Bloomberg News

Indonesian Stocks: Agung Podomoro, Bakrie Sumatera, Ramayana

July 13, 2012

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

The Jakarta Composite Index (JCI) rose 0.9 percent to 4,019.67. The gauge fell 0.9 percent this week, the first loss in four weeks.

Palm oil producers: PT Astra Agro Lestari (AALI) , the nation’s largest plantation stock by market value, advanced 2.6 percent to 23,300 rupiah, its highest close since April 3. PT Bakrie Sumatera Plantations (UNSP) rose 1.1 percent to 192 rupiah. Palm oil futures added as much as 1.2 percent to 3,048 ringgit ($952) a metric ton in Kuala Lumpur, heading for the first gain in four days.

PT Agung Podomoro Land (APLN) , a property developer, increased 1.5 percent to 335 rupiah. Agung Podomoro bought a 51 percent stake in PT Bali Perkasa Sukses, Investor Daily Indonesia reported, citing President Director Trihatma Kusuma Haliman. Bali Perkasa owns land on which Agung Podomoro plans to build a four- or five-star hotel in Bali. The company may also sell 800 billion rupiah ($84 million) of bonds in July, the report said. Haliman couldn’t be reached when called at his office.

PT Ramayana Lestari Sentosa (RALS) , a retail company, rose 1.9 percent to 1,060 rupiah, the highest close since May 10, on expectations Muslims will boost spending during the fasting month which starts next week, according to Armand Dharmasana, an analyst at PT Phillip Securities in Jakarta.

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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