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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$143.5mil, which saw the company make a gain of RM161.9mil.
Source: The Star online (By JAGDEV SINGH SIDHU )
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Thursday, 12 November 09
FOREIGN INVESTMENT IN RUSSIAN COAL SECTOR
Reuters reported that, Russia's coal mines, particularly in the Arctic and Far East, are attracting interest from foreign investors as commodity pr ...
Thursday, 12 November 09
BANPU TO INVEST US$ 466 M
Plan targets 33.5m tonnes of coal per year
Bangkok Post reported that, Banpu Plc, Asean's largest coal miner, is planning capital investments of ...
Wednesday, 11 November 09
NORTHSTAR TAKES 40 PER CENT OF INDONESIAN MINING COMPANY
AltAssets reported that, PT Northstar Pacific Partners, the Indonesian affiliate of US private equity firm TPG, has taken a 40 per cent stake in Ind ...
Wednesday, 11 November 09
INDONESIAN COAL MINERS SOLD BIG VOLUMES OF 2010 TO CHINA
* China has scooped up large volumes of Indonesian coal
* Total exports to China in 2010 seen to exceed 20 million T
* Chinese, Indian demand may ...
Wednesday, 11 November 09
INDIAN COAL IMPORT FROM SA IN OCTOBER
Reuters reported that India imported 2.4 million tonnes of coal from South Africa's Richards Bay Coal Terminal in October 2009, 35% of the total of ...
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- Coal and Oil Company - UAE
- Gujarat Mineral Development Corp Ltd - India
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- Singapore Mercantile Exchange
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- Intertek Mineral Services - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Maharashtra Electricity Regulatory Commission - India
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- The State Trading Corporation of India Ltd
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- Indian Energy Exchange, India
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- Salva Resources Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
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- Minerals Council of Australia
- Neyveli Lignite Corporation Ltd, - India
- MS Steel International - UAE
- Renaissance Capital - South Africa
- GN Power Mariveles Coal Plant, Philippines
- Ceylon Electricity Board - Sri Lanka
- Madhucon Powers Ltd - India
- Simpson Spence & Young - Indonesia
- Eastern Energy - Thailand
- Chettinad Cement Corporation Ltd - India
- Kideco Jaya Agung - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Central Electricity Authority - India
- Mjunction Services Limited - India
- Interocean Group of Companies - India
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- Petron Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
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- Banpu Public Company Limited - Thailand
- Kumho Petrochemical, South Korea
- Star Paper Mills Limited - India
- The Treasury - Australian Government
- Ambuja Cements Ltd - India
- Parliament of New Zealand
- ICICI Bank Limited - India
- Energy Link Ltd, New Zealand
- Orica Australia Pty. Ltd.
- Bhushan Steel Limited - India
- London Commodity Brokers - England
- Billiton Holdings Pty Ltd - Australia
- Indika Energy - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Medco Energi Mining Internasional
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- OPG Power Generation Pvt Ltd - India
- Heidelberg Cement - Germany
- Wood Mackenzie - Singapore
- Economic Council, Georgia
- The University of Queensland
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- Larsen & Toubro Limited - India
- Chamber of Mines of South Africa
- Agrawal Coal Company - India
- LBH Netherlands Bv - Netherlands
- Global Coal Blending Company Limited - Australia
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- India Bulls Power Limited - India
- New Zealand Coal & Carbon
- SMC Global Power, Philippines
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- Global Business Power Corporation, Philippines
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- Videocon Industries ltd - India
- Deloitte Consulting - India
- Jorong Barutama Greston.PT - Indonesia
- IHS Mccloskey Coal Group - USA
- Bhatia International Limited - India
- Bulk Trading Sa - Switzerland
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- Commonwealth Bank - Australia
- Edison Trading Spa - Italy
- Independent Power Producers Association of India
- Pipit Mutiara Jaya. PT, Indonesia
- Wilmar Investment Holdings
- Siam City Cement PLC, Thailand
- Ind-Barath Power Infra Limited - India
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- Aditya Birla Group - India
- Ministry of Transport, Egypt
- Savvy Resources Ltd - HongKong
- Kepco SPC Power Corporation, Philippines
- Oldendorff Carriers - Singapore
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- Port Waratah Coal Services - Australia
- Carbofer General Trading SA - India
- Latin American Coal - Colombia
- Gujarat Electricity Regulatory Commission - India
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- Lanco Infratech Ltd - India
- Electricity Authority, New Zealand
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- Power Finance Corporation Ltd., India
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- Sindya Power Generating Company Private Ltd
- Kapuas Tunggal Persada - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
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- Meralco Power Generation, Philippines
- Bangladesh Power Developement Board
- Samtan Co., Ltd - South Korea
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- Vedanta Resources Plc - India
- McConnell Dowell - Australia
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- Asmin Koalindo Tuhup - Indonesia
- Uttam Galva Steels Limited - India
- Eastern Coal Council - USA
- Mintek Dendrill Indonesia
- European Bulk Services B.V. - Netherlands
- Essar Steel Hazira Ltd - India
- Goldman Sachs - Singapore
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- Standard Chartered Bank - UAE
- Energy Development Corp, Philippines
- Kaltim Prima Coal - Indonesia
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