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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 $3.18 billion.
Source: The Jakarta Post (By Rangga D. Fadillah)
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Tuesday, 22 November 11
NTPC TO BUY 2 MMT OF IMPORTED COAL FOR ITS FOUR PLANTS
COALspot.com - NTPC Limited, incorporated in 1975 as a public sector company wholly owned by Government of India, the largest thermal power generati ...
Tuesday, 22 November 11
ABM INVESTAMA SETS IPO AT RP 3,750
Insider Stories reported that, Integrated energy company PT ABM Investama Tbk has determined the IPO price at Rp3,750 (approximately US$ 0.415) per ...
Tuesday, 22 November 11
A SURPRISINGLY STRONG WEEK FOR THE CAPES - BRS
Positive gains for most of the segments this week, the exception being the Handysizes. Overall the BDI ended the week at 1,895 points (+3.3% week-on ...
Tuesday, 22 November 11
APPETITE FOR DRY BULK VESSELS SLOWS DOWN AT THE START OF THE WEEK - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market was down at the beginning of the week, as demand for Capesize vessels was particularly low. The industry’s benchmark, the ...
Monday, 21 November 11
CAPESIZES DRIVE MARKET LOWER, ANALYSTS DIVIDED ON DRY BULK OUTLOOK IN THE LONG RUN - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market ended the week on a sour note, with the industry’s benchmark heading downwards to 1,895 points, which represented a slight ...
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- Deloitte Consulting - India
- Malabar Cements Ltd - India
- Larsen & Toubro Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- The University of Queensland
- Timah Investasi Mineral - Indoneisa
- Meralco Power Generation, Philippines
- Coalindo Energy - Indonesia
- Ambuja Cements Ltd - India
- Karaikal Port Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- Ministry of Finance - Indonesia
- Grasim Industreis Ltd - India
- SMC Global Power, Philippines
- Siam City Cement PLC, Thailand
- Bahari Cakrawala Sebuku - Indonesia
- Renaissance Capital - South Africa
- Bhushan Steel Limited - India
- PNOC Exploration Corporation - Philippines
- CIMB Investment Bank - Malaysia
- Aboitiz Power Corporation - Philippines
- McConnell Dowell - Australia
- Indian Energy Exchange, India
- The Treasury - Australian Government
- Standard Chartered Bank - UAE
- PTC India Limited - India
- Edison Trading Spa - Italy
- Siam City Cement - Thailand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Manunggal Multi Energi - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Toyota Tsusho Corporation, Japan
- Jindal Steel & Power Ltd - India
- Heidelberg Cement - Germany
- Straits Asia Resources Limited - Singapore
- South Luzon Thermal Energy Corporation
- Gujarat Electricity Regulatory Commission - India
- Rashtriya Ispat Nigam Limited - India
- Parliament of New Zealand
- Madhucon Powers Ltd - India
- Meenaskhi Energy Private Limited - India
- Leighton Contractors Pty Ltd - Australia
- Australian Commodity Traders Exchange
- SN Aboitiz Power Inc, Philippines
- Eastern Coal Council - USA
- Trasteel International SA, Italy
- Bhoruka Overseas - Indonesia
- Coal and Oil Company - UAE
- Sindya Power Generating Company Private Ltd
- Merrill Lynch Commodities Europe
- GVK Power & Infra Limited - India
- Commonwealth Bank - Australia
- Economic Council, Georgia
- Kalimantan Lumbung Energi - Indonesia
- Port Waratah Coal Services - Australia
- Independent Power Producers Association of India
- Anglo American - United Kingdom
- Global Green Power PLC Corporation, Philippines
- Aditya Birla Group - India
- ICICI Bank Limited - India
- Baramulti Group, Indonesia
- Bayan Resources Tbk. - Indonesia
- Bukit Baiduri Energy - Indonesia
- Kepco SPC Power Corporation, Philippines
- Gujarat Sidhee Cement - India
- Star Paper Mills Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Oldendorff Carriers - Singapore
- Metalloyd Limited - United Kingdom
- Krishnapatnam Port Company Ltd. - India
- Vizag Seaport Private Limited - India
- Africa Commodities Group - South Africa
- MS Steel International - UAE
- Coastal Gujarat Power Limited - India
- Riau Bara Harum - Indonesia
- Bhatia International Limited - India
- Neyveli Lignite Corporation Ltd, - India
- White Energy Company Limited
- Simpson Spence & Young - Indonesia
- Marubeni Corporation - India
- Kobexindo Tractors - Indoneisa
- European Bulk Services B.V. - Netherlands
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- IEA Clean Coal Centre - UK
- Ceylon Electricity Board - Sri Lanka
- Ministry of Mines - Canada
- Tamil Nadu electricity Board
- Ministry of Transport, Egypt
- Asia Pacific Energy Resources Ventures Inc, Philippines
- IHS Mccloskey Coal Group - USA
- Central Java Power - Indonesia
- LBH Netherlands Bv - Netherlands
- AsiaOL BioFuels Corp., Philippines
- Sarangani Energy Corporation, Philippines
- Latin American Coal - Colombia
- Essar Steel Hazira Ltd - India
- Rio Tinto Coal - Australia
- Billiton Holdings Pty Ltd - Australia
- Uttam Galva Steels Limited - India
- Chettinad Cement Corporation Ltd - India
- Electricity Authority, New Zealand
- Posco Energy - South Korea
- Interocean Group of Companies - India
- Alfred C Toepfer International GmbH - Germany
- Energy Development Corp, Philippines
- Savvy Resources Ltd - HongKong
- International Coal Ventures Pvt Ltd - India
- Mercuria Energy - Indonesia
- Altura Mining Limited, Indonesia
- Tata Chemicals Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Barasentosa Lestari - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- Romanian Commodities Exchange
- Dalmia Cement Bharat India
- Sree Jayajothi Cements Limited - India
- Cement Manufacturers Association - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Formosa Plastics Group - Taiwan
- Bulk Trading Sa - Switzerland
- Eastern Energy - Thailand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Xindia Steels Limited - India
- Borneo Indobara - Indonesia
- Sakthi Sugars Limited - India
- SMG Consultants - Indonesia
- Ind-Barath Power Infra Limited - India
- Intertek Mineral Services - Indonesia
- GMR Energy Limited - India
- Directorate General of MIneral and Coal - Indonesia
- India Bulls Power Limited - India
- Electricity Generating Authority of Thailand
- San Jose City I Power Corp, Philippines
- Vedanta Resources Plc - India
- Mjunction Services Limited - India
- Miang Besar Coal Terminal - Indonesia
- Central Electricity Authority - India
- GN Power Mariveles Coal Plant, Philippines
- Attock Cement Pakistan Limited
- Holcim Trading Pte Ltd - Singapore
- Energy Link Ltd, New Zealand
- Minerals Council of Australia
- Global Business Power Corporation, Philippines
- VISA Power Limited - India
- Kumho Petrochemical, South Korea
- Asmin Koalindo Tuhup - Indonesia
- Mintek Dendrill Indonesia
- Directorate Of Revenue Intelligence - India
- Thiess Contractors Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Planning Commission, India
- Videocon Industries ltd - India
- Kaltim Prima Coal - Indonesia
- London Commodity Brokers - England
- Jaiprakash Power Ventures ltd
- CNBM International Corporation - China
- Karbindo Abesyapradhi - Indoneisa
- Bank of Tokyo Mitsubishi UFJ Ltd
- Banpu Public Company Limited - Thailand
- Sical Logistics Limited - India
- Mercator Lines Limited - India
- Indian Oil Corporation Limited
- Maheswari Brothers Coal Limited - India
- New Zealand Coal & Carbon
- Medco Energi Mining Internasional
- Sojitz Corporation - Japan
- Indonesian Coal Mining Association
- Chamber of Mines of South Africa
- Antam Resourcindo - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Indo Tambangraya Megah - Indonesia
- ASAPP Information Group - India
- Goldman Sachs - Singapore
- Agrawal Coal Company - India
- Maharashtra Electricity Regulatory Commission - India
- Kideco Jaya Agung - Indonesia
- Wood Mackenzie - Singapore
- Indika Energy - Indonesia
- Bharathi Cement Corporation - India
- Power Finance Corporation Ltd., India
- Kapuas Tunggal Persada - Indonesia
- TeaM Sual Corporation - Philippines
- Orica Mining Services - Indonesia
- The State Trading Corporation of India Ltd
- Makarim & Taira - Indonesia
- Carbofer General Trading SA - India
- Lanco Infratech Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Georgia Ports Authority, United States
- GAC Shipping (India) Pvt Ltd
- Bukit Makmur.PT - Indonesia
- Samtan Co., Ltd - South Korea
- Bangladesh Power Developement Board
- Globalindo Alam Lestari - Indonesia
- Pendopo Energi Batubara - Indonesia
- Indogreen Group - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Salva Resources Pvt Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Wilmar Investment Holdings
- Orica Australia Pty. Ltd.
- PowerSource Philippines DevCo
- Parry Sugars Refinery, India
- TNB Fuel Sdn Bhd - Malaysia
- Semirara Mining Corp, Philippines
- Binh Thuan Hamico - Vietnam
- Australian Coal Association
- Singapore Mercantile Exchange
- Iligan Light & Power Inc, Philippines
- Global Coal Blending Company Limited - Australia
- Petron Corporation, Philippines
- Price Waterhouse Coopers - Russia
- OPG Power Generation Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Thai Mozambique Logistica
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