| To : Business Editor | For immediate release |
JARDINE MATHESON COMPANIES INCLUDED IN NEW SINGAPORE REGIONAL INDEX
15th October 1996 -- Jardine Matheson Holdings Limited today announced that five Jardine Matheson Group companies with a market value of over US$16 billion are key constituents of the new Business Times Singapore Regional Index (`BT-SRI'), launched this morning by Singapore's Minister for Finance, Dr Richard Hu.
The BT-SRI is sponsored by the Stock Exchange of Singapore and will be managed by the Business Times. The index is co-sponsored by DBS Bank, OCBC Bank, Overseas Union Bank and United Overseas Bank.
Jardine Matheson Holdings, Jardine Strategic Holdings, Dairy Farm International Holdings, Hongkong Land Holdings and Mandarin Oriental International, are expected to play a significant role in the new index. Singapore based associate Cycle & Carriage, is also represented in the index.
The BT-SRI contains 38 major regional companies whose shares are listed on the Stock Exchange of Singapore. The new index is market value weighted, and will be calculated on a real time basis. The index was developed by the Stock Exchange of Singapore in response to calls from market participants for a benchmark index for an Asian based portfolio. By its structure the index replicates the dynamics of the stock market in the region.
Dr Richard Hu also announced that six Singapore banks are jointly sponsoring a unit trust which will invest exclusively in the BT-SRI component stocks. The new unit trust will have an initial fund size of S$50 million and will be Singapore's first listed unit trust following its launch in November.
Commenting on the new index, Jardine Matheson
Managing Director, Alasdair Morrison, said:
"We welcome the
Business Times Singpaore Regional Index as it reflects the growing
strength of Asian multinationals as well as Singapore's role as
a regional financial centre."
"With the Group already representing over 7% of Singapore's total market trading volume, the new index will be a further important step in increasing investor focus on Jardine Matheson Group shares. It will also provide investors with a meaningful measure of the performance of their investment portfolios in regional stocks listed on the Stock Exchange of Singapore."
For further information please contact:
| Jardine Matheson Chew Siow Nee |
Tel: (65) 322 2122 (office) |
| Ludgate Asia Limited Martin Spurrier |
Tel: (852) 2543 5413 (office) |
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