Malaysian regulator rejigs Islamic stocks list

KUALA LUMPUR Thu May 28, 2009 2:29pm IST

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KUALA LUMPUR May 28 (Reuters) - Malaysia's capital market regulator said on Thursday it has revised its list of Islamic stocks on the stock exchange to add 13 and drop one.

As part of a regular exercise that takes place twice a year, the Securities Commission revised its list of sharia compliant stocks to 848 or 88 percent of securities listed on Bursa Malaysia (BMYS.KL).

Previously, 87 percent of the securities met the sharia's standards.

The stocks that were added to the list included builder Sunway Holdings Bhd SGWM.KL, paper box maker Box-Pak (Malaysia) Bhd (BPAK.KL), property developers Daiman Development Bhd (DAIM.KL) and I-Berhad (IBHD.KL).

Leisure company Reliance Pacific Bhd (RPAC.KL) was dropped from the list.

The full list of Islamic stocks is available on the Securities Commission's website at www.sc.com.my. (Click on [ID:nISLAMIC] for more Islamic finance stories and ISLAMIC for a speed guide) (Reporting by Liau Y-Sing; Editing by Tomasz Janowski)

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