Updated List of Shariah-compliant Securities by SC’s Shariah Advisory Council


The Securities Commission (SC) today released an updated list of Shariah-compliant securities approved by its Shariah Advisory Council (SAC). The updated list of Shariah-compliant securities listed on Bursa Malaysia will take effect from 28 April 2006. The full list is available here (pdf).


Thirty-six securities, newly classified by the SAC as Shariah-compliant securities, have been added to the list (Table 1), which currently totals 871 securities. Fourteen securities, which were in the October 2005 list, have been excluded (Table 2).


Table 1: Newly classified Shariah-compliant securities










































































































































No.


Stock Code


Name of Securities


No.


Stock Code


Name of Securities


1.


0122


Advance Information Marketing Bhd


19.


7017


Komarkcorp Bhd


2.


8516


Aliran Ihsan Resources Bhd


20.


0111


K-One Technology Bhd


3.


0105


Asia Poly Holdings Bhd


21.


0110


KZEN Solutions Bhd


4.


7447


Axis Incorporation Bhd


22.


2887


Lion Diversified Holdings Bhd


5.


7221


BSL Corporation Bhd


23.


4235


Lion Industries Corporation Bhd


6.


5081


Esthetics International Group Bhd


24.


0107


Litespeed Education Technologies Bhd


7.


0118


ETI Tech Corporation Bhd


25.


0113


MMS Ventures Bhd


8.


0119


Extol MSC Bhd


26.


0108


N2N Connect Bhd


9.


1805


FA Peninsular Bhd


27.


7225


P.A. Resources Bhd


10.


0109


Flonic Hi-Tec Bhd


28.


4103


Pan Malaysian Industries Bhd


11.


0116


Focus Dynamics Technologies Bhd


29.


1945


PJ Development Holdings Bhd


12.


0104


Genetec Technology Bhd


30.


5215


RB Land Holdings Bhd


13.


7222


Imaspro Corporation Bhd


31.


0106


Rexit Bhd


14.


0112


Industri Teknologi Mikro Bhd


32.


0117


SMR Technologies Bhd


15.


2127


Integrated Rubber Corporation Berhad


33.


3999


The New Straits Times Press (Malaysia) Bhd


16.


7223


Jadi Imaging Holdings Bhd


34.


4995


Versatile Creative Bhd


17.


3441


Johan Holdings Bhd


35.


0120


VisDynamics Holdings Bhd


18.


1988


Kemayan Corporation Bhd


36.


0115


Wimems Corporation Bhd



Table 2: Newly classified Shariah-non compliant securities





























































No.


Stock Code


Name of Securities


No.


Stock Code


Name of Securities


1.


2712


Amsteel Corporation Bhd


8.


2453


Kluang Rubber Company (Malaya) Bhd


2.


4812


Cosway Corporation Bhd


9.


3581


Lion Corporation Bhd


3.


3417


Eastern & Oriental Bhd


10.


3948


Mycom Bhd


4.


6815


EUPE Corporation Bhd


11.


5452


Prime Utilities Bhd


5.


3166


General Corporation Bhd


12.


8885


Reliance Pacific Bhd


6.


8281


Golden Frontier Bhd


13.


2569


Sungei Bagan Rubber Co (M) Bhd


7.


1503


GuocoLand (Malaysia) Bhd


14.


4804


Tradewinds Corporation Bhd


Based on the current list, 85% of the listed securities on Bursa Malaysia are classified as Shariah-compliant. Shariah-compliant securities are also well represented in all sectors of industry as shown in Table 3 below.


Table 3: Shariah-compliant securities on Bursa Malaysia











































































Market Sector


Shariah-compliant Securities


Total Securities*


Percentage (%) of Shariah-compliant Securities

Consumer Products

129


140


92


Industrial Products


289


305


95


Mining


1


1


100


Construction


59


59


100


Trading / Services


168


206


82


Properties


82


102


80


Plantation


38


45


84


Technology


94


98


96


Infrastructure (IPC)


7


9


78


Finance


4


52


8


Hotels


Nil


5


Nil


Closed End Fund


Nil


2


Nil

TOTAL
871


1024


85


* As at 20 April 2006


The latest list also provides the names of new companies that have taken over the listing status of previously listed Shariah-compliant companies (Table 4). In this instance, the Shariah 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 Shariah-compliant securities




















No.


New securities


No.

Previous securities that have been delisted from Bursa Malaysia


1.


Aliran Ihsan Resources Bhd


1.


RNC Corporation Bhd


2.


Tradewinds Plantation Bhd


2.


Johore Tenggara Oil Palm 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 Shariah non-compliant securities are stated in the list.


A booklet on the list will be published soon and is issued free of charge by the SC. The next updated list will be available in October 2006.



SECURITIES COMMISSION