Bayan approves resignation of two directors, appoints new director

By Ruli Setiawan

IDX-listed coal mining firm PT Bayan Resources Tbk said that a shareholders meeting on May 27 has approved the resignation of Je-Hung Lee and Hermanto Suparman from the board of directors.

The company said in a statement Tuesday that the shareholders meeting also approved the appointment of Jun Hyun-Oh into the nine-member board of directors (BoD). He will be effective in the post until the closing of the annual shareholders meeting in 2018.

Elsewhere, the company said that the meeting has also re-appointed Low Tuck Kwong, Michael Sumarijanto and Rozik B. Soetjipto into the board of commissioners. It has also appointed Amir Sambodo and Ridha D. Muliawibawa Wirakusumah as independent commissioners.

Bayan, which operates coal mines in South and East Kalimantan, aims to produce between 11-14 million tons of coal this year, and sales volume target of 13-16 million tons.

Editing by Reiner Simanjuntak