Bayan, Mandiri, Wijaya Karya, Telkom: 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 1.1 percent to 3,793.24.

Banks: The Indonesian central bank is expected to say today that it will hold its benchmark interest rate unchanged at 6 percent, according to the median estimate of 22 economists in a Bloomberg News survey. Bank Indonesia cut the rate from 6.5 percent last month.

PT Bank Mandiri (BMRI) , Indonesia’s biggest lender by assets, gained 1.5 percent to 6,700 rupiah and PT Bank Central Asia (BBCA IJ), the largest by market value, climbed 1.9 percent to 8,050 rupiah.

PT Bayan Resources (BYAN) : A unit of the company has awarded PT Hareda Krida Utama with a $160 million contract to mine coal over a five-year period, Bayan said. The contract will help the unit, PT Gunungbayan Pratamacoal, increase production, Bayan said. Bayan, a coal producer, fell 0.3 percent to 17,850 rupiah.

PT Japfa Comfeed Indonesia (JPFA) : The chicken breeder and animal feed producer will increase capital expenditure to 900 billion rupiah ($99 million) next year from 700 billion rupiah this year, the Jakarta Globe reported, citing Putut Djagiri, senior vice president at the company. Japfa dropped 1.7 percent to 4,225 rupiah.

PT Telekomunikasi Indonesia (TLKM) : Indonesia’s largest telephone company plans to refinance 3 trillion rupiah of debt next year, Investor Daily Indonesia reported, citing President Director Rinaldi Firmansyah. Telkom, as the company is known, slipped 0.7 percent to 7,300 rupiah.

PT Wijaya Karya (WIKA) : The state-owned construction company forecasts revenue to rise 15 percent to 20 percent next year to as much as 11.28 trillion rupiah supported by government contracts for infrastructure projects, Bisnis Indonesia reported, citing President Director Bintang Perbowo. Wijaya Karya rose 2.1 percent to 485 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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