Asia Resource Minerals appoints new CEO ahead of refinancing

(Adds comment from shareholder, background on new CEO)

LONDON, March 25 (Reuters) - Indonesia-focused coal mining company Asia Resource Minerals (LSE: ARMS.L - news) (ARMS) is replacing its chief executive, it said on Wednesday, as the company goes ahead with a vital refinancing and recapitalisation plan.

The London-listed mining company, previously know as Bumi, said Amir Sambodo has agreed to step down as chief executive with immediate effect and will be replaced by Hamish Tyrwhitt.

Tyrwhitt has previously worked 28 years at Australia-listed construction giant Leighton Holdings Ltd, where he served as chief executive and managing director from 2011 to 2014. He spent most of his career in Asia.

"He brings a wealth of local contacts and relationships in Indonesia coupled with unrivalled operational experience," a large shareholder in ARMS said.

ARMS, which has been struggling with executive battles and tumbling coal prices, reached an agreement this month with some bondholders to restructure notes due in 2015 and 2017 and a trust of financier Nathaniel Rothschild has agreed to underwrite a $100 million rights issue.

Rothschild set up Bumi with Indonesia's prominent Bakrie family in 2010.

On Wednesday the company also said that Britain's Financial Conduct Authority has proposed imposing on it a "substantial" financial penalty after an investigation highlighted a breach of listing rules. (Reporting by Silvia Antonioli; Editing by David Goodman, Greg Mahlich)