Bloomberg News

Indonesia Stocks: Astra International, Bumi, Energi Mega Persada

October 21, 2011

Oct. 21 (Bloomberg) -- Shares of the following companies had unusual moves in Indonesian trading. Stock symbols are in parentheses and prices are as of the close in Jakarta.

The Jakarta Composite index lost 0.1 percent to 3,620.66, falling for a second day. The gauge slid 1.2 percent this week.

PT Astra International (ASII IJ), Indonesia’s biggest automotive retailer, fell 2.5 percent to 66,100 rupiah. The nation’s vehicle sales will likely fall short of the targeted 870,000 units this year as flooding in Thailand disrupted supplies, said Johnny Darmawan, president director at PT Toyota- Astra Motor.

Toyota Motor Corp. will reduce production in Indonesia for one week starting Oct. 24, the Tokyo Shimbun newspaper reported, without saying where it got the information. Astra sells Toyota vehicles. Arief Istanto, a spokesman at Astra, couldn’t be reached when called at his office in Jakarta.

PT Bumi Resources (BUMI IJ), Indonesia’s largest coal producer, rose 4.8 percent to 2,200 rupiah, the biggest boost to the Jakarta Mining Index. Shareholders approved today the company’s plan to buy back shares, Corporate Secretary Dileep Srivastava said. Bumi’s immediate objective is to buy back about 200 million shares for about $60 million or $70 million to allow them to settle convertible bonds next year, Srivastava said.

PT Energi Mega Persada (ENRG IJ), Indonesia’s second- largest listed oil company, gained 3.1 percent to 165 rupiah. Energi Mega has submitted a bid to buy 36.7 percent of Cnooc Ltd.’s stakes in the Offshore North West Java oil block, Investor Daily Indonesia reported, citing Imam P. Agustino, president director at Energi Mega. Agustino couldn’t be reached when called at his office.

--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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