Could it be a non-shariah counter?
IPO: Astro Malaysia Holdings Bhd (6399), Relisting of astro in bursa malaysia
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 Jul 18 2012, 03:29 PM
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#1
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215 posts Joined: Jul 2011  
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Jul 18 2012, 04:21 PM
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#2
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QUOTE(zitis @ Jul 18 2012, 03:41 PM) Still in the process, will know end of this month.... I think Looking at its core business, entertainment-related, I think it most likely to be the one. Just my wild guess. |
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Jul 21 2012, 03:51 PM
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#3
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Past-listed ASTRO
Listing Date: 29 Oct 2003 IPO Price: RM 3.65 Source: http://www.shareinvestor.com.my/tools.pl?a...ctsheet&id=5076 Delisting: 2010 Last Price (15 March 2010): RM 3.56 Offer Price : RM 4.30 (21% premium) Source: http://biz.thestar.com.my/news/story.asp?f...04&sec=business Was it Shariah Compliant? Couldn't find under the "List of Shariah-Compliant Securities" endorsed by the "Majlis Penasihat Syariah" of SC. That means, it was a non-shariah counter. Reference: 31 May 2010. http://www.sc.com.my/eng/html/icm/sas/sc_s...iant_100531.pdf 30 Nov 2009. http://www.sc.com.my/eng/html/icm/sas/sc_s...ahcompliant.pdf 29 May 2009. http://www.sc.com.my/eng/html/icm/sas/sc_s...iant_090529.pdf Based on this, I think the re-listing ASTRO most likely to be a non-shariah counter also. So, for those who make investment based on shariah principle, please seek for further info and confirm its shariah status before jumping in. Selamat berpuasa. This post has been edited by Student11: Jul 21 2012, 10:50 PM |
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Jul 22 2012, 10:58 PM
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#4
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General guidelines for shariah compliant counters, quoted from the document "List of Shariah-Compliant Securities" of "Majlis Penasihat Shariah" of SC.
CODE The SAC has applied a standard criterion in focusing on the activities of the companies listed on Bursa Malaysia. As such, subject to certain conditions, companies whose activities are not contrary to the Shariah principles will be classified as Shariah-compliant securities. On the other hand, companies will be classified as Shariah non-compliant securities if they are involved in the following core activities: (a) Financial services based on riba (interest); (b) Gambling and gaming; (c) Manufacture or sale of non-halal products or related products; (d) Conventional insurance; (e) Entertainment activities that are non-permissible according to Shariah; (f) Manufacture or sale of tobacco-based products or related products; (g) Stockbroking or share trading in Shariah non-compliant securities; and (h) Other activities deemed non-permissible according to Shariah. I think ASTRO falls under the category (e). This post has been edited by Student11: Jul 22 2012, 10:59 PM |
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Jul 24 2012, 10:13 PM
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#5
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QUOTE(ckinsg @ Jul 24 2012, 09:45 PM) If u hv d heart to apply tis ipo, go ahead la... Y so damn fussy, hv to consider syariah or not!!!! D most important can give good dividen n excelent capital appreciation!!! Look at guiness n carlsberg!! Superb... It's not a matter of fussy or not. It's about responsibility of a muslim. I highlighted this matter only to remind my muslim friends. You don't have to worry about this shariah matter, as it is not applicable to you. |
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Jul 25 2012, 09:29 AM
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#6
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215 posts Joined: Jul 2011
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You're right. He or she himself/herself to blame on.
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Aug 10 2012, 05:32 PM
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#7
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QUOTE(GloryKnight @ Aug 10 2012, 03:54 PM) btw guys, what happen if our muslim friends buy a non-syariah stock. the money wont go into their bank account? The money still goes to their bank account. However, it's their responsibility to dispose the profit for charity. They should only take their original capital. What if they don't dispose the profit? Well, this is all about how they practice Islam. |
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