Bloomberg News

Indonesian Stock Movers: Astra International, Bank Negara, Bumi

February 13, 2012

Feb. 13 (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 3,961.90, the steepest increase since Feb. 2.

PT Astra International (ASII IJ), Indonesia’s largest automotive retailer, advanced 3 percent to 73,350 rupiah, the biggest gain since Dec. 16. The stock’s 9.6 percent drop last week was seen as excessive, according to Leonardo Henry Gavaza, an analyst at PT Bahana Securities.

PT Bank Negara Indonesia (BBNI IJ), the nation’s third- biggest state-owned bank by assets, rose 2.9 percent to 3,550 rupiah. The company 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. Corporate Secretary Tribuana Tunggadewi didn’t return a call to her mobile phone.

PT Bumi Resources (BUMI IJ), Indonesia’s largest coal producer, gained 3.1 percent to 2,475 rupiah. 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.

--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


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