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Indofood CBP, Mandiri, Semen Gresik: Indonesian Equity Preview

June 27 (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 0.6 percent to 3,881.40.

Cement companies: Indonesia’s first-half domestic cement demand may increase 15 percent to 16 percent, Eriza Bakar, a director at PT Semen Gresik (SMGR IJ), the nation’s biggest maker of the building material, said. Semen Gresik may spend 6.96 trillion rupiah ($733 million) to build two plants in Sumatra and Java, President Director Dwi Soetjipto said.

Semen Gresik advanced 0.4 percent to 11,300 rupiah, PT Indocement Tunggal Prakarsa (INTP IJ), Indonesia’s second-largest cement producer, gained 1.5 percent to 16,950 rupiah, and PT Holcim Indonesia (SMCB IJ), the third biggest, was unchanged at 2,375 rupiah.

PT Bank Mandiri (BMRI IJ): Indonesia’s largest bank by assets is considering expanding its business into Myanmar, Vietnam and Thailand as it seeks to become the third biggest lender in Southeast Asia by 2020, Investor Daily Indonesia reported, citing Vice President Director Riswinandi. Bank Mandiri fell 0.7 percent to 6,950 rupiah.

PT Indofood CBP Sukses Makmur (ICBP IJ): Wheat futures for September delivery rose to a nine-month high of $7.5525 a bushel in Chicago yesterday before settling up 0.8 percent at $7.47. Indofood CBP, Indonesia’s largest instant-noodle maker that uses wheat in its production, was unchanged at 5,700 rupiah.

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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