Gold Drops to $1,200/oz for First Time Since June in New York
Bakrie, Jasa Marga, United Tractors: 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 4.4 percent to 3,842.75.
PT Bakrie & Brothers (BNBR IJ): The investment company plans to sell 1 trillion rupiah ($117 million) of bonds in the fourth quarter of this year as part of a plan to repay debt, Bisnis Indonesia reported, citing Finance Director Eddy Soeparno. Bakrie dropped 5.8 percent to 65 rupiah.
PT International Nickel Indonesia (INCO IJ): The company’s 2011 nickel production will likely decline to 71,000 tons from 73,000 tons last year as it plans to rebuild a furnace in October to increase capacity and after an earthquake in February disrupted production, Vice President Director Bernardus Irmanto said. International Nickel, the nation’s largest producer of the metal, retreated 5.7 percent to 3,700 rupiah.
PT Jasa Marga (JSMR IJ): Indonesia’s biggest toll road operator is seeking to acquire 150 kilometers to 202 kilometers of new toll roads by 2013 through the purchase of companies, Kontan reported, citing Frans Sunito, president director at the company. Jasa Marga declined 1.9 percent to 3,975 rupiah.
PT Semen Gresik (SMGR IJ): Indonesia’s largest cement producer may invest $150 million to build a cement plant in Papua to strengthen supply for eastern Indonesia, Investor Daily reported, citing President Director Dwi Soetjipto. The output of the plant may be 600,000 tons a year, the newspaper said. Semen Gresik dropped 3.3 percent to 8,800 rupiah.
PT United Tractors (UNTR IJ): Indonesia’s biggest heavy equipment seller said sales in July declined to 728 units from 742 units a month earlier. Sales rose from 468 units a year earlier, United Tractors said in an e-mailed statement. The stock fell 6.4 percent to 23,500 rupiah.
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