Benakat, Charoen Pokphand, Intiland: 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) slid 0.2 percent to 3,780.16.

Energy companies: Crude oil for July delivery climbed to a two-week high, rising 1.7 percent to $101.32 a barrel in New York yesterday. The contract gained 0.4 percent to $101.74 a barrel in after-hours trading as of 8:06 a.m. Jakarta time.

PT Medco Energi Internasional (MEDC IJ), Indonesia’s biggest listed oil company, was unchanged at 2,600 rupiah and PT Benakat Petroleum Energy (BIPI IJ) declined 0.8 percent to 126 rupiah.

PT Charoen Pokphand Indonesia (CPIN IJ): The country’s biggest producer of chicken feed allocated as much as 1.5 trillion rupiah for capital expenditure this year to expand its livestock-feed, live-poultry and processed-poultry units, Investor Daily Indonesia reported, citing President Director Thomas Effendy. Charoen was unchanged at 1,870 rupiah.

PT Intiland Development (DILD IJ): The property developer’s unit PT Intiwhiz International allocated as much as 320 billion rupiah to build six Hotel Whiz in 2011, Bisnis Indonesia reported, citing Intiwhiz President Director Moedjianto Soesilo Tjahjono. Intiland was unchanged at 335 rupiah.

PT Multi Bintang Indonesia (MLBI IJ): The beer manufacturer plans to increase its production capacity to 1.6 million hectoliters (42.3 million gallons), Bisnis Indonesia reported, citing President Director Leonard Cornelis Jor Evers. Multi Bintang is targeting 20 percent sales growth this year to 2 trillion rupiah, the newspaper cited Evers as saying. Multi Bintang rose 3.5 percent to 310,500 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

Bloomberg reserves the right to remove comments but is under no obligation to do so, or to explain individual moderation decisions.

Please enable JavaScript to view the comments powered by Disqus.