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KUALA LUMPUR (Oct 12): Supermax Corp Bhd and Kossan Rubber Industries are among Bursa Malaysia’s top winners today, after Maybank Investment Bank Research said the two glove makers are likely to be listed on the FBM KLCI in next review in November.
At 4.32pm, Supermax was up 43 sen or 4.51% to RM9.97, valuing the company at RM27.07 billion. So far this year, the stock has soared 1.324% from 70 sen.
Kossan rose 23 sen or 3.18% to RM7.46, giving it a market capitalization of RM19.06 billion. The meter is up 259% year-to-date from RM2.08.
“Their inclusion will increase the weight of glove stocks, four in total, in the KLCI to around 20%, from just under 15% today. From a sector perspective, this is the second largest weighting after banks (around 27%), ”Maybank IB analyst Anand Pathmakanthan wrote in a strategy report dated October 8.
Maybank IB said Supermax and Kossan were the 20th and 24th largest stocks on the local stock exchange as of Oct.6.
KLCI’s constituent review will be based on share prices at market close on November 23 and will take effect on December 21.
Read also:
Supermax and Kossan are likely to appear as KLCI components in the next revision
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