Bloomberg News

Garuda Indonesia, Medco Energi, Timah: Indonesia Equity Preview

February 26, 2012

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 1.6 percent to 3,894.56.

Energy companies: Crude oil closed above $109 a barrel for the first time in almost 10 months, adding 1.8% to $109.77 in New York on Feb. 24. Oil was last at $109.57 a barrel.

PT Medco Energi Internasional (MEDC) , Indonesia’s biggest listed oil company, fell 2.2 percent to 2,250 rupiah. PT Energi Mega Persada (ENRG) retreated 1 percent to 193 rupiah.

PT Bumi Resources (BUMI) : Indonesia’s biggest coal producer and its partners won a bid to build a mine-mouth power plant with capacity to generate 600 megawatts of electricity at the site of its PT Pendopo Energi Batubara unit in South Sumatra, Dileep Srivastava, a director at Bumi said. Bumi fell 3 percent to 2,425 rupiah.

PT Garuda Indonesia (GIAA) (GIAA IJ): The national flag carrier expects to carry 35 million passengers by 2015 and the company may have at least 154 planes by that year to support the target, Bisnis Indonesia reported, citing Chief Executive Officer Emirsyah Satar. Garuda currently has 89 planes, the report said. The stock fell 5 percent to 570 rupiah.

PT Timah (TINS) : Tin for three-month delivery fell 1.4 percent to $23,850 a metric ton in London on Feb. 24. Timah, Indonesia’s biggest producer of the metal, declined 1.5 percent to 1,970 rupiah.

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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