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November 28, 2008

Malaysia regulator updates Islamic stocks list

The Securities Commission said 87 percent of securities listed on Bursa Malaysia met Islamic law standards, which forbids activities such as interest-based lending, gambling, alcohol and tobacco, which are deemed unethical.

Previously, 85 percent of the securities were sharia-compliant.

The updated list released on Thursday adds 25 securities including auto distributor Tan Chong Motor Holdings Bhd, property developers Equine Capital Bhd and IJM Land Bhd and steel company Perwaja Holdings Bhd.

Warehouse operator Integrated Logistics Bhd and palm oil firm Unico Desa Plantations Bhd have been dropped.

The list is updated twice a year and is available on the Securities Commission's website at

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