Bloomberg News

Indonesian Stocks: AKR Corporindo, Aneka, Hero, Panin Financial

March 26, 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 slid 0.2 percent to 4,031.71. The market was closed on March 23 for a public holiday.

Nickel producers: PT Vale Indonesia (INCO) , the nation’s biggest producer of the metal, fell 2.2 percent to 3,300 rupiah. PT Aneka Tambang (ANTM) , the second-largest, dropped 1.7 percent to 1,770 rupiah. Nickel futures slid 1.5 percent to $18,175 a metric ton in London on March 23, declining for a third day to the lowest level since Dec. 28.

PT AKR Corporindo (AKRA) , a distributor of fuel and chemicals, rose 2.6 percent to 4,025 rupiah. AKR’s 2011 net income surged to 2.3 trillion rupiah ($250 million) from 310.9 billion rupiah a year earlier after posting a 1.7 trillion rupiah extraordinary gain, AKR said. The mean estimate was 1.67 trillion rupiah, according to a Bloomberg News survey of 11 analysts.

PT Hero Supermarket (HERO) , a supermarket operator, jumped 8.4 percent to 19,400 rupiah, the highest close since at least Feb. 17, 1992. The company said today it has signed a franchise agreement with Inter Ikea Systems BV to open and operate Ikea stores from 2014 to 2021. Hero has an option to increase the number of outlets after the term ends, it said in a statement.

PT Panin Financial (PNLF) , an insurance company, climbed 1.4 percent to 143 rupiah, the highest close since Feb. 23. Panin Financial’s 2011 net income increased to 925 billion rupiah from 745 billion rupiah a year earlier.

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


Cash Is for Losers
LIMITED-TIME OFFER SUBSCRIBE NOW
 
blog comments powered by Disqus