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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, 26 October 11
INDIAN MARKET WAS REMAINED TIGHT THE WHOLE LAST WEEK - BRS
The market once more seems to be at a crossroads. The indices last week remained fairly stable (except for the Panamax sector), ending the week as f ...
Tuesday, 25 October 11
DRY BULK MARKET STEADY, ANALYSTS LOOKING FOR ADDED PRESSURE ON THE MARKET - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market was unchanged on Monday, with the industry’s benchmark, the BDI (Baltic Dry Index) ending the session at 2,153 points, exa ...
Monday, 24 October 11
NEW HEAD OF INDONESIA'S MINING MINISTRY GETS RAKED OVER THE COALS - JOSEPH KIRSCHKE
COALspot.com - Following Indonesia’s presidential cabinet shakeup last week, many are questioning the qualifications of Energy and Mineral Res ...
Monday, 24 October 11
CHINA QINHUANGDAO COAL PRICE RISES TO HIGHEST IN THREE YEARS - BUSINESSWEEK
Business week reported that, China’s power-station coal price rose to the highest level in three years as power stations and central heating p ...
Monday, 24 October 11
CAPESIZE RENTAL RATES RISE FOR THIRD DAY AS MORE SHIPS HIRED - HELLENIC SHIPPING
Rates to hire capesize vessels advanced for a third day on signs of increased demand to transport iron ore, used to make steel.Daily rates for the s ...
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- Orica Mining Services - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Lanco Infratech Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- ICICI Bank Limited - India
- Pendopo Energi Batubara - Indonesia
- Madhucon Powers Ltd - India
- Jindal Steel & Power Ltd - India
- Bangladesh Power Developement Board
- Siam City Cement - Thailand
- Bulk Trading Sa - Switzerland
- Billiton Holdings Pty Ltd - Australia
- CNBM International Corporation - China
- Tamil Nadu electricity Board
- Eastern Coal Council - USA
- London Commodity Brokers - England
- Posco Energy - South Korea
- Straits Asia Resources Limited - Singapore
- Antam Resourcindo - Indonesia
- Petron Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- Heidelberg Cement - Germany
- South Luzon Thermal Energy Corporation
- Coastal Gujarat Power Limited - India
- Kartika Selabumi Mining - Indonesia
- Gujarat Sidhee Cement - India
- The Treasury - Australian Government
- White Energy Company Limited
- Sree Jayajothi Cements Limited - India
- Intertek Mineral Services - Indonesia
- Interocean Group of Companies - India
- Merrill Lynch Commodities Europe
- Indian Energy Exchange, India
- Price Waterhouse Coopers - Russia
- Alfred C Toepfer International GmbH - Germany
- Malabar Cements Ltd - India
- Bhushan Steel Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- San Jose City I Power Corp, Philippines
- Edison Trading Spa - Italy
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- SMG Consultants - Indonesia
- Ambuja Cements Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Therma Luzon, Inc, Philippines
- Commonwealth Bank - Australia
- Borneo Indobara - Indonesia
- PTC India Limited - India
- Vizag Seaport Private Limited - India
- SMC Global Power, Philippines
- Karaikal Port Pvt Ltd - India
- Wilmar Investment Holdings
- Global Green Power PLC Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- Bharathi Cement Corporation - India
- Indo Tambangraya Megah - Indonesia
- Central Electricity Authority - India
- Maharashtra Electricity Regulatory Commission - India
- Bhoruka Overseas - Indonesia
- Thiess Contractors Indonesia
- Sojitz Corporation - Japan
- Minerals Council of Australia
- Baramulti Group, Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Power Finance Corporation Ltd., India
- LBH Netherlands Bv - Netherlands
- Uttam Galva Steels Limited - India
- Star Paper Mills Limited - India
- Binh Thuan Hamico - Vietnam
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indika Energy - Indonesia
- Chamber of Mines of South Africa
- Deloitte Consulting - India
- Kaltim Prima Coal - Indonesia
- Manunggal Multi Energi - Indonesia
- Global Coal Blending Company Limited - Australia
- Semirara Mining Corp, Philippines
- Timah Investasi Mineral - Indoneisa
- Directorate Of Revenue Intelligence - India
- Mercator Lines Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Energy Development Corp, Philippines
- Kepco SPC Power Corporation, Philippines
- Sarangani Energy Corporation, Philippines
- The State Trading Corporation of India Ltd
- OPG Power Generation Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Dalmia Cement Bharat India
- Meenaskhi Energy Private Limited - India
- Parliament of New Zealand
- AsiaOL BioFuels Corp., Philippines
- Banpu Public Company Limited - Thailand
- ASAPP Information Group - India
- Singapore Mercantile Exchange
- Ministry of Finance - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Bhatia International Limited - India
- Mintek Dendrill Indonesia
- Tata Chemicals Ltd - India
- Africa Commodities Group - South Africa
- Georgia Ports Authority, United States
- Sakthi Sugars Limited - India
- Grasim Industreis Ltd - India
- Sindya Power Generating Company Private Ltd
- Pipit Mutiara Jaya. PT, Indonesia
- Coal and Oil Company - UAE
- Wood Mackenzie - Singapore
- Parry Sugars Refinery, India
- Agrawal Coal Company - India
- Maheswari Brothers Coal Limited - India
- Mjunction Services Limited - India
- Australian Coal Association
- Ceylon Electricity Board - Sri Lanka
- Cigading International Bulk Terminal - Indonesia
- Videocon Industries ltd - India
- Cement Manufacturers Association - India
- Romanian Commodities Exchange
- PowerSource Philippines DevCo
- Neyveli Lignite Corporation Ltd, - India
- TeaM Sual Corporation - Philippines
- Anglo American - United Kingdom
- VISA Power Limited - India
- Gujarat Electricity Regulatory Commission - India
- Bayan Resources Tbk. - Indonesia
- Energy Link Ltd, New Zealand
- Riau Bara Harum - Indonesia
- Altura Mining Limited, Indonesia
- Savvy Resources Ltd - HongKong
- Independent Power Producers Association of India
- IEA Clean Coal Centre - UK
- Leighton Contractors Pty Ltd - Australia
- Simpson Spence & Young - Indonesia
- Kobexindo Tractors - Indoneisa
- Kohat Cement Company Ltd. - Pakistan
- Latin American Coal - Colombia
- Chettinad Cement Corporation Ltd - India
- Medco Energi Mining Internasional
- GMR Energy Limited - India
- Kapuas Tunggal Persada - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Larsen & Toubro Limited - India
- Eastern Energy - Thailand
- Goldman Sachs - Singapore
- Central Java Power - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Bukit Makmur.PT - Indonesia
- Electricity Generating Authority of Thailand
- Essar Steel Hazira Ltd - India
- Vedanta Resources Plc - India
- The University of Queensland
- Oldendorff Carriers - Singapore
- India Bulls Power Limited - India
- Ministry of Transport, Egypt
- IHS Mccloskey Coal Group - USA
- Renaissance Capital - South Africa
- Rio Tinto Coal - Australia
- Indian Oil Corporation Limited
- Salva Resources Pvt Ltd - India
- Indonesian Coal Mining Association
- Jorong Barutama Greston.PT - Indonesia
- Economic Council, Georgia
- Marubeni Corporation - India
- Jaiprakash Power Ventures ltd
- CIMB Investment Bank - Malaysia
- Samtan Co., Ltd - South Korea
- Ind-Barath Power Infra Limited - India
- Kumho Petrochemical, South Korea
- Holcim Trading Pte Ltd - Singapore
- Formosa Plastics Group - Taiwan
- Bukit Baiduri Energy - Indonesia
- Carbofer General Trading SA - India
- Australian Commodity Traders Exchange
- Indogreen Group - Indonesia
- McConnell Dowell - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Orica Australia Pty. Ltd.
- Trasteel International SA, Italy
- Ministry of Mines - Canada
- Kideco Jaya Agung - Indonesia
- Standard Chartered Bank - UAE
- Mercuria Energy - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Coalindo Energy - Indonesia
- Xindia Steels Limited - India
- Planning Commission, India
- Global Business Power Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- GVK Power & Infra Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Krishnapatnam Port Company Ltd. - India
- MS Steel International - UAE
- Iligan Light & Power Inc, Philippines
- Aditya Birla Group - India
- Attock Cement Pakistan Limited
- Port Waratah Coal Services - Australia
- Asmin Koalindo Tuhup - Indonesia
- Toyota Tsusho Corporation, Japan
- Siam City Cement PLC, Thailand
- Makarim & Taira - Indonesia
- GAC Shipping (India) Pvt Ltd
- PetroVietnam Power Coal Import and Supply Company
- Sical Logistics Limited - India
- Meralco Power Generation, Philippines
- Metalloyd Limited - United Kingdom
- Aboitiz Power Corporation - Philippines
- SN Aboitiz Power Inc, Philippines
- Barasentosa Lestari - Indonesia
- New Zealand Coal & Carbon
- Globalindo Alam Lestari - Indonesia
- Electricity Authority, New Zealand
- Thai Mozambique Logistica
- International Coal Ventures Pvt Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
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