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Indonesia Stocks: Adaro Energy, Bank Central Asia, Delta Dunia

Dec. 20 (Bloomberg) -- Indonesia’s Jakarta Composite index declined 12.76 points, or 0.4 percent, to 3,568.81 as of the 4 p.m. local-time close.

Banks: PT Bank Mandiri (BMRI IJ), Indonesia’s biggest bank by assets, declined 2.3 percent to 6,250 rupiah. PT Bank Central Asia (BBCA IJ), the second largest, slipped 1.5 percent to 6,600 rupiah. Lenders fell amid concerns the debt crisis in Europe will prompt investors to sell assets in high-yielding markets and that the shares’ rally this year was excessive relative to their earnings outlooks, according to Andrew Siahaan, an analyst at PT Reliance Securities.

PT Adaro Energy (ADRO IJ), Indonesia’s second-biggest coal mining company, jumped 8.7 percent to 2,500 rupiah, the sharpest increase since May 26. The shares rose on speculation Adaro will get better prices for its coal supply contracts next year because of the “bullish” coal market, Herman Koeswanto, an analyst at PT Mandiri Sekuritas said. Adaro Director Andre Mamuaya didn’t return a call to his mobile-phone.

PT Astra Agro Lestari (AALI IJ), the nation’s biggest listed plantation company, advanced 2.4 percent to 23,650 rupiah, the first increase in seven days. Palm oil futures rose as much as 1.7 percent to 3,562 ringgit ($1,132) a metric ton in Kuala Lumpur trading.

PT Delta Dunia Makmur (DOID IJ), which owns Indonesia’s second-biggest coal mining contractor, rose 3.1 percent to 1,340 rupiah. TPG Capital and Government of Singapore Investment Corp. have invested in Delta Dunia. David Bonderman’s TPG and GIC, which manages Singapore’s reserves, bought non-voting shares in Northstar Tambang Persada Ltd., an investment vehicle which owns 40 percent of Delta Dunia, according to a stock exchange filing.

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

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