Indonesia Stock Movers: Bank Rakyat Indonesia, Bisi, Multistrada
Shares of the following companies had unusual moves in Indonesian trading. Stock symbols are in parentheses and prices are as of the noon Jakarta-time break.
The Jakarta Composite index (JCI) climbed 8.30 points, or 0.2 percent, to 3,855.32.
PT Bank Rakyat Indonesia (BBRI IJ), the nation’s largest lender by revenue, rose 1.6 percent to 6,500 rupiah, the biggest boost to the Jakarta Finance Index. Bank Rakyat may record loan growth of as much as 20 percent in the third quarter from a year earlier, supported by consumer and microfinance lending, Finance Director Achmad Baiquni said.
PT Bisi International (BISI IJ), a corn and rice-seed producer, added 2.5 percent to 1,240 rupiah. The company has agreed to buy a 46 percent stake in seed-trading company PT Tanindo Subur Prima from Chia Tai Co. for $6.3 million, according to a statement published in Investor Daily.
PT Multistrada Arah Sarana (MASA IJ), a tire producer, fell 3.6 percent to 530 rupiah. Bisnis Indonesia reported two controlling shareholders canceled a plan to sell a 40 percent stake in the company because the offer price didn’t match their valuation of the shares. Multistrada Director Yohanes Ade Bunian Moniaga couldn’t be reached when called at his office.
PT Timah (TINS IJ) gained 1.2 percent to 2,200 rupiah. Indonesia’s biggest tin producer said first-half net income more than doubled from a year earlier to 689 billion rupiah ($80 million). Sales increased to 4.83 trillion rupiah from 3.75 trillion rupiah a year earlier, the company said.
To contact the reporter on this story: Berni Moestafa in Jakarta at email@example.com
To contact the editor responsible for this story: Darren Boey at firstname.lastname@example.org