Bank Mandiri, Nusantara, Tunas Ridean: 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 0.4 percent to 3,734.41.

PT Bank Mandiri (BMRI IJ): PT Mandiri Tunas Finance plans to sell 600 billion rupiah ($69 million) of bonds from May 10 to May 13 to help fund lending expansion, the automotive financing company said in a statement in Investor Daily Indonesia.

The venture between Bank Mandiri and PT Tunas Ridean (TURI IJ) will sell four series of bonds maturing in as much as four years, the statement said. Bank Mandiri, Indonesia’s biggest bank by assets, fell 0.7 percent to 6,800 rupiah. Tunas, an automotive retailer, declined 1.7 percent to 570 rupiah.

PT Nusantara Infrastructure (META IJ): The construction company plans to spend as much as $1 billion to build toll roads on Java island, Investor Daily reported, citing President Commissioner John Scott Younger. The company is interested in constructing six out of 24 toll roads that have been tendered by the Indonesian government, the report said. Nusantara rose 3.9 percent to 270 rupiah.

PT Perusahaan Gas Negara (PGAS IJ): Indonesia’s biggest gas distributor is planning to build several small liquefied natural gas receiving terminals in east Indonesia including on Borneo and Sulawesi islands, Kontan reported, citing President Director Hendi Prio Santoso. Gas Negara rose 0.6 percent to 3,975 rupiah.

To contact the reporter on this story: Berni Moestafa in Jakarta at bmoestafa@bloomberg.net

To contact the editor responsible for this story: Reinie Booysen at rbooysen@bloomberg.net

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