JAKARTA (Yosefardi) – Composite index of the Indonesia Stock Exchange (IDX) ended down 0.1% to 4842 Monday (June 23), retreated from its morning gain. The index moved at range of 4840 to 4868.
Investors focused selling shares of giant coal miner PT Bumi Resources Tbk (BUMI). BUMI then plummeted 14.38% to Rp131 with over 102 million shares exchanged hands.
In the past three trading days, BUMI had lost more than 26% on debt concern. Bumi proposes to bondholders to let it repaying $375 million of notes within seven years instead of seven weeks.
Unfortunately, the bondholders meeting scheduled on Friday last week did not achieve the requisite quorum. The bondholders meeting has been dissolved and no amendments to the Trust Deed will be carried out.
The Bonds currently mature on 5 August 2014. Bonds which are currently blocked in the clearing systems will be unblocked.
Coal miner Adaro Energy also fell 2.53%, Alam Sutera declined 2.4%, Sentul City dropped 7.07%, and Bumi Serpong Damai shed 3.19%.
Other losers were Bank Tabungan Negara (-1.45%), Adhi Karya (-3.28%), Multipolar (-3.4%), and Matahari Putra Prima (-4.84%).
Among gainers were Astra International (+1.05%), Kalbe Farma (+1.54%), and Telkom (+1.87%).
Nymex’s crude oil increased 0.25% to US$107.10 per barrel while gold inched down 0.05% to US$1,316 per ounce. The rupiah was traded flat at Rp11,971 against the US Dollar.