Kuala Lumpur, 19 April 2010

SC Scorecard: Initial Public Offering approvals up in Q1

The Securities Commission Malaysia (SC) approved 10 Initial Public Offerings (IPO) in the first quarter of 2010, compared with two approvals in the fourth quarter of 2009 and one IPO approval in the first quarter of 2009.

All the 10 IPOs approved, which are for the Main Market, were submitted to the SC in late 2009. One of the 10 approved IPOs was listed in the first quarter of 2010, raising a sizeable RM703 million from the market.

In addition, the SC has registered one prospectus for listing on the ACE Market of Bursa Malaysia in the first quarter of 2010. The company has subsequently been listed in the same quarter. For listing on the ACE Market, the SC only registers the prospectus, which is in line with the new fund-raising framework implemented since 3 August 2009.

The SC also approved eight new private debt securities (PDS) in the first quarter, up from six in the preceding quarter. The total amount to be raised from the ringgit-denominated PDS approved during this quarter is RM9.18 billion, against RM21.9 billion a quarter ago.

The SC also approved two new exchange-traded funds (ETFs) in the first quarter of 2010. The ETFs will track two foreign indices, i.e. the FTSE/Xinhua China 25 Index and FTSE/ASEAN 40 Index, respectively.

The SC maintained its strong performance standards with 99.2% of licensing applications and 95% of corporate proposals processed within the time charters. A total of 1,630 applications were received for new licences and renewal of licences in the first quarter of 2010.

Capital market statistics released by the SC cover information on processing, approvals and rejections of submissions, including timing and reasons. In addition to these scorecard indicators, the quarterly statistics of submissions approved by the SC for the first quarter of 2010 were also reported.

The full series of capital market statistics released is available here.