Gresik, Multistrada, Tower Bersama: 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) gained 0.7 percent to 3,821.83.

Cement producers: Domestic cement sales in the first five months of the year rose 13.5 percent from a year ago to 18.4 million metric tons, Investor Daily Indonesia reported, citing Agung Wiharto, head of investor relations at PT Semen Gresik (SMGR IJ), the nation’s biggest producer of the building material. Domestic sales in May gained 25 percent from a year earlier to 4.1 million tons, the newspaper said.

Semen Gresik retreated 0.5 percent to 9,650 rupiah and PT Indocement Tunggal Prakarsa (INTP IJ), the second largest cement maker, gained 0.3 percent to 16,850 rupiah.

PT Multistrada Arah Sarana (MASA IJ): The tire producer may invest $300 million to $500 million in the next four years to boost production capacity, Kontan reported, citing President Director Pieter Tanuri. Multistrada declined 1.9 percent to 520 rupiah.

PT Tower Bersama Infrastructure (TBIG IJ): The Indonesian provider of infrastructure services to wireless carriers signed a conditional agreement to buy 100 percent of PT Mitrayasa Sarana Informasi, or Infratel, a Jakarta-based, privately owned telecommunications tower provider, Tower Bersama said in an e- mailed press release. Tower Bersama advanced 2.2 percent to 2,300 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 edit or 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.