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STOCKS NEWS INDONESIA-Index falls, Astra slips on motorbike sales data
January 10, 2013 / 9:35 AM / 5 years ago

STOCKS NEWS INDONESIA-Index falls, Astra slips on motorbike sales data

Indonesia’s stock market dropped 1.04 percent on Thursday, dragged down by automaker Astra International which fell as much as 5.19 percent.

Banks shares also contributed to the decline with state-lender Bank Mandiri falling 2.42 percent and Bank Central Asia down 2.2 percent.

Motorbike sales in Indonesia fell about 12 percent in 2012 from a year earlier after the government imposed higher down payment requirements for auto purchases in June, industry data showed.

Indonesia imposed higher down payment requirements for auto purchases to decelerate the growth of consumer loans in the G20 economy.

Consumer loans grew 18.9 percent in October, slowing from 19.9 percent in the previous month, according to data from Bank Indonesia.

Astra shares closed down 4.55 percent at 7,350 rupiah with the highest turnover of the day.

1405 (0905 GMT) (Reporting by Andjarsari Paramaditha, Editing by Anupama Dwivedi) *************************************************************** 15:08 STOCKS NEWS INDONESIA-Wijaya Karya hits record high on expansion plan boost

Shares of state-backed construction firm PT Wijaya Karya soared as much as 7 percent and hit a record high of 1,700 rupiah on Thursday, following positive reactions to the company’s expansion plan.

Wijaya Karya plans to start working on a housing project worth 900 billion rupiah ($93.22 million) in Algeria early next year and spend another 900 billion rupiah to develop a 100 megawat power plant, corporate secretary Natal Argawan said.

“The company’s position as the sector’s most diversified construction company lowers its risk on payment defaults on construction services. Going forward, revenues will still come from construction, EPC, concrete products and investment,” said Anthony Alexander, an analyst at Bahana Securities, while rating the stock a ‘buy’.

Wijaya Karya shares were up 3.7 percent at 1,650 rupiah. The broader Jakarta Composite index was down 0.8 percent.

1505 (0805 GMT) (Reporting by Andjarsari Paramaditha, Editing by Sunil Nair) *************************************************************** 09:55 STOCKS NEWS INDONESIA-Saraswati Griya soars on debut

Shares in PT Saraswati Griya Lestari Tbk jumped as much as 43.24 percent after its trading debut on Thursday. The Indonesian hotel operator issued 550 million new shares for its initial public offering, priced at 185 rupiah per share, aiming to raise 102 billion rupiah ($10.56 million) Saraswati Griya, the second company to list on the Indonesian stock exchange this year, operates luxury hotels in Java and Bali and will use the IPO proceedings for business expansion.

Valbury Asia Securities was the lead underwriter for the IPO.

The stock was trading at 199 rupiah with a volume of 87.9 million shares. The Jakarta Composite Index was down 0.7 percent. ($1 = 9,660 rupiah) 0952 (0252 GMT) (Reporting by Andjarsari Paramaditha; Editing by G.Ram Mohan)

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