The Bakries' strategy remained unchanged: aggressive acquisitions with high leverage. In
2009, the largest company in the Group - Bumi Resources -secured a US$1.9 billion loan
from a Chinese sovereign wealth fund (China Investment Corp) at an annual interest rate of
19%, pushing up the company's net debt to $3.6 billion and its debt-to-equity ratio to 2.16.'J
With these funds, the Group acquired three miningcompanies - Arutmin, a thermal coal mine
in Kalimantan, Kaltim PrimaCoal in East Kalimantan, andAustralia-based Herald Resources,
which owned a concession with zinc and lead deposits in Sumatra.IS The Bakries comeback
on the Indonesian business scenewascomplete.