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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, 22 October 09
2ND UNITED INDONESIA CABINET UNVEILED
The Jakarta Post reported that, President Susilo Bambang Yudhoyono announced his second United Indonesia Cabinet on Wednesday night, comprising 34 m ...
Thursday, 22 October 09
PEABODY SET TO TAP ASIAN DEMAND FOR COAL
The Australian reported that, US coal giant Peabody Energy plans to double its Queensland and NSW coal exports in the next five years, as it looks t ...
Wednesday, 21 October 09
INDONESIA POWER FIRM SEEKS TO DEFER COAL SUPPLIES
Reuters reported that, Indonesia's state power firm is negotiating with two coal producers, including a unit of PT Bumi Resources Tbk, to defer a c ...
Wednesday, 21 October 09
MINING REGULATION GENERATES CONFUSION IN INDONESIA
The Jakarta Globe reported that, Mining industry representatives said on Friday they were confused by a recently issued regulation restricting the w ...
Wednesday, 21 October 09
LAW ACCOMMODATES NATIONAL AND INVESTOR INTERESTS
COALspot.com (Indonesia): According to ESDM, the government has issued five Lawson the energy and mineral resources sector. These laws will prioriti ...
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- Kumho Petrochemical, South Korea
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- The State Trading Corporation of India Ltd
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- Offshore Bulk Terminal Pte Ltd, Singapore
- Intertek Mineral Services - Indonesia
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- Dr Ramakrishna Prasad Power Pvt Ltd - India
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- Savvy Resources Ltd - HongKong
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- Merrill Lynch Commodities Europe
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- Directorate Of Revenue Intelligence - India
- Borneo Indobara - Indonesia
- Antam Resourcindo - Indonesia
- GVK Power & Infra Limited - India
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- Global Coal Blending Company Limited - Australia
- Petron Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Economic Council, Georgia
- OPG Power Generation Pvt Ltd - India
- Meralco Power Generation, Philippines
- Kaltim Prima Coal - Indonesia
- Sojitz Corporation - Japan
- Wood Mackenzie - Singapore
- Sical Logistics Limited - India
- Krishnapatnam Port Company Ltd. - India
- Petrochimia International Co. Ltd.- Taiwan
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- Carbofer General Trading SA - India
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- Chamber of Mines of South Africa
- SMG Consultants - Indonesia
- Parliament of New Zealand
- MS Steel International - UAE
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- Maharashtra Electricity Regulatory Commission - India
- Georgia Ports Authority, United States
- Metalloyd Limited - United Kingdom
- Jaiprakash Power Ventures ltd
- Straits Asia Resources Limited - Singapore
- Eastern Energy - Thailand
- Bangladesh Power Developement Board
- Leighton Contractors Pty Ltd - Australia
- Thiess Contractors Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- IHS Mccloskey Coal Group - USA
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- Therma Luzon, Inc, Philippines
- Energy Development Corp, Philippines
- Madhucon Powers Ltd - India
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- Bank of Tokyo Mitsubishi UFJ Ltd
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- Wilmar Investment Holdings
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- Coal and Oil Company - UAE
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- Ind-Barath Power Infra Limited - India
- Attock Cement Pakistan Limited
- Minerals Council of Australia
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- The Treasury - Australian Government
- Agrawal Coal Company - India
- Maheswari Brothers Coal Limited - India
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- Interocean Group of Companies - India
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- European Bulk Services B.V. - Netherlands
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- Electricity Generating Authority of Thailand
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- Samtan Co., Ltd - South Korea
- Altura Mining Limited, Indonesia
- Alfred C Toepfer International GmbH - Germany
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- The University of Queensland
- Standard Chartered Bank - UAE
- Vijayanagar Sugar Pvt Ltd - India
- Oldendorff Carriers - Singapore
- Makarim & Taira - Indonesia
- Edison Trading Spa - Italy
- ICICI Bank Limited - India
- Bhatia International Limited - India
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- Karbindo Abesyapradhi - Indoneisa
- Price Waterhouse Coopers - Russia
- Gujarat Electricity Regulatory Commission - India
- Grasim Industreis Ltd - India
- Sindya Power Generating Company Private Ltd
- Toyota Tsusho Corporation, Japan
- Africa Commodities Group - South Africa
- Ministry of Finance - Indonesia
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- White Energy Company Limited
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- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Semirara Mining Corp, Philippines
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- Pendopo Energi Batubara - Indonesia
- Ambuja Cements Ltd - India
- Mjunction Services Limited - India
- Riau Bara Harum - Indonesia
- McConnell Dowell - Australia
- Kapuas Tunggal Persada - Indonesia
- Sakthi Sugars Limited - India
- London Commodity Brokers - England
- Mercator Lines Limited - India
- Indian Energy Exchange, India
- Electricity Authority, New Zealand
- Formosa Plastics Group - Taiwan
- VISA Power Limited - India
- Indogreen Group - Indonesia
- Sree Jayajothi Cements Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Ceylon Electricity Board - Sri Lanka
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