SC Scorecard Q4 2010 & Statistics of Submissions Approved by the SC in Q4 2010

A. Corporate Submissions to the SC – Q4 2010

Table 1: Status of Substantive Applications as at 31 December 2010

Applications	Total
Balance brought forward from Q3 2010	25
Add: Applications received during Q4 2010	27
Add: Applications deferred and resubmitted during Q4 2010	–
Total applications	52
Less: Applications Considered during Q4 2010	(43)
Less: Applications Withdrawn/Returned during Q4 2010	(2)
Balance carried forward to Q4 2011	7

Table 2: Substantive Applications Considered/Withdrawn/Returned in Q4 2010

Type of Proposals	Approved	Rejected	Deferred	Withdrawn/Returned⁽¹⁾	Total
Initial public offering Main Market	9	–	1	1	11
Reverse Take-Overs and Restructurings	–	–	–	1	1
Transfer from ACE Market to Main Market	2	–	–	–	2
Private debt securities	27	–	–	–	27
Others	4	–	–	–	4
TOTAL	42	–	1	2	45

⁽¹⁾ The main reasons for the withdrawn/returned applications were, amongst others, poor standards of submissions, such as non-compliance to Equity Guidelines, and the applicant’s decision to re-look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 Q4 2010

Substantive Applications	Within Time Charter⁽¹⁾		Exceed Time Charter		Total
	No.	%	No.	%	No.	%
	41	98	1	2	42	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 Q4 2010

Type of licence application	Received	Withdrawn	Returned	Considered	Approved	Rejected	Pending
Representative
New	261	1	28	232	185	0	47
Renew	1,003	0	6	997	973	0	24
Corporation
New	11	0	0	11	3	0	8
Renew	69	0	3	66	48	0	18
Individual
New	0	0	0	0	0	0	0
Renew	1	0	0	1	1	0	0
Total	1,345	1	37	1,307	1,210	0	97

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 Q4 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	184	99.46	1	0.54	185	0	0.00	185
Renewal	971	99.90	1	0.10	972	1	0.10	973
Corporation
New	3	0.00	0	0.00	3	0	0.00	3
Renewal	46	97.87	1	2.13	47	1	2.08	48
Individual
New	0	0.00	0	0.00	0	0	0.00	0
Renewal	1	0.00	0	0.00	1	0	0.00	1
Total	1,205	99.75	3	0.25	1,208	2	0.17	1,210

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 – Q4 2010
i) Corporate Proposals
Table 6: Number of Corporate Proposals Approved

Type of Proposals	No. of Corporate Proposals Approved
Type of Proposals	Q4 2010	Q3 2010	Q4 2009
Initial Public Offering Main Market	9	5	2
Reverse Take-Overs and Restructurings	–	–	1
Transfer to Main Market	2	1	2
Private Debt Securities	27⁽¹⁾	11⁽³⁾	6⁽⁴⁾
Others	4⁽²⁾	1	–
TOTAL	42	18	11

Note:

⁽¹⁾ 27 proposals comprising 23 RM-denominated PDS and 4 foreign currency-denominated PDS.

⁽²⁾ 4 proposals comprising 3 offering of shares proposals and 1 cross listing proposal.
⁽³⁾11 proposals comprising 10 RM-denominated PDS and 1 foreign currency-denominated PDS.
⁽⁴⁾ 6 proposals comprising 5 RM-denominated PDS issues and 1 foreign currency-denominated PDS.

ii) Private Debt Securities

Table 7: Approved RM-Denominated PDS

Type	Q4 2010		Q3 2010		Q4 2009
Type	No. of proposals	Size (RM’mil)	No. of proposals	Size (RM’mil)	No. of proposals	Size (RM’mil)
Conventional PDS	15⁽¹⁾	7,134.97	6	3,894.27	4	1,964.68
Sukuk	8	20,565.00	3	10,300.00	1	20,000.00
Combination⁽²⁾	–	–	1	2,000.00	–	–
Total	23	27,699.97	10	16,194.27	5	21,964.68

⁽¹⁾ Include 1 asset-backed securities (ABS) amounting RM400.0 million.
⁽²⁾ Combination of conventional and sukuk.

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

Type	Q4 2010		Q3 2010		Q4 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⁾	176.89	–	–	–	–
Sukuk	3⁽¹⁾	750.00⁽²⁾	1	3,500.00	1⁽¹⁾	750.00
Combination	–	–	–	–	–	–
Total	4	926.89	1	3,500.00	1⁽¹⁾	750.00

Note:

⁽¹⁾ Offers in Malaysia were part of global offering.
⁽²⁾ 2 proposals had yet to finalise the offer size at the point of approval.

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

Type	Q4 2010		Q3 2010		Q4 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: 10: Number of Approved Submissions Relating to the Malaysian Code on Take-overs and Mergers

Type	Number of Submissions Approved
Type	Q4 2010	Q3 2010	Q4 2009
Clearance of offer document	11	6	4
Application for exemption from mandatory offer obligation	6	11	16
Others	29	36	33
Total	46	53	53

iv) Unit Trusts & Collective Investment Schemes

Table: 11: Number of Submissions Relating to Unit Trusts and Other Collective Investment Schemes Approved

Type	Number of Submissions Approved
Type	Q4 2010	Q3 2010	Q4 2009
Establishment of new funds	17	28	30
Increase in fund size	9	8	11
Exemption/variation from Guidelines⁽¹⁾	1	4	1
Other applications⁽²⁾	10	16	12
Total	37	56	54

Note:

⁽¹⁾ Excluding applications submitted through the establishment of new schemes.
⁽²⁾ Including, amongst others, applications for extension of time, change of fund name and application to act as E-Host and provide online activities.

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.