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