Indonesian Equity Movers: Bank Internasional, Berlina, Ramayana
The Jakarta Composite index rose 0.6 percent to 4,219.30, closing at a record.
PT Bank Internasional Indonesia (BNII) , a unit of Malaysia’s biggest bank by assets, Malayan Banking Bhd., rose 1.1 percent to 480 rupiah. The company’s financing unit, PT BII Finance Center, plans to sell 500 billion rupiah ($54.4 million) of bonds on May 30 to June 1 to boost lending to consumers for vehicle purchases, it said in a statement published in Bisnis Indonesia.
PT Berlina (BRNA) , a maker of plastic containers for the cosmetics, pharmaceuticals and mineral water industries, surged 25 percent to 2,900 rupiah, its steepest increase since Aug. 21, 2008. The company said first-quarter net income jumped to 13.62 billion rupiah from 4.6 billion rupiah a year earlier.
PT Ramayana Lestari Sentosa (RALS) , a retailer, increased 8.1 percent to 940 rupiah, the highest close since Oct. 28, 2010. Ramayana’s cost pressure has subsided after consignment sales gained in the first quarter, Erwan Teguh and Cindy Effendi, analysts at CIMB Group Holdings Bhd., wrote in a note dated yesterday. At current valuations, investors have yet to price in the company’s turnaround, according to the note.
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