KUALA LUMPUR (Sept 24): Bursa Malaysia Bhd has introduced five new sectors for public-listed companies on the Main Market of its exchange, adding sectoral indexes accordingly.
The new sectoral classifications, which also saw the removal of four sectors and their corresponding indexes, went live today.
The sectors introduced were: energy, healthcare, telecommunications and media, transport and logistics, as well as utility.
Meanwhile the hotel, infrastructure project companies, mining and trading or services sectors were removed.
"The new classification is intended to ensure that the bourse's sectors and sectoral indexes continue to appropriately represent the global equity market," Bursa Malaysia chief executive officer Datuk Seri Tajuddin Atan said at the launch of the reclassification today.
He added that the new classifications will enable investors and asset managers to make global comparisons.
Three existing sectors will be broadened and renamed. These are finance, which will be named financial services; industrial products, to be renamed industrial products and services; as well as consumer products, which will now be known as consumer products and services.
Considerations for sectoral inclusion will be done on a quarterly basis, with criteria such as the companies' revenue streams as well as future direction of their businesses being considered.
The new sectoral classification also follows a two-tier structure and is aligned to internationally recognised standards. A total of 42 subsectors were added for the 13 sectors of public-listed companies.