CAPITAL MARKET STATISTICS

SC Scorecard Q2 2008

&

Statistics of Submissions Approved by SC in Q2 2008

 

A. Corporate Submissions to the SC – Q2 2008

Table 1: Status of Substantive Applications as at 30 June 2008

 

Total

Balance brought forward from Q1 2008

27

Add: Applications received during Q2 20081

64

Add: Applications resubmitted as at end of Q2 2008

1

Total applications

92

Less: Applications Considered during Q2 20082

54

Less: Applications Withdrawn/Returned during Q2 2008

1

Balance carried forward to Q3 2008

37

1 Substantive Applications exclude other applications such as extension of time, waiver from guidelines, appeal against SC’s decision, etc.
2 Include two applications where their considerations have been deferred.

Table 2: Substantive Applications Considered/Withdrawn/Returned in Q2 2008

Type of proposals

Approved

Rejected

Deferred

Withdrawn/
Returned

Total

Initial public offerings

  • Main Board
  • Second Board
  • MESDAQ

 

2
1
2

 



 

2*

 


1

 

4
2
2

Mergers & Acquisitions

2

2

Restructurings

6

6

Equity capital-raising

8

8

Private debt securities

21

21

Others

10

10

TOTAL

52

2

1

55

* Deferred pending further information/developments

 

Table 3: Processing Turnaround Time for Substantive Applications Considered in Q2 2008

Substantive Applications

Within Time Charter1

Exceeds Time Charter

Total2

No.

%

No.

%

No.

%

52

100

52

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 working days are for applications involving large capitalisation IPOs and equity. The 28 and 14 working days each are for asset backed 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.
2  Exclude two applications where their considerations have been deferred.

 

Table 4: Status of Licensing Applications in Q2 2008

Type of licence application

Received

Withdrawn

Returned

Considered

Approved

Rejected

Pending

Representative

New

296

3

27

266

197

0

69

Renewal

2,289

0

2

2,287

2,200

0

87

Corporation      

New

11

0

0

11

6

0

5

Renewal

41

0

1

40

34

0

6

Individual

New

1

0

0

1

0

0

1

Renewal

2

0

0

2

2

0

0

Total

2,640

3

30

2,607

2,439

0

168

 

Table 5: Processing Turnaround Time for Licensing Applications in Q2 2008

Type of licence application

Within time charter

Exceeds time charter

Total

%

Total

%

Representative        

New

194

98.47

3

1.53

Renewal

2,189

99.5

11

0.5

Corporation

New

6

100

0

0

Renewal

34

100

0

0

Individual

New

0

0

0

0

Renewal

2

100

0

100

Total

2,425 (99.42%)

14 (0.58%)

 

B. Statistics of Applications Approved by the SC – Q2 2008

i) Corporate Proposals

Table 6: Number of Corporate Proposals Approved

Type of Proposals

No. of Corporate Proposals Approved

Q2 2008

Q1 2008

Q2 2007

Initial public offerings

5

13

3

Mergers & Acquisitions

2

8

4

Restructurings

6

2

9

Equity capital-raising

8

21

36

Private debt securities

21

28

20

Others

10

16

27

TOTAL

52

88

99

 

ii) Private Debt Securities

Table 7: Approved RM-denominated PDS Issues

Type

Q2 2008

Q1 2008

Q2 2007

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

182

30,391.72

143

26,465.00

15

5,007.02

Sukuk

7

5,870.00

13

5,850.00

105

6,627.00

Combination1

            –  

24

6,000.00

2

60,000.00

Total

25

36,261.72

29

38,315.00

27

71,634.02

1 Combination of Conventional and Sukuk.
Include one asset-backed securities (ABS) issue amounting to RM1 billion, one multi-currency PDS issue amounting to RM4 billion, one PDS issue by an agency of a foreign government pursuant to PN2A amounting to RM3.5 billion and two PDS issues by foreign multinational corporations pursuant to PN2B amounting to RM5 billion.
3 Include one ABS issue amounting to RM650 million, two PDS issues by multilateral development banks/multilateral financial institutions pursuant to Practice Note 2 (PN2) amounting RM7.8 billion, one PDS issue by an agency of a foreign government pursuant to Practice Note 2A (PN2A) amounting to RM1.35 billion and four PDS issues by foreign multinational corporations pursuant to Practice Note 2B (PN2B) amounting to RM9 billion.
4 Multi-currency PDS issues by agencies of foreign government pursuant to PN2A.
5 Include one ABS issue amounting to RM2.3 billion.

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

Type

Q2 2008

Q1 2008

Q2 2007

No. of offers

Size of offers
(USD’mil)

No. of issues

Size of issues
(USD’mil)

No. of issues

Size of issues
(USD’mil)

Conventional

Sukuk

11

USD5,000.00

51

USD5,300.00

Combination

11

USD3,000.00

Total

1

USD5,000.00

6

USD8,300.00

1 Offer in Malaysia was part of global offering.

 

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

Type

Q2 2008

Q1 2008

Q2 2007

No. of offers

Size of offers
(‘mil)

No. of offers

Size of offers
(‘mil)

No. of issues

Size of issues
(‘mil)

Conventional

21

USD300.00

SGD425.00

Sukuk

Total

2

USD300.00

SGD425.00

1 PDS issues by a local issuer pursuant to Practice Note 1 (PN1).

 

Table 10: Approved Program Issuance of Structured Products

Type

Q2 2008

Q1 2008

Q2 2007

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

2

4,000.00

1

5,000.00

5

50,150.00

Sukuk

2

6,000.001

Total

2

4,000.00

1

5,000.00

7

56,150.001

1  Include adjustments to reflect updated figures for Q2 2007.

 

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
2008

Q1
2008

Q2
2007

Clearance of offer document

8

7

24

Application for exemption from mandatory offer obligation

21

20

15

Others

45

51

70

Total

74

78

109

 

iv) Unit Trusts & Collective Investment Schemes

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

Type

Number of Submissions Approved

Q2
2008

Q1
2008

Q2
2007

Establishment of new funds

31

30

44

Increase in fund size

12

6

34

Exemption/variation from Guidelines1

2

4

10

Other applications 2

26

15

37

Total

71

55

125

1 Excluding applications submitted through the establishment of new schemes.
2 Including applications for extension of time, change of trustee and application to act as E-Host and provide online activities.