09/29/2008 - PT Muji Lines, has completed the aquisition of the KFT from ASL Energy Pte.Ltd

 

Jakarta, August 29, 2008 - PT Bayan Resources Tbk (Bayan Group) is pleased to announce that through one of its subsidiary company’s, PT Muji Lines, it has completed the acquisition of the KFT or Kalimantan Floating Transfer Station from ASL Energy Pte.Ltd (ASL Energy) company for approximately US$ 33.2 million.

 

“The acquisition of the KFT by PT Muji Lines is one of the Corporate Action plans as mentioned in the prospectus using funds derived from the IPO of PT Bayan Resources Tbk.” This acquisition is expected to strengthen the coal logistics capability of the Bayan Group.

About KFT

The KFT is capable of transshipping coal to vessels out at sea. Its benefits include having an onboard magnetic separator as well as an automatic quality sampling system. The KFT can unload coal from barges with capacity ranging from 2,000 to 10,000 DWT. Thereafter coal can be loaded to vessels up to Capesize (200.000 DWT) at a loading rate of approximately 4,000 ton / hour. The KFT will be operated by PT Muji Lines to service the Bayan Group as well as third parties.

About PT MUJI LINES

PT Muji Lines is maritime logistics company that operates the KFT as well as providing coal barging services.

About Bayan Group

Bayan Group was the eighth largest coal producing group in Indonesia in terms of production volume in 2007 and has integrated coal mining, processing and logistics operations as well as being engaged in thermal coal mining. Bayan Group produces coal with a wide range of calorific values.