Bloomberg News

Astra Agro, Bank Negara, Tiga Pilar: Indonesian Equity Preview

April 17, 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 rose 0.3 percent to 4,157.37.

Coal producers: Indonesia doesn’t plan to impose a duty on coal exports, Thamrin Sihite, director general of minerals and coal at the energy and mineral resources ministry, said. PT Bumi Resources (BUMI) , Asia’s largest exporter of power-station coal, fell 1.2 percent to 2,075 rupiah and PT Adaro Energy (ADRO) , Indonesia’s second-biggest coal mining company, slipped 0.6 percent to 1,810 rupiah.

Energy companies: Crude oil futures gained to a two-week high, rising 1.2 percent to $104.20 a barrel in New York yesterday. Oil was last at $104.34. PT Medco Energi Internasional (MEDC) , Indonesia’s largest listed oil company, was unchanged at 2,075 rupiah and PT Energi Mega Persada (ENRG) , the second biggest, gained 2.7 percent to 190 rupiah.

PT Astra Agro Lestari (AALI) : Indonesia’s largest listed plantation company by market value said first-quarter revenue declined 6.5 percent from a year earlier to 2.58 trillion rupiah ($281 million) because its average selling price of crude palm oil fell. Astra Agro climbed 0.7 percent to 23,200 rupiah.

PT Bank Danamon Indonesia (BDMN) : The bank that is the takeover target of Singapore-based DBS Group Holdings Ltd., said first-quarter net income rose 18 percent from a year earlier to 900 billion rupiah, bolstered by lending growth. Bank Danamon fell 0.8 percent to 6,250 rupiah.

PT Bank Negara Indonesia (BBNI) : The nation’s third- biggest state-owned bank appointed Deutsche Bank AG and Credit Suisse Group AG to help arrange the sale of $500 million of global bonds, Bisnis Indonesia reported, citing Finance Director Yap Tjay Soen. Bank Negara Indonesia will start offering the debt next week, the report said. The stock rose 1.3 percent to 3,925 rupiah.

PT Tiga Pilar Sejahtera Food (AISA) : The noodle maker expects sales to rise 88 percent this year to 3.3 trillion rupiah and net income to increase to 212 billion rupiah, led by revenue from its food and rice businesses, Kontan reported, citing Finance Director Sjambiri Lioe. Tiga Pilar gained 3.5 percent to 600 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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