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Attractive investment for Muslim Filipinos guided by the principles of Allah
Ensure adherence to the moral code and religious laws of Islam
Opportunity for socially responsible investing
With its continuing objective of expanding the investor base of the stock market, the Philippine Stock Exchange (PSE) has developed its Shariah stock market program to open up more investment opportunities for Muslims in the Philippines and worldwide. The PSE aims to achieve the following goals under its Shariah stock market program:
Ethical Investment Climate. The adoption of Shariah in the capital market will help foster an ethical investment climate that provides opportunities for local Islamic investors to comfortably participate in the Philippine business community. Due to the ethical stance of putting premium on compliance to Islamic laws over profitability, Islamic investors can better gauge the risks involved in their investments.esia.
1. Business Screening. Shariah compliance screens companies based on their businesses in adult entertainment, alcohol, cinema, defense & weapons, financial services (insurance, conventional banking, conventional financial institutions, derivatives, mortgage, etc.), gambling, gold and silver hedging, interest-bearing investments, music, pork, and tobacco. Companies’ income derived from these activities must be less than 5%.
2. Financial Ratios Screening. This process ensures that the company’s financial ratios adhere to Shariah standards based on the following:
Report Type:
As of Date:
Prepared By:
June 25, 2022
Ideal Rating Support Team
| Name | Fiscal Period | Period End Date | Ticker | Isin |
|---|---|---|---|---|
| AgriNurture, Inc. | 2022 Q 1 | March 31, 2022 | ANI PH | PHY002851178 |
| AllHome Corp. | 2021 Q 1 | March 31, 2022 | HOME PH | PHY0040P1094 |
| Altus Property Ventures, Inc. | 2022 Q 1 | March 31, 2022 | APVI PH | PHY0100W1019 |
| Asian Terminals, Inc. | 2022 Q 1 | March 31, 2021 | ATI PH | PHY0367R1006 |
| ATN Holdings, Inc. “A” | 2022 Q 3 | March 31, 2022 | ATN PH | PHY044891869 |
| ATN Holdings, Inc. “B” | 2022 Q 3 | December 31, 2021 | ATNB PH | PHY044891943 |
| Axelum Resources Corp. | 2022 Q 1 | March 31, 2022 | AXLM PH | PHY0564R1015 |
| AyalaLand Logistics Holdings Corp. | 2022 Q 1 | March 31, 2022 | ALLHC PH | PHY0490Q1023 |
| Benguet Corporation “A” | 2022 Q 1 | March 31, 2022 | BC PH | PHY078321353 |
| Benguet Corporation “B” | 2021 | December 31, 2021 | BCB PH | PHY078321437 |
| Berjaya Philippines, Inc. | 2022 Q 2 | December 31, 2021 | BCOR PH | PHY0860R1024 |
| Centro Escolar University | 2022 Q 2 | February 28, 2022 | CEU PH | PHY124441163 |
| Century Peak Holdings Corporation | 2022 Q 1 | March 31, 2022 | CPM PH | PHY1R81B1096 |
| Chemical Industries of the Philippines, Inc. | 2022 Q 1 | March 31, 2022 | CIP PH | PHY1305B1080 |
| Citicore Energy REIT Corp. | 2022 Q 1 | March 31, 2022 | CREIT PH | PHY1642D1064 |
| Concepcion Industrial Corporation | 2022 Q 1 | March 31, 2022 | CIC PH | PHY1694P1067 |
| Concrete Aggregates Corp. “A” | 2022 Q 1 | March 31, 2022 | CA PH | PHY104151006 |
| Concrete Aggregates Corp. “B” | 2022 Q 1 | March 31, 2022 | CAB PH | PHY104151188 |
| Converge Information and Communications Technology Solutions, Inc. | 2022 Q 1 | March 31, 2022 | CNVRG PH | PHY1757W1054 |
| Crown Asia Chemicals Corporation | 2022 Q 1 | March 31, 2022 | CROWN PH | PHY1804M1000 |
| D&L Industries, Inc. | 2022 Q 1 | March 31, 2022 | DNL PH | PHY1973T1008 |
| DDMP REIT, Inc. | 2022 Q 1 | March 31, 2022 | DDMPR PH | PHY2000J1070 |
| Eagle Cement Corporation | 2022 Q 1 | March 31, 2022 | EAGLE PH | PHY3003W1037 |
| Easycall Communications Philippines, Inc. | 2022 Q 1 | March 31, 2022 | ECP PH | PHY2235X1459 |
| Ever-Gotesco Resources and Holdings, Inc. | 2022 Q 1 | March 31, 2022 | EVER PH | PHY2362X1082 |
| Golden MV Holdings, Inc. | 2022 Q 1 | March 31, 2022 | HVN PH | PHY2750E1002 |
| Greenergy Holdings Incorporated | 2022 Q 1 | March 31, 2022 | GREEN PH | PHY2886E1157 |
| Holcim Philippines, Inc. | 2022 Q 1 | March 31, 2022 | HLCM PH | PHY3232G1014 |
| iPeople, Inc. | 2022 Q 1 | March 31, 2022 | IPO PH | PHY4176Q1398 |
| IPM Holdings, Inc. | 2022 Q 1 | March 31, 2022 | IPM PH | PHY4256D1073 |
| Keppel Philippines Properties, Inc. | 2022 Q 1 | March 31, 2022 | KEP PH | PHY4738E1039 |
| LBC Express Holdings, Inc. | 2022 Q 1 | March 31, 2022 | LBC PH | PHY5228G1023 |
| Lepanto Consolidated Mining Company “A” | 2022 Q 1 | March 31, 2022 | LC PH | PH5267322015 |
| Lepanto Consolidated Mining Company “B” | 2022 Q 1 | March 31, 2022 | LCB PH | PH5267323005 |
| Liberty Flour Mills, Inc. | 2022 Q 1 | March 31, 2022 | LFM PH | PHY5274K1061 |
| MacroAsia Corporation | 2022 Q 1 | March 31, 2022 | MAC PH | PHY5369R1078 |
| Manila Electric Company | 2022 Q 1 | March 31, 2022 | MER PH | PHY5764J1483 |
| Marcventures Holdings, Inc. | 2022 Q 1 | March 31, 2022 | MARC PH | PHY6131Y1157 |
| Medilines Distributors Incorporated | 2022 Q 1 | March 31, 2022 | MEDIC PH | PHY5921R1087 |
| Metro Alliance Holdings & Equities Corporation “A” | 2022 Q 1 | March 31, 2021 | MAH PH | PHY602711061 |
| Metro Alliance Holdings & Equities Corporation “B” | 2022 Q 1 | March 31, 2022 | MAHB PH | PHY602711145 |
| Monde Nissin Corporation | 2022 Q 1 | March 31, 2022 | MONDE PH | PHY6142T1052 |
| MRC Allied, Inc. | 2022 Q 1 | March 31, 2022 | MRC PH | PHY6145G1260 |
| MREIT, Inc. | 2022 Q 1 | March 31, 2022 | MREIT PH | PHY6143N1073 |
| Nickel Asia Corporation | 2022 Q 1 | March 31, 2022 | NIKL PH | PHY6350R1069 |
| Now Corporation | 2022 Q 1 | March 31, 2022 | NOW PH | PHY6389H1116 |
| Philippine Infradev Holdings Inc. | 2022 Q 1 | March 31, 2022 | IRC PH | PHY6908B1080 |
| Premiere Horizon Alliance Corporation | 2022 Q 1 | March 31, 2022 | PHA PH | PHY7092E1065 |
| PTFC Redevelopment Corporation | 2022 Q 2 | February 28, 2022 | TFC PH | PHY7139G1068 |
| PXP Energy Corporation | 2022 Q 1 | March 31, 2022 | PXP PH | PHY7S66G1036 |
| RFM Corporation | 2022 Q 1 | March 31, 2022 | RFM PH | PHY727881542 |
| RL Commercial REIT, Inc. | 2022 Q 1 | March 31, 2022 | RCR PH | PHY7319E1039 |
| Semirara Mining and Power Corporation | 2022 Q 1 | March 31, 2022 | SCC PH | PHY7628G1124 |
| SFA Semicon Philippines Corporation | 2022 Q 1 | March 31, 2022 | SSP PH | PHY7690E1020 |
| SPC Power Corporation | 2022 Q 1 | March 31, 2022 | SPC PH | PHY8120B1062 |
| Swift Foods, Inc. | 2022 Q 1 | March 31, 2022 | SFI PH | PHY8321K1035 |
| The Philodrill Corporation | 2022 Q 1 | March 31, 2022 | OV PH | PHY8791A1483 |
| Universal Robina Corporation | 2022 Q 1 | March 31, 2022 | URC PH | PHY9297P1004 |
| Victorias Milling Company, Inc. | 2022 Q 2 | March 31, 2022 | VMC PH | PHY936601350 |
| Wellex Industries, Inc. | 2022 Q 1 | March 31, 2022 | WIN PH | PHY9534C1028 |
| Wilcon Depot, Inc. | 2022 Q 1 | March 31, 2022 | WLCON PH | PHY9584X1055 |
| Xurpas, Inc. | 2022 Q 1 | March 31, 2022 | X PH | PHY9730B1062 |
| Zeus Holdings, Inc. | 2022 Q 1 | March 31, 2022 | ZHI PH | PHY9890F1031 |
| Title | Content |
|---|---|
| AAOIFI Shari’a Standard No. 21 – Financial Papers |
 |
| AAOIFI Shari’a Standard No. 21 – Rules for Dealing of Shares |
|
| AAOIFI Shari’a Standard No. 21 – Rules for Issuance of Shares |
|
| PSE Guidelines on Screening of Securities for Shariah Compliance |
|
| Title | Content |
|---|---|
| Ideal Ratings Profile |
|
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