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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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Monday, 10 August 09
POLICY HURDLES DELAY NALCO'S U$$ 4.166 BILLION OVERSEAS PROJECTS
National Aluminium Company Ltd's (NALCO) greenfield projects in overseas markets like Indonesia and Iran are in limbo because of political
...
Monday, 10 August 09
SAIL, TATA STEEL TO REDUCE COAL IMPORTS BY PARADIP PORT
World Shipping News reported that, Steel Authority of India Ltd (SAIL) and Tata Steel have scaled down coal imports through Paradip Port, hit by pre ...
Monday, 10 August 09
NTPC LIKELY TO SET UP POWER PLANTS IN NIGERIA AND SRILANKA
Economic time reported that, National Thermal Power Corporation Limited (NTPC), country's largest power utility, is likely to set up power plants i ...
Monday, 10 August 09
VINACOMIN TO SELL COAL AT MARKET PRICES TO DOMESTIC USERS
VNBusinessNews.com - Reuters reported that Vietnamese government has agreed to let coal monopoly Vinacomin sell coal at market oriented prices to do ...
Sunday, 09 August 09
TNEB ENNORE PORT CALLS TO TRIPLE COAL OUTPUT
World Shipping News reported that, the Tamil Nadu Electricity Board (TNEB) has asked Ennore Port Ltd (EPL) to increase the port’s installed ca ...
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- The University of Queensland
- Rio Tinto Coal - Australia
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- Electricity Authority, New Zealand
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- Goldman Sachs - Singapore
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- Energy Development Corp, Philippines
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- SN Aboitiz Power Inc, Philippines
- Alfred C Toepfer International GmbH - Germany
- Star Paper Mills Limited - India
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- Larsen & Toubro Limited - India
- Videocon Industries ltd - India
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- Economic Council, Georgia
- Gujarat Electricity Regulatory Commission - India
- Minerals Council of Australia
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- Billiton Holdings Pty Ltd - Australia
- Anglo American - United Kingdom
- Indo Tambangraya Megah - Indonesia
- Bhoruka Overseas - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Orica Australia Pty. Ltd.
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- India Bulls Power Limited - India
- CIMB Investment Bank - Malaysia
- The Treasury - Australian Government
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- Semirara Mining and Power Corporation, Philippines
- Deloitte Consulting - India
- Sree Jayajothi Cements Limited - India
- Parliament of New Zealand
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- Simpson Spence & Young - Indonesia
- European Bulk Services B.V. - Netherlands
- Bank of Tokyo Mitsubishi UFJ Ltd
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- GAC Shipping (India) Pvt Ltd
- Bulk Trading Sa - Switzerland
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- Pipit Mutiara Jaya. PT, Indonesia
- London Commodity Brokers - England
- Kumho Petrochemical, South Korea
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- Ambuja Cements Ltd - India
- Sical Logistics Limited - India
- IHS Mccloskey Coal Group - USA
- Aditya Birla Group - India
- Bhushan Steel Limited - India
- Eastern Energy - Thailand
- CNBM International Corporation - China
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- Indian Oil Corporation Limited
- Vizag Seaport Private Limited - India
- Port Waratah Coal Services - Australia
- GN Power Mariveles Coal Plant, Philippines
- Directorate Of Revenue Intelligence - India
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- International Coal Ventures Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- IEA Clean Coal Centre - UK
- Ministry of Finance - Indonesia
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- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ministry of Mines - Canada
- Heidelberg Cement - Germany
- Jindal Steel & Power Ltd - India
- Edison Trading Spa - Italy
- Singapore Mercantile Exchange
- Bahari Cakrawala Sebuku - Indonesia
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- Maharashtra Electricity Regulatory Commission - India
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- Global Coal Blending Company Limited - Australia
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- Chamber of Mines of South Africa
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- Price Waterhouse Coopers - Russia
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- Africa Commodities Group - South Africa
- Central Electricity Authority - India
- PTC India Limited - India
- Merrill Lynch Commodities Europe
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- Australian Coal Association
- Bangladesh Power Developement Board
- Antam Resourcindo - Indonesia
- Latin American Coal - Colombia
- Eastern Coal Council - USA
- Rashtriya Ispat Nigam Limited - India
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- Planning Commission, India
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