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Ace Hardware, Krakatau Steel, Medco: Indonesia Equity Preview

Feb. 16 (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 rose less than 0.1 percent to 3,953.05.

Energy companies: Crude oil futures advanced to a one-month high yesterday, rising 1.1 percent to $101.80 a barrel. Oil last traded at $101.74 a barrel. PT Medco Energi Internasional (MEDC IJ), Indonesia’s biggest listed oil company, was unchanged at 2,250 rupiah and PT Energi Mega Persada (ENRG IJ), the second-largest, gained 1.1 percent to 189 rupiah.

PT Ace Hardware Indonesia (ACES IJ): The seller of tools and home-improvement products plans to open as many as 15 stores this year as it expects revenue to rise 25 percent to about 3 trillion rupiah ($331 million), the Jakarta Post reported, citing Corporate Secretary Helen Tanzil. Ace is allocating 150 billion rupiah for the new stores, the report said. The stock gained 1.7 percent to 4,425 rupiah.

PT Aneka Tambang (ANTM IJ): The company’s venture with PT Krakatau Steel (KRAS IJ), Meratus Jaya Iron & Steel, will start production in April, Kontan reported. The project’s smelter in Indonesia’s South Kalimantan province will have an annual capacity of 315,000 metric tons of sponge iron, the report said. Aneka, Indonesia’s second-biggest nickel producer, dropped 1 percent to 1,920 rupiah and Krakatau, Indonesia’s largest steel producer, was unchanged at 860 rupiah.

PT Summarecon Agung (SMRA IJ): The developer has earmarked as much as 700 billion rupiah to buy 200 hectares of land this year in six Indonesian cities, including Jakarta and Bandung in West Java province, Investor Daily Indonesia reported, citing President Director Johanes Mardjuki. The stock climbed 0.8 percent to 1,200 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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