Indonesia Stocks: Adhi Karya, Medco Energi, Surabaya Agung

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) rose 20.98, or 0.6 percent, to 3,794.25, rising for a second day.

PT Medco Energi Internasional (MEDC IJ), Indonesia’s biggest listed oil company, advanced 2.1 percent to 2,450 rupiah, the sharpest increase since Feb. 17. 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 $98.58 a barrel today.

PT Adhi Karya (ADHI IJ), a state-owned construction company, added 1.3 percent to 770 rupiah. Adhi Karya will pay a final dividend of 32.35 rupiah a share, or 30 percent of 2010 net income, it said in a statement published in Investor Daily.

PT Surabaya Agung Industri Pulp & Kertas (SAIP IJ), a producer of paper products, jumped 17 percent to 245 rupiah, the steepest gain since May 31. The company plans to issue 2.06 billion new shares as part of an agreement to restructure a total of $241 million of debt, it said in a filing to the Indonesia Stock Exchange yesterday.

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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