by TMR / pic by TMR FILE
MR DIY Group (M) Bhd has been included as one of the 30 constituents of the FTSE Bursa Malaysia KLCI, replacing rubber glove maker Supermax Corp Bhd, following
Bursa Malaysia and FTSE Russel semi annual review.
The changes will be applied on Jun 21.
“The FTSE Bursa Malaysia KLCI reserve list, comprising the five highest-ranking non-constituents of the index by market capitalisation, will be Westports Holdings, QL Resources, Supermax, Kossan Rubber and Inari Amertron,” the exchange noted in a statement yesterday.
Bursa added five new constituents to FTSE Bursa Malaysia Mid 70 Index namely D&O Green Technologies Bhd, Greatech Technology Bhd, Hong Leong Industries Bhd, Supermax and UMW Holdings Bhd while the FTSE Bursa Malaysia Hijrah Shariah Index welcomed MR DIY Group and Press Metal Aluminium Holdings Bhd.
CGS-CIMB Research in a note today stated the inclusion of MR D.I.Y comes following a sharp rise in its share price since its listing on Oct 26, 2020.
Supermax and Inari Amertron Bhd will replace MR D.I.Y and KLCCP positions in the KLCI reserve list, joining Westports, Kossan Rubber and QL Resources, which retain their spots in the list.
“We anticipate some rejigging by fund managers given the changes in the KLCI, the FBM70 and FBM Hijrah Shariah lists, benefitting MR D.I.Y, Press Metal, D&O Green Technologies, Greatech, UMW Holdings and Hong Leong Industries, while posing potential selling pressure on Supermax, Datasonic, Ekovest, KLCCP, IOI Properties Group and Yinson.
“We reiterate our KLCI target of 1,709 pts for end-2021F and our top three picks are Inari, Public Bank and Telekom Malaysia,” said CGS-CIMB.