Top Glove, AMMB to replace Telekom, KLCCP Stapled in KLCI

According to AmBank Research, competition in the local cellular telco segment is expected to remain intense over the medium term, as repackaged data plans make their way to the market while the fixed broadband segment is expected to see rising pressure to improve price and speed.

KUALA LUMPUR: Top Glove Corporation Bhd and AMMB Holdings Bhd will be included in the FTSE Bursa Malaysia KLCI with effect from Dec 24, taking over from Telekom Malaysia Bhd and KLCC Prop & REITS – Stapled Securities.

FTSE Russell and Bursa Malaysia announced on Thursday the changes to the 30-stock KLCI after the semi-annual review of the FTSE Bursa Malaysia Index Series on Thursday.

The FBM KLCI  is widely used by investors as the primary benchmark for the Malaysian market, including derivatives through FTSE Bursa Malaysia KLCI Futures (FKLI), FTSE Bursa Malaysia KLCI Options (OKLI). 

The benchmarks are also tracked by a number of index-linked financial products, such as exchange traded funds.

“The FBM KLCI reserve list, comprising the five highest ranking non-constituents of the index by market capitalisation, will be used in the event that one or more constituents are deleted from the KLCI during the period up to the next semi-annual review in June 2019.

“The reserve list are Westports Holdings, YTL Corp, Fraser & Neave Holdings, QL Resources and Lotte Chemical Titan Holdings,” they said in a joint statement. 

The new additions for the FTSE Bursa Malaysia Mid 70 Index are Telekom Malaysia, UMW Holdings, Carlsberg Brewery Malaysia, Aeon (M), Boustead Plantations, Hibiscus Petroleum and Matrix Concepts Holdings. 

As a result, Top Glove, AMMB Holdings, Gas Malaysia, Hong Leong Industries, MMC, TA Global and Ta Ann Holdings will be deleted from the FTSE Bursa Malaysia Mid 70 Index.

For the FTSE Bursa Malaysia Hijrah Shariah Index, new additions are Petronas Dagangan, UMW Holdings and Serba Dinamik Holdings. 

Top Glove, IOI Properties Group and Sapura Energy will be deleted from the FTSE Bursa Malaysia Hijrah Shariah Index.