SC Scorecard Q2 2010 & Statistics of Submissions Approved by the SC in Q2 2010
A. Corporate Submissions to the SC – Q2 2010 
Table 1: Status of Substantive Applications as at 30 June 2010

Applications   

Total

Balance brought forward from Q1 2010

18

Add: Applications received during Q2 2010

26

Add: Applications deferred and resubmitted during Q2 2010

Total applications

44

Less: Applications Considered during Q2 2010

(24)

Less: Applications Withdrawn/Returned during Q2 2010

(3)

Balance carried forward to Q3 2010

17

Table 2: Substantive Applications Considered/Withdrawn/Returned in Q2 2010

Type of Applications

Considered

Withdrawn Total

Approved

Rejected(1)

Returned(2)

Initial Public Offering

  • Main Market

3

2

5

Reverse Take-Overs and Restructurings

2

1

3

Transfer to Main Market

1

1

Private Debt Securities

15

15

Others

3

3

TOTAL

22

2

3

27

(1)  For the rejection cases, grounds for rejection were clearly communicated to the applicants and principal advisers through formal decision letters followed by post-decision meetings with the SC. The main grounds for rejection of the two RTO proposals were their non-compliance with the SC’s Equity Guidelines. 
(2) The main reasons for the withdrawn/returned applications were, amongst others, poor standards of submissions and the applicants’ decision to re-look at their entire application.
Table 3: Processing Turnaround Time for Substantive Applications Considered in Q2 2010

Substantive Applications

Within Time Charter(1)

Exceed Time Charter

Total

No.

%

No.

%

No. %

23

96

1

4

24

100

(1) The SC time charter for processing, computed from the date of receipt of complete applications to the date of issue of a decision letter, is as follows:
  • 52 working days for applications involving initial public offerings (IPOs) and acquisitions of assets resulting in a significant change in the business direction/policy of a listed company;
  • 32 working days for applications involving large capitalisation IPOs and transfer of listing to the Main Market of Bursa Malaysia; and
  • 14 working days for applications involving private debt securities.
Table 4: Status of Licensing Applications in Q2 2010

Type of licence application

Received

Withdrawn

Returned

Considered

Approved

Rejected

Pending

Representative

New

307

7

13

287

228

0

59

Renew

1,641

0

2

1,639

1,607

0

32

Corporation

New

11

0

0

11

3

0

8

Renew

44

0

1

43

34

0

9

Individual

New

0

0

0

0

0

0

0

Renew

1

0

0

1

0

0

1

Total

2,004

7

16

1,981

1,872

0

109

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 Q2 2010

Type of licence application

Within time charter

Exceeds time charter

Subtotal

Exception

Total reported

Total

%

Total

%

Total

%

Representative

New

226

99.12

2

0.88

228

0

0.00

228

Renewal

1,605

99.88

2

0.12

1,607

0

0.00

1,607

Corporation

New

3

100

0

0.00

3

0

0.00

3

Renewal

33

100

0

0.00

33

1

2.94

34

Individual

New

0

0.00

0

0.00

0

0

0.00

0

Renewal

0

0.00

0

0.00

0

0

0.00

0

Total

1,867

99.79

4

0.21

1,871

1

0.05

1,872

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 – Q2 2010
i) Corporate Proposals
Table 6: Number of Corporate Proposals Approved

Type of Proposals

No. of Corporate Proposals Approved

Q2 2010

Q1 2010

Q2 2009

Initial Public Offering

  • Main Market

3

10

7

Reverse Take-Overs and Restructurings

2

Transfer to Main Market

1

1

Private Debt Securities

151

82

153

Others

3

184

TOTAL

22

19

42

Note: 
(1) 15 proposals comprising twelve RM-denominated PDS and three foreign currency-denominated PDS (Table 7 and 8). 
(2) Eight proposals comprising seven RM-denominated PDS and one foreign currency-denominated PDS (Table 7 and 8). 
(3)15 proposals comprising thirteen RM-denominated PDS and two foreign currency-denominated PDS (Table 7, 8 and 9).
(4) Other proposals include equity capital-raising, disposal and proposals by unlisted companies.

ii) Private Debt Securities
Table 7: Approved RM-Denominated PDS Issues


Type

Q2 2010

Q1 2010

Q2 2009

No. of proposals

Size
(RM mil)

No. of proposals

Size
(RM mil)

No. of proposals

Size
(RM mil)

Conventional PDS

5

3,640.00

5(1)

8,586.00

8(2)

12,035.00

Sukuk

7

6,873.00

2

590.00

5

5,855.00

Combination(3)

Total

12

10,513.00

7

9,176.00

13

17,890.00

(1)  Includes two asset-backed securities (ABS) amounting RM1.4 billion.
(2)  Includes one ABS amounting to RM1.25 billion and one multi-currency PDS by a multilateral development bank amounting to RM1.0 billion.
(3) Combination of conventional and sukuk.
Table 8: Approved Foreign Currency-Denominated PDS Issues by Foreign Corporations

Type

Q2 2010

Q1 2010

Q2 2009

No. of proposals

Size of offers (USD ‘mil)

No. of proposals

Size of offers (USD ‘mil)

No. of proposals

Size of offers (USD ‘mil)

Conventional

11

500.00

Sukuk

21

100.002

11

450.00

11

750.00

Combination

Total

3

600.00

1

450.00

1

750.00

Note: 
(1) Offers in Malaysia were part of global offering.
(2) Includes one which has yet to finalise the offer size at the point of approval.

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


Type

Q2 2010

Q1 2010

Q2 2009

No. of issues

Size
(USD’mil)

No. of issues

Size
(USD’mil)

No. of issues

Size
(USD’mil)

Conventional

1

10.00

Sukuk

Combination

Total

1

10.00

10: Approved Program Issuance of Structured Products

Type

Q2 2010

Q1 2010

Q2 2009

No. of proposals

Size of offers (‘mil)

No. of proposals

Size of offers (‘mil)

No. of proposals

Size of offers (‘mil)

Conventional

3

15,000.00

5

25,000.00

2

10,000.00

Sukuk

1

500.00

Total

4

15,500.00

5

25,000.00

2

10,000.00

iii) Take-overs & Mergers
Table: 11: Number of Approved Submissions Relating to the Malaysian Code on Take-overs and Mergers

Type

Number of Submissions Approved

Q2 2010

Q1 2010

Q2 2009

Clearance of offer document

5

5

4

Application for exemption from mandatory offer obligation

10

10

15

Others

32

19

23

Total

47

34

42

iv) Unit Trusts & Collective Investment Schemes

Table: 12: Number of Submissions Relating to Unit Trusts and Other Collective Investment Schemes Approved

Type

Number of Submissions Approved

Q2 2010

Q1 2010

Q2 2009

Establishment of new funds

20

24

21

Increase in fund size

15

16

9

Exemption/variation from Guidelines(1)

6

4

1

Other applications(2)

14

14

27

Total

55

58

58

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

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

Total

%

Total

%

Total

%

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.
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