Agis, Bayan Resources, Medco Energi: 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 fell 0.5 percent to 3,752.34.

Energy companies: Crude-oil futures in New York rose 1.1 percent in electronic trading, rising for a third day after gaining 3.4 percent yesterday. PT Medco Energi Internasional (MEDC) , Indonesia’s biggest listed oil company, declined 1 percent to 2,450 rupiah and PT Benakat Petroleum Energy (BIPI) advanced 2.6 percent to 200 rupiah.

PT Agis (TMPI) : The consumer electronics distributor plans to acquire a gold mine in West Sumatra, Kontan reported citing Steven Kesuma, president director at Agis. The acquisition may be completed in the first quarter of 2012, the report said. Agis jumped 16 percent to 160 rupiah.

PT Bayan Resources (BYAN) : PT Gunungbayan Pratamacoal, a unit of the company, plans to spend $640 million to extend a contract with PT Bukit Makmur Mandiri Utama for a coal mining project, Chin Wai Fong, president director at Bayan, said in a statement to the Jakarta stock exchange. Bayan fell 0.3 percent to 17,800 rupiah. PT Delta Dunia Makmur (DOID) , the parent of Bukit Makmur, retreated 1.5 percent to 660 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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