Aneka, Fastfood, Indosat, Telkom: Indonesian Equity Preview

Shares of the following companies may have unusual moves in Indonesian trading. Stock symbols are in parentheses, and share prices are as of the previous close.

The Jakarta Composite index rose 0.5 percent to 3,880.82.

Nickel producers: Nickel futures advanced 2.6 percent to $17,090 a metric ton in London yesterday, the steepest increase since June 7. PT Vale Indonesia (INCO) , Indonesia’s largest producer of the metal, gained 5.3 percent to 2,475 rupiah and PT Aneka Tambang (ANTM) , the second largest, rose 3.9 percent to 1,330 rupiah.

PT Fastfood Indonesia (FAST) : The company plans to add as many as 30 Kentucky Fried Chicken restaurants in Jakarta and its greater areas, Sumatra and Kalimantan this year, Investor Daily Indonesia reported, citing Director Justinus Dalimin Juwono. Fastfood Indonesia climbed 3.9 percent to 13,500 rupiah.

PT Indosat (ISAT) : Indonesia’s second-largest telephone company plans to sell 2.7 trillion rupiah ($285 million) of bonds and 300 billion rupiah of sukuk, it said in a statement published in Bisnis Indonesia today. The company said May 28 it planned to sell as much as 2.5 trillion rupiah of bonds and sukuk to pay for network licensing, acquire base station sub- systems and to repurchase early 200 billion rupiah of debt due November 2032. Indosat advanced 1.4 percent to 3,650 rupiah.

PT Telekomunikasi Indonesia (TLKM) : Indonesia’s biggest telephone company canceled a plan to buy Pacnet Ltd., a Hong Kong-based fiber-optics company, because the acquisition won’t provide added value, Kontan reported, citing Telkom Finance Director Honesti Basyir. Telkom rose 1.3 percent to 7,600 rupiah.

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