A report in today's Spore Business Times (http://business-times.asia1.com.sg) said that Scomi may list one of its major foreign subsidiaries (KMC Oiltools) on the SGX.

KMC is reported to have contributed more than 40% of Scomi's RM1.1 billion revenue in 2005.

Scomi is controlled by Msian businessmen Shah Hakim and Kamaluddin Abdullah.

If the report is true, I can just picture TDM preparing to launch a few choice salvoes on this.