CAPITAL MARKET STATISTICS


SC Scorecard Q2 2010
&
Statistics of Submissions Approved by SC in Q2 2010


 


A. Corporate Submissions to the SC – Q2 2010


Table 1: Status of Substantive Applications as at 30 June 2010





























Total


Balance brought forward from Q1 2010


18


Add: Applications received during Q2 2010


26


Add: Applications deferred and resubmitted during Q2 2010



Total applications


44


Less: Applications Considered during Q2 2010


(24)


Less: Applications Withdrawn/Returned during Q2 2010


(3)


Balance carried forward to Q3 2010


17


 


Table 2: Substantive Applications Considered/Withdrawn/Returned in Q2 2010





















































Type of proposals


Approved


Rejected1


Deferred


Withdrawn/
Returned2


Total


Initial public offering



  • Main Market

 


3


 



 



 


2


 


5


Reverse Take-Overs and Restructurings



2



1


3


Transfer to Main Market


1





1


Private debt securities


15





15


Others


3





3


TOTAL


22


2



3


27










1


For the rejection cases, grounds for rejection were clearly communicated to the applicants and principal advisers through formal decision letters followed by post-decision meetings with the SC.  The main grounds for rejection of the two RTO proposals were their non-compliance with the SC’s Equity Guidelines.  

2

The main reasons for the withdrawn/returned applications were, amongst others, poor standards of submissionsand the applicants’ decision to relook at their entire application.



Table 3: Processing Turnaround Time for Substantive Applications Considered in Q2 2010























Substantive Applications


Within Time Charter1


Exceeds Time Charter


Total


No.


%


No.


%


No.


%


23


96


1


4


24


100







1


The SC’s time charter for processing, computed from the date of receipt of complete application to date to decision letter, is as follows:




  • 52 working days for applications involving initial public offerings (IPOs) on the Main Market of Bursa Malaysia 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



  • 14 working days for applications involving private debt securities.



Table 4: Status of Licensing Applications in Q2 2010







































































































Type of licence application


Received


Withdrawn


Returned


Considered


Approved


Rejected


Pending


Representative


 


 


 


 


 


 



New


307


7


13


287


228


0


59


Renewal


1,641


0


2


1,639


1,607


0


32


Corporation



 


 


 


 


 



New


11


0


0


11


3


0


8


Renewal


44


0


1


43


34


0


9


Individual


 


 


 


 


 


 


 


New


0


0


0


0


0


0


0


Renewal


1


0


0


1


0


0


1


Total


2,004


7


16


1,981


1,872


0


109


 


Table 5: Processing Turnaround Time for Licensing Applications in Q2 2010
























































































































Type of licence application


 


Within time charter


Exceeds time charter


Subtotal


Exception


Total Reported


Total


%


Total


%


Total


%


Representative


 


 


 


 


 


 


 


 


New


226


99.12


2


0.88


228


0


0.00


228


Renewal


1,605


99.88


2


0.12


1,607


0


0.00


1,607


Corporation


New


3


100


0


0.00


3


0


0.00


3


Renewal


33


100


0


0.00


33


1


2.94


34


Individual


New


0


0.00


0


0.00


0


0


0.00


0


Renewal


0


0.00


0


0.00


0


0


0.00


0


Total


1,867


99.79


4


0.21


1,871


1


0.05


1,872



B. Statistics of Applications Approved by the SC – Q2 2010


i) Corporate Proposals


Table 6: Number of Corporate Proposals Approved









































Type of Proposals


No. of Corporate Proposals Approved


Q2 2010


Q1 2010


Q2 2009


Initial public offerings



  • Main Market

3


10


7


Reverse Take-Overs and Restructurings




2


Transfer to Main Market


1


1



Private debt securities


151


82


153


Others


3



184


TOTAL


22


19


42
















1


15 proposals comprising twelve RM-denominated PDS and three foreign currency-denominated PDS (Table 7 and 8).

2

Eight proposals comprising seven RM-denominated PDS and one foreign currency-denominated PDS (Table 7 and 8).

3

15 proposals comprising thirteen RM-denominated PDS and two foreign currency-denominated PDS (Table 7, 8 and 9).

4

Other proposals include equity capital-raising, disposal and proposals by unlisted companies.


 


ii) Private Debt Securities


Table 7: Approved RM-denominated PDS
















































Type


Q2 2010


Q1 2010


Q2 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


5


3,640.00


51


8,586.00


82


12,035.00


Sukuk


7


6,873.00


2


590.00


5


5,855.00


Combination3








Total


12


10,513.00


7


9,176.00


13


17,890.00













1


Includes two asset-backed securities (ABS) amounting RM1.4 billion.

2

Includes one ABS amounting to RM1.25 billion and one multi-currency PDS by a multilateral development bank amounting to RM1.0 billion.

3

Combination of conventional and sukuk.



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
















































Type


Q2 2010


Q1 2010


Q2 2009


No. of offers


Size of offers
(USD’mil)


No. of offers


Size of offers
(USD’mil)


No. of offers


Size of offers
(USD’mil)


Conventional


11


500.00






Sukuk


21


100.002


11


450.00


11


750.00


Combination








Total


3


600.00


1


450.00


1


750.00









1

Offers in Malaysia were part of global offering.

2

Includes one which has yet to finalise the offer size at the point of approval.



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








































Type


Q2 2010


Q1 2010


Q2 2009


No. of offers


Size of offers
(USD’mil)


No. of offers


Size of offers
(USD’mil)


No. of offers


Size of offers
(USD’mil)


Conventional






1


10.00


Sukuk








Total






1


10.00



Table 10: Approved Program Issuance of Structured Products








































Type


Q2 2010


Q1 2010


Q2 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


3


15,000.00


5


25,000.00


2


10,000.00


Sukuk


1


500.00






Total


4


15,500.00


5


25,000.00


2


10,000.00



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


Q2 2010


Q1 2010


Q2 2009


Clearance of offer document


5


5


4


Application for exemption from mandatory offer obligation


10


10


15


Others


32


19


23


Total


47


34


42



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


Q2
2010


Q1
2010


Q2
2009


Establishment of new funds


20


24


21


Increase in fund size


15


16


9


Exemption/variation from Guidelines1


6


4


1


Other applications 2


14


14


27


Total


55


58


58


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