August 19, 2026 | 02:51 pm
TEMPO.CO, Jakarta - PT Bayan Resources Tbk (BYAN) has responded to rumors regarding a planned 62 percent share acquisition by Jhonlin Group, owned by Andi Syamsudin Arsyad, also known as Haji Isam. Bayan Resources is a coal mining enterprise founded and controlled by tycoon Low Tuck Kwong.
Bayan Resources Corporate Secretary Jenny Quantero stated that the company was unaware of any such corporate action plan. "Currently, the Company is not aware of any plans to take over and/or acquire the Company's shares as referred to in the circulating information," she noted in an information disclosure to the Indonesia Stock Exchange on Tuesday, August 18, 2026.
However, Jenny stated that controlling shareholder Low Tuck Kwong had informed management about potential investment interest. Low Tuck conveyed to management that any investor may consider opportunities and options to maximize their investment in the firm. "As investors, they can consider various opportunities and chances to maximize their investment in the company," he said.
At Bayan Resources, Low Tuck Kwong currently serves as president director. He holds a 40.251 percent direct stake in the issuer, traded under stock code BYAN. However, an additional shareholding exceeding 20 percent remains within the Low family, including Elaine Low with 22.002 percent.
As of the publication of this disclosure, Jenny added, the company possessed no other material information or events that would affect its operational viability or shareholding structure. What remains clear is that the company was unaware of the acquisition plan.
Jenny confirmed that the company is committed to fulfilling its information disclosure obligations if there are material facts that must be disclosed to the public. "The company is always committed to complying with capital market laws and regulations and the provisions of the Indonesia Stock Exchange," she said.
Meanwhile, PT Jhonlin Agro Raya Tbk (JARR) has yet to issue an official public statement regarding this corporate action. In its filing to the Indonesia Stock Exchange, Jhonlin management only announced plans to hold an Extraordinary General Meeting of Shareholders on Monday, September 21, 2026.
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