The Jakarta Composite index fell 0.6 percent to 4,155.49.
Bakrie Group related companies: PT Bakrie & Brothers (BNBR), an Indonesian family palm oil-to-property empire founded in 1942, needs to raise about $100 million in cash by the end of this week as loan collateral, a person familiar with the matter said.
PT Bakrieland Development (ELTY) , a property developer, fell 5.6 percent to 118 rupiah, PT Bakrie Sumatera Plantations (UNSP) , a palm oil and rubber producer, lost 3.3 percent to 295 rupiah and PT Bumi Resources (BUMI) , Indonesia’s largest coal producer, sank 7.4 percent to 1,990 rupiah.
Nickel producers: Nickel futures declined 1.4 percent to $17,550 a metric ton in London yesterday, the most since April 16. PT Vale Indonesia (INCO) , the nation’s biggest producer of the metal, fell 2.3 percent to 3,125 rupiah. PT Aneka Tambang (ANTM) , the second largest, lost 2.3 percent to 1,730 rupiah.
PT Garuda Indonesia (GIAA) : PT Bahana Securities, PT Danareksa Sekuritas and PT Mandiri Sekuritas may raise about 1.5 trillion rupiah ($163 million) selling a 10.8 percent stake in the state-owned airline at a price of 620 rupiah to 650 rupiah a share, Investor Daily Indonesia reported, citing Pandu Djajanto, a deputy to the state enterprises minister. The transaction is expected to be completed by April 26, the report said. Garuda, the national flag carrier, fell 1.6 percent to 630 rupiah.
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