What is the next number in the above sequence?

Competition for the RM100 cash prize is now closed.  We have 12 correct entries of which 11 are qualified entries (1 entry not qualified as the person subscribed to the newsletter after 18 November 2012).

The above brain teaser was only open to our newsletter subscribers who subscribed before 19 November 2012.

Terms and Conditions

1. To submit your answer, click the "Submit" link in the newsletter that was sent to your email address.
2. Enter your answer under "Sequence 2".
3. Choose a unique nickname for us to publish in the Honour Roll in the event that your answer is correct.
4. First 20 correct entries submitted on or before 22 November 2012 will enter into a draw.
5. One winner will walk away with RM100 cash.
6. If no correct entry is received by 22 November 2012, the first correct entry submitted after that date will win the cash reward.
7. Winner will be chosen using a fair and random method and announced on this page.
8. If case of dispute, our decision is final and binding.

Winner

Based on the closing FBMKLCI on 26 November 2012 of 1607.88, and using the method described below, we have a winner!

Congratulations wanleng!  You are the winner of RM100 cash prize.

Method to Determine the Winner

The competition winner will be selected using a fair and transparent method.

The winner will be determined based on the closing FBMKLCI on Monday 26 November 2012 as follows:

1. Take only the 2 digits after the decimal point, and lets say this 2-digit number is X.
2. Divide X by 11, take the remainder and add 1.
3. From the number obtained in Step 2, match it with the rank on the Honour Roll to decide the winner.
4. In the event X is "00", no winner is declared.  The closing FBMKLCI on the next trading day is used instead until a winner is found eventually.

Using the closing FBMKLCI on 19 November 2012 as an example to illustrate the above method:

1. The closing FBMKLCI on 19 November 2012 was 1,623.31.  X is therefore 31.
2. Divide 31 by 11 gives a remainder of 9.  Add 1 and we get 10.
3. The 10th person on the Honour List is Lawrence and based on this method, Lawrence would have been the winner.
4. As X is not "00", the winner as determined is then final, there is no need to use the closing FBCKLCI on 20 November 2012.

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