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Saturday, 10 July 10
SCOMI TO SELL STAKE IN INDONESIA OPS - THE STAR
 The star online reported that, Scomi Marine Bhd will sell a stake in its marine logistics business in Indonesia to a large Indonesian company to deal with the future of its business there.
A source said the sale was a result of cabotage laws in Indonesia and the current trend where large coal mines were moving to take control of the logistics of shipping coal.
The buyer, said to be involved in the coal business, would become a strategic partner for Scomi Marine’s business in Indonesia.
“A big boy in the business is coming in,” said the source.
The marine logistics business of Scomi Marine primarily involves the transportation and provision of logistics support for major coal producers in Indonesia.
According to its annual report, the company carried almost 28 million tonnes of coal in 2009, 3% lower than in 2008 due to the slowdown in coal demand.
Scomi Marine yesterday halted trading in its stock on Bursa Malaysia until the close of trading on Tuesday.
The company said in a filing the suspension of trading was to facilitate a material corporate exercise involving a substantial transaction which would entail the disposal of certain subsidiaries of the company.
No further details were given. The stock closed up 2.5 sen yesterday at 43 sen after surging nearly 18% this week.
Scomi Marine has an 80.54% stake in PT Rig Tenders Indonesia Tbk, a company listed on the Jakarta Stock Exchange.
According to its website, Rig Tenders is involved in the chartering of tugs and barges to transport coal and other bulk aggregates as well as chartering of supply vessels, work-over and accommodation barges to support the offshore oil and gas industry.
Rig Tenders currently owns and operates a fleet of 53 vessels consisting of 10 supply vessels, 25 tug boats, two accommodation/work-over barges, nine flat-top barges and seven self-discharging barges. It has 491 personnel, including 437 contractual workers.
For its first quarter ended March 31, Scomi Marine’s net profit nearly doubled to RM21.9mil from RM11.1mil in the previous corresponding period.
Revenue was marginally lower at RM102.8mil compared with RM110.4mil previously.
In April, Scomi Marine completed the sale of a 29.07% stake in Singapore-listed CH Offshore Ltd for S$143.5mil, which saw the company make a gain of RM161.9mil.
Source: The Star online (By JAGDEV SINGH SIDHU )
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Tuesday, 16 February 10
KPMG PENS 6-POINT STRATEGY FOR COAL INDIA RESTRUCTURING
Coal India Ltd (CIL) has appointed KPMG Advisory Services Pvt Ltd to advise on consolidating its position as the country’s prime energy provid ...
Monday, 15 February 10
MINING LAW TO BE REVISED
Law No. 4 of 2009 on mineral and coal mining will be revised after a working visit of the Bangka Belitung (Babel) Provincial legislative assembly (D ...
Monday, 15 February 10
EURO COAL PRICES SOFTEN AS CHINESE LUNAR NEW YEAR HOLIDAYS START
Prices of prompt cargoes of coal for delivery into Europe weakened last week on a lack of European demand and market nerves over the possible impact ...
Monday, 15 February 10
INDONESIAN COAL SUFFERS SETBACK AS SUMATRA RAIL LINE HELD UP AGAIN
State-owned coal miner PT Tambang Batubara Bukit Asam’s $1.06 billion rail project in Sumatra faces more delays, and the cost of the project i ...
Monday, 15 February 10
MEC INFRA TO COMMISSION INDONESIA RAIL PROJECT
A joint venture between Ras Al Khaimah Investment Authority (Rakia) RAK Investment Authority and Minerals Energy and Commodities Holdings, a f ...
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- Energy Development Corp, Philippines
- Formosa Plastics Group - Taiwan
- Ministry of Mines - Canada
- SMG Consultants - Indonesia
- Ministry of Finance - Indonesia
- Kumho Petrochemical, South Korea
- Ceylon Electricity Board - Sri Lanka
- Coalindo Energy - Indonesia
- Alfred C Toepfer International GmbH - Germany
- IEA Clean Coal Centre - UK
- Asmin Koalindo Tuhup - Indonesia
- Agrawal Coal Company - India
- Trasteel International SA, Italy
- Pendopo Energi Batubara - Indonesia
- IHS Mccloskey Coal Group - USA
- TeaM Sual Corporation - Philippines
- Salva Resources Pvt Ltd - India
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- VISA Power Limited - India
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- Heidelberg Cement - Germany
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- Neyveli Lignite Corporation Ltd, - India
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- Indian Oil Corporation Limited
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- Bhushan Steel Limited - India
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- Bayan Resources Tbk. - Indonesia
- Independent Power Producers Association of India
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- Latin American Coal - Colombia
- Mintek Dendrill Indonesia
- Standard Chartered Bank - UAE
- White Energy Company Limited
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- Lanco Infratech Ltd - India
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- GVK Power & Infra Limited - India
- Billiton Holdings Pty Ltd - Australia
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- Offshore Bulk Terminal Pte Ltd, Singapore
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- Maharashtra Electricity Regulatory Commission - India
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- Dr Ramakrishna Prasad Power Pvt Ltd - India
- India Bulls Power Limited - India
- Merrill Lynch Commodities Europe
- LBH Netherlands Bv - Netherlands
- Edison Trading Spa - Italy
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sinarmas Energy and Mining - Indonesia
- Binh Thuan Hamico - Vietnam
- Karaikal Port Pvt Ltd - India
- Commonwealth Bank - Australia
- Directorate Of Revenue Intelligence - India
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- PetroVietnam Power Coal Import and Supply Company
- Cigading International Bulk Terminal - Indonesia
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- Romanian Commodities Exchange
- Kohat Cement Company Ltd. - Pakistan
- Renaissance Capital - South Africa
- Dalmia Cement Bharat India
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- Power Finance Corporation Ltd., India
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- AsiaOL BioFuels Corp., Philippines
- Indogreen Group - Indonesia
- CNBM International Corporation - China
- Xindia Steels Limited - India
- Timah Investasi Mineral - Indoneisa
- Orica Mining Services - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Coal and Oil Company - UAE
- Medco Energi Mining Internasional
- Bhatia International Limited - India
- Central Electricity Authority - India
- Bhoruka Overseas - Indonesia
- Savvy Resources Ltd - HongKong
- Altura Mining Limited, Indonesia
- Maheswari Brothers Coal Limited - India
- Orica Australia Pty. Ltd.
- South Luzon Thermal Energy Corporation
- Global Green Power PLC Corporation, Philippines
- Minerals Council of Australia
- SMC Global Power, Philippines
- GMR Energy Limited - India
- PowerSource Philippines DevCo
- Therma Luzon, Inc, Philippines
- Carbofer General Trading SA - India
- Bahari Cakrawala Sebuku - Indonesia
- MS Steel International - UAE
- Indo Tambangraya Megah - Indonesia
- Electricity Authority, New Zealand
- Jorong Barutama Greston.PT - Indonesia
- Semirara Mining and Power Corporation, Philippines
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- Kapuas Tunggal Persada - Indonesia
- The University of Queensland
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- European Bulk Services B.V. - Netherlands
- Sree Jayajothi Cements Limited - India
- Price Waterhouse Coopers - Russia
- Cement Manufacturers Association - India
- Global Coal Blending Company Limited - Australia
- Straits Asia Resources Limited - Singapore
- Thai Mozambique Logistica
- Siam City Cement PLC, Thailand
- Planning Commission, India
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- Mjunction Services Limited - India
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- Petron Corporation, Philippines
- Intertek Mineral Services - Indonesia
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- Bulk Trading Sa - Switzerland
- Antam Resourcindo - Indonesia
- Wood Mackenzie - Singapore
- Ministry of Transport, Egypt
- Gujarat Sidhee Cement - India
- Indonesian Coal Mining Association
- Rashtriya Ispat Nigam Limited - India
- Goldman Sachs - Singapore
- Singapore Mercantile Exchange
- The State Trading Corporation of India Ltd
- Meralco Power Generation, Philippines
- Energy Link Ltd, New Zealand
- OPG Power Generation Pvt Ltd - India
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- Indika Energy - Indonesia
- Economic Council, Georgia
- Deloitte Consulting - India
- Simpson Spence & Young - Indonesia
- Riau Bara Harum - Indonesia
- Malabar Cements Ltd - India
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- San Jose City I Power Corp, Philippines
- Samtan Co., Ltd - South Korea
- Africa Commodities Group - South Africa
- Star Paper Mills Limited - India
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