Indonesia Stocks: Bank ICB, London Sumatra Indonesia, Skybee

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) dropped 35.13 points, or 0.9 percent, to 3,813.43, declining for the first time in six days.

PT Bank ICB Bumiputera (BABP IJ) jumped 8.1 percent to 120 rupiah, the steepest increase since May 5, after the Indonesian lender said shareholders approved a cash dividend payout of 30 percent of last year’s net income, or 0.66 rupiah a share.

PT Perusahaan Perkebunan London Sumatra Indonesia (LSIP IJ), the nation’s third-largest plantation stock by market value, fell 1.1 percent to 2,275 rupiah, the biggest drag on the Jakarta Agricultural Index. Palm oil futures declined as much as 1.5 percent to 3,070 ringgit ($1,005) a metric ton in Kuala Lumpur today, falling for a fourth straight day.

PT Skybee (SKYB IJ), a mobile-phone manufacturer, fell 4.6 percent to 620 rupiah, the sharpest drop since April 18. PT Sucorinvest Central Gani wrote in a report today Skybee’s shareholders approved a plan to sell new shares amounting to 10 percent of its capital. Selling new shares may dilute the stakes of existing shareholders. Corporate Secretary Stephanus Felix Kristani couldn’t be reached when called at his office.

To contact the reporter on this story: Berni Moestafa in Jakarta at bmoestafa@bloomberg.net; Chan Tien Hin in Kuala Lumpur at thchan@bloomberg.net

To contact the editor responsible for this story: Darren Boey at dboey@bloomberg.net

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