Samin Tan controls Bakrie?s coal mine business

By Hiski Darmayana

Shareholder meeting of PT Bumi Resources Tbk has appointed Samin Tan as president commissioner to replace Suryo Bambang Susilo.

The shareholders meeting also approved several changes in both boards of directors and commissioners. The number of the board of directors was increased to seven from five previously, while members of the board of commissioners was increased to 13 from eight previously.

Tan?s leading role in the Bakrie?s coal mining business began when he was named as the chairman of Bumi Plc (BUMI) on March 26, 2012. Bumi Plc, which is listed on the London Stock Exchange, is the parent company of BUMI.

In addition, Tan has been also appointed as the president director of PT Bumi Resources Mineral Tbk (BRMS).

Tan entered Bakrie?s coal mining business following the acquisition of BUMI?s 23.8 percent shares from Bakrie and Brothers by his company PT Borneo Lumbung Energi & Metal Tbk (BORN).

The shareholders meeting also approved the board of directors? proposal to pay 15 percent of BUMI?s net profits last year as dividends. ?This year, we pay dividend of Rp 14.31 per share,? BUMI?s director Dileep Srivastaya said.

In 2011, BUMI booked net profit of US$215.1 million.

As of February 29, Bumi Plc owns 29 percent of BUMI, with other shareholders including Citibank London SA Glencore International holding 2.39 percent, Inventures Capital Ote Ltd 2.6 percent, JPMCB-Norges Bank 2.27 percent and the public 62.57 percent.

Board of Commissioners
President Commissioner - Mr Samin Tan (incoming)
Vice President Commissioner - Mr Suryo Bambang Sulisto (Independent)
Commissioners - Mr Iman Taufik (Independent)
- Mr Kusumo Abujono Martoredjo (Independent)
- Mr Nalin Rathod
- Mr Anton Setianto Soedarsono
- Mr Alexander Ramlie (incoming)
- Mr Scott Merrillees (incoming)
- Mr Edison Mawikere (incoming)
- Ms Eva Novita Tarigan(incoming)
- Ms Veronica Tampubulon (incoming)
- Ms Nenie Afwani (incoming)

Board of Directors
President- Mr Ari Hudaya
Vice President - Mr John Slack (incoming)
Director- Mr Kenneth Patrick Farrell
Director- Mr Dileep Srivastava
Director- Mr Andrew Christopher Beckham
Director- Mr Kenneth Raymond Allan (incoming)
Director- Mr Stefan White (incoming).

Editing by Adianto P. Simamora