Singapore - Thai Beverage and Yangzijiang Shipbuilding Holdings will be dropped from the benchmark Straits Times Index (STI) starting September 22, the Singapore Exchange said on Friday.

Extremely low trading volumes were cited for Thai Beverage and plunging market capitalization for Yangzijiang.

They are to be replaced by plantation firm Golden Agri-Resources and Jardine Matheson Holdings, which owns properties across Asia.

The changes follow a six-month review of the index.

"Half-yearly index reviews ensure that the indices remain an accurate reflection of the market they represent," said the exchange.

The STI comprises the largest 30 companies according to market capitalization.