Bloomberg News

Indonesia Stocks: Bakrie Sumatera, Chandra Asri, Medco Energi

October 04, 2011

Oct. 4 (Bloomberg) -- Shares of the following companies had unusual moves in Indonesian trading. Stock symbols are in parentheses and prices are as of the 4 p.m. Jakarta-time close.

The Jakarta Composite index fell 79.26 points, or 2.4 percent, to 3,269.45, extending yesterday’s 5.6 percent plunge. The gauge lost 8.7 percent in the third quarter, the steepest slump since the period ended December 2008.

Energy companies: PT Medco Energi Internasional (MEDC IJ), Indonesia’s biggest listed oil company, sank 2.6 percent to 1,900 rupiah and PT Energi Mega Persada (ENRG IJ), the second- largest, lost 2.6 percent to 114 rupiah. Crude oil futures declined as much as 2.2 percent to $75.92 a barrel in after- hours trading in New York, dropping for a third day.

Palm oil producers: PT Perusahaan Perkebunan London Sumatra Indonesia (LSIP IJ), the palm oil and rubber producer, fell 4.4 percent to 1,740 rupiah and PT Bakrie Sumatera Plantations (UNSP IJ) lost 4 percent to 240 rupiah. Palm oil futures slid as much as 1.3 percent to 2,807 ringgit ($876) a metric ton in Kuala Lumpur, after losing 2.1 percent yesterday.

PT Chandra Asri Petrochemical (TPIA IJ), a polypropylene producer, advanced 7.7 percent to 3,500 rupiah. The company obtained a $465 million loan from seven local and foreign banks, Bisnis Indonesia reported, citing Suryandi, a corporate secretary at the company. Suryandi couldn’t be reached when called at his office in Jakarta.

--Editor: Shiyin Chen

To contact the reporter on this story: Berni Moestafa in Jakarta at bmoestafa@bloomberg.net

To contact the editor responsible for this story: Darren Boey at dboey@bloomberg.net


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