Bakrie Telecom, Mayora Indah, Timah: Indonesia Equity Preview

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 gained 1 percent to 3,442.50.

Metal producers: Nickel for three-month delivery added 2.4 percent to $27,995 a metric ton in London yesterday, the highest close since May 2008. Tin advanced for a ninth straight day, gaining 0.2 percent to $30,155 a ton.

PT International Nickel Indonesia (INCO IJ), the nation’s biggest producer of the metal, rose 4.9 percent to 4,825 rupiah and PT Timah (TINS IJ), Indonesia’s largest tin producer, gained 2.7 percent to 2,825 rupiah.

PT Bakrie Telecom (BTEL IJ): The mobile-phone operator allocated $200 million for capital expenditure this year, Bisnis Indonesia reported, citing Deputy President Director Erik Meijer. The company targets 8 million new customers this year to bring its total to 20 million, the newspaper cited Meijer as saying. Bakrie Telecom dropped 4.6 percent to 210 rupiah.

PT Mayora Indah (MYOR IJ): The biscuit maker plans to build two factories at Tangerang-Banten to increase output capacity by 30 percent, Investor Daily reported, citing Director Hermawan Lesmana. The projects will cost about 700 billion rupiah ($77.7 million), and will be funded from internal cash and bank loans, the newspaper cited Lesmana as saying. Mayora rose 1.5 percent to 10,250 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

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