JAKARTA (TheInsiderStories) – Sinarmas Group appointed Fuganto Widjaja as a new chief executive (CEO) of PT Berau Coal Energy Tbk (IDX: BRAU) replacing Amir Sambodo, while, Gandi Sulistiyanto Soeherman replaces Deswandhy Agusman as Chief Commissioner. The board changing was made following the completion of the acquisition of Asia Resources Minerals (ARMS).
Sinar Mas Group completed the acquisition of London-based miner Asia Resources Minerals (ARMS) on July 15. ARMS indirectly holds 84.7% of the issued and paid capital of Berau Coal Energy through Vallar Investment UK Ltd. ARMS has been de-listed from London Stock Exchange. Sinar Mas through Asia Coal Energy Ventures (ACE) will wholly own ARMS by September.
Within Sinar Mas Group, Fuganto Widjaja, a grandson of Eka Tjipta Widjaja, the founder of diversified Sinar Mas Group, is responsible for overseeing the overall management and operations of the Group. He is currently the president director of PT Golden Energy Mines Tbk (GEMS), director of PT Sinar Mas Multiartha Tbk (SMMA), as well as sits on the board of commissioners of various Sinar Mas companies in Indonesia such as PT Dian Swastatika Sentosa Power and RCI LLC.
He was previously an investment analyst at UBS Bank Singapore, President Director of PT Super Wahana Techno and Vice President Director of Background Investigation Bureau (BIB).
Fuganto graduated from College of Arts and Sciences Cornell Univerity in 2003 majoring in computer science and economics and from Judge Business School, Cambridge University in 2004.
Board of Commissioners of Berau Coal Energy
Chairman : Ir. Gandi Sulistiyanto Soeherman
Vice Chairman/Independent Commissioner : Dr. Marsetio
Independent Commissioner : Deswandhy Agusman
Commissioner : Dr. H. Darmono, S.H., M.H.
Board of Directors
Chief Executive Officer : Fuganto Widjaja
Director : Bambang Heruawan Haliman
Director : Edy Santoso, S.H., M.H.
Independent Director : Arief Wiedhartono