KUALA LUMPUR (June 1): Westports Holdings Bhd will be included in the Bursa Malaysia KLCI, to replace Inari Amerton Bhd, under the semi-annual review of the FTSE Bursa Malaysia Index Series, said FTSE Russel and Bursa Malaysia in a joint statement.

The changes will be applied after market close on June 16, 2023 and will be effective on June 19, 2023, said the statement dated May 31.

The two companies had swapped positions back in end-2021, following the boom in the semiconductor sector during the pandemic which lifted earnings for Inari and pushed its share price to above RM4 in November that year.

At the time of writing, shares of Westports traded unchanged at RM3.78, giving it a market capitalisation of RM12.89 billion.

Inari shares slipped three sen or 1.59% to RM2.48, giving it a market capitalisation of RM9.26 billion. The counter has retreated by 12% in the past year.

Meanwhile, Top Glove Corp Bhd has been added to the reserve list of five companies, aside from Fraser & Neave Holdings Bhd, Gamuda Bhd, Malaysia Airports Holdings Bhd, and Time Dotcom Bhd.

Subsequently, Inari will be included in the FTSE Bursa Malaysia Mid 70 Index — the list of 70 biggest companies after the KLCI’s 30 component stocks — while Westports bows out.

Including Inari, seven companies will be added to the FTSE Bursa Malaysia Mid 70 Index. The rest are Berjaya Corp Bhd, Gas Malaysia Bhd, ITMAX System Bhd, Mah Sing Group Bhd, TSH Resources Bhd, and Velesto Energy Bhd.

They replace FGV Holdings Bhd, Hong Seng Consolidated, IJM Corp Bhd, Mega First Corp Bhd, Sunway REIT, ViTrox Corp Bhd, as well as Westports.

Meanwhile, the reserve list for the index comprises nine companies, namely Cahya Mata Sarawak Bhd, Cape EMS Bhd, Coastal Contracts Bhd, Datasonic Group Bhd, Eco World International Bhd, MBM Resources Bhd, Pertama Digital Bhd, Petron M Refining & Marketing Bihd and PIE Industrial Bhd.