Indonesia Stocks: Bank Mandiri, Medco, Radiant, United Tractors
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 45.68 points, or 1.1 percent, to a record close of 4,132.78.
PT Bank Mandiri (BMRI IJ), Indonesia’s biggest bank by assets, gained 2 percent to 7,850 rupiah, advancing for a third day. The bank agreed to provide an 11 trillion rupiah ($1.29 billion) loan to PT Pelabuhan Indonesia II to help the state- owned port operator build a terminal in North Jakarta, the bank said in an e-mailed statement today.
PT BW Plantation (BWPT IJ), a palm oil producer, gained 2.5 percent to 1,230 rupiah, the highest close since June 10. The company reported today first-half net income nearly doubled from a year earlier to 170.6 billion rupiah as sales increased.
PT Medco Energi Internasional (MEDC IJ), Indonesia’s biggest listed oil company, advanced 4.2 percent to 2,500 rupiah, the highest close since June 10. Medco said it signed a five-year, $150 million loan agreement with PT Bank Negara Indonesia (BBNI IJ) to refinance debt due in 2012. Bank Negara, a state-owned lender, added 3.7 percent to 4,175 rupiah.
PT Radiant Utama Interinsco (RUIS IJ), an Indonesian oil services company, jumped 9.3 percent to 295 rupiah, the sharpest increase since June 21. The company, through its affiliate PT Supraco Lines, signed an agreement yesterday to buy a mobile offshore production unit from Maleo MOPU Producer Inc. for $35 million.
PT United Tractors (UNTR IJ), Indonesia’s largest heavy equipment seller, climbed 2 percent to 25,750 rupiah, the highest close since at least August 1991. Sales in June rose to 742 units from 617 units in May and 507 units a year earlier, it said in an e-mailed statement.
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