Creative Drops Out Of STI Index ~ Creative Labs Zen MP3 Players Sound Blaster Card
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Saturday, October 6, 2007

Creative Drops Out Of STI Index

Creative Zen V Plus
On 5th Oct 2007, Singapore Press Holdings (SPH), Singapore Exchange (SGX) and FTSE Group announced the constituents of the revamped Straits Times Index (STI) as well as the other 18 new indices of the FTSE ST Index Series. These indices are expected to go live in January 2008.

Earlier, we have seen Creative Labs voluntarily delist itself from NASDAQ and now its been removed from the revamped STI which consists of 30 Singapore Exchange blue chip companies. The revamped Straits Times Index is now comprising of the top 30 SGX Mainboard listed companies selected by full market capitalisation. Creative Technology is classified under FTSE ST Small Cap Index - comprising the remaining companies within the top 98 per cent by full market capitalisation of the SGX Mainboard.

Not sure if this piece of news will have any significant impact on the share price in SGX. We will know it on Monday. But this is no good news to us as Creative used to be a blue chip and is well-liked by many investors. This new grouping under FTSE ST Small Cap Index normally will not have fund managers' attention and sounds like a downgrade of Creative's stock from blue chip to penny stock status. So sad...

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