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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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Sunday, 26 April 09
INDONESIAN GOVT SAYS COAL MINES CAUSE WEEKLONG FLOOD - THE JAKARTA POST
Samarinda administration in East Kalimantan admitted openly Thursday that the weeklong flood that paralyzed the city was caused by unruly management ...
Saturday, 25 April 09
FOREIGN SHARE DIVESTMENT STARTING THE 6TH YEAR OF PRODUCTION - MAJALAH TAMBANG
The government would set a divestment scheme for foreign miners, which would require companies to divest their ownership starting the 6th year of pr ...
Saturday, 25 April 09
INDO TAMBANGRAYA MEGAH ALLOCATED USD 126 MILLION FOR CAPITAL SPENDING - MAJALAH TAMBANG
Somyot Ruchirawat, President Director of PT Indo Tambangraya Megah, Tbk (ITMG), has announced the company's total dividend payment of Rp 1,345 per ...
Saturday, 25 April 09
MINING SECTOR IS STILL ON THE SURPLUS - THE JAKARTA POST
The global financial crisis is apparently also having an impact on the mining sector. People are thinking twice about investing in the mining sector ...
Saturday, 25 April 09
ADARO RUNS CATARACT OPERATION PROGRAM - THE JAKARTA POST
As part of its CSR program, thermal coal producer PT Adaro Indonesia has made cataract operations available to residents of Tandjung district, South ...
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- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Borneo Indobara - Indonesia
- Mercator Lines Limited - India
- Coal and Oil Company - UAE
- Riau Bara Harum - Indonesia
- Kepco SPC Power Corporation, Philippines
- Thiess Contractors Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Ministry of Transport, Egypt
- Formosa Plastics Group - Taiwan
- Sindya Power Generating Company Private Ltd
- IEA Clean Coal Centre - UK
- Central Java Power - Indonesia
- Malabar Cements Ltd - India
- Trasteel International SA, Italy
- The University of Queensland
- Singapore Mercantile Exchange
- Petron Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- Bhatia International Limited - India
- Orica Mining Services - Indonesia
- Toyota Tsusho Corporation, Japan
- Simpson Spence & Young - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- ICICI Bank Limited - India
- TeaM Sual Corporation - Philippines
- PetroVietnam Power Coal Import and Supply Company
- Timah Investasi Mineral - Indoneisa
- San Jose City I Power Corp, Philippines
- Kobexindo Tractors - Indoneisa
- Global Green Power PLC Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Standard Chartered Bank - UAE
- OPG Power Generation Pvt Ltd - India
- Renaissance Capital - South Africa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Wilmar Investment Holdings
- Vedanta Resources Plc - India
- LBH Netherlands Bv - Netherlands
- Thai Mozambique Logistica
- Vijayanagar Sugar Pvt Ltd - India
- Heidelberg Cement - Germany
- Indian Oil Corporation Limited
- Global Coal Blending Company Limited - Australia
- Cigading International Bulk Terminal - Indonesia
- Eastern Energy - Thailand
- Jorong Barutama Greston.PT - Indonesia
- Leighton Contractors Pty Ltd - Australia
- South Luzon Thermal Energy Corporation
- Larsen & Toubro Limited - India
- Miang Besar Coal Terminal - Indonesia
- European Bulk Services B.V. - Netherlands
- Kalimantan Lumbung Energi - Indonesia
- Georgia Ports Authority, United States
- Kohat Cement Company Ltd. - Pakistan
- Romanian Commodities Exchange
- Therma Luzon, Inc, Philippines
- Essar Steel Hazira Ltd - India
- Banpu Public Company Limited - Thailand
- Xindia Steels Limited - India
- Samtan Co., Ltd - South Korea
- Binh Thuan Hamico - Vietnam
- Pendopo Energi Batubara - Indonesia
- Sakthi Sugars Limited - India
- Bharathi Cement Corporation - India
- Carbofer General Trading SA - India
- Krishnapatnam Port Company Ltd. - India
- SMC Global Power, Philippines
- Semirara Mining and Power Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- Baramulti Group, Indonesia
- Bukit Baiduri Energy - Indonesia
- Goldman Sachs - Singapore
- Australian Coal Association
- Oldendorff Carriers - Singapore
- Straits Asia Resources Limited - Singapore
- Marubeni Corporation - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Salva Resources Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- Indonesian Coal Mining Association
- PowerSource Philippines DevCo
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Electricity Generating Authority of Thailand
- Maheswari Brothers Coal Limited - India
- Tata Chemicals Ltd - India
- McConnell Dowell - Australia
- Antam Resourcindo - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Mjunction Services Limited - India
- Indogreen Group - Indonesia
- Ind-Barath Power Infra Limited - India
- Aditya Birla Group - India
- Meenaskhi Energy Private Limited - India
- Meralco Power Generation, Philippines
- Vizag Seaport Private Limited - India
- Uttam Galva Steels Limited - India
- Videocon Industries ltd - India
- Bulk Trading Sa - Switzerland
- Kartika Selabumi Mining - Indonesia
- Anglo American - United Kingdom
- London Commodity Brokers - England
- Wood Mackenzie - Singapore
- Commonwealth Bank - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Independent Power Producers Association of India
- Minerals Council of Australia
- Karaikal Port Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Global Business Power Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Directorate Of Revenue Intelligence - India
- Manunggal Multi Energi - Indonesia
- Indo Tambangraya Megah - Indonesia
- SN Aboitiz Power Inc, Philippines
- Mintek Dendrill Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Power Finance Corporation Ltd., India
- Bhoruka Overseas - Indonesia
- Bhushan Steel Limited - India
- Sojitz Corporation - Japan
- Indian Energy Exchange, India
- SMG Consultants - Indonesia
- Ambuja Cements Ltd - India
- Cement Manufacturers Association - India
- Merrill Lynch Commodities Europe
- Gujarat Sidhee Cement - India
- New Zealand Coal & Carbon
- Africa Commodities Group - South Africa
- ASAPP Information Group - India
- CNBM International Corporation - China
- Makarim & Taira - Indonesia
- Semirara Mining Corp, Philippines
- CIMB Investment Bank - Malaysia
- Parry Sugars Refinery, India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Rio Tinto Coal - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Aboitiz Power Corporation - Philippines
- The State Trading Corporation of India Ltd
- Kaltim Prima Coal - Indonesia
- Alfred C Toepfer International GmbH - Germany
- PTC India Limited - India
- Latin American Coal - Colombia
- PNOC Exploration Corporation - Philippines
- Interocean Group of Companies - India
- Parliament of New Zealand
- Kapuas Tunggal Persada - Indonesia
- Medco Energi Mining Internasional
- Price Waterhouse Coopers - Russia
- The Treasury - Australian Government
- Orica Australia Pty. Ltd.
- GAC Shipping (India) Pvt Ltd
- Indika Energy - Indonesia
- IHS Mccloskey Coal Group - USA
- Neyveli Lignite Corporation Ltd, - India
- Chettinad Cement Corporation Ltd - India
- Grasim Industreis Ltd - India
- White Energy Company Limited
- Australian Commodity Traders Exchange
- VISA Power Limited - India
- Siam City Cement PLC, Thailand
- Bayan Resources Tbk. - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Kumho Petrochemical, South Korea
- Intertek Mineral Services - Indonesia
- GMR Energy Limited - India
- Sarangani Energy Corporation, Philippines
- Coalindo Energy - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Ministry of Mines - Canada
- Jindal Steel & Power Ltd - India
- GVK Power & Infra Limited - India
- Tamil Nadu electricity Board
- Jaiprakash Power Ventures ltd
- Metalloyd Limited - United Kingdom
- Maharashtra Electricity Regulatory Commission - India
- Ministry of Finance - Indonesia
- India Bulls Power Limited - India
- Posco Energy - South Korea
- Holcim Trading Pte Ltd - Singapore
- Petrochimia International Co. Ltd.- Taiwan
- Bukit Makmur.PT - Indonesia
- Bangladesh Power Developement Board
- Attock Cement Pakistan Limited
- Altura Mining Limited, Indonesia
- Economic Council, Georgia
- Barasentosa Lestari - Indonesia
- Agrawal Coal Company - India
- Electricity Authority, New Zealand
- Edison Trading Spa - Italy
- Energy Link Ltd, New Zealand
- Gujarat Electricity Regulatory Commission - India
- Siam City Cement - Thailand
- Mercuria Energy - Indonesia
- Planning Commission, India
- Coastal Gujarat Power Limited - India
- Lanco Infratech Ltd - India
- Star Paper Mills Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Madhucon Powers Ltd - India
- Port Waratah Coal Services - Australia
- MS Steel International - UAE
- Chamber of Mines of South Africa
- Directorate General of MIneral and Coal - Indonesia
- Sical Logistics Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Central Electricity Authority - India
- Dalmia Cement Bharat India
- Energy Development Corp, Philippines
- Sree Jayajothi Cements Limited - India
- Savvy Resources Ltd - HongKong
- Deloitte Consulting - India
- Eastern Coal Council - USA
- Iligan Light & Power Inc, Philippines
- Sinarmas Energy and Mining - Indonesia
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