Since our previous post in December 2021 highlighting the potential exclusion of ComfortDelGro (CDG) from the Straits Times Index (STI), the inevitable has finally happened! In what must have been a surprise to many, on 1 September 2022, FTSE Russell (the organization that manages the STI and computes the index) announced that there will be one change to the constituents of the STI. And, replacing CDG was a company not on the reserve list! Emperador replaces ComfortDelGro in the Straits Times Index Following FTSE Russell’s September 2022 quarterly review, Emperador has been added to the STI and CDG has been removed from the index.  This will take effect on Monday, 19 September, which means that the last trading day for CDG will be on the Friday, 16 September. The STI reserve list, comprising the five highest ranking non-constituents of the STI by market capitalisation, includes (in order of size):...