Indofood CBP, Mandiri, Semen Gresik: Indonesian Equity Preview
The Jakarta Composite index rose 0.6 percent to 3,881.40.
Cement companies: Indonesia’s first-half domestic cement demand may increase 15 percent to 16 percent, Eriza Bakar, a director at PT Semen Gresik (SMGR) , the nation’s biggest maker of the building material, said. Semen Gresik may spend 6.96 trillion rupiah ($733 million) to build two plants in Sumatra and Java, President Director Dwi Soetjipto said.
Semen Gresik advanced 0.4 percent to 11,300 rupiah, PT Indocement Tunggal Prakarsa (INTP) , Indonesia’s second- largest cement producer, gained 1.5 percent to 16,950 rupiah, and PT Holcim Indonesia (SMCB) , the third biggest, was unchanged at 2,375 rupiah.
PT Bank Mandiri (BMRI) : Indonesia’s largest bank by assets is considering expanding its business into Myanmar, Vietnam and Thailand as it seeks to become the third biggest lender in Southeast Asia by 2020, Investor Daily Indonesia reported, citing Vice President Director Riswinandi. Bank Mandiri fell 0.7 percent to 6,950 rupiah.
PT Indofood CBP Sukses Makmur (ICBP) : Wheat futures for September delivery rose to a nine-month high of $7.5525 a bushel in Chicago yesterday before settling up 0.8 percent at $7.47. Indofood CBP, Indonesia’s largest instant-noodle maker that uses wheat in its production, was unchanged at 5,700 rupiah.
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