Bloomberg News

Indonesia Stocks: Astra Agro Lestari, Borneo Lumbung, Timah

November 15, 2011

Nov. 15 (Bloomberg) -- Shares of the following companies had unusual moves in Indonesian trading. Stock symbols are in parentheses and prices are as of 9:48 a.m. in Jakarta.

The Jakarta Composite index fell 0.3 percent to 3,822.19.

Palm oil producers: PT Astra Agro Lestari (AALI IJ), the nation’s biggest plantation stock by market value, advanced 3 percent to 22,600 rupiah. PT Perusahaan Perkebunan London Sumatra Indonesia (LSIP IJ), the third-largest, increased 2.2 percent to 2,300 rupiah.

Palm oil imports by China, the world’s biggest edible oil consumer, may gain 5 percent to 6 million metric tons in the 2011-2012 marketing year, state-owned researcher China National Grain & Oils Information Center said in a report today.

PT Borneo Lumbung Energi & Metal (BORN IJ), a producer of coking coal, fell 1.2 percent to 850 rupiah. The company said it plans to spend as much as 650 billion rupiah ($72 million) to buy back 707.7 million shares, or 4 percent of its stock, within 18 months after obtaining approval from shareholders. That’s a share price of about 918 rupiah each, compared with its one-year average of 1,390 rupiah, according to Bloomberg calculation.

PT Timah (TINS IJ), Indonesia’s largest tin producer, lost 1.6 percent to 1,870 rupiah. Tin futures declined 2.1 percent to $21,475 a metric ton in London yesterday.

--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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