Indonesian Stocks: Benakat Petroleum, Energi Mega, Sumalindo

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 1.1 percent to 3,901.79, the first drop in five days.

Energy companies: PT Benakat Petroleum Energy (BIPI IJ) lost 1.1 percent to 188 rupiah. PT Energi Mega Persada (ENRG IJ) fell 1.4 percent to 137 rupiah. Oil futures in New York dropped as much as 1.9 percent in electronic trading to $79.92 a barrel.

Palm oil producers: PT Perusahaan Perkebunan London Sumatra Indonesia (LSIP IJ) dropped 1 percent to 2,575 rupiah and PT BW Plantation (BWPT IJ) lost 2.7 percent to 1,440 rupiah. Palm oil futures fell as much as 1.8 percent to 2,986 ringgit ($941) a metric ton in Kuala Lumpur, the first drop in four days.

PT Sumalindo Lestari Jaya (SULI IJ), an Indonesian plywood producer, fell 1.9 percent to 105 rupiah. The company may sell as much as 150 billion rupiah of new shares in a rights offer to raise working capital, Kontan reported, citing Vice President Director David. Selling new shares in a rights offer may dilute the stake of existing shareholders. David couldn’t be reached when called at his office.

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