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Less: Applications Withdrawn/Returned during Q3 2010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Table 2: Substantive Applications Considered/Withdrawn/Returned in Q3 2010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Withdrawn/Returned(1) Total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(1)  The main reasons for the withdrawn/returned applications were, amongst others, poor standards of submissions, such as non-compliance to Equity Guidelines, and the applicant’s decision to re-look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Withdrawn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

Total

%

Total

%

Total

%

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

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

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

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

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

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

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

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

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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