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Friday, 13 April 12
MINERS OPPOSE GOVTS EXPORT TAX PLAN - THE JAKARTA POST
 The Jakarta Post reported that, Indonesian mining companies have strongly protested the government’s plan to impose a 25 percent export tax on mineral ores and coal, saying that the measure would severely hurt their businesses because they already pay high income tax rates.
The executive director of the Indonesian Mining Association (IMA), Syahrir Abubakar, said in Jakarta on Thursday that the government should be aware that under their contracts of work, miners paid a corporate income rate of between 35 and 45 percent, which was higher than the 25 percent imposed on other companies.
“Some of them pay between 35 percent and 45 percent even though the 2008 Income Tax Law regulates that the tax is only 25 percent,” he told reporters on the sidelines of the launch of the Mining & Engineering Indonesian Exhibition in Jakarta on Thursday.
If the government insists on applying the export tax, it should also declare that all companies pay tax according to prevailing laws, and not based on their contracts, he said. Currently, contracts of work in the country use the principle of “nail down” in which the taxes paid by miners follow the regulations in force when the contracts were signed, he explained.
“It’s no problem if the government wants to increase its revenue by applying new taxes, but it has to ensure that all the companies are on the same level playing field and are getting the same treatment. If not, this will kill the companies,” Syahrir said.
The government has the power to call all contract holders and inform them that it will apply the prevailing laws in tax payment and therefore the conditions in the contracts have to be renegotiated, he said.
“There’s nothing wrong with the government’s desire to boost tax revenue, but it has to do it in a way that doesn’t endanger the miners,” he said.
He said the government had never invited mining companies to discuss the plan.
Supriatna Suhala, the executive director of the Indonesian Coal Mining Association (APBI), agreed with Syahrir that equal treatment for all miners was necessary. However, he warned that implementing the plan would be difficult if not impossible.
“If the government insists, we have to revise the content of the 2009 Minerals and Coal Law. Our contracts with the government must also be renewed. What we need is equal treatment. Now, companies pay taxes and royalties in different amounts,” he said over the phone.
“In my opinion, this plan will do more harm than good.”
The discourse over the export tax first began following Industry Minister MS Hidayat’s statement that the policy was aimed at preventing companies overexploiting the county’s mineral resources and selling it in ore form without thinking about the future of the nation’s reserves.
The planned tax will supplement the government’s decision to ban mineral ore exports in 2014, which is mandated by the 2009 Minerals and Coal Law and a 2012 ministerial regulation.
When asked about the export duty, the Energy and Mineral Resources Ministry’s director general for minerals and coal, Thamrin Sihite, declined to comment.
Source: The Jakarta Post
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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 ...
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 ...
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- Iligan Light & Power Inc, Philippines
- International Coal Ventures Pvt Ltd - India
- Wilmar Investment Holdings
- Vijayanagar Sugar Pvt Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Ministry of Mines - Canada
- Kapuas Tunggal Persada - Indonesia
- Malabar Cements Ltd - India
- Tata Chemicals Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bhoruka Overseas - Indonesia
- Intertek Mineral Services - Indonesia
- Energy Development Corp, Philippines
- Eastern Coal Council - USA
- Commonwealth Bank - Australia
- Maharashtra Electricity Regulatory Commission - India
- Lanco Infratech Ltd - India
- Medco Energi Mining Internasional
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sakthi Sugars Limited - India
- Interocean Group of Companies - India
- Sarangani Energy Corporation, Philippines
- SMG Consultants - Indonesia
- Mintek Dendrill Indonesia
- Altura Mining Limited, Indonesia
- VISA Power Limited - India
- Sree Jayajothi Cements Limited - India
- Bukit Baiduri Energy - Indonesia
- Australian Coal Association
- Baramulti Group, Indonesia
- Ministry of Finance - Indonesia
- Bayan Resources Tbk. - Indonesia
- Barasentosa Lestari - Indonesia
- Marubeni Corporation - India
- Uttam Galva Steels Limited - India
- Kobexindo Tractors - Indoneisa
- Makarim & Taira - Indonesia
- Orica Australia Pty. Ltd.
- Coastal Gujarat Power Limited - India
- Wood Mackenzie - Singapore
- Ceylon Electricity Board - Sri Lanka
- Indonesian Coal Mining Association
- Gujarat Electricity Regulatory Commission - India
- Manunggal Multi Energi - Indonesia
- Sical Logistics Limited - India
- Thai Mozambique Logistica
- Karaikal Port Pvt Ltd - India
- Mercator Lines Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Siam City Cement - Thailand
- Ambuja Cements Ltd - India
- Riau Bara Harum - Indonesia
- Thiess Contractors Indonesia
- Gujarat Sidhee Cement - India
- IEA Clean Coal Centre - UK
- McConnell Dowell - Australia
- Salva Resources Pvt Ltd - India
- London Commodity Brokers - England
- Ind-Barath Power Infra Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Timah Investasi Mineral - Indoneisa
- Vizag Seaport Private Limited - India
- Electricity Generating Authority of Thailand
- Bukit Makmur.PT - Indonesia
- Bhatia International Limited - India
- Carbofer General Trading SA - India
- Central Electricity Authority - India
- SN Aboitiz Power Inc, Philippines
- TeaM Sual Corporation - Philippines
- CNBM International Corporation - China
- Binh Thuan Hamico - Vietnam
- PowerSource Philippines DevCo
- Electricity Authority, New Zealand
- Indogreen Group - Indonesia
- Bhushan Steel Limited - India
- PTC India Limited - India
- GVK Power & Infra Limited - India
- Trasteel International SA, Italy
- Global Green Power PLC Corporation, Philippines
- Simpson Spence & Young - Indonesia
- Rio Tinto Coal - Australia
- European Bulk Services B.V. - Netherlands
- Tamil Nadu electricity Board
- GN Power Mariveles Coal Plant, Philippines
- Larsen & Toubro Limited - India
- Holcim Trading Pte Ltd - Singapore
- Parliament of New Zealand
- Attock Cement Pakistan Limited
- San Jose City I Power Corp, Philippines
- Globalindo Alam Lestari - Indonesia
- Borneo Indobara - Indonesia
- Therma Luzon, Inc, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Sojitz Corporation - Japan
- Posco Energy - South Korea
- Videocon Industries ltd - India
- Semirara Mining and Power Corporation, Philippines
- Agrawal Coal Company - India
- Alfred C Toepfer International GmbH - Germany
- Dalmia Cement Bharat India
- Toyota Tsusho Corporation, Japan
- Planning Commission, India
- Parry Sugars Refinery, India
- Latin American Coal - Colombia
- Aboitiz Power Corporation - Philippines
- Anglo American - United Kingdom
- Madhucon Powers Ltd - India
- Central Java Power - Indonesia
- IHS Mccloskey Coal Group - USA
- Energy Link Ltd, New Zealand
- Meenaskhi Energy Private Limited - India
- Deloitte Consulting - India
- Savvy Resources Ltd - HongKong
- The University of Queensland
- Georgia Ports Authority, United States
- Singapore Mercantile Exchange
- CIMB Investment Bank - Malaysia
- Billiton Holdings Pty Ltd - Australia
- Kumho Petrochemical, South Korea
- Straits Asia Resources Limited - Singapore
- PNOC Exploration Corporation - Philippines
- GAC Shipping (India) Pvt Ltd
- Heidelberg Cement - Germany
- Bukit Asam (Persero) Tbk - Indonesia
- Metalloyd Limited - United Kingdom
- Star Paper Mills Limited - India
- Price Waterhouse Coopers - Russia
- Independent Power Producers Association of India
- GMR Energy Limited - India
- Sinarmas Energy and Mining - Indonesia
- Cement Manufacturers Association - India
- Indian Energy Exchange, India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Renaissance Capital - South Africa
- Chamber of Mines of South Africa
- Maheswari Brothers Coal Limited - India
- Africa Commodities Group - South Africa
- Chettinad Cement Corporation Ltd - India
- Jindal Steel & Power Ltd - India
- Orica Mining Services - Indonesia
- LBH Netherlands Bv - Netherlands
- Mjunction Services Limited - India
- Ministry of Transport, Egypt
- The State Trading Corporation of India Ltd
- Oldendorff Carriers - Singapore
- Siam City Cement PLC, Thailand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Economic Council, Georgia
- Indian Oil Corporation Limited
- ASAPP Information Group - India
- Cigading International Bulk Terminal - Indonesia
- Merrill Lynch Commodities Europe
- Directorate General of MIneral and Coal - Indonesia
- Indo Tambangraya Megah - Indonesia
- Coalindo Energy - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Essar Steel Hazira Ltd - India
- Australian Commodity Traders Exchange
- Meralco Power Generation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Grasim Industreis Ltd - India
- Samtan Co., Ltd - South Korea
- Bank of Tokyo Mitsubishi UFJ Ltd
- Asmin Koalindo Tuhup - Indonesia
- Directorate Of Revenue Intelligence - India
- Edison Trading Spa - Italy
- Xindia Steels Limited - India
- Standard Chartered Bank - UAE
- Goldman Sachs - Singapore
- SMC Global Power, Philippines
- MS Steel International - UAE
- Indika Energy - Indonesia
- Eastern Energy - Thailand
- Miang Besar Coal Terminal - Indonesia
- Coal and Oil Company - UAE
- Pendopo Energi Batubara - Indonesia
- Sindya Power Generating Company Private Ltd
- Jorong Barutama Greston.PT - Indonesia
- Bharathi Cement Corporation - India
- OPG Power Generation Pvt Ltd - India
- Port Waratah Coal Services - Australia
- Neyveli Lignite Corporation Ltd, - India
- Global Coal Blending Company Limited - Australia
- Petron Corporation, Philippines
- Mercuria Energy - Indonesia
- Banpu Public Company Limited - Thailand
- Kohat Cement Company Ltd. - Pakistan
- Aditya Birla Group - India
- Kepco SPC Power Corporation, Philippines
- Romanian Commodities Exchange
- Petrochimia International Co. Ltd.- Taiwan
- Semirara Mining Corp, Philippines
- Antam Resourcindo - Indonesia
- Power Finance Corporation Ltd., India
- The Treasury - Australian Government
- Karbindo Abesyapradhi - Indoneisa
- Formosa Plastics Group - Taiwan
- Bulk Trading Sa - Switzerland
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Jaiprakash Power Ventures ltd
- White Energy Company Limited
- Bangladesh Power Developement Board
- PetroVietnam Power Coal Import and Supply Company
- South Luzon Thermal Energy Corporation
- Kalimantan Lumbung Energi - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Kideco Jaya Agung - Indonesia
- ICICI Bank Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- New Zealand Coal & Carbon
- Vedanta Resources Plc - India
- Kartika Selabumi Mining - Indonesia
- Kaltim Prima Coal - Indonesia
- Minerals Council of Australia
- AsiaOL BioFuels Corp., Philippines
- India Bulls Power Limited - India
- Global Business Power Corporation, Philippines
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