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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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Sunday, 20 November 11
THE FREIGHT MARKETS EXPECTED TO BE FIRM NEXT WEEK - VISTAAR
COALspot.com - The market continued to move up with all sectors gaining except for handy size.
The BDI was up by 3.26 pct and closed at 1895 poin ...
Friday, 18 November 11
MMTC SEEKS 1.365 MMT OF IMPORTED COAL
COALspot.com - India's MMTC, the largest trading company of India and a major trading company of Asia, has issued a term supply tender for 1.365Mt ...
Friday, 18 November 11
KPC, ARUTMIN OUTPUT REACHED 47.1 MIO TONS - INSIDER STORIES
PT Kaltim Prima Coal (KPC) and PT Arutmin Indonesia, reported 47.1 million tons of coal production in 9M 2011, according to Indiser Stories.
Insi ...
Friday, 18 November 11
THE ATLANTIC SUPRAMAX MARKET EXPERIENCED A STEADY AND FIRM TENDENCY
Handy
The Atlantic Supramax market experienced a steady and firm tendency this week. Especially the North Atlantic and Mediterranean position ...
Friday, 18 November 11
BERAU COAL 9M PROFIT SOARS 194.46% - INSIDER STORIES
Insider Stories reported that, PT Berau Coal Energy Tbk (BRAU), which is 84.7% owned by Bumi Plc, reported a 194.46% jump in net profit by end of Se ...
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- Interocean Group of Companies - India
- Bukit Makmur.PT - Indonesia
- Aditya Birla Group - India
- Independent Power Producers Association of India
- Leighton Contractors Pty Ltd - Australia
- Indogreen Group - Indonesia
- Timah Investasi Mineral - Indoneisa
- Carbofer General Trading SA - India
- Mjunction Services Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sinarmas Energy and Mining - Indonesia
- The University of Queensland
- Power Finance Corporation Ltd., India
- Dalmia Cement Bharat India
- Therma Luzon, Inc, Philippines
- Petron Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- Binh Thuan Hamico - Vietnam
- GAC Shipping (India) Pvt Ltd
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Jindal Steel & Power Ltd - India
- Port Waratah Coal Services - Australia
- PetroVietnam Power Coal Import and Supply Company
- CNBM International Corporation - China
- Antam Resourcindo - Indonesia
- London Commodity Brokers - England
- Indonesian Coal Mining Association
- Maharashtra Electricity Regulatory Commission - India
- Singapore Mercantile Exchange
- SN Aboitiz Power Inc, Philippines
- New Zealand Coal & Carbon
- Thiess Contractors Indonesia
- Economic Council, Georgia
- Cigading International Bulk Terminal - Indonesia
- Savvy Resources Ltd - HongKong
- Holcim Trading Pte Ltd - Singapore
- Kapuas Tunggal Persada - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Global Green Power PLC Corporation, Philippines
- Pendopo Energi Batubara - Indonesia
- Ministry of Mines - Canada
- Bangladesh Power Developement Board
- TeaM Sual Corporation - Philippines
- Globalindo Alam Lestari - Indonesia
- Larsen & Toubro Limited - India
- Indian Oil Corporation Limited
- Merrill Lynch Commodities Europe
- Kideco Jaya Agung - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Kobexindo Tractors - Indoneisa
- Offshore Bulk Terminal Pte Ltd, Singapore
- Jaiprakash Power Ventures ltd
- Tamil Nadu electricity Board
- Miang Besar Coal Terminal - Indonesia
- Latin American Coal - Colombia
- Eastern Coal Council - USA
- Lanco Infratech Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Sarangani Energy Corporation, Philippines
- Wood Mackenzie - Singapore
- Gujarat Sidhee Cement - India
- Indo Tambangraya Megah - Indonesia
- Bukit Baiduri Energy - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Asmin Koalindo Tuhup - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Karbindo Abesyapradhi - Indoneisa
- Baramulti Group, Indonesia
- Straits Asia Resources Limited - Singapore
- PTC India Limited - India
- Madhucon Powers Ltd - India
- Posco Energy - South Korea
- Price Waterhouse Coopers - Russia
- ASAPP Information Group - India
- Borneo Indobara - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- LBH Netherlands Bv - Netherlands
- Formosa Plastics Group - Taiwan
- Kepco SPC Power Corporation, Philippines
- Deloitte Consulting - India
- Star Paper Mills Limited - India
- Bulk Trading Sa - Switzerland
- Heidelberg Cement - Germany
- Alfred C Toepfer International GmbH - Germany
- GMR Energy Limited - India
- Vizag Seaport Private Limited - India
- IHS Mccloskey Coal Group - USA
- Bharathi Cement Corporation - India
- Global Coal Blending Company Limited - Australia
- Agrawal Coal Company - India
- Indika Energy - Indonesia
- Thai Mozambique Logistica
- Coal and Oil Company - UAE
- San Jose City I Power Corp, Philippines
- Ambuja Cements Ltd - India
- Iligan Light & Power Inc, Philippines
- Anglo American - United Kingdom
- South Luzon Thermal Energy Corporation
- Bank of Tokyo Mitsubishi UFJ Ltd
- Barasentosa Lestari - Indonesia
- India Bulls Power Limited - India
- Sindya Power Generating Company Private Ltd
- Rio Tinto Coal - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Malabar Cements Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Directorate Of Revenue Intelligence - India
- Kumho Petrochemical, South Korea
- PowerSource Philippines DevCo
- OPG Power Generation Pvt Ltd - India
- Aboitiz Power Corporation - Philippines
- Romanian Commodities Exchange
- Ind-Barath Power Infra Limited - India
- Altura Mining Limited, Indonesia
- Sical Logistics Limited - India
- Planning Commission, India
- Bhushan Steel Limited - India
- The State Trading Corporation of India Ltd
- Videocon Industries ltd - India
- Chamber of Mines of South Africa
- Bayan Resources Tbk. - Indonesia
- Edison Trading Spa - Italy
- Rashtriya Ispat Nigam Limited - India
- Trasteel International SA, Italy
- Electricity Authority, New Zealand
- Banpu Public Company Limited - Thailand
- Sojitz Corporation - Japan
- Goldman Sachs - Singapore
- Parry Sugars Refinery, India
- Pipit Mutiara Jaya. PT, Indonesia
- Global Business Power Corporation, Philippines
- Minerals Council of Australia
- Kaltim Prima Coal - Indonesia
- Energy Link Ltd, New Zealand
- Kartika Selabumi Mining - Indonesia
- European Bulk Services B.V. - Netherlands
- Mercuria Energy - Indonesia
- Energy Development Corp, Philippines
- White Energy Company Limited
- Orica Mining Services - Indonesia
- Australian Coal Association
- Mercator Lines Limited - India
- Australian Commodity Traders Exchange
- MS Steel International - UAE
- IEA Clean Coal Centre - UK
- Commonwealth Bank - Australia
- Oldendorff Carriers - Singapore
- Vedanta Resources Plc - India
- Simpson Spence & Young - Indonesia
- Orica Australia Pty. Ltd.
- Chettinad Cement Corporation Ltd - India
- Indian Energy Exchange, India
- Siam City Cement - Thailand
- CIMB Investment Bank - Malaysia
- Essar Steel Hazira Ltd - India
- Central Electricity Authority - India
- SMG Consultants - Indonesia
- PNOC Exploration Corporation - Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Xindia Steels Limited - India
- Ministry of Finance - Indonesia
- Meenaskhi Energy Private Limited - India
- Coalindo Energy - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- GVK Power & Infra Limited - India
- Tata Chemicals Ltd - India
- Metalloyd Limited - United Kingdom
- Intertek Mineral Services - Indonesia
- Bhoruka Overseas - Indonesia
- Central Java Power - Indonesia
- Marubeni Corporation - India
- Gujarat Mineral Development Corp Ltd - India
- Bhatia International Limited - India
- Manunggal Multi Energi - Indonesia
- Parliament of New Zealand
- VISA Power Limited - India
- AsiaOL BioFuels Corp., Philippines
- Ceylon Electricity Board - Sri Lanka
- ICICI Bank Limited - India
- Standard Chartered Bank - UAE
- International Coal Ventures Pvt Ltd - India
- Riau Bara Harum - Indonesia
- Sree Jayajothi Cements Limited - India
- Samtan Co., Ltd - South Korea
- Medco Energi Mining Internasional
- Eastern Energy - Thailand
- Neyveli Lignite Corporation Ltd, - India
- The Treasury - Australian Government
- Ministry of Transport, Egypt
- Africa Commodities Group - South Africa
- Semirara Mining and Power Corporation, Philippines
- SMC Global Power, Philippines
- Attock Cement Pakistan Limited
- Renaissance Capital - South Africa
- Sakthi Sugars Limited - India
- Uttam Galva Steels Limited - India
- Grasim Industreis Ltd - India
- Coastal Gujarat Power Limited - India
- Siam City Cement PLC, Thailand
- Makarim & Taira - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Cement Manufacturers Association - India
- Electricity Generating Authority of Thailand
- Salva Resources Pvt Ltd - India
- McConnell Dowell - Australia
- Karaikal Port Pvt Ltd - India
- Mintek Dendrill Indonesia
- Wilmar Investment Holdings
- Meralco Power Generation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Georgia Ports Authority, United States
- Toyota Tsusho Corporation, Japan
- Semirara Mining Corp, Philippines
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