THERE will be no changes in the 30 companies comprising the Philippine Stock Exchange index (PSEi), the bourse operator said on Thursday.
In a statement, the Philippine Stock Exchange, Inc. (PSE) said the result was derived from its review covering the July 2017 to June 2018 period.
Considered a local barometer for investor confidence, the PSEi should be composed of top companies based on liquidity and full market capitalization, and have a free float level of at least 15%.
Among the sub-indices, the financial index was the lone sector that remained unchanged after the review. Three firms will be added to the industrial index, namely Ginebra San Miguel, Inc., PetroEnergy Resources Corp., and Pepsi-Cola Products Philippines, Inc. They replace Alsons Consolidated Resources, Inc., San Miguel Food and Beverage, Inc., and Phinma Energy Corporation.
The PSE has increased the number of companies under the holding firms index to 15, adding Prime Orion Philippines, Inc. and Solid Group, Inc. For property, Cebu Landmasters, Inc and Philippine Estates Corp. have been added, while Sta. Lucia Land, Inc. was removed.
Boulevard Holdings, Inc., Golden Bria Holdings, Inc., and IPM Holdings, Inc. have been dropped from the Services Index, with Philippine Seven Corp. and Wilcon Depot, Inc. added in their place.
Lastly, the PSE removed Atlas Consolidated Mining and Development Corp. and Lepanto Consolidated Mining Co. from the mining and oil index.
“The continued implementation of the revised index management policy has yielded a more representative set of companies composing the indices given the more stringent requirements we have adopted,” said PSE President and Chief Executive Officer Ramon S. Monzon said in a statement.
The changes will be implemented starting Aug. 20. — Arra B. Francia