The Jakarta Composite index rose 0.1 percent to 4,027.31.
Coal producers: PT Bumi Resources (BUMI) , Indonesia’s largest coal producer, fell 1 percent to 2,400 rupiah and PT Tambang Batubara Bukit Asam (PTBA) , a state-coal producer, slid 0.2 percent to 20,500 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 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 Indofood Sukses Makmur (INDF) , the parent of the nation’s biggest instant-noodle maker gained 0.5 percent to 4,925 rupiah. Indofood’s 2011 net income rose to 3.08 trillion rupiah from 2.95 trillion rupiah a year earlier, the company said in a statement published in Bisnis Indonesia.
PT Indofood CBP Sukses Makmur (ICBP) , Indonesia’s largest instant-noodle maker gained 1 percent to 5,250 rupiah. Indofood CBP’s 2011 net income gained to 1.97 trillion rupiah from 1.7 trillion rupiah a year earlier, the company said in a statement published today in Bisnis Indonesia.
PT Kalbe Farma (KLBF) , the pharmaceutical company rose 0.7 percent to 3,450 rupiah. Kalbe is in talks with five to eight firms in the region for acquisitions as the cash-rich firm 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 firstname.lastname@example.org
To contact the editor responsible for this story: Darren Boey at email@example.com