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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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Monday, 19 December 11
PLN WILL NO LONGER BUY COAL FROM TRADERS
COALspot.com - Indonesia's state electricity company PT Perusahaan Listrik Negara will no longer allow traders to become their suppliers, said, its ...
Saturday, 17 December 11
THE FREIGHT MARKET SEEMS TO HAVE ALMOST BOTTOMED OUT AND MAY REMAIN STEADY AT THESE LEVELS CAPT REDDY
COALspot.com - The BDI and Cape index closed lower this week with BDI closing at 1,888 points (down by 1.76 pct) and Cape index at 3,572 points (dow ...
Friday, 16 December 11
DRY BULK MARKET LOSES TRACK ON CAPESIZE LOSSES, SHIP FINANCING REMAINS TROUBLESOME - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market didn’t manage to sustain earlier gains, losing track yesterday, on reduced Capesize demand and persisting troubles in smal ...
Thursday, 15 December 11
BERAU SEES INDIA AS POTENTIAL MARKET FOR LOW-CALORIE COAL - THE JAKARTA POST
The Jakarta Post reported that, Publicly listed coal mining company PT Berau Coal Energy (BRAU), the fifth largest coal producer in Indonesia, sees ...
Thursday, 15 December 11
PANAMAX HARDLY AFFECTED BY THE RECENT FIRMER TENDENCY FOR THE BIG SISTERS - FEARNBULK
Handy
The rates are more or less the same as last week. Continent/US Gulf fixing at tick below USD 10k and Gulf/Continent levels at USD 25k. Trips ...
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- Ministry of Transport, Egypt
- Barasentosa Lestari - Indonesia
- Commonwealth Bank - Australia
- Bharathi Cement Corporation - India
- Coal and Oil Company - UAE
- IEA Clean Coal Centre - UK
- Petron Corporation, Philippines
- Independent Power Producers Association of India
- Manunggal Multi Energi - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Indian Oil Corporation Limited
- Simpson Spence & Young - Indonesia
- Latin American Coal - Colombia
- LBH Netherlands Bv - Netherlands
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Malabar Cements Ltd - India
- Globalindo Alam Lestari - Indonesia
- Salva Resources Pvt Ltd - India
- Indogreen Group - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Power Finance Corporation Ltd., India
- Binh Thuan Hamico - Vietnam
- Chamber of Mines of South Africa
- Jaiprakash Power Ventures ltd
- Sinarmas Energy and Mining - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Tamil Nadu electricity Board
- Videocon Industries ltd - India
- Bulk Trading Sa - Switzerland
- Mjunction Services Limited - India
- Interocean Group of Companies - India
- The University of Queensland
- Indika Energy - Indonesia
- McConnell Dowell - Australia
- Coastal Gujarat Power Limited - India
- PowerSource Philippines DevCo
- Central Electricity Authority - India
- India Bulls Power Limited - India
- Semirara Mining Corp, Philippines
- Thiess Contractors Indonesia
- Planning Commission, India
- TNB Fuel Sdn Bhd - Malaysia
- Ceylon Electricity Board - Sri Lanka
- ICICI Bank Limited - India
- Australian Coal Association
- Madhucon Powers Ltd - India
- Straits Asia Resources Limited - Singapore
- SMC Global Power, Philippines
- Africa Commodities Group - South Africa
- Antam Resourcindo - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Vizag Seaport Private Limited - India
- Sarangani Energy Corporation, Philippines
- Orica Mining Services - Indonesia
- Siam City Cement PLC, Thailand
- Mintek Dendrill Indonesia
- Carbofer General Trading SA - India
- Riau Bara Harum - Indonesia
- TeaM Sual Corporation - Philippines
- Rashtriya Ispat Nigam Limited - India
- Price Waterhouse Coopers - Russia
- Ind-Barath Power Infra Limited - India
- Australian Commodity Traders Exchange
- Bukit Makmur.PT - Indonesia
- Indo Tambangraya Megah - Indonesia
- South Luzon Thermal Energy Corporation
- Altura Mining Limited, Indonesia
- Ministry of Finance - Indonesia
- Rio Tinto Coal - Australia
- Maharashtra Electricity Regulatory Commission - India
- Banpu Public Company Limited - Thailand
- PTC India Limited - India
- Toyota Tsusho Corporation, Japan
- CIMB Investment Bank - Malaysia
- Pipit Mutiara Jaya. PT, Indonesia
- Minerals Council of Australia
- Central Java Power - Indonesia
- MS Steel International - UAE
- Renaissance Capital - South Africa
- Bangladesh Power Developement Board
- OPG Power Generation Pvt Ltd - India
- Global Business Power Corporation, Philippines
- Port Waratah Coal Services - Australia
- Kalimantan Lumbung Energi - Indonesia
- Electricity Authority, New Zealand
- The State Trading Corporation of India Ltd
- Samtan Co., Ltd - South Korea
- London Commodity Brokers - England
- Electricity Generating Authority of Thailand
- Indian Energy Exchange, India
- Baramulti Group, Indonesia
- Attock Cement Pakistan Limited
- PetroVietnam Power Coal Import and Supply Company
- Agrawal Coal Company - India
- Essar Steel Hazira Ltd - India
- Bukit Baiduri Energy - Indonesia
- Energy Development Corp, Philippines
- Bhushan Steel Limited - India
- Standard Chartered Bank - UAE
- Wood Mackenzie - Singapore
- Parliament of New Zealand
- New Zealand Coal & Carbon
- Eastern Coal Council - USA
- Global Green Power PLC Corporation, Philippines
- Kepco SPC Power Corporation, Philippines
- Anglo American - United Kingdom
- Directorate Of Revenue Intelligence - India
- Sree Jayajothi Cements Limited - India
- Kobexindo Tractors - Indoneisa
- Leighton Contractors Pty Ltd - Australia
- Star Paper Mills Limited - India
- Aboitiz Power Corporation - Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- International Coal Ventures Pvt Ltd - India
- SMG Consultants - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Gujarat Electricity Regulatory Commission - India
- Ambuja Cements Ltd - India
- PNOC Exploration Corporation - Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sical Logistics Limited - India
- Sakthi Sugars Limited - India
- SN Aboitiz Power Inc, Philippines
- Iligan Light & Power Inc, Philippines
- Xindia Steels Limited - India
- Kumho Petrochemical, South Korea
- Aditya Birla Group - India
- Meenaskhi Energy Private Limited - India
- Jorong Barutama Greston.PT - Indonesia
- The Treasury - Australian Government
- Chettinad Cement Corporation Ltd - India
- Pendopo Energi Batubara - Indonesia
- Gujarat Sidhee Cement - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Eastern Energy - Thailand
- Sojitz Corporation - Japan
- Global Coal Blending Company Limited - Australia
- Karbindo Abesyapradhi - Indoneisa
- GMR Energy Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Deloitte Consulting - India
- CNBM International Corporation - China
- Formosa Plastics Group - Taiwan
- Meralco Power Generation, Philippines
- ASAPP Information Group - India
- Gujarat Mineral Development Corp Ltd - India
- Edison Trading Spa - Italy
- Kartika Selabumi Mining - Indonesia
- GVK Power & Infra Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Orica Australia Pty. Ltd.
- Intertek Mineral Services - Indonesia
- Metalloyd Limited - United Kingdom
- Mercator Lines Limited - India
- Therma Luzon, Inc, Philippines
- Maheswari Brothers Coal Limited - India
- Tata Chemicals Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Jindal Steel & Power Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Timah Investasi Mineral - Indoneisa
- Alfred C Toepfer International GmbH - Germany
- Oldendorff Carriers - Singapore
- Billiton Holdings Pty Ltd - Australia
- Merrill Lynch Commodities Europe
- Cement Manufacturers Association - India
- IHS Mccloskey Coal Group - USA
- Coalindo Energy - Indonesia
- Bhatia International Limited - India
- Kaltim Prima Coal - Indonesia
- San Jose City I Power Corp, Philippines
- Uttam Galva Steels Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Karaikal Port Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- Energy Link Ltd, New Zealand
- Heidelberg Cement - Germany
- Makarim & Taira - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Medco Energi Mining Internasional
- Sindya Power Generating Company Private Ltd
- Indonesian Coal Mining Association
- Directorate General of MIneral and Coal - Indonesia
- Lanco Infratech Ltd - India
- Ministry of Mines - Canada
- Romanian Commodities Exchange
- Georgia Ports Authority, United States
- Borneo Indobara - Indonesia
- Posco Energy - South Korea
- Singapore Mercantile Exchange
- Parry Sugars Refinery, India
- Grasim Industreis Ltd - India
- White Energy Company Limited
- Trasteel International SA, Italy
- Vedanta Resources Plc - India
- VISA Power Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Semirara Mining and Power Corporation, Philippines
- Marubeni Corporation - India
- Larsen & Toubro Limited - India
- Siam City Cement - Thailand
- Bayan Resources Tbk. - Indonesia
- Kideco Jaya Agung - Indonesia
- Savvy Resources Ltd - HongKong
- GN Power Mariveles Coal Plant, Philippines
- Goldman Sachs - Singapore
- Thai Mozambique Logistica
- Economic Council, Georgia
- Bhoruka Overseas - Indonesia
- GAC Shipping (India) Pvt Ltd
- Mercuria Energy - Indonesia
- Wilmar Investment Holdings
- Dalmia Cement Bharat India
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