SC Scorecard Q3 2010 & Statistics of Submissions Approved by the SC in Q3 2010

A. Corporate Submissions to the SC – Q3 2010

Table 1: Status of Substantive Applications as at 30 September 2010

Applications	Total
Balance brought forward from Q2 2010	17
Add: Applications received during Q3 2010	34
Add: Applications deferred and resubmitted during Q3 2010	–
Total applications	51
Less: Applications Considered during Q3 2010	(18)
Less: Applications Withdrawn/Returned during Q3 2010	(8)
Balance carried forward to Q3 2010	25

Table 2: Substantive Applications Considered/Withdrawn/Returned in Q3 2010

Type of Proposals	Approved	Rejected	Deferred	Withdrawn/Returned⁽¹⁾	Total
Initial public offering Main Market	5	–	–	5	10
Reverse Take-Overs and Restructurings	–	–	–	–	–
Transfer to Main Market	1	–	–	2	3
Private debt securities	11	–	–	1	12
Others	1	–	–	–	1
TOTAL	18	–	–	8	26

⁽¹⁾ The main reasons for the withdrawn/returned applications were, amongst others, poor standards of submissions, such as non-compliance to Equity Guidelines, and the applicant’s decision to re-look at their entire application.

Table 3: Processing Turnaround Time for Substantive Applications Considered in Q3 2010

Substantive Applications	Within Time Charter⁽¹⁾		Exceed Time Charter		Total
	No.	%	No.	%	No.	%
	17	94	1	6	18	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 Q3 2010

Type of licence application	Received	Withdrawn	Returned	Considered	Approved	Rejected	Pending
Representative
New	309	2	12	295	253	1	41
Renew	1,342	2	5	1,335	1,320	0	15
Corporation
New	13	0	0	13	5	0	8
Renew	79	0	3	76	66	0	10
Individual
New	0	0	0	0	0	0	0
Renew	1	0	0	1	1	0	0
Total	1,744	4	20	1,720	1,645	1	74

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 Q3 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	236	93.65	16	6.35	252	1	0.40	253
Renewal	1,317	99.85	2	0.15	1,319	1	0.08	1,320
Corporation
New	5	100	0	0	5	0	0	5
Renewal	61	95.31	3	4.69	64	2	3.03	66
Individual
New	0	0	0	0	0	0	0	0
Renewal	1	0	0	0	1	0	0	1
Total	1,620	98.72	21	1.28	1,641	4	0.24	1,645

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 – Q3 2010
i) Corporate Proposals
Table 6: Number of Corporate Proposals Approved

Type of Proposals	No. of Corporate Proposals Approved
Type of Proposals	Q3 2010	Q2 2010	Q3 2009
Initial Public Offering Main Market	5	3	2
Reverse Take-Overs and Restructurings	–	–	1
Transfer to Main Market	1	1	1
Private Debt Securities	111	152	103
Others	1	3	194
TOTAL	18	22	33

Note:

⁽¹⁾ 11 proposals comprising 10 RM-denominated PDS and 1 foreign currency-denominated PDS.

⁽²⁾ 15 proposals comprising 12 RM-denominated PDS and 3 foreign currency-denominated PDS.
⁽³⁾10 proposals comprising 7 RM-denominated PDS and 3 foreign currency-denominated PDS.
⁽⁴⁾ Other proposals include acquisition and equity capital-raising.

ii) Private Debt Securities

Table 7: Approved RM-Denominated PDS

Type	Q3 2010		Q2 2010		Q3 2009
Type	No. of proposals	Size (RM’mil)	No. of proposals	Size (RM’mil)	No. of proposals	Size (RM’mil)
Conventional PDS	6	3,894.27	5	3,640.00	6	2,532.57
Sukuk	3	10,300.00	7	6,873.00	1	4,500.00
Combination⁽¹⁾	1	2,000.00	–	–	–	–
Total	10	16,194.27	12	10,513.00	7	7,032.57

⁽¹⁾ Combination of conventional and sukuk.

Table 8: Approved Foreign Currency-Denominated PDS Issues by Foreign Corporations

Type	Q3 2010		Q2 2010		Q3 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	–	–	1⁽¹⁾	500.00	–	–
Sukuk	1	3,500.00	2⁽¹⁾	850.00	2⁽¹⁾	1,500.00
Combination	–	–	–	–	1	4,000.00
Total	1	3,500.00	3	1,350.00	3	5,500.00

Note:

⁽¹⁾ Offers in Malaysia were part of global offering.

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

Type	Q3 2010		Q2 2010		Q3 2009
Type	No. of issues	Size (USD’mil)	No. of issues	Size (USD’mil)	No. of issues	Size (USD’mil)
Conventional	–	–	–	–	–	–
Sukuk	–	–	–	–	–	–
Combination	–	–	–	–	–	–
Total	–	–	–	–	–	–

10: Approved Program Issuance of Structured Products

Type	Q3 2010		Q2 2010		Q3 2009
Type	No. of proposals	Size of offers (RM‘mil)	No. of proposals	Size of offers (RM‘mil)	No. of proposals	Size of offers (RM‘mil)
Conventional	6	30,000.00	3	15,000.00	5	25,000.00
Sukuk	–	–	1	500.00	–	–
Total	6	30,000.00	4	15,500.00	5	25,000.00

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	Q3 2010	Q2 2010	Q3 2009
Clearance of offer document	6	5	3
Application for exemption from mandatory offer obligation	11	10	14
Others	36	32	25
Total	53	47	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	Q3 2010	Q2 2010	Q3 2009
Establishment of new funds	28	20	27
Increase in fund size	8	15	8
Exemption/variation from Guidelines⁽¹⁾	4	6	5
Other applications⁽²⁾	16	14	14
Total	56	55	54

Note:

⁽¹⁾ Excluding applications submitted through the establishment of new schemes.
⁽²⁾ Including, amongst others, applications for extension of time, change of management company and change of trustee.

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.