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Astra, Bumi Resources, Gudang Garam: Indonesia Equity Preview

Nov. 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 2 percent to 3,679.83.

Cigarette producers: The government may raise the excise tax on cigarettes by between 8.3 percent and 51 percent starting Jan. 1, Bisnis Indonesia reported, citing a Finance Ministry document. PT Gudang Garam (GGRM IJ) fell 2.1 percent to 60,500 rupiah and PT Bentoel Internasional Investama (RMBA IJ) was unchanged at 790 rupiah.

PT Astra International (ASII IJ): Astra unit PT Surya Artha Nusantara Finance, which provides financing services for heavy equipment, plans to sell as much as 1.2 trillion rupiah ($132.6 million) of bonds at the end of this year to help expand its business, Bisnis Indonesia reported, citing Finance Director Andrijanto. Astra, Indonesia’s biggest auto retailer, lost 1.5 percent to 67,650 rupiah.

PT Bumi Resources (BUMI IJ): The coal producer’s nine-month net income increased to $228.8 million, from $195.5 million a year earlier, it said in a statement to the Indonesia Stock Exchange. Bumi, the nation’s largest producer, sank 5.7 percent to 2,075 rupiah.

PT Timah (TINS IJ): Tin for three-month delivery dropped 4.1 percent to $20,400 a metric ton in London yesterday, the most since Oct. 13. Timah, Indonesia’s biggest producer of the metal, declined 3.3 percent to 1,760 rupiah.

To contact the reporter on this story: Berni Moestafa in Jakarta at

To contact the editor responsible for this story: Darren Boey at

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