Maxis eligible for fast entry into FBM KLCI

Bursa Malaysia announced yesterday that Maxis Bhd will be eligible for fast entry into the FTSE Bursa Malaysia Kuala Lumpur Composite Index in accordance with the FTSE Bursa Malaysia Index ground rules.

This is because Maxis' full market capitalisation is expected to exceed 2 per cent of the full capitalisation of the FTSE Bursa Malaysia Emas Index, it said in a statement.

It said that several changes in the FTSE Bursa Malaysia Index series will take effect on November 20, subject to the listing of Maxis on November 19.

On the changes, Bursa Malaysia said Maxis will be added to the FTSE Bursa Malaysia KLCI with a shares in issue total of 7.5 billion and an investability weighting of 30 per cent.

Malaysian Airline System Bhd (MAS) will be removed from the index, it said.

MAS will be added to the FTSE Bursa Malaysia Mid 70 Index with a shares-in-issue total of 1.671 billion and an investability weighting of 30 per cent.

Tradewinds (M) Bhd will also be removed from the index, Bursa Malaysia said.

Tradewinds will be added to the FTSE Bursa Malaysia Small Cap Index with shares-in-issue total of 296.470 million and investability weighting of 30 per cent.

The changes will be simultaneously reflected in the FTSE Bursa Malaysia Top 100 Index and the FTSE Bursa Malaysia EMAS Index.

Bursa Malaysia said Maxis will also be eligible for inclusion in the FTSE Bursa Malaysia Emas Shariah Index and the FTSE Bursa Malaysia Hijrah Shariah Index at the next semi-annual review in December, subject to it passing the Shariah Advisory Council and/or the Yasaar screening methodology. - Bernama