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


The Securities Commission (SC) today released an updated list of securities approved by its Syariah Advisory Council (SAC). To better reflect their compliance with Syariah principles, the approved securities are now termed as “Syariah-compliant securities”.


The updated list of Syariah-compliant securities listed on Bursa Malaysia will take effect from 28 October 2005. The full list is available on the SC website here (pdf).


Fifty one securities, newly classified by the SAC as Syariah-compliant securities, have been added to the list (Table 1) which currently totals 857 securities. Twelve securities which were in the previous list have been excluded (Table 2).

Table 1 : Newly classified Syariah-compliant securities




































































































































1.


A-Rank Bhd


27.


Kuchai Development Berhad


2.


Bolton Bhd


28.


Lee Swee Kiat Group Bhd


3.


Borneo Aqua Harvest Bhd


29.


Lien Hoe Corporation Bhd


4.


Can-One Bhd


30.


Maxbiz Corporation Berhad


5.


CNI Holdins Bhd


31.


Mechmar Corporation (M) Bhd


6.


Connectcounty Holdings Bhd


32.


Minetech Resources Bhd


7.


Cwork Systems Bhd


33.


MLABS Systems Bhd


8.


Daya Materials Bhd


34.


mTouche Technology Bhd


9.


eB Capital Bhd


35.


Nextnation Communication Bhd


10.


Elsoft Research Bhd


36.


Ngiu Kee Corporation (M) Bhd


11.


Eonmetall Group Bhd


37.


Ni Hsin Resources Bhd


12.


Equator Life Science Bhd


38.


Notion Vtec Bhd


13.


ES Ceramics Technology Bhd


39.


Pan Malaysia Corporation Bhd


14.


GD Express Carrier Bhd


40.


Ranhill Power Bhd


15.


Ge-Shen Corporation


41.


Ruby Quest Bhd


16.


Green Packet Bhd


42.


Scicom (MSC) Bhd


17.


Gromutual Bhd


43.


Solution Engineering Holdings Bhd


18.


INIX Technologies Holdings Bhd


44.


Suria Capital Holdings Bhd


19.


Intelligent Edge Technologies Bhd


45.


Tanjung Offshore Bhd


20.


IQ Group Holdings Bhd


46.


Techfast Holdings Bhd


21.


IRM Group Bhd


47.


Tex Cycle Technology (M) Bhd


22.


JMR Conglomeration Bhd


48.


Titan Chemical Corp. Bhd


23.


Kamdar Group (M) Bhd


49.


UEM World Bhd


24.


Kannaltec Bhd


50.


Vitrox Corporation Bhd


25.


Kawan Food Bhd


51.


YGL Convergence Bhd


26.


Key West Global Telecommunications Bhd


Table 2 : Newly classified Syariah-non compliant securities
































1.


Amanah Harta Tanah PNB


7.


Idaman Unggul Bhd


2.


AmFirst Property Trust


8.


IGB Corporation Bhd


3.


Dai Hwa Holdings (M) Bhd


9.


Inch Kenneth Kajang Rubber Public Limited Company


4.


Encorp Bhd


10.


Malaysia Packaging Industry Bhd


5.


Golden Plus Holdings Bhd


11.


Sarawak Enterprise Corporation Bhd


6.


Hi-City Bioscience Group Bhd


12.


Warisan TC Holdings Bhd


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

Table 3: Syariah-compliant securities on Bursa Malaysia








































































Market Sector


Syariah-compliant Securities


Total Securities1


Percentage (%) of Syariah-compliant Securities

Consumer Products

129


141


91


Industrial Products


289


306


94


Mining


1


1


100


Construction


59


59


100


Trading / Services


166


205


81


Properties


82


101


81


Plantation


41


45


91


Technology


79


83


95


Infrastructure (IPC)


7


9


78


Finance


4


54


7


Hotels


Nil


5


Nil


Closed End Fund


Nil


2


Nil


TOTAL


857


1011


85


The latest list also provides the names of new companies that have taken over the listing status of previously-listed Syariah-compliant 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 Syariah-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.


Kosmo Technology Industrial Bhd


2.


Nauticalink 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-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 April 2006.



SECURITIES COMMISSION