Bloomberg News

Indonesia Stock Movers: Astra International, Energi Mega, Telkom

October 06, 2011

Oct. 6 (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 advanced for a second day, gaining 149.87 points, or 4.6 percent, to 3,443.11.

Energy companies: PT Medco Energi Internasional (MEDC IJ), Indonesia’s largest listed oil company, gained 5.3 percent to 1,980 rupiah and PT Energi Mega Persada (ENRG IJ), the second- biggest, surged 10 percent to 128 rupiah. Crude oil for November delivery jumped 5.3 percent to $79.68 a barrel in New York yesterday, the most in almost five months. Futures last traded at $80.75 a barrel.

PT Astra International (ASII IJ), Indonesia’s biggest auto retailer, advanced 5.9 percent to 60,700 rupiah, the first increase in five days. Astra is planning $1.5 billion of capital expenditure next year to help expand its business, Kontan reported, citing Director Gunawan Geniusahardja. Astra will use 40 percent of that total for infrastructure projects, according to the report. Arief Istanto, a company spokesman, couldn’t be reached when called at his office in Jakarta.

PT Telekomunikasi Indonesia (TLKM IJ), the nation’s largest telephone company, declined 1.3 percent to 7,600 rupiah, the biggest drag on the Jakarta Composite Index. Telkom, as the company is also known, canceled a plan to buy a stake in Cambodia’s CamGSM Ltd., said Finance Director Sudiro Asno.

--Editor: Matthew Oakley

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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