SPH, SGX and FTSE have announced results of the latest Straits Times Index review. ComfortDelgro and SMRT have been added and Keppel Land and Yanlord Land (moved to the mid-cap index) are removed.

● Overall, ComfortDelgro is the largest winner with a weighting increase of 2.3 p.p. SMRT is next with +1 p.p. Biggest losers are SingTel (-0.43 p.p.) and Yanlord Land (-0.35 p.p.). This followed by Keppel Land (-0.32 p.p.) and DBS (-0.26 p.p.).

● Separately, a reserve list with five names has been introduced. In the event of corporate actions or mergers, companies in the list will replace any STI names that might be removed. These are AREIT, STXP, Yangzijiang, SingPost and SingLand. YZJ was removed after the previous review.

● All changes from this review will take effect from 23 March (Monday). The next review is scheduled for 10 September 2009.

● We estimate that index representation of the revised STI would increase to 64% from the 63% currently. This is still much higher than MSCI.s 53% and FTSE.s 60%.