Referring to Announcement of Indonesia Stock Exchange (IDX) No. Peng-00379/BEI.POP/11-2021 dated 30 November 2021, PT Selamat Sempurna Tbk (SMSM) became one of the stock member in Indonesia Sharia Stock (ISSI) Index for period December 2021 - May 2022.
Short brief about Indonesia Sharia Stock Index
On May 12, 2011, IDX issued the Indonesia Sharia Stock (ISSI) Index, which is an index that measures the stock price performance of all listed stocks in Main Board and Development Board of the IDX that included on Sharia Securities List issued by the Financial Services Authority.
The ISSI Index calculation method uses the Capped Free-Float Adjusted Market Capitalization Weighted Average. This index uses the free float market capitalization as the weight by imposing a capping on a stock in the highest index of 9% at the time of evaluation. IDX sets the base date for the ISSI Index on December 31, 2007 with a base value of 100.
IDX will conduct 2 types of periodic evaluations of the ISSI Index, which are Major Evaluations which include evaluations of constituents and readjustments to the weight of stocks in the index. Next is the Minor Evaluation which only includes a readjustment of the weight of stocks in the index. Major Evaluation of the ISSI Index will be conducted at the end of May and November, which will be effective every first Exchange Day in June and December. Minor evaluations for the index are carried out at the end of February and August, which will then be effective every first Exchange Day in March and September.