SHARI’AH-COMPLIANT firms at the Philippine Stock Exchange, Inc. (PSE) increased to 65 from 62 previously after the local bourse operator’s latest quarterly screening for the period ending Dec. 25, 2021.
According to a circular published on the PSE website, six issues were removed from the list and nine new firms were deemed Shari’ah-compliant.
The PSE assigned Ideal Ratings, Inc. to screen listed firms in accordance with the Shari’ah compliance standards of the Accounting and Auditing Organization for Islamic Finance Institutions, which includes a business and financial ratios screening.
This quarterly review of the local bourse aims to make investing in the stock market more accessible for Muslims in the Philippines and abroad.
The nine new Shari’ah-compliant issues are ACE Enexor, Inc., Benguet Corp. “A,” Benguet Corp. “B,” MREIT, Inc., NiHAO Mineral Resources International, Inc., Oriental Peninsula Resources Group, Inc., Premiere Horizon Alliance Corp., Primex Corp., and RL Commercial REIT, Inc.
Meanwhile, Concepcion Industrial Corp., Del Monte Pacific, Ltd., Island Information & Technology, Inc., Marcventures Holdings, Inc., PAL Holdings, Inc., and United Paragon Mining Corp. were removed from the latest list. — Keren Concepcion G. Valmonte
