Benakat, Medco, Timah, Wijaya Karya: Indonesia Equity Preview
Shares of the following companies may have unusual moves in Indonesian trading. Stock symbols are in parentheses, and share prices are as of the previous close.
The Jakarta Composite index (JCI) fell 3.2 percent to 3,316.14.
Energy companies: Crude oil futures gained as much as 1.8 percent to $81.70 a barrel in after-hours trading in New York as of 8:55 a.m. Jakarta time, extending yesterday’s rise.
PT Medco Energi Internasional (MEDC IJ), the nation’s biggest listed oil company, sank 5.8 percent to 2,050 rupiah, PT Benakat Petroleum Energy (BIPI IJ) declined 2.1 percent to 94 rupiah.
PT Jasa Marga (JSMR IJ): Indonesia’s biggest toll-road operator may increase the tariffs on its 11 toll roads by as much as 11 percent, Investor Daily Indonesia reported, citing Frans Sunito, president director at the company. Jasa Marga fell 2.8 percent to 3,500 rupiah.
PT Timah (TINS IJ): Indonesia, the biggest exporter of tin, will halt overseas shipments from Oct. 1 in a bid to support prices of the metal, said Johan Murod, director at PT Bangka Belitung Timah Sejahtera, a group of six smelters. Exports will resume if the price goes to $25,000 a metric ton, according to Murod. Twenty eight companies including Timah, the biggest producer, agreed on the export-halt, Murod said. Timah slmped 9.1 percent to 1,700 rupiah.
PT Wijaya Karya (WIKA IJ): The state-construction company has allocated as much as 1 trillion rupiah ($112 million) to develop its three power plant projects, Investor Daily Indonesia reported, citing President Director Bintang Perbowo. Wijaya Karya declined 3.1 percent to 465 rupiah.
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