Bloomberg News

Adaro, Wijaya Karya, United Tractors: Indonesian Equity Preview

July 02, 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 0.9 percent to 3,991.54.

Coal producers: Thermal coal at the Australian port of Newcastle rose 4.4 percent to $86.75 a metric ton in the week ended June 29, the first gain in 12 weeks, according to IHS McCloskey, a Petersfield, U.K.-based provider of coal data.

PT Bumi Resources (BUMI) , Asia’s largest thermal coal exporter, gained 4.5 percent to 1,160 rupiah and PT Adaro Energy (ADRO) , Indonesia’s second-biggest coal producer, jumped 7.6 percent to 1,560 rupiah.

PT United Tractors (UNTR) : Indonesia’s largest heavy equipment seller cut its sales target to 8,500 units this year from its initial estimate of 9,500 units as a downtrend in coal prices may reduce demand from mining companies, Investor Daily Indonesia reported, citing Corporate Secretary Sara K. Loebis. The company sold 8,467 units of Komatsu heavy equipment last year, the report said. United Tractors advanced 2.3 percent to 21,850 rupiah.

PT Wijaya Karya (WIKA) : The builder got 566 billion rupiah ($60 million) of toll-road construction contracts for projects in East Java and West Java provinces, Investor Daily Indonesia reported, citing Corporate Secretary Natal Argawan Pardede. Wijaya Karya fell 1 percent to 1,040 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


Cash Is for Losers
LIMITED-TIME OFFER SUBSCRIBE NOW
 
blog comments powered by Disqus