BW Plantation, Harum Energy, Indosat: 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 fell 1.16 point, or less than 0.1 percent, to 3,906.26.

PT BW Plantation (BWPT) : The company plans to spend 700 billion rupiah ($76 million) this year to add 10,000 hectares of palm oil plantation land and build a palm-oil factory with a capacity of 60 tons an hour, Kontan reported, citing Kelik Irwantono, corporate secretary at the Indonesian palm-oil producer. BW Plantation slid 1.7 percent to 1,190 rupiah.

PT Harum Energy (HRUM) : The thermal-coal producer obtained a $270 million loan from a group of lenders led by DBS Group Holdings Ltd. and United Overseas Bank Ltd. to fund land acquisitions mainly near its mining site on the Indonesian part of Borneo island, Investor Daily Indonesia reported, citing Corporate Secretary Alexandra Mira. Harum declined 1.4 percent to 7,150 rupiah.

PT Tower Bersama Infrastructure (TBIG) : The mobile-phone infrastructure provider will complete the acquisition of mobile- phone towers from PT Indosat (ISAT) by the end of this month after the two companies signed a non-binding agreement in November, Kontan reported, citing Tower Bersama Finance Director Helmy Yusman Santoso. Tower Bersama was unchanged at 2,400 rupiah and Indosat fell 3.4 percent to 5,650 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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