Adaro, Indika, Pembangunan Perumahan: Indonesia 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 gained 0.4 percent to 3,496.17.
Coal producers: Power-station coal prices at Australia’s Newcastle port, an Asian benchmark, rose 3.6 percent to $127.43 a metric ton in the week ended Feb. 4. PT Adaro Energy (ADRO IJ), Indonesia’s second-largest producer of the fuel, fell 2 percent to 2,450 rupiah and PT Indika Energy (INDY IJ), which controls the nation’s third-biggest coal mining company, rose 0.6 percent to 4,225 rupiah.
PT Bumi Resources (BUMI IJ): Indonesia’s largest coal producer is planning to repay $600 million of debt to China Investment Corp. this year, Kontan reported, citing Director Dileep Srivastava. The repayment to CIC is part of Bumi’s plan to reduce debt by as much as $1 billion in 2011, the newspaper reported. Bumi slipped 0.9 percent to 2,850 rupiah.
PT Pembangunan Perumahan (PTPP IJ): The state construction company has received four contracts valued at 1.29 trillion rupiah ($144 million) to build roads, a hotel and power plant, Investor Daily Indonesia reported, citing President Director Musyanif. Pembangunan Perumahan rose 1.6 percent to 620 rupiah.
PT Timah (TINS IJ): Tin for three-month delivery gained 2.1 percent to $31,200 a metric ton in London on Feb. 4, closing at a record. Timah, Indonesia’s largest producer of the metal, was unchanged at 2,875 rupiah.
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