GLP replaces SMRT Corp on STI

Global Logistic Properties (GLP) will be joining the Straits Times Index (STI), the Singapore Exchange’s (SGX) benchmark of the country’s 30 biggest listed companies, replacing SMRT Corp.

As part of the half-yearly review by Singapore Press Holdings (SPH), SGX, and the FTSE Group, SMRT will now join the FTSE Mid-Cap Index.

The STI reserve list, comprising the 5 highest-ranking non-constituents in order of market capitalisation will be Yangzijiang Shipbuilding Holdings, Keepel Land, Cosco Corp Singapore, CapitaCommercial Trust and Ascendas Real Estate Investment Trust.

Companies in this reserve list will replace any constituent that becomes ineligible as a result of corporate actions before the next review.

Changes were also announced to other FTSE ST Indices.

For the FTSE ST China Top Index, Keppel Land, Guocoland, Hi-P International and China Minzhong Food Corp will replace Raffles Education Group, Oceanus Group, China XLX Fertiliser and China Hongxing Sports.

All changes will take effect from the start of trading on March 21.

The next review is scheduled for September 8.

Source : Channel NewsAsia – 10 Mar 2011

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