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Delta Dunia, Salim Ivomas, Sinar Mas: 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 0.5 percent to 3,825.82.

Energy companies: Crude oil for July delivery advanced 1.7 percent to $100.74 a barrel in New York yesterday, the highest settlement since May 31. The contract was at $101.46 a barrel in after-hours trading as of 8:09 a.m. Jakarta time.

PT Medco Energi Internasional (MEDC IJ), Indonesia’s biggest listed oil company, declined 1 percent to 2,550 rupiah and PT Energi Mega Persada (ENRG IJ), the second largest, fell 2.4 percent to 205 rupiah.

PT Delta Dunia Makmur (DOID IJ): The Indonesian mining contractor plans to raise 1.22 trillion rupiah ($143 million) selling new shares at 900 rupiah apiece through a rights offer this month, the company said. Proceeds from the sale will be used to fund capital expenditure, repay debt and for working capital, Delta Dunia said in a statement published in Bisnis Indonesia today. Delta Dunia dropped 4.3 percent to 1,120 rupiah.

PT Indika Energy (INDY IJ): Bondholders at the coal producer agreed to restructure $185 million of the company’s $250 million debt by reducing the coupon rate to 7 percent from 8.5 percent and extending the maturity to 2018 from 2012, Investor Daily Indonesia reported, citing Finance Director Azis Armand. Indika will settle the other $65 million in 2012, the report said. The stock fell 0.6 percent to 4,100 rupiah.

PT Salim Ivomas Pratama (SIMP IJ): The producer of cooking oil, margarine and shortening will start trading today after raising 3.48 trillion rupiah in an initial public offering last month to repay debt and fund expansions.

PT Sinar Mas Agro Resources and Technology (SMAR IJ): The palm oil producer has allocated 1.1 trillion rupiah for capital expenditure this year to plant oil palm trees and build a processing plant, Bisnis Indonesia reported, citing Director Jimmy Pramono. Sinar Mas Agro fell 0.7 percent to 7,350 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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