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Fri, 20 Aug 1999
Auditing the auditors
Auditing the auditors Auditors have a crucial role in enhancing the integrity of the disclosure process, one of the pillars of good corporate governance. But the integrity, honesty and objectivity of Indonesian public accountants appears to be suspect.
Fri, 20 Aug 1999
Officials urge KONI to focus on sports offering many golds
Officials urge KONI to focus on sports offering many golds JAKARTA (JP): Sports officials urged the National Sports Council (KONI) to pay more attention to sports development in multisport events of track and field, swimming, shooting and gymnastics, which offer a large amount of gold medals.
Fri, 20 Aug 1999
Dell to move HQ to S'pore
Dell to move HQ to S'pore SINGAPORE (Dow Jones): U.S. computer maker Dell Computer Corp. (DELL) intends to make Singapore its Asia-Pacific headquarters, it said Thursday at a media conference.The company's Asia-Pacific operations is currently based in Hong Kong.
Fri, 20 Aug 1999
Habibie's unappreciated address
Habibie's unappreciated address Why is the public indifferent to the President's recent state- of-the-nation speech? Most probably because there is a gap between the priorities Habibie and the people in his immediate surroundings are setting and the actual problems that are occupying people's minds.
Fri, 20 Aug 1999
Telkomsel responds
Telkomsel responds I refer to the letter Adventures with kartu Halo by Mr. Santoso N. in The Jakarta Post of July 26, 1999. We are grateful for your challenging input and we also want to show our appreciation for your loyalty and trust in using our Telkomsel GSM services for three years.
Fri, 20 Aug 1999
Angkasa Pura II doubtful about profit target
Angkasa Pura II doubtful about profit target JAKARTA (JP): PT Angkasa Pura II, the country's main airport operator, might not be able to meet this year's pretax profit target of Rp 500 billion (about US$70 million) due to the strengthening of the rupiah against the U.S.
Fri, 20 Aug 1999
KPU allocates most interest group seats
KPU allocates most interest group seats JAKARTA (JP): The General Elections Commission (KPU) completed on Thursday its task of appointing representatives of various groups in society to the 65-seat Interest Group faction at the People's Consultative Assembly (MPR).
Fri, 20 Aug 1999
Indosteel eyes garment export
Indosteel eyes garment export JAKARTA (JP): Publicly listed Indosteel will establish an export-oriented garment factory in Purwakarta, West Java, with investment of US$20 million, of which $7 million will be equity financing, the company said here on Thursday.
Fri, 20 Aug 1999
Stock quotations on JSX
Stock quotations on JSXStock prices on the Jakarta Stock Exchange (in rupiah) on Aug. 19, 1999: Shares Close Change Trading Volume ---------------------------------------------------------- Ades Alfindo 475 0 0 AHAP Insurance 525 0 0 Alakasa Industrindo 300 0 0 Alter Abadi 300 0 166,500 Alumindo...
Fri, 20 Aug 1999
B- rating for BII's card
B- rating for BII's card HONG KONG (Dow Jones): Duff & Phelps Credit Rating (DCR) Co. said Thursday it has reaffirmed its B- rating on the credit card receivable securitization issued by Bank Internasional Indonesia (BII).
Fri, 20 Aug 1999
Akbar concedes fissures in Golkar Party
Akbar concedes fissures in Golkar Party JAKARTA (JP): Golkar Party chairman Akbar Tandjung said on Thursday he suspected members of the party's inner circle of spreading dissension in a bid to topple him.Akbar was commenting on a letter dated Aug.
Fri, 20 Aug 1999
The Hunt for the Marcos' hidden wealth continues
The Hunt for the Marcos' hidden wealth continuesBy Jamil Maidan Flores This is the last of a four-part series. The first three parts describe the pursuit of the Marcos wealth through open and legal means as well as a clandestine operation called "Big Bird" that identified and exposed part of the...
Fri, 20 Aug 1999
School wall kills one, injures another
School wall kills one, injures another JAKARTA (JP): An elementary school student died, while another was rushed to Cipto Mangunkusumo general hospital for surgery, after a wall around their school yard in Bekasi collapsed on top of them on Thursday.
Fri, 20 Aug 1999
UNAMET urges anti-weapon measures
UNAMET urges anti-weapon measures JAKARTA (JP): The United Nations Mission in East Timor (UNAMET) called on Thursday for Indonesian police to arrest anyone found with weapons outside designated cantonment areas.
Fri, 20 Aug 1999
Thrills and spills at bartending championship
Thrills and spills at bartending championshipBy Jules Bell JAKARTA (JP): The crowd cheered and the drinks flew. Bottles of tequila and vodka spun through the air, and ice cubes and pieces of lime performed triple somersaults. The music pumped and the bartenders juggled glasses.
Fri, 20 Aug 1999
Govt asked to screen pesticide importers
Govt asked to screen pesticide importers JAKARTA (JP): The Indonesian Crop Protection Industry Association (AIPTI) urged the government to screen potential importers of pesticides and pesticide formulas.
Fri, 20 Aug 1999
RI wants win in ASEAN swim meet
RI wants win in ASEAN swim meet JAKARTA (JP): Indonesia aims to grab the overall title in the fourth Southeast Asian Students Swimming Championships in the Senayan swimming pool from Aug. 23 to Aug. 25.The Indonesian Swimming Federation (PRSI) official in charge of technical committee, Gerald P.
Fri, 20 Aug 1999
Swiss bank 'knew' of Marcos funds
Swiss bank 'knew' of Marcos funds MANILA (AP): A German journalist told a Philippine Senate committee on Thursday that the Union Bank of Switzerland admitted holding an account of the late dictator Ferdinand Marcos.
Fri, 20 Aug 1999
House grills top finance, monetary men
House grills top finance, monetary men JAKARTA (JP): Banking authorities steadfastly refused to meet demands made by the House of Representatives during a heated debate on Thursday to disclose the names of government leaders allegedly involved in the high-profile Bank Bali scandal.
Fri, 20 Aug 1999
Hasan appointed boss of new futures exchange
Hasan appointed boss of new futures exchange JAKARTA (JP): Former Jakarta Stock Exchange (JSX) boss Hasan Zein Mahmud was elected on Thursday as president of the newly established Indonesia Futures Exchange (IFEX).
Fri, 20 Aug 1999
Conversion Rates
Conversion Rates Bank Bali's conversion rates on Aug. 19, 1999: TT rates Bank notes rates Buying Selling Buying Selling Rp Rp Rp Rp U.S. dollar 1 7,100.00 7,250.00 7,100.00 7,280.00 Australian dollar 1 4,563.75 4,697.90 4,538.00 4,722.00 Austrian schilling 1 540.15 556.38 - - Belgian franc 1 184.
Fri, 20 Aug 1999
Councilors insist on debt allowance
Councilors insist on debt allowance JAKARTA (JP): Outgoing council members demanded on Thursday that the city administration grant them severance payments to cover their debts at city-owned Bank DKI.Jonggi JP Sihombing of the Golkar party said city councilors, whose terms will end next Wednesday,...
Fri, 20 Aug 1999
House to deliberate state security bill
House to deliberate state security bill JAKARTA (JP): The House of Representatives (DPR) agreed on Thursday to deliberate the widely criticized bills on state security and on a civilian militia, despite public calls that it drop the Ministry of Defense-sponsored documents.
Fri, 20 Aug 1999
Borrower's relatives mob Dutch expatriate
Borrower's relatives mob Dutch expatriate JAKARTA (JP): A Dutch citizen was rushed to Cipto Mangunkusumo General Hospital after he was mobbed by a group of men on Thursday.The man, identified as Ayf Welers, was rushed to the hospital's emergency unit by another Dutchman and an Indonesian identified...
Fri, 20 Aug 1999
Indonesian foreign exchange reserves fall to $16 billion
Indonesian foreign exchange reserves fall to $16 billion JAKARTA (JP): The country's net foreign exchange reserves fell US$201.4 million to $16 billion as of Aug. 13.Bank Indonesia announced in its latest weekly report that the drop was due to foreign debt payments.
Fri, 20 Aug 1999
More violence in Aceh as DPR debates autonomy bill
More violence in Aceh as DPR debates autonomy bill JAKARTA (JP): The government and the House of Representatives responded to demands for justice by Acehnese by launching on Thursday the reading of a bill that would accord the troubled province special treatment and autonomy."With the document ...
Fri, 20 Aug 1999
Walhi sues president over failed project
Walhi sues president over failed project JAKARTA (JP): The Indonesian Forum for Environment (Walhi) has filed a lawsuit against President B.J. Habibie over a failed government project to develop one million hectares of peat land in Central Kalimantan.
Fri, 20 Aug 1999
Official says no inmates escaped
Official says no inmates escaped PADANG, West Sumatra: Head of the provincial office of the Ministry of Justice, Soemoeljo, denied reports that 20 prisoners escaped when the Muaro Penitentiary here was set on fire on Wednesday."No one escaped. Media reports that there are 20 fugitives are wrong ...
Fri, 20 Aug 1999
Ministers implicated in Bank Bali scandal
Ministers implicated in Bank Bali scandal JAKARTA (JP): The Indonesian Democratic Party of Struggle (PDI Perjuangan), the front-runner in the June elections, accused on Thursday one of President B.J. Habibie's younger brothers, four Cabinet ministers, two ruling Golkar party leaders, and five...
Thu, 19 Aug 1999
Government may suspend investigation into Soeharto's wealth
Government may suspend investigation into Soeharto's wealth JAKARTA (JP): The government suggested on Wednesday the investigation into the alleged corruption of ailing former president Soeharto would be suspended due to lack of evidence.
Thu, 19 Aug 1999
Thai bad loans at $71.6b
Thai bad loans at $71.6b BANGKOK (AFP): The central Bank of Thailand said Wednesday the troubled financial sector's non-performing loans stood at 2.65 trillion baht (US$71.6 billion) at the end of June.Bank of Thailand deputy governor Kitti Patpongpibul said non- performing loans accounted for 47.
Thu, 19 Aug 1999
Flights suspended to Ambon amid renewed fighting
Flights suspended to Ambon amid renewed fighting JAKARTA (JP): The authorities halted for an indefinite period commercial flights to the riot-torn Maluku capital of Ambon on Tuesday, due to renewed clashes between Muslims and Christians that have killed at least 100 people and injured 400 others...
Thu, 19 Aug 1999
Baht and peso plunge, but rupiah rebounds to 7,360
Baht and peso plunge, but rupiah rebounds to 7,360 HONG KONG (Dow Jones): Sales of the baht, sparked by investor fears over the health of Thailand's banking system, sent the Thai currency hurtling to a 10-month low on Wednesday.
Thu, 19 Aug 1999
PT Telkom mulls trimming stake in Satelindo
PT Telkom mulls trimming stake in Satelindo JAKARTA (JP): State-owned telecommunications company PT Telkom is considering divesting part of its 22.5 percent stake in subsidiary Satelindo, company president A.A. Nasution said on Wednesday.
Thu, 19 Aug 1999
Es Teler opens in Malaysia
Es Teler opens in Malaysia JAKARTA (JP): Es Teler 77, a local fast food chain specializing in meatball soup and tropical fruit drinks, will open a franchise in Penang, Malaysia, in September following the success of its Singapore venture.A memorandum of understanding was signed on Aug.
Thu, 19 Aug 1999
Where to go in Surabaya:
Where to go in Surabaya:Exhibition * Photo Exhibition: by Michel Semeniako (French), at CCF - French Cultural Center, Jl. Darmokali 10 (Phone: 031 5678639), 9 a.m. to 8 p.m., until Aug. 31.Performance * Classical Piano Concert, By Renowned German Pianist, Hansjorg Koch, at Balai Adika, Hotel...
Thu, 19 Aug 1999
Asia Pulp's rating affirmed
Asia Pulp's rating affirmed JAKARTA (Dow Jones): Standard & Poor's ratings agency Wednesday affirmed its "triple-C-plus" long-term foreign and local currency rating for Asia Pulp & Paper Co. Ltd., its guaranteed finance subsidiaries and its operating subsidiaries.
Thu, 19 Aug 1999
Stock Exchange
Stock ExchangeStock prices on the Jakarta Stock Exchange (in rupiah) on Aug. 18, 1999: Shares Close Change Trading Volume ------------------------------------------------------------ Ades Alfindo 475 0 5,000 AHAP Insurance 525 0 0 Alakasa Industrindo 300 0 0 Alter Abadi 300 25 32,500 Alumindo Light...
Thu, 19 Aug 1999
Mahathir meets Zhu in China
Mahathir meets Zhu in China BEIJING (AFP): Malaysian Prime Minister Mahathir Mohamad held talks here with Chinese Premier Zhu Rongji on Wednesday, immediately after arriving for a three-day working visit, state television reported.
Thu, 19 Aug 1999
Bank Bali confident of funds return
Bank Bali confident of funds return JAKARTA (JP): Head of Bank Bali's new management team, Douglas Beckett, said on Wednesday that a little more than half of the Rp 546 billion (US$74 million) funds missing from the bank were returned as of Wednesday.
Thu, 19 Aug 1999
Bourses told to delay new moves until after Y2K
Bourses told to delay new moves until after Y2K JAKARTA (JP): The Capital Market Supervisory Agency (Bapepam) banned local stock exchanges on Wednesday from issuing new trading regulations until after March 2000 to assure no disruption in preparations for the millennium bug.
Thu, 19 Aug 1999
Padang penitentiary set ablaze
Padang penitentiary set ablaze PADANG, West Sumatra (JP): An estimated 100 prisoners at the Muaro Penitentiary here, outraged over what they perceived as unfairness in the granting of Independence Day remissions, set fire to the facility on Wednesday.
Thu, 19 Aug 1999
Sutiyoso declares war on drug traffickers
Sutiyoso declares war on drug traffickers JAKARTA (JP): Jakarta Governor Sutiyoso declared a war against drug traffickers on Wednesday after disclosing that elementary school pupils were increasingly being targeted by drug pushers.
Thu, 19 Aug 1999
PAL, Emirates Air tie up
PAL, Emirates Air tie up MANILA (Dow Jones): Philippine Airlines Inc. (PAL) said Wednesday it has signed a code-sharing agreement with Emirates Airline that will see PAL re-establish a presence in Dubai for the first time in 15 months.Under the agreement, which will be effective Sept.
Thu, 19 Aug 1999
PLN probes corruption in purchase contracts
PLN probes corruption in purchase contracts JAKARTA (JP): State-owned electricity company PT PLN said on Wednesday it was collecting evidence on corrupt practices allegedly conducted by independent power producers (IPPs) in securing power purchase contracts from the state company.
Thu, 19 Aug 1999
Addicted son leaves at wit's end
Addicted son leaves at wit's endBy Ida Indawati Khouw JAKARTA (JP): Household helper Nuriah and her husband Liman never dreamed that their eldest son would be a burden for the poor family.Nuriah and Liman, a taxi driver, live together with their five children in a slum area in Menteng, Central...
Thu, 19 Aug 1999
Bank Bali heeds clients' concerns
Bank Bali heeds clients' concerns JAKARTA (JP): Head of Bank Bali's new management team Douglas K. Beckett acknowledged on Wednesday that the high profile scandal at the bank was a "source of concern" to its customers.He declined to confirm whether there was a run on the bank.
Thu, 19 Aug 1999
Fire leaves 7,500 homeless
Fire leaves 7,500 homeless BANJARMASIN, South Kalimantan: Fire gutted hundreds of buildings in Pelambuan village, leaving about 7,500 people from 1,500 families homeless on Tuesday.The fire broke out at 4:30 p.
Thu, 19 Aug 1999
Key economic challenges outlined for new government
Key economic challenges outlined for new government JAKARTA (JP): State Minister of National Development Planning Boediono said on Wednesday the next government would encounter severely strained budget resources, emphasizing that foreign debt rescheduling measures would be imperative.
Thu, 19 Aug 1999
Doctor suspects imported pudding after kids fall ill
Doctor suspects imported pudding after kids fall ill JAKARTA (JP): Twenty-six children were rushed to Cipto Mangunkusumo General Hospital for treatment of suspected food poisoning after they ate imported chocolate pudding on Wednesday, a doctor at the hospital said.