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AKR, Bank Danamon, Gresik, Indomobil: Indonesian Equity Preview

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 1.1 percent to 4,166.07.

Energy companies: Crude oil futures advanced the most in almost six weeks, adding 2.2 percent to $105.23 a barrel in New York yesterday. Oil was last at $105.05. PT Medco Energi Internasional (MEDC IJ), Indonesia’s biggest listed oil company, fell 1.2 percent to 2,125 rupiah. PT Energi Mega Persada (ENRG IJ), the second largest, rose 3.8 percent to 190 rupiah.

PT AKR Corporindo (AKRA IJ): A unit of the company won a one-year contract to supply 1.3 million tons of coal from its mine in Central Kalimantan province to an international trader of the fuel, Investor Daily Indonesia reported, citing President Director Haryanto Adikoesoemo. AKR, a distributor of fuel and chemicals, was unchanged at 4,300 rupiah.

PT Bank Central Asia (BBCA IJ): Indonesia’s biggest bank by market value plans to add 3,000 ATMs this year, Investor Daily Indonesia reported, citing President Director Jahja Setiaatmadja. The bank plans to expand its ATM network from the 8,578 units it owns to support growth of third-party funds and banking transactions, the report said. Bank Central Asia climbed 0.6 percent to 8,050 rupiah.

PT Bank Danamon Indonesia (BDMN IJ): DBS Group Holdings Ltd. offered to buy Danamon for about $7.2 billion. The Singapore-based lender will acquire a stake from Temasek Holdings Pte and offered to buy the remaining shares at 7,000 rupiah each, a 52 percent premium from Danamon’s last price. Danamon, whose shares were suspended yesterday, requested the trading suspension be lifted today. The stock rose 2.2 percent to 4,600 rupiah.

PT Bayan Resources (BYAN IJ): The Indonesian coal producer has approached banks seeking to borrow about $750 million, according to three people familiar with the matter. Bayan was unchanged at 17,900 rupiah.

PT Indomobil Sukses Internasional (IMAS IJ): A unit of the company, PT Indomobil Finance, plans to sell 750 billion rupiah ($82 million) of bonds next month to fund its auto-financing business, the unit said in a statement published in Bisnis Indonesia today. Indomobil advanced 2.3 percent to 15,450 rupiah.

PT Semen Gresik (SMGR IJ): Indonesia’s largest cement maker will propose a dividend payout of 2 trillion rupiah, amounting to about half of last year’s profit, Investor Daily Indonesia reported, citing Finance Director Ahyanizzaman. Semen Gresik gained 1.2 percent to 12,400 rupiah.

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