Astra Otoparts, Bank CIMB Niaga, Dian: 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 1.4 percent to 3,857.36.

Energy companies: Crude oil futures dropped for the first time in six days, losing 1.1 percent to $95.74 a barrel in New York yesterday. PT Medco Energi Internasional (MEDC IJ), Indonesia’s biggest listed oil company, was unchanged at 2,475 rupiah and PT Energi Mega Persada (ENRG IJ), the second-largest, was unchanged at 159 rupiah.

Rubber producers: Rubber futures in Tokyo slumped as much as 6.3 percent to 255.4 yen a kilogram. PT Perusahaan Perkebunan London Sumatra Indonesia (LSIP IJ), the nation’s third-largest plantation company by market value, rose 3.5 percent to 2,250 rupiah and PT Bakrie Sumatera Plantations (UNSP IJ) fell 1.7 percent to 285 rupiah.

PT Alam Sutera Realty (ASRI IJ): The property developer plans to sell as many as 1.79 billion new shares through a non- preemptive rights offer, the company said in a statement published in Investor Daily Indonesia. Proceeds from the sale will be used to develop its business and for working capital, Alam Sutera said. The stock was unchanged at 445 rupiah.

PT Astra Otoparts (AUTO IJ): The auto parts producer and Pirelli & C. SpA plan to build a $90 million factory for motorcycle tires in Indonesia, Bisnis Indonesia reported, citing Robby Sani, a director at Astra Otoparts. The stock was unchanged at 3,200 rupiah.

PT Bank CIMB Niaga (BNGA IJ): The Indonesian unit of Malaysia’s CIMB Group Holdings Bhd. may sell 1.5 trillion rupiah ($168 million) of bonds soon, with tenors of three and five years, Bisnis Indonesia reported, citing an unidentified person. Bank CIMB Niaga rose 2.2 percent to 1,370 rupiah.

PT Dian Swastatika Sentosa (DSSA IJ): The company’s coal unit, PT Golden Energy Mines, expects to double output to 10 million metric tons from 5 million tons this year as it plans to buy coal mines and develop infrastructure, Investor Daily Indonesia reported, citing President Director Lay Krisnan Cahya. The shares rose 4.7 percent to 13,500 rupiah when they last traded on Nov. 4.

PT Telekomunikasi Indonesia (TLKM IJ): Workers at the company’s mobile-phone unit PT Telekomunikasi Selular will go on a one-week strike starting today over benefit payments, said Yogi Rizkian Bahar, a spokesman for the union representing Telkomsel workers.

The strike will apply only to maintenance-related work and won’t affect Telkomsel’s telephone services, Bahar said. Telekomunikasi, the nation’s largest telephone company, was unchanged at 7,500 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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