PT Bayan Resources has received a bid from Indonesian tycoon Andi Syamsuddin Arsyad that values the coal miner at a fraction of its market value, according to people familiar with the matter. An entity controlled by Haji Isam, as Syamsuddin is frequently known, has offered around $3 billion cash for a 62% stake in Jakarta-based Bayan Resources, which is mostly owned by billionaire Low Tuck Kwong and his daughter, Elaine, the people said, asking not to be identified because the details are private.