Indonesian parliament approves privatising of three major state firms

Saturday, September 20, 2008

The parliament of Indonesia has approved government plans to make an Initial Public Offering (IPO) of shares in three major state-owned firms, privatising them. They are steelmaker Krakatau Steel, Bank Tabungan Negara (BTN) and national flag carrier Garuda Indonesia.

The parliament has left the process fully in the hands of the government, and has set the maximum stake to be sold at 30% for BTN and Krakatau, and 40% for Garuda. Although Indonesia has been known to fund budget deficits with privatisation, the intention is for the funds from this scheme to go to the businesses themselves to allow expansion.

Krakatau expects 3.2 trillion Rupiah (IDR) from the sale, while the estimated price for their stock is between IDR3 and IDR4 trillion (321 – 428 million USD). Both ArcelorMittal SA, the biggest steelmaker in the world, and BlueScope Steel Ltd, the largest in Australia, have expressed an interest in the IPO. Krakatau will use the funds to help finance an expansion scheme which aims to have production doubled to five million tonnes in 2011.

BTN, which focuses on home owner loans, has set itself a target income of IDR36.12 trillion (3.86 billion USD) in 2010 compared to a projected IDR22.9 trillion ( 2.45 billion USD) this year. Net profit for this year is projected at IDR472 billion (50.5 million USD)and is hoped to rise to IDR1.39 trillion (148.7 million USD) in 2010. The bank’s loan to deposit ratio is predicted to rise from 105.05% this year to 144.93% in 2012. BTN hopes to conduct its IPO before the end of 2008.

Garuda is not quite 100% state-owned to start with, unlike the other two, but is very close with 95.44% of the company belonging to the government. Like all of Indonesia’s 51 airlines, Garuda is on the list of air carriers banned in the EU due to safety concerns raised after a string of air accidents in the nation. Garuda expects to raise IDR4.2 trillion (449.4 million USD) in funds from the IPO, and will use IDR2.5 trillion (267.5 million USD) to pay off its debts and invest IDR1.7 trillion (181.9 million USD) in new aircraft.

The government is still working to get a deal to make IPOs for architectural firm Yodya Karya and three plantation firms called Perkebunan Nusantara III, IV and VII.

Monday, August 27, 2012

London, England — As Paralympians ready for the Games which are set to open later this week, they have access to a world class fitness center inside the Paralympic Village which is designed to maximise their pre-Game preparations.

According to volunteers staffing the center, instead of being a single large room, as in Beijing, the building has numerous rooms. It, along with the adjacent Village Services Centre, is designed to be converted into a school after the games conclude. Rooms have been structured as a gym, an auditorium, and science laboratories.

Gym equipment is supplied by Technogym, an Italian firm that has supplied gym equipment for the Olympics since 2000. Equipment has been provided not just for for the Fitness Centre, but for gyms at all the Olympic venues. The newest equipment is oriented toward maximum flexibility, allowing athletes to exercise the particular muscles that they most require for their sport.

In addition to the equipment, the Fitness Centre also provides instructors trained in the use of the equipment, the likes of which athletes from many countries have never seen before. There are also a number of instructors available to provide motivational training.

Sunday, April 3, 2005

Volunteers from across the United States and some foreign countries gathered Friday to start an unofficial border patrol project.

They converged on the town of Tombstone, Arizona to take part in what organizers call the Minuteman Project.

Many came with personal firearms, cell phones or walking canes.

Most estimates numbered the group at 400 to 450 people, recruited from the Internet, far less than the 1,300 the organizers had hoped for, but “it was enough to send a message,” according to Rep. Tom Tancredo, R-Colo.

“The federal government has walked away from this border,” he told some volunteers. He gained support and popularity for his stance against illegal immigration, but was characterized as anti-immigration in general.

“We are here to exercise what is a basic American right: free speech and the right to assemble,” he said.

Local citizens such as Luis Martinez, a third-generation Tombstone-area resident, were very unhappy with the developments. “They’ve come here to cause problems — to fight. Not to solve problems.

“I work in a ranch and all the ranchers use labor from the other side” of the border.

As Martinez fought back tears, he said he wanted to see the throngs leave Tombstone and go home.

During speeches delivered at orientation meetings, Rep. Tancredo was applauded loudly as he dismissed criticism from those who have called the volunteers racists and xenophobes. His fellow [[Republican Party (US)|Republican}}, President George Bush, described the group as “vigilantes.” Mexican President Vicente Fox used the term cazamigrantes — immigrant hunters.

Tancredo said: “We are saying to our government, ‘Please enforce the law,’ That is not a radical idea. That is not a vigilante idea. It is an American concept: the rule of law.”

Many of the volunteers, some from as far away as Italy, are bedding down in the nearby Miracle Valley Bible College for about $5 a night. Others are camping on the grounds of the run-down campus, about two miles north of the border.

Opposing sides were on the streets in Tombstone, although it appeared there was little contact or friction. Local, state and federal officers had mobilized in case confrontations arose.

James Gilchrist, a former Marine and a retired accountant from Aliso Viejo, Arizona, who ran the sign-up effort, said he expected more than 1,000 volunteers to help highlight the 30-day effort. The project’s goal is to patrol 23 miles of the San Pedro Valley, watch the border, and report illegal activity to law enforcement officials.

Many people fear that the project could result in vigilante violence. Organizers hope it causes the U.S. government to increase border patrols.

Tombstone is best known as the site of the 1881 shootout at the OK Corral.

Saturday, August 4, 2007

Cattle at a farm in Surrey, UK have tested positive for foot-and-mouth disease. After symptoms were reported late on 2 August, the farm was isolated. Following testing, officials from Defra (Department for Environment, Food and Rural Affairs) confirmed the outbreak on 3 August.

A three kilometre exclusion zone and a ten kilometre surveillance zone have been put into place around the farm, near Wanborough. All livestock on the farm have been slaughtered and incinerated. Any movement of livestock in the UK has been banned and the EU has banned exports under emergency measures, expected to be confirmed on Monday. Farmers are urged to watch their animals carefully for symptoms, and report any to Defra officials.

The government’s emergency committee Cobra met to discuss the situation before the announcement, with Prime Minister Gordon Brown participating via telephone. Brown cut short his holiday in Dorset to return to London on Saturday, when another meeting of Cobra was held. Environment Secretary Hilary Benn also returned from holiday in Italy.

The last outbreak of foot-and-mouth in the UK was in 2001. It resulted in the slaughtering of up to 7 million animals, and losses estimated at £8 billion.

In France, the government has asked for all the animals imported during the last ten days to be tested. All meetings including animals have been forbidden on the French territory.

Friday, March 20, 2009

Following the Pilkhana massacre which occurred February 25 and 26 leaving 74 dead and the inferno at the Bashundhara City shopping mall complex March 13 leaving seven dead, Prime Minister Sheikh Hasina said security measures are being tightened countrywide across Bangladesh.

Fire drills will be enacted at all key-point installations (KPI). Fire fighting systems will be examined by the fire brigade and the public works department (PWD) to ensure functionality. Security measures will be enhanced supplementing areas under private security such as at the Bashundhara City Complex.

The Fire Service and Civil Defence Department requires modernization and needs new equipment to fight fires past the sixth floor of buildings. The Fire Brigade says it needs turntable ladders, snorkels, foam-tenders, lighting units, emergency tenders, fireproof uniforms, and rescue ropes for fire fighting and rescue operations. Transportation to fires is also an issue due to narrow roads, low electrical wires and congestion.

The Bangladesh National Building Code requires fire fighting equipment installed in buildings over seven floors. This code is to be monitored by authorities to ensure compliance with the new guidelines and to make sure buildings are being maintained.

The Bashundhara City Complex opened Monday for shoppers two days after Friday’s blaze. A probe is underway to determine the cause of the fire and to assess structural damage.

Loss of life was minimized as the blaze broke out on a Friday, the beginning of the weekend in Bangladesh, so offices in the upper floors were empty. The lower eight floors are used for shopping and the upper floors are all Bashundhara Group offices.

The mall is valued at Tk 7.0 billion (US$100 million). It is not known if the complex is covered by fire insurance.

It is estimated that it will take over two years to rebuild the area damaged by flames which were burned down to a skeleton. Bashundhara City’s technical advisor, Latifur Rahman, estimated damages at Tk 2.0 billion (US$29m).

Only one television cameraman has been allowed in to film the burnt area. None of the 2,500 shops, cinemas or cafes were burnt by the inferno. The seventh and eighth floors still experience smoke damage, and there was water damage to merchandise.

A three member committee is currently investigating the cause of the fire which will consist of Iqbal Khan Chowdhury, joint secretary of the ministry, representatives of the police, IGP Noor Muhammad, and fire brigade, Director General Abu Nayeem Md Shahidullah. The committee is required to report within the week with their findings. The forensics department is also sifting through the burnt remains.

The Dhaka Chamber of Commerce and Industries has also formed a committee which has begun interviewing witnesses and recording their testimony alongside the government committee.

It has been discovered that 150 closed circuit cameras were not being used when the fire started. Another mystery is why the mall fire fighting system has been found unused.

“In the shopping mall there is an ultra-technology elevator which runs even without electricity but we have found that locked,” Iqbal Khan Chowdhury, joint secretary (Police) of the home ministry, said. “Why the fire burnt so fiercely is a matter to think. We have to see if there was any incendiary substance there. These matters seem to be mysterious.”

Mall management has been asked to submit substances and items which would have been in the upper floors when the fire started. The fire erupted on the 17th floor and spread quickly to the two floors above and engulfed the three floors below. The aerial ladders belonging to the Fire Service and Civil Defence reached as high as the 13th floor of the 21-storey building.

Videos have been sent to the United States (US) for examination to assist in determining the cause of the fire and to help in the damage assessment. Experts from the US are expected to arrive soon.

Firefighters were brought to the rooftop of the 20-storey tower by helicopter. The only fatality in this operation was Baki Billa, a firefighter of Bashundhara City firefighting department, who fell when climbing down a rope from a helicopter to the roof of the building. Three other firefighters made the transition safely. At this same time, the chief security officer was safely rescued by the Bangladesh Air Force helicopter, a Bell 212. Six security officers of the complex also lost their lives.

Monday, September 24, 2007

Marion Schaffer is running for the Green Party of Ontario in the Ontario provincial election, in the Oakville riding. Wikinews’ Nick Moreau interviewed her regarding her values, her experience, and her campaign.

Stay tuned for further interviews; every candidate from every party is eligible, and will be contacted. Expect interviews from Liberals, Progressive Conservatives, New Democratic Party members, Ontario Greens, as well as members from the Family Coalition, Freedom, Communist, Libertarian, and Confederation of Regions parties, as well as independents.

Monday, September 24, 2007

Marion Schaffer is running for the Green Party of Ontario in the Ontario provincial election, in the Oakville riding. Wikinews’ Nick Moreau interviewed her regarding her values, her experience, and her campaign.

Stay tuned for further interviews; every candidate from every party is eligible, and will be contacted. Expect interviews from Liberals, Progressive Conservatives, New Democratic Party members, Ontario Greens, as well as members from the Family Coalition, Freedom, Communist, Libertarian, and Confederation of Regions parties, as well as independents.