Indonesian Stock Movers: Bumi, BW Plantation, London Sumatra
The Jakarta Composite Index (JCI) fell 1 percent to 3,906.15, on course for the first drop in five days.
Bakrie Group-related stocks: PT Bumi Resources (BUMI) , Indonesia’s biggest coal producer, gained 4.3 percent to 1,210 rupiah. PT Bakrie Sumatera Plantations (UNSP) advanced 2.2 percent to 188 rupiah.
PT Bakrie & Brothers (BNBR), an investment company that owns shares in Bumi and Bakrie Sumatera, expects to settle its debt to MSN Tara Ltd. and Interventures Capital Pte. before August, instead of the end of May as initially planned, Bisnis Indonesia reported, citing Finance Director Eddy Soeparno. Bakrie repaid 1.54 trillion rupiah ($163 million) of the 2.11 trillion rupiah it owes MSN Tara and Interventures using shares in its units held as collateral, the report said. Two calls to Bakrie’s office weren’t answered.
Energy companies: PT Medco Energi Internasional (MEDC) , the nation’s biggest listed oil company, declined 1.7 percent to 1,790 rupiah. PT Benakat Petroleum Energy (BIPI) slipped 1.1 percent to 188 rupiah. Crude oil for July delivery fell $2.23 to $81.80 a barrel in New York yesterday, the lowest settlement since Oct. 5.
Palm oil producers: PT Perusahaan Perkebunan London Sumatra Indonesia (LSIP IJ) dropped 1 percent to 2,575 rupiah and PT BW Plantation (BWPT) lost 2.7 percent to 1,440 rupiah. Palm oil futures fell as much as 1.8 percent to 2,986 ringgit ($941) a metric ton in Kuala Lumpur, the first drop in four days.
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