SC Scorecard Q1 2012 & Statistics of Submissions Approved by the SC in Q1 2012

A. Corporate Submissions to the SC – Q1 2012

Table 1: Status of Substantive Applications as at 31 March 2012

Applications	Total
Balance brought forward from Q4 2011	12
Add: Applications received in Q1 2012	19
Total applications	31
Less: Applications Considered in Q1 2012	(22)
Less: Applications Withdrawn in Q1 2012	(-)
Balance carried forward to Q2 2012	9

Table 2: Substantive Applications Considered/Withdrawn in Q1 2012

Type of Applications	Considered			Withdrawn	Total
Type of Applications	Approved	Not Approved	Returned	Withdrawn	Total
Initial Public Offering Main Market	1	–	–	–	1
Reverse Take-Overs and Restructurings	2	–	–	–	2
Transfer from ACE Market to Main Market	–	–	–	–	–
Private Debt Securities	16	–	–	–	16
Others	3	–	–	–	3
TOTAL	22	–	–	–	22

Table 3: Processing Turnaround Time for Substantive Applications Considered in Q1 2012

Substantive Applications	Within Time Charter⁽¹⁾		Exceed Time Charter⁽²⁾		Total
	No.	%	No.	%	No.	%
	19	86	3	14	22	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.

B. Corporate Applications Approved by the SC – Q1 2012

i) Applications Approved
Table 4: Number of Applications Approved

Type of Applications	No. of Applications Approved/Lodged
Type of Applications	Q1 2012	Q4 2011	Q1 2011
Initial Public Offerings Main Market	1	2	1
Reverse Take-Overs and Back-Door Listings	2	3	–
Transfers from ACE Market to Main Market	–	1	–
Secondary Listing	16⁽¹⁾	33⁽²⁾	17⁽³⁾
Others	3	4	3
TOTAL	22	43	21

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).

ii) Private Debt Securities (PDS)

Table 5: Approved Ringgit-Denominated issues

Type	Q1 2012		Q4 2011		Q1 2011
Type	No. of issues	Size (RM mil)	No. of issues	Size (RM mil)	No. of issues	Size (RM mil)
Conventional PDS	8	10,412.08	13	6,544.79	9⁽¹⁾	5,918.29
Sukuk	4	11,525.00	15	41,698.10	5	7,770.00
Combination⁽¹⁾	–	–	–	–	–	–
Total	12	21,937.08	28	48,242.89	14	13,688.29

Note:

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

Table 6: Approved foreign currency-denominated issues by foreign corporations⁽¹⁾

Type	Q1 2012		Q4 2011		Q1 2011
Type	No. of issues	Size	No. of issues	Size	No. of issues	Size
Conventional PDS	1	SGD2.0 billion	1	IDR1.5 trillion	–	–
Sukuk	3	USD2.4 billion⁽²⁾	7	USD200.0 million⁽³⁾	1	USD500.0 million
Combination	–	–	–	–	–	–
Total	1	SGD2.0 billion	1	IDR1.5 trillion	1	USD500.0 million
Total	3	USD2.4 billion	7	USD200.0 million	1	USD500.0 million

Note:

⁽¹⁾ Offers in Malaysia were part of global offerings.

⁽²⁾ 1 proposal has yet to finalise the offer size at the point of approval.
⁽³⁾ 6 proposals have yet to finalise the offer size at the point of approval.

Table 7: Approved and authorised foreign currency-denominated issues by Malaysian issuers

Type	Q1 2012		Q4 2011		Q1 2011
Type	No. of issues	Size (RM mil)	No. of issues	Size (RM mil)	No. of issues	Size (RM mil)
Conventional PDS	–	–	–	–	2	USD1.3 billion
Sukuk	–	–	–	–	–	–
Combination	–	–	–	–	–	–
Total	–	–	–	–	2	USD1.3 billion

iii) Take-Overs & Mergers

Table 8: Number of Submissions Considered under the Malaysian Code on Take-overs and Mergers 2010

Type	Number of Submissions Considered
Type	Q1 2012	Q4 2011	Q1 2011^
Clearance of offer document	7	3	6
Exemption from mandatory offer obligation	5	6	5
Clearance of independent advice circular	8	7	8
Others*	9	13	6
Total	29	29	25

Note:

* Include extension of time, rulings, waiver from provisions of the Code, other ancillary applications and related decisions.
^ Certain comparable figures for Q1 2011 have been restated to conform to the current quarter’s presentation.

iv) Unit Trusts & Collective Investment Schemes

Table 9: Number of Submissions Relating to Unit Trusts and Other Collective Investment Schemes Approved

Type	Number of Applications Approved
Type	Q1 2012	Q4 2011	Q1 2011
Establishment of new funds	14	33	16
Increase in fund size	43	17	13
Exemption/variation from Guidelines⁽¹⁾	1	1	4
Other applications⁽²⁾	20	9	13
Total	78	60	46

Note:

⁽¹⁾ Excludes applications submitted through the establishment of new schemes.
⁽²⁾ Includes applications for extension of time and clearance of operation audit scope.

Table 10: Status of Licensing Applications as at 1 January – 31 March 2012 (Q1)

New licence application	Received	Withdrawn	Returned	Considered	Approved	Rejected	Pending
Representative	360	6	24	330	256	0	74
Corporation	6	2	4	0	0	0	0
Individual	0	0	0	0	0	0	0
Total	366	8	28	330	256	0	74

Table 11: Processing Turnaround Time for Licensing Applications, 1 January – 31 March 2012 (Q1)

New licence application
	Within time charter		Exceeds time charter		Subtotal	Exception		Total approved
	Total	%	Total	%	Subtotal	Total	%	Total approved
Representative	240	94.12	15	5.88	255	1	0.39	256
Corporation	0	0	0	0	0	0	0	0
Individual	0	0	0	0	0	0	0	0
Total	240	94.12	15	5.88	255	1	0.39	256

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.