Bumi, Harum Energy, United Tractors: Indonesia Equity Preview

Shares of the following companies may have unusual (JCI) moves in Indonesian trading. Stock symbols are in parentheses, and share prices are as of the previous close.

The Jakarta Composite index rose 0.3 percent to 3,647.05.

PT Bumi Resources (BUMI) : The company’s units in Kalimantan will experience “little or no impact” on coal shipments after a bridge spanning the Mahakam river in East Kalimantan collapsed over the weekend, Director Dileep Srivastava said. Bumi, Indonesia’s largest coal producer, rose 1.3 percent to 2,025 rupiah.

PT Harum Energy (HRUM) : The thermal coal producer has notified customers it may reschedule coal shipments after the Mahakam bridge collapse. Shipments for this month are unaffected as the coal barges carrying the shipments passed the Kutai Kertanegara bridge before the incident, it said. Harum Energy retreated 5.4 percent to 6,950 rupiah.

PT United Tractors (UNTR) : Indonesia’s biggest heavy equipment seller may spend $500 million on capital expenditure next year, Bisnis Indonesia reported, citing Corporate Secretary Sara Loebis. The spending excludes funds for acquiring coal mines in East Kalimantan and Central Kalimantan provinces, the report said. United Tractors slid 0.2 percent to 23,800 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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