Indonesia Stock: Astra International, Bakrie Sumatera, Lippo

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 close.

The Jakarta Composite index (JCI) gained 19.60 points, or 0.5 percent, to 3,859.81, closing at a record.

Palm oil producers: PT Sinar Mas Agro Resources and Technology (SMAR IJ) rose 4.9 percent to 6,400 rupiah, PT Bakrie Sumatera Plantations (UNSP IJ), gained 3.2 percent to 480 rupiah. Palm oil futures advanced for a fourth day, the longest- winning streak in more than a month, adding 1.4 percent to 3,342 ringgit a metric ton in Kuala Lumpur.

PT Astra International (ASII IJ), Indonesia’s largest automotive retailer, advanced 2.4 percent to 61,100 rupiah, the highest close since at least August 1991. Astra said it signed a $145 million, 36-month loan agreement on May 13 for “general funding” purposes. PT ANZ Panin Bank, DBS Bank Ltd. and the Singapore branch of Sumitomo Mitsui Banking Corp. and Mizuho Corporate Bank Ltd. will provide the debt, Astra said in a stock exchange statement yesterday.

PT Lippo Karawaci (LPKR IJ), Indonesia’s biggest property developer, plunged 9.3 percent to 680 rupiah, the sharpest drop since Oct. 14. The company may sell 1.45 billion new shares to Pacific Asia Holdings Ltd. through a non-preemptive rights offer, it said. Selling new shares may dilute the stake of existing shareholders.

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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