Bloomberg News

Indonesia Stocks: Gas Negara, Hexindo Adiperkasa, Surya Esa

February 01, 2012

Feb. 1 (Bloomberg) -- Shares of the following companies had unusual moves in Indonesian trading. Stock symbols are in parentheses and prices are as of the close in Jakarta.

The Jakarta Composite index rose 0.6 percent to 3,964.98, gaining for a second day.

PT Adaro Energy (ADRO IJ), Indonesia’s second-biggest coal producer, climbed 2.2 percent to 1,870 rupiah, the highest close since Dec. 13. The company’s 2011 coal output rose 13 percent from a year earlier to 47.7 million metric tons, Adaro said in an e-mailed statement.

PT Perusahaan Gas Negara (PGAS IJ), Indonesia’s largest gas distributor, fell 1.5 percent to 3,325 rupiah, the lowest close since Jan. 18. The company’s net income fell last year to about 6 trillion rupiah ($665 million) from 6.24 trillion rupiah in 2010 because of foreign-exchange losses and a drop in gas sales volume, Kontan reported, citing Heri Yusup, corporate secretary at the company. Yusup couldn’t be reached when called at his office.

PT Hexindo Adiperkasa (HEXA IJ), the Indonesian unit of Hitachi Construction Machinery Co., rose 1.6 percent to 9,750 rupiah, a record close, after reporting net income in the third quarter ending Dec. 31 jumped 60 percent from a year earlier to $48.2 million.

PT Surya Esa Perkasa (ESSA IJ), an Indonesian producer of liquefied petroleum gas, surged 49 percent to 910 rupiah on its first trading day after raising 152.5 billion rupiah in an initial public offering last week to develop its refinery and to repay debt.

--Editor: Matthew Oakley

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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