Bumi meeting backs new name

Coal mining giant Bumi confirmed their split from the Bakrie family that helped set the firm up, setting the course for the firm to be renamed Asia Resource Minerals. A shareholder meeting yesterday concluded the separation, as the Bakries agreed to sell their share of Bumi to Samin Tan, one of Indonesia’s richest men. Nat Rothschild, who owns a major share, had initially been opposed to the deal, but reached agreement with the firm’s management.