Indonesian Stocks: Bumi Resources, Kimia, Medco Energi, Timah
The Jakarta Composite index rose 1.2 percent to 4,079.38, the biggest gain since Feb. 29. The gauge has risen 6.7 percent this quarter.
PT Bumi Resources (BUMI) , Indonesia’s largest coal producer, rose 2.1 percent to 2,425 rupiah, the most since Feb. 13. Shareholder Bumi Plc appointed Samin Tan as its chairman and ousted co-chairman Nathaniel Rothschild following a board room dispute last year. Bumi owns 29 percent of Bumi Resources.
PT Kimia Farma (KAEF) , the state-owned drug producer, climbed 2.3 percent to 445 rupiah, its first gain since March 15, after reporting 2011 net income climbed to 171.8 billion rupiah ($19 million), from 138.7 billion rupiah a year earlier.
PT Medco Energi Internasional (MEDC) , Indonesia’s biggest listed oil company, jumped 7.2 percent to 2,225 rupiah, the steepest increase since Oct. 18, 2010. Medco said its 2011 net income rose to $85.1 million from $83.1 million a year earlier, and compared with the mean estimate of $39 million in a Bloomberg survey of six analysts.
PT Timah (TINS) , Indonesia’s largest tin producer, climbed 2.2 percent to 1,870 rupiah. Tin for three-month delivery gained for a second day on the London Metal Exchange yesterday, rising 1 percent to $22,455 a metric ton.
To contact the reporter on this story: Berni Moestafa in Jakarta at firstname.lastname@example.org
To contact the editor responsible for this story: Darren Boey at email@example.com