Bakrie Telecom, Gas Negara, Indopoly: 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) fell 0.9 percent to 3,813.43.

PT Bakrie Telecom (BTEL IJ): The mobile-phone operator will buy a company that holds the license for fourth-generation wireless technology in Indonesia in the third quarter of this year as part of its plan to focus on data services, Investor Daily Indonesia reported, citing President Director Anindya Bakrie. Bakrie Telecom was unchanged at 365 rupiah.

PT Bumi Resources (BUMI IJ): Vallar Plc announced the further acquisition of holdings in the company, saying it entered into sale and purchase agreements with Bumi shareholders to increase its stake to about 28.9 percent. Bumi, Indonesia’s biggest coal producer, dropped 3.2 percent to 3,025 rupiah.

PT Indopoly Swakarsa Industry (IPOL IJ): The producer of polypropylene films for flexible packaging plans to spend $50 million to boost production capacity of flexible packaging films by 20,000 tons that will help increase its revenue this year by 33 percent to $280 million, Kontan reported, citing President Director Henry Halim. Indopoly fell 4.4 percent to 215 rupiah.

PT Perusahaan Gas Negara (PGAS IJ): Shareholders approved a final dividend of 144.24 rupiah a share, amounting to 60 percent of last year’s net income, President Director Hendi Prio Santoso said. Gas Negara, Indonesia’s largest distributor of the fuel, fell 1.2 percent to 3,975 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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