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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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Wednesday, 04 November 09
BINANI HOPES TO BUY INDONESIAN COAL MINE IN 2-3 MONTHS
"We are still negotiating, but hope to conclude the deal in the next two to three months," Binani Cement Managing Director Vinod Juneja to ...
Tuesday, 03 November 09
CHINA TO BE NET COAL IMPORTER IN 2009
China is accelerating its importation of coal to cope with fallen output caused by the consolidation of small coalmines, and is likely to become a n ...
Monday, 02 November 09
RIO TINTO WARNS ON CHEAP MONGOLIAN COAL
The Age reported that, Mining giant Rio Tinto has warned that cheap coal from Mongolia as well as congestion at the Port of Newcastle in NSW could u ...
Monday, 02 November 09
ESSAR SEEKS COAL ASSETS IN SOUTH AFRICA
Paguntaka reported that, Essar Group plans to acquire coal assets in South Africa to help boost its power business in India. A senior executive of E ...
Sunday, 01 November 09
MINES REGULATION AMENDMENT BILL TO BE TABLED IN PARLIAMENT
Thaindia News reported that, A bill seeking to amend the Mines and Minerals Development Regulation Act, 1957, will be introduced in the winter sessi ...
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- Jaiprakash Power Ventures ltd
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- Bhoruka Overseas - Indonesia
- PNOC Exploration Corporation - Philippines
- Interocean Group of Companies - India
- Madhucon Powers Ltd - India
- Electricity Authority, New Zealand
- McConnell Dowell - Australia
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- Petron Corporation, Philippines
- CNBM International Corporation - China
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- IEA Clean Coal Centre - UK
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- Wood Mackenzie - Singapore
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- Australian Commodity Traders Exchange
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- MS Steel International - UAE
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- Savvy Resources Ltd - HongKong
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- LBH Netherlands Bv - Netherlands
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- The University of Queensland
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- Singapore Mercantile Exchange
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- Georgia Ports Authority, United States
- Marubeni Corporation - India
- Jindal Steel & Power Ltd - India
- White Energy Company Limited
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- Ministry of Finance - Indonesia
- Coalindo Energy - Indonesia
- Goldman Sachs - Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Rio Tinto Coal - Australia
- Trasteel International SA, Italy
- Africa Commodities Group - South Africa
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- Port Waratah Coal Services - Australia
- Bharathi Cement Corporation - India
- Vijayanagar Sugar Pvt Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Global Business Power Corporation, Philippines
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- Deloitte Consulting - India
- CIMB Investment Bank - Malaysia
- Mercuria Energy - Indonesia
- Riau Bara Harum - Indonesia
- Lanco Infratech Ltd - India
- Antam Resourcindo - Indonesia
- Straits Asia Resources Limited - Singapore
- Coastal Gujarat Power Limited - India
- Thiess Contractors Indonesia
- Orica Mining Services - Indonesia
- Wilmar Investment Holdings
- Bhushan Steel Limited - India
- Formosa Plastics Group - Taiwan
- Globalindo Alam Lestari - Indonesia
- London Commodity Brokers - England
- Dalmia Cement Bharat India
- TNB Fuel Sdn Bhd - Malaysia
- Manunggal Multi Energi - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Eastern Coal Council - USA
- Bukit Baiduri Energy - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Malabar Cements Ltd - India
- Meralco Power Generation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- South Luzon Thermal Energy Corporation
- Sojitz Corporation - Japan
- Chamber of Mines of South Africa
- Makarim & Taira - Indonesia
- Timah Investasi Mineral - Indoneisa
- Bukit Asam (Persero) Tbk - Indonesia
- Ind-Barath Power Infra Limited - India
- Bukit Makmur.PT - Indonesia
- European Bulk Services B.V. - Netherlands
- Posco Energy - South Korea
- Offshore Bulk Terminal Pte Ltd, Singapore
- San Jose City I Power Corp, Philippines
- Indogreen Group - Indonesia
- Central Electricity Authority - India
- Kohat Cement Company Ltd. - Pakistan
- Holcim Trading Pte Ltd - Singapore
- Indo Tambangraya Megah - Indonesia
- Commonwealth Bank - Australia
- Kapuas Tunggal Persada - Indonesia
- New Zealand Coal & Carbon
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- Ministry of Mines - Canada
- Neyveli Lignite Corporation Ltd, - India
- Attock Cement Pakistan Limited
- India Bulls Power Limited - India
- Mintek Dendrill Indonesia
- Siam City Cement - Thailand
- The Treasury - Australian Government
- Asmin Koalindo Tuhup - Indonesia
- Grasim Industreis Ltd - India
- Standard Chartered Bank - UAE
- Australian Coal Association
- Ministry of Transport, Egypt
- SMC Global Power, Philippines
- Star Paper Mills Limited - India
- Meenaskhi Energy Private Limited - India
- Alfred C Toepfer International GmbH - Germany
- Leighton Contractors Pty Ltd - Australia
- Cement Manufacturers Association - India
- Tamil Nadu electricity Board
- Kepco SPC Power Corporation, Philippines
- Heidelberg Cement - Germany
- GMR Energy Limited - India
- Power Finance Corporation Ltd., India
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- Xindia Steels Limited - India
- ASAPP Information Group - India
- Thai Mozambique Logistica
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- Therma Luzon, Inc, Philippines
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- Economic Council, Georgia
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- Toyota Tsusho Corporation, Japan
- Asia Pacific Energy Resources Ventures Inc, Philippines
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- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kumho Petrochemical, South Korea
- Billiton Holdings Pty Ltd - Australia
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- Agrawal Coal Company - India
- Indian Oil Corporation Limited
- SN Aboitiz Power Inc, Philippines
- Price Waterhouse Coopers - Russia
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- Coal and Oil Company - UAE
- Videocon Industries ltd - India
- Altura Mining Limited, Indonesia
- Miang Besar Coal Terminal - Indonesia
- Siam City Cement PLC, Thailand
- Sinarmas Energy and Mining - Indonesia
- Directorate Of Revenue Intelligence - India
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- Renaissance Capital - South Africa
- Independent Power Producers Association of India
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- Banpu Public Company Limited - Thailand
- Energy Link Ltd, New Zealand
- Kobexindo Tractors - Indoneisa
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