CAPITAL MARKET STATISTICS

SC Scorecard Q3 2010
&
Statistics of Submissions Approved by the SC in Q3 2010

 

A. Corporate Submissions to the SC – Q3 2010

Table 1: Status of Substantive Applications as at 30 September 2010

Total

Balance brought forward from Q2 2010

17

Add: Applications received during Q3 2010

34

Add: Applications deferred and resubmitted during Q3 2010

Total applications

51

Less: Applications Considered during Q3 2010

(18)

Less: Applications Withdrawn/Returned during Q3 2010

(8)

Balance carried forward to Q4 2010

25

 

Table 2: Substantive Applications Considered/Withdrawn/Returned in Q3 2010

Type of proposals

Approved

Rejected

Deferred

Withdrawn/
Returned1

Total

Initial public offering

  • Main Market

 

5

 

 

 

5

 

10

Reverse Take-Overs and Restructurings

Transfer to Main Market

1

2

3

Private debt securities

11

1

12

Others

1

1

Total

18

8

26

1

The main reasons for the withdrawn/returned applications were, amongst others, poor standards of submissions, such as non-compliance to Equity Guidelines, and the applicant’s decision to relook at their entire application.

Table 3: Processing Turnaround Time for Substantive Applications Considered in Q3 2010

Substantive Applications

Within Time Charter1

Exceeds Time Charter

Total

No.

%

No.

%

No.

%

17

94

1

6

18

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 Q3 2010

Type of licence application

Received

Withdrawn

Returned

Considered

Approved

Rejected

Pending

Representative

 

 

 

 

 

 

New

309

2

12

295

253

1

41

Renewal

1,342

2

5

1,335

1,320

0

15

Corporation

 

 

 

 

 

New

13

0

0

13

5

0

8

Renewal

79

0

3

76

66

0

10

Individual

 

 

 

 

 

 

 

New

0

0

0

0

0

0

0

Renewal

1

0

0

1

1

0

0

Total

1,744

4

20

1,720

1,645

1

74

 

Table 5: Processing Turnaround Time for Licensing Applications in Q3 2010

Type of licence application

Within time charter

Exceeds time charter

Subtotal

Exception

Total Reported

Total

%

Total

%

Total

%

Representative

 

 

 

 

 

 

 

 

New

236

93.65

16

6.35

252

1

0.40

253

Renewal

1,317

99.85

2

0.15

1,319

1

0.08

1,320

Corporation

New

5

100

0

0

5

0

0

5

Renewal

61

95.31

3

4.69

64

2

3.03

66

Individual

New

0

0

0

0

0

0

0

0

Renewal

1

0

0

0

1

0

0

1

Total

1,620

98.72

21

1.28

1,641

4

0.24

1,645

B. Statistics of Applications Approved by the SC – Q3 2010

i) Corporate Proposals

Table 6: Number of Corporate Proposals Approved

Type of Proposals

No. of Corporate Proposals Approved

Q3 2010

Q2 2010

Q3 2009

Initial public offerings

  • Main Market

5

3

2

Reverse Take-Overs and Restructurings

1

Transfer to Main Market

1

1

1

Private debt securities

111

152

103

Others

1

3

194

TOTAL

18

22

33

1

11 proposals comprising 10 RM-denominated PDS and 1 foreign currency-denominated PDS.

2

15 proposals comprising 12 RM-denominated PDS and 3 foreign currency-denominated PDS.

3

10 proposals comprising 7 RM-denominated PDS and 3 foreign currency-denominated PDS.

4

Other proposals include acquisition and equity capital-raising.


ii) Private Debt Securities

Table 7: Approved RM-denominated PDS

Type

Q3 2010

Q2 2010

Q3 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

6

3,894.27

5

3,640.00

6

2,532.57

Sukuk

3

10,300.00

7

6,873.00

1

4,500.00

Combination1

1

2,000.00

Total

10

16,194.27

12

10,513.00

7

7,032.57

1

Combination of conventional and sukuk.

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

Type

Q3 2010

Q2 2010

Q3 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

1

3,500.00

21

850.00

21

1,500.00

Combination

1

4,000.00

Total

1

3,500.00

3

1,350.00

3

5,500.00

1

Offers in Malaysia were part of global offering.

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

Type

Q3 2010

Q2 2010

Q3 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

Sukuk

Total

Table 10: Approved Program Issuance of Structured Products

Type

Q3 2010

Q2 2010

Q3 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

6

30,000.00

3

15,000.00

5

25,000.00

Sukuk

1

500.00

Total

6

30,000.00

4

15,500.00

5

25,000.00

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

Q3 2010

Q2 2010

Q3 2009

Clearance of offer document

6

5

3

Application for exemption from mandatory offer obligation

11

10

14

Others

36

32

25

Total

53

47

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

Q3
2010

Q2
2010

Q3
2009

Establishment of new funds

28

20

27

Increase in fund size

8

15

8

Exemption/variation from Guidelines1

4

6

5

Other applications 2

16

14

14

Total

56

55

54

1

Excluding applications submitted through the establishment of new schemes.

2

Including, amongst others, applications for extension of time, change of management company and change of trustee.