Bumi Resources Shares Gain on First-Quarter Profit Speculation By Berni Moestafa
April 24 (Bloomberg) -- PT Bumi Resources, Indonesia's biggest coal miner, rose in Jakarta trading on speculation the company will report strong first-quarter earnings. Bumi added as much as 10 percent to 1,320 rupiah and was at 1,260 rupiah as of 11:12 a.m. local time. The stock was the most actively traded by value today on the Jakarta Composite index, which climbed 0.2 percent. "In the short term people are still betting on Bumi's first-quarter results," said Arief Budiman, an analyst at PT Optima Kharya Capital Securities. "Coal prices held up early this year but may decline in the third and fourth quarter." Bumi's coal selling price was "significantly" higher in the first quarter from a year earlier, Dileep Srivastava, head of investor relations, said on April 22. The Jakarta-based company is Asia's largest exporter of power-station coal. The shares also gained as their valuation remains attractive, said Budiman. The stock trades at a current price- to-earnings ratio of 3.47 compared with the benchmark stock index's 9.98. Regards, Hilman Kamaludin Account Executive ( Phone : 021 350 9777, 021 350 9888 ext. 2836 PT Danareksa Sekuritas ) Mobile : 0812 98 32179 Jl. Medan Merdeka Selatan No. 14 6 Fax : 021 350 1554 Jakarta Pusat 10110 * email : hilm...@danareksa.com <mailto:hilm...@danareksa.com> ************************************************************************ ************** DISCLAIMER: The information contained in or attached to this e-mail is confidential and may be legally privileged. It is intended for the named recipient(s) only. If you are not the named recipient, you are hereby notified that any distribution, copying, review, retransmission, dissemination or other use of this electronic transmission or the information contained in it is strictly prohibited. The information expressed herein may contain the private views and opinions of the sender that does not constitute the formal views and opinions of PT. Danareksa (Persero) and its subsidiaries, and should not in any ways be construed as the views, offers, or acceptances of these entities, unless specifically stated. PT. Danareksa (Persero) and its subsidiaries does not take any responsibilities nor accepts any claims of liabilities and/or damages for statements which are clearly the sender's own and not made on behalf of the entities concerned. **************** CONFIDENTIALITY: The information contained in or attached to this electronic transmission is confidential and may be legally privileged. It is intended for the named recipient(s) only. If you are not the named recipient, you are hereby notified that any distribution, copying, review, retransmission, dissemination or other use of this electronic transmission or the information contained in it is strictly prohibited. The information expressed herein may contain the private views and opinions of the sender that does not constitute the formal views and opinions of PT. Danareksa (Persero) and its subsidiaries, and should not in any ways be construed as the views, offers, or acceptances of these entities, unless specifically stated. PT. Danareksa (Persero) and its subsidiaries does not take any responsibilities nor accepts any claims of liabilities and/or damages for statements which are clearly the sender's own and not made on behalf of the entities concerned.
