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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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- Essar Steel Hazira Ltd - India
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- Bukit Baiduri Energy - Indonesia
- Deloitte Consulting - India
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- Sinarmas Energy and Mining - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Bulk Trading Sa - Switzerland
- Metalloyd Limited - United Kingdom
- Salva Resources Pvt Ltd - India
- Thiess Contractors Indonesia
- CIMB Investment Bank - Malaysia
- Georgia Ports Authority, United States
- Parliament of New Zealand
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- Coal and Oil Company - UAE
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- Chamber of Mines of South Africa
- Vedanta Resources Plc - India
- Energy Link Ltd, New Zealand
- Bangladesh Power Developement Board
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- Cigading International Bulk Terminal - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Neyveli Lignite Corporation Ltd, - India
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- Pendopo Energi Batubara - Indonesia
- New Zealand Coal & Carbon
- Indonesian Coal Mining Association
- Port Waratah Coal Services - Australia
- Indian Oil Corporation Limited
- Economic Council, Georgia
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- Billiton Holdings Pty Ltd - Australia
- The University of Queensland
- Therma Luzon, Inc, Philippines
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- Bhushan Steel Limited - India
- Interocean Group of Companies - India
- Thai Mozambique Logistica
- Ministry of Mines - Canada
- Coastal Gujarat Power Limited - India
- Global Business Power Corporation, Philippines
- Medco Energi Mining Internasional
- Barasentosa Lestari - Indonesia
- Sarangani Energy Corporation, Philippines
- Carbofer General Trading SA - India
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- Karbindo Abesyapradhi - Indoneisa
- Mercuria Energy - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Malabar Cements Ltd - India
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- Sical Logistics Limited - India
- Kobexindo Tractors - Indoneisa
- ICICI Bank Limited - India
- Riau Bara Harum - Indonesia
- Eastern Coal Council - USA
- Madhucon Powers Ltd - India
- Africa Commodities Group - South Africa
- Power Finance Corporation Ltd., India
- Mintek Dendrill Indonesia
- PNOC Exploration Corporation - Philippines
- Holcim Trading Pte Ltd - Singapore
- Ministry of Finance - Indonesia
- Binh Thuan Hamico - Vietnam
- Edison Trading Spa - Italy
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- South Luzon Thermal Energy Corporation
- London Commodity Brokers - England
- Kohat Cement Company Ltd. - Pakistan
- Merrill Lynch Commodities Europe
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- TeaM Sual Corporation - Philippines
- Sindya Power Generating Company Private Ltd
- San Jose City I Power Corp, Philippines
- Orica Australia Pty. Ltd.
- Ambuja Cements Ltd - India
- Bharathi Cement Corporation - India
- Bhatia International Limited - India
- Eastern Energy - Thailand
- The State Trading Corporation of India Ltd
- Commonwealth Bank - Australia
- GN Power Mariveles Coal Plant, Philippines
- Banpu Public Company Limited - Thailand
- Central Electricity Authority - India
- ASAPP Information Group - India
- White Energy Company Limited
- Formosa Plastics Group - Taiwan
- Manunggal Multi Energi - Indonesia
- Indika Energy - Indonesia
- Ind-Barath Power Infra Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Chettinad Cement Corporation Ltd - India
- Kapuas Tunggal Persada - Indonesia
- GVK Power & Infra Limited - India
- Latin American Coal - Colombia
- Minerals Council of Australia
- LBH Netherlands Bv - Netherlands
- Kideco Jaya Agung - Indonesia
- Romanian Commodities Exchange
- Directorate General of MIneral and Coal - Indonesia
- IHS Mccloskey Coal Group - USA
- Jaiprakash Power Ventures ltd
- Iligan Light & Power Inc, Philippines
- SMG Consultants - Indonesia
- Attock Cement Pakistan Limited
- MS Steel International - UAE
- SN Aboitiz Power Inc, Philippines
- SMC Global Power, Philippines
- Star Paper Mills Limited - India
- Indian Energy Exchange, India
- Altura Mining Limited, Indonesia
- Parry Sugars Refinery, India
- Cement Manufacturers Association - India
- Singapore Mercantile Exchange
- Kaltim Prima Coal - Indonesia
- Tata Chemicals Ltd - India
- Meenaskhi Energy Private Limited - India
- Electricity Authority, New Zealand
- AsiaOL BioFuels Corp., Philippines
- Australian Coal Association
- Aditya Birla Group - India
- Central Java Power - Indonesia
- Makarim & Taira - Indonesia
- Straits Asia Resources Limited - Singapore
- Baramulti Group, Indonesia
- Independent Power Producers Association of India
- Meralco Power Generation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Vizag Seaport Private Limited - India
- Goldman Sachs - Singapore
- Wood Mackenzie - Singapore
- Siam City Cement PLC, Thailand
- Agrawal Coal Company - India
- Australian Commodity Traders Exchange
- Semirara Mining Corp, Philippines
- Planning Commission, India
- Anglo American - United Kingdom
- Bukit Makmur.PT - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Dalmia Cement Bharat India
- Petrochimia International Co. Ltd.- Taiwan
- Krishnapatnam Port Company Ltd. - India
- Bahari Cakrawala Sebuku - Indonesia
- PTC India Limited - India
- Tamil Nadu electricity Board
- Siam City Cement - Thailand
- Bayan Resources Tbk. - Indonesia
- Antam Resourcindo - Indonesia
- Electricity Generating Authority of Thailand
- Gujarat Electricity Regulatory Commission - India
- Vijayanagar Sugar Pvt Ltd - India
- Coalindo Energy - Indonesia
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- Bank of Tokyo Mitsubishi UFJ Ltd
- TNB Fuel Sdn Bhd - Malaysia
- Karaikal Port Pvt Ltd - India
- McConnell Dowell - Australia
- Global Green Power PLC Corporation, Philippines
- Gujarat Sidhee Cement - India
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- Globalindo Alam Lestari - Indonesia
- Samtan Co., Ltd - South Korea
- PetroVietnam Power Coal Import and Supply Company
- European Bulk Services B.V. - Netherlands
- Leighton Contractors Pty Ltd - Australia
- Grasim Industreis Ltd - India
- Kepco SPC Power Corporation, Philippines
- Uttam Galva Steels Limited - India
- CNBM International Corporation - China
- GMR Energy Limited - India
- Price Waterhouse Coopers - Russia
- Sakthi Sugars Limited - India
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- Wilmar Investment Holdings
- IEA Clean Coal Centre - UK
- Posco Energy - South Korea
- Pipit Mutiara Jaya. PT, Indonesia
- Orica Mining Services - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- India Bulls Power Limited - India
- Rio Tinto Coal - Australia
- Mjunction Services Limited - India
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- Xindia Steels Limited - India
- Bhoruka Overseas - Indonesia
- Intertek Mineral Services - Indonesia
- Aboitiz Power Corporation - Philippines
- Heidelberg Cement - Germany
- The Treasury - Australian Government
- Kumho Petrochemical, South Korea
- Trasteel International SA, Italy
- Indo Tambangraya Megah - Indonesia
- Indogreen Group - Indonesia
- Sojitz Corporation - Japan
- International Coal Ventures Pvt Ltd - India
- Oldendorff Carriers - Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ministry of Transport, Egypt
- Maheswari Brothers Coal Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
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- Energy Development Corp, Philippines
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- PowerSource Philippines DevCo
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