Bloomberg News

Astra International, Elnusa, Garuda: Indonesia Equity Preview

December 30, 2011

Dec. 20 (Bloomberg) -- Shares of the following companies may have unusual moves in Indonesian trading. Stock symbols are in parentheses, and share prices are as of the previous close.

The Jakarta Composite index rose 0.1 percent to 3,770.29.

PT Astra International (ASII IJ): Indonesia’s largest automotive retailer plans to spend 2 trillion rupiah ($219 million) on toll roads in Java next year, Bisnis Indonesia reported, citing Director Angky Tisnadisastra. Astra gained 1.4 percent to 72,150 rupiah.

PT Elnusa (ELSA IJ): The oil services company obtained a syndicated loan of $113 million from a group of banks led by PT Bank Central Asia (BBCA IJ) to refinance debt, Bisnis Indonesia reported, citing corporate secretary Heru Samodra. Elnusa fell 2.1 percent to 230 rupiah and Bank Central Asia, Indonesia’s biggest lender by market value, slid 0.6 percent to 7,950 rupiah.

PT Garuda Indonesia (GIAA IJ): The Indonesian state-owned carrier allocated $5.3 billion for capital expenditures over five years for fleet maintenance and rejuvenation, Chief Financial Officer Elisa Lumbantoruan said. Garuda expects passenger traffic to rise 20 percent in 2012 from an estimated 17 million people this year, Lumbantoruan said. The stock was unchanged at 425 rupiah.

--Editor: Greg Ahlstrand

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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