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Less: Applications Withdrawn/Returned during Q2 2010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Table 2: Substantive Applications Considered/Withdrawn/Returned in Q2 2010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Withdrawn/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The main reasons for the withdrawn/returned applications were, amongst others, poor standards of submissionsand the applicants’ decision to relook at their entire application.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Withdrawn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.