Tuesday, July 13, 2010

Scomi Marine active, down in early trade

KUALA LUMPUR: SCOMI MARINE BHD [] shares were actively traded on Tuesday, July 13 after the company proposed a sale of its assets to its Indonesian subsidiary PT Rig Tenders (PTRT) for US$171.8 million (RM550 million), an exercise that will leave the company principally as a cash-rich shell.

At 9.05am, there were 2.3 million Scomi Marine shares traded. The counter fell two sen to 41 sen.

Under the corporate exercise, Scomi Marine will see it disposing of its coal transportation business to become a marine logistics player.

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