Indonesia Equity Movers: Bank Rakyat, Bakrie Telecom, Salim

Shares of the following companies had unusual moves in Indonesian trading. Stock symbols are in parentheses, and prices are as of the close in Jakarta.

The Jakarta Composite index rose 2.1 percent to 3,985.21, the most since Nov. 4. The gauge climbed 1.1 percent this month, its third straight monthly gain.

PT Bank Rakyat Indonesia (BBRI) , the nation’s second- largest bank by assets, rose 3.8 percent to 6,900 rupiah. The company said 2011 net income climbed 31 percent from a year earlier to 15.08 trillion rupiah.

PT Bank Negara Indonesia (BBNI) , the nation’s third- biggest state-owned bank by assets, jumped 4.9 percent to 3,775 rupiah, extending yesterday’s 0.7 percent climb, after the company said its 2011 profit rose 42 percent from a year earlier to 5.81 trillion rupiah. A survey of 24 analysts by Bloomberg estimated net income of 5.47 trillion rupiah for the full year. Bank Negara expects lending to rise 18 percent to 20 percent this year.

PT Bakrie Telecom (BTEL) , the mobile-phone operator fell 3.6 percent to 265 rupiah, the most since Dec. 7. Fitch Ratings downgraded the company’s long-term foreign- and local-currency issuer default ratings to CCC from B. The senior unsecured rating was also cut to CCC from B. The downgrade reflects the growing liquidity risks Bakrie Telecom faces with its 650- billion-rupiah bond maturing Sept. 4 and finance lease obligation payments of 660 billion rupiah, Fitch said in a report.

PT Perusahaan Perkebunan London Sumatra Indonesia (LSIP) , the nation’s second-largest listed plantation company by market value, advanced 3.9 percent to 2,650 rupiah. The company said 2011 net income rose to 1.7 trillion rupiah from 1.03 trillion rupiah a year earlier, according to a statement published today in Bisnis Indonesia.

PT Salim Ivomas Pratama (SIMP) (SIMP IJ), an oil-palm planter that also produces cooking oil, added 2.2 percent to 1,420 rupiah. Salim’s 2011 net income rose to 1.66 trillion rupiah from 970 billion rupiah a year earlier, it said in a statement published today in Bisnis Indonesia.

To contact the reporter on this story: Femi Adi in Jakarta at fadi1@bloomberg.net

To contact the editor responsible for this story: Darren Boey at dboey@bloomberg.net

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