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Less: Applications Withdrawn/Returned during Q1 2010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Table 2: Substantive Applications Considered/Withdrawn/Returned in Q1 2010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Withdrawn/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Withdrawn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