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Indonesia Stocks: Bumi Resources, Garuda Indonesia, Tiga Pilar

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 advanced 58.30 points, or 1.5 percent, to 3,888.57, a record close. The gauge extended its increase this quarter to 5.7 percent. The market was closed yesterday for a holiday.

PT Bumi Resources (BUMI IJ), Indonesia’s largest coal producer, declined 1.7 percent to 2,950 rupiah, the lowest close since March 2. China Investment Corp. has asked Bumi to pay in cash if the coal producer exercises an option to settle $600 million of debt ahead of schedule in October, Bisnis Indonesia reported, without saying where it got the information. The news is negative for Bumi, PT Kim Eng Securities wrote in a note. Bumi Director Dileep Srivastava hadn’t replied to an e-mail seeking confirmation.

PT Garuda Indonesia (GIAA IJ), the nation’s largest airline, rose 1.9 percent to 530 rupiah as it signed a $55 million term loan due June 2013, according to data compiled by Bloomberg. The facility pays a margin of 425 basis points more than the London interbank offered rate and proceeds will be used for general corporate purposes, the data show.

PT Tiga Pilar Sejahtera Food (AISA IJ) rose 1.5 percent to 660 rupiah, climbing for a second day. The instant-noodle maker won a tender to acquire a plant and the brand of a snack product owned by an overseas company, Investor Daily Indonesia reported, citing Yulianni Liyuwardi, the company’s corporate secretary. Liyuwardi couldn’t be reached when called at her office.

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