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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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Tuesday, 21 July 09
FIRST QUARTER COAL MARKET AND EURACOAL'S OUTLOOK FOR THE FUTURE
Euracoal reports that for the first time in many years, the world market for hard coal fell by some 8 % during the first quarter 2009. This latest E ...
Monday, 20 July 09
CHINAS COAL DEMAND, OUTPUT TO PICK UP IN H2 - GROUP 2
Financial24 reported that, China's coal demand is expected to gradually pick up in the second half of the year, and coal output will likely grow fa ...
Monday, 20 July 09
ADANI POWER LAUNCHES IPO, AIMS HIGHER CAPACITY
Economic Times reported that, Adani Power Ltd, a power project development company, promoted by Adani Enterprise went for an initial public offering ...
Monday, 20 July 09
BANPU'S SECOND-HALF PROFIT MAY DROP ON COAL PRICES
Bloomberg Reported that, Banpu Pcl, Thailand’s biggest coal producer, expects profit to decline in the second half from the first six months a ...
Monday, 20 July 09
CHINA COAL PRODUCES 52.7 MLN TONNES OF COAL IN 1H, UP 5.4 PCT
China Mining reported that, China Coal Energy Co., the country's second largest coal producer, said Saturday that it produced 52.67 million tonnes ...
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- Gujarat Sidhee Cement - India
- Malabar Cements Ltd - India
- Parry Sugars Refinery, India
- The Treasury - Australian Government
- Kohat Cement Company Ltd. - Pakistan
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- Coal and Oil Company - UAE
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- Standard Chartered Bank - UAE
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- Makarim & Taira - Indonesia
- Straits Asia Resources Limited - Singapore
- Commonwealth Bank - Australia
- Thai Mozambique Logistica
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- Timah Investasi Mineral - Indoneisa
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- Bank of Tokyo Mitsubishi UFJ Ltd
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- Indian Oil Corporation Limited
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- India Bulls Power Limited - India
- Parliament of New Zealand
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- Romanian Commodities Exchange
- The State Trading Corporation of India Ltd
- European Bulk Services B.V. - Netherlands
- Tamil Nadu electricity Board
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- Planning Commission, India
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- Attock Cement Pakistan Limited
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- ASAPP Information Group - India
- Orica Mining Services - Indonesia
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- Thiess Contractors Indonesia
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- Energy Development Corp, Philippines
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- Medco Energi Mining Internasional
- Alfred C Toepfer International GmbH - Germany
- Directorate Of Revenue Intelligence - India
- Banpu Public Company Limited - Thailand
- Maheswari Brothers Coal Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- Economic Council, Georgia
- Price Waterhouse Coopers - Russia
- Chettinad Cement Corporation Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Georgia Ports Authority, United States
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- Bhushan Steel Limited - India
- Kumho Petrochemical, South Korea
- Independent Power Producers Association of India
- Eastern Energy - Thailand
- Barasentosa Lestari - Indonesia
- Indogreen Group - Indonesia
- Australian Commodity Traders Exchange
- Dr Ramakrishna Prasad Power Pvt Ltd - India
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- SMC Global Power, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Coalindo Energy - Indonesia
- Bangladesh Power Developement Board
- New Zealand Coal & Carbon
- ICICI Bank Limited - India
- Indian Energy Exchange, India
- Petrochimia International Co. Ltd.- Taiwan
- Eastern Coal Council - USA
- Bahari Cakrawala Sebuku - Indonesia
- Salva Resources Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Dalmia Cement Bharat India
- Carbofer General Trading SA - India
- Star Paper Mills Limited - India
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- Samtan Co., Ltd - South Korea
- White Energy Company Limited
- Semirara Mining Corp, Philippines
- Africa Commodities Group - South Africa
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- Electricity Generating Authority of Thailand
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- Karbindo Abesyapradhi - Indoneisa
- Petron Corporation, Philippines
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- Vedanta Resources Plc - India
- Ministry of Transport, Egypt
- Central Java Power - Indonesia
- Global Coal Blending Company Limited - Australia
- Posco Energy - South Korea
- Sical Logistics Limited - India
- CIMB Investment Bank - Malaysia
- Miang Besar Coal Terminal - Indonesia
- Renaissance Capital - South Africa
- Simpson Spence & Young - Indonesia
- Goldman Sachs - Singapore
- Ambuja Cements Ltd - India
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- Cigading International Bulk Terminal - Indonesia
- Siam City Cement PLC, Thailand
- Offshore Bulk Terminal Pte Ltd, Singapore
- IEA Clean Coal Centre - UK
- MS Steel International - UAE
- Deloitte Consulting - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Riau Bara Harum - Indonesia
- Uttam Galva Steels Limited - India
- Edison Trading Spa - Italy
- GMR Energy Limited - India
- Minerals Council of Australia
- PTC India Limited - India
- Therma Luzon, Inc, Philippines
- San Jose City I Power Corp, Philippines
- Leighton Contractors Pty Ltd - Australia
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- Binh Thuan Hamico - Vietnam
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