Bloomberg News

Bumi Resources, Agung Podomoro, Minna: Indonesia Equity Preview

January 08, 2012

Jan. 9 (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 0.9 percent to 3,869.42.

Coal producers: Power-station coal prices at Australia’s Newcastle port, an Asian benchmark, fell 1 percent to $114.30 a metric ton in the week ended Jan. 6, according to the globalCOAL NEWC Index. PT Bumi Resources (BUMI IJ), Asia’s largest exporter of power-station coal, dropped 1.1 percent to 2,325 rupiah and PT Adaro Energy (ADRO IJ), Indonesia’s second-biggest coal producer, fell 1.1 percent to 1,770 rupiah.

PT Agung Podomoro Land (APLN IJ): The property developer’s net income may have jumped to 550 billion rupiah ($59.8 million) from 241.9 billion rupiah a year earlier, Investor Daily Indonesia reported, citing Finance Director Cesar Dela Cruz. Agung Podomoro was unchanged at 355 rupiah.

PT Bumi Serpong Damai (BSDE IJ): The property developer has allocated 200 billion rupiah for land acquisitions and is considering purchasing land in Surabaya in Indonesia’s East Java province, Samarinda in East Kalimantan and on Sumatra island, Bisnis Indonesia reported, citing Director Hermawan Wijaya. Bumi Serpong rose 1 percent to 1,010 rupiah.

PT Minna Padi Investama (PADI IJ): The financial services company will start trading today after raising 118.5 billion rupiah in an initial public offering last week to strengthen its working capital structure and to fund expansion.

--Editor: Chan Tien Hin

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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