SC approves more Islamic stocks

  • Business
  • Saturday, 29 Oct 2005

THE Securities Commission’s (SC) Syariah Advisory Council has approved an additional 51 newly classified securities as syariah-compliant, bringing the total number of these securities to 857. 

Based on the current list, syariah-compliant securities accounted for 85% of the 1,011 listed securities on Bursa Malaysia, the SC said in a statement. 

However, 12 securities in the previous list had been excluded. 

They were Amanah Harta Tanah PNB, AmFirst Property Trust, Dai Hwa Holdings (M) Bhd, Encorp Bhd, Golden Plus Holdings Bhd, Hi-City Bioscience Group Bhd, Idaman Unggul Bhd, IGB Corp Bhd, Inch Kenneth Kajang Rubber Public Ltd Co, Malaysia Packaging Industry Bhd, Sarawak Enterprise Corp Bhd and Warisan TC Holdings Bhd

New securities that had assumed the listing status of previously syariah-compliant securities were Aliran Ihsan Resources Bhd for delisted RNC Corp Bhd and Kosmo Technology Industrial Bhd for delisted Nauticalink Bhd. 

The SC said syariah-compliant securities were also well represented in all sectors of the industry. 

There are 129 such securities out of 141 securities under consumer products, 289 out of 306 for industrial products, 166 out of 205 for trading/services, 82 out of 101 for properties, 41 out of 45 for plantation, 79 out of 83 for technology, seven out of nine for infrastructure and four out of 54 for finance. 

The entire 59 securities for construction are syariah-compliant as well as the sole security for mining while there was none under hotels and closed-end fund. 

The SC said the updated list of syariah-compliant securities took effect from yesterday. The full list is available on the SC website at – Bernama 

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