THE Philippine Stock Exchange, Inc. (PSE) found 55 listed firms to be compliant with Islamic principles of finance as of March 25.

A quarterly review posted on the PSE website showed the removal of two firms, namely Cirtek Holdings Philippines Corp. and Italpinas Development Corp.

Meanwhile, Forum Pacific, Inc. was the only firm that was added to the list of Shariah-compliant companies.

Compliance with Shariah principles indicates that firms are not involved in conventional interest-based lending and financial services such as insurance, mortgages and leasing, and other derivatives.

The PSE tapped IdealRatings, Inc., a company that specializes in screening securities for Shariah compliance, in this quarter’s review.

A total of 56 firms were found to be Shariah-compliant in the previous quarterly review for the period ending Dec. 25. — Arra B. Francia

List of the Shariah-compliant firms as of March 25, 2019:

• 2GO Group, Inc.

• Abra Mining and Industrial Corp.

• AgriNurture, Inc.

• Asian Terminals, Inc.

• ATN Holdings, Inc. “A”

• ATN Holdings, Inc. “B”

• Bogo-Medellin Milling Company, Inc.

• Centro Escolar University

• Chemical Industries of the Philippines, Inc.

• Concepcion Industrial Corp.

• Concrete Aggregates Corp. “A”

• Concrete Aggregates Corp. “B”

• Crown Asia Chemicals Corp.

• D&L Industries, Inc.

• Da Vinci Capital Holdings, Inc.

• DMCI Holdings, Inc.

• Eagle Cement Corp.

• Easycall Communications Philippines, Inc.

• Far Eastern University, Inc.

• Forum Pacific, Inc.

• Global Ferronickel Holdings, Inc.

• Golden Bria Holdings, Inc.

• Greenergy Holdings, Inc.

• Holcim Philippines, Inc.

• iPeople, Inc.

• Island Information & Technology, Inc.

• LBC Express Holdings, Inc.

• Lepanto Consolidated Mining Company “A”

• Lepanto Consolidated Mining Company “B”

• Liberty Flour Mills, Inc.

• Macay Holdings, INc.

• MacroAsia Corp.

• Manila Electric Company

• Marcventures Holdings, Inc.

• MRC Allied, Inc.

• Now Corp.

• Oriental Peninsula Resources Group, Inc.

• Philippine Estates Corp.

• The Philodrill Corp.

• Pilipinas Shell Petroleum Corp.

• Prime Orion Philippines, Inc.

• Primex Corp.

• PTFC Redevelopment Corp.

• PXP Energy Corp.

• RFM Corp.

• Semirara Mining and Power Corp.

• SFA Semicon Philippines Corp.

• Starmalls, Inc.

• Swift Foods, Inc.

• United Paragon Mining Corp.

• Universal Robina Corp.

• Vivant Corp.

• Wellex Industries, Inc.

• Wilcon Depot, Inc.

• Xurpas, Inc.