Indomobil, Krakatau, Lippo Karawaci: 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 1.06 points, or less than 0.1 percent, to 3,814.93.

Metal producers: Nickel for three-month delivery slumped 5.4 percent to $25,825 a metric ton in London yesterday, the biggest drop since Nov. 16. Tin futures declined 4.2 percent to $30,950 a ton. PT International Nickel Indonesia (INCO IJ), the nation’s largest producer of the metal, climbed 0.5 percent to 4,900 rupiah. PT Timah (TINS IJ), Indonesia’s biggest tin producer, gained 0.9 percent to 2,825 rupiah.

Oil producers: Crude oil for June delivery declined for a fourth day, the longest losing streak in almost eight weeks, falling 0.5 percent to $108.67 a barrel in after-hours trading in New York as of 8:30 a.m. Jakarta time. PT Medco Energi Internasional (MEDC IJ), the nation’s biggest listed oil company, fell 0.9 percent to 2,725 rupiah. PT Energi Mega Persada (ENRG IJ), the second largest, slipped 0.6 percent to 166 rupiah.

PT Indomobil Sukses Internasional (IMAS IJ): The company’s financing unit, PT Indomobil Finance Indonesia, plans to sell as much as 500 billion rupiah ($58 million) of bonds to help fund its business, it said in a statement published in Bisnis Indonesia. Indomobil, an automotive retailer, was unchanged at 8,500 rupiah.

PT Krakatau Steel (KRAS IJ): Indonesia’s largest steel producer plans to build an iron mill with a capacity of 1.2 million tons a year at a cost of 5.9 trillion rupiah, the company said in a statement in Bisnis Indonesia. Krakatau Steel was unchanged at 1,130 rupiah.

PT Lippo Karawaci (LPKR IJ): Lippo Group, through its affiliate Pacific Asia Holdings Ltd., said it bought 435 million shares of Lippo Karawaci for $39.5 million, Bisnis Indonesia reported, citing Lippo Karawaci Director Mark Wong. Lippo Karawaci, Indonesia’s biggest property developer, fell 1.3 percent to 770 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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