Bloomberg News

Indonesian Stocks: Citra Marga, Holcim Indonesia, London Sumatra

April 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 4,159.28, paring this week’s drop to 0.2 percent, the first weekly decline in five.

PT Citra Marga Nusaphala Persada (CMNP) , a tollroad operator, advanced 3.4 percent to 2,275 rupiah. The company will build a 100-kilometer (62-mile) road in South Sumatra to transport coal from mining areas in the province. The road will cost an estimated 7 trillion rupiah ($764 million), the Jakarta Post reported, citing Hudaya Arryanto, operation director at the company. Arryanto couldn’t be reached when called at his office.

PT Holcim Indonesia (SMCB) , the nation’s third-largest cement producer, gained 2 percent to 2,500 rupiah, the highest close since April 3. Shareholders approved today a final dividend payout of 55 rupiah a share, said Jannus Hutapea, a director at the company.

PT Perusahaan Perkebunan London Sumatra Indonesia (LSIP) , the nation’s second-biggest plantation stock by market value, jumped 6.8 percent to 3,125 rupiah, a record close. Macquarie Group Ltd. raised its share-price estimate to 3,415 rupiah from 2,930 rupiah, saying London Sumatra is its preferred plantation pick among Indonesian-listed companies.

PT Semen Gresik (SMGR) , Indonesia’s largest cement producer, rose 1.2 percent to 12,300 rupiah. Semen Gresik plans to build two plants at an estimated investment of 7 trillion rupiah, Bisnis Indonesia reported, citing President Director Dwi Soetjipto. Construction may start in 2013 if the company obtains the permits this year, according to the report. Soetjipto couldn’t be reached when called at his office in Jakarta.

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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