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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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Sunday, 21 June 09
CHINESE MINERS SEAL THERMAL COAL DEALS WITH JAPAN AND KOREA
As the confrontation between China's power and coal enterprises become more and more serious, coal enterprises which had supposedly been in the sho ...
Sunday, 21 June 09
MERCATOR TO BUY 3 BULK VESSELS
Mercator Lines, India’s second-largest private shipping company, is expanding its capacity and is set to acquire three gearless post-Panamax b ...
Sunday, 21 June 09
COAL SCARCITY HITS BIHAR POWER PLANTS
The Rs 60,000 crore 12,500mw power projects cleared by the State Investment Planning Board (SIPB) which could change the face of Bihar if commission ...
Sunday, 21 June 09
NLC CHALKS OUT RS 40K CR INVESTMENT
Public sector mini rathna, Neyveli Lignite Corporation is in rapid expansion mode and has chalked out Rs 40,000 crore investment both in
the mining ...
Sunday, 21 June 09
TRANSPORT PROBLEMS HOLD BACK RUSSIAN COAL EXPORTS
Limited rail capacity and poor port infrastructure are frustrating the ambitions of Russia's leading coal producers to increase exports quickly to ...
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- Wilmar Investment Holdings
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- Petron Corporation, Philippines
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- Formosa Plastics Group - Taiwan
- Manunggal Multi Energi - Indonesia
- IHS Mccloskey Coal Group - USA
- Renaissance Capital - South Africa
- Timah Investasi Mineral - Indoneisa
- Billiton Holdings Pty Ltd - Australia
- Eastern Energy - Thailand
- IEA Clean Coal Centre - UK
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- Kaltim Prima Coal - Indonesia
- Directorate Of Revenue Intelligence - India
- Thai Mozambique Logistica
- Dr Ramakrishna Prasad Power Pvt Ltd - India
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- Trasteel International SA, Italy
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- Siam City Cement PLC, Thailand
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- India Bulls Power Limited - India
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- Parliament of New Zealand
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- Straits Asia Resources Limited - Singapore
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- Barasentosa Lestari - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Lanco Infratech Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Star Paper Mills Limited - India
- PTC India Limited - India
- Singapore Mercantile Exchange
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- Wood Mackenzie - Singapore
- Chettinad Cement Corporation Ltd - India
- Parry Sugars Refinery, India
- Aditya Birla Group - India
- Maheswari Brothers Coal Limited - India
- Chamber of Mines of South Africa
- Leighton Contractors Pty Ltd - Australia
- Bhushan Steel Limited - India
- Toyota Tsusho Corporation, Japan
- Binh Thuan Hamico - Vietnam
- Heidelberg Cement - Germany
- Coastal Gujarat Power Limited - India
- GAC Shipping (India) Pvt Ltd
- Pendopo Energi Batubara - Indonesia
- Georgia Ports Authority, United States
- Bukit Baiduri Energy - Indonesia
- International Coal Ventures Pvt Ltd - India
- Romanian Commodities Exchange
- GMR Energy Limited - India
- Globalindo Alam Lestari - Indonesia
- Goldman Sachs - Singapore
- Mintek Dendrill Indonesia
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- Savvy Resources Ltd - HongKong
- Global Business Power Corporation, Philippines
- Carbofer General Trading SA - India
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- Makarim & Taira - Indonesia
- Xindia Steels Limited - India
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- Sojitz Corporation - Japan
- GN Power Mariveles Coal Plant, Philippines
- Coalindo Energy - Indonesia
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- Central Electricity Authority - India
- Ministry of Finance - Indonesia
- Kobexindo Tractors - Indoneisa
- TNB Fuel Sdn Bhd - Malaysia
- Africa Commodities Group - South Africa
- Orica Mining Services - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- MS Steel International - UAE
- Gujarat Electricity Regulatory Commission - India
- Indika Energy - Indonesia
- Medco Energi Mining Internasional
- Ministry of Mines - Canada
- Vizag Seaport Private Limited - India
- Malabar Cements Ltd - India
- Uttam Galva Steels Limited - India
- Mjunction Services Limited - India
- Sindya Power Generating Company Private Ltd
- VISA Power Limited - India
- Ind-Barath Power Infra Limited - India
- Rashtriya Ispat Nigam Limited - India
- Jaiprakash Power Ventures ltd
- Price Waterhouse Coopers - Russia
- Alfred C Toepfer International GmbH - Germany
- PNOC Exploration Corporation - Philippines
- Grasim Industreis Ltd - India
- Eastern Coal Council - USA
- Directorate General of MIneral and Coal - Indonesia
- AsiaOL BioFuels Corp., Philippines
- European Bulk Services B.V. - Netherlands
- White Energy Company Limited
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bahari Cakrawala Sebuku - Indonesia
- Sarangani Energy Corporation, Philippines
- Commonwealth Bank - Australia
- Interocean Group of Companies - India
- OPG Power Generation Pvt Ltd - India
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- LBH Netherlands Bv - Netherlands
- Bukit Asam (Persero) Tbk - Indonesia
- Sakthi Sugars Limited - India
- Maharashtra Electricity Regulatory Commission - India
- SMC Global Power, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
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- Indian Energy Exchange, India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
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- PetroVietnam Power Coal Import and Supply Company
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- Petrochimia International Co. Ltd.- Taiwan
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- PowerSource Philippines DevCo
- Pipit Mutiara Jaya. PT, Indonesia
- Global Green Power PLC Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- Bukit Makmur.PT - Indonesia
- London Commodity Brokers - England
- Banpu Public Company Limited - Thailand
- Videocon Industries ltd - India
- Minerals Council of Australia
- Economic Council, Georgia
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- Asmin Koalindo Tuhup - Indonesia
- Energy Link Ltd, New Zealand
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