Indonesia Stocks: Astra International, Elnusa, Trias Sentosa
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) slipped 12.54 points, or 0.3 percent, to 3,788.54, falling for the first time in four days.
PT Astra International (ASII IJ), Indonesia’s largest automotive retailer, retreated 1.6 percent to 54,900 rupiah, the sharpest drop since April 14. Toyota Motor Corp., whose vehicles Astra sells, said April 22 it expects production to return to normal by December at the latest following Japan’s record earthquake and tsunami. “Impact on Astra will be lower car sales in the coming months as a result of lower production,” Sarina Lesmina, a Jakarta-based analyst at CLSA Asia-Pacific Markets, wrote in a note today.
PT Elnusa (ELSA IJ), an Indonesian oil services provider, fell 3.2 percent to 300 rupiah, the most since April 5. Elnusa said yesterday it suspended its finance director pending a police probe into irregularities involving a 111-billion-rupiah ($12.9 million) bank deposit.
PT Trias Sentosa (TRST IJ), a producer of biaxially- oriented polypropylene films, surged 24 percent to 385 rupiah, the steepest increase since April 23, 2010. Trias Sentosa will pay a cash dividend of 20 rupiah a share, PT Sucorinvest Central Gani wrote in a note to clients today. President Director Sugeng Kurniawan didn’t reply to an e-mail seeking confirmation and couldn’t be reached when called at his office in Sidoarjo in East Java.
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