June 23 (Bloomberg) -- Shares of the following companies had unusual moves in Indonesian trading. Stock symbols are in parentheses, and prices are as of the 4 p.m. Jakarta-time close.
The Jakarta Composite index rose 1.82 points, or 0.1 percent, to 3,823.65, gaining for a fourth straight day.
Pharmaceutical companies: PT Kimia Farma (KAEF IJ), a state-owned drug producer, jumped 24 percent to 255 rupiah, the highest close since March 5, 2008. Affiliate PT Indofarma (INAF IJ) surged 17 percent to 96 rupiah.
Domestic pharmaceutical sales will likely rise 11 percent in 2011 from a year earlier to $4.4 billion, Kontan reported on its website today, citing Luthfi Mardiansyah, chairman of the International Pharmaceutical Manufacturers Group. Mardiansyah couldn’t be reached when called at his office today. The fundamentals of small-cap stocks like Kimia Farma are “improving,” said John Teja, head of sales at PT Ciptadana Securities in Jakarta.
PT Multistrada Arah Sarana (MASA IJ), a tire producer, rose 1.9 percent to 530 rupiah. The company may invest $300 million to $500 million in the next four years to boost production capacity, Kontan reported, citing President Director Pieter Tanuri. Tanuri couldn’t be reached when called at his office.
PT Timah (TINS IJ), Indonesia’s largest tin-mining company, gained 3.1 percent to 2,475 rupiah, the steepest advance since April 8. Shareholders approved a dividend payout of 50 percent of last year’s net income, or a cash dividend of 94.17 rupiah a share, the company said in a statement today.
PT Tower Bersama Infrastructure (TBIG IJ), an Indonesian provider of infrastructure services to wireless carriers, rose 4.4 percent to 2,400 rupiah, the biggest increase since April 7. Tower Bersama signed a conditional agreement to buy 100 percent of PT Mitrayasa Sarana Informasi, or Infratel, a Jakarta-based, privately owned telecommunications tower provider, Tower Bersama said in an e-mailed press release.
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