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Surpassing the giants, 99 Speed Mart aims to rise among the top 30 Malaysian stocks.

(Image from 99 Speed Mart Facebook)
(Image from 99 Speed Mart Facebook)
(Kuala Lumpur, 23rd) 99 Speed Mart $99SMART (5326.MY)$After listing, the stock price skyrocketed, and the market cap has now surpassed the two giants of Genting, only a step away from the top 30 listed companies in our country.
99 Speed Mart's stock price once reached 2 ringgit today, but after a slight pullback, it closed at 1.99 ringgit, up 1.53% or 3 cents for the day. Compared to the IPO price of 1.65 ringgit, it rose by 20.61%.
This has also brought the company's market cap to 16.761 billion ringgit, surpassing Genting's 15.973 billion ringgit, and Genting Malaysia's 13.895 billion ringgit; other blue chips that are surpassed in market cap include Sime Darby with a market cap of 16.153 billion ringgit. $GENTING (3182.MY)$ of 15.973 billion ringgit, and Genting Malaysia's 13.895 billion ringgit; other blue chips that are surpassed in market cap include Sime Darby with a market cap of 16.153 billion ringgit. $GENM (4715.MY)$Blue chip stocks that have been surpassed include Genting with a market cap of 13.895 billion ringgit; and also Sime Darby with a market cap of 16.153 billion ringgit. $SIME (4197.MY)$
This is the largest chain of mini supermarkets in our country, currently ranked 31st in our country's market cap list, slightly behind the 30th place with a market cap of 16.975 billion ringgit for QL Resources. $QL (7084.MY)$
However, there are still several months until the review of the sse conglomerates index components in December, whether 99 Speed Mart can make it into the sse conglomerates index remains to be seen.
According to the review rules of the sse conglomerates index components, several main factors may cause changes in the list, including non-components' market cap needing to rise to the top 25 positions; or components falling out of the top 36; and the selected stocks need to have a free float of 15% or more, and pass the liquidity test.
Currently, the stock item that is highly anticipated to enter the sse conglomerates index components is Jinwool Group, currently ranked 21st. $GAMUDA (5398.MY)$
Source of information: Nanyang Siang Pau
Disclaimer: This content is for reference and education purposes only, and does not constitute any specific investment, investment strategy, or recommendation. Readers should bear any risks and responsibilities arising from relying on this content. Before making any investment decisions, be sure to conduct your own independent research and evaluation, and consult with professional advisors when necessary. The author and related parties are not responsible for any losses or damages caused by the use or reliance on the information contained in this article.
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《南洋商报》创立于1923年,是马来西亚历史最悠久的中文报纸之一。以财经及商业新闻为主,是商家与投资者必备的新闻资讯平台。
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