Indonesia Stocks: Astra Agro, Bank Mandiri, Sinar Mas Multiartha
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 (JCI) advanced 29.68 points, or 0.8 percent, to 3,849.30, closing at a record for a fourth day.
PT Astra Agro Lestari (AALI IJ), the nation’s biggest listed plantation company by market value, gained 3.7 percent to 24,000 rupiah, the sharpest increase since Jan. 25. The company allocated as much as 516 billion rupiah ($60 million) to build four palm oil processing plants, Bisnis Indonesia reported. Tonny Hermawan Koerhidayat, vice president director at Astra Agro, didn’t return a call and a mobile-phone text message.
PT Bank Mandiri (BMRI IJ), Indonesia’s biggest bank by assets, climbed 2.8 percent to 7,350 rupiah, the highest close since its July 2003 trading debut. Mandiri said first-quarter net income jumped 89 percent from a year earlier to 3.78 trillion rupiah as lending expanded and after it sold a stake in state airline PT Garuda Indonesia.
PT Elang Mahkota Teknologi (EMTK IJ), a television company, rose 3.8 percent to 1,660 rupiah, the highest close since its January 2010 trading debut. Elang said it plans to buy as many as 1.47 billion shares of PT Indosiar Karya Media (IDKM IJ) at 900 rupiah to 1,040 rupiah each, according to a statement published in Bisnis Indonesia. Indosiar gained 1.1 percent to 920 rupiah.
PT Sinar Mas Multiartha (SMMA IJ), an insurance company, increased 18 percent to 3,300 rupiah, the highest close since January 1999. Mitsui Sumitomo Insurance Co. said today it will spend 7 trillion rupiah to buy 50 percent of PT Asuransi Jiwa Sinarmas, a unit of Sinar Mas.
To contact the reporter on this story: Berni Moestafa in Jakarta at firstname.lastname@example.org
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