CAPITAL MARKET STATISTICS


SC Scorecard Q2 2009


&


Statistics of Submissions Approved by SC in Q2 2009



A. Corporate Submissions to the SC – Q2 2009


Table 1: Status of Substantive Applications as at 30 June 2009



























 

Total


Balance brought forward from Q1 2009


21


Add: Applications received during Q2 2009


49


Add: Applications deferred and resubmitted during Q2 2009



Total applications


70


Less: Applications considered during Q2 2009


(43)


Less: Applications withdrawn/returned during Q2 2009


(3)


Balance carried forward to Q3 2009


24



Table 2: Status of IPO applications as at 30 June 2009



























 

Total


Balance brought forward from Q1 2009


7


Add: Applications received during Q2 2009


6


Add: Applications deferred and resubmitted during Q2 2009



Total applications


13


Less: Applications considered during Q2 2009


(7)


Less: Applications withdrawn/returned during Q2 2009


(1)


Balance carried forward to Q3 2009


5



Table 3: Substantive Applications Considered/Withdrawn/Returned in Q2 2009



































































Type of proposals


Approved


Rejected


Deferred


Withdrawn/


Returned


Total


Initial public offerings


–       Main Board


–       Second Board


–       MESDAQ


 


5


2



 





 





 



1



 


5


3



Mergers & Acquisitions







Restructurings


2


11




3


Equity capital-raising


10





10


Private debt securities


15





15


Structured warrants


3





3


Others 2


5




2


7


TOTAL


42


1



3


46









1

For the rejection case, grounds for rejection were clearly communicated to the applicant and principal adviser through formal decision letter followed by a post-decision meeting with the SC. The restructuring proposal was rejected on the grounds that the proposal was not sufficiently comprehensive and capable of resolving all financial problems faced by the applicant.

2   

Includes proposal for transfer to Main Board, disposal, proposal by unlisted companies etc.



Table 4:
Processing Turnaround Time for Substantive Applications Considered in Q2 2009























Substantive Applications


Within Time Charter1


Exceeds Time Charter


Total


No.


%


No.


%


No.


%


42


98


1


2


43


100






1

SC time charter is 60 working days for applications involving initial public offerings (IPOs) and acquisitions/disposals of assets resulting in a significant change in the business direction/policy of a listed company. The 21 and 14 working days are for applications involving large capitalisation IPOs and equity, and private debt securities respectively. For a stand-alone rights proposal and private placements up to 10% of the paid-up share capital, the time charter is 5 working days and 1 working day respectively. The processing time are computed from the date of receipt of complete application to date of decision letter.



Table 5: Status of Licensing Applications as at 1 April – 30 June 2009 (Q2)







































































































Type of licence application


Received


Withdrawn


Returned


Considered


Approved


Rejected


Pending


Representative









New


268


1


33


234


189


0


45


Renewal


903


0


5


898


879


0


19


Corporation









New


8


0


0


8


3


0


5


Renewal


29


1


0


28


26


0


2


Individual









New


1


0


0


1


0


0


1


Renewal


0


0


0


0


0


0


0


Total


1,209


2


38


1,169


1,097


0


72


 


Table 6: Processing Turnaround Time for Licensing Applications 1 April – 30 June 2009 (Q2)









































































Type of licence application


Within


time charter


Exceeds


time charter


Total


%


Total


%


Representative

       

New


186


98.41


3


1.59


Renewal


879


100


0


0


Corporation






New


3


100


0


0


Renewal


25


96.15


1


3.85


Individual






New


0


0


0


0


Renewal


0


0


0


0


Total


1,093 (99.63%)



4 (0.37%)




B. Statistics of Applications Approved by the SC – Q2 2009



i) Corporate Proposals


Table 7: Number of Corporate Proposals Approved



















































Type of Proposals


No. of Corporate Proposals Approved


Q2 2009


Q1 2009


Q2 2008


Initial public offering


7


1


5


Mergers & Acquisitions




2


Restructurings


2


4


6


Equity Capital-raising


10


4


8


Private debt securities


15


9


21


Structured warrants


3


2



Others


5


4


10


TOTAL


42


24


52



ii) Private Debt Securities


Table 8: Approved RM-denominated PDS Issues

















































Type


Q2 2009


Q1 2009


Q2 2008


No. of issues


Size of issues
(RM’mil)


No. of issues


Size of issues
(RM’mil)


No. of issues


Size of issues
(RM’mil)


Conventional


81


12,035.00


5


6,999.102


183


30,391.72


Sukuk


5


5,855.004


45


3,600.00


7


5,870.00


Combination6








Total


13


17,890.00


9


10,599.10


25


36,261.72






















1


Include one asset-backed securities (ABS) amounting to RM1.25 billion and one multi-currency PDS by a multilateral development bank pursuant to Practice Note 1A (PN1A), PN2 and PN2A amounting to RM1.0 billion.


2


Include 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


Include one ABS amounting to RM1 billion, one PDS by an agency of a foreign government pursuant to PN2A amounting to RM3.5 billion and two PDS by foreign multinational corporations pursuant to PN2B amounting to RM5 billion.


4


Exclude RM5.0 billion approved in Q2 2009 as the same was a combined limit which had already been approved and reported in Q1 2009 (please refer to note 2 above).


5


Include one ABS amounting RM2.0 billion.


6


Combination of Conventional and Sukuk.



Table 9:


Approved Foreign Currency-denominated PDS Issues by Foreign Corporations









































Type


Q2 2009


Q1 2009


Q2 2008


No. of offers


Size of offers
(‘mil)


No. of issues


Size of issues
(‘mil)


No. of issues


Size of issues
(‘mil)


Conventional








Sukuk


11


USD750.00






Total


1


USD750.00






1 Offer in Malaysia was part of a global offering.


 


Table 10: Approved Foreign Currency-denominated PDS Issues by Malaysian Issuers









































Type


Q2 2009


Q1 2009


Q2 2008


No. of offers


Size of offers
(‘mil)


No. of offers


Size of offers
(‘mil)


No. of issues


Size of offers
(‘mil)


Conventional


1


USD10.00






Sukuk








Total


1


USD10.00






 


Table 11: Approved Program Issuance of Structured Products















































Type


Q2 2009


Q1 2009


Q2 2008


No. of issues


Size of issues
(‘mil)


No. of issues


Size of issues
(‘mil)


No. of issues


Size of issues
(‘mil)


Conventional


2


RM10,000.00


1


SGD1,000.00


2


RM4,000.00


2


RM10,000.00


Sukuk








Total


2


RM10,000.00


1


SGD1,000.00


2


RM4,000.00


2


RM10,000.00



iii) Take-overs & Mergers


Table 12: Number of Approved Submissions Relating to the Malaysian Code on


Take-overs and Mergers






























Type

Number of Submissions Approved


Q2 2009


Q1 2009


Q2 2008


Clearance of offer document


2


4


8


Application for exemption from mandatory offer obligation


13


15


21


Others


17


23


45


Total


32


42


74



iv) Unit Trusts & Collective Investment Schemes


Table: 13: Number of Submissions Relating to Unit Trust and Other Collective Investment Schemes Approved




































Type


Number of Submissions Approved


Q2 2009


Q1 2009


Q2 2008


Establishment of new funds


21


15


31


Increase in fund size


9


9


12


Exemption/variation from Guidelines1


1


0


2


Other applications 2


27


17


26


Total


58


41


71










1


Excluding applications submitted through the establishment of new schemes.


2


Including, amongst others, applications for extension of time, change of trustee, renewal of trustee and change of fund name.