- a murder defendant -- is shackled by the hands and feet to the bedposts while receiving medical treatment at Soekanto Police Hospital in Kramat Jati, East Jakarta.

People eager for presidential election

People eager for presidential election The Jakarta Post, Jakarta Regardless of the public's suspicion that campaign promises are made to be broken, Monday's legislative election was marked by the high turnout of voters. Some international media hailed the election, which was contested by 24 parties, as peaceful, despite its logistical shortcomings. If people have no faith in the candidates, what compelled them to vote?

* Headlines: Elections please international observers 2

* Headlines: Elections please international observers 2 * National: House, govt to discuss Kyoto Protocol 4 * Archipelago: Log smuggling to Malaysia rampant 5 * Opinion: Singaporean set stage for smooth power transfer 7 * City: Armed robbery cases on public transport rising 8 * Sports: Serena win marks return to script 9 * World: China stamps its authority on Hong Kong 11 * Business: Qantas enters Asian low-cost airline fray 16 * Features: Exercise key to teen weight problem 18

Five Thai ships nabbed for poaching off Bawean island

Five Thai ships nabbed for poaching off Bawean island ID Nugroho, The Jakarta Post, Surabaya, East Java The Indonesian Navy has apprehended five Thailand-registered ships for alleged poaching in Indonesian waters near Bawean island, about an hour by boat from Surabaya, the capital of East Java province, an official said on Tuesday. The five ships, all displaying the Thai flag, were arrested on Sunday morning by the Navy's Tanjung Dalpele warship. Lt. Col.

Stern train measures needed

Stern train measures needed From Warta Kota Recently, the economy class electric train from Bekasi to Jakarta, which is supposed to leave Bekasi station at 2 p.m., usually does not depart until 2:30 p.m. The railway authorities must take stern measures to ensure that the trains keep to their departure schedule. SUGIARTI Bekasi, West Java

Lazy PLN meter-readers

Lazy PLN meter-readers From Koran Tempo My home's electricity is supplied by the state-owned electricity company (PLN) of Kebon Jeruk area. Between November 2003 and January 2004, no PLN officer came to my house to record my power consumption. For each of those months I paid only the subscription fee of Rp 39,130. A PLN officer came to my house to record my power consumption only after I lodged a complaint. My February bill stood at Rp 166,600.

Job seekers invited to Japan

Job seekers invited to Japan PALANGKA RAYA, Central Kalimantan: The local manpower office is encouraging job seekers to take part in selection tests for apprenticeships in Japan, an official said on Tuesday. The Central Kalimantan deputy manpower office head Kiwok D. Rampay said the program took place every year, and was part of the effort to reduce unemployment in the province. Those needed for the program were graduates in all disciplines from senior high schools and universities, Kiwok added.

The price of democracy

The price of democracy Generally, the legislative election has taken place smoothly and peacefully, despite its shortcomings. While casting votes for the country's legislative bodies, and later for the president, is the people's right, the people must also respect and accept the results of the polls in a manner consistent with democracy. Winning -- and losing -- is commonplace in a democratic system.

Six ships laden with illegal logs enter Malaysia daily

Six ships laden with illegal logs enter Malaysia daily Rusman, The Jakarta Post, Samarinda, East Kalimantan Six ships laden with illegal logs enter Malaysia territory daily from Indonesia, costing the Indonesian timber industry dearly, an official has said. Nusyirwan Ismail, an official at the East Kalimantan Development and Social Welfare Office, recently lamented that no action has ever been taken by law enforcers, although the practice was so evident. "I witnessed it myself in Tawao.

KL checks budget for arms wish list

KL checks budget for arms wish list MALAYSIA: Kuala Lumpur is in the market for an airborne early warning system, surface vessels and tactical communications equipment but must determine its budget first, defense minister Najib Razak said on Tuesday. "Our shopping list is quite extensive. No defense ministry has a small shopping list," Najib told a news conference to publicize the biennial Defense Services Asia exhibition to be held in Kuala Lumpur next week.

Witness tells of military torture

Witness tells of military torture JAKARTA: A witness told the ad hoc human rights tribunal hearing the Tanjung Priok incident of 1984 of the torture of a group of protesters at a military detention center in Cimanggis district in the West Java regency of Bogor. Witness M. Nur, a local cleric, told the court that during his detention after the incident, he observed that a number of fellow detainees were seriously injured.

Pekalongan receives dengue award

Pekalongan receives dengue award SEMARANG: The Pekalongan administration in Central Java received an award from the Ministry of Health for its success in preventing an outbreak of dengue fever. "We hope that other regions in Central Java will emulate the success of Pekalongan in eradicating dengue," Central Java health office head Krishnajaya said in the provincial capital of Semarang.

TV station faces police probe

TV station faces police probe JAKARTA: The Indonesia Broadcasting Commission (KPI) announced on Tuesday that it would file a report against private TV station Metro TV with the police, for airing party campaign advertisements during the cooling-off period. The KPI claimed that the station had broadcast the campaigns of the Indonesia Democratic Party of Struggle (PDI-P) and the National Awakening Party (PKB) on April 3. "On April 3, Metro TV aired a PDI-P advertisement at 12:10 a.m and 12:36 a.m.

Poll officials dazed by sluggish data entry

Poll officials dazed by sluggish data entry The Jakarta Post, Jakarta It will become more and more difficult for the General Elections Commission (KPU) to continue making defensive statements about the chaotic logistical distribution and the unpreparedness of KPU's lowest-ranking officials working at polling stations.

Famous figures dominate votes for DPD race

Famous figures dominate votes for DPD race The Jakarta Post, Jakarta A recognizable face seem to be worth a great deal in the race for Regional Representatives Council (DPD) seats across the country, as the preliminary vote counting saw big names take the lead. As of 11 p.m. on Tuesday, Ginandjar Kartasasmita headed the poll in West Java province with 23,876 votes out of around 300,000 ballots counted. Ginandjar is one of the country's longest serving ministers.

Indonesians abroad not keen to take part in poll

Indonesians abroad not keen to take part in poll Fabiola Desy Unidjaja, The Jakarta Post, Jakarta Indonesian voters living abroad have shown little interest in the legislative election, with as little as 10 percent of the more than 400,000 registered voters estimated to have exercised their rights, Minister of Foreign Affairs Hassan Wirayuda said on Tuesday. These registered voters made up only 23 percent of the total number of Indonesians known to live in foreign countries, Hassan said.

Changing times: A model for the 2009 elections?

Changing times: A model for the 2009 elections? Rob Goodfellow, CAPSTRANS Visiting Fellow, University of Wollongong New South Wales, Australia, sujoko@ozemail.com.au Endy M. Bayuni, Deputy Chief Editor, The Jakarta Post, made the telling observation this week that: "When ballots were cast in the General Election held across Indonesia on Monday, most voters did not know why they were selecting a particular party or certain candidates".

KPU asked to void memo on ballot counting

KPU asked to void memo on ballot counting The Jakarta Post, Jakarta The election supervisory body called on the General Elections Commission on Tuesday to retract an official memo, which states that the counting of dozens of ballot papers intended for other electoral districts was legal, arguing that such a measure was in violation of the Election Law.

UOB to buy Bank Buana shares

UOB to buy Bank Buana shares Rendi A. Witular, The Jakarta Post, Jakarta United Overseas Bank Ltd. (UOB), Singapore's second largest bank, announced on Tuesday it was seeking to acquire a 23 percent stake in Indonesia's mid-sized Bank Buana in a bid to gain access to the country's market of 210 million people. The planned acquisition is part of a rising number of foreign takeovers in the country's medium-sized banking sector.

TV Program: Wednesday, April 7, 2004

TV Program: Wednesday, April 7, 2004 .TB.30" 1.00" TVRI .TB.30" .90" 6:00 a.m. News: Berita Pagi 7:00 Cartoon 7:30 Music 9:00 TV Drama 10:00 Entertainment News: Show Biz 11:00 Singing Contest: Konteswara 12:00 p.m.

Minister to discuss Bestari case

Minister to discuss Bestari case JAKARTA: State Minister of the Environment Nabiel Makarim said on Tuesday he would discuss the arrest of environmentalist Bestari Raden and his possible transfer to Banda Aceh or Jakarta, with National Police chief Gen. Da'i Bachtiar soon.

Moody's sees Indian economy flat at 6.5%

Moody's sees Indian economy flat at 6.5% Associated Press, New Delhi India's economy is likely to grow at 6.5 percent in the coming years, international credit rating agency Moody's Investors Service said on Tuesday, just three months after it gave India an investment-grade rating for the first time.

Mangrove trees cut down, firms summoned

Mangrove trees cut down, firms summoned Damar Harsanto, The Jakarta Post, Jakarta Three companies have been summoned by a joint investigative team led by the City Agricultural and Forestry Agency over the felling of at least 200 mangrove trees along the Sedyatmo toll road in Kapuk, North Jakarta. The trees were reportedly cut down to make billboards along the toll road more visible to passing motorists. "We have sent summonses to three companies as witnesses in this case.

RI's THC 75% higher than neighboring countries

RI's THC 75% higher than neighboring countries Abdul Khalik, The Jakarta Post, Jakarta In its latest bid to bail out the country's troubled textile industry, the government has set up a task force, comprising the government and the business community, to identify problems in the industry and find solutions.

RI's THC 75% higher than neighboring countries

RI's THC 75% higher than neighboring countries Abdul Khalik The Jakarta Post Jakarta In its latest bid to bail out the country's troubled textile industry, the government has set up a task force, comprising the government and the business community, to identify problems in the industry and find solutions.

JP/1/HEADING

JP/1/HEADING 1. DELAY: 1 LINE, 25 COUNTS Technical glitches force reruns 2. ROUND: 1 LINE, 24 COUNTS Golkar topples PDI-P in tally 3. JAKARTA: 1 LINE, 24 COUNTS Mooryati takes lead in Jakarta 4. STOCK: 1 LINE, 40 COUNTS Peaceful election boosts market sentiment

Woori bids for LG Securities

Woori bids for LG Securities SEOUL: South Korea's second largest banking firm, Woori Financial Group, on Monday confirmed it was bidding to take over LG Investment and Securities Co. Ltd. "Woori submitted an official letter of intent to take over LG Investment and Securities on Friday," a Woori Bank official said without elaborating. State-run Korea Development Bank (KDB), which is in charge of the open bidding, said it wants to receive concrete offers by early May and wind up the deal by July.

Golkar leads the tally; PDI-P lowers its target

Golkar leads the tally; PDI-P lowers its target The Jakarta Post, Jakarta Joy filled the ranks of the Golkar Party as early tallies by late Tuesday indicated that the party of the former regime was leading with 20.54 percent of the vote, trailed by the Indonesian Democratic Party of Struggle (PDI-P) with 18.22 percent. The figures were for the election for the House of Representatives (DPR).

Bali ex-official faces prison for land fraud

Bali ex-official faces prison for land fraud Wahyoe Boediwardhana, The Jakarta Post, Denpasar, Bali Prosecutor Made Mudita demanded on Tuesday that the Denpasar District Court sentence a former official of the Bali land agency (BPN) to one year in jail for alleged graft. I Gede Pasek Arsadja ought also to be fined Rp 20 million (US$2,352) for illegally taking over 116,950 square meters of state-owned land as private property, Mudita told the court.

;JP;RLT;CD;

;JP;RLT;CD; ANPAk..r.. Editorial-Election-Indonesia Voting day lessons JP/6/6EDIT-07 Message delivered With only around one percent of ballots tallied as of yesterday evening (Tuesday, April 6), it may seem premature at this early stage to comment on the lessons that Monday's legislative election convey -- to the nation and to the world, but most importantly, to the players involved in this quinquennial "feast of democracy." And yet, a number of circumstances have already emerged, bearing a...

Bumiputera to complete stake sale next month

Bumiputera to complete stake sale next month Urip Hudiono, The Jakarta Post, Jakarta The sale of a majority 58.41 percent stake in Bank Bumiputera is expected to be completed in May, according to a senior officer of the mid-sized bank. "According to the divestment plan schedule, our new investor will hopefully be determined in May," marketing director Toto Moeljono said on Tuesday on the sidelines of a launching ceremony for the company's latest customer appreciation program.

Big business may be stuck with bill to color code kerosene

Big business may be stuck with bill to color code kerosene Fitri Wulandari, The Jakarta Post, Jakarta Large companies and factories that use kerosene may have to shoulder the cost of color coding subsidized kerosene for households under a new government plan, according to a minister.