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PSE adds 4, removes 14 companies from shariah-compliant index


The Philippine Stock Exchange (PSE) has added DoubleDragon Properties Corp., Easycall Communications Philippines Inc., Victorias Milling Company Inc. and Vitarich Corp. to its sub-index on shariah-compliant companies while removing 14 others from the list.
 
In a memoramdum Monday, the PSE said the 14 companies removed were:
  • Aboitiz Equity Ventures Inc.
  • Aboitiz Power Corp.
  • Dizon Copper Silver Mines Inc.
  • Federal Resources Investment Group Inc.
  • Greenergy Holdings Inc.
  • Ionics Inc.
  • iRipple Inc.
  • ISM Communications Corp.
  • Jolliville Holdings Inc.
  • Millenium Global Holdings Inc.
  • MRC Allied Inc.
  • NiHAO Mineral Resources International Inc.
  • Pacifica Inc.
  • Vivant Corp.
The updated list now has 51 companies which includes the following:
  • Abra Mining and Industrial Corp.
  • Apex Mining Co. Inc.
  • Araneta Properties Inc.
  • Asian Terminals Incorporated
  • ATN Holdings Inc. 
  • Bogo Medellin Milling Co. Inc.
  • Calapan Ventures Inc.
  • Centro Escolar University
  • Chemrez Technologies Inc.
  • Cirtek Holdings Philippines Corp.
  • Concepcion Industrial Corp.
  • D&L Industries Inc.
  • Da Vinci Capital Holdings Inc.
  • DMCI Holdings Inc.
  • DoubleDragon Properties Corp.
  • Easycall Communications Philippines Inc.
  • EEI Corp.
  • Far Eastern University Inc.
  • Forum Pacific Inc.
  • Globalport 900 Inc.
  • Holcim Philippines Inc.
  • iPeople Inc.
  • IRC Properties Inc.
  • Island Information & Technology Inc.
  • Jollibee Foods Corp.
  • Lafarge Republic Inc.
  • Liberty Flour Mills Inc.
  • Mabuhay Vinyl Corp.
  • Manila Bulletin Publishing Corp.
  • Manila Electric Co.
  • Marcventures Holdings Inc.
  • Minerales Industrias Corp.
  • Nickel Asia Corp.
  • Now Corp.
  • Oriental Peninsula Resources Group Inc.
  • Pepsi-Cola Products Philippines Inc.
  • Philex Mining Corp.
  • Philex Petroleum Corp.
  • PLDT
  • Semirara Mining Corp.
  • SPC Power Corp.
  • Starmalls Inc.
  • STI Education Systems Holdings Inc.
  • Swift Foods Inc.
  • United Paragon Mining Corp.
  • Universal Robina Corp.
  • Victorias Milling Company Inc.
  • Vitarich Corp.
  • Vulcan Industrial & Mining Corp.
  • Wellex Industies Inc.
The updated list is a result of the quarterly screening of securities for Shariah compliance by IdealRatings Inc. for the period ending June, the PSE said.
 
Under shariah doctrine, Muslims are barred from investing in companies engaged in conventional interest-based lending, financial institutions, pork, alcohol, intoxicants, tobacco, arms and weapons, gambling, casinos, derivatives, pornography, music/entertainment and human stem cell research.
 
Last December, the PSE bared plans to create a sub-index for shariah-compliant companies to further boost liquidity and attract Muslim investors into the equities market. – Danessa Rivera/VS, GMA News
Tags: pseshariahcompliantfirms, philippinestockexchange, pseshariahcompliantindex
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