Bank Bukopin, Garuda, Tiphone Mobile: Indonesia Equity Preview

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

The Jakarta Composite index (JCI) fell 0.7 percent to 3,909.64.

PT Bakrie Sumatera Plantations (UNSP) : The palm oil producer plans to develop 50,000 hectares of land in Nigeria to plant oil palm and rubber trees, Kontan reported, citing President Director Ambono Janurianto. Bakrie Sumatera rose 1.7 percent to 300 rupiah.

PT Bank Bukopin (BBKP) : The lender plans to sell 1 trillion rupiah ($109 million) of subordinated debt in the first quarter to boost capital, Investor Daily Indonesia reported, citing President Director Glen Glenardi. Bank Bukopin gained 1.6 percent to 630 rupiah.

PT Garuda Indonesia (GIAA) (GIAA IJ): The Indonesian government doesn’t object to overseas investors purchasing a stake in Garuda, including obtaining a management seat at the national flag carrier, Bisnis Indonesia reported, citing State Enterprises Minister Dahlan Iskan. Garuda retreated 1.9 percent to 530 rupiah.

PT TiPhone Mobile Indonesia (TELE) (TELE IJ): The company that sells the local-branded Tiphone mobile phone will start trading today after raising 410 billion rupiah in an initial public offering last week to help repay debt and fund working capital.

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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