Bloomberg News

Borneo Lumbung, Bumi Serpong, Medco: Indonesian Equity Preview

June 03, 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 0.9 percent to 3,799.77.

Energy companies: Crude oil for July delivery declined 3.8 percent to $83.23 a barrel in New York on June 1, the lowest settlement price since Oct. 7. The contract was last at $82.30 in after-hours trading. PT Medco Energi Internasional (MEDC) , Indonesia’s biggest listed oil company, slipped 0.6 percent to 1,800 rupiah and PT Energi Mega Persada (ENRG) , the second largest, sank 5.5 percent to 138 rupiah.

PT Bank Internasional Indonesia (BNII) : The company’s financing unit, PT BII Finance Center, plans to sell 625 billion rupiah ($66 million) of bonds today and has appointed PT NISP Sekuritas to help arrange the sale, the unit said in a prospectus published in Bisnis Indonesia. Bank Internasional Indonesia, a unit of Malayan Banking Bhd., Malaysia’s biggest bank, lost 2.2 percent to 445 rupiah.

PT Borneo Lumbung Energi & Metal (BORN) : The coal producer will repay $120 million of loans to lenders including Standard Chartered Plc this year, Investor Daily Indonesia reported, citing directors Eva Tarigan and Kenneth Allan. Borneo Lumbung plans to increase coal output to 15 million tons by 2016, the report said. The stock declined 3.1 percent to 630 rupiah.

PT Bumi Serpong Damai (BSDE) : The property developer will offer 1.5 trillion rupiah of bonds and plans to use 70 percent of the proceeds to develop its BSD City property, the company said in a prospectus published in Investor Daily Indonesia today. Bumi Serpong fell 3.3 percent to 1,160 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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