Bloomberg News

Indonesian Stock Movers: Agung Podomoro, Medco Energi, Ramayana

July 17, 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) rose 0.6 percent to 4,070.67, heading for a third day of gains.

PT Agung Podomoro Land (APLN) , a property developer, advanced 1.5 percent to 350 rupiah after it said it plans to sell 800 billion rupiah ($84 million) of five-year bonds next month to fund expansions.

PT Medco Energi Internasional (MEDC) , the nation’s biggest listed oil company, advanced 1.7 percent to 1,770 rupiah. Crude-oil futures rose 1.5 percent to $88.43 a barrel in New York yesterday, gaining for a fourth day in the longest winning streak since a six-day rally ended April 27. Oil was at $88.51 in after-hours trading.

PT Ramayana Lestari Sentosa (RALS) , a retailer, gained 4.5 percent to 1,170 rupiah, bound for a record close. The company’s first-half revenue increased to 3.07 trillion rupiah, exceeding its target of 2.95 trillion rupiah, Bisnis Indonesia reported, citing Setyadi Surya, a director at Ramayana. Surya hasn’t replied to a mobile-phone text message seeking confirmation.

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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