Bloomberg News

Indonesian Stocks: Akasha Wira, Bumi, Medco, Perusahaan Gas

May 10, 2012

Shares of the following companies had unusual moves in Indonesian trading. Stock symbols are in parentheses and prices are as of the 4 p.m. close in Jakarta.

The Jakarta Composite Index (JCI) rose 0.1 percent to 4,133.63.

Energy companies: Crude futures fell for a seventh day, set for the longest losing streak since December 2009. Oil dropped as much as 0.5 percent to $96.29 a barrel in New York.

PT Energi Mega Persada (ENRG) , Indonesia’s second- biggest listed oil company, declined 1.1 percent to 182 rupiah. PT Bumi Resources (BUMI) , Asia’s biggest exporter of power- station coal, retreated 1.1 percent to 1,860 rupiah, the lowest close since Oct. 5.

PT Akasha Wira International (ADES) , a producer of bottled drinking water, jumped 12 percent to 1,490 rupiah, extending yesterday’s 24 percent rally. Net income more than tripled to 13.45 billion rupiah ($1.45 million) from 3.54 billion rupiah a year earlier, the company said after the market closed on May 8.

PT Lippo Karawaci (LPKR) , a property developer, dropped 1.2 percent to 800 rupiah. The company sold $150 million of 7 percent notes due May 2019, according to data compiled by Bloomberg. The bonds were issued at 99.32 cents on the dollar, the data show.

PT Medco Energi Internasional (MEDC) , Indonesia’s biggest listed oil company, climbed 1.2 percent to 2,125 rupiah. Medco will form a group with PT Perusahaan Gas Negara (PGAS) , Indonesia’s biggest gas distributor, and PT Pupuk Sriwijaya to buy a stake in a gas block in Aceh province previously operated by Exxon Mobil Corp., Medco President Director Lukman Mahfoedz said. Gas Negara gained 1.4 percent to 3,700 rupiah.

To contact the reporter on this story: Anuchit Nguyen in Bangkok at anguyen@bloomberg.net

To contact the editor responsible for this story: Darren Boey at dboey@bloomberg.net


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