Singapore-based Sea is to be included in the MSCI Singapore Index while Suntec Real Estate Investment Trust (Suntec Reit) will be dropped.

The change - from May 28 - comes after MSCI said in November last year that foreign listings will become eligible for the MSCI Singapore indexes after the Singapore market met certain requirements.

The global index provider also named Sea A ADR (Singapore) as one of the three largest additions to the MSCI World Index by full company market capitalisation, alongside Volvo A (Sweden) and Palantir Technologies A (US).

Sea, which is listed in New York, will be among 109 securities added to the flagship global equity index while 96 will be deleted.

It had been previously identified as one of three foreign-listed securities eligible for the MSCI Singapore Investable Market Index during the index provider's February 2021 review.

Sea's long-anticipated MSCI Singapore inclusion is expected to bring the index in line with other global indexes that already have exposure to the new economy sector, noted analysts in March.

Suntec Reit - which will be dropped from the MSCI Singapore Index after joining in November 2014 - was the most actively traded counter by volume at yesterday's open.

It will join its Singapore peers on the MSCI Global Small Cap Indexes along with Haw Par Corporation, iFast Corporation, Nanofilm Technologies, Olam International, Razer and Riverstone Holdings.

Bumitama Agri, GuocoLand, Wing Tai and Yoma Strategic will be deleted from the list of small-cap constituents on the Singapore index.

THE BUSINESS TIMES