Bayan Resources Addresses Haji Isam Acquisition Rumors
Bayan Resources is a coal mining company founded and controlled by tycoon Low Tuck Kwong. He owns a stake of over 40 percent in the BYAN-coded issuer.
PT Bayan Resources Tbk, a coal mining company controlled by tycoon Low Tuck Kwong, has denied rumors of a 62 percent share acquisition by Jhonlin Group, owned by Haji Isam. The Corporate Secretary, Jenny Quantero, stated that the company was unaware of any plans to take over or acquire its shares. Low Tuck Kwong, who holds a 40.251 percent direct stake, informed management that any investor could explore opportunities to maximize their investment.
The Low family holds an additional 22.002 percent in the company. As of the disclosure, there were no other material information or events affecting the company's operational viability or shareholding structure. Jhonlin Group has not issued an official statement yet, but has announced an Extraordinary General Meeting of Shareholders on September 21, 2026.
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