Bakrie Sumatera, Global Mediacom: Indonesian Equity Preview
Stock Chart for Bakrie Sumatera Plantations Tbk PT (UNSP)
The Jakarta Composite index fell 1.8 percent to 3,791.62.
Energy companies: Crude oil for July delivery advanced 1.6 percent to $83.91 a barrel in New York yesterday, the most since April 11. Oil was last at $84.27 in after-hours trading. PT Medco Energi Internasional (MEDC) , Indonesia’s biggest listed oil company, fell 3.8 percent to 1,760 rupiah and PT Energi Mega Persada (ENRG) , the second largest, declined 3.7 percent to 129 rupiah.
PT Bakrie Sumatera Plantations (UNSP) : The company’s crude palm oil output may increase to 350,000 tons this year from 330,000 tons in 2011, said President Director Bambang Aria Wisena. Rubber production may rise to 31,000 tons from about 28,000 tons last year, Wisena said. Bakrie Sumatera tumbled 9 percent to 172 rupiah.
PT Bumi Resources (BUMI) : Bumi Plc Chairman Samin Tan, who ran the first annual shareholder meeting of the coal producer in London yesterday, said reducing debt is one of the company’s biggest concerns. Bumi is seeking to cut debt at one of its Indonesian units by at least $600 million and intends to announce further details in August or September, Tan said. Bumi Resources, in which London-listed Bumi owns a 29 percent stake, owes $1.3 billion to China Investment Corp., due in two tranches in October 2014 and 2015. Bumi Resources, Indonesia’s biggest coal producer, sank 8.9 percent to 1,030 rupiah.
PT Global Mediacom (BMTR) : PT MNC Sky Vision, the pay- television unit of Global Mediacom, plans to offer 1.4 billion shares in an initial public offering from June 29 to July 3, Sky Vision said in a statement published in Bisnis Indonesia today. The company will use the proceeds for capital expenditure and debt repayment, it said. Global Mediacom fell 2.9 percent to 1,320 rupiah and PT Bhakti Investama (BHIT) , the parent of Global Mediacom, lost 1.3 percent to 390 rupiah.
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
Bloomberg reserves the right to edit or remove comments but is under no obligation to do so, or to explain individual moderation decisions.