MSCI keeps Malaysia benchmark unchanged, removes seven small-cap stocks
NationGate Holdings Bhd is the only stock being added to the small-cap index following the review.
MSCI has left membership of its main Malaysian country index unchanged following its latest review, while announcing seven removals and one addition to its Malaysian small-cap benchmark.
The stocks being removed are AEON Credit Service (M) Bhd, AirAsia Group Bhd, KSL Holdings Bhd, Mah Sing Group Bhd, Matrix Concepts Holdings Bhd, Syarikat Takaful Malaysia Keluarga and Zetrix AI Bhd.
NationGate Holdings Bhd, an electronics manufacturing services company, is the sole incoming constituent. Its share price has more than doubled as investors bought into hardware suppliers serving artificial intelligence data centres.
The index provider gave Nov 30, 2025 as the effective date for the changes, after trading closes. It scheduled the next review for Feb 9, 2027.
Malaysia has 21 constituents in MSCI’s standard index, which tracks large- and mid-cap stocks and covers about 85% of the country’s equity universe. The small-cap benchmark currently comprises 64 stocks, representing about 14% of Malaysia’s stock market.
