Bloomberg News

Bank Rakyat, Garuda, Telkom, Timah: Indonesian Equity Preview

April 24, 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 (JCI) rose 0.4 percent to 4,170.35.

PT Bank Rakyat Indonesia (BBRI) : Indonesia’s second- largest bank by assets said it agreed to provide a 225 billion rupiah ($24.5 million) loan to PT Indonusa Telemedia, a unit of PT Telekomunikasi Indonesia (TLKM) . Telkom Vision, as the unit is known, will use the loan for capital expenditure this year, including buying equipment for its pay-television business, the bank said. Bank Rakyat declined 1.4 percent to 6,900 rupiah and Telekomunikasi, Indonesia’s biggest telephone company, rose 1.9 percent to 7,950 rupiah.

PT Garuda Indonesia (GIAA) : The national flag carrier plans to start direct flights to Italy in 2014, the Jakarta Post reported, citing President Director Emirsyah Satar. The airline also plans to start direct flights to Germany, France and U.K., the report said, without providing a timeframe. Garuda jumped 6.4 percent to 670 rupiah.

PT Timah (TINS) : Tin futures climbed 2 percent to $21,675 a metric ton in London yesterday, the steepest increase since April 5. Timah, Indonesia’s biggest producer of the metal, rose 1.7 percent to 1,810 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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