KUALA LUMPUR, Nov 23 — Kenanga Research expects Hap Seng Consolidated Bhd to be removed from the FBM Index series on the grounds of falling below the required liquidity threshold and will most likely be replaced in the FBM KLCI by Inari Amertron Bhd.
“Based on Inari’s represented index shares of 2,275.58 million at the current price of RM4.24 versus Hap Seng’s 649.52 million at RM7.70, we estimate that Inari would come in at around 1.97 per cent weight versus Hap Seng exiting at 1.03 per cent weight. Monday was the cut-off date for the FTSE Russell Malaysia’s final semi-annual review of 2021. Data as at yesterday’s close will determine the updated constituents of the FBM Index series that will be published on Dec 2, and to be implemented effective Dec 20.
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