Make money one u sell, now u buy another one that is not sure, KANASAI.
Hope the quarter result that going to announce around 25 May 2010 will be a good one.
SCOMI Marine Bhd, an oil and gas services provider, has inked a sale of shares agreement with ANZ Capital Sdn Bhd and Mirapo Sdn Bhd, to acquire a 60 per cent stake in Trans Advantage Sdn Bhd (TASB) for RM9.0 million. Scomi Marine in a statement today said the proposed acquisition is expected to contribute positively to its earnings and net assets. Following the completion of the acquisition, TASB will be a wholly-owned subsidiary of Scomi Marine. "With the new controlling stake in TASB and the company's track record, Scomi Marine will be in a better position to take advantage of the opportunities in the bulk market segment and expand to new markets," Scomi Marine President Mukhnizam Mahmud said.
TASB is involved in the provision of marine transportation services which includes vessel chartering, managing and operating, in relation to the carriage of bulk coal. It is currently engaged in the coal transportation services, using the Panamax vessels or bulk carriers and has been contracted to carry 1.5 million metric tonnes of coal, in Malaysia. Last year, it moved 28 million metric tonnes of coal globally. Mukhnizam said demand for coal transportation services is expected to increase driven by rising power plant requirements from China and India. In Malaysia, the coal usage requirement has grown to 19 million metric tonnes per annum in tandem with increasing electricity consumption in the country. BERNAMA