Aneka, Medco Energi, Multistrada Arah: 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 0.4 percent to 4,177.85.

Energy companies: Crude oil futures fell for a fourth day, its longest losing streak since May, declining as much as 0.7 percent to $93.10 a barrel in after-hours trading in New York.

PT Medco Energi Internasional (MEDC IJ), Indonesia’s biggest listed oil company, rose 1 percent to 2,525 rupiah and PT Energi Mega Persada (ENRG IJ), the second largest, fell 1.9 percent to 260 rupiah.

PT Aneka Tambang (ANTM IJ): Indonesia’s second-biggest nickel producer is considering selling $350 million in rupiah- denominated bonds at the end of this year and may seek $650 million of project financing to fund a ferronickel project in Indonesia, Bisnis Indonesia reported, citing a person with knowledge of the plan. Aneka was unchanged at 2,025 rupiah.

PT Multistrada Arah Sarana (MASA IJ): Texas Pacific Group, Hankook Tire Co. and Yokohama Tire Corp. have been shortlisted to buy a 40 percent stake in Multistrada, an Indonesian tire manufacturer, Bisnis Indonesia reported, citing a person it didn’t identify. The investors are scheduled to submit their final bids this Friday, the report said. Multistrada rose 3.9 percent to 540 rupiah.

PT Timah (TINS IJ): Tin futures sank 3 percent to $27,250 a metric ton in London yesterday, the steepest drop since June 2. Timah, Indonesia’s largest producer of the metal, declined 2 percent to 2,425 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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