SC Scorecard Q1 2011 & Statistics of Submissions Approved by the SC in Q1 2011

A. Corporate Submissions to the SC – Q1 2011

Table 1: Status of Substantive Applications as at 31 March 2011

Applications	Total
Balance brought forward from Q4 2010	7
Add: Applications received in Q1 2011	35
Total applications	42⁽¹⁾
Less: Applications Considered/Withdrawn in Q1 2011	(24)
Balance carried forward to Q2 2011	18

⁽¹⁾ Including one re-application which was deferred in the previous quarter.

Table 2: Substantive Applications Considered/Withdrawn in Q1 2011

Type of Applications	Considered			Withdrawn	Total
Type of Applications	Approved	Rejected	Returned ⁽¹⁾	Withdrawn	Total
Initial Public Offering Main Market	1	–	1	–	2
Reverse Take-Overs and Restructurings	–	–	–	1	1
Transfer to Main Market	–	–	–	–	–
Private Debt Securities	17	–	1	–	18
Others⁽²⁾	3	–	–	–	3
TOTAL	21	–	2	1	24

⁽¹⁾ Main reasons for the returned applications were poor standards of submissions, such as non-compliance with guidelines.

⁽²⁾ Offering of equity securities by foreign corporations with no listing on Bursa Malaysia.

Table 3: Processing Turnaround Time for Substantive Applications Considered in Q1 2011

Substantive Applications	Within Time Charter⁽¹⁾		Exceed Time Charter⁽²⁾		Total
	No.	%	No.	%	No.	%
	22	96	1	4	23	100

(1) The SC time charter for processing is computed from the date complete information is received up to the date of the decision letter. Time charter is applicable to the following applications:

Initial public offerings (IPOs) and acquisitions of assets resulting in a significant change in the business direction/policy of a listed company: 52 working days;
Large capitalisation IPO applications and transfer of listing from the ACE Market to the Main Market of Bursa Malaysia: 32 working days; and
Private debt securities: Deemed approval/authorisation and 14 working days.

(2)Main reasons for exceeding time charter are the need for further explanation/clarification on certain pertinent issues and for enhanced disclosures.

Table 4: Status of Licensing Applications in Q1 2011

Type of licence application	Received	Withdrawn	Returned	Considered	Approved	Rejected	Pending
Representative
New	266	5	13	248	203	–	45
Renew	1,069	–	4	1,065	1,050	–	15
Corporation
New	9	–	–	9	3	–	6
Renew	46	1	2	43	37	–	6
Individual
New	–	–	–	–	–	–	–
Renew	–	–	–	–	–	–	–
Total	1,390	6	19	1,365	1,293	–	72

Note:

⁽¹⁾16 applications comprising 12 Ringgit-denominated issues and 4 foreign currency-denominated issues of conventional PDS and sukuk (Tables 5 & 6).
⁽²⁾33 applications comprising 28 Ringgit-denominated issues and 8 foreign currency-denominated issues of conventional PDS and sukuk (Tables 5 & 6).
⁽³⁾17 applications comprising 14 Ringgit-denominated issues and 3 foreign currency-denominated issues of conventional PDS and sukuk (Tables 5 & 6).

Table 5: Processing Turnaround Time for Licensing Applications in Q1 2011

Type of licence application	Within time charter		Exceeds time charter		Subtotal	Exception		Total reported
Type of licence application	Total	%	Total	%	Subtotal	Total	%	Total reported
Representative
New	199	99.50	1	0.50	200	3	1.48	203
Renewal	1,049	99.90	1	0.10	1,050	0	0	1,050
Corporation
New	3	0	0	0	3	0	0	3
Renewal	32	100	0	0	32	5	13.51	37
Individual
New	0	0	0	0	0	0	0
Renewal	0	0	0	0	0	0	0
Total	1,283	99.84	2	0.16	1,285	8	0.62	1,293

Note:

⁽¹⁾Include 2 asset-backed securities (ABS) amounting to RM3,100.0 million.
⁽²⁾Combination of sukuk and conventional notes.

B. Corporate Submissions Approved by the SC – Q1 2010
i) Proposals Approved
Table 6: Number of Corporate Proposals Approved

Type of Proposals	No. of Corporate Proposals Approved
Type of Proposals	Q1 2011	Q4 2010	Q1 2010
Initial Public Offering Main Market	1	9	10
Reverse Take-Overs and Restructurings	–	–	–
Transfer to Main Market	–	2	1
Private Debt Securities	17	27	8
Others	3⁽¹⁾	4	–
TOTAL	21	42	19

Note:

⁽¹⁾ Offering of equity securities by foreign corporations with no listing on Bursa Malaysia.

ii) Private Debt Securities

Table 7: Approved RM-Denominated PDS Issues

Type	Q1 2011		Q4 2010		Q1 2010
Type	No. of issues	Size (RM mil)	No. of issues	Size (RM mil)	No. of issues	Size (RM mil)
Conventional PDS	9⁽¹⁾	5,918.29	15⁽²⁾	7,134.97	5⁽³⁾	8,586.00
Sukuk	5	7,770.00	8	20,565.00	2	590.00
Combination⁽⁴⁾	–	–	–	–	–	–
Total	14	13,688.29	23	27,699.97	7	9,176.00

⁽¹⁾ Include 2 asset-backed securities (ABS) amounting to RM3,100.0 million.

⁽²⁾ Include 1 ABS amounting to RM400.0 million.
⁽³⁾ Include 2 ABS amounting to RM1,400.0 million.
⁽⁴⁾ Combination of conventional and sukuk.

Table 8: Approved Foreign Currency-Denominated PDS Issues by Foreign Corporations

Type	Q1 2011		Q4 2010		Q1 2010
Type	No. of issues	Size (RM mil)	No. of issues	Size (RM mil)	No. of issues	Size (RM mil)
Conventional	–	–	1⁽¹⁾	176.89	–	–
Sukuk	1⁽¹⁾	– ⁽²⁾	3⁽¹⁾	750.00⁽³⁾	1⁽¹⁾	450.00
Combination⁽⁴⁾	–	–	–	–	–	–
Total	1	–	4	926.89	1	450.00

Note:

⁽¹⁾ Offers in Malaysia were part of a global offering.
⁽²⁾ Offer size had yet to be finalised at the point of approval.
⁽³⁾ Include 2 proposals which had yet to finalise the offer size at the point of approval.

Table 9: Approved Foreign Currency-Denominated PDS Issues by Malaysian Issuers

Type	Q1 2011		Q4 2010		Q1 2010
Type	No. of issues	Size (RM mil)	No. of issues	Size (RM mil)	No. of issues	Size (RM mil)
Conventional	2	1,300.00	–	–	–	–
Sukuk	–	–	–	–	–	–
Combination	–	–	–	–	–	–
Total	2	1,300.00	–	–	–	–

iii) Take-Overs & Mergers Table

10: Number of Approved Submissions Relating to the Malaysian Code on Take-Overs and Mergers

Type	Number of Submissions Approved
Type	Q1 2011	Q4 2010	Q1 2010
Clearance of offer document	6	11	5
Application for exemption from mandatory offer obligation	4	6	10
Others	28	29	19
Total	38	46	34

iv) Unit Trusts & Collective Investment Schemes

Table: 11: Number of Submissions Relating to Unit Trusts and Other Collective Investment Schemes Approved

Type	Number of Submissions Approved
Type	Q1 2011	Q4 2010	Q1 2010
Establishment of new funds	16	17	24
Increase in fund size	13	9	16
Exemption/variation from Guidelines⁽¹⁾	4	1	4
Other applications⁽²⁾	13	10	13
Total	46	37	57

Note:

⁽¹⁾ Excluding applications submitted through the establishment of new schemes.
⁽²⁾ Including applications for extension of time and change of management company.

C. Licensing

Table 10: Status of Licensing Applications

Type	Received	Withdrawn	Returned	Considered	Approved	Rejected	Pending
Representative	247	6	13	228	174	–	54
Corporation	8	1	–	7	–	–	7
Individual	–	–	–	–	–	–	–
Total	255	7	13	235	174	–	61

Table 11: Processing Turnaround Time for Licensing Applications

New licence application	Within time charter		Exceeds time charter		Subtotal	Exception		Total approved
New licence application	Total	%	Total	%	Subtotal	Total	%	Total approved
Representative	173	99.43	1⁽³⁾	0.57	174	–	–	174
Corporation	–	–	–	–	–	–	–	–
Individual	–	–	–	–	–	–	–	0
Total	173	99.43	1	0.57	174	–	–	174

Note:

(3) The time charter was exceeded by one business day, for one application.