KUALA LUMPUR: Sunway Healthcare Holdings Bhd's inclusion in the FTSE Bursa Malaysia KLCI (FBM KLCI) effective March 25, a move consistent with forecasts from CIMB Securities Sdn Bhd.

The firm noted that, based on Bursa Malaysia's data, Sunway Healthcare, which made its Main Market debut on March 18 with an investability weight of 18.27 per cent will replace QL Resources Bhd, currently the smallest constituent in the benchmark index by market capitalisation.

"Sunway Healthcare will also be included in the FBM EMAS Shariah Index. Meanwhile, QL Resources will be added to the FBM Mid 70 Index, replacing Malaysian Resources Corp Bhd (MRCB), which will in turn be included in the FBM Small Cap Index.

"All changes will take effect on March 25, following the end of the Hari Raya Aidilfitri holidays on March 24," it said.

CIMB Securities noted that Sunway Healthcare closed at RM1.85 on Wednesday, marking a 27.5 per cent increase from its initial public offering (IPO) price of RM1.45.

With 11.5 billion shares in issue, the company's market capitalisation stands at RM21.28 billion.

By comparison, QL Resources has a market capitalisation of RM13.36 billion, based on its closing price of RM3.66 and 3.65 billion shares outstanding on the same day.

The firm said in its previous note that following the demerger of Sunway Healthcare from Sunway Bhd, and in accordance with Rule 6.2.6 of the FBM Index Series Ground Rules, the lowest-ranked KLCI constituent by full market capitalisation at the close of trading on Sunway Healthcare's first day of listing could be removed.

It added that the stock may be demoted to the FBM Mid 70 Index if Sunway Healthcare's market capitalisation exceeds that of the smallest existing KLCI constituent.

"As QL Resources was the smallest KLCI constituent with a market cap of RM13.36 billion, below Sunway Healthcare's RM21.28 billion, it has been removed from the KLCI," it said.