THE Philippine Stock Exchange (PSE) on Wednesday said there will be no changes in the composition of its 30-member benchmark index, or the PSEi, based on the review of listed companies covering trading activity from January 2014 to December 2014.
To be included in the PSEi, a listed firm should be among the top companies in terms of liquidity and full-market capitalization. A listed company should also have a free float level of at least 12 percent of its outstanding shares.
Meanwhile, the sector indices will see the addition of a total of 10 new firms and the exclusion of 15 companies. The Industrial Index will have two new members, Century Pacific Food Inc. and Integrated Micro-Electronics Inc.
To be removed from the Industrial Index are Alliance Select Foods International Inc. and Roxas Holdings Inc., as well as Chemrez Technologies Inc., which were delisted effective January 10. In the Holding Firms Index, House of Investments Inc. and Top Frontier Investment Holdings Inc. will replace A. Soriano Corp. and Filinvest Development Corp.
Four companies will be excluded from the Property Index, namely, Araneta Properties Inc., Cebu Holdings Inc., Empire East Land Holdings Inc. and Starmalls Inc., while two will be added, 8990 Holdings Inc. and Cyber Bay Corp.
The Services Index will see the inclusion of Premiere Horizon Alliance Corp. and Premium Leisure Corp. and the removal of Calata Corp., DFNN Inc., Harbor Star Shipping Services Inc. and Paxys Inc.
No new company will be added to the Financials Index but one company, Sun Life Financial Inc., will be removed.
Finally, Abra Mining and Industrial Corp. and Century Peak Metals Holdings Corp. will be the new members of the Mining and Oil Index. The same index will see the removal of Oriental Petroleum and Minerals Corp.
“This periodic review ensures that our indices truly represent the best among our listed companies based on the standards set. With this exercise, we hope the components of the indices can reflect the increasing interest the Philippines is attracting as a viable investment destination,” PSE President and CEO Hans Sicat said.
The changes in sector indices composition will take effect on March 16. The index composition is reviewed twice a year using the methodology and criteria identified in the index management policy of the PSE.