Bloomberg News

Astra, Benakat, Bumi Minerals, Medco: Indonesia Equity Preview

January 02, 2012

Jan. 3 (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 slid 0.3 percent to 3,809.14.

Energy companies: Crude oil futures gained as much as 1.7 percent to $100.57 a barrel in after-hours trading in New York.

PT Medco Energi Internasional (MEDC IJ), Indonesia’s biggest listed oil company, fell 1 percent to 2,400 rupiah and PT Energi Mega Persada (ENRG IJ), the second largest, rose 5.1 percent to 187 rupiah.

PT Astra International (ASII IJ): Indonesia plans to end the sale of subsidized fuel to private cars in the greater Jakarta area in April, the Jakarta Post reported, citing Agus Budihartono, a committee member at BPH Migas, the nation’s regulator for the oil and gas downstream industry. Astra, Indonesia’s biggest automotive retailer, slipped 0.4 percent to 73,700 rupiah.

PT Benakat Petroleum Energy (BIPI IJ): The Indonesian oil and gas producer is considering selling its 27.43 percent stake in PT Java Mitra Sentosa, which owns a coal mining company in East Kalimantan province, Investor Daily Indonesia reported, citing a person it didn’t identify. Benakat fell 2.4 percent to 200 rupiah.

PT Bumi Resources (BUMI IJ): Indonesia’s largest coal producer plans to sell shares in PT Bumi Resources Minerals (BRMS IJ) and is looking for a strategic partner to develop the unit’s mines, Investor Daily Indonesia reported, citing Bumi Resources Director Dileep Srivastava. Bumi Resources gained 1.2 percent to 2,200 rupiah and Bumi Minerals was unchanged at 530 rupiah. Srivastava wasn’t in the office when called before business hours, and a call and text message to his mobile phone weren’t immediately answered.

--Editor: Greg Ahlstrand

To contact the reporter on this story: Berni Moestafa in Jakarta at

To contact the editor responsible for this story: Darren Boey at

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