Indonesian Stock Movers: Indo Tambangraya, Tiga Pilar, Timah

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 (JCI) rose for a second day, gaining 0.2 percent to 4,166.24.

Coal producers: PT Indo Tambangraya Megah (ITMG) , a unit of Banpu Pcl, Thailand’s largest coal producer, rose 2.1 percent to 41,900 rupiah. PT Indika Energy (INDY) , which owns Indonesia’s third-biggest coal producer, rose 2.1 percent to 2,450 rupiah, the largest advance since March 21. Indonesia doesn’t plan to impose duty on coal exports, Thamrin Sihite, director general of minerals and coal at the Energy and Mineral Resources Ministry, said.

PT Tiga Pilar Sejahtera Food (AISA) , a noodle maker, jumped 8.3 percent to 650 rupiah, the highest close since Sept. 21. The company expects sales to rise 88 percent this year to 3.3 trillion rupiah ($360 million) and net income to increase to 212 billion rupiah led by revenue from its food and rice businesses, Kontan reported, citing Sjambiri Lioe, finance director at the company. Lioe couldn’t be reached when called at his office.

PT Timah (TINS) , Indonesia’s largest tin producer, rose 1.7 percent to 1,750 rupiah, the biggest gain since March 27. The company said today it obtained a 3 trillion-rupiah loan commitment from overseas and local banks, mainly to boost its offshore tin-mining operations.

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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