KUALA LUMPUR (April 14): Malaysia’s FBM KLCI will likely keep all of its 30 current constituents at the upcoming semi-annual review for the first time in three years, MIDF Amanah Investment Bank said on Monday.

The positions of Gamuda Bhd (KL:GAMUDA) and 99 Speed Mart Retail Holdings Bhd (KL:99SMART), both of which were included in the benchmark index during the December 2024 review, appear comfortable for now, the research house said. The next cut-off date is May 26, 2025.

“No other stocks have risen or fallen to the threshold stated in the ground rules for additions or deletions at the moment,” MIDF said.

A stock’s market capitalisation must be at least the top 25 by the cut-off date to be added while a decline to 36th or below would trigger a removal. Further, a stock must also have at least 15% of its shares in the hands of public investors to be considered for admission or expulsion.

Malaysia’s recent market volatility, triggered by Trump’s sweeping tariffs and its subsequent pause, has been largely broad-based.

The closest in a reserve list is AMMB Holdings Bhd (KL:AMBANK), which ranks 28th. If the company closes its 3.2% market cap gap with QL Resources Bhd (KL:QL), which MIDF considers “improbable”, Mr DIY Group (M) Bhd (KL:MRDIY) at 33rd place could be removed from the index.

For now, MIDF said the most likely change is the inclusion of KPJ Healthcare Bhd (KL:KPJ) into the reserve list that comprises five largest non-constituents of the index, replacing Malaysia Airports Holdings Bhd following its recent delisting.

Other members of the reserve list are Genting Bhd (KL:GENTING), United Plantations Bhd (KL:UTDPLT) and Westports Holdings Bhd (KL:WPRTS).