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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, 27 April 09
JSW ENERGY SET TO SNAP UP AFRICAN COAL MINE FOR $70 MN - ECONOMIC TIMES
Sajjan Jindal-led JSW Energy is close to acquiring a sub-Saharan African thermal coal mine, which has reserves of more than 200 million ...
Monday, 27 April 09
INDONESIA MINING RULES MAY DETER INVESTORS-OFFICIALS - REUTERS
Indonesia's rules on foreign divestment of mining projects must be revised to address issues such as finding buyers if Southeast Asia's biggest ec ...
Monday, 27 April 09
UNDERGROUND MINING IN FOREST AREAS NOT SO SIMPLE - THE JAKARTA POST
The government's plan to issue a presidential decree allowing mining companies to mine underground in protected forest concession areas has resulte ...
Monday, 27 April 09
COAL PRICES ABOVE FUNDAMENTALS - STUFF.CO.NZ
Coal prices have defied the gravity of fundamental factors, supported by stockpiling prompted by cheaper prompt prices rather than a reflextion of a ...
Sunday, 26 April 09
MITRA HOPES TO SECURE DEALS WITH TWO COAL FIRMS BY JUNE - THE JAKARTA POST
An integrated oil and gas services company, publicly listed PT Mitra Rajasa, is expecting to seal acquisition deals with two coal companies in June, ...
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- Singapore Mercantile Exchange
- Billiton Holdings Pty Ltd - Australia
- Kalimantan Lumbung Energi - Indonesia
- Ambuja Cements Ltd - India
- Orica Mining Services - Indonesia
- Jindal Steel & Power Ltd - India
- Mercator Lines Limited - India
- Posco Energy - South Korea
- IEA Clean Coal Centre - UK
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- Intertek Mineral Services - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Therma Luzon, Inc, Philippines
- Salva Resources Pvt Ltd - India
- Economic Council, Georgia
- Georgia Ports Authority, United States
- Straits Asia Resources Limited - Singapore
- Timah Investasi Mineral - Indoneisa
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- Kepco SPC Power Corporation, Philippines
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- Banpu Public Company Limited - Thailand
- Eastern Coal Council - USA
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- ICICI Bank Limited - India
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- Independent Power Producers Association of India
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- Minerals Council of Australia
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- Mintek Dendrill Indonesia
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- Bulk Trading Sa - Switzerland
- CNBM International Corporation - China
- Baramulti Group, Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Bhatia International Limited - India
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- Romanian Commodities Exchange
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- Meralco Power Generation, Philippines
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- Goldman Sachs - Singapore
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- Orica Australia Pty. Ltd.
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- Kohat Cement Company Ltd. - Pakistan
- White Energy Company Limited
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- Electricity Authority, New Zealand
- Sarangani Energy Corporation, Philippines
- TeaM Sual Corporation - Philippines
- Binh Thuan Hamico - Vietnam
- Parliament of New Zealand
- Indian Energy Exchange, India
- Bukit Baiduri Energy - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- TNB Fuel Sdn Bhd - Malaysia
- Ministry of Finance - Indonesia
- Port Waratah Coal Services - Australia
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- Manunggal Multi Energi - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- GAC Shipping (India) Pvt Ltd
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- PetroVietnam Power Coal Import and Supply Company
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- Jaiprakash Power Ventures ltd
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- Pipit Mutiara Jaya. PT, Indonesia
- Marubeni Corporation - India
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- Tamil Nadu electricity Board
- Miang Besar Coal Terminal - Indonesia
- CIMB Investment Bank - Malaysia
- Petrochimia International Co. Ltd.- Taiwan
- Wood Mackenzie - Singapore
- MS Steel International - UAE
- Latin American Coal - Colombia
- Semirara Mining Corp, Philippines
- Rashtriya Ispat Nigam Limited - India
- The University of Queensland
- ASAPP Information Group - India
- SMC Global Power, Philippines
- Thai Mozambique Logistica
- Kobexindo Tractors - Indoneisa
- Ministry of Mines - Canada
- Interocean Group of Companies - India
- Africa Commodities Group - South Africa
- Commonwealth Bank - Australia
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- Bhoruka Overseas - Indonesia
- Chettinad Cement Corporation Ltd - India
- Mjunction Services Limited - India
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- Samtan Co., Ltd - South Korea
- Coal and Oil Company - UAE
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- LBH Netherlands Bv - Netherlands
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- OPG Power Generation Pvt Ltd - India
- IHS Mccloskey Coal Group - USA
- Kideco Jaya Agung - Indonesia
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- Altura Mining Limited, Indonesia
- Pendopo Energi Batubara - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- India Bulls Power Limited - India
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- Australian Commodity Traders Exchange
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- Videocon Industries ltd - India
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