Bumi, Gas Negara, Mitrabahtera Segara: 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 (JCI) rose 1.4 percent to 3,727.8.

Nickel producers: Nickel for three-month delivery jumped 4 percent to $26,430 a metric ton in London yesterday, the biggest increase since Jan. 12. PT International Nickel Indonesia (INCO IJ), the nation’s largest producer of the metal, climbed 0.5 percent to 4,725 rupiah and PT Aneka Tambang (ANTM IJ), the second biggest, rose 1.1 percent to 2,325 rupiah.

PT Bumi Resources (BUMI IJ): Vallar Plc (VAA) plans to increase its stake in Bumi from 25 percent to 51 percent next month, the Financial Times reported. Bumi, Indonesia’s biggest coal producer, rose 3.2 percent to 3,275 rupiah.

PT Indika Energy (INDY IJ): The services provider to the coal and power generation sectors bought a 51 percent stake in PT Mitrabahtera Segara Sejati (MBSS IJ), Indika said in an e- mailed statement last night. Indika, through its unit PT Indika Energy Infrastructure, paid 1.45 trillion rupiah ($167.5 million) for the acquisition, according to the statement.

Indika, which also owns Indonesia’s third-biggest coal producer, fell 1.2 percent to 4,100 rupiah. Mitrabahtera, a coal transport company that began trading yesterday, rose 11 percent to 1,780 rupiah.

PT Perusahaan Gas Negara (PGAS IJ): Indonesia’s largest gas distributor plans to acquire a gas area in Indonesia to secure supply of the fuel, President Director Hendi Prio Santoso said in Jakarta, without providing details. Gas Negara advanced 1.3 percent to 3,850 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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