Just an update refer to blog by dollardollarbill (Pentamaster, Shariah funds ready to pounce [$$bill])
https://klse.i3investor.com/blogs/dollardollarbill/2020-05-20-story-h1507749134-Pentamaster_Shariah_funds_ready_to_pounce_bill.jsp
Pentamaster is finally back into Shariah list. The report is available in Securities Commission website and below is some of the highlights.Its inclusion to the shahriah-compliant list will result in buying by potential institutional funds which have the mandate to invest in syariah-compliant only stocks.
Previously Pentamaster was delisted due to
1. cash to total asset ratio exceeded than 33%
2. more than 5% of the interest earned from the cash deposits were not derived from interest earned under Islamic law with the deposits placed in Islamic accounts or Islamic instruments.
Pentamaster management managed to rectified these issue in the first half of 2019.
For more details on the background of why pentamaster is delisted from the list and its implication, you can refer to blog post written by dollardollarbill.
You can refer the full report in the link below.
https://www.sc.com.my/api/documentms/download.ashx?id=dd80630a-6dd5-45ae-bedb-75f0586fe3ec
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https://klse.i3investor.com/blogs/pentamasterinfo/2020-05-28-story-h1507892259-Pentamaster_is_now_Shariah_Compliance.jsp
