Bloomberg News

Bumi Resources, Garuda, Intraco Penta: Indonesia Equity Preview

February 12, 2012

Feb. 13 (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 fell 1.7 percent to 3,912.39.

Nickel producers: Nickel futures retreated 3.8 percent to $20,705 a metric ton in London on Feb. 10, the most since Dec. 14. PT Vale Indonesia (INCO IJ), the nation’s biggest producer of the metal, dropped 4 percent to 3,650 rupiah and PT Aneka Tambang (ANTM IJ), the second largest, declined 2.6 percent to 1,860 rupiah.

PT Bank Negara Indonesia (BBNI IJ): Indonesia’s third- biggest state-owned bank by assets expects profit to rise 25 percent and lending to grow by 18 percent to 22 percent this year, Bisnis Indonesia reported, citing Finance Director Yap Tjay Soen. Bank Negara fell 4.2 percent to 3,450 rupiah.

PT Bumi Resources (BUMI IJ): Bumi Plc’s shareholder Bakrie Group may reconsider a bid to replace the coal producer’s management, including billionaire Nathaniel Rothschild, should its independent directors offer a solution that “makes sense,” Chris Fong, a spokesman to the group, said. Bumi owns 29 percent of Bumi Resources. The stock declined 3 percent to 2,400 rupiah.

PT Garuda Indonesia (GIAA IJ): The national flag carrier will add 25 Bombardier Inc. regional jets to tap growth in smaller islands in the country, Chief Executive Officer Emirsyah Satar said today in a Bloomberg TV interview in Singapore. Garuda lost 1.6 percent to 620 rupiah.

PT Intraco Penta (INTA IJ): The heavy equipment seller’s revenue may rise 40 percent to 4 trillion rupiah ($443 million) this year, Bisnis Indonesia reported, citing Finance Director Fred Lopez Manibog. The company’s heavy equipment sales may rise 27 percent to 2,000 units this year, the report said. Intraco declined 1.3 percent to 760 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


Best LBO Ever
LIMITED-TIME OFFER SUBSCRIBE NOW
 
blog comments powered by Disqus