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Indonesia Stocks: Bakrie Sumatera, Gas Negara, Selamat Sempurna

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Nov. 19 (Bloomberg) -- Indonesia’s Jakarta Composite index rose 47.14 points, or 1.3 percent, to 3,725.05 at the 4 p.m. local-time close, the steepest gain since Oct. 13. The measure rallied 1.6 percent in the holiday-shortened week, rounding off a sixth consecutive weekly advance.

PT Bakrie Sumatera Plantations (UNSP IJ), a producer of palm oil and rubber, increased 2.7 percent to 380 rupiah. The company’s nine-month net income rose to 245.3 billion rupiah ($27.4 million) from 238.3 billion rupiah the same period a year earlier, it said.

PT Bank Mega (MEGA IJ), a lender, increased 2.4 percent to 3,250 rupiah, the first advance since Nov. 9. The company’s nine-month net income rose to 631.2 billion rupiah from 329 billion rupiah a year earlier, it said in a statement published in Bisnis Indonesia today.

PT Perusahaan Gas Negara (PGAS IJ), Indonesia’s biggest gas distributor, jumped 5.3 percent to 4,475 rupiah, closing at a record high. Gas Negara had its share-estimate raised to 5,000 rupiah from 4,150 rupiah at Citigroup Inc. by Kim Kwie Sjamsudin, who said its “market underperformance” was a “good opportunity to accumulate the stock.” Citigroup kept its “buy” rating for Gas Negara.

PT Selamat Sempurna (SMSM IJ), a producer of automotive components, increased 1.9 percent to 1,090 rupiah. The company will pay an interim dividend of 25 rupiah per share on Dec. 28, the company said in a statement in Bisnis Indonesia.

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