CAPITAL MARKET STATISTICS

SC Scorecard Q1 2014
&
Statistics of Submissions Approved by the SC in Q1 2014

A. Corporate Submissions to the SC – Q1 2014
Table 1: Status of Substantive Applications as at 31 March 2014

Applications   

Total

Balance brought forward from Q4 2013

13

Add: Applications received in Q1 2014

36

Total applications

49

Less: Applications Considered in Q1 2014

(21)

Less: Applications Withdrawn in Q1 2014

(3)

Balance carried forward to Q2 2014

25

Table 2: Substantive Applications Considered/Withdrawn in Q1 2014

Type of Applications

Considered

Withdrawn

Total

Approved/
Authorised

Not Approved

Returned

Initial Public Offering

  • Main Market

5

1

6

Acquisition/Reverse Take-Overs  and Restructurings

Transfer from ACE Market to Main Market

1

1

Private Debt Securities

14

3

17

Others

TOTAL

20

1

3

24

Table 3: Processing Turnaround Time for Substantive Applications Considered in Q1 2014

Total Substantive Applications Considered

Within Time Charter1

Exceed Time Charter2

21

No.

%

No.

%

20

95

1

5

Note:
(1) The SC time charter for processing is computed from the date complete information is received up to the date of the decision letter.  Time charter is applicable to the following applications: 

  • Initial public offerings (IPOs) and acquisitions of assets resulting in a significant change in the business direction/policy of a listed company: 52 working days; 
  • Large capitalisation IPO applications and transfer of listing from the ACE Market to the Main Market of Bursa Malaysia: 32 working days; and
  • Private debt securities: Deemed approval/authorisation and 14 working days.
(2) Main reasons for exceeding time charter are the need for further explanation/clarification on certain pertinent issues and for enhanced disclosures.

B. Corporate Applications Approved by the SC – Q1 2014
i) Applications Approved
Table 4: Number of Applications Approved/Authorised

Type of Applications

No. of Applications Approved/Authorised

Q1 2014

Q4 2013

Q1 2013

Initial Public Offering

  • Main Market

5

3

Acquisition/Reverse Take-Overs and Restructurings

1

1

Transfer from ACE Market to Main Market

1

1

Private Debt Securities

14

37

22

Others

1

TOTAL

20

38

28

ii) Private Debt Securities (PDS)
Table 5: Approved and Authorised Ringgit-Denominated issues

Type

Q1 2014

Q4 2013

Q1 2013

No. of issues

Size
(RM mil)

No. of issues

Size
(RM mil)

No. of issues

Size
(RM mil)

Conventional PDS

7(1)

6,322.08

14

13,683.49

8

5,148.00

Sukuk

7

21,075.00

18

64,995.00

10

7,410.00

Combination(2)

2

500.00

Total

14

27,397.08

34

79,178.49

18

12,558.00

Note:
(1)  Include 1 multi-currency issue amounting to RM5.0 billion.
(2) Combination of sukuk and conventional notes.

Table 6: Authorised foreign currency-denominated issues by foreign corporations

Type

Q1 2014

Q4 2013

Q1 2013

No. of issues

Size

No. of issues

Size

No. of issues

Size

Conventional PDS

Sukuk

3(1)

USD10.1 billion

3(2)

USD106.5 million

Combination

Total

3

USD10.1 billion

3

USD106.5 million

Note:
(1)  Comprise 1 multi-currency issue amounting to USD10.0 billion, 1 global offering amounting to USD70.0 million and 1 global offering which has yet to finalise the offer size at the point of authorisation.
(2)  Comprise 2 global offerings amounting to USD106.5 million and 1 global offering which has yet to finalise the offer size at the point of authorisation.

Table 7: Approved and Authorised foreign currency-denominated issues by Malaysian Issuers

Type

Q1 2014

Q4 2013

Q1 2013

No. of issues

Size

No. of issues

Size

No. of issues

Size

Conventional PDS

Sukuk

1

USD1.5 billion

Combination

Total

1

USD1.5 billion

iii)  Take-Overs & Mergers
Table 8: Number of Submissions Considered under the Malaysian Code on Take-overs and Mergers 2010

Type

Number of Submissions Considered

Q1 2014

Q4 2013

Q1 2013

Clearance of offer document(1)

6

12

8

Clearance of independent advice circular

12

14

13

Exemption from mandatory offer obligation

7

9

5

Others2

14

9

6

Total

39

44

32

Note:
(1)  Including documents relating to schemes for control under the Companies Act 1965.
(2) Including the eligibility to act as independent adviser for take-over proposals, ancillary applications and other related decisions.

iv) Collective Investment Schemes & Private Retirement Schemes
Table 9: Number of Applications Approved Relating to Unit Trusts, Other Collective Investment Schemes and Private Retirement Schemes

Type

Number of Applications Approved

Q1
2014

Q4
2013

Q1
2013

Establishment of new collective investment schemes

27

19

15

Establishment of retirement funds

0

5

0

Increase in fund size

2

0

2

Exemption/variation from Guidelines1

4

6

3

Other applications2

13

25

17

Total

46

55

37

Note:
(1)  Excludes applications submitted through the establishment of new schemes.
(2) For example, applications for variation to proposal, extension of time, change of trustee, change of management company and in relation to online activities.