Adhi Karya, Bakrieland, Indo Straits: 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 2 percent to 3,799.04.

PT Adhi Karya (ADHI IJ): The state-owned construction company and its South Korean partner, Goldstar Co Ltd., won a tender from PT Pertamina to build a residual fluid catalytic cracker plant valued at $1.5 billion, Investor Daily Indonesia reported, citing a person with knowledge of the tender process. Adhi Karya fell 1.8 percent to 550 rupiah.

PT Bakrieland Development (ELTY IJ): The property developer teamed up with Warner Bros. Entertainment Inc. and another overseas company to build a recreation park in Indonesia’s West Java province, Investor Daily Indonesia reported, citing Bakrieland President Director Hiramsyah Thaib. The stock fell 3.6 percent to 135 rupiah.

PT Indo Straits (PTIS IJ): The marine civil contracting company obtained a contract from PT Arutmin Indonesia to transport 2.4 million tons of coal over a six-month period from a mine in Satui, South Kalimantan, Investor Daily Indonesia reported, citing Hui Mun Leong, president director of Indo Straits. The stock dropped 4.5 percent to 850 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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