Generally, What i see from SCOMIMR now

SCOMIMR Announcement on 4th Jan 10.

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Date of change	:	31/12/2009
Type of change	:	Resignation
Designation	:	Chairman
Directorate	:	Non Independent & Non Executive
Name	:	Tan Sri Nik Mohamed bin Nik Yaacob
Age	:	60
Nationality	:	Malaysian
Qualifications	:	1) Engineering Degree from the Monash University; and 2) Master in Business Management from the Asian Institute of Management
Working experience and occupation	:	Tan Sri Nik Mohamed served as the Group Chief Executive of Sime Darby Berhad from 1993 until his retirement in June 2004, and also served on the Board of many of the Sime Darby Group companies during the stipulated period.
Directorship of public companies (if any)	:	1) Guocoland (Malaysia) Berhad (formerly known as Hong Leong Properties Bhd) 2) Scomi Group Bhd 3) Bolton Berhad 4) Kencana Petroleum Bhd 5) Perdana Leadership Foundation
Family relationship with any director and/or major shareholder of the listed issuer	:	Nil
Any conflict of interests that he/she has with the listed issuer	:	Nil
Details of any interest in the securities of the listed issuer or its subsidiaries	:	Options granted pursuant to the Company's ESOS to subscribe for 1,000,000 shares of RM1.00 each in the Company.

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Date of change	:	01/01/2010
Type of change	:	Appointment
Designation	:	Chairman
Directorate	:	Non Independent & Non Executive
Name	:	Tan Sri Datuk Asmat bin Kamaludin
Age	:	65
Nationality	:	Malaysian
Qualifications	:	1) Diploma in European Economic Integration from the University of Amsterdam; and 2) Bachelor of Arts (Honours) degree in Economics from the University of Malaya.
Working experience and occupation	:	Tan Sri Datuk Asmat has vast experience in various capacities in the public service and his last position was as the Secretary-General of the Ministry of International Trade and Industry, a position he held from 1992 to 2001. He has served as Economic Counsellor for Malaysia in Brussels and worked with several international bodies such as ASEAN, the World Trade Organisation and the Asia-Pacific Economic Corporation, representing Malaysia in relevant negotiations and agreements. Tan Sri Datuk Asmat has also been actively involved in several national organisations such as Permodalan Nasional Bhd, Johor Corporation, the Small and Medium Scale Industries Corporation (SMIDEC) and the Malaysia External Trade Development Corporation (MATRADE) while in the Malaysian Government service. Tan Sri Datuk Asmat also served as Governor representing Malaysia on the governing Board of the Economic Research Institute for Asean and East Asia (ERIA).
Directorship of public companies (if any)	:	1) Scomi Group Bhd 2) Permodalan Nasional Bhd 3) Malaysian Pacific Industries Bhd 4) UMW Holdings Berhad 5) Lion Industries Corporation Berhad 6) YTL Cement Berhad 7) Panasonic Manufacturing Malaysia Berhad 8) Symphony House Bhd 9) TASCO Berhad (formerly known as Trans-Asia Shipping Corporation Berhad) 10) JACTIM Foundation 11) Compugates Holdings Berhad 12) The Royal Bank of Scotland Berhad (formerly known as ABN AMRO Bank Berhad)
Family relationship with any director and/or major shareholder of the listed issuer	:	Tan Sri Datuk Asmat is the brother-in-law of Vice Admiral Dato' Haron bin Dato' (Dr) Mohd Salleh (Rtd), an Independent Non-Executive Director of the Company.
Any conflict of interests that he/she has with the listed issuer	:	Nil
Details of any interest in the securities of the listed issuer or its subsidiaries	:	Nil

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1st trading day in 2010 already announce the change of the Chairman.. the new 1 look like got some background.. haha.. good sign for SCOMIMR?

Last few days spent some time to understand the company. Although generally she is almost in the same field as SEALINK but what they actually doing is mainly in the logistic of the coal. the business is also more in Indonesia and Singapore, and few from SME.

The business profit are mainly contributed from the logistic that they are doing as above and only few ten % are from offshose support. I'm refering to their latest Q report for this info.

For seen the company is really taking some action to overcome the bad economy that they are undergoing last year and the year before, and this results with better profit even revenue reduced slightly. thay had improve their operation cost and this use to cover their lower profit in offshose section.

Atleast the company is doing something, this increase some of my confident onto this company.

Cash on hand is <>140M, don't think is a big deal for the time being. As long as the company is making profit. Anyway.. will KIV this.

For the business, offshoes support should recover anyway just the metter of time and for the logistic section, i have no idea on it.. haha.. must read more... This company mainly is doing logistic business around SE Asia, Dubai effect will not be that big anyway, so still in save region.

On top of this the PE is only 5.++ at the time i bot in with the share price ~0.40. i think this is save enough for this stock. Long terms wise it should be a good sign and potential. OK.. this is all for the 1st posting in 2010.. Wishing everybody outthere who invest in stock have a great great earning in 2010!! cheer!!