Kalbe Farma, Matahari, Medco Energi: Indonesia 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, unless stated otherwise.

The Jakarta Composite index fell 0.8 percent to 3,459.93.

Energy companies: Crude oil futures rose for the first time in five days, adding as much as 0.7 percent to $87.56 a barrel in after-hours trading in New York as of 8:48 a.m. Jakarta time.

PT Medco Energi Internasional (MEDC IJ), Indonesia’s biggest listed oil company, slid 0.8 percent to 3,300 rupiah. PT Benakat Petroleum Energy (BIPI IJ) fell 2.2 percent to 91 rupiah.

PT Kalbe Farma (KLBF IJ): Indonesia’s biggest pharmaceutical company expects net income to grow 18 percent this year to 1.42 trillion rupiah ($159 million) on higher sales, Kontan reported, citing Vidjongtius, a director at Kalbe Farma. Revenue may rise to 11.73 trillion rupiah this year from 10.2 trillion rupiah last year, the newspaper reported. The stock was unchanged at 2,900 rupiah.

PT Matahari Putra Prima (MPPA IJ): Wal-Mart Stores Inc. is in talks to become a partner of the Indonesian retailer to develop its hypermarkets, though South Korea’s Lotte Shopping Co. has pulled out, Reuters reported, citing unidentified people. Matahari dropped 3.3 percent to 1,490 rupiah.

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