{
    "success": true,
    "data": {
        "id": 1158687,
        "msgid": "stocks-fall-indosat-permata-drop-on-lower-profits-1447893297",
        "date": "2005-10-29 00:00:00",
        "title": "Stocks fall; Indosat, Permata drop on lower profits",
        "author": null,
        "source": "AP",
        "tags": null,
        "topic": null,
        "summary": "Stocks fall; Indosat, Permata drop on lower profits Bloomberg Jakarta Indonesian stocks fell, taking the index to a one-month low, after companies such as PT Indosat and PT Bank Permata reported declines in earnings. \"Earnings have been disappointing,\" said Bambang Setiadi, who helps manage about US$140 million at PT Sinar Mas Sekuritas in Jakarta.",
        "content": "<p>Stocks fall; Indosat, Permata drop on lower profits<\/p>\n<p>Bloomberg<br>\nJakarta<\/p>\n<p>Indonesian stocks fell, taking the index to a one-month low, <br>\nafter companies such as PT Indosat and PT Bank Permata reported <br>\ndeclines in earnings.<\/p>\n<p>\"Earnings have been disappointing,\" said Bambang Setiadi, who <br>\nhelps manage about US$140 million at PT Sinar Mas Sekuritas in <br>\nJakarta.<\/p>\n<p>\"This raises questions whether those who haven't reported yet <br>\nalso will disappoint.\"<\/p>\n<p>The Jakarta Composite Index fell 5.44, or 0.5 percent, to <br>\nclose at 1,058.26, the lowest since Sept. 29. Declining stocks <br>\nled gainers 43 to 34 on the benchmark. The index fell 1.7 percent <br>\nthis week, its second weekly slide.<\/p>\n<p>Indosat, Indonesia's second-biggest phone operator, lost Rp <br>\n150, or 3 percent, to Rp 4,900, the lowest close since Sept. 28. <br>\nAbout 37.3 million Indosat shares changed hands on Friday, more <br>\nthan four times the three-month daily average trading volume.<\/p>\n<p>The company posted a 58 percent decline in profit to Rp 232 <br>\nbillion ($23 million) in profit for the three months ended Sept. <br>\n30 because of foreign-exchange losses.<\/p>\n<p>Indosat posted a foreign-exchange loss on paper of Rp 238 <br>\nbillion in the third quarter after the rupiah depreciated 5.4 <br>\npercent in the three months ended Sept. 30, increasing the cost <br>\nof repaying the company's $378 million of overseas debt.<\/p>\n<p>Permata, a lender partly owned by Standard Chartered Plc, <br>\ndropped Rp 20, or 3.6 percent, to Rp 540, its biggest slide since <br>\nSept. 13.<\/p>\n<p>\"It was a much lower-than-expected performance,\" said Harris <br>\nDalimunthe, an analyst at PT BNI Securities in Jakarta.<\/p>\n<p>\"I will downgrade my earning estimates and may cut my <br>\nrecommendation\" from the current \"buy.\"<\/p>\n<p>PT Perusahaan Gas Negara, a gas distributor, gained Rp 50, or <br>\n0.9 percent, to Rp 5,400. Profit rose 20 percent in the nine <br>\nmonths ended Sept. 30 to Rp 427.3 billion after higher gas prices <br>\nbolstered revenue.<\/p>\n<p>PT Tambang Batubara Bukit Asam, Indonesia's state- controlled <br>\ncoal-miner, climbed Rp 50, or 2.9 percent, to Rp 1,800. The <br>\ncompany said last night net income in the nine months ended Sept. <br>\n30 rose 36 percent to Rp 364.9 billion as higher prices of the <br>\nfuel drove up sales.<\/p>\n<p>PT Timah, the world's biggest integrated tin-miner, dropped Rp <br>\n30, or 1.8 percent, to Rp 1,650. Net income declined 13 percent <br>\nin the nine months ended Sept. 30 to Rp 101.2 billion because of <br>\nlower tin prices, the company said on Thursday.<\/p>",
        "url": "https:\/\/jawawa.id\/newsitem\/stocks-fall-indosat-permata-drop-on-lower-profits-1447893297",
        "image": ""
    },
    "sponsor": "Okusi Associates",
    "sponsor_url": "https:\/\/okusiassociates.com"
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