its standing as a centre for equities trading in East Asia, unveiled the Business Times Singapore Regional Index, or SRI.

The index is made up of 38 stocks, among them are several Bermuda-registered Jardine companies including Jardine Matheson Holdings Ltd. Jardine Strategic Holdings Ltd., Hongkong Land Holdings Ltd., Mandarin Oriental International Ltd. and Dairy Farm International Holdings Ltd.

The index signifies the exchange's evolution from "an exchange catering to fundraising by domestic companies into a centre for international companies to trade shares of regional companies,'' Singapore finance minister Richard Hu said.

The component companies, whose operations range from food processing to hotel management and ship repair, were chosen for their "substantial'' exposure to business in East Asia, the exchange said.

Component companies are weighted according to market capitalisation, a spokeswoman for the stock exchange said.

The base date for the index was 1,000 points on January 3. 1995. The index closed up 0.18 points at 975.49.

To support the index, Mr. Hu said six Singapore banks would create a unit trust, or mutual fund, that will only invest in stocks included in the index.

The unit trust, which will have a minimum investment pool of $35.7 million, will also be listed on the exchange.

Mr. Hu said the number of foreign companies with shares listed in Singapore has risen to 40. Foreign companies, which make up about ten percent of trading, have a combined market capitalisation of more than $105.8 billion.

Another eight foreign companies are poised to list their shares in Singapore in the months ahead, Mr. Hu, also chairman of the Monetary Authority of Singapore, a body with most of the functions of a central bank, said.

Other companies on the index include Acer Computer International Ltd., Cerebos Pacific Ltd., Clipsal Industries Holdings Ltd., Cycle & Carriage Ltd., Datacraft Asia Ltd., Development Bank of Singapore Ltd. (Foreign), Elect & Eltek International Co. Ltd. and Far East Levingston Shipbuilding Ltd.