At 10.18 am Jakarta time, BORN was traded at Rp530 per share with 20.41 million shares exchanged hands. At the current price, BORN has market capitalization of Rp375.09 billion. The stock had gained 15% from its lowest at Rp460 on August 2012.
Media speculated that Samin and his BORN might lose Asmin Koalindo Tuhup (AKT), the main producing asset, in the current arbitration process filed by Transasia Minerals Limited and Bondline Limited at Singapore International Arbitration Center (SIAC).
The arbitrastion was filed because Samin Tan allegedly failed to honor US$10 million of penalty for the late payment of US$175 million acquisition of AKT in early december 2009. (hans@theindonesiatoday.com)