Borneo Lumbung, Indocement Tunggal: Indonesia Equity Preview

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

The Jakarta Composite index rose 1.3 percent to 3,907.42.

PT Borneo Lumbung Energi & Metal (BORN) : The coking coal producer is considering buying a stake in PT Bumi Resources Minerals (BRMS) at the end of 2012 or in 2013, Investor Daily Indonesia reported, citing a person it didn’t identify. Borneo Lumbung fell 1.2 percent to 840 rupiah and Bumi Minerals gained 3.5 percent to 590 rupiah.

PT Tambang Batubara Bukit Asam (PTBA) : The state-owned coal producer may reduce the amount of shares it plans to buy back from the initial target of 115 million after the price rose, Kontan reported, citing President Director Milawarma. Bukit Asam slid 0.3 percent to 18,350 rupiah.

PT Indocement Tunggal Prakarsa (INTP) : Indonesia’s second-largest cement producer may spend as much as $250 million this year as part of a $500 million investment to build two cement plants with annual capacities of 2 million tons to 2.5 million tons, Kontan reported, citing Corporate Secretary Sahat Pangabean. Indocement advanced 3.4 percent to 18,050 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

Press spacebar to pause and continue. Press esc to stop.

Bloomberg reserves the right to remove comments but is under no obligation to do so, or to explain individual moderation decisions.

Please enable JavaScript to view the comments powered by Disqus.