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Indonesia Stock Movers: Bank Bukopin, Chandra Asri, Semen Gresik

Nov. 23 (Bloomberg) -- Shares of the following companies had unusual moves in Indonesian trading. Stock symbols are in parentheses and prices are as of the close in Jakarta.

The Jakarta Composite index fell 1.3 percent to 3,687.01.

PT Bank Bukopin (BBKP IJ), an Indonesian lender, retreated 4.7 percent to 610 rupiah. Bukopin’s net income of 458 billion rupiah ($50 million) in the nine months through September was “slightly” lower than the consensus estimate, PT Kim Eng Securities wrote in a note. The bank is forecast to post full-year net income of 644 billion rupiah, Kim Eng said.

PT Semen Gresik (SMGR IJ), Indonesia’s largest cement producer, dropped 3.9 percent to 8,750 rupiah, closing at the lowest level since Oct. 21. The nation’s domestic cement demand growth will likely slow to 4 percent to 5 percent next year, from an estimated 16 percent this year, Semen Gresik President Director Dwi Soetjipto said today.

PT Chandra Asri Petrochemical (TPIA IJ), a petrochemical producer, fell 3.9 percent to 2,500 rupiah. Investor Daily Indonesia reported the company plans to raise as much as $350 million selling new shares in a rights offer next year. Selling new shares may dilute the stake of existing shareholders. Chandra Asri Director Suryandi couldn’t be reached when called at his office in Jakarta.

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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