Bumi Armada Bhd will be added to the Dow Jones Islamic Market Malaysia Titans 25 Index, following the removal of Kencana Petroleum Bhd due to its acquisition by SapuraCrest Petroleum Bhd, Dow Jones Indexes announced.
Based in Malaysia, Bumi Armada is an international offshore oilfield services provider engaged in the provision of marine transportation, floating production storage and offloading system operations, and vessel construction. It also provides engineering and maintenance services to offshore oil and gas companies.
The Dow Jones Islamic Market Malaysia Titans 25 Index measures the performance of the 25 largest Malaysia-domiciled companies that pass rules-based screens for compliance with Islamic investment guidelines. The composition of the index is reviewed annually in June.
The addition of Bumi Armada to the Dow Jones Islamic Market Malaysia Titans 25 Index will be effective before the open of trading on Wednesday, May 2, 2012.
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