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Bank Mandiri, Bumi Resources, Lippo: 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 4.6 percent to 3,443.11.

Energy companies: Crude oil futures gained 3.7 percent to $82.59 a barrel in New York yesterday, capping a 9.1 percent, two-day rally. Oil was last traded at $82.19 a barrel.

PT Medco Energi Internasional (MEDC IJ), Indonesia’s biggest listed oil company, rose 5.3 percent to 1,980 rupiah and PT Energi Mega Persada (ENRG IJ), the second largest, jumped 10 percent to 128 rupiah.

PT Bakrie & Brothers (BNBR IJ): The Bakrie family is considering selling assets to repay a $1.34 billion loan to the group led by Credit Suisse Group AG, the Financial Times reported, citing unidentified people familiar with the matter. The family pledged its entire holding in London-listed miner Bumi Plc as collateral for a loan, the report said. Bakrie & Brothers, the investment company controlled by the family, rose 2 percent to 51 rupiah.

PT Bank Mandiri (BMRI IJ): Indonesia’s largest bank by assets expects to start operating its branch in Shanghai in mid November, Finance Director Pahala Mansury said. Mandiri advanced 7.1 percent to 6,050 rupiah.

PT Bank Negara Indonesia (BBNI IJ): The Indonesian state- owned bank plans to open one new branch in Japan and Saudi Arabia next year, to boost remittance services, Kontan reported, citing Treasury and International Banking Director Adi Setianto. Bank Negara gained 7.9 percent to 3,425 rupiah.

PT Bumi Resources (BUMI IJ): Asia’s largest exporter of thermal coal is in talks with a group of banks to “seek cheaper debt financing” as it expects to cut debt costs by half, Director Dileep Srivastava said. Bumi’s third-quarter coal production exceeded 17 million tons and the company sold 16.5 million tons of the fuel in that period, Srivastava also said. Bumi jumped 13 percent to 1,960 rupiah.

PT Lippo Karawaci (LPKR IJ): Indonesia’s largest property developer by market value plans to spend $275 million on capital expenditure next year, Mark Wong, a senior executive at the company, said without providing a comparative figure. Lippo gained 3.3 percent to 620 rupiah.

PT United Tractors (UNTR IJ): Indonesia’s biggest heavy equipment seller plans to pay an interim dividend of 185 rupiah a share in November, Corporate Secretary Sara Loebis said. United Tractors rose 5.9 percent to 20,550 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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