KLCI Review Coming – MR DIY Hanging By A Nail
A company must maintain its position above 36 on the FBM KLCI index or face deletion from the stock exchange.
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MR DIY Group (M) Bhd, well known for its chain of hardware stores selling household products ranging from power tools to bathroom supplies, is at risk of being removed from the FTSE Bursa Malaysia KLCI (FBM KLCI) constituents list.
FBM KLCI is the main benchmark stock market index for Malaysia, representing the performance of the top 30 largest companies by market capitalization on the Bursa Malaysia Main Board.
According to a report by The Star, MR DIY is currently hovering at the 35th spot, closely followed by KPJ Healthcare Bhd just by a difference of three sen.
MBSB Research (formerly MIDF Research), the investment research arm of MBSB Investment Bank Berhad, said MR DIY would face deletion if it drops to 36th or below, adding that United Plantations Bhd being the likely replacement, if it were to happen.
Meanwhile, IOI Corp Bhd also may be at risk of exclusion due to liquidity requirements. As per FTSE’s rules, existing constituents must pass at least eight out of 12 months of liquidity tests. IOI Corp can only afford to fail one more month of liquidity test before they are at risk of deletion.
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