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FTSE ST Index Series 10 November 2009 |
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The FTSE ST Advisory Committee has approved the following changes to the Ground Rules of the FTSE ST Index Series. The changes under section 4.4 FTSE ST China Indices Qualification Criteria will be implemented at the next FTSE ST Index Series Review in March 2010. Previous Rule 4.4 FTSE ST China Indices Qualification Criteria As part of 4.4 4.4.1 The FTSE ST China Indices represents the performance of Singaporean companies that have a major percentage that is owned by the Chinese, or the majority of their revenue from Mainland China. 4.4.2 To be included, constituents must be in the FTSE ST All-Share Index, and pass either of the two screens in Rules 4.4.3 and 4.4.4 below. 4.4.3 The ownership screen aims for constituents to have at least 30% of its ownership owned by: a) directly or indirectly by the Mainland Chinese Government, b) non-Government linked Chinese companies, c) Mainland China residents or nationals. 4.4.4 The revenue screen aims for constituents to have at least 50% of their revenues from Mainland China. 4.4.5 An existing FTSE ST China Index constituent that is classified as a Chinese company will lose its Chinese status if its ownership by Chinese related entities falls below 25 per cent, and its revenues from Mainland China falls below 45 per cent at the time of the semi-annual review. 4.4.6 A non-constituent of the FTSE ST China Index constituent to be classified as a Chinese company will be required to have its ownership by Chinese related entities to be over 35 per cent, or its revenues from Mainland China greater than 55 per cent at the semi-annual review. New Rule 4.4 FTSE ST China Indices Qualification Criteria As part of 4.4 4.4.1 The FTSE ST China Indices represents the performance of Singaporean companies that have the majority of their sales revenue derived from or operating assets located in Mainland China. 4.4.2 To be included, constituents must be in the FTSE ST All-Share Index, and pass the sales revenue or operating assets screen in Rule 4.4.3 below. 4.4.3 The sales revenue and operating assets screen aim for constituents to have at least 50 per cent of their sales revenue derived from or operating assets located in Mainland China. 4.4.4 An existing constituent of the FTSE ST China Indices that is classified as a Chinese company will lose its Chinese status if its sales revenue derived from or operating assets located in Mainland China falls below 45 per cent at the time of the semi-annual review. 4.4.5 A non-constituent of the FTSE ST China Indices will be required to have its sales revenue derived from or operating assets located in Mainland China greater than 55 per cent at the semi-annual review for it to be classified as a Chinese company. For index related enquiries or further information about FTSE ST Index Series please contact:
Or, email your enquiries to info@ftse.com, or visit our website at www.ftse.com |
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