Bloomberg News

Indonesia Stocks: Bank Internasional, BW Plantation, Indofood

November 01, 2011

Nov. 1 (Bloomberg) -- Shares of the following companies had unusual moves in Indonesian trading. Stock symbols are in parentheses and share prices are as of 9:58 a.m. in Jakarta.

The Jakarta Composite index fell 0.2 percent to 3,784.06, its second day of declines. The measure climbed 6.8 percent in October, the steepest increase since September 2010.

PT Bank Internasional Indonesia (BNII IJ), the Indonesian unit of Malayan Banking Bhd., rose 1.2 percent to 435 rupiah, set for its highest close since Sept. 16. Bank Internasional’s net income in the nine months ended Sept. 31 increased 34 percent from a year earlier to 555 billion rupiah ($62 million), according to an e-mailed statement from its Malaysian parent Malayan Banking.

PT BW Plantation (BWPT IJ), a palm oil producer, climbed 1.7 percent to 1,190 rupiah. Nine-month net income rose to 235.17 billion rupiah from 142.23 billion rupiah from a year earlier, the company said in a statement to the stock exchange.

PT Indofood Sukses Makmur (INDF IJ), the nation’s biggest instant-noodle maker, sank 1.9 percent to 5,150 rupiah, set for its lowest close since Oct. 11. Indofood was cut to “fully valued” from “hold” by Ben Santoso, an analyst at DBS Vickers. The 12-month target price is 4,875 rupiah per share.

PT Unilever Indonesia (UNVR IJ), Indonesia’s biggest detergent maker, added 1 percent to 15,800 rupiah, on course for the largest increase since Oct. 24. The company reported nine- month net income of 3.03 trillion rupiah, up from 2.55 trillion rupiah the same period a year earlier, it said in a statement to the stock exchange.

--Editor: Shiyin Chen

To contact the reporter on this story: Femi Adi in Jakarta at fadi1@bloomberg.net; Chan Tien Hin in Kuala Lumpur at thchan@bloomberg.net

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


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