BUZZ-Asia Resource Minerals: Shoots up after possible bid proposal

** Asia Resource Minerals Plc (LSE: ARMS.L - news) 's (ARMS) stock shoots up 88 pct, after the Indonesia-focused coal miner emerges as the subject of a possible 210 mln stg ($310.36 mln) bid from a vehicle funded by tycoon Eka Tjipta Widjaja's Sinarmas Group

** Asia Coal Ventures, a vehicle managed by hedge fund ASML which is already a shareholder in ARMS and whose funds are being provided by Indonesia's Sinarmas, is considering making a possible cash offer for ARMS, it said in a post market statement

** The stock, which has been hit by executive battles and tumbling coal prices, hits a high of 28.26 pence; still trading significant below the 41 pence per share potential offer

** Offer at a premium of 173 pct to Tuesday's closing share price

** The stock has lost nearly three-quarters of its value over the past year