Bloomberg News

Bumi Resources, Indocement, Indosat: Indonesia Equity Preview

March 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 0.2 percent to 4,031.71.

PT Bumi Resources (BUMI) : Shareholder Bumi Plc approved changes to its management, the Wall Street Journal reported, citing two people familiar with the matter. Indra Bakrie will step down as chairman and will be succeeded by Samin Tan, the report said. Nathaniel Rothschild will give up his position as co-chairman, it said. Bumi Resources, the nation’s biggest coal producer in which Bumi owns a 29 percent stake, declined 2.1 percent to 2,375 rupiah.

PT Indocement Tunggal Prakarsa (INTP) : Indonesia’s second-largest cement maker may spend as much as $2.6 billion to increase output capacity to 30 million tons a year from 18.6 million tons, Investor Daily Indonesia reported, citing Tju Lie Sukanto, a director. The stock fell 0.3 percent to 18,200 rupiah.

PT Indosat (ISAT) : The mobile phone operator plans to sell at least 1 trillion rupiah ($109 million) of bonds in the first half this year, Bisnis Indonesia reported, citing an unidentified person. Indosat fell 1.9 percent to 5,050 rupiah.

PT Medco Energi Internasional (MEDC) : Indonesia’s biggest listed oil company said 2011 net income rose to $85.1 million from $83.1 million a year earlier. The mean estimate was $39 million, according to a Bloomberg News survey of six analysts. Medco dropped 2.4 percent to 2,075 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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