SC Scorecard Q1 2014 & Statistics of Submissions Approved by the SC in Q1 2014

A. Corporate Submissions to the SC – Q1 2014

Table 1: Status of Substantive Applications as at 31 March 2014

Applications	Total
Balance brought forward from Q4 2013	13
Add: Applications received in Q1 2014	36
Total applications	49
Less: Applications Considered in Q1 2014	(21)
Less: Applications Withdrawn in Q1 2014	(3)
Balance carried forward to Q2 2014	25

Table 2: Substantive Applications Considered/Withdrawn in Q1 2014

Type of Applications	Considered			Withdrawn	Total
Type of Applications	Approved	Not Approved	Returned	Withdrawn	Total
Initial Public Offering Main Market	5	–	1	–	6
Acquisition/Reverse Take-Overs and Restructurings	–	–	–	–	–
Transfer from ACE Market to Main Market	1	–	–	–	1
Private Debt Securities	14	–	–	3	17
Others	–	–	–	–	–
TOTAL	20	–	1	3	24

Table 3: Processing Turnaround Time for Substantive Applications Considered in Q1 2014

Total Substantive Applications Considered	Within Time Charter⁽¹⁾		Exceed Time Charter⁽²⁾
Total Substantive Applications Considered	No.	%	No.	%
21	20	95	1	5

(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 2014

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

Type of Applications	No. of Applications Approved/Lodged
Type of Applications	Q1 2014	Q4 2013	Q1 2013
Initial Public Offerings Main Market	5	–	3
Acquisition, Reverse Take-Overs and Back-Door Listings	–	1	1
Transfers from ACE Market to Main Market	1	–	1
PDS and Sukuk	14	37	22
Others	–	–	1
TOTAL	20	38	28

ii) Private Debt Securities (PDS) and Sukuk

Table 5: Approved and Lodged Ringgit-denominated Issues

Type	Q1 2014		Q4 2013		Q1 2013
Type	No. of issues	Size (RM mil)	No. of issues	Size (RM mil)	No. of issues	Size (RM mil)
Conventional PDS	7⁽¹⁾	6,322.08	14	13,683.49	8	5,148.00
Sukuk	7	21,075.00	18	64,995.00	10	7,410.00
Combination⁽²⁾	–	–	2	500.00	–	–
Total	14	27,397.08	34	79,178.49	18	12,558.00

Note:

⁽¹⁾Include 1 multi-currency issue amounting to RM5.0 billion.
⁽²⁾ Combination of sukuk and conventional notes.

Table 6: Authorised foreign currency-denominated issues by foreign corporations

Type	Q1 2014		Q4 2013		Q1 2013
Type	No. of issues	Size (RM mil)	No. of issues	Size (RM mil)	No. of issues	Size (RM mil)
Conventional PDS	–	–	–	–	–	–
Sukuk			3⁽¹⁾	USD10.1 billion	3⁽²⁾	USD106.5 million
Combination	–	–	–	–	–	–
Total	–	–	3	USD10.1 billion	3	USD106.5 million

Note:

⁽¹⁾Comprise 1 multi-currency issue amounting to USD10.0 billion, 1 global offering amounting to USD70.0 million and 1 global offering which has yet to finalise the offer size at the point of authorisation.

⁽²⁾Comprise 2 global offerings amounting to USD106.5 million and 1 global offering which has 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 2014		Q4 2013		Q1 2013
Type	No. of issues	Size (RM mil)	No. of issues	Size (RM mil)	No. of issues	Size (RM mil)
Conventional PDS	–	–	–	–	–	–
Sukuk	–	–	–	–	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 2014	Q4 2013	Q1 2013
Clearance of offer document⁽¹⁾	6	12	8
Clearance of independent advice circular	12	14	13
Exemption from mandatory offer obligation	7	9	5
Others⁽²⁾	14	9	6
Total	39	44	32

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 2014	Q4 2013	Q1 2013
Establishment of new collective investment schemes	27	19	15
Establishment of new private retirement funds	0	5	0
Increase in fund size	2	0	2
Exemption/variation from Guidelines⁽¹⁾	4	6	3
Other applications⁽²⁾	13	25	17
Total	46	55	37

Note:

⁽¹⁾ Excludes applications submitted together with the establishment of new schemes.
⁽²⁾ For example, applications for variation to proposal, extension of time, change of trustee, change of management company and in relation to online activities.

C. Licensing

Table 10 Status of licensing applications

New licence application	Received	Withdrawn	Returned	Considered	Approved	Rejected	Pending
Representative	317	9	17	291	238	–	53
Corporation	3	–	–	3	1	–	2
Individual	–	–	–	–	–	–	–
Total	320	9	17	294	239	–	55

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	238	100	–	–	238	–	–	238
Corporation	1	100	–	–	1	–	–	1
Individual	–	–	–	–	–	–	–	–
Total	239	100	–	–	239	–	–	239

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.