Updated List of Securities Approved by SC’s Syariah Advisory Council


The Securities Commission (SC) today released an updated list of securities approved by its Syariah Advisory Council (SAC). The list of approved securities, which are listed on Bursa Malaysia, will take effect from 29 October 2004 .


Sixty-five securities, newly classified by the SAC as approved securities, have been added to the list (Table 1) which currently totals 787 securities. Nine securities which were in the previous list have been excluded (Table 2). The list which contains the names of the approved securities is available on the SC website here. A booklet on the list will be published soon and is issued free of charge by the SC.

Table 1: Newly-classified approved securities







































































































































































1.


Adventa Bhd


34.


Kumpulan Perangsang Selangor Bhd


2.


APB Resources Bhd


35.


Leong Hup Holdings Bhd


3.


Asian Pac Holdings Bhd


36.


Leweko Resources Bhd


4.


Cahya Mata Sarawak Bhd


37.


Limahsoon Bhd


5.


CBS Technology Bhd


38.


Liqua Health Corporation Bhd


6.


Comintel Corporation Bhd


39.


Major Team Holdings Bhd


7.


Datascan Bhd


40.


Maxtral Industry Bhd


8.


Datuk Keramat Holdings Bhd


41.


Measat Global Bhd


9.


Diethelm Holdings Bhd


42.


MEMS Technology Bhd


10.


Dijaya Corporation Bhd


43.


Metronic Global Bhd


11.


DK Leather Corporation Bhd


44.


MMC Corporation Bhd


12.


Dolomite Corporation Bhd


45.


MoBif Bhd


13.


DPS Resources Bhd


46.


MP Technology Resources Bhd


14.


Eastern & Oriental Bhd


47.


Mudajaya Group Bhd


15.


Eden Enterprises (M) Bhd


48.


Mycron Steel Bhd


16.


Emivest Bhd


49.


Oceancash Pacific Bhd


17.


Equine Capital Bhd


50.


Oilcorp Bhd


18.


Faber Group Bhd


51.


OSK Property Holdings Bhd


19.


General Corporation Bhd


52.


Pelangi Publishing Group Bhd


20.


Goodway Integrated Industries Bhd


53.


Perisai Petroleum Teknologi Bhd


21.


GPRO Technology Bhd


54.


Petaling Garden Bhd


22.


Greatpac Holdings Berhad


55.


Prinsiptek Corporation Bhd


23.


Harn Len Corporation Bhd


56.


PROTON Holdings Bhd


24.


Hi-City Bioscience Group Bhd


57.


Sarawak Enterprise Corporation Bhd


25.


Highlands Lowlands Bhd


58.


Sersol Technologies Bhd


26.


Ibraco Bhd


59.


Sin Chew Media Corporation Bhd


27.


Idaman Unggul Bhd


60.


SPK-Sentosa Corporation Bhd


28.


Inch Kenneth Kajang Rubber Public Limited Company


61.


Sumatec Resources Bhd


29.


Karyon Industries Bhd


62.


Tebrau Teguh Bhd


30.


Kein Hing International Bhd


63.


Tronoh Mines Malaysia Bhd


31.


KLCC Property Holdings Bhd


64.


UEM Builders Bhd


32.


Kumpulan Europlus Bhd


65.


Viztel Solutions Bhd


33.


Kumpulan Hartanah Selangor Bhd


 







Table 2: Newly-classified non-approved securities



























1.


ECM Libra Bhd


6.


Sindora Bhd


2.


Ho Wah Genting Bhd


7.


Sugarbun Coporation Bhd


3.


Johan Holdings Bhd


8.


Sunway Infrastructure Bhd


4.


Mechmar Corporation (M) Bhd


9.


Woo Hing Brothers (Malaya) Bhd


5.


Meda Inc. Bhd


Based on the current list, more than 83% of the listed securities on Bursa Malaysia are classified as Syariah-approved. This is an increase of almost 3% when compared with the previous position based on the list issued in April 2004. Syariah-approved securities are also well-represented in all sectors of industry as shown in Table 3 below.

Table 3: Syariah-approved securities on Bursa Malaysia


















































































Main Board
Second Board
MESDAQ Market


Approved
Securities


Total
Securities
1


Percentage
Of Approved
Securities


Consumer products


119


128


93


Industrial products


258


279


92


Mining


Nil


1


Nil


Construction


57


58


98


Trading / Services


143


178


80


Properties


78


97


80


Plantation


39


42


93


Technology


50


54


93


Infrastructure (IPC)


7


8


88


Finance


6


52


12


Hotels


Nil


5


Nil


Trusts


2


3


67


Closed End Fund


Nil


1


Nil


PN4


28


41


68


TOTAL


787


947


83

1As at 20 October 2004

The latest list also provides a table which contains the names of securities of new companies that have replaced the listing status of previously-listed companies which were classified as Syariah-approved securities (Table 4). The new companies do not automatically take over the Syariah status accorded by the SAC to the previously-listed companies. Their Syariah status will only be determined after sufficient information which are relevant and material have been obtained from the new companies.

Table 4: New securities assuming listing status of previously approved listed securities















































No.


New securities


No.


Previous securities that has been delisted from Bursa Malaysia


1.


QSR Brands Bhd


1.


Ayamas Food Corporation Bhd


2.


Sime Engineering Services Bhd


2.


DMIB Bhd


3.


Ranhill Power Bhd.


3.


EPE Power Corporation Bhd.


4.


Maxbiz Corporation Bhd


4.


Geahin Engineering Bhd.


5.


Mahajaya Bhd.


5.


Hotline Furniture Bhd.


6.


Lee Swee Kiat Group Bhd.


6.


Long Huat Group Bhd.


7.


Dceil International Bhd.


7.


Pancaran Ikrab Bhd.


8.


JMR Conglomeration Bhd.


8.


UCP Resources Bhd.


In classifying the listed securities, the SAC received input and support from the SC. The SAC has applied a standard criterion in focusing on the activities of the companies listed on the Bursa Malaysia. As such, subject to certain conditions, companies whose activities are not contrary to the Syariah principles will be classified as approved securities. The approach and criteria in classifying the securities as well as the SAC’s advice on disposal of Syariah non-approved securities are stated in the list.


The SAC further advises investors to be aware of the timing for the disposal of securities which have been classified as Syariah non-approved. The guide to the timing is available in the list.


The next updated list will be available in April next year.



SECURITIES COMMISSION
28 October 2004