Indonesian Political, Business & Finance News

Archive: 21 November 2000

60 articles found

New Taiwan dollar, won hammered, rupiah slips

New Taiwan dollar, won hammered, rupiah slips SINGAPORE (Dow Jones): The New Taiwan dollar and South Korean won were hammered Monday by falling stock prices, softness in the yen and a slew of other negative news. Elsewhere, the Singapore dollar, Indonesian rupiah and the Thai baht slipped, while the Philippine peso strengthened. The Indonesian rupiah closed flat Monday, but traded lower for most of the day on concerns over the central bank's independence, dealers said.

Doyok gets one year jail term

Doyok gets one year jail term TANGERANG (JP): Comedian Sudarmadji, popularly known as Doyok, was sentenced on Monday to a one-year jail term for illegal use of 0.5 grams of shabu-shabu (crystal methamphetamine). The Tangerang District Court, presided over by Rukmini also fined the 41-year-old lanky comedian Rp 1 million or serve an additional three months in jail. The verdict was three months lighter than the sentence demanded by prosecutor Nandi Warsidi.

House to amend central bank law

House to amend central bank law JAKARTA (JP): The House of Representatives decided late on Monday to amend the central bank law in an effort to remove the legal obstacle over plans to replace Bank Indonesia Governor Sjahril Sabirin. House deputy speaker Tosari Widjaja said that House Commission IX on state budget and finance would study the central bank law and submit revisions to the consultative body to be debated and finalized. "The amendment will take place immediately ...

Thailand's social security net to cover 10m people

Thailand's social security net to cover 10m people BANGKOK (DPA): Thailand's social security scheme will cover about 10 million workers, or almost 30 percent of the workforce, by early next year, Thai Prime Minister Chuan Leekpai said on Monday.

Attorney General: Four graft cases found in oil contracts

Attorney General: Four graft cases found in oil contracts JAKARTA (JP): The Attorney General's office said on Monday that thus far it has found only four contracts entered into by state oil and gas company Pertamina during former President Soeharto's era with "preliminary evidence of corruption".

Vietnam general warns of plots after Clinton visit

Vietnam general warns of plots after Clinton visit HANOI (Reuters): A day after a historic visit to Communist Vietnam by U.S. President Bill Clinton in which he urged greater political openness, a top Hanoi general has warned of plots by hostile forces to undermine socialism. In a front-page article published in an official newspaper, Lt. Gen.

RP rebels free teacher, 2 children

RP rebels free teacher, 2 children ZAMBOANGA, Philippines (AP): Abu Sayyaf guerrillas have released unharmed a teacher and her two children from 12 days of captivity in a forest in the southern Philippines, officials said on Monday. Military officials said the three were freed without ransom Saturday in Sumisip in Basilan province after local officials negotiated with the Abu Sayyaf guerrillas. Army troops are now hunting the rebels, officials said.

Villagers ponder whereabouts of missing rice

Villagers ponder whereabouts of missing rice BANDUNG (JP): While the reform movement may have provided the momentum for the introduction of a more transparent governmental system with an open atmosphere, nevertheless vestiges of the old corrupt, collusive and nepotistic practices still prevail. Desperate times breed desperate officials and recent cases in the West Java area continue to reveal flagrant abuses of power at the expense of tens of thousands of people.

Hyundai rescue plan gets thumbs-up from creditors

Hyundai rescue plan gets thumbs-up from creditors SEOUL (Reuters): South Korea's cash-strapped Hyundai Engineering and Construction got an initial thumbs-up from its main creditor on Monday after announcing its sixth rescue plan of the year. After delaying the announcement from Friday, the country's biggest builder said that Hyundai Group would raise 1.3 trillion won ($1.14 billion) and speed up moves to spin off affiliates.

House allows lawyer's presence in hearing

House allows lawyer's presence in hearing JAKARTA (JP): All factions at the House of Representatives (DPR) agreed on Monday that witnesses to be questioned for the State Logistics Agency (Bulog) and Brunei government aid scandals could have their attorneys present. In its plenary session, House deputy speaker A.M. Fatwa said, however, that the lawyers did not have the right to speak at the hearings.

Vietnam poses a new threat in pencak silat

Vietnam poses a new threat in pencak silat JAKARTA (JP): Vietnam has emerged as a threat to neighboring countries at the Southeast Asian (SEA) Games including the event's powerhouses Indonesia and Thailand specially in Indonesia's traditional martial art pencak silat.

Nokia to switch S'pore M1 mobile network to GSM

Nokia to switch S'pore M1 mobile network to GSM LONDON (AFX): Nokia said it has landed a contract -- worth up to US$290 million over 5 years -- to replace Singapore mobile operator Mobile One (Asia) Pte's existing CDMAOne network with a GSM one, and then build a third generation mobile network on top of it. The deal means that all Singapore's mobile networks will use GSM technology, as well as the W-CDMA 3G technology favored in most Japanese networks and all European ones.

Rupiah Rates Nov. 20

Rupiah Rates Nov. 20 Bank notes rates TT rates Buying Selling Buying Selling Rp Rp Rp Rp U.S.

Residents protest to laundry firm

Residents protest to laundry firm BOGOR (JP): Residents of Kedung Halang subdistrict north of here are complaining about their polluted wells, which they suspect to have been caused by PT Laundry Nusantara Jaya laundry service company. "The company's fluid waste has run into our wells, turning the color of the water blueish with offensive smell like a rotten egg," Maesaroh, a resident who lives just next to the company, said on Monday.

Summitplast plans new factory

Summitplast plans new factory JAKARTA (JP): PT Summitplast Interbenua, a plastic component producer, will build its third factory in its industrial compound in the Lippo Cikarang industrial estate next year. The company said on Monday that it would spend about Rp 50 billion (about US$5.4 million) for the construction of the new factory. About Rp 32 billion of the total fund for the new factory would come from the proceeds of the company's recent initial public offering (IPO).

S'pore, RI begin naval exercises

S'pore, RI begin naval exercises SINGAPORE (AFP): Singapore and Indonesia on Monday began an eight-day joint naval exercise, the defense ministry here said in a statement. Codenamed Ex Eagle, the exercise being held in Singaporean waters includes a frigate, an anti-submarine escort vessel and two "fast patrol boats" from the Indonesian navy. The Singapore navy is operating a missile corvette, a missile gunboat, an anti-submarine patrol vessel and a missile naval escort vessel.

Ministers told to delay overseas trips

Ministers told to delay overseas trips JAKARTA (JP): Vice President Megawati Soekarnoputri has forbidden all Cabinet ministers from making overseas trips in December. Minister of Foreign Affairs Alwi Shihab said on Monday after a Cabinet meeting at Bina Graha presidential office, presided over by Megawati, that the order had been issued "a few days ago". He was not specific on the date. Without elaborating, Alwi said the instruction was made to help ministers concentrate on domestic matters.

Consistent at being inconsistent

Consistent at being inconsistent President Abdurrahman Wahid said recently that it was premature to evaluate his government's performance after a period of only 12 months. That statement is clear proof of how consistent he is at being inconsistent. Only some weeks later, Hamzah Haz resigned from the first Cabinet following the President's allegation that some members were involved in practices of corruption, collusion and nepotism.

PBSI delays closure of training center

PBSI delays closure of training center JAKARTA (JP): Due to calls from the national shuttlers, the Badminton Association of Indonesia (PBSI) agreed on Monday to delay the closure of the national centralized training center. PBSI had intended to close the training center on Monday but agreed to delay the move until Dec. 16 to enable the players to prepare for the National Interclub Championships in Banjarmasin, South Kalimantan from Jan. 9 to Jan. 14.

Stock Exchange

Stock Exchange Stock prices on the Jakarta Stock Exchange (in rupiah) on Nov. 20, 2000: Shares Close Change Trading Volume ------------------------------------------------------------ Ades Alfindo 2,525 25 1,750,500 Adindo Foresta Indonesia 105 0 75,000 Alakasa Industrindo 350 0 0 Alfa Retailindo 1,025 -25 1,836,500 Alter Abadi 165 0 0 Alumindo Light Metal 900 0 0 Aneka Kimia Raya 280 0 0 Aneka Tambang (Persero) 1,000 0 3,237,000 Anwar Sierad 300 0 0 APAC Centertex Corp.

TV today

TV today TVRI 5:00 a.m. Religious Teachings 6:00 News 8:00 Children's Program 8:30 Music 9:00 Interval 12:00 p.m. Interval 2:00 News 2:30 Children's Program 3:00 Music 4:00 News 4:30 Talk Show 5:30 TVRI News 6:00 Sports 6:30 Music 7:00 Evening News 7:30 TV Drama 8:00 Talk Show 9:00 News 9:30 TV Drama 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 8:30 Documentary TPI 5:30 a.m.

Monthly minimum wage to rise by 30 percent in eight provinces

Monthly minimum wage to rise by 30 percent in eight provinces JAKARTA (JP): The official monthly minimum wage levels in eight provinces will rise by an average of about 30 percent as of Jan. 1, 2001.

Council likely to demand nightspots close one month

Council likely to demand nightspots close one month JAKARTA (JP): City councillors are likely to recommend the closing of several entertainment centers and nightspots in the capital during the upcoming Muslim fasting month of Ramadhan, a source at the council said on Monday.

Defendant in exam leak gets 10 months

Defendant in exam leak gets 10 months JAKARTA (JP): Defendant Dwi Santoso, 25, was calm on Monday when the judge sentenced him to a mere 10-month jail term, after declaring him guilty of stealing master copies of the national high school final examinations (Ebtanas) last March. "The defendant is guilty of leaking confidential state documents. He has however confessed to his crime, is quite young and has never had any problems with the law before," Presiding Judge M.

SE Asia still struggling as ASEAN summit nears

SE Asia still struggling as ASEAN summit nears SINGAPORE (AP): In Indonesia, separatist violence, pervasive corruption and massive corporate debt are derailing hopes for a full recovery from the worst economic crisis in three decades. In the Philippines, President Joseph Estrada's impeachment on corruption charges is battering business confidence. And a weak currency, high oil prices and bad bank loans in Thailand are dealing serious blows to the economy.

UNDP helps resettlement projects in torn Maluku

UNDP helps resettlement projects in torn Maluku JAKARTA (JP): The Ministry of Settlement and Regional Infrastructure in cooperation with the government of Netherlands launched on Monday a US$2 million peace-building project on Kai islands in riot-torn Maluku.

RI and Japan's relations toward the 21st century

RI and Japan's relations toward the 21st century Question: First, what is your impression of the past year in Indonesia? Indonesia is now in a period of profound transformation towards democratization. Lots of significant events are taking place. For example, now the annualized meeting of the MPR took place for the first time in August.

KL futures exchanges to merge

KL futures exchanges to merge KUALA LUMPUR (Reuters): Malaysia's two remaining futures exchanges will sign a deal to merge by the end of this year, the head of the Kuala Lumpur Options and Financial Futures Exchange (KLOFFE) said on Monday. "I can't tell the exact date but definitely within this year," KLOFFE executive chairman Ramli Ibrahim told reporters. "Only the MoU has been signed so we will sign the agreement before the end of this year," he added.

House near to approving Bangka-Belitung province

House near to approving Bangka-Belitung province JAKARTA (JP): The Bangka-Belitung islands are edging closer to winning approval to become a province after Minister of Home Affairs and Regional Autonomy Surjadi Sudirdja and a special House of Representatives committee inked a note to forward a bill for deliberation.

Joint advertisements

Joint advertisements From Media Indonesia Allow us to inform readers that the Indonesian Bank Restructuring Agency (IBRA) has never appointed any institution to act as an IBRA executive team of joint advertisements for whatever reason.

Speculative buying lifts KL palm oil

Speculative buying lifts KL palm oil KUALA LUMPUR (Reuters): Speculative buying lifted Malaysia's palm oil futures on Monday and prevented prices from falling despite weak November 1-20 export figures, traders said. The benchmark third-month February futures contract ended up 16 ringgit at 867 ringgit (US$228.15) a ton after trading as low as 855. Market volume stood at 872 lots compared with 581 at the close on Friday. "It's purely speculation.

Family members questioned over Tommy's absence

Family members questioned over Tommy's absence JAKARTA (JP): The wife and sister of Hutomo "Tommy" Mandala Putra were grilled for about 10 hours on Monday at the National Police Headquarters over the disappearance of the youngest son of former president Soeharto.

BCA profit more than triples

BCA profit more than triples JAKARTA (JP): Publicly listed Bank Central Asia (BCA) reported nearly 400 percent increase in pretax profit in the first nine months of this year to Rp 1.03 trillion (about US$141 million). The pretax profit for the January-September period represented an increase of 340 percent from the pretax profit of Rp 234.29 billion in December last year.

Civilian guards seek new job

Civilian guards seek new job MAKASSAR, South Sulawesi: At least 250 members of the civilian guards or Kamra rallied at the provincial legislative council on Monday to express their fears of an uncertain fate following their dismissal. Claiming to represent 2,000 Kamra in the province, the protesters asked the provincial councilors to urge the government to provide them with new jobs when their contract expires on Dec. 31.

Leaders and ignorance

Leaders and ignorance From Rakyat Merdeka When President Abdurrahman "Gus Dur" Wahid and his assistants bow their heads and put out their hands, palms up, begging the International Monetary Fund for mercy, members of the House of Representatives and councilors, wearing a tie with a gold insignia pinned on their chest, walked, chest forward and head up, into a star-rated hotel, lugging their expensive briefcases, or took an expensive trip to spend hundreds of millions of rupiah.

Two-thirds of billboards illegal: Official

Two-thirds of billboards illegal: Official JAKARTA (JP): Almost two-thirds of the current 27,171 advertisement billboards erected at several places in the capital are without proper permits or with expired permits, an official said on Monday. The City Revenue Agency chief Deden Supriyadi said 805 of the 18,854 "problematic" billboards would be brought down soon since they were erected without any permits at all.

Manulife sues Roman Gold, Gondokusumo

Manulife sues Roman Gold, Gondokusumo JAKARTA (JP): PT Asuransi Jiwa Manulife Indonesia (AJMI) said on Monday it had filed criminal suits against Suyanto Gondokusumo, the principal of Dharmala Sakti Sejahtera (DSS) group, and British Virgin Islands-based firm Roman Gold Assets over a share purchase dispute.

Wahid arranging talks with Moro: Estrada

Wahid arranging talks with Moro: Estrada MANILA (AP): Indonesia's president has contacted a Moro rebel leader and is arranging talks between him and Philippine President Joseph Estrada, Estrada said on Monday. Estrada said Indonesian President Abdurrahman Wahid offered last week at a summit of Asian Rim leaders in Brunei to serve as a go-between in arranging talks between the Philippine president and Salamat Hashim, head of the Moro Islamic Liberation Front.

Taxis charging old fares told to display stickers

Taxis charging old fares told to display stickers JAKARTA (JP): The City Land Transportation Agency (DLLAJ) has asked the Organization of Land Transportation Owners (Organda) to put special stickers on cabs managed by companies refusing to charge the new fare. DLLAJ chief Buyung Atang said after sending a copy of the letter to Organda on Monday that the sticker would be an indication to passengers that the taxis were charging the former fare.

No freedom for Aceh, Irian Jaya: Susilo

No freedom for Aceh, Irian Jaya: Susilo JAKARTA (JP): The unitary state of the Republic of Indonesia is final, so there is no opportunity for Aceh and Irian Jaya to become independent, Coordinating Minister for Political, Social and Security Affairs Susilo Bambang Yudhoyono said on Monday. Responding to journalists' questions of a plan by certain parties' to declare Irian Jaya and Aceh independent on Dec. 1 and Dec.

12,000 children malnourished

12,000 children malnourished SEMARANG: As of October this year nearly 12,000 children in Central Java are malnourished and 56 of them have died, an activist said on Monday. Head of the Central Java Children's Protection Institute, Siti Aminah, said malnutrition has affected 37 regencies, with Grobogan, Rembang, Sukoharjo, Wonogiri and Tegal the hardest-hit areas.

BNI to extend more credits

BNI to extend more credits JAKARTA (JP): Publicly listed Bank Negara Indonesia (BNI) plans to extend Rp 6 trillion (about US$645 million) in new loans next year, bank president Saifuddien Hasan said Monday. Saifuddien said credit extended this year amounted to some Rp 4.5 trillion. He said most of the credits would be given to small and medium size enterprises.

Floods hit 1,470 houses

Floods hit 1,470 houses BANDUNG: At least 1,470 houses in five villages at Baleendah and Pamengpeuk districts in Bandung regency were inundated in the early hours of Monday following a massive overflow from Citarum river. Among villages badly submerged in the natural disaster was Kampung Papak Gede in Andir subdistrict, in which the water level reached three meters high.

Penitentiary guard arrested for drugs

Penitentiary guard arrested for drugs JAKARTA (JP): Police have arrested a guard at Cipinang Penitentiary for his role in distributing drugs to prisoners, Jakarta Police Criminal Investigation chief Sr. Supt. Harry Montolalu said on Monday. "The guard, Mardiono, was suspected of smuggling drugs into the prison, which were then distributed among the prisoners," Harry said from police headquarters.

The saga of the central bank

The saga of the central bank After analyses concluded that the weak central bank fully controlled by the government was one of the main culprits of Indonesia's financial crisis in late 1997 and the consequent banking collapse in 1998, the then B. J. Habibie administration and the House of Representatives worked at full speed to enact in May 1999 a new central bank law that granted full autonomy (political independence) to Bank Indonesia.

Telkom plans to lay off workers

Telkom plans to lay off workers JAKARTA (JP): State-owned telephone operator PT Telekomunikasi Indonesia (Telkom) is considering laying off some 3,000 to 4,000 workers to improve efficiency and raise the company's value, a source has said. Antara newswires reported on Sunday that the dismissals, in the form of an early retirement program, would be targeted at employees in the lower levels.

Pelti criticized over SEAG plan

Pelti criticized over SEAG plan JAKARTA (JP): The Indonesian Tennis Association's (Pelti) decision to include veteran women's players Yayuk Basuki, Romana Tedjakusuma, Liza Andriyani and another world-class player Wynne Prakusya in the 2001 Southeast Asian (SEA) Games training program is under criticism.

Chiyoda, Ebara to tie up

Chiyoda, Ebara to tie up TOKYO (AFX-ASIA): Ebara Corp and Chiyoda Corp will jointly build incineration, water-processing and other facilities in Southeast Asian and other overseas nations, the Nihon Keizai Shimbun reported, citing sources close to the plan. The two companies are considering setting up a joint venture for the purpose, it said. Under the alliance, Chiyoda will take charge of engineering work and buying materials necessary for overseas projects, it said.

Ancient resin still supports North Sumatrans

Ancient resin still supports North Sumatrans By Diana Parsell BOGOR, West Java (JP): Once described by Middle Eastern traders as the "frankincense of Sumatra", benzoin (kemenyan) from Indonesia has been sold for more than a thousand years in markets around the world. The fragrant gum resin, produced by several species of Styrax trees, is used in incense, perfume and medicine and as a flavoring agent.

Where to go in Bandung:

Where to go in Bandung: Exhibitions * Fine Art, Painting by Popo Iskandar and Djuariah Iskandar, at Griya Seni Popo Iskandar, at Jl. Dr. Setiabudhi 268 (Phone: 022 2013662), until Dec. 8. * Fine Arts Exhibition, Liyan by Nindityo Adipurnomo, at Selasar Seni Sunaryo, Jl. Bukit Pakar Timur no. 100 (Phone: 022 2507939), until Dec. 3. Performances * Sundanese Drama Palagan Bubat by Ringkang Gumiwang group, Gedung Kesenian Rumentang Siang, Jl.

Gen. Wiranto denies any foreknowledge of East Timor

Gen. Wiranto denies any foreknowledge of East Timor MAKASSAR, South Sulawesi (JP): Gen. (ret.) Wiranto brushed aside here on Monday foreign news reports that he knew before hand of the terror tactics which were to be unleashed in East Timor in September last year. "Who says?" remarked Wiranto when asked by The Jakarta Post on Monday. "I question the validity of such a remark," he added.

Traffic jam

Traffic jam From Kompas Every morning I pass from Jl. Lontar to Jl. Petamburan Raya, West Jakarta, and there are a lot of violations so the traffic becomes confused. Minivans and city buses turn at forbidden places following directions given by individuals popularly known as Pak Ogah. More trying is the fact that the minivans stop at will on the right side of the road and invite passengers to step in, and minivan drivers hinder other competing vehicles, striving for passengers.

Remains of slain ex-communist activists found in Wonosobo

Remains of slain ex-communist activists found in Wonosobo JAKARTA (JP): A joint team formed by the National Commission on Human Rights (Komnas HAM) and the Indonesian Institute for the Study of the 1965/1966 Massacre (YPKP) has uncovered the remains of some 24 people linked to the outlawed Indonesian Communist Party (PKI) in Wonosobo, Central Java.

Aceh: Peaceful solution or force

Aceh: Peaceful solution or force By Desra Percaya JAKARTA (JP): Decades of ideological confrontation between the East and the West have brought about transformation in our concept of conflict, the main aspect being a change of dimension from international (inter-state) conflict to internal conflict. The latter is increasingly dominating the landscape of conflict.

Kanu joins Nigeria for WCup qualifiers

Kanu joins Nigeria for WCup qualifiers LAGOS (AFP): Arsenal striker Nwankwo Kanu said Monday he will be available for Nigeria's World Cup qualifying games next year as a row rumbled on over his refusal to play in the Sydney Olympics. "I'm a Nigerian. I am proud to be a Nigerian and I will remain a Nigerian till I die. Anytime I'm invited to play for the national team, I will be ready," Kanu told a local radio station.

Court may move Bob Hasan to Salemba Penitentiary

Court may move Bob Hasan to Salemba Penitentiary JAKARTA (JP): The Central Jakarta District Court is considering removal of timber tycoon Mohamad "Bob" Hasan, the defendant in a multimillion-dollar graft case, from his detention at the Attorney General's office to the Salemba penitentiary for health reasons. The proposal was raised by state prosecutors after Hasan complained of a severe headache just before listening to the testimony of the fourth witness in Monday's hearing.

Protesting bus crews damage 8 vehicles

Protesting bus crews damage 8 vehicles JAKARTA (JP): Eight vehicles were vandalized on Monday by some of the hundreds of Metro Mini public minibuses who were staging a heated rally on Jl. Bekasi Raya, East Jakarta, to protest the illegal operation of vans serving their Tanjung Priok-Pulogadung service route.

Four state firms to be privatized in 2001: Prijadi

Four state firms to be privatized in 2001: Prijadi JAKARTA (JP): Four state-owned enterprises are ready to be privatized next year in a bid to raise around Rp 5 trillion (US$537.63 million) in proceeds, finance minister Prijadi Praptosuhardjo said on Monday.

Mahathir raps West's 'double standards'

Mahathir raps West's 'double standards' KUALA LUMPUR (AFP): Malaysian Prime Minister Mahathir Mohamad has criticized Western "double standards" on globalization, saying the concept was being shaped to fit the needs of the developed world. "The truth is there is indeed very little 'free market' element in this brand of globalization," he said in a speech opening the Langkawi International Dialogue between Malaysia and southern African nations.

Agro toolmakers want Chinese imports curbed

Agro toolmakers want Chinese imports curbed JAKARTA (JP): Alsintani, the association of producers of agricultural implements, called on the government on Monday to curb imports from China which it blames for causing the loss of more than 30,000 jobs over the past three years. Alsintani chairman Hasan Sulaiman proposed a 30 percent import tariff, against the 4-5 percent tariff at present, on Chinese agricultural implements among measures to curb imports.