Astra, Benakat, Bumi Minerals, Medco: Indonesia Equity Preview
The Jakarta Composite index slid 0.3 percent to 3,809.14.
Energy companies: Crude oil futures gained as much as 1.7 percent to $100.57 a barrel in after-hours trading in New York.
PT Astra International (ASII) : Indonesia plans to end the sale of subsidized fuel to private cars in the greater Jakarta area in April, the Jakarta Post reported, citing Agus Budihartono, a committee member at BPH Migas, the nation’s regulator for the oil and gas downstream industry. Astra, Indonesia’s biggest automotive retailer, slipped 0.4 percent to 73,700 rupiah.
PT Benakat Petroleum Energy (BIPI) : The Indonesian oil and gas producer is considering selling its 27.43 percent stake in PT Java Mitra Sentosa, which owns a coal mining company in East Kalimantan province, Investor Daily Indonesia reported, citing a person it didn’t identify. Benakat fell 2.4 percent to 200 rupiah.
PT Bumi Resources (BUMI) : Indonesia’s largest coal producer plans to sell shares in PT Bumi Resources Minerals (BRMS) and is looking for a strategic partner to develop the unit’s mines, Investor Daily Indonesia reported, citing Bumi Resources Director Dileep Srivastava. Bumi Resources gained 1.2 percent to 2,200 rupiah and Bumi Minerals was unchanged at 530 rupiah. Srivastava wasn’t in the office when called before business hours, and a call and text message to his mobile phone weren’t immediately answered.
To contact the reporter on this story: Berni Moestafa in Jakarta at firstname.lastname@example.org
To contact the editor responsible for this story: Darren Boey at email@example.com