Indonesian Equity Movers: Intiland Development, Panorama, Timah
The Jakarta Composite index slid 0.1 percent to 4,163.72.
PT Intiland Development (DILD) , a property developer, rose 2.6 percent to 390 rupiah. The company is seeking a bank loan of about 840 billion rupiah ($92 million) to help fund this year’s capital expenditure of as much as 1.4 trillion rupiah, Investor Daily Indonesia reported, citing Theresia Rustandi, corporate secretary at the company. Rustandi couldn’t be reached when called at her office.
PT Panorama Transportasi (WEHA) , a tourism bus and taxi operator, added 1.9 percent to 160 rupiah, the highest close since Feb. 29. The company added 200 premium-class taxis, bringing its total transportation fleet to more than 1,000 units, Kontan reported, citing Budi Tirtawisata, chief executive officer of Panorama Group. Two calls to the company’s office weren’t answered.
PT Timah (TINS) , Indonesia’s biggest tin producer, rose 4 percent to 1,820 rupiah, the most since Feb. 8. The company expects output to rise to as much as 45,000 tons this year from about 38,000 tons in 2011, Director Abrun Abubakar said. Timah shareholders appointed today Sukrisno, former president director of state-owned coal miner PT Tambang Batubara Bukit Asam, as the new president director, replacing Wachid Usman.
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