BURSA is an anonymous news service datelined Jakarta and published occasionally on this net. It first appeared early in October 1995 and seemed to be written by professional journalists. It has focussed on the most politically sensitive aspect of Indonesian business - cronyism and collusion in high places. Taking advantage of its anonymity, BURSA has named names in ways the licensed press cannot afford to contemplate. The main stories so far have been the following. Some of these were scoops.
5? October 1995 - Bursa alleged that tax stamps were being printed by Bimantara, the company owned by Presidential son Bambang Trihatmodjo. Rapid expansion of Indonesia's businessworld means 3.6 billion sheets are now required each year, which at a presumed commission of Rp 100 per sheet works out at USD 180 million p.a. Post & Telecommunications Minister Joop Ave denies the job has been taken away from the normal government agency Peruri.
18? October 1995 - a rise in freeway tolls within Jakarta is blamed on the powerful presence in the toll-way business of a company owned by Presidential daughter Siti "Tutut" Hardiyanti (PT Citra Marga Nusaphala Persada). The other operator is government-owned PT Jasa Marga. Tutut first made her mark in business in 1987 when she built a 14-km toll road to the harbour in Jakarta. She since built other roads in Jakarta, as well as in Malaysia and the Philippines. Tutut's tollways were taken up again in mid-November, where some of her related businesses were described. She has her own bank (Yama).
2 November 1995 - Commenting on news that director Ridwan Fataruddin of the government-owned domestic air carrier Merpati had been sacked because he refused to accept aircraft from the government-owned aircraft factory IPTN at higher than commercial rates, Bursa, with Ridwan, asks why Merpati should be asked to bear the burden of IPTN's desire to leap too quickly to a break- even point with a new aircraft, when American aircraft makers take decades to get there.
Two weeks later Bursa suggested that Transport Minister Haryanto, who had forced the issue with Merpati and was regarded as a Habibie protege, had colluded with the aircraft leasing company (Arthasaka Nusaphala) that was to make the IPTN aircraft available to Merpati.
28 November 1995 - Bursa reports that Tommy Soeharto, the President's youngest son, wants to buy shares in a partial privatization offer of government-owned cellular telephone company Telkomsel, but is offering only a low price for them.
15 December 1995 - Data, another anonymous news service that quotes Bursa sources, describes the business interests of Siti Hediyati Prabowo, fourth child of President Suharto and wife of Brig-Gen Prabowo Subianto. Her biggest project to date is a Rp 2 trillion (USD 1 billion) pulp project in East Kalimantan, which will include a 300 000 ha. plantation. She will get a no-interest loan of nearly USD 100 million from the government Reafforestation Fund for this. She will first be allowed to clearfel the luxuriant timber in her plantation.
On the same day Bursa scooped (?) the news that a memo from government watchdog Kentot Harseno had accused Transport Minister Haryanto of corruption, and detailed the charges.
28 December 1995 - When Transport Minister Haryanto said the IPTN aircraft deal with Merpati was now being done not through Arthasaka but by a Singapore-based company through Mitraguna, Bursa said Mitraguna was related to Arthasaka through prominent businessman Indra Bakrie.
On the same day, Bursa reported that a technical system to improve collection of a 10% 'development tax' on all restaurant, hotel and recreational transactions had some time in the past been trialled by a company within Humpuss Group, owned by Tommy Soeharto, on the basis that they would get a cut when the system was implemented nationally. But a new Interior Minister (Yogie) reneged on the deal.
On the same day again, it reported that a private company, Solusindo Mitra Sejati (SMS), had the backing of Interior Minister Yogie Memed to issue computerized identity cards to all Indonesian citizens, at a cost substantially higher than at present. The company is owned by Elsye Sigit, wife of President Soeharto's second son Sigit Hardjojudanto. The Jakarta administration was resisting the move.
Still on the same day, Data reported that Tommy Soeharto had requested new Industry and Trade Minister Tungky Ariwibowo to temporarily reduce the import duty on fully built up Korean cars, for which he has an import licence, from the present 200% to only 20%. He says he needs to collect capital to start a new plant in Indonesia to build a cheap people's car.
13? January 1996 - Bursa reports that Lippobank is in trouble, as are two other well-connected banks - Yama and Pacific. This is actually old news but the government is anxious to suppress reporting of it in case it causes a run as happened with Summa last year.
On the same day it described the business interests of Tomy Winata, a 39-year old of Taiwanese descent, who has become wealthy by close association with Army businesses, particularly property. Among others, he is close to Army Chief of Staff Gen. R. Hartono.
Gerry van Klinken, editor, 'Inside
Indonesia' magazine.
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