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Less: Applications withdrawn/returned during Q2 2009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Less: Applications withdrawn/returned during Q2 2009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Table 3: Substantive Applications Considered/Withdrawn/Returned in Q2 2009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Withdrawn/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.