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Less: Applications Withdrawn/Returned during Q2 2010	(3)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Table 2: Substantive Applications Considered/Withdrawn/Returned in Q2 2010

Type of Applications	Considered			Withdrawn	Total
Type of Applications	Approved	Rejected⁽¹⁾	Returned⁽²⁾	Withdrawn	Total
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⁽²⁾ The main reasons for the withdrawn/returned applications were, amongst others, poor standards of submissions and the applicants’ decision to re-look at their entire application.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Type of licence application	Received	Withdrawn	Returned	Considered	Approved	Rejected	Pending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
Type of licence application	Total	%	Total	%	Subtotal	Total	%	Total reported
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
Type of Proposals	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
Type	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
Type	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
Type	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
Type	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
Type	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
Type	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
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.