Bloomberg News

Indonesia Stocks Movers: Astra Agro, Astra International, Gresik

March 13, 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 (JCI) rose 0.5 percent to 4,008.64, the highest close since Feb. 3.

PT Astra Agro Lestari (AALI) , Indonesia’s biggest plantation company by market value, rose 2.3 percent to 22,700 rupiah, the highest close since Feb. 17. Palm oil futures rose as much as 1.2 percent to 3,358 ringgit ($1,106) a metric ton in Kuala Lumpur after dropping 1 percent yesterday.

PT Astra International (ASII) , Indonesia’s largest automotive retailer, climbed 1.2 percent to 70,600 rupiah, the most since Feb. 29. Honda Motor Corp. will invest 3.13 trillion rupiah ($342 million) to build a motorcycle plant in Indonesia, with operations to start in 2013, Honda said on its Indonesian website. Astra sells Honda motorcycles.

PT Semen Gresik (SMGR) , the nation’s biggest cement producer, rose 1.8 percent to 11,500 rupiah, the highest close since Feb. 17. Semen Gresik plans to a build a plant in Myanmar this year with an output capacity of 1.5 million tons to 2.5 million tons and at a cost of $300 million to $500 million, Investor Daily Indonesia reported, citing Ahyanizzaman, finance director at the company. Ahyanizzaman couldn’t be reached when called at his office in Gresik, East Java.

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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