Sembcorp Marine | REDUCE
CIMB Research, Sept 2
Target price: S$0.90
Sept 2 close: S$1.23
In FTSE Russell's latest quarterly review, Sembcorp Marine (SMM) (about 0.5 per cent weightage) has been excluded from the Straits Times Index (STI). Jardine Matheson Holdings (JM) will be added. JM was removed in 2008 during the revamp of STI to reduce the number of constituents from 50 to 30. The reserve list includes five highest ranking non-constituents of STI by market cap - Mapletree Commercial Trust, Suntec Reit, Keppel Reit, Mapletree Industrial Trust and Singapore Post. The next review will be on Dec 1.
STI is usually used only by single-country funds. Most international funds are benchmarked to MSCI...
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