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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$143.5mil, which saw the company make a gain of RM161.9mil.
Source: The Star online (By JAGDEV SINGH SIDHU )
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Thursday, 13 August 09
RIO PREPARES COAL IPO AFTER FAILING TO FIND BUYER
Bloomberg reported that, Rio Tinto Group, the world’s third- largest mining company, is preparing an initial public offering for its U.S. ...
Thursday, 13 August 09
NOBLE'S PROFIT DOUBLES ON GLOUCESTER COAL ACQUISITION
Bloomberg reported that, Noble Group Ltd., a Hong Kong-based supplier of raw materials from soybeans to coal, said second- quarter profit more than ...
Thursday, 13 August 09
CHINA COAL-PRICES UNCHANGED, BUT LIKELY TO MOVE HIGHER
Alibaba reported that, Spot coal prices in China's top coal port Qinhuangdao were unchanged from a week earlier, but are still looking bullish in t ...
Thursday, 13 August 09
INDONESIA'S BERAU COAL SEES 2010 OUTPUT UP 16 PCT
Reuters reported that, Indonesia's fifth-largest coal miner, PT Berau Coal, expects 2010 production to be nearly 16 percent higher than this year, ...
Thursday, 13 August 09
JAYPEE GROUP. L&T INK RS 4,000-CRORE (US$ 824,818,084) DEAL
Second order bagged by L&T in the supercritical segment.
Jaiprakash Power Ventures Ltd (JPVL), promoted by the $7-billion Jaypee group, has s ...
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- Australian Coal Association
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- ICICI Bank Limited - India
- Wood Mackenzie - Singapore
- Australian Commodity Traders Exchange
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- Indian Energy Exchange, India
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- Economic Council, Georgia
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- Minerals Council of Australia
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- Ministry of Finance - Indonesia
- Cement Manufacturers Association - India
- Oldendorff Carriers - Singapore
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- Timah Investasi Mineral - Indoneisa
- Indian Oil Corporation Limited
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- Energy Development Corp, Philippines
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- Singapore Mercantile Exchange
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- CIMB Investment Bank - Malaysia
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- London Commodity Brokers - England
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- Bharathi Cement Corporation - India
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- Alfred C Toepfer International GmbH - Germany
- Uttam Galva Steels Limited - India
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- Asia Pacific Energy Resources Ventures Inc, Philippines
- Anglo American - United Kingdom
- Globalindo Alam Lestari - Indonesia
- Aboitiz Power Corporation - Philippines
- Mintek Dendrill Indonesia
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- TNB Fuel Sdn Bhd - Malaysia
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- Ministry of Transport, Egypt
- Siam City Cement PLC, Thailand
- Mercuria Energy - Indonesia
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- Global Green Power PLC Corporation, Philippines
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- Semirara Mining and Power Corporation, Philippines
- Heidelberg Cement - Germany
- Directorate General of MIneral and Coal - Indonesia
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- Georgia Ports Authority, United States
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- Kaltim Prima Coal - Indonesia
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- Eastern Coal Council - USA
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- Maharashtra Electricity Regulatory Commission - India
- Carbofer General Trading SA - India
- Kepco SPC Power Corporation, Philippines
- Energy Link Ltd, New Zealand
- India Bulls Power Limited - India
- Metalloyd Limited - United Kingdom
- Price Waterhouse Coopers - Russia
- Merrill Lynch Commodities Europe
- The State Trading Corporation of India Ltd
- Antam Resourcindo - Indonesia
- Straits Asia Resources Limited - Singapore
- Planning Commission, India
- Binh Thuan Hamico - Vietnam
- Indo Tambangraya Megah - Indonesia
- Port Waratah Coal Services - Australia
- Simpson Spence & Young - Indonesia
- Sree Jayajothi Cements Limited - India
- Commonwealth Bank - Australia
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- GVK Power & Infra Limited - India
- Africa Commodities Group - South Africa
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- Electricity Generating Authority of Thailand
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- Tamil Nadu electricity Board
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- Barasentosa Lestari - Indonesia
- Salva Resources Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- Goldman Sachs - Singapore
- Ministry of Mines - Canada
- Formosa Plastics Group - Taiwan
- Holcim Trading Pte Ltd - Singapore
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- SMC Global Power, Philippines
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- Electricity Authority, New Zealand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
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- Orica Mining Services - Indonesia
- Latin American Coal - Colombia
- Intertek Mineral Services - Indonesia
- Parliament of New Zealand
- Central Electricity Authority - India
- Baramulti Group, Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- GMR Energy Limited - India
- Banpu Public Company Limited - Thailand
- Riau Bara Harum - Indonesia
- Chamber of Mines of South Africa
- Edison Trading Spa - Italy
- Bhoruka Overseas - Indonesia
- Romanian Commodities Exchange
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- Orica Australia Pty. Ltd.
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- Sojitz Corporation - Japan
- IEA Clean Coal Centre - UK
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- Videocon Industries ltd - India
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