Mapletree Industrial Trust has replaced Singapore Press Holdings (SPH) in the Straits Times Index (STI) after the June quarterly review, FTSE Russell announced yesterday.

The STI reserve list, comprising the five highest-ranking non-constituents of the STI by market capitalisation, will be: Keppel DC Real Estate Investment Trust (Reit), Suntec Reit, NetLink NBN Trust, Frasers Logistics & Industrial Trust and Keppel Reit.

Stocks on the reserve list will replace any constituents that become ineligible as a result of corporate actions, before the next review.

FTSE Russell has partnered SPH and Singapore Exchange to calculate Singapore's main stock market benchmark.

An SPH spokesman said: "The global economy, including Singapore, has been battered by the Covid-19 pandemic. SPH has not been spared in this challenging business environment.

"However, we have a resilient balance sheet to weather the impact from Covid-19. We will continue to transform the media business with digital innovations and grow our recurring income as well as diversify our revenue streams."

All changes from this review will take effect from the start of trading on June 22.

The next review will be in September.