Indonesia Stocks: Bakrie Sumatera, Bukit Asam, Medco Energi

Indonesia’s Jakarta Composite index rose 42.12 points, or 1.2 percent, to 3,573.33 as of the noon local-time break, the first increase in four days.

PT Bakrie Sumatera Plantations (UNSP IJ), a palm oil and rubber producer, gained 1.4 percent to 375 rupiah. The company plans to sell $200 million of global bonds in the first half of 2011 to refinance debt, Investor Daily Indonesia reported, citing President Director Ambono Janurianto. Corporate Secretary Fitri Barnas didn’t answer a call to his mobile phone.

PT Medco Energi Internasional (MEDC IJ), Indonesia’s biggest listed oil company, fell 3 percent to 3,250 rupiah, set for the lowest close since Sept. 28. PT Pertamina said it dropped a plan to buy a stake in Medco’s controlling shareholder.

PT Tambang Batubara Bukit Asam (PTBA IJ), the state-run coal producer, jumped 6.2 percent to 19,850 rupiah, on course for the steepest increase since Nov. 4. Bukit Asam will pay an interim dividend of 66.75 rupiah per share on Dec. 29, it said in an announcement published in Bisnis Indonesia.

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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