P T Bayan's largest and controlling stake holder is...

P T Bayan's largest and controlling stake holder is multi-billionaire Low Tuck Kwong: http://www.forbes.com/profile/kwong-low-tuck/
It is known that he master-minded the controlling purchase of Kangaroo Resources.

The moves so far by Bayan against White Energy do seem to fit the picture for the profile of Low Tuck Kwong (Kwong), and he was born in Singapore and transferred to Indonesia for business reasons. If Kwong advises any moves concerning WEC it would be purely for his own ends.

So Kwong and not P T Bayan themselves is the power behind the throne here and he may well have misjudged the strength and ability of WEC's very experienced directors; concerning their blocking move of Bayan's majority holding in Kangaroo Resources.

Kwong has only been interested in building his stake in Bayan so far, and coal holdings in Indonesia through Bayan. However, it might be to his future advantage to buy WEC's tecnology rights to upgrade coal in Indonesia, through Bayan.

If Kwong advised a bid for WEC it would need to be an off-market bid and would prove to be very expensive with WEC directors and former directors, holding so much stock. However, a few may cave in.