Astra Agro, Bank Rakyat, Energi Mega: 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 1 percent to 3,754.5.

Energy companies: Oil futures fell a third day in New York after Japan reported the first decline in exports in three months. Crude for January delivery slid as much as 0.6 percent to $97.06 a barrel in electronic trading on the New York Mercantile Exchange and was at $97.22 at 7:45 a.m. Jakarta time.

PT Medco Energi Internasional (MEDC IJ), Indonesia’s biggest listed oil company, sank 2.1 percent to 2,350 rupiah and PT Energi Mega Persada (ENRG IJ), the second largest, dropped 1.2 percent to 159 rupiah.

PT Bumi Resources Minerals (BRMS IJ): Nine-month net income declined to 556.37 billion rupiah ($61 million) from 707.95 billion rupiah a year earlier as copper and gold production dropped more than 40 percent, the Indonesian mining company said in an e-mailed statement Nov. 19. Bumi Resources Minerals fell 3.4 percent to 610 rupiah.

PT Astra Agro Lestari (AALI IJ): The Indonesian palm oil producer is seeking $100 million of financing to replace a loan that will mature in 2012 and cope with global uncertainties that may affect currency volatility and commodity prices, Bisnis Indonesia reported, citing Director Santosa. Astra Agro was unchanged at 22,750 rupiah.

PT Bank Rakyat Indonesia (BBRI IJ): The lender plans to sell 3 trillion rupiah of subordinated debt next year to help boost capital, Bisnis Indonesia reported, citing Finance Director Achmad Baiquni. Bank Rakyat decreased 2.2 percent to 6,650 rupiah.

To contact the reporter on this story: Greg Ahlstrand in Jakarta at gahlstrand@bloomberg.net

To contact the editor responsible for this story: Darren Boey at dboey@bloomberg.net

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