FTSE Russell axes ComfortDelGro from STI

The transport company will be replaced by Emperador.

ComfortDelGro has been removed from the Straits Times Index (STI) following FTSE Russell's September quarterly review.

FTSE Russell, STI’s administrator, said Emperador will replace ComfortDelGro in the index.

If and when there are constituents who became ineligible as a result of corporate actions before the next review in December, stocks on the reserve list will replace them.

The top five highest ranking non-constituents of the STI by market capitalisation on the reserve list are  Olam Group, Suntec REIT, Keppel REIT, Frasers Centrepoint Trust and Ascott Residence Trust. 

Last June, Mapletree North Asia Commercial Trust was in the top five.

Indexes undergo a quarterly review per the index ground rules. The review is conducted to facilitate the inclusion of eligible IPO stocks.