Adira, Benakat Petroleum, Energi Mega: 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 percent to 3,838.14.

Energy companies: Crude oil for June delivery fell below $100 a barrel, plunging 5.5 percent to $98.21 a barrel in New York yesterday. The contract rose 1 percent to $99.17 a barrel in after-hours trading as of 8:43 a.m. Jakarta time.

PT Medco Energi Internasional (MEDC IJ), Indonesia’s biggest listed oil company, was unchanged at 2,725 rupiah and PT Benakat Petroleum Energy (BIPI IJ), the third largest, advanced 0.7 percent to 141 rupiah.

PT Adira Dinamika Multi Finance (ADMF IJ): The financing company will sell 2.5 trillion rupiah ($293 million) of bonds this month, an increase from the proposed 2 trillion rupiah debt issue, Investor Daily reported, citing Finance Director I Dewa Made Susila. The company hopes to boost lending by 15 percent this year, according to the report. Adira rose 0.8 percent to 12,800 rupiah.

PT Energi Mega Persada (ENRG IJ): Indonesia’s second biggest listed oil company said it signed a six-year contract to sell gas to state utility PT Perusahaan Listrik Negara at $4.9 per million British thermal unit. Energi Mega rose 6.7 percent to 190 rupiah.

To contact the reporter on this story: Berni Moestafa in Jakarta at

To contact the editor responsible for this story: Darren Boey at

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