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 April 2005.


Fifty-nine securities, newly classified by the SAC as approved securities, have been added to the list (Table 1) which currently totals 826 securities. Seven 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.


AirAsia Bhd


31.


Impressive Edge Group Bhd


2.


Amsteel Corporation Bhd


32.


I-Power Bhd


3.


Asdion Bhd


33.


JobStreet Corporation Bhd


4.


AT Systematization Bhd


34.


LCTH Corporation Bhd


5.


BP Plastics Holding Bhd


35.


Mahajaya Bhd


6.


Bukit Katil Resources Bhd


36.


Malaysia Steel Works (KL) Bhd


7.


Carotech Bhd


37.


Mentakab Rubber Company (Malaysia) Bhd


8.


Cheetah Holdings Bhd


38.


Mexter Technology Bhd


9.


Classic Scenic Bhd


39.


Modular Techcorp Holdings Bhd


10.


Cocoaland Holdings Bhd


40.


MQ Technology Bhd


11.


D&O Ventures Bhd


41.


NasionCom Holdings Bhd


12.


DCEIL International Bhd


42.


Online One Corporation Bhd


13.


DIS Technology Holdings Bhd


43.


Ornasteel Holdings Bhd


14.


Ecofuture Bhd


44.


PECD Bhd


15.


Efficient E-Solutions Bhd


45.


Progressive Impact Corporation Bhd


16.


Ekowood International Bhd


46.


QSR Brands Bhd


17.


Euro Holdings Bhd


47.


Ramunia Holdings Bhd


18.


Evergreen Fibreboard Bhd


48.


Satang Jaya Holdings Bhd


19.


Excel Force MSC Bhd


49.


Selangor Properties Bhd


20.


Fast Track Solution Holdings Bhd


50.


Sime Engineering Services Bhd


21.


Fotronics Corporation Bhd


51.


Success Transformer Corporation Bhd


22.


Freight Management Holdings Bhd


52.


Sungei Bagan Rubber Co (M) Bhd


23.


Golden Frontier Bhd


53.


Tafi Industries Bhd


24.


Grand-Flo Solution Bhd


54.


Tamco Corporate Holdings Bhd


25.


Guan Chong Bhd


55.


Tek Seng Holdings Bhd


26.


GuocoLand (Malaysia) Bhd


56.


The Media Shoppe Bhd


27.


Harbour-Link Group Bhd


57.


Tricubes Bhd


28.


Heveaboard Bhd


58.


Wang-Zheng Bhd


29.


Hong Leong Industries Bhd


59.


WCT Land Bhd


30.


Hovid Bhd


 

Table 2: Newly-classified non-approved securities

Based on the current list, 84% of the listed securities on Bursa Malaysia are classified as Syariah-approved, a slight increase of 1% when compared with the previous position based on the list issued in Oct 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 Securities1


Percentage Of Approved Securities


Consumer products


126


137


92


Industrial products


279


301


93


Mining


Nil


1


Nil


Construction


62


63


98


Trading / Services


157


196


80


Properties


83


102


81


Plantation


41


44


93


Technology


64


68


94


Infrastructure (IPC)


7


9


78


Finance


4


55


7


Hotels


Nil


5


Nil


Trusts


2


3


67


Closed End Fund


Nil


1


Nil


TOTAL


826


985


84

1As at 15 April 2005

The latest list also provides the names of new companies that have taken over the listing status of previously-listed Syariah-approved companies (Table 4). In this instance, the Syariah status of the securities will only be determined after sufficient information 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.


Ranhill Power Bhd.


1.


EPE Power Corporation Bhd.


2.


Maxbiz Corporation Bhd


2.


Geahin Engineering Bhd.


3.


Lee Swee Kiat Group Bhd.


3.


Long Huat Group Bhd.


4.


Gromutual Bhd


4.


Medas Corp Bhd.


5.


Aliran Ihsan Resources Bhd


5.


RNC Corporation Bhd.


6.


JMR Conglomeration Bhd.


6.


UCP Resources Bhd.


In classifying the listed securities, the SAC received input and support from the SC and has applied a standard criterion in focusing on the activities of the companies listed on Bursa Malaysia. The approach and criteria in classifying the securities as well as the SAC’s advice and guidance on disposal of Syariah non-approved securities are stated in the list.


The next updated list will be available in October 2005.




SECURITIES COMMISSION
28 April 2005