Shares in Indonesian investment company PT Bhakti Investama Tbk rose as much as 5.1 percent on higher-than-expected full-year earnings.
The company reported a net income of 679 billion rupiah ($69.89 million) for 2012, up 178 percent on year, while revenue rose 25 percent to 9.6 trillion rupiah.
Revenue contribution from content and advertising-based media business rose 17 percent to 6.2 trillion rupiah, it said in a statement.
“Acquiring a healthy commercial bank, developing infrastructure and solidifying performance in energy and natural resources sector will lead the way to capture next economics dynamic in Indonesia,” Bhakti Investama said on Wednesday.
Bhakti Investama had on Monday said it is in talks with several local banks, after media reported it is eyeing Bank Windu Kentjana International and Bank ICB Bumiputera .
At 0351 GMT, shares were up 3.03 percent at 510 rupiah with the second highest volume of 84.5 million shares, while the broader Jakarta Composite Index was up 0.27 percent.
$1 = 9,715 rupiah Reporting by Andjarsari Paramaditha, Editing by Sunil Nair