Bloomberg News

Indonesia Stock Movers: Borneo Lumbung Energi, Indofood Sukses

January 24, 2012

Jan. 24 (Bloomberg) -- Shares of the following companies had unusual moves in Indonesian trading. Stock symbols are in parentheses, and prices are as of 10:28 a.m. in Jakarta.

The Jakarta Composite index rose 0.6 percent to 4,008.26. The market was closed yesterday for a public holiday

PT Borneo Lumbung Energi & Metal (BORN IJ) gained 1.2 percent to 870 rupiah, after the coal producer said it has completed the purchase of a 23.8 percent stake in Bumi Plc, which owns a stake in Indonesia’s biggest coal mining company, PT Bumi Resources (BUMI IJ). Bumi Resources climbed 1 percent to 2,550 rupiah.

PT Indofood Sukses Makmur (INDF IJ), the parent of the nation’s biggest instant-noodle maker plans, rose 1.6 percent to 4,850 rupiah. Indofood plans to sell 2 trillion rupiah ($223 million) of bonds to refinance debt, Investor Daily Indonesia reported, citing Werianty Setiawan, corporate secretary at the company. Setiawan didn’t return a call to her mobile phone.

--Editor: Richard Frost

To contact the reporter on this story: Berni Moestafa in Jakarta at bmoestafa@bloomberg.net

To contact the editor responsible for this story: Richard Frost at rfrost4@bloomberg.net


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