Indonesia's Sinar Mas says no "plan B" as it is offering premium for ARMS-exec

JAKARTA, May 19 (Reuters) - Indonesian conglomerate Sinar Mas Group said it is confident of winning control of Asia Resource Minerals PLC (ARMS) as it is offering a premium for the London-listed miner and there is no higher rival bid, an executive said on Tuesday.

Asia Coal Energy Ventures Ltd, which is managed by Argyle Street Management and funded by Sinar Mas, offered earlier this month 41 pence per share to buy ARMS, which owns nearly 85 percent of Indonesia's PT Berau Coal Energy Tbk.

The move has raised the pressure on Nathaniel Rothschild's NR Holdings, which is battling for control of ARMS.

"We are confident because we are paying a premium for the company," Fuganto Widjaja, a Sinar Mas official and grandson of the group's founder, told reporters. "We don't have a 'plan B' because right now no one has made a higher bid (for ARMS)." (Reporting by Cindy Silviana; Writing by Eveline Danubrata; Editing by Louise Heavens)