Barito, Charoen Pokphand, Wintermar: 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 4.8 percent to 3,473.94.

Energy companies: Crude futures in New York surged the most in four months yesterday, advancing 5.4 percent to $84.45 a barrel. Oil was at $83.15 a barrel in after-hours trading.

PT Medco Energi Internasional (MEDC IJ), Indonesia’s biggest listed oil company, gained 6.1 percent to 2,175 rupiah. PT Benakat Petroleum Energy (BIPI IJ) was unchanged at 94 rupiah.

PT Barito Pacific (BRPT IJ): The company’s first-half net income jumped to 226.4 billion rupiah ($25 million) from 24.9 billion rupiah a year earlier, the company said in a statement published in Bisnis Indonesia. Revenue climbed to 10 trillion rupiah from 8.8 trillion rupiah, the statement said. Barito Pacific, an ethylene maker, rose 8.8 percent to 870 rupiah.

PT Berlian Laju Tanker (BLTA IJ): The Indonesian shipping company has refinanced $615 million of debt after getting a $685 million loan from six foreign banks, Investor Daily reported, citing Peter Chayson, an investor relations officer at the company. Berlian Laju advanced 5.7 percent to 205 rupiah.

PT Charoen Pokphand Indonesia (CPIN IJ): The nation’s biggest poultry farm operator signed a $250 million loan with 13 banks after initially targeting $200 million. The proceeds will be used to refinance debt, finance capital expenditures and for working capital requirements, President Director Thomas Effendy said. Charoen Pokphand jumped 20 percent to 2,425 rupiah.

PT Wintermar Offshore Marine (WINS IJ): The provider of shipping services to the petroleum industry plans to seek $30 million in bank loans to buy vessels, Bisnis Indonesia reported, citing Pek Swan Layanto, head of the corporate planning department. Wintermar rose 5.2 percent to 405 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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