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Adaro, Gas Negara, United Tractors: Indonesia Equity Preview

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Sept. 22 (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 fell 1.5 percent to 3,697.49.

PT Adaro Energy (ADRO IJ): Indonesia’s second-largest coal producer has allocated $230 million to finance the construction of a 2,000-megawatt power plant in Pemalang, in Central Java province, Investor Daily Indonesia reported, citing Director Andre Mamuaya. Adaro retreated 1 percent to 1,900 rupiah.

PT Perusahaan Gas Negara (PGAS IJ): Indonesia is reviewing the possibility of reducing natural gas sales to Singapore to secure supplies to the domestic market, Bisnis Indonesia reported, citing Coordinating Minister for the Economy Hatta Rajasa. Gas Negara, Indonesia’s biggest distributor of the fuel, fell 2.9 percent to 2,525 rupiah.

PT United Tractors (UNTR IJ): Indonesia’s biggest heavy-equipment seller is targeting a 56 percent increase in coal production next year to 7 million metric tons as new mines start output, Bisnis Indonesia reported, citing President Director Djoko Pranoto. United Tractors declined 3.7 percent to 22,150 rupiah.

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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