SC Scorecard Q3 2023 & Statistics of Submissions Approved by the SC in Q3 2023

A. Corporate Submissions to the SC – Q3 2023

Table 1: Status of Substantive Applications as at 30 September 2023

Applications	Equities	Corporate Bonds and Sukuk	Total
Balance brought forward from Q2 2023	8	1	9
Add: Applications received in Q3 2023	5	28	33
Total applications	13	10	23
Less: Applications considered/lodged in Q3 2023	(4)	(28)	(32)
Less: Applications withdrawn in Q3 2023	-	-	-
Balance carried forward to Q4 2023	9	1	10

Table 2: Substantive Applications Considered/Withdrawn/Lodged in Q3 2023

Type of Applications	Considered			Withdrawn	Lodged	Total
Type of Applications	Approved	Not Approved	Returned	Withdrawn	Lodged	Total
IPO – Main Market	2	-	-	-	-	2
Acquisition, reverse take-overs and back- door listings	-	-	-	-	-	-
Transfer from ACE Market to Main Market	2	-	-	-	-	2
Corporate bonds and sukuk	1	-	-	-	27	28
TOTAL	5	-	-	-	27	32

Table 3: Processing Turnaround Time for Substantive Applications Considered in Q3 2023

Total Substantive Applications Considered	Approved	Lapsed	Rejected	Processing Time	Time Charter
4	4	-	-	3-4 months	Within	Exceed
4	4	-	-	3-4 months	100%	-

* Based on number of queries issued.
Time charter for substantive application:

first round of query raised within 10 MDs from receipt of complete submission; and
subsequent queries raised within 5 MDs from receipt of complete replies.

B. Corporate Applications Approved by the SC – Q3 2023
i) Applications Approved/Lodged
Table 4: Number of Applications Approved/Lodged

Type of Applications	No. of Applications Approved/Lodged
Type of Applications	Q3 2023	Q2 2023	Q3 2022
Initial Public Offerings - Main Market	2	2	1
Acquisition, Reverse Take-Overs and Back-Door Listings	-	-	1
Transfers from ACE Market to Main Market	2	3	2
Corporate bonds and sukuk	28	9	17
TOTAL	32	14	21

ii) Corporate Bonds and Sukuk
Table 5: Approved and Lodged Ringgit-Denominated Issues

Type of Applications	Q3 2023		Q2 2023		Q3 2022
Type of Applications	No. of issues	Size (RM mil)	No. of issues	Size (RM mil)	No. of issues	Size (RM mil)
Conventional bonds	10	47,462.88	1	10,000.00	4	7,050.00
Sukuk	17	48,288.00	6	3,100.00	13	14,770.00
Combination⁽¹⁾	-	-	-	-	-	-
Total	27	95,750.88	7	13,100.00	17	21,820.00

Note:

⁽¹⁾ Combination of sukuk and conventional bonds.

Table 6: Approved and Lodged Foreign Currency-Denominated Issues by Foreign Corporations

Type of Applications	Q3 2023		Q2 2023		Q3 2022
Type of Applications	No. of issues	Size (US$ mil)	No. of issues	Size (US$ mil)	No. of issues	Size (US$ mil)
Conventional bonds	-	-	1	10,000.00	-	-
Sukuk	1	35,000.00	-	-	-	-
Combination⁽¹⁾	-	-	-	-	-	-
Total	-	-	1	10,000.00	-	-

Note:

⁽¹⁾ Combination of sukuk and conventional bonds.

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

Type of Applications	Q3 2023		Q2 2023		Q3 2022
Type of Applications	No. of issues	Size (USD mil)	No. of issues	Size	No. of issues	Size
Conventional bonds	-	-	-	-	-	-
Sukuk	-	-	1	5,000.00	-	-
Combination⁽¹⁾	-	-	-	-	-	-
Total	-	-	1	5,000.00	-	-

Note:

⁽¹⁾ Combination of sukuk and conventional bonds.

iii) Take-Overs & Mergers
Table 8: Number of submissions considered in relation to take-overs, mergers, and compulsory acquisitions

Type	Number of Submissions Considered
Type	Q3 2023	Q2 2023	Q3 2022
Clearance of offer/scheme documents¹	2	2	4
Offers Schemes	2 -	1 1	3 1
Total offer/scheme value	RM0.13 billion	RM0.09 billion	RM0.63 billion
Clearance of independent advice circulars	2	4	6
Offers/schemes Whitewash exemptions	1 1	3* 1	4 2
Clearance of circulars for whitewash exemption^#	1	1	1
Applications for exemption from mandatory offer obligation	12	3	3
Whitewash exemptions Others	3 9	0 3	3 0
Other applications²	1	2	4
TOTAL APPLICATIONS CONSIDERED	18	12	18

Note:

¹ Including documents relating to schemes for control and compensation scheme documents, where applicable.

² Refers to all other applications under the CMSA, Code and Rules.

^* * One of the independent advice letters cleared by the SC in Q3 2023 relates to an offer to which the offer document was cleared in the preceding quarter.

^# Pursuant to the revised Rules on 28 December 2021, circulars for whitewash exemption must be submitted to the SC for SC’s comments and clearance on the contents relating to the whitewash exemption

iv) CIS, PRS and Foreign ASEAN CIS

Table 9: Number of Applications Approved Relating to Unit Trusts, other CIS, PRS and Foreign ASEAN CIS

Type	Number of Applications Approved
Type	Q3 2023	Q2 2023	Q3 2022
Establishment of new collective investment schemes	7	5	14
Establishment of retirement funds	1	0	12
Recognition of foreign ASEAN CIS	0	0	0
Exemption/variation from Guidelines¹	1	1	0
Other applications	82	4	6
Total	17	10	32

Note:

¹ Excludes applications submitted together with the establishment of new schemes.
² Includes applications in relation to online activities, extension of time, increase in approved fund size and qualification as a SRI fund.

C. Licensing

Table 10: Status of Licensing Applications in Q3 2023

New licence application	Brought forward from Q2 2023	Received	Withdrawn	Returned	Considered / Pending Consideration	Approved	Rejected	Pending
Representative	54	254	3	7	298	245	-	53
Corporation	9	1	0	0	10	-	-	10
TOTAL	63	255	3	7	308	245	-	63

Table 11: Processing Turnaround Time for Licensing Applications in Q3 2023

New licence application	Within time charter		Exceeds time charter		Subtotal	Exception¹	Total approved
New licence application	Total	%	Total	%	Subtotal	Total	Total approved
Representative	242	100	0	0	242	3	245
Corporation	-	-	-	-	-	-	-
TOTAL	242	100	0	0	242	3	245

Note:

¹ This refers to an application which required exception handling, where further assessment and engagement were required due to issues related to the applicant’s fit and properness.