MR DIY likely to replace Supermax in KLCI

 MR DIY likely to replace Supermax in KLCI

KUALA LUMPUR: Home improvement company MR D.I.Y. Group (M) Bhd is likely to be included in the FBM KLCI in the June 3 review, replacing Supermax Corporation Bhd, according to CGS-CIMB Equities Research.

The research house said on Tuesday that MR DIY met all the criteria for its inclusion based on the market data as at close of trading on Monday.

FTSE Russell is due to announce the results of its upcoming semi-annual review of FTSE Bursa Malaysia Index Series on June 3.

This review is followed closely by the market as it could have an impact on KLCI index-linked products like FTSE 30 ETF and KLCI index-linked funds.

Current KLCI constituents account for about 58% of the total market capitalisation as at May 21 closing.

It said FTSE Bursa Malaysia index ground rules stipulate that: 1) a security would be inserted in the FBM KLCI during the periodic review if its market cap has risen to the 25th position or above, and 2) a security would be deleted at the periodic review if it has fallen to the 36th position or below.

Apart from market capitalisation rankings, the other two criteria that companies need to meet for inclusion in the KLCI are (1) free float of 15% and above, as well as (2) liquidity.

In its assessment of market data as at the end of Monday, MR DIY has risen to the 20th position in terms of market cap ranking, satisfying the rules for inclusion into the KLCI index.

“As…

Read more…www.thestar.com.my

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