Statistics of Submissions Approved by SC for Q4 2004
The Securities Commission (SC) approved 108 corporate proposals in the fourth quarter of 2004 bringing the total number of corporate proposals approved for the year to 427 (Table 1). This represented an increase of more than 20% as compared with the total in 2003.Table 1: Number of Corporate Proposals Approved
2Including debt restructurings.
3Including bonus issues, transfers to Main Board, disposals of assets, issues of warrants and exercises by unlisted companies.
There was a significantly higher number of approvals involving capital-raising exercises in the final quarter of 2004, as compared with the previous quarter. Consequently, total approvals for capital-raising exercises for 2004 have escalated to 225, almost 70% more than the total recorded in 2003.
Private Debt Securities
The SC approved a total of 36 private debt securities (PDS) issues amounting to RM8.8 billion in the fourth quarter of 2004 (Table 2). This number includes one issue of asset-backed debt securities (ABS) worth RM500 million.
While the number of conventional PDS issues approved in 2004 had dropped by 13.8%, the number of Islamic PDS approved had increased significantly by 58.1% from the number approved in 2003. The margin of increase for 2004 in terms of size of Islamic PDS issues, at 25.8%, was not as high as compared to the increase in number of issues approved.Table 2: Number of Issues Relating to PDS Approved
2Include one ABS issue amounting to RM1.8 billion
3Include six ABS amounting RM4.7 billion
4Include seven ABS amounting RM2.6 billion
5Include one ABS amounting RM986 million
The SC approved one issue of structured products transaction amounting to RM1.8 billion in the fourth quarter of 2004, bringing the total size of structured products approved for the year to RM6.9 billion (Table 3).Table 3: Number of Transactions Relating to Structured Products Approved
Take-over and Mergers
The SC approved 37 applications under the Malaysian Code on Take-overs and Mergers (Take-over Code) in the fourth quarter of 2004, the same number as in the previous quarter (Table 4).Table 4: Number of Submissions Relating to the Take-over Code Approved
A 27% drop in the number of ancillary applications has contributed to a lower total approved submission relating to Take-over Code for the whole of 2004 compared with the number recorded in the previous year.
Unit Trusts and Other Collective Investment Schemes
The SC approved the establishment of 11 new funds in the fourth quarter (Table 5). In total, the SC approved 39 applications relating to unit trusts and other collective investment schemes in the final quarter of 2004, as compared with 42 applications in the previous quarter.
Overall, the number of applications relating to unit trusts and other collective investment schemes approved in 2004 was lower than in 2003 – 162 in 2004 as compared with 172 in 2003. The reduction was mainly attributed to less number of applications submitted, involving exemption/variation from unit trust guidelines, as compared with 2003.Table 5: Number of Submissions Relating to Unit Trust and Other Collective Investment Schemes Approved
2Including applications for extension of time, revaluation of property, change of funds name and change of shareholding structure.
27 January 2005