The Philippine Stock Exchange (PSE) has announced that there will be no changes to the 30 top member firms that make up the benchmark PSE index (PSEi).
However, the new sectoral indices will reduce the number of listred firms by five after a review of 2014 market results.
To be included in the PSEi board, a listed firm should be a top company in terms of liquidity and full market capitalization, and have a public float level of at least 12 percent of its outstanding shares.
Among the sectoral indices, 10 new firms were added while 15 were removed.
The industrial index added two firms to its roster — Century Pacific Food Inc. and Integrated Micro-Electronics Inc — while it removed Alliance Select Foods International Inc., Roxas Holdings Inc., and Chemrez Technologies Inc., which delisted last January 10.
House of Investments Inc. and Top Frontier Investment Holdings Inc. entered the holding firms index, while A. Soriano Corp. and Filinvest Development Corp. departed.
For property, four were excluded: Araneta Properties Inc., Cebu Holdings Inc., Empire East Land Holdings Inc., and Starmalls Inc.; while two will be added — 8990 Holdings Inc. and Cyber Bay Corp.
The services index welcomed Premiere Horizon Alliance Corp. and Premium Leisure Corp., but Calata Corp., DFNN Inc., Harbor Star Shipping Services Inc., and Paxys Inc. were phased out.
No new companies were added to the financials counter, but Sun Life Financial Inc. will be removed. For the mining and oil index, Abra Mining and Industrial Corp. and Century Peak Metals Holdings Corp. will come in while Oriental Petroleum and Minerals Corp. will be excluded.
“This periodic review ensures that our indices truly represent the best among our listed companies based on the standards set. With this exercise, we hope the components of the indices can reflect the increasing interest the Philippines is attracting as a viable investment destination,” said PSE President and Chief Executive Officer Hans B. Sicat.
The changes will take effect on March 16. The review in the index composition is done twice a year using criteria of PSE’s index management policy.