CAPITAL MARKET STATISTICS
SC Scorecard Q1 2010
&
Statistics of Submissions Approved by SC in Q1 2010



A. Corporate Submissions to the SC – Q1 2010


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



























Total

Balance brought forward from Q4 2009

24

Add: Applications received during Q1 2010

15

Add: Applications deferred and resubmitted during Q1 2010

Total applications

39

Less: Applications Considered during Q1 2010

(20)

Less: Applications Withdrawn/Returned during Q1 2010

(1)

Balance carried forward to Q2 2010

18



Table 2: Substantive Applications Considered/Withdrawn/Returned in Q1 2010














































Type of proposals


Approved


Rejected1


Deferred


Withdrawn/
Returned2


Total

Initial public offering on the Main Market of Bursa Malaysia

 


10

 


1

 


 


1

 


12

Reverse Take-Overs and Restructurings

Transfer to Main Market

1

1

Private debt securities

8

8

TOTAL

19

1

1

21










1


For rejected cases, the grounds for rejection are clearly communicated to the applicant and the principal adviser through formal decision letters followed by post-decision meetings with the SC.  The IPO proposal above was rejected as the SC was concerned about the applicant’s corporate governance standards. 

2

The principal adviser withdrew the application as it wanted to make further improvements in the submission.



Table 3: Processing Turnaround Time for Substantive Applications Considered in Q1 2010























Substantive Applications


Within Time Charter1


Exceeds Time Charter


Total


No.


%


No.


%


No.


%


19


95


1


5


20


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



  • Deemed approval and 14 working days for applications involving private debt securities.




Table 4: Status of Licensing Applications in Q1 2010







































































































Type of licence application


Received


Withdrawn


Returned


Considered


Approved


Rejected


Pending


Representative


 


 


 


 


 


 



New


281


4


19


258


184


0


74


Renewal


1,293


0


6


1,287


1,256


0


31


Corporation



 


 


 


 


 



New


14


0


0


14


6


0


8


Renewal


39


0


2


37


25


0


12


Individual


 


 


 


 


 


 


 


New


1


0


1


0


0


0


0


Renewal


2


0


0


2


2


0


0


Total


1,630


4


28


1,598


1,473


0


125



Table 5: Processing Turnaround Time for Licensing Applications in Q1 2010






















































































































Type of licence application


Within time charter


Exceeds time charter


Subtotal


Exception


Total Reported


Total


%


Total


%


Total


%


Representative


 


 


 


 


 


 


 


 


New


181


98.37


3


1.63


184


0


0


184


Renewal


1,248


99.36


8


0.64


1,256


0


0


1,256


Corporation


New


6


100


0


0


6


0


0


6


Renewal


20


95.24


1


4.76


21


4


16


25


Individual


New


0


0


0


0


0


0


0


0


Renewal


2


0


0


0


2


0


0


2


Total


1,457


99.18


12


0.82


1,469


4


0.27


1,473


 


B. Statistics of Applications Approved by the SC – Q1 2010


i) Corporate Proposals


Table 6: Number of Corporate Proposals Approved









































Type of Proposals


No. of Corporate Proposals Approved


Q1 2010


Q4 2009


Q1 2009

Initial public offering


– Main Market


10


2


1

Reverse Take-Overs and Restructurings



1


4

Transfer to Main Market


1


2


1

Private debt securities


81


62


9

Others




9

TOTAL


19


11


24










1


8 proposals comprising 7 RM-denominated PDS issues and 1 foreign currency-denominated PDS issue (Table 7 & 8).

2

6 proposals comprising 5 RM-denominated PDS issues and 1 foreign currency-denominated PDS issue (Table 7 & 8).



ii) Private Debt Securities


Table 7: Approved RM-denominated PDS Issues
















































Type


Q1 2010


Q4 2009


Q1 2009


No. of issuers


Size of issues
(RM’mil)


No. of issuers


Size of issues
(RM’mil)


No. of issuers


Size of issues
(RM’mil)

Conventional

51

8,586.00

4

1,964.68

52

6,999.10

Sukuk

2

590.00

1

20,000.00

43

3,600.00

Combination4

Total

7

9,176.00

5

21,964.68

9

10,599.10
















1


Includes two ABS amounting RM1.4 billion.

2

Includes one multi-currency debt programme which has a combined limit of RM5.0 billion (or its equivalent in foreign currency) with a multi-currency sukuk programme approved in Q2 2009.

3

Includes one ABS amounting RM2.0 billion.

4

Combination of conventional and sukuk.



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
















































Type


Q1 2010


Q4 2009


Q1 2009


No. of offers


Size of offers
(‘mil)


No. of offers


Size of offers
(‘mil)


No. of offers


Size of offers
(‘mil)


Conventional








Sukuk


11


USD450.00


11


USD750.00




Combination








Total


1


USD450.00


1


USD750.00




1 Offer in Malaysia was part of global offering.


 


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
















































Type


Q1 2010


Q4 2009


Q1 2009


No. of offers


Size of offers
(‘mil)


No. of offers


Size of offers
(‘mil)


No. of offers


Size of offers
(‘mil)


Conventional


Sukuk


Combination








Total


 


Table 10: Approved Program Issuance of Structured Products






















































Type


Q1 2010


Q4 2009


Q1 2009


No. of issuers


Size of issues
(‘mil)


No. of issuers


Size of issues
(‘mil)


No. of issuers


Size of issues
(‘mil)


Conventional


5


RM25,000.00


6


RM30,000.00

1

SGD1,000.00

2

RM10,000.00

Sukuk



1

RM5,000.00


Combination








Total


5


RM25,000.00


7


RM35,000.00

1

SGD1,000.00

2

RM10,000.00



iii) Take-overs & Mergers


Table 11: Number of Approved Submissions Relating to the Malaysian Code on Take-overs
and Mergers































Type


Number of Submissions Approved

Q1 2010

Q4 2009

Q1 2009

Clearance of offer document

1

4 *

4

Applications for exemption from mandatory offer obligations

7

16

15

Others

9

33

23

Total

17

53

42







*


Including clearance of the revised offer document for the voluntary offer for The New Straits Times Press (Malaysia) Berhad.



iv) Unit Trusts & Collective Investment Schemes


Table: 12: Number of Submissions Relating to Unit Trusts and Other Collective Investment Schemes Approved




































Type


Number of Submissions Approved

Q1
2010

Q4
2009

Q1
2009

Establishment of new funds

24

30

15

Increase in fund size

16

11

8

Exemption/variation from Guidelines 1

4

1

0

Other applications 2

13

12

17

Total

57

54

40


1 Excluding applications submitted through the establishment of new schemes.
2 Including applications for extension of time and change of management company.