SMRT – BT
GLP to replace SMRT as STI constituent
GLOBAL Logistic Properties (GLP) will replace transport group SMRT Corp as a constituent of the Straits Times Index (STI) on March 21. This follows a half-yearly review of the Singapore market index.
Singapore Press Holdings (SPH), Singapore Exchange (SGX) and FTSE Group, which jointly announced the constituent changes in the STI and FTSE ST Indices, said SMRT Corp will join the FTSE ST Mid-Cap Index.
The STI, a widely followed benchmark, comprises the top 30 SGX mainboard-listed companies by market capitalisation and which pass the relevant investability screens.
GLP, which was listed in October last year, is one of the largest providers of modern logistics facilities in the region. The group owns, manages and leases out a vast network of properties.
The STI reserve list, comprising the top five non-constituents of the index in terms of market capitalisation, are Yangzijiang Shipbuilding Holdings, Keppel Land, Cosco Corp Singapore, CapitaCommercial Trust and Ascendas Real Estate Investment Trust.
Companies in the reserve list will replace any constituent that becomes ineligible as a result of corporate actions before the next review, which is scheduled for Sept 8.
Other constituent changes were also announced yesterday for FTSE ST Indices, such as the FTSE ST Maritime and FTSE ST Catalist. 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.
Details of all deletions and additions can be found under the Index Reviews section at www.ftse.com/st.