KUALA LUMPUR (March 19): Telekom Malaysia Bhd (TM) has replaced Supermax Corp Bhd in the Dow Jones Islamic Market Malaysia Titans 25 Index.

This follows a review of the index for the first quarter of 2021, said i-VCAP Management Sdn Bhd, the manager of MyETF Dow Jones Islamic Market Malaysia Titans 25 (MYETFDJ).

"As a result of the review, one stock was added and one stock was removed from the fund, while the weightings of the remaining stocks in the fund have changed," it said in a filing with Bursa Malaysia.

The changes took effect after the close of trading today.

i-VCAP Management said it was informed of the quarterly review of the Dow Jones Islamic Market Malaysia Titans 25 Index — which is the benchmark index for MYETFDJ — by S&P Dow Jones Indices.

Of the 24 other stocks in the index, 17 saw increases in weightings, while seven saw decreases.

The weightings between the first quarter of 2021 and the fourth quarter of 2020 were based on the closing prices as at March 12, 2021 and Dec 11, 2020 respectively.

Checks on their share prices during the period showed that TM grew by 17.9% to RM6.03 (March 12, 2021), while its market capitalisation ballooned by RM3.2 billion to RM22.76 billion.

Supermax, on the other hand, saw its share price plunge 45.7% to RM4.08 on March 12, while it lost RM9.17 billion in market capitalisation to RM10.68 billion.