SC Scorecard Q1 2013 & Statistics of Submissions Approved by the SC in Q1 2013

A. Corporate Submissions to the SC – Q1 2013

Table 1: Status of Substantive Applications as at 31 March 2013

Applications	Total
Balance brought forward from Q4 2012	26
Add: Applications received in Q1 2013	20
Total applications	46
Less: Applications Considered in Q1 2013	(30)
Less: Applications Withdrawn in Q1 2013	(-)
Balance carried forward to Q2 2013	16

Table 2: Substantive Applications Considered/Withdrawn in Q1 2013

Type of Applications	Considered			Withdrawn	Total
Type of Applications	Approved	Not Approved	Returned	Withdrawn	Total
Initial Public Offering Main Market	3	–	1	–	4
Reverse Take-Overs and Restructurings	1	–	–	–	1
Transfer from ACE Market to Main Market	1	–	–	–	1
Private Debt Securities (PDS)	22	–	1	–	23
Others	1	–	–	–	1
TOTAL	28	–	2	–	30

Table 3: Processing Turnaround Time for Substantive Applications Considered in Q1 2013

Total Substantive Applications Considered	Within Time Charter⁽¹⁾		Exceed Time Charter⁽²⁾		Total
Total Substantive Applications Considered	No.	%	No.	%	No.	%
30	28	93	2	7	30	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 2013

i) Applications Approved
Table 4: Number of applications approved/authorised

Type of Applications	No. of Applications Approved/Lodged
Type of Applications	Q1 2013	Q4 2012	Q1 2012
Initial Public Offerings Main Market	3	6	1
Reverse Take-Overs and Back-Door Listings	1	1	2
Transfers from ACE Market to Main Market	1	–	–
Secondary Listing	22⁽¹⁾	26⁽²⁾	16⁽³⁾
Others	1	6	3
TOTAL	28	39	22

Note:

⁽¹⁾ 22 applications comprising 18 Ringgit-denominated issues and 4 foreign currency-denominated issues of conventional PDS and sukuk (Tables 5, 6 & 7)
⁽²⁾ 26 Ringgit-denominated issues of conventional PDS and sukuk (Table 5).
⁽³⁾ 16 applications comprising 12 Ringgit-denominated issues and 4 foreign currency-denominated issues of conventional PDS and sukuk (Tables 5 & 6).

ii) Private Debt Securities (PDS) and Sukuk

Table 5: Approved and Lodged Ringgit-denominated Issues

Type	Q1 2013		Q4 2012		Q1 2012
Type	No. of issues	Size (RM mil)	No. of issues	Size (RM mil)	No. of issues	Size (RM mil)
Conventional PDS	8	5,148.00	9	2,216.15	8	10,412.08
Sukuk	10	7,410.00	17	21,518.38	4	11,525.00
Combination⁽¹⁾	–	–	–	–	–	–
Total	18	12,558.00	26	23,734.53	12	21,937.08

Note:

⁽¹⁾Combination of sukuk and conventional notes.

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

Type	Q1 2013		Q4 2012		Q1 2012
Type	No. of issues	Size	No. of issues	Size	No. of issues	Size
Conventional PDS	–	–	–	–	1	SGD2.0 billion
Sukuk	3⁽²⁾	USD35.0 million	–	–	3	USD4.15 billion
Combination	–	–	–	–	–	–
Total	3	USD35.0 million	–	–	1	SGD2.0 billion
Total	3	USD35.0 million	–	–	3	USD4.15 billion

Note:

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

⁽²⁾2 issues have yet to finalise the offer size at the point of authorisation.

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

Type	Q1 2013		Q4 2012		Q1 2012
Type	No. of issues	Size (RM mil)	No. of issues	Size (RM mil)	No. of issues	Size (RM mil)
Conventional PDS	–	–	–	–	–	–
Sukuk	1⁽¹⁾	USD1.5 billion	–	–	–	–
Combination	–	–	–	–	–	–
Total	1	USD1.5 billion	–	–	–	–

Note:

⁽¹⁾ Multi-currency issue.

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 2013	Q4 2012	Q1 2012
Clearance of offer document⁽¹⁾	8	6	7
Clearance of independent advice circular	5	10	5
Exemption from mandatory offer obligation	13	9	8
Others⁽²⁾	6	11	9
Total	32	36	29

Note:

⁽¹⁾ Including documents relating to schemes for control under the Companies Act 1965.
⁽²⁾ Including the eligibility to act as independent adviser for take-over proposals, extension of time, rulings, ancillary applications and other related decisions.

iv) Collective Investment Schemes and Private Retirement Schemes

Table 9: Number of applications approved relating to unit trusts, other collective investment schemes and private retirement schemes

Type	Number of Applications Approved
Type	Q1 2013	Q4 2012	Q1 2012
Establishment of new collective investment schemes	15	29	14
Establishment of retirement funds	0	8	0
Increase in fund size	2	35	43
Exemption/variation from Guidelines⁽¹⁾	3	5	1
Other applications⁽²⁾	17	16	20
Total	37	93	78

Note:

⁽¹⁾ Excludes applications submitted together with the establishment of new schemes.
⁽²⁾ Includes applications for extension of time, change of trustee, registration of new trustee and change of fund name.

C. Licensing

Table 10 Status of licensing applications

New licence application	Received	Withdrawn	Returned	Considered	Approved	Pending
Representative	294	3	14	277	190	87
Corporation	8	1	0	7	0	7
Individual	0	0	0	0	0	0
Total	302	4	14	284	190	94

Table 11: Processing turnaround time for licensing applications

New licence application
	Within time charter		Exceeds time charter		Subtotal	Exception		Total approved
	Total	%	Total	%	Subtotal	Total	%	Total approved
Representative	190	100	0	0	190	0	0	190
Corporation	0	0	0	0	0	0	0	0
Individual	0	0	0	0	0	0	0	0
Total	190	100	0	0	190	0	0	190

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.