Bloomberg News

Adaro, Intiland, Surya Esa Perkasa: Indonesian Equity Preview

February 01, 2012

Feb. 2 (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 0.6 percent to 3,964.98.

Energy companies: Crude oil futures fell to a six-week low, losing 0.9 percent to $97.61 a barrel in New York yesterday. Oil was last at $97.58 a barrel. PT Medco Energi Internasional (MEDC IJ), Indonesia’s biggest listed oil company, dropped 2.2 percent to 2,275 rupiah and PT Energi Mega Persada (ENRG IJ), the second largest, rose 1.5 percent to 200 rupiah.

PT Adaro Energy (ADRO IJ): Indonesia’s second-biggest coal producer expects net income to rise to $621 million this year from an estimated $550 million to $580 million in 2011, Bisnis Indonesia reported, citing President Director Garibaldi Thohir. Adaro advanced 2.2 percent to 1,870 rupiah.

PT Intiland Development (DILD IJ): The property developer plans to spend as much as 1.4 trillion rupiah ($156 million) this year to fund new projects, Investor Daily reported, citing Corporate Secretary Theresia Rustandi. Intiland gained 4 percent to 260 rupiah.

PT Sierad Produce (SIPD IJ): The Indonesian chicken breeder and poultry feed producer plans to spend 500 billion rupiah this year to build a breeding farm in Banten province in West Java, a hatchery and four commercial farms, Kontan reported, citing Corporate Secretary Elies Lestari Setiawan. Sierad was unchanged at 56 rupiah.

PT Surya Esa Perkasa (ESSA IJ): The liquefied petroleum producer that began trading yesterday expects net income to rise 15 percent to 92 billion rupiah this year from an estimated 80 billion rupiah in 2011 on higher sales of the fuel, Bisnis Indonesia reported, citing President Director Garibaldi Thohir. Surya Esa jumped 49 percent to 910 rupiah.

--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


American Apparel's Future
LIMITED-TIME OFFER SUBSCRIBE NOW

(enter your email)
(enter up to 5 email addresses, separated by commas)

Max 250 characters

 
blog comments powered by Disqus