NEW YORK and KUALA LUMPUR, June 23, 2005 (PRIMEZONE) -- Dow Jones Indexes (NYSE:DJ), a leading global index provider, and RHB Securities Sdn Bhd today announced the launch of the Dow Jones-RHB Islamic Malaysia Index. The new index was developed jointly by Dow Jones Indexes and RHB Research Institute Sdn Bhd and will replace the RHB Islamic Index that has been in use since May 1996.
The Dow Jones-RHB Islamic Malaysia Index is part of the Dow Jones Islamic Market Index series, and follows the methodology of the Shari'ah compliant index family. The index, which is based on internationally acknowledged Islamic finance standards, has been developed specifically to meet the growing demand for Shari'ah compliant equity indexes -- specifically for the Malaysian market. The Dow Jones Shari'ah Supervisory Board, a group of international Shari'ah scholars, oversees the execution of the Shari'ah standards used by Dow Jones Indexes.
"The launch of the Dow Jones-RHB Islamic Malaysia Index marks another major step in our effort to provide a Shari'ah compliant index family that covers all countries that have significant Islamic-based investment criteria," said Lars Hamich, managing director of STOXX Ltd., the joint venture that is responsible for Dow Jones Indexes' business development in Asia, Europe and the Middle East. "Equally important, the index is available and accessible to institutional and eventually retail investors all over the world."
Executive Chairman of RHB Capital Bhd ("RHB Capital") Dato Sri Sulaiman Abdul Rahman Taib said that apart from catering to the needs of Malaysian investors, the new Islamic index was expected to draw new investors from the Gulf States, Europe and the United States to Malaysia and other Asian markets. "The new index will complement the KLSE Shari'ah Index," he said.
Stocks that are excluded from the Islamic index are those of companies that deal in alcohol and tobacco products, pork-related products, financial services, the defense and weaponry sector and entertainment.
Also excluded are companies whose total debt divided by trailing 12-month average market capitalization is 33% or more; those whose cash plus interest-bearing securities divided by trailing 12-month average market capitalization is 33% or more; and those whose accounts receivables divided by trailing 12-month average market capitalization is 33% or more.
A total of 45 companies are currently included in the Dow Jones-RHB Islamic Malaysia Index.
Members of the Dow Jones Shari'ah Supervisory Board are: Shaykh Nizam Yaquby, Bahrain; Sheikh Dr. Mohd Daud Baker, Malaysia; Shaykh Justice Muhammad Taqi Usmani, Pakistan; Shaykh Dr. Mohamed A. Elgari, Saudi Arabia; Shaykh Abdul Sattar Abu Ghuddah, Syria; Shaykh Yusuf Talal DeLorenzo, U.S.
Further information on the Dow Jones-RHB Islamic Malaysia Index, as well as the Dow Jones Islamic Market Indexes, can be found on www.djindexes.com.
Media Contacts
Dow Jones Indexes
Journalists may email questions regarding this press release to:
PR-Indexes@dowjones.com or contact a member of the Dow Jones Indexes
public relations group:
New York: Sybille A. Reitz, +1-212-597-5735
Frankfurt: Simona Deckers, +49-69-97142894
Nicole Wesch, +49-69-97142893
RHB Securities Sdn Bhd
Kuala Lumpur: Yeoh Guan Jin, 03-92802536 or 012-3835027
Note to Editors:
About Dow Jones Indexes
Dow Jones Indexes is a premier global provider of investable indexes, including the Dow Jones Averages, the Dow Jones Global Titans 50, the Dow Jones Asian Titans 50, the Dow Jones Sector Titans, the Dow Jones Country Titans Indexes and is co-owner of the Pan-European Dow Jones STOXX Indexes. Dow Jones Indexes is part of Dow Jones & Company, which publishes the world's most vital business and financial news and information.
In addition to Dow Jones Indexes, Dow Jones & Company (NYSE:DJ) (dowjones.com) publishes The Wall Street Journal and its international and online editions, Barron's and the Far Eastern Economic Review, Dow Jones Newswires, MarketWatch and the Ottaway group of community newspapers. Dow Jones is co-owner with Reuters Group of Factiva, with Hearst of SmartMoney and with NBC Universal of the CNBC television operations in Asia and Europe. Dow Jones also provides news content to CNBC and radio stations in the U.S.
About RHB Securities Sdn Bhd
In March, the Group launched the RHB Islamic Bank Bhd, the first standalone Islamic bank of a conventional banking group. The new bank was also the first Islamic banking window operations to mature into a full-fledged bank.
RHB Islamic Bank operates from more than 200 branches, making it the Islamic bank with the widest distribution network in Malaysia. Customers can also gain access to its products and services through its PhoneBanking and Internet Banking services.
RHB Sakura Merchant Bankers Bhd, another unit of the RHB Group, regularly arranges Islamic Term Loans, Islamic Revolving Credit and Cross-border Islamic Fund Raising for its clients. It also arranges and underwrites Islamic Commercial Papers and Medium Term Notes Programmes, Islamic Bonds and Islamic Asset-Backed Securitisation.
RHB Unit Trust Management Bhd manages several Islamic funds, including the RHB Islamic Growth Fund, RHB Islamic Bond Fund and RHB Mudharabah Fund.
The Dow Jones Indexes logo can be found at http://www.primezone.com/newsroom/prs/?pkgid=1289