Bloomberg News

Indonesian Stock Movers: Bumi, BW Plantation, London Sumatra

June 21, 2012

Shares of the following companies had unusual moves in Indonesian trading. Stock symbols are in parentheses and prices are as of the noon Jakarta-time break.

The Jakarta Composite Index (JCI) fell 1 percent to 3,906.15, on course for the first drop in five days.

Bakrie Group-related stocks: PT Bumi Resources (BUMI) , Indonesia’s biggest coal producer, gained 4.3 percent to 1,210 rupiah. PT Bakrie Sumatera Plantations (UNSP) advanced 2.2 percent to 188 rupiah.

PT Bakrie & Brothers (BNBR), an investment company that owns shares in Bumi and Bakrie Sumatera, expects to settle its debt to MSN Tara Ltd. and Interventures Capital Pte. before August, instead of the end of May as initially planned, Bisnis Indonesia reported, citing Finance Director Eddy Soeparno. Bakrie repaid 1.54 trillion rupiah ($163 million) of the 2.11 trillion rupiah it owes MSN Tara and Interventures using shares in its units held as collateral, the report said. Two calls to Bakrie’s office weren’t answered.

Energy companies: PT Medco Energi Internasional (MEDC) , the nation’s biggest listed oil company, declined 1.7 percent to 1,790 rupiah. PT Benakat Petroleum Energy (BIPI) slipped 1.1 percent to 188 rupiah. Crude oil for July delivery fell $2.23 to $81.80 a barrel in New York yesterday, the lowest settlement since Oct. 5.

Palm oil producers: PT Perusahaan Perkebunan London Sumatra Indonesia (LSIP IJ) dropped 1 percent to 2,575 rupiah and PT BW Plantation (BWPT) lost 2.7 percent to 1,440 rupiah. Palm oil futures fell as much as 1.8 percent to 2,986 ringgit ($941) a metric ton in Kuala Lumpur, the first drop in four days.

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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