Adhi Karya, Medco Energi, Timah: 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 0.7 percent to 3,773.27.

Energy companies: Crude oil for July delivery gained the most in nearly four weeks in New York yesterday, rising 2.1 percent to $99.37 a barrel. The contract was at $99.32 a barrel today.

PT Medco Energi Internasional (MEDC IJ), Indonesia’s biggest listed oil company, declined 3 percent to 2,400 rupiah and PT Energi Mega Persada (ENRG IJ), the second largest, lost 0.5 percent to 197 rupiah.

PT Adhi Karya (ADHI IJ): The state construction company will pay a final dividend of 32.35 rupiah a share, or 30 percent of 2010 net income, the Indonesian state-owned construction company said in a statement published in Investor Daily. Adhi rose 1.3 percent to 760 rupiah.

PT Timah (TINS IJ): Tin futures jumped 3.4 percent to $25,650 a metric ton in London yesterday, the most since March 23. Timah climbed 1 percent to 2,525 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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