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Indonesian Stocks: Adaro, Garuda, Intiland, Surya Esa Perkasa

February 02, 2012

Feb. 2 (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 1.3 percent to 4,016.90, the highest close since Aug. 18.

PT Adaro Energy (ADRO IJ), Indonesia’s second-biggest coal producer, advanced 4.8 percent to 1,960 rupiah, the steepest increase since Oct. 19. Adaro 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. The net income reported by the media today was misquoted, Adaro said in a statement to the exchange.

PT Garuda Indonesia (GIAA IJ), the national flag carrier, jumped 8.6 percent to 630 rupiah, a record close. The airline is in final talks with Bombardier Inc. on an order for 18 to 25 regional jets, Garuda Chief Financial Officer Elisa Lumbantoruan said today by phone.

PT Intiland Development (DILD IJ), a property developer, rose 3.9 percent to 270 rupiah. The company plans to spend as much as 1.4 trillion rupiah ($156 million) this year on new projects, Investor Daily reported, citing Corporate Secretary Theresia Rustandi. Rustandi couldn’t be reached when called at her office.

PT Sierad Produce (SIPD IJ), a chicken breeder and poultry feed producer, gained 3.6 percent to 58 rupiah, closing at its highest since Nov. 14. The company plans to spend 500 billion rupiah this year on new farms, Kontan reported, citing Elies Lestari Setiawan, the company’s corporate secretary. Setiawan couldn’t be reached when called at her office.

PT Surya Esa Perkasa (ESSA IJ), a liquefied petroleum producer, surged 13 percent to 1,030 rupiah, extending a 49 percent jump on its trading debut yesterday. Surya expects net income to rise 15 percent to 92 billion rupiah this year, from an estimated 80 billion rupiah in 2011, on higher sales, Bisnis Indonesia reported, citing Garibaldi Thohir, president director at the company. Thohir couldn’t be reached when called at his office.

--Editor: Chan Tien Hin

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

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

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