Aug. 23 (Bloomberg) -- 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.
The Jakarta Composite index slid 0.1 percent to 3,839.62.
PT Bumi Resources (BUMI IJ): Indonesia’s biggest coal producer said it plans to buy back as many as 780 million shares valued at as much as 3.9 trillion rupiah ($456 million). Bumi will buy back the shares within a maximum of 18 months once it gets approval from shareholders, the company said. A shareholders meeting is scheduled for Sept. 26, it said. Bumi declined 3.7 percent to 2,600 rupiah.
PT Multistrada Arah Sarana (MASA IJ): The tire producer plans to form a venture with a Japanese investor to develop 33,000 hectares of rubber plantations in East Kalimantan province, Investor Daily reported, citing an unidentified person. The Japanese investor wasn’t identified in the report. Multistrada dropped 1.9 percent to 520 rupiah.
PT Nusantara Infrastructure (META IJ): The construction company plans to refinance as much as 740 billion rupiah of debt through PT Bank Central Asia (BBCA IJ), Bisnis Indonesia reported, citing Finance Director Omar Danni Hasan. Nusantara Infrastructure rose 2.4 percent to 210 rupiah and Bank Central Asia, Indonesia’s largest bank by market value, fell 3.1 percent to 7,750 rupiah.
PT Sidomulyo Selaras (SDMU IJ): The Indonesian transporter of hazardous chemical materials targets 100 percent growth in net income this year to 18 billion rupiah, supported by contracts in the second half, Bisnis Indonesia reported, citing Corporate Secretary Jonathan Walewangko. Sidomulyo declined 1.8 percent to 275 rupiah.
To contact the reporter on this story: Berni Moestafa in Jakarta at email@example.com
To contact the editor responsible for this story: Darren Boey at firstname.lastname@example.org