Bursa Malaysia Securities Bhd has reclassified Xin Synergy Group Bhd from the Industrial Products and Services sector to the Property sector, with the change taking effect on Oct 12.
The stock exchange said the revised classification, effective from 9am, will also see Xin Synergy’s sub-sector changed from Building Materials to Property, reflecting developments in the company’s core business activities.
The company’s stock short name, XIN, and stock code, 7043, will remain unchanged.
Bursa Malaysia said the reclassification takes into account changes in the company’s business activities and the contribution of its core operations to its financial performance.
The move places Xin Synergy alongside other property-sector counters on Bursa Malaysia, giving investors an updated sector classification when assessing the company’s business profile.
Bursa Malaysia added that periodic sector and sub-sector classification updates are intended to keep investors and market participants informed of developments involving listed companies across the Main Market, ACE Market and LEAP Market.
