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Less: Applications Withdrawn/Returned during Q4 2010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Table 2: Substantive Applications Considered/Withdrawn/Returned in Q4 2010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Withdrawn/Returned(1) Total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(1)  The main reasons for the withdrawn/returned applications were, amongst others, poor standards of submissions, such as non-compliance to Equity Guidelines, and the applicant’s decision to re-look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Withdrawn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

Total

%

Total

%

Total

%

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

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

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

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

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

Type

Number of Submissions Approved

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

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

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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