Indonesia Stocks: Davomas Abadi, Energi Mega, Resource Alam
Shares of the following companies had unusual moves in Indonesian trading. Stock symbols are in parentheses, and prices are as of the 4 p.m. Jakarta-time break.
The Jakarta Composite index (JCI) advanced 6.32 points, or 0.2 percent, to 3,801.081, closing at a record. The measure rose 1.9 percent this week. The market will be closed tomorrow for a public holiday.
PT Davomas Abadi (DAVO IJ), a maker of cocoa products, fell 2.4 percent to 82 rupiah, extending yesterday’s 4.6 percent drop. PT Uniflora Prima said in a statement to the stock exchange that it has delayed the purchase of a 51.86 percent stake in Davomas, pending a plan to raise funds to settle Davomas’ debt as part of the takeover requirement.
PT Energi Mega Persada (ENRG IJ), Indonesia’s second- largest listed oil company, advanced 1.4 percent to 144 rupiah, the highest close since May. Crude futures gained the most in a month yesterday, adding 2.9 percent to $111.45 a barrel in New York. Oil was at $111.90 in after-hours trading.
PT Resource Alam Indonesia (KKGI IJ), a coal producer, rose 5.3 percent to 4,975 rupiah, a record close. The company said yesterday first-quarter net income nearly quadrupled to 81.9 billion rupiah ($9.5 million) from a year ago as production of the fuel increased.
To contact the reporter on this story: Berni Moestafa in Jakarta at email@example.com
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