NetLink NBN Trust is Set to Join the FTSE ST Large & Mid Cap Index

The FTSE ST Large & Mid Cap Index comprises of large- and mid-capitalised companies, representing around 86% of Singapore’s stock market capitalisation.

The index’s co-creators, Singapore Press Holdings Limited (SGX: T39)Singapore Exchange Limited (SGX: S68) and FTSE Group, made public last week that three new companies will be joining the FTSE ST Large & Mid Cap Index while one will be kicked out.

The three new companies enrolling into the index will be Dairy Farm International Holdings Ltd (SGX: D01), NetLink NBN Trust (SGX: CJLU) and Wheelock Properties (Singapore) Ltd (SGX: M35).

Getting booted out of the index is Genting Hong Kong Ltd (Malaysia) (SGX: S21).

NetLink NBN Trust is the newest company among the trio of companies joining the index. It went public in July this year and owns a network of fibre cables, ducts, and manholes. To know more about the trust, you can check out the link here.

Genting Hong Kong had seen its share price drop from a high of around US$0.50 in May 2013 to a low of around US$0.26 in September last year. For the full year ended 31 December 2016, the firm reported a net loss of US$502 million.

Things do not seem to be abating anytime soon. For the six months ended 30 June 2017, the firm sank deeper into the red with a net loss of US$203 million. A year ago, the loss was lesser at around US$55 million. High operating and administrative expenses have taken a toll on the business.

The index’s co-creators added that the changes will be made after the close of business on Friday, 15 September 2017 and will go live on Monday, 18 September 2017.

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The information provided is for general information purposes only and is not intended to be personalised investment or financial advice. The Motley Fool Singapore has recommended shares of Singapore Exchange Limited and Dairy Farm International Holdings Ltd. Motley Fool Singapore contributor Sudhan P doesn’t own shares in any companies mentioned.