Agung Podomoro Land, Astra, Petrosea: 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) rose 0.6 percent to 3,889.97.
PT Agung Podomoro Land (APLN IJ): The property developer has acquired PT Putra Adhi Prima at a cost 300 billion rupiah ($35 million) and PT Karya Gemilang Perkasa for 300.85 billion rupiah, Bisnis Indonesia reported, citing Agung Podomoro Corporate Secretary Justini Omas. The stock rose 1.6 percent to 325 rupiah.
PT Astra International (ASII IJ): The Indonesian company’s unit, Astratel Nusantara, agreed to acquire a 95 percent stake in PT Marga Hanurata Intrinstic, which will operate a 40.5 kilometer (25.2 miles) long toll-road in East Java, Astra said. Astratel will pay PT Natpac Graha Arthamas 750 billion rupiah for the stake, Astra said. Astra, Indonesia’s biggest automotive retailer, rose 1 percent to 68,500 rupiah.
PT Petrosea (PTRO IJ): The company said it signed an amendment of a coal-mining contract with PT Adimitra Baratama Nusantara, increasing its value to about $930 million from $200 million. The August 2009 contract was for loading and hauling among other things 14 million tons of coal at a mine in Sanga Sanga in East Kalimantan province. Petrosea was unchanged at 35,000 rupiah when it last traded Aug. 16. Parent company PT Indika Energy (INDY IJ), an Indonesian coal producer, was unchanged at 3,175 rupiah.
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