Bloomberg News

Krakatau, Himpunan Saudara, Wijaya: Indonesian Equity Preview

June 11, 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 1.1 percent to 3,866.21.

Energy companies: Crude oil for July delivery fell for a fourth day, losing as much as 2 percent to $81.07 a barrel in after-hours trading in New York. PT Medco Energi Internasional (MEDC) , Indonesia’s biggest listed oil company, gained 4.3 percent to 1,940 rupiah. PT Energi Mega Persada (ENRG) , the second largest, rose 5.8 percent to 145 rupiah.

PT Krakatau Steel (KRAS) : Indonesia’s largest steel producer plans to invest 1.1 trillion rupiah ($116 million) to expand the loading and unloading capacity at its Cigading port to 25 million tons a year from 10 million tons, Investor Daily Indonesia reported, citing President Director Fazwar Bujang. Krakatau Steel climbed 2.8 percent to 740 rupiah.

PT Bank Himpunan Saudara (SDRA) : Woori Bank, a unit of South Korea’s biggest financial group by assets, plans to buy a 33 percent stake in the company, the two banks said in a joint statement in Kontan. Bank Himpunan advanced 1.8 percent to 570 rupiah.

PT Wijaya Karya (WIKA) : The construction company and its two partners received a $183 million contract from PT Chevron Pacific Indonesia to design and build facilities at its North Duri Development oil field on Sumatra island, Kontan reported, citing a tender document. The group will sign the contract before July this year, the report said, citing Corporate Secretary Natal Argawan Pardede. Wijaya advanced 2.1 percent to 980 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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