Company History

Bayan Group’s history dates back to November 1997, when the founding shareholders acquired its first coal mining concession located in Muara Tae, East Kalimantan, now known as PT Gunungbayan Pratamacoal (GBP).

 

The founding shareholders subsequently established PT Bayan Resources Tbk. on 7th October 2004 and proceeded to acquire a number of other concessions previous, including majority shares of PT Dermaga Perkasa Pratama (DPP). DPP is a company engaging in the management of special coal terminal “Balikpapan Coal Terminal” (BCT) which has throughput capacity of up to 15.0 million MT per annum in East Kalimantan.

 

In 2006, the Company was converted from non-investment to limited liability company in domestic investment pursuant to the laws of the Republic of Indonesia. On 12 August 2008, the Company officially registered its shares with the Indonesian Stock Exchange through Initial Public Offering (IPO) with opening price of IDR 5,800/share. In the same year, the Company purchased Kalimantan Floating Transfer 1 (KFT-1) in order to cater for coal shipment for PT Wahana Batubara Mining (WBM). KFT-1 can serve smaller vessels and/or barges as well as capesize vessels in South Kalimantan. In 2010, the Company continued to expand its business by acquiring the shares of Kangaroo Resources Limited (KRL) and its 13 mining concessions, making PT Bayan Resources Tbk the majority shareholder in the company domiciled in Australia and registered with the Australian Stock Exchange. In 2012, the Company also purchased Kalimantan Floating Transfer 2 (KFT-2) in order to cater for coal shipment in East Kalimantan.