Haji Isam swoops on Bayan to create an Indonesian coal giant
The deal would make the tycoon from Kalimantan one of the world’s top coal producers
Indonesian tycoon Haji Isam, also known as Andi Syamsuddin Arsyad, has reached a deal to acquire a significant stake in miner Bayan Resources. The acquisition will position Haji Isam among the world's top coal producers, as he plans to own one of the largest coal mining companies globally. Through his company, Jhonlin Baratama, Haji Isam plans to acquire 30% of Bayan's shares from current shareholders Low Tuck Kwong and Elaine Low, pending several conditions and an undisclosed price.
This deal comes after a US$3 billion cash offer for a 62% stake in the coal company was made in September. Haji Isam, 49, has been actively supporting Indonesian President Prabowo Subianto's 2024 election campaign and is involved in several major government projects. His conglomerate, Jhonlin Group, is already a major producer of thermal coal, with a requested mining quota of 60 million tonnes in 2026.
Bayan Resources, founded in 2004 by Singapore-born Low, mined around 68 million tonnes in 2025. The combined production of Bayan and Jhonlin would give Haji Isam the largest miner in Indonesia, the world's biggest exporter of thermal coal.
Written by urgent.news from The Business Times - Companies & Markets's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
