SC Scorecard Q4 2012 & Statistics of Submissions Approved by the SC in Q4 2012

A. Corporate Applications to the SC – Q4 2012

Table 1: Status of Substantive Applications as at 31 December 2012

Applications	Total
Balance brought forward from Q3 2012	22
Add: Applications received in Q4 2012	46
Total applications	68
Less: Applications Considered in Q4 2012	(40)
Less: Applications Withdrawn in Q4 2012	(2)
Balance carried forward to Q1 2013	26

Table 2: Substantive Applications Considered/Withdrawn in Q4 2012

Type of Applications	Considered			Withdrawn	Total
Type of Applications	Approved	Not Approved	Returned	Withdrawn	Total
Initial Public Offering Main Market	6	–	1	1	8
Transfer from ACE Market to Main Market	1	–	–	–	1
Private Debt Securities	26	–	–	–	26
Others	6	–	–	1	7
TOTAL	39	–	1	2	42

Table 3: Processing Turnaround Time for Substantive Applications Considered in Q4 2012

Substantive Applications	Within Time Charter¹		Exceed Time Charter²		Total
	No.	%	No.	%	No.	%
	36	90	4	10	40	100

Note:

(1) The SC time charter for processing is computed from the date of receipt of complete information on the application up to the date of the decision letter, and this is applicable to the following proposals:

Initial public offerings (IPOs) and acquisition 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 and 14 working days.

(2) Main reasons for exceeding time charter include incomplete application from the applicant and/or SC’s request for further clarification on certain pertinent issues.

B. Corporate Applications Approved by the SC – Q4 2012

i) Applications Approved

Table 4: Number of Applications Approved

Type of Applications	No. of Applications Approved/Lodged
Type of Applications	Q4 2012	Q3 2012	Q4 2011
Initial Public Offerings Main Market	6	2	2
Acquisition, Reverse Take Overs and Back-Door Listings	1	–	3
Transfers from ACE Market to Main Market	–	1	1
Secondary listing	26⁽¹⁾	32⁽²⁾	36⁽³⁾
Corporate bonds and sukuk	6	3	4
TOTAL	39	38	46

Note:

26 Ringgit-denominated issues of conventional PDS and sukuk (Tables 5).
25 Ringgit-denominated issues and 7 foreign currency-denominated issues of conventional PDS and sukuk (Tables 5, 6 & 7).
28 Ringgit-denominated issues and 8 foreign currency-denominated issues of conventional PDS and sukuk (Tables 5, 6 & 7).

ii) Private Debt Securities (PDS)

Table 5: Approved Ringgit-Denominated issues

Type of Applications	Q4 2012		Q3 2012		Q4 2011
Type of Applications	No. of issues	Size (RM mil)	No. of issues	No. of issues	No. of issues	Size (RM mil)
Conventional PDS	9	2,216.15	11	7,324.62	13	6,544.79
Sukuk	17	21,518.38	14⁽¹⁾	27,298.00	15	41,698.10
Combination⁽²⁾	–	–	–	–	–	–
Total	26	23,734.53	25	34,622.62	28	48,242.89

Note:

⁽¹⁾ Combination of sukuk and conventional notes.

Table 6: Approved and lodged foreign currency-denominated issues by foreign corporations

Type of Applications	Q4 2012		Q3 2012		Q4 2011
Type of Applications	No. of issues	Size (USD mil)	No. of issues	Size (USD mil)	No. of issues	Size (USD mil)
Conventional bonds	–	–	–	–	1	IDR1.5 trillion
Sukuk	–	–	6⁽¹⁾	USD12.7 billion	7⁽²⁾	USD1.48 billion
Combination	–	–	–	–		–
Total	–	–	6	USD12.7 billion	1	IDR1.5 trillion
Total	–	–	6	USD12.7 billion	7	USD1.48 billion

Note:

⁽¹⁾ Include 5 global offerings wherein 2 issues have yet to finalise the offer size at the point of approval.
⁽²⁾ 7 global offerings wherein 3 issues have yet to finalise the offer size at the point of approval.

Table 7: Approved and lodged foreign currency-denominated issues by Malaysian issuers

Type of Applications	Q4 2012		Q3 2012		Q4 2011
Type of Applications	No. of issues	Size (USD mil)	No. of issues	Size (USD mil)	No. of issues	Size (USD mil)
Conventional bonds	–	–	–	–	–	–
Sukuk	–	–	1⁽¹⁾	USD1.5 billion	–	–
Combination	–	–	–	–	–	–
Total	–	–	1	USD1.5 billion	–	–

Note:

⁽¹⁾ Multi-currency issues.

iii) Take-Overs & Mergers

Table 8: Number of Applications Considered under the Malaysian Code on Take-overs and Mergers 2010

Type	Number of Submissions Considered
Type	Q4 2012	Q3 2012	Q4 2011⁽²⁾
Clearance of offer document ⁽¹⁾	6	14	4
Exemption from mandatory offer obligation	10	14	7
Clearance of independent advice circular	9	2	6
Others⁽³⁾	11	15	12
Total	36	45	29

Note:

⁽¹⁾ Including documents relating to scheme for control under the Companies Act 1965.

⁽²⁾ One selective capital repayment case in Q4 2011 has been reclassified to conform to the current quarter’s presentation.
⁽³⁾ Including rulings, ancillary applications and other related decisions.

iv) Unit Trusts, Collective Investment Schemes & Private Retirement Schemes

Table 9: Number of Applications Approved Relating to Unit Trusts, Other Collective Investment Schemes and Private Retirement Schemes

Type	Number of Applications Approved
Type	Q4 2012	Q3 2012	Q4 2011
Establishment of new funds	29	19	33
Establishment of retirement funds	8	24	–
Increase in fund size	35	35	17
Exemption/variation from Guidelines⁽¹⁾	5	8	1
Other applications ⁽²⁾	16	5	9
Total	93	91	60

Note:

⁽¹⁾ Excludes applications submitted through the establishment of new schemes.
⁽²⁾ Including applications for change of trustee, change of fund name, extension of time and renewal of trustee’s registration.

v) Applications for Licences

Table 10: Status of Licensing Applications as at 1 July – 31 December 2012

New licence application	Received	Withdrawn	Returned	Considered	Approved	Pending
Representative	360	2	24	334	294	40
Corporation	6	0	0	6	3	3
Individual	0	0	0	0	0	0
Total	366	2	24	340	297	43

Table 11: Processing Turnaround Time for Licensing Applications, 1 September – 31 December 2012

New licence application	Within time charter		Exceeds time charter		Subtotal	Exception		Total approved
New licence application	Total	%	Total	%	Subtotal	Total	%	Total approved
Representative	360	2	24	334	294	0	0	40
Corporation	6	0	0	6	3	0	0	3
Individual	0	0	0	0	0	0	0	0
Total	366	2	24	340	297	0	0	43