Indonesian Stock Movers: Bank CIMB Niaga, Mandiri, Indofarma
The Jakarta Composite index rose 0.4 percent to 4,180.31.
PT Bank CIMB Niaga (BNGA) , a unit of Malaysia’s CIMB Group Holdings Bhd., advanced 5.7 percent to 1,290 rupiah, the biggest gain since Oct. 27, after reporting first-quarter net income rose to 936.5 billion rupiah ($102 million), from 727.5 billion rupiah a year earlier.
PT Bank Mandiri (BMRI) , the nation’s largest bank by assets, rose 4.3 percent to 7,300 rupiah, the most since Nov. 4. Mandiri said first-quarter profit rose 27 percent from last year, excluding a non-recurring gain, to 3.4 trillion rupiah. Mandiri earned 1.4 trillion rupiah selling a stake in PT Garuda Indonesia in February last year. The company’s earnings were “characterized by strong profitability metrics,” Barclays Capital said in a note today.
PT Indofarma (INAF) , a state-owned drugmaker, jumped 14 percent to 245 rupiah, the steepest gain since Oct. 25. Indofarma plans to sell 300 billion rupiah of five-year bonds in the third quarter to refinance debt and fund expansion, the Jakarta Globe reported, citing John Guntar Sebayang, finance director at the company. Sebayang couldn’t be reached when called at his office.
PT Telekomunikasi Indonesia (TLKM) , the nation’s largest telephone company, climbed 1.3 percent to 8,000 rupiah. The company’s first-quarter net income rose to 3.33 trillion rupiah from 2.82 trillion rupiah a year earlier, it said in a statement on its website today.
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