Thursday, August 9, 2012

ASTRO IPO Is Non-Shariah Compliance??

Past-listed ASTRO

Listing Date: 29 Oct 2003
IPO Price: RM 3.65

De-listing: 2010

Last Price (15 March 2010): RM 3.56
Offer Price : RM 4.30 (21% premium)

Re-listing 2012

Offer Price : RM3.00
Last Date Apply on MITI : 15 August 2012 (Wednesday)
Source :

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.


31 May 2010.
30 Nov 2009.
29 May 2009.

Based on this, I think the re-listing ASTRO most likely to be a non-shariah counter also.

General guidelines for shariah compliant counters, quoted from the document "List of Shariah-Compliant Securities" of "Majlis Penasihat Shariah" of SC :

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

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.

Source : 2012 List of Shariah-compliant Securities by SC's Shariah Advisory Council


I think ASTRO falls under the category (e).

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.

1 comment:

  1. Astro dapat bid utk EPL harga bole naik ke? retail investor