Seatrium , newly-formed from the merger of Sembcorp Marine and Keppel Offshore and Marine, has replaced Keppel DC REIT on the Straits Times Index, according to the Singapore Exchange and its index partners following a quarterly review for June.
News that Seatrium has been included in the STI came just a day after CPIB announced an investigation on the company for alleged corruption in Brazil.
Keppel DC REIT AJBU has a market value of $3.6 billion while Seatrium has a market cap of $8.26 billion.
The STI has 30 component stocks that are deemed the blue-chip counters of the local stock market.
In addition, there's a so-called "STI reserve list" which comprises the five highest ranking non-constituents of the STI by market capitalisation.
They are, in alphabetical order: CapitaLand Ascott Trust HMN , Frasers Centrepoint Trust J69U , Keppel DC REIT, Olam Group and Suntec REIT T82U .
See also: Sembcorp issues $350 mil of guaranteed notes due 2036 at 3.65%
Stocks on the reserve list will replace any constituents that become ineligible as a result of corporate actions before the next review.
