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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, 16 June 09
INDIAN MINING WORKER ARRESTED IN BENGKULU
Forestry officials in Bengkulu Province, Sumatra, arrested one Indian national and two Indonesians on Sunday for unauthorized exploration in the ele ...
Tuesday, 16 June 09
INDIAN GOVERNMENT MAY ALLOW PRIVATE COMPANIES TO MINE COAL
The government is “strongly considering” to allow commercial coal mining by private companies in a bid to bridge the demand-supply gap, ...
Monday, 15 June 09
SAFRICA'S COAL TERMINAL EXPANSION DELAYED TO Q4
South Africa's Richards Bay Coal Terminal (RBCT) said on Monday the completion of a project to expand the export facility had been delayed to the f ...
Monday, 15 June 09
SHENHUA DENIES GIVING GROUND ON EXPORT COAL PRICE - REUTERS
China Shenhua Energy Co, the country's top coal producer, expects Japanese and South Korean clients to pay at least as much as Chinese customers fo ...
Monday, 15 June 09
POWER PLANT SUFFERS FROM COAL CRISIS - THE STATESMAN
The 3,000 mw NTPC-Kaniha power plant, the second biggest in the country, is facing an unprecedented coal crisis with stocks dipping to a low of only ...
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- Sindya Power Generating Company Private Ltd
- Parliament of New Zealand
- Gujarat Electricity Regulatory Commission - India
- MS Steel International - UAE
- Independent Power Producers Association of India
- Indonesian Coal Mining Association
- Thai Mozambique Logistica
- Ministry of Finance - Indonesia
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- Australian Commodity Traders Exchange
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- SN Aboitiz Power Inc, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ceylon Electricity Board - Sri Lanka
- Edison Trading Spa - Italy
- Binh Thuan Hamico - Vietnam
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- Economic Council, Georgia
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- Barasentosa Lestari - Indonesia
- Power Finance Corporation Ltd., India
- Global Coal Blending Company Limited - Australia
- Ind-Barath Power Infra Limited - India
- White Energy Company Limited
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sojitz Corporation - Japan
- Bayan Resources Tbk. - Indonesia
- Price Waterhouse Coopers - Russia
- CIMB Investment Bank - Malaysia
- Semirara Mining Corp, Philippines
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- Iligan Light & Power Inc, Philippines
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- Petron Corporation, Philippines
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- CNBM International Corporation - China
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- Electricity Generating Authority of Thailand
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- Vijayanagar Sugar Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
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- Indian Energy Exchange, India
- PowerSource Philippines DevCo
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- Borneo Indobara - Indonesia
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- Coastal Gujarat Power Limited - India
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- Standard Chartered Bank - UAE
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- GVK Power & Infra Limited - India
- Thiess Contractors Indonesia
- Merrill Lynch Commodities Europe
- Carbofer General Trading SA - India
- Straits Asia Resources Limited - Singapore
- Mercator Lines Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Renaissance Capital - South Africa
- South Luzon Thermal Energy Corporation
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- Asmin Koalindo Tuhup - Indonesia
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- LBH Netherlands Bv - Netherlands
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- Global Business Power Corporation, Philippines
- Eastern Energy - Thailand
- Maheswari Brothers Coal Limited - India
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- Filglen & Citicon Mining (HK) Ltd - Hong Kong
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- Petrochimia International Co. Ltd.- Taiwan
- Eastern Coal Council - USA
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- VISA Power Limited - India
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- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- IHS Mccloskey Coal Group - USA
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- India Bulls Power Limited - India
- Kobexindo Tractors - Indoneisa
- Commonwealth Bank - Australia
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- Bahari Cakrawala Sebuku - Indonesia
- GMR Energy Limited - India
- Energy Development Corp, Philippines
- Bhatia International Limited - India
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- TNB Fuel Sdn Bhd - Malaysia
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