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Tuesday, 29 June 10
EXPORT LETTER OF CREDIT PLAN DUMPED - THE JAKARTA GLOBE
The Jakartaglobe reported that, Indonesia has canceled a proposed regulation that would have required exporters of commodities such as cocoa, coffee, rubber, palm oil and mining products to use a letter of credit from local banks for export transactions worth more than $1 million.
The government issued the regulation in April 2009 and it was set to take effect on July 1. It was intended to support the rupiah by ensuring revenue from commodity exports was kept onshore.
The Ministry of Trade originally delayed the introduction of the regulation from Sept. 1 to Nov. 1. Implementation was subsequently postponed again, to July 1.
“Based on evaluations, the regulation is no longer needed. Thus it is canceled and will not be applied,” the ministry said in a decree signed by Trade Minister Mari Elka Pangestu last Thursday.
The current export reporting system will continue. Under the system, exporters have to submit regular reports of payments received from their overseas buyers to the Trade Ministry.
Sandiaga Uno, managing director of private equity firm Saratoga Capital and a former head of the Indonesian Young Entrepreneurs Association (Hipmi), welcomed the decision.
“I welcome the move because my colleagues, especially in small and mid-sized businesses, have been complaining about the added cost it would bring,” Sandiaga said. Exporters had claimed that obtaining a letter of credit would cost them 0.8 percent of the total transaction.
“We’ve been hoping for a while that it would be canceled,” Sandiaga said.
Jeffrey Mulyono, president director of coal miner PT Bhakti Energi Persada, said the requirement would have undermined normal trade practices and increased costs.
“Why do we need it since there are already standing agreements between importers and exporters?” he said. “It would have only led to an added burden for both exporters and their buyers.”
Source: The Jakarta Globe
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Friday, 02 July 10
PROPOSED MINERAL RESOURCE RENT TAX - PRESS RELEASE (2)
Press Release: BHP Billiton, Rio Tinto and Xstrata said today that they are encouraged by the Federal Government’s announcement that it propos ...
Friday, 02 July 10
MINERALS RESOURCE TAXATION IN AUSTRALIA - PRESS RELEASE
Press Release : Rio Tinto acknowledges the Australian Government’s announcement that the Resource Super Profits Tax (RSPT) proposal will be re ...
Thursday, 01 July 10
TATA POWER TO RAISE US$300 MILLION THROUGH ITS COAL SPVS TO FUND ADDITIONAL ACQUISITIONS AND / OR REDUCE OUTSTANDING DEBT
Stock Markets Review reported that, Tata Power, India’s largest private power player has signed an agreement to raise US$300 million in Bhira ...
Thursday, 01 July 10
HELLENIC SHIPPING NEWS POLL: THE BDI WILL STAY ABOVE 3,000 POINTS IN THE SECOND HALF OF 2010
When Hellenic Shipping News Worldwide prepared June’s poll asking readers about where do they think that the Baltic Dry Index (BDI) will range ...
Thursday, 01 July 10
PANAMAX MARKETS CONTINUE TO DROP IN ALL BASINS - FEARNLEYS
Handy
Atlantic rates continue to slide with little activity. Supras open in USG get low 30´s to Med and mid 40´s to FEast. Hmax/Supra ...
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- Holcim Trading Pte Ltd - Singapore
- Sinarmas Energy and Mining - Indonesia
- Ambuja Cements Ltd - India
- Timah Investasi Mineral - Indoneisa
- GN Power Mariveles Coal Plant, Philippines
- Latin American Coal - Colombia
- Kideco Jaya Agung - Indonesia
- Aboitiz Power Corporation - Philippines
- Ind-Barath Power Infra Limited - India
- Billiton Holdings Pty Ltd - Australia
- Indogreen Group - Indonesia
- Commonwealth Bank - Australia
- Meenaskhi Energy Private Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Miang Besar Coal Terminal - Indonesia
- South Luzon Thermal Energy Corporation
- Iligan Light & Power Inc, Philippines
- Rio Tinto Coal - Australia
- Parliament of New Zealand
- GVK Power & Infra Limited - India
- Mercator Lines Limited - India
- Economic Council, Georgia
- Thiess Contractors Indonesia
- Bulk Trading Sa - Switzerland
- Anglo American - United Kingdom
- PNOC Exploration Corporation - Philippines
- Eastern Energy - Thailand
- Vizag Seaport Private Limited - India
- Therma Luzon, Inc, Philippines
- Port Waratah Coal Services - Australia
- Chamber of Mines of South Africa
- Coastal Gujarat Power Limited - India
- Xindia Steels Limited - India
- Romanian Commodities Exchange
- Baramulti Group, Indonesia
- India Bulls Power Limited - India
- IEA Clean Coal Centre - UK
- Energy Development Corp, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- GMR Energy Limited - India
- Tamil Nadu electricity Board
- Central Electricity Authority - India
- Siam City Cement PLC, Thailand
- Jindal Steel & Power Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Standard Chartered Bank - UAE
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- PTC India Limited - India
- PowerSource Philippines DevCo
- Ceylon Electricity Board - Sri Lanka
- Bharathi Cement Corporation - India
- SMC Global Power, Philippines
- SN Aboitiz Power Inc, Philippines
- Bukit Baiduri Energy - Indonesia
- Price Waterhouse Coopers - Russia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Riau Bara Harum - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Gujarat Mineral Development Corp Ltd - India
- Metalloyd Limited - United Kingdom
- Bukit Makmur.PT - Indonesia
- Merrill Lynch Commodities Europe
- CNBM International Corporation - China
- Directorate General of MIneral and Coal - Indonesia
- McConnell Dowell - Australia
- MS Steel International - UAE
- Banpu Public Company Limited - Thailand
- White Energy Company Limited
- VISA Power Limited - India
- Aditya Birla Group - India
- Minerals Council of Australia
- Energy Link Ltd, New Zealand
- Bayan Resources Tbk. - Indonesia
- Mjunction Services Limited - India
- Dalmia Cement Bharat India
- Lanco Infratech Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Alfred C Toepfer International GmbH - Germany
- Wood Mackenzie - Singapore
- Ministry of Mines - Canada
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- OPG Power Generation Pvt Ltd - India
- London Commodity Brokers - England
- Savvy Resources Ltd - HongKong
- GAC Shipping (India) Pvt Ltd
- Carbofer General Trading SA - India
- Indonesian Coal Mining Association
- ICICI Bank Limited - India
- Ministry of Finance - Indonesia
- Medco Energi Mining Internasional
- Orica Mining Services - Indonesia
- Indian Energy Exchange, India
- Samtan Co., Ltd - South Korea
- Petron Corporation, Philippines
- Essar Steel Hazira Ltd - India
- Kaltim Prima Coal - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Borneo Indobara - Indonesia
- Barasentosa Lestari - Indonesia
- Independent Power Producers Association of India
- Chettinad Cement Corporation Ltd - India
- Trasteel International SA, Italy
- Kobexindo Tractors - Indoneisa
- PetroVietnam Power Coal Import and Supply Company
- Karbindo Abesyapradhi - Indoneisa
- Australian Commodity Traders Exchange
- European Bulk Services B.V. - Netherlands
- Binh Thuan Hamico - Vietnam
- Sarangani Energy Corporation, Philippines
- Deloitte Consulting - India
- Grasim Industreis Ltd - India
- Indo Tambangraya Megah - Indonesia
- Africa Commodities Group - South Africa
- Kumho Petrochemical, South Korea
- Edison Trading Spa - Italy
- Pipit Mutiara Jaya. PT, Indonesia
- Larsen & Toubro Limited - India
- Singapore Mercantile Exchange
- Formosa Plastics Group - Taiwan
- Coal and Oil Company - UAE
- International Coal Ventures Pvt Ltd - India
- Intertek Mineral Services - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Madhucon Powers Ltd - India
- Global Business Power Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- SMG Consultants - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Tata Chemicals Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Uttam Galva Steels Limited - India
- Indika Energy - Indonesia
- Mintek Dendrill Indonesia
- Electricity Authority, New Zealand
- Globalindo Alam Lestari - Indonesia
- Siam City Cement - Thailand
- Cigading International Bulk Terminal - Indonesia
- Bhushan Steel Limited - India
- Altura Mining Limited, Indonesia
- Toyota Tsusho Corporation, Japan
- Karaikal Port Pvt Ltd - India
- Ministry of Transport, Egypt
- New Zealand Coal & Carbon
- Cement Manufacturers Association - India
- Marubeni Corporation - India
- Meralco Power Generation, Philippines
- Australian Coal Association
- San Jose City I Power Corp, Philippines
- Star Paper Mills Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Sakthi Sugars Limited - India
- The Treasury - Australian Government
- Indian Oil Corporation Limited
- LBH Netherlands Bv - Netherlands
- Malabar Cements Ltd - India
- Agrawal Coal Company - India
- Global Green Power PLC Corporation, Philippines
- Coalindo Energy - Indonesia
- Thai Mozambique Logistica
- Sical Logistics Limited - India
- Salva Resources Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- Global Coal Blending Company Limited - Australia
- Kepco SPC Power Corporation, Philippines
- Sree Jayajothi Cements Limited - India
- Vedanta Resources Plc - India
- Asmin Koalindo Tuhup - Indonesia
- Simpson Spence & Young - Indonesia
- Oldendorff Carriers - Singapore
- TNB Fuel Sdn Bhd - Malaysia
- Heidelberg Cement - Germany
- Bahari Cakrawala Sebuku - Indonesia
- The State Trading Corporation of India Ltd
- Rashtriya Ispat Nigam Limited - India
- Planning Commission, India
- Maheswari Brothers Coal Limited - India
- Sojitz Corporation - Japan
- Antam Resourcindo - Indonesia
- Semirara Mining Corp, Philippines
- Goldman Sachs - Singapore
- Makarim & Taira - Indonesia
- Manunggal Multi Energi - Indonesia
- Renaissance Capital - South Africa
- Orica Australia Pty. Ltd.
- Central Java Power - Indonesia
- The University of Queensland
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Electricity Generating Authority of Thailand
- CIMB Investment Bank - Malaysia
- Georgia Ports Authority, United States
- Bhoruka Overseas - Indonesia
- Posco Energy - South Korea
- Mercuria Energy - Indonesia
- Pendopo Energi Batubara - Indonesia
- Power Finance Corporation Ltd., India
- Bangladesh Power Developement Board
- Maharashtra Electricity Regulatory Commission - India
- Leighton Contractors Pty Ltd - Australia
- ASAPP Information Group - India
- Straits Asia Resources Limited - Singapore
- Directorate Of Revenue Intelligence - India
- Videocon Industries ltd - India
- Interocean Group of Companies - India
- Gujarat Sidhee Cement - India
- Petrochimia International Co. Ltd.- Taiwan
- Bhatia International Limited - India
- Sindya Power Generating Company Private Ltd
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Jorong Barutama Greston.PT - Indonesia
- IHS Mccloskey Coal Group - USA
- Eastern Coal Council - USA
- Attock Cement Pakistan Limited
- Parry Sugars Refinery, India
- Wilmar Investment Holdings
- TeaM Sual Corporation - Philippines
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