Bloomberg News

Sinar Mas Agro, Borneo Lumbung, Medco: Indonesia Equity Preview

June 04, 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 3.8 percent to 3,654.58.

Energy companies: Crude oil for July delivery rose for the first time in five days, adding 0.9 percent to $83.98 a barrel in New York yesterday. The contract was last at $84.81 in after- hours trading. PT Medco Energi Internasional (MEDC) , the nation’s biggest listed oil company, sank 7.8 percent to 1,660 rupiah and PT Energi Mega Persada (ENRG) , the second largest, tumbled 12 percent to 122 rupiah.

PT Borneo Lumbung Energi & Metal (BORN) : The coal mining company’s first-quarter net income fell to $11.96 million from $47.86 million a year ago while sales slid to $122.61 million from $135.11 million, it said in a filing to the stock exchange. Borneo declined 9.5 percent to 570 rupiah.

PT Sinar Mas Agro Resources and Technology (SMAR IJ): the nation’s second-largest listed plantation company by market value expects palm oil output to rise as much as 10 percent this year, Bisnis Indonesia reported, citing Director Jimmy Pramono. The company plans to invest as much as $40 million to add new land in Kalimantan, the report said. Sinar Mas Agro dropped 8.6 percent to 6,400 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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