Indonesia Stocks: Astra Agro, Bank Rakyat, Matahari, Multipolar
Shares of the following companies had unusual moves in Indonesian trading. Stock symbols are in parentheses, and prices are as of the 4 p.m. Jakarta-time close.
The Jakarta Composite index was little changed, gaining 0.02 points to 3,416.79. The market was closed yesterday for a public holiday.
PT Astra Agro Lestari (AALI IJ), the nation’s biggest listed plantation company by market value, declined 3 percent to 22,300 rupiah, the sharpest drop since Jan. 24. Palm oil futures fell as much as 3.5 percent to 3,796 ringgit ($1,247) a metric ton in Kuala Lumpur, retreating for a second day. Astra Agro plants only oil palm trees.
PT Bank Rakyat Indonesia (BBRI IJ), Indonesia’s second- largest bank by assets, advanced 2.2 percent to 4,750 rupiah, the steepest increase since Jan. 26. The company may sell subordinated bonds in the second half of this year to boost lending, President Director Sofyan Basir said.
PT Matahari Putra Prima (MPPA IJ), a retail company, jumped 17 percent to 1,690 rupiah, the biggest gain since Oct. 5. Shareholders approved a cash dividend of 4.5 trillion rupiah ($505 million). The company has already paid 2.9 trillion rupiah as an interim dividend, and will distribute the remaining 1.6 trillion rupiah, or 300 rupiah per share, to be paid in March 2011, Matahari said.
PT Multipolar (MLPL IJ), the Indonesian retailer, increased 5.8 percent to 275 rupiah, the steepest advance since Jan. 12. Multipolar plans to open three Robbinz department stores and four hypermarkets in China this year at an estimated investment of $70 million, Kontan reported, citing Chrysologus RN Sinulingga, corporate secretary at the company. Sinulingga couldn’t be reached when called at his office in Jakarta.
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