SC Scorecard Q3 2011 & Statistics of Submissions Approved by the SC in Q3 2011

A. Corporate Submissions to the SC – Q3 2011

Table 1: Status of Substantive Applications as at 30 September 2011

Applications	Total
Balance brought forward from Q2 2011	19
Add: Applications received in Q3 2011	^{^}31
Total applications	50
Less: Applications Considered/Withdrawn in Q3 2011	(29)
Balance carried forward to Q2 2011	21

^ Includes 14 equity proposals and 17 PDS proposals

Table 2: Substantive Applications Considered/Withdrawn in Q3 2011

Type of Applications	Considered			Withdrawn	Total
Type of Applications	Approved	Rejected	Returned	Withdrawn	Total
Initial Public Offering Main Market	2	3	–	4	9
Reverse Take-Overs and Restructurings	–	1	–	–	1
Transfer to Main Market	–	1	–	1	2
Private Debt Securities	15	–	–	1	16
Others	1	–	–	–	1
TOTAL	18	5	–	6	29

Table 3: Processing Turnaround Time for Substantive Applications Considered in Q3 2011

Substantive Applications	Within Time Charter⁽¹⁾		Exceed Time Charter		Total
	No.	%	No.	%	No.	%
	23	100	–	–	23	100

(1) 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 Submissions Approved by the SC – Q3 2011
i) Proposals Approved
Table 4: Number of Corporate Proposals Approved

Type of Proposals	No. of Corporate Proposals Approved
Type of Proposals	Q3 2011	Q2 2011	Q3 2010
Initial Public Offering Main Market	2	9	5
Reverse Take-Overs and Restructurings	–	2	–
Transfer to Main Market	–	1	1
Private Debt Securities	15	26	11
Others	1	4	1
TOTAL	18	42	18

ii) Private Debt Securities

Table 5: Approved RM-Denominated PDS Issues

Type	Q3 2011		Q2 2011		Q3 2010
Type	No. of issues	Size (RM mil)	No. of issues	Size (RM mil)	No. of issues	Size (RM mil)
Conventional PDS	8	7,538.03	7	9,676.80	6	3,894.27
Sukuk	6	4,845.00	14	24,590.00	3	10,300.00
Combination⁽¹⁾	1	3,500.00	–	–	1	2,000.00
Total	15	15,883.03	21	34,266.80	10	16,194.27

⁽¹⁾ Combination of conventional and sukuk.

Table 6: Approved Foreign Currency-Denominated PDS Issues by Foreign Corporations ⁽¹⁾

Type	Q3 2011		Q2 2011		Q3 2010
Type	No. of proposals	Approved size (mil)	No. of proposals	Approved size (mil)	No. of proposals	Approved size (mil)
Conventional	–	–	1	CNY3,000.00	–	–
Sukuk	–	–	2	USD1,050.00	1	USD3,500.00
Combination⁽¹⁾	–	–	–	–	–	–
Total	–	–	1	CNY3,000.00	1	USD3,500.00
Total	–	–	2	USD1,050.00	1	USD3,500.00

Note:

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

Table 7: Approved Foreign Currency-Denominated PDS Issues by Malaysian Issuers

Type	Q3 2011		Q2 2011		Q3 2010
Type	No. of issues	Size (USD mil)	No. of issues	Size (USD mil)	No. of issues	Size (USD mil)
Conventional	–	–	2	2,500.00	–	–
Sukuk	–	–	–	–	–	–
Combination	–	–	–	–	–	–
Total	–	–	2	2,500.00	–	–

iii) Take-Overs & Mergers

Table 8: Number of Approved Submissions Relating to the Malaysian Code on Take-Overs and Mergers 2010

Type	Number of Submissions Considered
Type	Q3 2011	Q2 2011	Q3 2010
Clearance of offer document	9	2	6
Exemption from Mandatory Offer (MO) obligation	8	7	11
Clearance of Independent Advice Circular (IAC)	10	11	12
Confirmation of Appointment of Independent Adviser (IA)	14	13	13
Others*	13	8	11
Total	54	^41	53

Note:

* Includes extension of time, rulings, waiver from provisions of the Code and other ancillary applications.
^ Includes one rejection case (i.e. confirmation of the appointment of IA) which was not reported in Q2 2011 report as Q2 reporting was based on application approved. From Q3 onwards, reporting will be based on submissions considered.

iv) Unit Trusts & Collective Investment Schemes

Table 9: Number of Submissions Relating to Unit Trusts and Other Collective Investment Schemes Approved

Type	Number of Submissions Approved
Type	Q3 2011	Q2 2011	Q3 2010
Establishment of new funds	20	31	28
Increase in fund size	23	21	8
Exemption/variation from Guidelines⁽¹⁾	4	5	4
Other applications⁽²⁾	6	17	16
Total	53	74	56

Note:

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

Table 10: Status of Licensing Applications in Q3 2011

Type of licence application	Received	Withdrawn	Returned	Considered	Approved	Rejected	Pending
Representative
New	361	0	20	341	309	0	32
Renew	1,129	0	6	1,123	1,122	0	1
Corporation
New	7	0	0	7	1	0	6
Renew	66	0	0	66	63	0	3
Individual
New	0	0	0	0	0	0	0
Renew	1	0	0	1	1	0	0
Total	1,564	0	26	1,538	1,496	0	42

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 11: Processing Turnaround Time for Licensing Applications in Q3 2011

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	305	98.71	4	1.29	309	0	0	309
Renewal	1,122	100	0	0	1,122	0	0	1,122
Corporation
New	1	100	0	0	1	0	0	1
Renewal	55	88.71	7	11.29	62	1	1.59	63
Individual
New	0	0	0	0	0	0	0	0
Renewal	1	100	0	0	1	0	0	1
Total	1,484	99.26	11	0.74	1,495	1	0.07	1,496

Note:

⁽¹⁾Include 2 asset-backed securities (ABS) amounting to RM3,100.0 million.
⁽²⁾Combination of sukuk and conventional notes.

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.