S&P Index Removal
Five Asia-Pacific Companies Have Been Dropped From the S&P Global BMI Index
Anonymous
Key Points
1
EM-Tech Co. Ltd. was identified as a KOSDAQ-listed company with the ticker A091120 in the index-removal notice.
2
Superalloy Industrial Co. Ltd. was identified as a Taiwan Stock Exchange company with the ticker 1563.
3
SM Investments Corporation was identified as a Philippine Stock Exchange company with the ticker SM.
4
SKP Resources Bhd was identified as a Bursa Malaysia-listed company with the ticker SKPRES.
5
Interflex Co. Ltd. was identified as a KOSDAQ-listed company with the ticker A051370.
Five Asia-Pacific companies have been removed from the S&P Global BMI Index, a broad equity benchmark that tracks emerging and developed markets. MarketScreener reported the deletions affect firms across South Korea, Taiwan, the Philippines, and Malaysia, reflecting changes in the index's composite rating methodology. The index uses rankings for returns, profitability, financial-reporting quality, and financial health to determine membership.
Five Companies Exit S&P's Emerging Market Benchmark
EM-Tech Co. Ltd. and Interflex Co. Ltd., both listed on South Korea's KOSDAQ exchange, have been removed. EM-Tech trades under ticker A091120, while Interflex uses A051370. Superalloy Industrial Co. Ltd. from Taiwan's main stock exchange (ticker 1563) also departed. The removals signal MarketScreener reviewed these firms' financial metrics and composite ratings against S&P's standards.
Philippine and Malaysian Firms Drop From Index
SM Investments Corporation, a major Philippine conglomerate, was removed from the benchmark. The company trades on the Philippine Stock Exchange under ticker SM. SKP Resources Bhd, listed on Bursa Malaysia under ticker SKPRES, also exited the index. Both companies failed to meet S&P's composite rating criteria.
S&P's Composite Rating Methodology Behind Removals
S&P Global BMI Index calculates membership using a composite rating that averages rankings across three key metrics: returns, profitability, and financial-reporting quality, plus financial health. A company must have coverage in at least two of these three rating categories to maintain inclusion. Companies failing this threshold face automatic removal from the index.
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