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Wednesday, 16 November 11
TAX OFFICE VOWS TO CRACK DOWN ON COAL MINERS - JP
 The Jakarta Post reported that, the Finance Ministry’s Directorate General of Taxation says that it will strengthen its supervision of coal mining companies amid indications of potential legal violations in calculating their tax payments.
Tax office spokesman Dedi Rudaedi said in a press release sent to The Jakarta Post on Tuesday that more tax supervisors who understood the technical aspects of coal mining would be assigned to ensure that there were no legal violations in calculating the companies’ tax burden.
Dedi added that the technical ministry overseeing coal mining companies, the Energy and Mineral Resources Ministry, had the expertise to determine production, cost recovery and operational costs of coal miners.
It was also important to improve the exchange of information between the tax office and the Energy and Mineral Resources Ministry, as mandated by the 2009 Taxation, he added.
“With that effort, the tax office can examine and ensure that the information contained in the tax forms submitted by taxpayers in the coal mining sector is true,” Rudi said.
Deputy Energy and Mineral Resources Minister Widjajono Partowidagdo said that calculating operational costs in the coal mining sector was not as transparent a process as it was in the oil and gas sector.
“In coal, miners calculate operational costs by themselves, while in the oil and gas sector, the amount of the costs must be approved by [upstream oil and gas regulator] BPMigas,” he said.
Widjajono said that a coal and mineral mining company’s revenues were comprised of operational costs, the government’s share and the company’s share.
The higher the costs, the smaller the returns to the government would be, he added.
Indonesian Coal Mining Association (APBI) chairman Bob Kamandanu told the Post that all costs and expenditures reported to the tax office and the Energy and Mineral Resources Ministry were audited first so there was only a very small possibility for a coal miner to balloon their operational cost figures.
“We have a tax officer supervising each coal company. Our financial statements must also be audited by public auditors. We are also audited by the Development Finance Comptroller [BPKP],” he said.
Bob said that the operational costs of coal miners usually came from subcontractors who charged them for each project undertaken.
Coal mining companies checked the validity of prices listed on invoices submitted by subcontractors before approving them, Bob added.
“However, we will fully support it if the government wants to improve its supervision of coal mining companies to check whether there is something wrong,” Bob said.
Indonesia’s coal production is estimated to reach 370 million tons in 2011, with 65 million tons allocated for the domestic market.
The Energy and Mineral Resources Ministry previously said it expected investment in the mineral and coal mining sector to reach US$3.2 billion this year, a slight increase from last year’s figure of $3.18 billion.
Source: The Jakarta Post (By Rangga D. Fadillah)
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Wednesday, 02 November 11
MMTC TO BUY 3.73 MILLION TONS OF COAL FOR 2011- 2013
COALspot.com - India’s state-owned coal and mineral trader MMTC looking for 3.73 million tons of power plant coal for the period 2011 - 2012/ ...
Wednesday, 02 November 11
PANAMAX MARKET BECAME QUIETER AFTER THE RECENT RECOVERY - BRS
There were substantial losses across the board this week: the BDI lost 6.3% to end at 2,018 and the BCI 8.2% to end 3,274. In the smaller sizes the ...
Tuesday, 01 November 11
BORNEO LUMBUNG BUYS 23.8% INTEREST IN BUMI
COALspot.com - PT. Borneo Lumbung Energi (BORN), an Indonesian coking coal producer announces that it has signed a sale and purchase agreement, cond ...
Tuesday, 01 November 11
BAKRIE FORMS STRATEGIC PARTNERSHIP WITH BORNEO - REDUCING DEBT BY USD 1 BILLION
Press Release - Enhancing the standing of “Indonesia Inc.” at the London Stock Exchange PT Bakrie & Brothers Tbk (“BNBR” ...
Tuesday, 01 November 11
ATLAS RESOURCES SETS IPO AT RP1,500 - INSIDER STORIES
Insider Stories reported that, coal miner PT Atlas Resources Tbk has set its initial public offering (IPO) at Rp1,500 (approximately US$ 0.169) per ...
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- Parliament of New Zealand
- Interocean Group of Companies - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Posco Energy - South Korea
- Toyota Tsusho Corporation, Japan
- New Zealand Coal & Carbon
- GMR Energy Limited - India
- Coal and Oil Company - UAE
- Sindya Power Generating Company Private Ltd
- Vedanta Resources Plc - India
- Bulk Trading Sa - Switzerland
- Bank of Tokyo Mitsubishi UFJ Ltd
- Planning Commission, India
- Australian Coal Association
- Central Java Power - Indonesia
- Mintek Dendrill Indonesia
- Makarim & Taira - Indonesia
- The Treasury - Australian Government
- Manunggal Multi Energi - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- TeaM Sual Corporation - Philippines
- Karbindo Abesyapradhi - Indoneisa
- Parry Sugars Refinery, India
- Aboitiz Power Corporation - Philippines
- SMG Consultants - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- San Jose City I Power Corp, Philippines
- Ambuja Cements Ltd - India
- Sree Jayajothi Cements Limited - India
- Intertek Mineral Services - Indonesia
- Energy Development Corp, Philippines
- Baramulti Group, Indonesia
- International Coal Ventures Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- Metalloyd Limited - United Kingdom
- Pipit Mutiara Jaya. PT, Indonesia
- SMC Global Power, Philippines
- Thai Mozambique Logistica
- Sakthi Sugars Limited - India
- Gujarat Electricity Regulatory Commission - India
- Bhushan Steel Limited - India
- Bhoruka Overseas - Indonesia
- London Commodity Brokers - England
- Orica Australia Pty. Ltd.
- Binh Thuan Hamico - Vietnam
- Sojitz Corporation - Japan
- Kepco SPC Power Corporation, Philippines
- CNBM International Corporation - China
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Orica Mining Services - Indonesia
- Grasim Industreis Ltd - India
- Economic Council, Georgia
- Indika Energy - Indonesia
- Semirara Mining Corp, Philippines
- Port Waratah Coal Services - Australia
- Miang Besar Coal Terminal - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Pendopo Energi Batubara - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Mjunction Services Limited - India
- LBH Netherlands Bv - Netherlands
- Essar Steel Hazira Ltd - India
- Siam City Cement PLC, Thailand
- Dalmia Cement Bharat India
- Krishnapatnam Port Company Ltd. - India
- Anglo American - United Kingdom
- Iligan Light & Power Inc, Philippines
- PTC India Limited - India
- Videocon Industries ltd - India
- Medco Energi Mining Internasional
- Siam City Cement - Thailand
- Bukit Makmur.PT - Indonesia
- Globalindo Alam Lestari - Indonesia
- Gujarat Sidhee Cement - India
- Chamber of Mines of South Africa
- Lanco Infratech Ltd - India
- Wood Mackenzie - Singapore
- Vijayanagar Sugar Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- Singapore Mercantile Exchange
- Billiton Holdings Pty Ltd - Australia
- Alfred C Toepfer International GmbH - Germany
- The University of Queensland
- Offshore Bulk Terminal Pte Ltd, Singapore
- Africa Commodities Group - South Africa
- Carbofer General Trading SA - India
- Heidelberg Cement - Germany
- Maheswari Brothers Coal Limited - India
- GVK Power & Infra Limited - India
- Indogreen Group - Indonesia
- Electricity Generating Authority of Thailand
- Aditya Birla Group - India
- Kobexindo Tractors - Indoneisa
- Riau Bara Harum - Indonesia
- Energy Link Ltd, New Zealand
- Global Green Power PLC Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Madhucon Powers Ltd - India
- Australian Commodity Traders Exchange
- Independent Power Producers Association of India
- Electricity Authority, New Zealand
- Petrochimia International Co. Ltd.- Taiwan
- Goldman Sachs - Singapore
- Power Finance Corporation Ltd., India
- Meralco Power Generation, Philippines
- Bhatia International Limited - India
- Kartika Selabumi Mining - Indonesia
- Salva Resources Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- Deloitte Consulting - India
- Tamil Nadu electricity Board
- White Energy Company Limited
- VISA Power Limited - India
- Sical Logistics Limited - India
- Renaissance Capital - South Africa
- Savvy Resources Ltd - HongKong
- Jaiprakash Power Ventures ltd
- The State Trading Corporation of India Ltd
- Romanian Commodities Exchange
- Chettinad Cement Corporation Ltd - India
- Coalindo Energy - Indonesia
- Bukit Baiduri Energy - Indonesia
- Marubeni Corporation - India
- Holcim Trading Pte Ltd - Singapore
- AsiaOL BioFuels Corp., Philippines
- Star Paper Mills Limited - India
- CIMB Investment Bank - Malaysia
- Merrill Lynch Commodities Europe
- Kideco Jaya Agung - Indonesia
- Trasteel International SA, Italy
- Gujarat Mineral Development Corp Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Uttam Galva Steels Limited - India
- Therma Luzon, Inc, Philippines
- Xindia Steels Limited - India
- Edison Trading Spa - Italy
- Standard Chartered Bank - UAE
- Ceylon Electricity Board - Sri Lanka
- OPG Power Generation Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Agrawal Coal Company - India
- Indonesian Coal Mining Association
- Rashtriya Ispat Nigam Limited - India
- Kumho Petrochemical, South Korea
- Indian Oil Corporation Limited
- Indian Energy Exchange, India
- South Luzon Thermal Energy Corporation
- Thiess Contractors Indonesia
- Eastern Coal Council - USA
- Oldendorff Carriers - Singapore
- Meenaskhi Energy Private Limited - India
- Semirara Mining and Power Corporation, Philippines
- Rio Tinto Coal - Australia
- Coastal Gujarat Power Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Simpson Spence & Young - Indonesia
- Eastern Energy - Thailand
- Jorong Barutama Greston.PT - Indonesia
- GAC Shipping (India) Pvt Ltd
- Kohat Cement Company Ltd. - Pakistan
- Vizag Seaport Private Limited - India
- Bayan Resources Tbk. - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Timah Investasi Mineral - Indoneisa
- Central Electricity Authority - India
- Tata Chemicals Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Ministry of Finance - Indonesia
- Global Coal Blending Company Limited - Australia
- IHS Mccloskey Coal Group - USA
- Price Waterhouse Coopers - Russia
- Kaltim Prima Coal - Indonesia
- McConnell Dowell - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Georgia Ports Authority, United States
- SN Aboitiz Power Inc, Philippines
- Petron Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- Wilmar Investment Holdings
- Cement Manufacturers Association - India
- Bharathi Cement Corporation - India
- Global Business Power Corporation, Philippines
- Minerals Council of Australia
- ICICI Bank Limited - India
- India Bulls Power Limited - India
- Ind-Barath Power Infra Limited - India
- Jindal Steel & Power Ltd - India
- Larsen & Toubro Limited - India
- Barasentosa Lestari - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Bangladesh Power Developement Board
- Commonwealth Bank - Australia
- Malabar Cements Ltd - India
- Borneo Indobara - Indonesia
- Mercuria Energy - Indonesia
- Formosa Plastics Group - Taiwan
- IEA Clean Coal Centre - UK
- ASAPP Information Group - India
- PowerSource Philippines DevCo
- Altura Mining Limited, Indonesia
- Ministry of Mines - Canada
- Antam Resourcindo - Indonesia
- Sarangani Energy Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- Ministry of Transport, Egypt
- Latin American Coal - Colombia
- Bukit Asam (Persero) Tbk - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- European Bulk Services B.V. - Netherlands
- Attock Cement Pakistan Limited
- MS Steel International - UAE
- Samtan Co., Ltd - South Korea
- Mercator Lines Limited - India
- Indo Tambangraya Megah - Indonesia
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