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Tuesday, 29 June 10
EXPORT LETTER OF CREDIT PLAN DUMPED - THE JAKARTA GLOBE
The Jakartaglobe reported that, Indonesia has canceled a proposed regulation that would have required exporters of commodities such as cocoa, coffee, rubber, palm oil and mining products to use a letter of credit from local banks for export transactions worth more than $1 million.
The government issued the regulation in April 2009 and it was set to take effect on July 1. It was intended to support the rupiah by ensuring revenue from commodity exports was kept onshore.
The Ministry of Trade originally delayed the introduction of the regulation from Sept. 1 to Nov. 1. Implementation was subsequently postponed again, to July 1.
“Based on evaluations, the regulation is no longer needed. Thus it is canceled and will not be applied,” the ministry said in a decree signed by Trade Minister Mari Elka Pangestu last Thursday.
The current export reporting system will continue. Under the system, exporters have to submit regular reports of payments received from their overseas buyers to the Trade Ministry.
Sandiaga Uno, managing director of private equity firm Saratoga Capital and a former head of the Indonesian Young Entrepreneurs Association (Hipmi), welcomed the decision.
“I welcome the move because my colleagues, especially in small and mid-sized businesses, have been complaining about the added cost it would bring,” Sandiaga said. Exporters had claimed that obtaining a letter of credit would cost them 0.8 percent of the total transaction.
“We’ve been hoping for a while that it would be canceled,” Sandiaga said.
Jeffrey Mulyono, president director of coal miner PT Bhakti Energi Persada, said the requirement would have undermined normal trade practices and increased costs.
“Why do we need it since there are already standing agreements between importers and exporters?” he said. “It would have only led to an added burden for both exporters and their buyers.”
Source: The Jakarta Globe
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Friday, 02 July 10
PROPOSED MINERAL RESOURCE RENT TAX - PRESS RELEASE (2)
Press Release: BHP Billiton, Rio Tinto and Xstrata said today that they are encouraged by the Federal Government’s announcement that it propos ...
Friday, 02 July 10
MINERALS RESOURCE TAXATION IN AUSTRALIA - PRESS RELEASE
Press Release : Rio Tinto acknowledges the Australian Government’s announcement that the Resource Super Profits Tax (RSPT) proposal will be re ...
Thursday, 01 July 10
TATA POWER TO RAISE US$300 MILLION THROUGH ITS COAL SPVS TO FUND ADDITIONAL ACQUISITIONS AND / OR REDUCE OUTSTANDING DEBT
Stock Markets Review reported that, Tata Power, India’s largest private power player has signed an agreement to raise US$300 million in Bhira ...
Thursday, 01 July 10
HELLENIC SHIPPING NEWS POLL: THE BDI WILL STAY ABOVE 3,000 POINTS IN THE SECOND HALF OF 2010
When Hellenic Shipping News Worldwide prepared June’s poll asking readers about where do they think that the Baltic Dry Index (BDI) will range ...
Thursday, 01 July 10
PANAMAX MARKETS CONTINUE TO DROP IN ALL BASINS - FEARNLEYS
Handy
Atlantic rates continue to slide with little activity. Supras open in USG get low 30´s to Med and mid 40´s to FEast. Hmax/Supra ...
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- Bhushan Steel Limited - India
- Kaltim Prima Coal - Indonesia
- Chamber of Mines of South Africa
- Xindia Steels Limited - India
- CNBM International Corporation - China
- Miang Besar Coal Terminal - Indonesia
- Therma Luzon, Inc, Philippines
- Edison Trading Spa - Italy
- Minerals Council of Australia
- Romanian Commodities Exchange
- The Treasury - Australian Government
- The University of Queensland
- Savvy Resources Ltd - HongKong
- PowerSource Philippines DevCo
- Leighton Contractors Pty Ltd - Australia
- Ambuja Cements Ltd - India
- Manunggal Multi Energi - Indonesia
- Toyota Tsusho Corporation, Japan
- Uttam Galva Steels Limited - India
- Parry Sugars Refinery, India
- Economic Council, Georgia
- Baramulti Group, Indonesia
- Port Waratah Coal Services - Australia
- Alfred C Toepfer International GmbH - Germany
- South Luzon Thermal Energy Corporation
- Kapuas Tunggal Persada - Indonesia
- Sree Jayajothi Cements Limited - India
- Ministry of Transport, Egypt
- Trasteel International SA, Italy
- Petron Corporation, Philippines
- Lanco Infratech Ltd - India
- Deloitte Consulting - India
- GN Power Mariveles Coal Plant, Philippines
- Riau Bara Harum - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Pipit Mutiara Jaya. PT, Indonesia
- Sojitz Corporation - Japan
- Timah Investasi Mineral - Indoneisa
- Singapore Mercantile Exchange
- Formosa Plastics Group - Taiwan
- Agrawal Coal Company - India
- Ceylon Electricity Board - Sri Lanka
- SN Aboitiz Power Inc, Philippines
- Mintek Dendrill Indonesia
- Jindal Steel & Power Ltd - India
- White Energy Company Limited
- Coalindo Energy - Indonesia
- Bulk Trading Sa - Switzerland
- Electricity Generating Authority of Thailand
- Kobexindo Tractors - Indoneisa
- Anglo American - United Kingdom
- Siam City Cement PLC, Thailand
- Gujarat Electricity Regulatory Commission - India
- Central Electricity Authority - India
- Pendopo Energi Batubara - Indonesia
- Directorate Of Revenue Intelligence - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- International Coal Ventures Pvt Ltd - India
- Latin American Coal - Colombia
- Rio Tinto Coal - Australia
- Interocean Group of Companies - India
- Indika Energy - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- ICICI Bank Limited - India
- AsiaOL BioFuels Corp., Philippines
- Kalimantan Lumbung Energi - Indonesia
- New Zealand Coal & Carbon
- Eastern Coal Council - USA
- Energy Link Ltd, New Zealand
- Parliament of New Zealand
- Sindya Power Generating Company Private Ltd
- Bharathi Cement Corporation - India
- European Bulk Services B.V. - Netherlands
- SMG Consultants - Indonesia
- Power Finance Corporation Ltd., India
- PNOC Exploration Corporation - Philippines
- Mjunction Services Limited - India
- VISA Power Limited - India
- Essar Steel Hazira Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Vijayanagar Sugar Pvt Ltd - India
- Australian Coal Association
- Iligan Light & Power Inc, Philippines
- Meralco Power Generation, Philippines
- SMC Global Power, Philippines
- Chettinad Cement Corporation Ltd - India
- Sinarmas Energy and Mining - Indonesia
- ASAPP Information Group - India
- Sarangani Energy Corporation, Philippines
- Heidelberg Cement - Germany
- Krishnapatnam Port Company Ltd. - India
- Jorong Barutama Greston.PT - Indonesia
- Kumho Petrochemical, South Korea
- Asia Pacific Energy Resources Ventures Inc, Philippines
- IHS Mccloskey Coal Group - USA
- Electricity Authority, New Zealand
- Price Waterhouse Coopers - Russia
- The State Trading Corporation of India Ltd
- Energy Development Corp, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Semirara Mining Corp, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Global Business Power Corporation, Philippines
- Madhucon Powers Ltd - India
- MS Steel International - UAE
- Neyveli Lignite Corporation Ltd, - India
- Indo Tambangraya Megah - Indonesia
- Makarim & Taira - Indonesia
- Carbofer General Trading SA - India
- Thiess Contractors Indonesia
- Global Coal Blending Company Limited - Australia
- GAC Shipping (India) Pvt Ltd
- Renaissance Capital - South Africa
- Bukit Baiduri Energy - Indonesia
- Straits Asia Resources Limited - Singapore
- Simpson Spence & Young - Indonesia
- Borneo Indobara - Indonesia
- Coastal Gujarat Power Limited - India
- Bukit Makmur.PT - Indonesia
- Posco Energy - South Korea
- Attock Cement Pakistan Limited
- Gujarat Mineral Development Corp Ltd - India
- Maheswari Brothers Coal Limited - India
- Ministry of Finance - Indonesia
- Mercator Lines Limited - India
- Independent Power Producers Association of India
- Wood Mackenzie - Singapore
- Billiton Holdings Pty Ltd - Australia
- Kideco Jaya Agung - Indonesia
- Kepco SPC Power Corporation, Philippines
- Georgia Ports Authority, United States
- Cement Manufacturers Association - India
- Star Paper Mills Limited - India
- TeaM Sual Corporation - Philippines
- Vizag Seaport Private Limited - India
- Eastern Energy - Thailand
- Karaikal Port Pvt Ltd - India
- Indonesian Coal Mining Association
- Africa Commodities Group - South Africa
- Dalmia Cement Bharat India
- Cigading International Bulk Terminal - Indonesia
- Aditya Birla Group - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Goldman Sachs - Singapore
- Ind-Barath Power Infra Limited - India
- Commonwealth Bank - Australia
- Tamil Nadu electricity Board
- PetroVietnam Power Coal Import and Supply Company
- Medco Energi Mining Internasional
- Kartika Selabumi Mining - Indonesia
- Global Green Power PLC Corporation, Philippines
- Aboitiz Power Corporation - Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Indogreen Group - Indonesia
- IEA Clean Coal Centre - UK
- London Commodity Brokers - England
- Jaiprakash Power Ventures ltd
- Ministry of Mines - Canada
- Oldendorff Carriers - Singapore
- Grasim Industreis Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Antam Resourcindo - Indonesia
- Gujarat Sidhee Cement - India
- Thai Mozambique Logistica
- Merrill Lynch Commodities Europe
- Orica Mining Services - Indonesia
- Marubeni Corporation - India
- Videocon Industries ltd - India
- GMR Energy Limited - India
- Samtan Co., Ltd - South Korea
- Metalloyd Limited - United Kingdom
- Sakthi Sugars Limited - India
- GVK Power & Infra Limited - India
- Bhoruka Overseas - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Sical Logistics Limited - India
- San Jose City I Power Corp, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Malabar Cements Ltd - India
- OPG Power Generation Pvt Ltd - India
- Intertek Mineral Services - Indonesia
- Altura Mining Limited, Indonesia
- Siam City Cement - Thailand
- Vedanta Resources Plc - India
- Wilmar Investment Holdings
- Standard Chartered Bank - UAE
- Salva Resources Pvt Ltd - India
- McConnell Dowell - Australia
- Meenaskhi Energy Private Limited - India
- Larsen & Toubro Limited - India
- Globalindo Alam Lestari - Indonesia
- Bayan Resources Tbk. - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Mercuria Energy - Indonesia
- Bangladesh Power Developement Board
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Central Java Power - Indonesia
- Indian Oil Corporation Limited
- India Bulls Power Limited - India
- Australian Commodity Traders Exchange
- CIMB Investment Bank - Malaysia
- Indian Energy Exchange, India
- Orica Australia Pty. Ltd.
- LBH Netherlands Bv - Netherlands
- Bahari Cakrawala Sebuku - Indonesia
- Barasentosa Lestari - Indonesia
- Coal and Oil Company - UAE
- Binh Thuan Hamico - Vietnam
- Banpu Public Company Limited - Thailand
- Planning Commission, India
- Bhatia International Limited - India
- PTC India Limited - India
- Tata Chemicals Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
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