Indonesia Stocks: Bukit Asam, Indo Tambangraya, Kalbe Farma

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 slid 0.1 percent to 4,022.17.

Coal producers: PT Tambang Batubara Bukit Asam (PTBA) , a state-coal producer, declined 0.5 percent to 20,450 rupiah. PT Indo Tambangraya Megah (ITMG) , a unit of Thailand’s largest coal miner, fell 1.5 percent to 41,500 rupiah.

Indonesia needs to further study a plan to ban the sale of lower-quality coal from 2014, according to Edi Prasodjo, the coal business director at the Energy and Mineral Resources Ministry. The government hasn’t set a target for when the ban will be applied or which type of coal it will affect because it’s still seeking feedback from miners, Prasodjo said.

PT Kalbe Farma (KLBF) , the pharmaceutical company fell 0.7 percent to 3,400 rupiah. Kalbe is in talks with five to eight firms in the region for acquisitions as the cash-rich company looks to profit growing health demand, Reuters reported, citing Vidjongtius, a director at the company. A call to Vidjongtius’s office wasn’t answered.

To contact the reporter on this story: Femi Adi in Jakarta at

To contact the editor responsible for this story: Darren Boey at

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