Bloomberg News

Indonesia Stock Movers: Astra International, Berau Coal, Medco

February 28, 2012

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 1.1 percent to 3,903.56, its first gain in five days.

Energy companies: PT Medco Energi Internasional (MEDC) , Indonesia’s biggest listed oil company, gained 1.1 percent to 2,300 rupiah. Oil for April delivery in New York fell as much as 0.7 percent to $107.84 a barrel in electronic trading and was at $108.46 a barrel at 4 p.m. Singapore time. Futures retreated 1.1 percent to $108.56 a barrel yesterday, snapping the longest winning streak since January 2010.

PT Astra International (ASII) , Indonesia’s largest automotive retailer, rose 1.6 percent to 69,800 rupiah. Astra said 2011 net income rose 24 percent from a year earlier to 17.79 trillion rupiah ($1.9 billion). That compares with the median estimate of 17.43 trillion rupiah in a Bloomberg News survey of 20 analysts. Astra will propose a 10-for-1 stock split at its shareholders meeting in April or May, it also said.

PT Berau Coal Energy (BRAU) , an Indonesian coal mining company, advanced 1.1 percent to 480 rupiah, the first gain in four days. Berau will increase its capital expenditure to $691 million until 2014 from the current target of as much as $475 million, Investor Daily Indonesia reported, citing President Director Rosan Perkasa Roeslani. A call to the company’s office wasn’t answered.

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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