Hongkong Land included in SGX China indexes

Sep. 15, 2009 (China Knowledge) - Hongkong Land Holdings Ltd was chosen for inclusion in the two Singapore Exchange indexes focused on China, the FTSE ST China Index and the FTSE ST China Top Index when the indexes underwent a regular half-yearly review, sources reported.

Hongkong Land pushed Chinese shipbuilder Yangzijiang off the list, possibly because the latter has shifted its focus to Europe.

Companies in these indexes must have a sufficient number of shares available, and shares must be traded sufficiently often. They must also be at least 30% owned by the Chinese government or by Chinese companies, and must get at least 50% of their revenues from mainland China.

Meanwhile, Keppel Land and Yanlord Land, which were both dropped from the FTSE Straits Times Index in the March 2009 review, failed to make it back on the list this month despite rallies in market value.

Listed companies dropped from the index are placed on the STI reserve list, which includes Ascendas Real Estate Investment Trust, Singapore Petroleum Company and Yangzijiang Shipbuilding. Companies in this list may become part of the index between reviews if index companies cannot meet the inclusion requirements for the duration of the period.