Saturday, March 13, 2010

CapitalMalls Asia to replace Cosco in STI after half-yearly review

The Singapore Exchange has announced that CapitalMalls Asia Limited will replace Cosco Corp Singapore in STI after half-yearly review. After this news is official, CaitalMalls Asia ended higher by 1.282% to close at $2.370 whereas Cosco Corp ended lower by 2.830% to close at $1.230.

The STI reserve list, comprising the five highest ranking non-constituents of the STI by market capitalisation, will be (in order of size) Keppel Land Ltd, Yangzijiang Shipbuilding Holdings Ltd, Ascendas Real Estate Investment Trust, Yanlord Land Group Ltd and Parkway Holdings Ltd. Companies in the reserve list will replace any constituents that become ineligible as a result of corporate actions before the next review.

The possibility of CapitalMalls Asia entry into the STI is one of the main reasons as to why I bought the shares a week ago. I am also glad that Parkway Holdings is mentioned even though it is in the reserve list. Parkway Holdings is still in a strong position at $3.110 per share.

CapitaMalls Asia to join STI after half-yearly review [via]

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