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Indonesia Stocks: Astra Agro, Bakrie, Bank Negara, Delta Dunia

Indonesia’s Jakarta Composite index fell 63.04 points, or 1.7 percent, to 3,678.19 as of the 4 p.m. local-time close, the first drop in five days.

Nickel producers: PT International Nickel Indonesia (INCO IJ), the nation’s largest producer of the metal, declined 2.1 percent to 4,775 rupiah. PT Aneka Tambang (ANTM IJ), the second biggest, lost 1.9 percent to 2,575 rupiah. Nickel for three- month delivery dropped 1.4 percent to $21,300 a metric ton in London today, falling for a second day.

Palm oil producers: PT Astra Agro Lestari (AALI IJ), the nation’s largest plantation stock by market value, declined 3.3 percent to 25,050 rupiah. PT Perusahaan Perkebunan London Sumatra Indonesia (LSIP IJ), the second biggest, retreated 3.4 percent to 11,400 rupiah. Palm oil futures fell the most in 15 months, dropping 4.3 percent to settle at 3,184 ringgit ($1,022) a metric ton in Kuala Lumpur yesterday. The contract slipped 1 percent to 3,153 ringgit today.

PT Bakrie & Brothers (BNBR IJ), an Indonesian investment company, rose 7.1 percent to 75 rupiah. Bakrie may build a $2 billion industrial estate for aluminum and steel producers in East Kutai in the Indonesian part of Borneo, Bisnis Indonesia reported, without saying where it got the information. Bakrie & Brothers Corporate Secretary Sri Dharmayanti couldn’t be reached when called at her office.

PT Bank Negara Indonesia (BBNI IJ), Indonesia’s third- biggest state-owned bank, plunged 5.2 percent to 3,650 rupiah, the sharpest drop since June 18, 2009. Bank Negara plans to sell as many as 3.37 billion new shares at 3,100 rupiah each in a rights offer next month, it said in a statement published in Bisnis Indonesia today. The offer price is “slightly higher” more than the 3,000 rupiah a share forecast by PT Kim Eng Securities, it said in a note. A rights offer may dilute the stake of existing shareholders.

PT Capitalinc Investment (MTFN IJ), which provides financial services, jumped 14 percent to 1,700 rupiah, the highest close since Nov. 5. The company plans to obtain a bank loan to fund $56 million of working capital, dropping an earlier plan for a rights offer, Bisnis Indonesia reported on its website, citing Ong Seng-Hoo, president director at the company. Seng-Hoo couldn’t be reached when called at his office.

PT Delta Dunia Makmur (DOID IJ), an Indonesian mining- services company, advanced 2.7 percent to 1,130 rupiah after plunging 8.3 percent yesterday. Delta’s unit, PT Bukit Makmur Mandiri Utama, may get a $600 million syndicated loan soon to refinance debt and buy back bonds, Bisnis Indonesia reported, citing an unidentified person. Delta Dunia President Director Hagianto Kumala couldn’t be reached when called at his office.

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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