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Monday, 05 April 10
RI TO SET REFERENCE FOR COMMODITIES - THE JAKARTA POST
 The Jakarta Post reported that, Indonesia is set to help establish global reference prices for mining and agricultural commodities, with the establishment of a privately owned Indonesia Commodity and Derivatives Exchange (ICDX).
The new exchange is expected to help improve the country’s underdeveloped futures market and make the country the fifth largest commodity futures exchange in the world, says Commodity Futures Trading Supervisory Board (Bappebti) head Deddy Saleh.
“We have permitted the establishment of a new exchange … because we’ve seen in the last 10 years that there have been no satisfactory results since the BBJ [Jakarta Futures Exchange] was established [in 2000],” he told reporters during a conference after the official launch of the ICDX.
He said the BBJ should have served as a price reference and a place for hedging but it had failed due to “the absence of competitors and slow management”.
According to Deddy, 98 percent of transactions occurring in the BBJ were alternative trading, such as foreign exchange and indexing, which were yet to be regulated.
“This [ICDX] is privately owned. A private company won’t play around with their capital,” said Deddy.
ICDX president director Megain Widjaja said trading in the ICDX would be transparent as transaction data could be accessed online and later on TV.
“We have cooperated with Bloomberg. But transactions are still closed [for time being] … We’ll later cooperate with Reuters so [transactions] can be accessed online and can be seen on TV and the internet.”
Trade Minister Mari Elka Pangestu, who was also present, said: “The importance of a commodity futures exchange is that transactions will be more liquid, more transparent and [we can be] a price reference,” she said.
She said farmers would have more bargaining power on prices when negotiating with their buyers, and thus, cartel practices — control over prices of a commodity by certain parties — could be avoided.
She also said foreign brokers and market traders were now allowed to trade in the exchange to make the country’s commodity futures exchange perform better.
The ICDX is now trading gold and crude palm oil (CPO) futures contracts.
The ICDX has listed 15 members, seven of whom are CPO producers. The members are PT Wilmar Nabati Indonesia, publicly listed PT Sinar Mas Agro Resources, publicly listed PT Sampoerna Agro, PT Duta Palma Nusantara, publicly listed PT BW Plantation, PT Palm Mas Asri, PT Danpac Futures, PT Valbury Asia Futures, PT Sinarmas Futures, PT Universal Futures, PT Aperdi and PT Monex Investindo.
The senior economist of Standard Chartered Bank Fauzi Ichsan said with Indonesia being the world’s largest CPO producer, “it is time to have a commodity futures exchange”. But, he said, big investors would likely trade in Singapore as the latter’s market was more liquid. “We hope they’re not only listed [in the ICDX] but that they will also trade in Indonesia,” he told The Jakarta Post.
Source: The Jakarta Post
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Tuesday, 08 September 09
INDONESIA OFFERS AN OPPORTUNITY TO INDIANS
Meri News reported that, Indonesia is all set to launch the country's second 10,000 MW accelerated power expansion programme. The new power develop ...
Tuesday, 08 September 09
BUKIT ASAM AIMS 14 MLN TONS COAL PRODUCTION
VIVA News reported that, The rise in coal production is mainly triggered by the step-up in domestic demand.
Coal mining company PT Tambang Batuba ...
Tuesday, 08 September 09
MERCHANT BANKERS ADVISE CIL ON INDONESIAN MINE BUYS
Business Standard reported that, State-owned Coal India Ltd (CIL) is being advised by four to five merchant bankers on acquisition of coal assets in ...
Tuesday, 08 September 09
THE 3RD ASIA PACIFIC COAL TRADING & INVESTMENT OUTLOOK 2009 - PRESS RELEASE
The 3rd Asia Pacific Coal Trading & Investment Outlook 2009
Analysis of Asia Coal Market amid Global Financial Crisis
COALspot.com(Chin ...
Tuesday, 08 September 09
SOUTH AFRICAN COAL EXPORTS MAY RISE ON SALES TO INDIA
Bloomberg reported that, South African coal exports may rise to 100 million metric tons a year by 2020 and India may become the biggest destination ...
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- Madhucon Powers Ltd - India
- New Zealand Coal & Carbon
- The University of Queensland
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- Eastern Coal Council - USA
- Dalmia Cement Bharat India
- Billiton Holdings Pty Ltd - Australia
- Binh Thuan Hamico - Vietnam
- Bhoruka Overseas - Indonesia
- Trasteel International SA, Italy
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- International Coal Ventures Pvt Ltd - India
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- Makarim & Taira - Indonesia
- Economic Council, Georgia
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- AsiaOL BioFuels Corp., Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ministry of Mines - Canada
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- London Commodity Brokers - England
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- PowerSource Philippines DevCo
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- Bukit Makmur.PT - Indonesia
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- ICICI Bank Limited - India
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- Orica Mining Services - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Global Green Power PLC Corporation, Philippines
- Ministry of Finance - Indonesia
- SN Aboitiz Power Inc, Philippines
- IHS Mccloskey Coal Group - USA
- ASAPP Information Group - India
- GMR Energy Limited - India
- PNOC Exploration Corporation - Philippines
- South Luzon Thermal Energy Corporation
- Bharathi Cement Corporation - India
- Sojitz Corporation - Japan
- Banpu Public Company Limited - Thailand
- IEA Clean Coal Centre - UK
- Renaissance Capital - South Africa
- Power Finance Corporation Ltd., India
- Therma Luzon, Inc, Philippines
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- Parry Sugars Refinery, India
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- San Jose City I Power Corp, Philippines
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- Kobexindo Tractors - Indoneisa
- Siam City Cement PLC, Thailand
- Karaikal Port Pvt Ltd - India
- Mintek Dendrill Indonesia
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- Agrawal Coal Company - India
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- PTC India Limited - India
- Wood Mackenzie - Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
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- Australian Commodity Traders Exchange
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- Lanco Infratech Ltd - India
- Thai Mozambique Logistica
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- Ind-Barath Power Infra Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Larsen & Toubro Limited - India
- Straits Asia Resources Limited - Singapore
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- Samtan Co., Ltd - South Korea
- Leighton Contractors Pty Ltd - Australia
- Bayan Resources Tbk. - Indonesia
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- Uttam Galva Steels Limited - India
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- Bahari Cakrawala Sebuku - Indonesia
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- Vedanta Resources Plc - India
- Karbindo Abesyapradhi - Indoneisa
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- Kaltim Prima Coal - Indonesia
- Chettinad Cement Corporation Ltd - India
- CIMB Investment Bank - Malaysia
- Siam City Cement - Thailand
- TNB Fuel Sdn Bhd - Malaysia
- Australian Coal Association
- Metalloyd Limited - United Kingdom
- Bhatia International Limited - India
- Kartika Selabumi Mining - Indonesia
- Sakthi Sugars Limited - India
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- Directorate Of Revenue Intelligence - India
- Semirara Mining and Power Corporation, Philippines
- Standard Chartered Bank - UAE
- Petron Corporation, Philippines
- Bangladesh Power Developement Board
- Sical Logistics Limited - India
- Attock Cement Pakistan Limited
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- Singapore Mercantile Exchange
- Indian Oil Corporation Limited
- Thiess Contractors Indonesia
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- Central Electricity Authority - India
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- Ceylon Electricity Board - Sri Lanka
- Rashtriya Ispat Nigam Limited - India
- Energy Development Corp, Philippines
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- Electricity Authority, New Zealand
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- Commonwealth Bank - Australia
- Chamber of Mines of South Africa
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- Indonesian Coal Mining Association
- Oldendorff Carriers - Singapore
- Kideco Jaya Agung - Indonesia
- SMG Consultants - Indonesia
- Cement Manufacturers Association - India
- Aboitiz Power Corporation - Philippines
- The Treasury - Australian Government
- Posco Energy - South Korea
- Riau Bara Harum - Indonesia
- McConnell Dowell - Australia
- Anglo American - United Kingdom
- Gujarat Sidhee Cement - India
- Edison Trading Spa - Italy
- PetroVietnam Power Coal Import and Supply Company
- Tamil Nadu electricity Board
- Toyota Tsusho Corporation, Japan
- Price Waterhouse Coopers - Russia
- Intertek Mineral Services - Indonesia
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- Coastal Gujarat Power Limited - India
- Holcim Trading Pte Ltd - Singapore
- Timah Investasi Mineral - Indoneisa
- Tata Chemicals Ltd - India
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- Neyveli Lignite Corporation Ltd, - India
- SMC Global Power, Philippines
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