SC Scorecard Q1 2015 & Statistics of Submissions Approved by the SC in Q1 2015

A. Corporate Submissions to the SC – Q1 2015

Table 1: Status of Substantive Applications as at 31 March 2015

Applications	Total
Balance brought forward from Q4 2014	26
Add: Applications received in Q1 2015	14
Total applications	40
Less: Applications Considered in Q1 2015	(20)
Less: Applications Withdrawn in Q1 2015	(4)
Balance carried forward to Q2 2015	16

Table 2: Substantive Applications Considered/Withdrawn in Q1 2015

Type of Applications	Considered			Withdrawn	Total
Type of Applications	Approved	Not Approved	Returned	Withdrawn	Total
Initial Public Offering Main Market	3	2	–	1	6
Reverse Take-Overs and Back-Door Listings	–	–	1	1	2
Transfer from ACE Market to Main Market	1	–	–	1	2
Private Debt Securities	13	–	–	1	14
TOTAL	17	2	1	4	24

Table 3: Processing Turnaround Time for Substantive Applications Considered in Q1 2015

Total Substantive Applications Considered	Within Time Charter*		Exceed Time Charter
Total Substantive Applications Considered	No.	%	No.	%
20	20	100	–	–

Note:

*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.

B. Corporate Applications Approved by the SC – Q1 2015

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

Type of Applications	No. of Applications Approved/Lodged
Type of Applications	Q1 2015	Q4 2014	Q1 2014
Initial Public Offerings Main Market	3	2	5
Acquisition, Reverse Take-Overs and Back-Door Listings	–	2	–
Transfers from ACE Market to Main Market	1	2	1
PDS and Sukuk	13	30	14
TOTAL	17	36	20

ii) Private Debt Securities (PDS) and Sukuk

Table 5: Approved and Lodged Ringgit-denominated Issues

Type	Q1 2015		Q4 2014		Q1 2014
Type	No. of issues	Size (RM mil)	No. of issues	Size (RM mil)	No. of issues	Size (RM mil)
Conventional bonds	4	5,500.00	12⁽¹⁾	4,809.71	7⁽²⁾	6,322.08
Sukuk	4	6,300.00	12	24,870.00	7	21,075.00
Combination⁽³⁾	–	–	2	20,000.00	–	–
Total	8	11,800.00	26	49,679.71	14	27,397.08

Note:

⁽¹⁾ Include 1 multi-currency issue amounting to RM1.0 billion.
⁽²⁾ Include 1 multi-currency issue amounting to RM5.0 billion.
⁽³⁾ Combination of sukuk and conventional notes.

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

Type	Q1 2015		Q4 2014		Q1 2014
Type	No. of issues	Size (US$ mil)	No. of issues	Size (US$ mil)	No. of issues	Size (US$ mil)
Conventional PDS	–	–	–	–	–	–
Sukuk	1^(1,2)	USD15.0 billion	3⁽³⁾	USD125.5 million	–	–
	3^(2,3)	USD2.2 billion	3⁽³⁾	USD125.5 million	–	–
Combination	–	–	–	–	–	–
Total	4	USD17.2 billion	3	USD125.5 million	–	–

Note:

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

²⁾Offerings in Malaysia were part of global offerings.
⁽³⁾1 issue 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 2015		Q4 2014		Q1 2014
Type	No. of issues	Size (USD mil)	No. of issues	Size (USD mil)	No. of issues	Size (USD mil)
Conventional PDS	–	–	–	–	–	–
Sukuk	1⁽¹⁾	USD750.0 million	1⁽¹⁾	USD2.5 billion	–	–
Combination	–	–	–	–	–	–
Total	1	USD750.0 million	1	USD2.5 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 2015	Q4 2014	Q1 2014
Clearance of offer document⁽¹⁾	6	5	6
Clearance of independent advice circular	8	9	12
Exemption from mandatory offer obligation	8	4	7
Others⁽²⁾	6	5	14
Total	28	23	39

Note:

⁽¹⁾ Including documents relating to schemes for control.
⁽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 2015	Q4 2014	Q1 2014
Establishment of new collective investment schemes	40	20	27
Establishment of new private retirement funds	0	2	0
Increase in fund size	0	1	2
Exemption/variation from Guidelines⁽¹⁾	5	1	4
Other applications⁽²⁾	14	20	13
Total	59	44	46

Note:

⁽¹⁾ Excludes applications submitted together with the establishment of new schemes.
⁽²⁾ Includes applications to act as adviser under OMG Guidelines, extension of time, clearance of audit scope 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.